Thursday, October 13, 2011

First Home Owners are back!

What a surprise, this past 2 weeks the first home buyers have come out of hiding and are back at the open inspections and firing up.
It seems that the new market conditions have seen prices soften to such an extent that this group now feel it's time to jump in and get on with things. There may be some logic to it as well.
My view is that people (markets) will only put their lives on hold for a short while… eventually any market acclimatises to the prevailing conditions and then away it all goes again.
There are some other factors too... Spring releases in 2011 have not been as prolific as they could have been, while buyers are currently securing their new homes at around 2005-06 prices. With the next interest rate movement likely to be down.... perhaps the mood has changed indicating here is an opportunity to jump into the market.
Markets are incredible.
How do unrelated buyers act on mass like this, it's as if there is a secret communication system operating out there?   Whatever has happened
– it has been exciting.
As for the rest of the market, it is settling down to a new NORM.  It's really just back to the good old days - where a home must represent good value and where buyers are not rushing around, they are looking around.
Our sales team have (and are still) relearning how to sell - most agents today have never had to do this.  It's all settling down now as reality sets in for all.....buyers, sellers and real estate people are all having to adapt to these new norms or they are getting out of the "game".
Be sure to see our 100th episode of Toop.TV this week, where you can experience first hand one of Adelaide's most incredible homes.  So whether you're a First Home Owner or have done this a couple of times… call me on 0418 824 188 to get you started.

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