I spotted a new term in a real estate ad yesterday, 'price revised'. Surely they mean 'price reduced', I hardly think the price has gone up(Apologies is estate agents have been using this for years but it was the first time I'd seen it).
I agree, there is no shortage, it's a furphy.
i have recently noticed that real estate agents almost never put the price of the house on ads or photos anymore. i swear they use to do it on almost every ad of a house? also, when walking past the windows of RE gents, 60% of the window is taken up with houses they have apparently sold. are they trying to convince people they are moving houses out the door at a rapid rate? im a bit confused by their tactics.
i have recently noticed that real estate agents almost never put the price of the house on ads or photos anymore. i swear they use to do it on almost every ad of a house?
I've had discussions with a few RE agents over the last few weeks to get some idea of what my present place would sell for if I go ahead with the building a new house idea.
1. They are much fewer on the ground than two to three years ago because there's simply not enough business.
2. Quite a few principals have just closed down their business because there's not enough profit after overheads have been met.
3. Buyers used to make an offer as the first step in the negotiation process. Now they are just saying "this is my first and final offer" and walking away if it's not accepted.
That sounds possibly a bit exaggerated as a generalisation but obviously it is happening.
4. Buyers are just not around in anything like the numbers they were. This is a regional centre with a population of 55,000. The population is continually growing.
Only 600 properties were sold in 2011.
5. I could expect to get 20 - 25% less than three years ago.
None of the agents I've spoken with have conveyed any sense that sentiment is improving for sellers.
What state ?
Queensland, SE.
3. Buyers used to make an offer as the first step in the negotiation process. Now they are just saying "this is my first and final offer" and walking away if it's not accepted.
That sounds possibly a bit exaggerated as a generalisation but obviously it is happening.
That is good to hear, everyone should be doing only that. Ask them what they want, discount by at least 40% and demand that price.
That is good to hear, everyone should be doing only that. Ask them what they want, discount by at least 40% and demand that price.
Can't believe any one would ever think about buying now just shows how many don't read/follow the news.
European leaders signaled rising confidence that their region’s crisis is near an end, while Federal Reserve Chairman Ben S. Bernanke warned that a U.S. recovery isn’t assured.
The euro area’s woes are “almost over” after a slow initial response by policy makers, Italian Prime Minister Mario Monti said in Tokyo today. German Chancellor Angela Merkel said yesterday that the crisis is ebbing and her country’s borrowing costs will probably rise as its status as a haven wanes
haha so skip the bull**** and jump straight to the inevitable bottom? i like it, recovery will be faster then....
Hold on, with your theory SCM, if you keep using that method you'll eventually get that. By what? 2020 did you say?
But there does seem to be light at the end of the tunnel....
Europeans See Crisis Near End, Bernanke Warns on Recovery
Not saying we are out of the woods by a long shot, but if the USA starts to recover, there will be a positive knock on effect globally.
l'm going to start saving paper newspapers, egg cartons and used milk bottles.
Sounds like it's going to be worse than the 1930's Great Depression...Y2K x 10000000
If there was a shortage, then stock on market wouldn't be at all time highs.
The only argument for high house prices is "there's a shortage" .. If there was a shortage, why is it that anyone can log on, find a property, inspect it, then buy it? There's no competition, there are no long lines, people aren't on the streets. The problem is with affordability not availability. There is plenty more room to build out, and plenty more room to build up. Where do you think prices are going to go from here
High house prices are bad for our economy, despite our economic illiterate government believing that this is true wealth. With large amounts of money being tied up in repayments, there is less money to be saved, allocated, and put to work to create goods and services that actually grow our standard of living.
Sorry, but that is simply another false statement - especially for the two biggest cities:
Also - your other comment claiming sales volumes are at 20 year lows is a little sensationalist and misleading - here's the data:
Also note that Sydney
So yes volumes in 2011 were low, but 2009 and 2010 were also very high - things are just evening out a bit I reckon.
Also, volumes have been around / close to the levels of 2011 several times in the past 15 years,
It's not that simple
As for Qs etc - try going to rent a 2 bed flat in Sydney < 10kms to the CBD - believe me you WILL be waiting in a Q and competing for any decent place.
This is an economically bogus argument. One mans debt is another man's asset. One man's repayment is another man's income. The money does not just disappear you know! People paying off debt spend less but those they pay can then spend / invest more. It's just circulation and distribution of the same money.
This is an economically bogus argument. One mans debt is another man's asset. One man's repayment is another man's income. The money does not just disappear you know! People paying off debt spend less but those they pay can then spend / invest more. It's just circulation and distribution of the same money.
It's not that simple - there are many artificial and real constraints on the ability for housing supply to be increased in places where people actually WANT to live. The only reason it is "easy" to buy a place if you have the cash is because the market is priced based on (or slightly above) the demand level presently. As for Qs etc - try going to rent a 2 bed flat in Sydney < 10kms to the CBD - believe me you WILL be waiting in a Q and competing for any decent place.
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