With household budgets already stretched, discretionary spending is long gone. This month’s question is how we can cut costs on necessities. What should be the first to go? The power? or the food?
With more and more people experiencing the joy of the mortgage cliff every month, you’d think prices would be getting worse right? But if you believe what you read in the papers, we’re experiencing either a dead cat bounce or a resurgence of sorts. As always, I can’t speak to what is happening at other agencies but at Geelong Real Estate Co. We’ve had agents in our business having career-best quarters for the number of properties sold.
There is no denying that Porter Davis, Urban Edge & Eight Homes going under has murdered the land sector. But rising out of the ashes like the phoenix is the competition in existing homes. Don’t get me wrong, across the board it is still certainly a buyer’s market, but sellers that have done the work and brought forward perfectly finished houses are still seeing a lot of interest. One particular listing of ours saw 20+ people through the open home with multiple parties registering their interest for the auction.
You ask me “How’s the market?” My reply in a nutshell: Geelong Real Estate Co’s days on the market are still the lowest in Geelong. No one is building a new home right now, there’s pent-up demand and very little supply, and getting a rental is a nightmare. Now to compound all of that borders are open and people are rushing in and they need to live somewhere.
If you’d like to sit down and make a plan to sell to maximize your price, give us a call. We’d love to help
