Market Comment – Monday 19th November 2007

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With another week closing on Christmas and the election looming I think we have seen the biggest weeks for the year now past. The aim now is to watch out for the bargains. There will be “forthcoming auctions”, and quiet sales from agents testing the waters or trying to make some last minute deals before Christmas. From what most of the agents are saying the autumn season will probably start a little early so property may start coming onto the market from the second or third week in January instead of the normal February start.

Clearances were again above the 80% mark with a much greater level of pre auction negotiations. This usually increases towards Christmas as vendors and agents, alike get nervous about properties passing in close to the end of the year. This means, in the coming weeks don’t be shy with pre auction offers. There is nothing wrong with paying a good price for good property. If you put forward a fair and reasonable offer the agents will normally entertain this. Holding back to save a dollar means nothing if you are always unsuccessful.

Ian James

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About the author

Ian has been operating his own businesses for more than 25 years. During this time the self taught lessons of building the business, dealing with staff, suppliers, clients and economic woes have been invaluable. Ian is a fully licensed Real estate Agent, a member of the REIV and registered with the Business Licensing Authority.

Buying property is not just sticking up your hand and outbidding your rival. It is an emotional, fiscal and psychological decision that needs to be planned and well executed. Ian is usually involved in over three hundred property negotiations per year; ranging from the $250,000 first unit purchase for a young couple to multiple million dollar residential developments. Ian's business background and endless numbers of negotiations make him one of the industry's leading negotiators.

Ian is married with two adult children, living in Patterson Lakes. He is a keen fisherman when weather and business allows the time.