Market Comment – Monday September 8th 2008

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Whilst the market clearance rate went up 4% (Yahoo!!) the overall sales figures dropped 4%. There were a total of 977 sales reported to the REIV last week with the preceding week showing 1023. I noticed in the Age this morning even the agents are now saying the true rate for sales under the hammer would be closer to 18% as the vast majority of properties still pass in but are quickly negotiated after the auction.

If you are buying a property within the next three to four months you will almost certainly have to negotiate with an experienced Real Estate Agent. We are running seminars over the next couple of months with topics such as Negotiation – A buyers perspective, we will have Melbourne “hot spots” and checklists of things to do before purchase. These seminars will be conducted at the Glen Eira Town Hall and there is no charge for this. These are informal talks and there will be a chance put specific questions to our panel of experts.

Please come along and ask questions, or send them to us and we will answer them on our “How to” page on our website.

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.