Typical Melbourne spring weather provided a game of musical chairs for the crowds attending auctions this weekend. Each time the rain poured and threatened to push crowds into the shelter of front living rooms, buyers would no sooner start the trek inside than the rain would stop and sun come out. However as a consequence […]
Last week we analysed a very nice, well located property in Bayside suburb. It was in a fantastic location, extremely well presented, undercover parking, very light and airy and looked for all intents and purposes to be an extremely good investment. Value for money in the area, put this property in the mid to high […]
Of the 6 auctions we attended on Saturday only 2 sold under the hammer. However all but one was negotiated after the auction and therefore it’s evident that although the market has suffered ‘low’ demand, it’s not suffering ‘no’ demand. However with a 57% clearance rate it continues to be a negotiators domain We may […]
In Scott Pape’s article In the Herald Sun on Saturday 27/8/2011 “Doing Your Block” he articulated that “The Block” was an abject failure. “The only thing that saved the show was the young bloke proposing to his girlfriend.” He put this down to the failure of the properties to sell. He explained that if the […]
Emotion rules the auction market – there’s nothing like the street theatre of a good auction with 4 or 5 willing participants and a never ending flow of tit for tat bidding giving a feeling somewhat akin to the suspense built up on an episode of ‘Who Wants To Be A Millionaire ‘. However, in […]
What a fantastic series for Channel Nine and the production company Watercress Productions. If you read the “Results” and assume that channel Nine have done badly because all the properties did not sell, then think again. It is common knowledge that Channel Nine paid about $3.6M for the site. This was not overpaying as the […]
Out of the 8 auctions we attended today 5 passed with 4 of those in the high 1Mil+ range With these 4 auctions, despite there being plenty of buyers – even to the point of buyers hanging around well after the auction had ceased – few (if any) were willing to openly bid. When they […]
There are many Buyer Advocates in the market today. Most will be able to tell you what happened over the weekend, and some will remember what happened last year. But how many have been negotiating with real estate agents for their clients for ten years. How many have even worked on the selling side of […]
Auctions require confidence as well as bidders, and while confidence is in short supply, don’t expect the clearance rate – which again came in at 57% – to increase any time soon. However, there are changes in the market place, and depending on how the next few weeks pan out in the global arena, a […]
The financial fallout in America is not going to do anything positive for investor confidence, however the agents this weekend were taking full advantage of the news to spruik the safety of investing in ‘Bricks and Mortar’. Without exception – in each auction ‘pre-amble’ – there were comments to the effect “the share market is […]
