The Real Market

Well this is the world of Blogs! Time to get on board the express train to technology-One ticket for me please!

As a active professional in the real estate  industry, I feel there is an ever growing need for agents as myself to express the “real” side of what is happening in the marketplace and not so much of what you read in the paper or on line each and everyday.

The local real estate market in my prime suburbs of Narre Warren & Narre Warren South are showing great signs amidst the doom and gloom that is out there, we are seeing a great number of buyers through our open for inspections, a growing number of private inspections during the week, and most importantly…offers! yes offers to purchase off real buyers!! and these offers are guess what….turning into sales! who would have thought, with all the negative press out there that there are actually buyers looking at homes and making realistic offers to purchase them and then actually buying them!!!

Now don’t get me wrong we had some interesting times late last year when our prices rose 8% on average in the area only to have this plus another 2% on average come off in March 2008….goes up 8% – drops 10%!! This was a difficult time to not only list homes for sale as property prices were all over the place, as the market was falling and fast, but the sellers who had placed their homes on the market in February and then go hit with the market change…ouch! This suddenly gave us an abundance of homes on the market, some priced hot to sell and the “hang over” homes that were all of a sudden 10% over priced for the market.

The problem(in a positive manner) we have today is a little different…..lack of homes for sale! We need more homes to sell, this growing demand for homes has put pressure on values again, as with any situation of supply v’s demand. The message needs to go out to buyers and sellers…..This is the time to buy and sell- For me the market is fantastic- Interest rates are low, property values are transparent and value is to be had by both buyers and sellers alike.

I am looking forward to regular updates on my pages, on where the market is moving and what the buyers and sellers are giving as feedback on these conditions. I feel the local property market is fantastic and represents great value for location and what is on offer in this great suburb of ours.

If you want the facts on what the home down the road sold for with Harcourts or what the home near the school is on the market for, google Brad Ryan and see my website for all the information you need.

Have a Fantastic day!

Brad.