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Wow it’s that time of year again….

By Jodie Wilson
Daylight Savings is here! We’ve also had 1st Tuesday of the month and the Reserve Bank announced a further interest rate reduction of 0.25 basis points making it now the lowest Interest rate on record at 0.75%. It is hoped that the full 0.25% will be passed on. For eg : a loan of $400,000 can expect to save $720 per annum.
It’s also at this time of the year that we remind those contemplating selling “there are only 12 Auction Saturdays left!”
Some frequently asked questions:
· Is there enough time left if we choose to sell now?
· Is our house ready to go to market?
· Should we sell now?
· Is it better to wait for the New Year – maybe the market will be better in 2020?
· What’s the best/quickest way to sell if we go ahead?
The great news is:
· Yes there still is plenty of time. (It is important to remember that come December there is a shift from real estate to Christmas festivities and holidays).
· In terms of property preparation – we can provide a complimentary assessment together with a list of the most important things to do.
· Timing will in most cases come down to your family situation/circumstances and not market conditions. New job, new school, interstate move etc.
· No-one knows with any real certainty how the market will take off in 2020, what we can say is each year the market takes off slowly and cautiously. Furthermore we can also say with accuracy is that the momentum of the current market is strong and healthy with most properties selling under the hammer, having multiple bidders and in many cases achieving in excess of vendors price expectations.
· Method of sale for sellers with the terms and conditions most favourable is via Auction. Clearance rates are currently hovering around 81%. The sale is unconditional with no cooling off period applicable, 10% deposit is taken and sellers have a time frame to work towards.
If you are looking to purchase your first or next family home you will see that stock levels have risen considerably over the last few weeks and will continue to do so which means more properties to choose from, more chances to help you secure that perfect home! At this time of the year you can also negotiate a settlement date with the seller and potentially be in your new home to celebrate this Christmas and toast in the New Year. Remember to do your due diligence in relation to the property and your finances because that perfect home could present itself when you least expect it!
Whether you are looking to buy or sell, do yourself a favour and call the team here at Ray White Forest Hill. We are here to help in any way, we would love to help you sell or secure a home.
Let us help you find a new home!
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