The current housing market is awaiting the savvy buyer. With the consecutive rises by the reserve bank, European PIGS Economy treat, Revolving door Labour Prime Minister and now threat of a coming election.
If you have cash – that is no bank finance required – you are KING. The last three real estate contracts written, in Everton Park and McDowall, have been cash unconditional. The savvy buyers have purchased at well discounted prices. Motivated sellers have taken the offers and moved on.
Tighten bank conditions, over jealous building inspections, have made these contracts very attractive. Remember when you negotiate on a property there are three levels of negotiations: price, time and conditions. Which one is more important to you, in the current market make your offer as attractive as possible.
I don’t believe that these conditions will be sustainable due to the housing shortage, so if you are cashed up make the move now. This particular mille second in time is a buyers market.