SUMMER IS HERE!
Well the thoughts espoused in our spring market comment have proven to be more than accurate with the ‘Green Shoots’ theory leading to greater market turnover particularly in the last 6 weeks. Pricing is still critical however, and Banks are as cautious as ever. So a balanced approach to all dealings is necessary.
Reflecting back on previous years in Real Estate the market we seem to have entered is more what I would describe as a ‘normal market’. With the exception of the asset price movements from 1997 – 2007 this now feels like the recovery markets of the mid 1970’s, mid 1980’s and mid 1990’s. These markets are not overly newsworthy for our friends in the press but as long term observers of the market we see theses building phases as the times to buy and plan your property portfolio going forward.
As buyers you have the chance to negotiation (with conditions) rather than forced to be writing ‘cash unconditional’ contracts. You need more equity to finance a deal with a Bank – and that is not a bad thing anyway. As sellers you can re-balance your position in prospects by trading in a relatively stable market – so downsizing and upsizing becomes easier to achieve or perhaps a swap to an income producing property is wise.
Going forward into summer we have really exciting array of properties that have become available – many of these just happen to be generational opportunities – that is properties in extremely good positions that we have been on hold for 40 years or more! Now you have the chance to secure your ‘generational’ property in the Summer of 2009 – 2010 – register on our website for your new property.
Our property managers are awaiting a new influx of Executives and their families from December onwards and we urgently need family and Executive Standard properties to lease. So call our office or our Business Development Manager Jocelyn Williams (ph 0438 416 119) and we will care for your property and get the best return. Our fleet of Blue, Yellow, and White VW Shellabear Bugs will be flitting over the Western Suburbs this Summer.
From all of us at Shellabears a Merry Christmas to you and your families.
Profit from our experience and smart thinking in 2010!
Chris Shellabear
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