Hallett Cove is for sale
According to a popular real estate website there are 70 properties for sale in Hallett Cove. Of those there are 13 showing as under contract – presumably waiting for settlement. That’s more available than has been for probably 12 months or more. Certainly unusual for this time of the year.
Average days on market has stretched out to over 100 days – however the reality is that if the price is right they will sell much quicker than that. But it is the same old story – the vendor thinks it’s worth more than the buyer, so properties are often pushing the price envelope.
I have seen that some of those properties have previously been under contract but have been re-relesased to the market. That occurs either when finance is declined by a bank or a subject to sale property fails on the market.
So if you are a buyer get you finance ready first, then you can negotiate a better price. Or have your property sold first before you buy, negotiate a longer settlement timeframe so that you have time to find a suitable property. Either of these strategies will help you negotiate a better price.
Graham
Seems kind of funny, but it is the purest form of reality and recurring sign, because those who work in this area knows full well he’s talking about!
realstatemarket
July 5, 2010 at 9:27 am