Trick or Treat?

Another week in a marketplace where over-confident buyers shadow box with over-confident sellers. Properties are selling but they either have to be extra special or priced properly.

In case you weren’t in or around the Holt estate last night you may not have noticed the mayhem. The one night of the year where ghouls and goblins replace real estate agents to walk the streets and knock on doors, and yes…I see the irony.

Perhaps the only thing scarier than hundreds of sugar-fuelled children roaming wild are some of the outrageous price guides on properties at the moment. This week the office of Fair Trading thrill-seeker award goes to the brave out-of-area soul marketing the new listing on Holt Avenue (30+ groups for a mid-week viewing points to that one being well and truly raw in the middle).

We have seen some belters recently, an apartment in Balmoral with a price guide of $1.8M selling for over $3.3M was another example of high wire property marketing.

It would seem that in a slightly more cautious market many agents have decided to pull out the old faithful tactic and underquote. Sadly, it works…FOMO is a thing.

My advice to hopeful home buyers, if it’s too good to be true it’s probably not true.

55 sleeps to Christmas…not a typo.

Until next week,

David Murphy