Multiple Offers on YOUR Property!

 What happens when you’ve found ‘the one’? No, not your future wife or husband, but the place that you could call home? This is the property that made those 37 weekends of endless trudging around the open home circuit worthwhile. No weekend BBQs for ages, no...

Welcome to 2017…aahhh…2022

Where are you now? Have you moved forward to 2022 or are you still back in 2017?Another new year, more goals, another birthday this year and for some dreams coming true, yet for others, dreams still on hold and consigned to the New Years resolution list……..again. So,...

You Heard It Here First

You Heard it here only a few months ago!     For the last few months our good friends (not), the banks, have been slowly pushing up the rates on fixed term loans and yes, you guessed it, all the other rates will probably follow in the very near future....

How Busy Has It Been?

Wow! Has this year been super busy or what? Who would have thought that we would see a market like this in our lifetime and especially riding the back of a global pandemic? As far as property searches go, some people are just “over it!”.Having said that, there are the...

Do You Buy Now or Drop Your Standards Later?

Choices are getting difficult.For the moment at least, choices are getting harder to make. If you’re trying to keep up with property prices by working harder and saving more, you’re currently fighting a losing battle. Right now, you’d be flat out keeping pace let...

If It Ain’t Broke, Don’t Fix It

This age old saying in the vernacular also works with mortgages. But why? Fixed interest rates on a home loan are often higher than variable rates, but it’s all dependant on the global bond market. Fixed rates are funded by the global bond markets, meaning the bank...

Why Haven’t Prices Plummeted?

We’ve got Covid, a recession and had lockdown all over the place, but property remains strong and seemingly getting stronger?We all remember the dire predictions in the press this time last year with most property pundits espousing everything up to a total collapse of...

How Many Property Booms Have You Missed So Far?

You can count them on this graph.Personally, I haven’t missed any since 1998. Can you guess why that is? The reason is because I bought my first property in 1998, so I’ve had my toe in the water ever since then. Sure, there have been a couple of slower periods in that...

The Cheap Money Boom!

Are we really in a property boom period just now? Maybe, but is it really a property boom? What I believe we are seeing just now is the largest, most concentrated cheap money boom that I for one have ever seen in my entire life and I’ve lived a lot of my life, so...

Perfect Urban 5 Bed Oasis

522Have you got a ‘Brady Bunch’ family? Are Mum and Dad living with you?If either of these are true, this is the house for you. If you’re up for dual occupancy as an investment strategy, this works as well. The original home as a renovated self contained granny flat ... #main-header, #top-header, #main-footer { display: none!important; }

Have you been keeping a close eye on the market lately?

Haven’t we all! It’s hard to believe some of the crazy things going on at the moment. This makes it all the more important to take action so you don’t see your dreams like you see a jet fighter…………disappearing rapidly into the distance.

Here’s a good example:

A recent client had decided on a property in the southern Sunshine Coast area. Here at PPBA, we had found the property, carried out the due diligence, advised the client, who decided that this was the one and began negotiations with the selling agent. We knew that our offer would need to be good and up with the current trend to be a chance and to keep other offers at bay. The client decided that they would be happy paying close to the asking price as the property was in excellent condition. They were also aware of the amount of competition in the market. The offer was not too far under the asking price. However, the selling agent came straight back, saying that they had already received an initial offer at almost $20,000 over the asking price. Can you believe that? The first offer at $20k over the asking? That put the property above my clients’ budget.

Was this an agent ruse to get my client to pay more? Possibly. However, given the current market and my client’s offer of near the asking price, you could very well understand that the property, which went ‘under offer’ very shortly after, did so with an offer well over the asking price. We’ve even heard of auctions going more than $100K over market value! Now, it’s easy for buyers acting for themselves to get caught up in the emotions at auction. It happens all the time. However, paying more than $100k over market value is pure lunacy.

Back to the drawing board for PPBA as we prepared the client’s second choice. SUCCESS!! We managed to obtain the next property at $5k under the current market value. Do you reckon the client wasn’t happy about that? They were ecstatic after thinking that they wouldn’t get a home unless they paid $$thousands over the market value. That’s the state of the market at the moment. Property can easily fly away from you at a great rate of knots.

What is the meaning of it all?

With many property pundits, including the ‘big four’, estimating growth over the next 1-3 years at around 10-20% and even up to 30%, you can make money by getting into the market now. Don’t believe me? Take the above example for instance. Had this client purchased the initial property 1 or 2 months earlier and sold it now, in just 2 short months they would have made around $20k. Not bad hey? That’s around $10k/month. Let’s break that down even more: assume 30 days/month, that makes it over $333 per day. So you go to bed one evening and when you wake up, you’re over $333 richer than when you went to bed, then the same the next day and so on and so on. If you aren’t in the market yet, then when you wake up, you’re looking at paying over $333 more for the property that you didn’t buy yesterday.

Now how are you sleeping knowing that your dream home will be a further $333 away when you wake up tomorrow?

If selling your current property is holding you up, let us know. We have associate agents who can sell your property for you, while we get on and find your new home. Two birds….one stone and everything is done for you.

Sleeping pills can help you sleep, PPBA helps you make money while you sleep. If you want to make money while you’re asleep, call us here at PPBA and we can get you in the market as soon as possible…….sometimes even sooner.

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