How to buy in a booming market ?!

Are you in the market, wanting to buy a property but every home that comes up For Sale is selling before you can even look at it or you just have no idea what price it will sell for?

Well let me tell you your not alone.

"Don't get caught in a bidding war"

Last week I had a client who is in the market for an investment property, I found the absolute perfect type of property for the client which was walking distance to the Business Centre, beaches, schools, shopping centres, airport and the list goes on. I submitted an offer on behalf of my client, for a very fair price, well above what the last sale price was in the area, as the market had risen since then. The agent called me back the next day, after the first open home to let me know they have had 25 groups through and the other offers submitted were nearly 10 percent above our offer.

The offer we made was well and truly on the money but in this environment people are paying silly money, unfortunately a lot of the purchasers in the market are from interstate and don't know the real value in that property and are just willing to pay the price to secure their investment.

First and foremost the role of a buyers agent is to identify a property and ensure you are buying the right property for the right price and one that will provide consistent returns for years to come.

When buying a property you want a home that is in a location that will always be in demand. Some people simply search for a bargain, but bargains are usually in locations that are not as desirable and will not provide you long term growth. There is no point of buying a property for say 10% below market value in are area that is only going to provide you moderate growth in years to come. You need to ask the question, wouldn't you prefer to pay true value not underpriced or overpriced for a property that will consistently grow year on year.

This is where you need a buyers agent that knows the local agents, the area and the market and can gain access to inside knowledge of new properties coming to the market. This is when you get the opportunity to inspect the home before others do and submit your stong offer. It doesn't mean you will always secure the property but it certainly put you in a better position.

"Be patient and wait for the right property"

I know it can be frustrating waiting for the right property and in the meantime prices are soaring, but remember you are in this for the long haul. This is one of the biggest investments of you life, don't take a chance!

Call us now for a one on one consult and let's talk about your current situation and the various opportunities out there for you.

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