Now the other Olympics are out of the way, there will soon be no more excuses left to explain where the market is. It is now the start of the real estate Olympics. Top-end vendors have either been in Beijing or avoiding going to market when the world’s eyes are focused there. The real action […]
August 25. Let the real Olympics begin … Read More »
Auction results, clearance rates, statistics that mislead. The media quote agents speaking of rallies, rising clearance rates and more aggressive bidding. Not at the auctions we attended over the weekend. The REIV spruiks the line that buyers have a positive reaction to the drop in interest rates. Really? They’re representing agents, not buyers. Agents need
The weekend market was in line with the weather: frigid. Buyers had serious cases of cabin fever and vendors were so far north of the market that as a result next to nothing sold. How desperate are things out there? Desperate enough for the dummy bidders to come out from under their rocks; but they’re
August 11. Cold. Dummies. Games. Read More »
This morning’s ‘Age’ reports the sale of 25 Turnbull Avenue, Toorak (at $2,650,000) as the weekend’s top transaction. No fault of the paper’s – they can only report what the agents report to them – but we can assure you that we were bidding at auctions where properties sold for a great deal more. In