Good Friday is supposed to put the market to bed, but by the time the Easter Bunny arrived everyone was up.
Suddenly there was more going on than we’ve seen since early last year. $10 million and over properties were in demand. And selling. Those which had been wallflowers for dance after dance after dance were waltzing off with new suitors. Maybe not at the $15 million + they had been hoping for, but at least they got chauffeured home from the ball.
[pullquote]…by the time the Easter Bunny arrived everyone was up.”[/pullquote]OK, not all. There are still some yet to meet reality. Those 20% and more above where the buyers will go and unlikely the twain shall meet.
So. What’s what where the sales are happening?
It’s three parts impatience to buy something, anything, three parts desperation to get the thing sold at last, three parts the (mistaken?) belief that the market bottomed in November and – when it really matters – three parts an agent who is doing the homework and not just standing in a doorway adding to a contact list. The agents who are earning their keep are those who are bringing buyer and seller to the same understanding of where the market really is.
And congrats to those agents reported in the media who have suddenly discovered that most top end action is under the radar. Welcome to where it’s happening. We could have told you that 12 months ago.
Come to think of it, we did tell you that 12 months ago. (But if you hadn’t been spending all that time wishfully thinking in doorways, you wouldn’t have needed us to tell you.)
Speaking of timing, isn’t Fairfax always on the ball? Having decided in the Hilmer days that the internet wasn’t where the future would be (they let News Corp get out of the blocks with realestate.com.au, leaving domain.com.au to eat its dust) now the agents who stood behind The Weekly Review are busy divvying up the Fairfax $38 million just as the move to on-line listing is truly under way. Those agents will support TWR like they did when they owned it?
Bayside: back next week …
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