We've just experienced the biggest weekend of Auction sales on record. Houses are going for record amounts & new stock is being snapped up as soon as it's hitting the market. I'm interested to know the state of the nation where you are. What are real estate prices doing currently? Are you noticing a better situation than this time last year? Is there a greater feeling of economic optimism, especially in the real estate market?
Image: Klemich
Image: Klemich
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Perhaps, the increase in sales is related to the forecast of rising interest rates. What do you think?
ReplyDeleteThanks for visiting my blog. I'm liking those purple brown chairs more than I'd imagined. The greens in the plants are the perfect backdrop.
Things are certainly on the move in Canberra...although house prices have always been ridiculously inflated here...wonder why that may be!? In my 'only townhouses' suburb, you'd be hard pressed to get one for under $500k now. Extraordinary.
ReplyDeleteYep, it's on the up here in Sydney too. We had bumper auction results last weekend as well. Glad we bought when we did, which was the top of the last cycle. Must be time to buy again!
ReplyDeleteUgg things are still falling here and the market is really stagnent! Good time to buy - terrible time to sell.
ReplyDeleteSmiles
Strange this is what your post is about tonight because I had to make my renters move out over the weekend and was completely devastated when I saw how bad my once lovely home is in now. I don't have the money to fix it up anymore so will have to sell it and probably just give it away which makes me very sad.
ReplyDeleteTake care
Maggie
Just sold my house Mills, after one open for inspection. Feel like sharing that BFH???? as I will sans abode very soon. A-M xx
ReplyDeleteThings seem to be selling really well here in Sydney - in our area there is hardly anything on the market and when it appears it is gooone in a flash!! Things are definitely on the up but I am not so sure that they ever weren't here in this silly Sydney market!! So pleased we bought long ago and are not trying to get into the market! Leanne xx
ReplyDeleteYep you got the exclusive! Just working out how I am going to tell the folk. Was going to wait for the magazine to come out but I can't really keep a secret, can I. Hopeless. A-M xx
ReplyDeleteAll the houses in my area are being snapped up super quick. Most aren't even getting to their auction day. I have 2 -3 phone calls or letters each week from real estate agents asking if we are interested in selling our house. I haven't really been looking too closely at the prices (since we bought less than a year ago I didn't want to know if we had lost money already! Head in the sand technique!)
ReplyDeleteClare x
Definitely on the up here in Melb..I still don't know what my 'new' house is worth as we haven't renovated one end to match the rest yet. Glad things are looking good where you are. Rxx
ReplyDeleteHi Millie
ReplyDeleteHere on the plains I think it's still people will snap up what they like and be a lot more caution about what's not quite right. My neighbour has had his property on the market for about eight weeks within 2 weeks of him putting it on the market the neighbour 2 doors down did too My neighbour next door has plenty of lookers but people don't like the lay out(the house is well presented with a very nice kitchen )when the bathroom was reno they put the shower in the bath that doesn't get a goog response the family room's too small etc etc. The house 2 doors down had 16 couples at the 1st open on the easter long weekend 8 offers and sold for I hear 100,000 more than the top price The home has 3 large living areas a pool been rendered etc etc
Kind Regards
Karen
Ooh...this is very good news indeed Millie. We own a house in Sydney, in the Manly area. I have been waiting for news like this for years! Now I know why our last tenant was anxious to buy it from us and the new tenant asked the same. I fear in Surrey it is not as promising but certainly better than last year. Now...if we could just spread it down Auckland way and get our tenants there to buy that house, I would be one happy lady. Could never sell in Australia...that is where we plan to call home :)
ReplyDeleteJeanne xx
Im pretty sure things are looking good here in melbourne. My mum just bought in country vic and already her house has gone up by 40,000. She hasnt even moved in yet!
ReplyDeleteOh! I forgot to say good luck with the jumper
ReplyDelete:)
the image you used? has my name stamped all over it! Now.... to find the blank cheque linked to the limitless funds with my name stamped all over it....... x
ReplyDeleteHi Millie, I am in Perth and things didn't drop as much here as the rest of oz, but is now rising slowly but steadily. I have just this week put my house on the market so cross your fingers for me! We don't have as many auctions here tho, but sales are steady and at least we can see the turnover happening...
ReplyDeleteWe are packing up and travelling around Australia with the kids... scary but very exciting!
:)
Yes Millie, things are looking up here in Maine, USA. Thankfully.
ReplyDeleteWe have no property for sale, but my son and his family are house-hunting right now. Overall things are looking up here- geeeez, I hope I didn't just jinx something!
Hi Millie,
ReplyDeleteThings have slowed here in the past several years, but prices have always remained quite high. Things just took longer to sell, although I believe that's picked up. The high prices are what brought us to our fixer upper about four years ago! It wasn't part of our 'plan' to buy a place that needed so much work, but we had to adjust. ; )
xoTrina
housing prices are still down in california after a decline of up to 30% in value. although sales are good, a lot of foreclosed and short sale homes are for sale with good deals (giveaways like free upgrades) with newer homes. this is a good time for people, who did not get the chance to buy houses before, can buy now as long as they have a good credit and steady jobs...it is a buyer's market! maryann
ReplyDeletehmm, i don't see much of a change here in Los Angeles. but then again it's so overpriced here to begin with...
ReplyDeletei'm happy to see the trend starting somewhere!
xox alison
If I could only find hubby a job where he can make at least $60K USD down there, then we are packing our bags.(that's what he said) I will live anywhere down there and do pretty much anything for any amount of $. I quit real estate hunting in Oz because it was just too heartbreaking. "Live in the NOW,and be grateful for what you have. But I love to have my head in the clouds and dream up crazy ideas" this is what the conversation sounds like in my head. Maybe I'll get my way when I get my inheritance. That is the beauty of having a strong will, I mean being determined, I always get my way. Heidi
ReplyDeleteWhat incredibly beautiful blog you have! My compliments!
ReplyDeleteA footprint from Agneta & Sweden
well....
ReplyDeletehere in the u.s.a.
there 200,000.00 foreclosures a month.
and since the famous TARP bailout monies were distributed to the banks...to help the save home owners...there have only been 167,000.00 home modifications made by the banks.
but they are still dolling out their multi-million dollar bonus's.
xxx