So much going on, so little to be seen.
Widening gulfs between advertised prices and what ends up being paid. Agents running from home to home, killing lights at every switch.
More EOI’s and private auctions at all levels. Agents putting Putin to shame in concealing prices and buyer knowledge — and often that there is just one buyer out there.
Trails of darkness criss-cross the land.
So What’s Up?
June 30 looms. Books will clang shut. Management is putting down the cigars long enough to glare at struggling underlings: “Do the deals, kid. Or deal yourself out.”
Great incentive scheme that. Forget the client, save your job.
And winter in the streets is so cold, cold, cold.
40 Hampden Road, Armadale Passed in at $4.95m. Reserve $5.75m(!). (Go on, have a guess at what the quoted range might have been.)
Wait One Day.
Reserve $5.5m. Sold $5.035m.
It’s discounts like those that are putting Myer on the rocks.
The lesson? Do not be put off by unreal agent estimates. Do your own research, then be there to pick up the pieces.
From The Helicopter
The infra-red camera is set to record hot and cold.
It tells the story. AAAs looking cuddly and warm while lesser homes grow cold and dark.
Still, even faced with reality you’ll find agents who will still insist that all is cosy.
Was That A Mirage?
“Winter is upon us. Do not expect any top end homes to appear now.”
Then what was …
Last week. Nine appeared. All over $10m, one at $35m.
OK, there was only one sensible price among them and the rest were big game fishing, but…
Would You Like A Sleeping Potion With That?
The County Court is suggesting that all is not as open, honest and lovely as things could be in Agent World.
They’re waving a $100k stick.
Insomnia is stalking the streets of Agent World.
Yes. It’s Solid.
You may have formed the view that the top end is not falling and that in fact there are still too few fish in that barrel.
You’re right again.