Sales Director's Review
John Minns - Sales and Marketing Director
One of our clients, who was dealing with the challenges of selling the family home, recently asked me, “Does it matter whether we sell now or later in the year?” This didn’t surprise me as it is perhaps the most common question we are asked, but it did start me thinking about why there is never a simple answer to this.
For simple economic reasons, this autumn could be the best time to sell an established property for over 2 years – I will discuss why later.
The decision to sell your home involves so much more than how much someone will be prepared to pay to buy it from you. For many sellers there is little choice when it comes to timing – life and circumstances dictate need, and moving to a new job; changes in personal or relationship circumstances; health issues; or family needs can all introduce additional urgency to an already stressful decision.
In order to make the decision, you need to have clarity on 4 important questions. These are:
1. Why are we moving?
2. When do we need to be there?
3. Is our property ready to market?
4. Are we emotionally ready?
Your agent will be able to advise you regarding the practical side of the transaction including what you will need to do to be ready and how long each aspect of the move is likely to take. This will allow you to plan ahead and ensure you know the answers to each of these questions which will help you to make the right decisions with confidence.
So, if you know the answers and you are planning to sell, why does it make sense to do it now?
Less competition. There were between 800-900 properties advertised for sale during February this year, the lowest number for over 2 years. The market will return to a more balanced figure of around 1500 in the future (whether in 2 months, 6 months or more), so your property will stand out now.
Auction clearance rates and exhibition enquiry rates remain strong, so there are buyers actively looking for property.
Autumn is quite simply the best time of the year in Canberra. Still days, colourful trees and sunshine have the city and your property looking great.
Interest rates are trending up towards more neutral settings and this could have an impact on buyers later in 2010.
Independent agents will be offering some great value marketing packages if you are planning to list your property during autumn, so make sure you contact your local office for details, or email me and I will put you in touch with an agent who specialises in your suburb and has the experience and training to help you achieve your goals.
John Minns
Sales and Marketing Director
john.minns@independent.com.au