Want to know the buying opportunities in Willoughby & Artarmon in 2019? John McManus, Principle at LJ Hooker outlines those opportunities for buyers and gives some very honest advice on the market.
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Here’s the transcript of the video:
I'm a buyer I'm looking in willoughby or at artarmon at the moment what are the opportunities for buyers that you're seeing Jeez right at the moment I think the market you know from what I can see it's come off somewhere between 10 to 12 percent so it's you know it's pretty traumatic at the moment for people selling where their mate down the road got three million bucks for their asset and now I'm telling this mom and dad who have got a better home that their house it's only worth somewhere between two point seven to two point eight that's that's hard a conversation to have with someone but you know on the other end you know in 12 months time if the market keeps going the way it is I be having the same conversation here mum and dad to say house anywhere two point five now so if you're looking at selling now's the time to do it. as a buyer coming into the marketplace well then if I have all the tools and the case studies and and the stats to show you as a buyer that now's the time to buy in the area this is good buying at this number because if you're trying to buy six months ago which you were looking to buy six months ago if I already told you that property was somewhere over three million and now you can buy the same asset for two point eight that mum and dad will now sell a house at two point eight move on to the next part of their journey and still buy and sell same market everyone's okay so I'm trying to educate people at the moment based on the change over okay and if you if you work on the change over it's actually not too bad but if you if you're not working on the changeover price then you get fixated on this is what I really need for my asset when I'm selling it I see the buyers are gonna pay it you as a buyer you gonna be bloody smart yeah you know you've been shopping for six months you know what's transacted in the last six months yep use your savvy with the prices you're not gonna go ad hoc and just try and buy the next best thing that comes up yeah sure so it's it's your education that the vendors are actually the trapped they are falling into at the moment yep where I think really at the end of the day for me it's like well if I can educate mum and dad that they're not really selling for less yep they're actually meeting the market the competition in the marketplace will potentially pay them a little bit more but if they don't have the competition they're definitely gonna sell for less yeah sure
