Words are the best communication. I like to write and share about my passion, experience and story.
Perth is officially autumn with great pour of rains and storms, finally ends the drought for months.
Yes as you can see from the photo, it's a beautiful day in Elizabeth Quay, the key development to rejuvenate Perth city. (Yes it still have a lot to go!)
Thanks for the support from the local community and my real estate agency, we have picked up a few listings and started to create some "spotlights" in this market. Everyday we receive calls and inquiries on properties, market movement and appraisals.
Congratulations to the owner of 16 Warrillow Loop in Canning Vale for your new purchase and I am sure that you will enjoy the stay. I also have a lovely phone call from the vendor of my recent sales in Piara Waters, wishing them all the best in their new ventures.
While I am writing this blog, two new emails came in for my new listing in Canning Vale. Looking forward to assist them with their needs.
On the other hand of my migration agency, the business is keep building and building.
So if you have any queries in both migration and real estate, please do not hesitate to call me at 0415 154 526. Thanks!
It was a busy weekend with a few home opens and appraisals. To be exact, I have conducted 18 appraisals in 3 weeks. What a number!
I have a lot of discussions with the local home owners and yes a lot of people are looking to sell and buy at the same time.
However, do you really save more money by selling and buying in this market? And if so, how much will you save?
Perth real estate market has been declining since March 2015 and we have observed an approximate 5-10% drop in selling price. So it is a good market to buy as we have hit the bottom.
So this is how you will save: Assume that house price has dropped for 10%
If you sell in 2014-2015
Your house worth: $650,000
Your next purchase worth $850,000
You need to pay $200,000 for the shortfall
If you sell in today's market
Your house worth: $585,000
Your next purchase worth: $765,000
You need to pay $180,000 for the shortfall
So you have SAVED $20,000
So if you are looking to sell and buy at the same time, in today's market you are doing the right thing. With low interest rates, you may save more in the long term.
Ernest Ng. WA's Licensed Real Estate Agent. MARA's Registered Migration Agent