How to: Buy property in a red-hot market
Are you breaking a sweat trying to buy a home in a fiercely competitive market?
Caroline James from RealEstate.com.au takes you through a list of things all buyers should consider when buying property in a highly competitive market. Cohen Handler’s Co Founder, Simon Cohen gives his professional opinion on some of these points.
“In 2015, that scorching market is probably Sydney – particularly its western suburbs – but there are also inner and middle suburbs of Melbourne reporting high levels of demand for the listings on offer. The cyclic nature of property markets means hot buying conditions will appear in any city, suburb or town whenever there is a spike in demand for quality homes but not enough listings to match it…” (Carline James, 2014)
“Buyers looking to stay ahead in a competitive property market should make sure that they’ve done their research in advance,” says Simon Cohen, Co-Founder of buyer’s agency Cohen Handler.
“Knowing the market and the value of property in the area means they’ll be able to act quickly when their dream house becomes available.”
“The relationships that buyers’ agents have mean that they can look beyond listed properties. In a red hot market, this means helping buyers to find off and pre-market properties and bypass the competition generated when a house is auctioned.”
You can see the complete article here > http://www.realestate.com.au/blog/buy-red-hot-market/