Bids ebb be­comes a tor­rent

The Weekend Post - Real Estate - - Real Estate -

A NA­TIONAL com­pany rep­re­sent­ing sev­eral ma­jor lenders has re­ported a 100 per cent clear­ance across the coun­try for all mort­gagee auc­tion sales in their port­fo­lio last week. They also re­ported all auc­tions sold well above the re­serve price. This is pos­i­tive news for the real es­tate mar­ket. The com­pany ad­vised this is the first week they have re­ported a 100 per cent clear­ance, and the best prices for a long time. Does this mean the mar­ket is firm­ing up? We think so. Statis­tics deal in his­tory but here on the fore­front we are experiencing strong buyer de­mand, and mul­ti­ple of­fers on many prop­er­ties. A prop­erty put to mar­ket last week by Elite Cairns re­ceived seven writ­ten of­fers within the first three days of mar­ket­ing. Elite auc­tions are well at­tended, with strong num­bers reg­is­ter­ing to bid. Buy­ers are auc­tion ready and ea­ger to bid. No longer are they stand­ing back and wait­ing for the prop­erty to go on the mar­ket at a price. Houses in the lower sec­tion of the mar­ket are be­ing snapped up by first home­buy­ers and in­vestors. First home­buy­ers are ea­ger to se­cure a prop­erty now while the in­ter­est rates are low. Sue Clyde-Smith Se­nior sales as­so­ciate Elite Cairns

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