Reality check

Reality check

This week was a reality check about the value of life, that planted seeds of uncertainty and remorse, as one of the most beautiful and happiest of destinations on the planet had been transformed into a human holocaust. Bali, the island of romance and beauty had been transformed into an island of bereavement and brutality. For the Balinese population many believe that this is a clear example of a bubble that has been burst. I, like many others will return to Bali. My spirit in life will not be broken, nor my affection for these wonderful people and their beautiful island, “Freedom is the true possession of only those who have the courage to defend it”.

Back from reality to realty, and the Mosman Daily which, this week, is as full as a state school!! With the school holidays well and truly behind us, it is time to weave a little magic in the market and really work the available purchaser lists to the max. What we have now are touches of bygone markets where the agents really had to work the markets to attain the desired results. Sadly, some agents have become somewhat overweight from an over indulgence in past markets, where purchasers carried the majority of the workload. There is no doubting how the property market has changed. Agents now have to work a lot harder and smarter on their strategies, and for some that means returning phone calls from prospective purchasers, and yes that will also involve phoning purchasers who have inspected the properties. From our perspective as an agency, we work our buyer database as aggressively as we can, and on a really good week, we can have up to 100 new buyer entries. As more and more of the property players are using the Internet as their preferred medium of research, this is of great assistance.

Once again the State Government was rubbing their hands together, with the release of the Budget surplus estimates exceeding the initial expectations. Thanks once again to the property industry! The financial year to June 30, showed a surplus of a healthy $495 million, which was $127 million higher than first budgeted. Stamp Duty was once again a star performer, given that they had anticipated a fall. It just goes to show how in touch they are with the economy. It is a good thing that the Federal Government is still driving the property market and not the State Government. This does indicate how important the property industry is to our economy.

Whilst the property market is still being described as the property boom, it is probably an opportune time to remove the word “boom” and replace it with the word “market”. It is a market that vendors and purchasers invest in, as one does with the share market. It is very clear that in the year 2002 prices have remained stable and consistent in Mosman. The market over the last six months has had zero growth, which is a very positive sign for the market and hopefully this remains the case for quite sometime to come. With the market showing greater consistency, it will allow the participants to gather a greater understanding of the market dynamics, and thus it will become a much easier market to understand. Personally, I believe this is the much awaited light at the end of the tunnel.

As you can see from our property menu we are going to be busy over the next few weeks, and the entire team is confident and enthusiastic with the challenges before us. One thing is certain, we will be listening to the purchasers rather than talking. Watch for some properties to sell well before the set dates!

To the victims and families of the Bali tragedy, our sincere condolences.

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