Originally Posted by
Brut
I am with Dr Who! There are alot of cashed up buyers out there waiting for the right property (ie. quality properties in the right school zones etc) or Investors looking for cash-flow properties.
From my experience I have seen a huge influx of buyers at Open homes in the last few months. We recently listed our property at $769,000 and had 4 cash offers (between $740 - $755,000) in the first week of marketing.
I have attended 3 auctions in the last month,
1. Renovated house in Ilam, CV only $430,000 but sold under hammer for $900,000.
2. Renovated house in Bryndwr with CV $520,000 sold under hammer for $725,000.
3. 2 year old house in Prebbleton on 1 acre of land. CV $600,000, sold under hammer for $895,000.
Properties that have been on the market for awhile were probably overpriced to start with?