Until now, the highly sought after coastal real estate in Australia has been a bit too pricey to attract several property investors; however, that has all changed. These days, the price on coastal property is quite inviting to many real estate investors.

The Real Estate Institute of Australia, or REIA as it is often called, claim that the property along the eastern seaboard of the country is currently a great place to invest. According to the president of REIA, David Airey, the property along the sea has always been something that people desired, and now according to the data, investors are now trickling back into the market. He also said that even though investment levels are not quite where they were two years ago, but the market is definitely seeing significant movement.

Lower Prices Attracting Investors

Airey verified that vendors’ price expectations have dropped significantly, with more and more sellers willing to sell their properties at a greatly reduced price. There are property websites on the Internet where you can find over two hundred listings for properties just in The Entrance, which is an extremely prominent area north of the beautiful Sydney. You will also find a couple hundred properties for sale on the Sunshine Coast of Queensland, in magnificent Caloundra. Many of these properties are listed as “owner says make offer”.

More Buyer Confidence

Over the past few months, there has been a significant increase in buyer confidence. Both investors and sellers have a solid understanding of the financial crisis affecting the world, as well as the volatility that is still present on the share market. However, more and more investors are getting their bankbooks out and investing wisely in the property market.

One agent in the area of Victoria’s Mornington Peninsula, who claims to have been selling in that area for almost a decade, said that the prices in the region had fallen by about twenty percent in the past year. Lower interest rates are also contributing to the increase in buyer confidence, leaving several in the property market anticipating great success.

Property Options Australia
Property Options Blog © 2006 - 2009

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Looking for a new home can be a very emotional experience. After all this is where you will live. Your home is the place where you feel safe, secure and loved. It is where you raise your children, dream your dreams and achieve happiness. Buying a home can garner a pretty substantial range of emotional expectations, and it is very easy to get emotionally attached to a home that is not yet yours as you dream of what it will be like to live there. This is not an entirely bad thing, but you do need to be careful and set some limits and boundaries to avoid heartache.

Set A Figure And Stick With It

It is very important to sit down and figure out how much you can afford to spend on a home. Determine what the maximum amount is and then stick with it. Don’t go over that amount, no matter what.

It Is Ok To Offer Less Money For A House

Don’t feel intimidated by a higher asking price. It is perfectly acceptable to offer less money than what is being asked, especially if there is more to it than just you wanting to pay less money as a reason. If the home has some problems, either structurally or cosmetically, and you make a lowball offer, let your real estate agent know why you offered what you did so that they can convey that to the sellers. It is possible that the seller is not aware of the problems that you noticed. Also, if you are going to need to put money into the home to make it work for you, and offer a lower price to reflect that, let the real estate agent know your reasons. This can help in the negotiating phase as well.

Sean Rasmussen
Property Options Australia
Property Options Blog © 2006 - 2008

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Once you have found the perfect house and you are sure that it is the one that you want to buy, it is time to put in an offer. An offer is a written statement that tells the seller what you are willing to pay for the house. Your agent will have you sign the paper that tells what your offer is and give it to the seller’s real estate agent. Then you wait. Once the sellers get the offer they generally have a certain amount of time to think over what you have offered and make a decision about it.

What Happens When You Put An Offer On A House?

Once you have submitted your offer and your real estate agent has given it to the sellers agent there are three things that can happen. Either the sellers will accept your offer, they will reject your offer, or they will counter-offer a price that is somewhere between what you offered and what they wanted originally. Then the ball is in your court again to decide if you are willing to pay the amount that they counter offer.

An Example Of An Offer And Counter Offer Scenario

Say that the house of your dreams is listed for 500,000. You determine that you are willing to offer 460,00 for the property and you present that offer to the sellers real estate agent. Instead of accepting your offer or flatly denying it, the seller than counter offers with a price of 485,00. Now the decision has to be made as to whether or not you are willing to pay that much money.

The process of negotiating the price of real estate can seem a bit confusing, but it really comes down to how much money you are willing and able to pay for a new home.

Sean Rasmussen
Property Options Australia
Property Options Blog © 2006 - 2008

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