Passionate, energetic and extremely focused, Amber Werchon is one of Australia’s highest sales achievers. She has sold over $54 million dollars worth of property, was the youngest person to ever receive the REIQ Salesperson of the Year from 2005 to 2007, and has recently established her own agency, Amber Werchon Property.

Should I sell my house now or wait?

April 3 | Amber Werchon

The most common question in today’s property market is whether you should sell now or wait till the market picks up again.

There is no doubt that short-term issues such as the global credit crisis and increases in the cost of money have an effect on any market place.

The reality is that the majority of buyers make property decisions for lifestyle reasons.

Often, they purchase property for a longer period of time. Any short-term effects are overcome when you take a broader view of staying in the market for a minimum of five to 10 years.

One thing that many people don't realise is that if you are upgrading, and (hypothetically) the market has decreased 10% on where it was a year ago, then it is actually cheaper to upgrade today.

Let’s say, for example, you are selling a property worth $800,000, and you are looking to upgrade to a property worth $1 million.

If both properties have come back by 10%, then your property maybe worth $720,000 and the one you are buying is now $900,000. You have actually saved $20,000 on the purchasing costs alone.

Real estate is a relative market, so what you buy and sell for is relative to the market you are trading in.

Markets that are softening or experiencing a short-term fluctuation actually offer an ideal time to trade up.

Effective marketing, combined with great presentation and a motivated, professional agent, is actually the formula to ensure that you get the best price possible in today’s market.

If you are thinking about moving, but you’re unsure of where you property sits in the current market, please contact my office to arrange a short meeting to update you on your property value, or if you have any further questions, email amber.werchon@raywhite.com

Recent Comments

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Posted by yoyoma from Mountain Creek

on 3 April, 2008 at 6:47 a.m. ( Suggest removal )

Put simpily, what you are saying, is that you buy and sell in the same market.

Posted by johnA from noosa

on 3 April, 2008 at 10:57 a.m. ( Suggest removal )

Yes I agree that if you sell on a falling market that you buy at lower level too.
Some interesting sales results are starting to show that this downturn has a long way to go and it is very possible that we will see 30-40% price reductions as time goes on!
Read reports from nz star times or www.propertysnake.co.uk
The tighter bank lending and skyrocketing oil and food prices are going to hit us hard! We have a very high export dollar so what will happen to petrol and retail goods if our Dollar falls back to average levels? How will this effect people with high det!