Welcome to my ponderings….
An absolutely joyous and fun filled Mother’s Day to all Mums this Sunday – have fun!
Well, well, it was budget time again. Normally I don’t follow those things very closely as I have always believed if I work hard, be good and pay my taxes things will always work out and that has stood me in pretty good stead over my lifetime.
I’ve noticed that by the time it comes into play, things will have shifted yet again either for or against whatever it is I am involved with at the time – that too has been a truism for me over my lifetime.
As a result, my habit has been watching, looking, listening and learning and then do my own thing. That too has stood me in good stead. One of the things I have learned is to trim constantly according to the conditions with my cornering. Both in my decision making and the actual habit of driving.
Just as Mick Doohan points out: “Remember the corner doesn’t start when you reach the bend, it starts before you arrive”.
Now what has this got to do with real estate?
Think about it – mostly everything when a corner is approaching in the market – which I feel is happening presently.
What makes me feel this way presently is my bones are remembering near the end of 2007…
(What many of us didn’t know at the time was that Bear Stearns in the US started falling apart around June 2007 and the rest was history.)
I am sure the economic conditions are vastly different but the feeling of things is change – not anything dramatic like what happened early 2008 when prices started to droop (yes droop not drop) until it all fell apart at the GFC for Australia around 2009 properly.
I am confident that globally, the market can’t and won’t go bang like it did then – the economic powers just couldn’t afford to let it happen again. But something is afoot, and it feels to me that a corner is arriving and like Mick Doohan says “It starts before you arrive”
Even though the market is still strong in most areas of the South East and surges are reoccurring in Southern States the little hiccups here and there have been showing up and it might be time to start preparing for the bend before we get there.
I’m seeing less stock coming onto the market for sale and I’m seeing the increase in prices not as strong as they were last year even though buyer numbers are up, and vacancy rates are extremely low, buyers and tenants are warier than they were.
What to do about this?
Watch the camber of the road and stay awake to what actually is a great result today – not comparing with yesterday even though that is the only benchmark our left brains want to follow.
But there is a more reliable benchmark and it is your intuition if you allow it – it’s a right brain shift.
Now is the time to engage and trust it more however it shows up for you.
It could be that strange itchy feeling in the middle of your gut, the itch in the palm of your hand. Do you recognize it? For me it’s a minor gnawing feeling in my belly.
I don’t believe it’s anything to panic about, but it is time to tune in and engage with the atmosphere of today rather than yesterday or tomorrow.
Remember to start the corner before you arrive because when you’re already in the bend, braking, accelerating at the wrong time can be a disaster in getting the absolute best outcomes.
What does this mean for Sellers and Buyers in coming months?
If you are selling or thinking of selling, be sure to take note of the subtle changes that are occurring and engage an agent who actually can work with those subtleties to your benefit.
And if you are buying, beware, there is still strong competition for properties so be sure to still put your best foot forward – it is not as much of a buyer’s market as some might think.
As I mentioned above, I don’t see the market collapsing but I do see it going through a droop for a period – the infrastructure happening on the Sunshine Coast and the Spectacular living it has to offer will keep people coming well into the future as they abandon the hurly burly of city life.
Until next time, Happy Listing Selling and Cornering and HAPPY MOTHER’S DAY. Rest easy.