Trouble finding a place

[JoshyJ]

Hi guys,

I'm looking for my first PPOR in Western Sydney between Penrith and Blacktown (Yes a big area) and around 250k.

I'm having so much trouble finding places which don't already have a deposit on it. Every time I enquire about a place theres always a deposit placed already, way I look for them is on the usual real estate websites and enquire by phone.

Is there something other people are doing that gets them to see the places much faster then I can or is it just a effect of the first home owners grant?

 

[Gee Cee]

I think you will find it in most civilsed areas at present.
The Govt grants have seem to have caused a mini boom. Which has inflated demand and prices.

I had a good look today and houses everywhere around me are all sold.
Even land that was sitting wanting offers for the past 2 yrs is suddenly being bought at listed price

May be a false high.
See what happens when Govt bonus stops. Or further down the track if unemployment rises.

But as well if economy goes OK and interest rates head north

 

[Propertunity]

I'm looking for my first PPOR in Western Sydney between Penrith and Blacktown (Yes a big area) and around 250k.

That's a big ask - but those places DO exist - it is not impossible.

Is there something other people are doing that gets them to see the places much faster then I can

You need to do something that gives you an unfair advantage. Apart from having a REA mate who will tell you when they list good places before they advertise them, a Buyers Agent that is active in the area would probably be able to assist (but the downside for you is having to pay them to do so ) I suppose if you look at it this way - you are going to give a BA the $7K Boost component of your grant for actually getting a property in time to get the other $7K component of the FHBG in time for 30 June.

or is it just a effect of the first home owners grant?

It IS the effect of the FHOG, yes.

 

[luvvit]

Joshyj

I've found that the best way is to make contact and befriend an agent. If an agent knows that you are fair dinkum, and that you are not just kicking tyres, then you'll get first crack at properties before they even make the internet.

I usually drop into an agency, and sit with an agent for 10mins, tell them what I'm looking for, and provide them contact, and take their email address, and keep in contact.

My property in Campbelltown, didnt even make it to the internet, the agent got the contract on the Friday, and I viewed and bought it on the Saturday.
They didnt even get to put up a sign out the front...but they did put one up 3 days later, just for advertising purposes I guess..

 

[lostis]

Joshyj

Im in exactly the same situation as you although not looking as far West.

IMHO i think after June we'll find ourselves in a much better market and possibly even some great bargains.

 

[lostis]

Joshyj

Im in exactly the same situation as you although not looking as far West.

IMHO i think after June we'll find ourselves in a much better market and possibly even some great bargains.

 

[Cherry Pro]

Hi Joshy

Agree with Luvvit ..if you are happy pounding the streets then it's best that you establish contact with all the agents in the area. Meet them at their offices/properties, call them, email them regularly ...that way, they have you top of their minds. That's what I did and then I had a few call me as soon as properties were listed and even saw some before they made it to the internet.

The next best way is to get yourself a buyer's agent but in Syd West just now, with so many people looking, frankly the agents are not happy to talk to buyer's agents who really try and get you a good deal by pushing the price down. First home owners are fighting over each other to get into properties there ! Have you been to the auctions ?

And thirdly, you can wait till this buying frenzy dies down after June 30.

This is what my personal experience has been over the last quarter.

Good luck !

 

[sk280]

Well you are not alone. As a a fellow FHB, I share your pain. Its getting so ridiculous that often agents tell you what price will get you the property.

Good Luck!

 

[JoshyJ]

Thanks guys,

I'll keep trying and I'll try to keep in contact with the agents.