HEALTHY PRICES CAN STILL BE ACHIEVED

The last 7 days has seen a mixture of results across our core suburbs.

According to reports from our team, home open attendance was a little weak; however, it’s encouraging to note that buyers seem very willing to view properties outside of the typical Saturday time-slots.

Last Thursday, for instance, we hosted a twilight viewing of a Claremont property and had a very strong response with 13 parties attending.

One of the stand-out sales of the week was a property in Cottesloe that, despite being largely block value, sold for over $2 million. Interestingly, buyers were introduced to this property via our Buyer Management System and the sale occurred without the property going to a public campaign.

Overall, although there are a large number of listings on the market, it’s promising to see that healthy prices can still be achieved with the right strategy.

RELATIONSHIPS AND SERVICE ARE CRITICAL

Our close relationships with relocation companies, and our reputation amongst tenants in the market enables us to perpetually achieve great results for landlords. The key to our success is our knowledge and experience in dealing with executive tenants as well as the ability to understand and analyse current market conditions, which are specific to certain areas. In this way we are able to accurately advise and assist our landlords to achieve the absolute maximum rental return and avoid costly vacancy periods.


This is done on two fronts. Firstly our specialist leasing team will negotiate on your behalf and then our friendly and professional asset managers nurture the ongoing relationships with tenants, which may last six months or perhaps six years. It continues to surprise us the number of tenants who change properties because of property managers failing to provide adequate service, which inevitably results in vacancy periods and letting costs.

Fremantle is still experiencing a high demand for both houses and apartments. This month we have also seen a resurgence in demand for furnished inner city apartments with a number leased to corporate clients. The executive housing market started the month slowly, however has ended strongly with demand increasing as new projects begin.

THE VIEW IS GOOD DEPENDING ON WHERE YOU LOOK

It seems that opinion about the current state of the market depends on where you look. On the one hand, there remains a significant number of properties that have been on the market for an extended period of time. However, look elsewhere and you´ll see much more positive signs.

Home opens are being enthusiastically attended and offers are being accepted with many properties selling within the first few weeks of the marketing campaign. In a recent Caporn Young auction for 62 Tuckfield Street in Fremantle, which was attended by nearly 100 people, the property attracted numerous bidders and sold under the hammer for a price well above its reserve price.

This frenzied auction was a clear demonstration of how a concentrated marketing campaign can create healthy competition amongst buyers and drive up the price of the property.

Another stand-out sale was a property on Hammond Road in Claremont which was sold for more than $2 million. Despite a slow start, interest in this property grew substantially as the marketing campaign progressed and, after it sold, the unsuccessful buyers were quick to express their disappointment at missing out.

While the current backlog of stock continues to put a strain on the market, it´s becoming increasingly evident that there are pockets of the market that are still shining brightly.

GOING, GOING...SOLD!

There’s nothing like the excitement of an auction frenzy, which nearly 100 people witnessed on Saturday, to get the adrenalin pumping. The public auction of 62 Tuckfield Street in Fremantle was a clear demonstration of how a concentrated marketing campaign can deliver a number of competitive buyers who will ultimately bid up the price.


The property was announced “on the market” by our in-house auctioneer at $1.5million, but with 7 different bidders it eventually sold for $1.89m. The buyer was clearly determined to secure this fine piece of Fremantle history located near the shores of the Swan River. This auction was only one of the highlights of what was a strong week of sales for our team.


DON’T MISS OUR CLIENT EVENING – there are still a handful of places left for what promises to be an informative and entertaining night at the Royal Freshwater Bay Yacht Club. We’ll be having two high profile guest speakers sharing key information about the property market and the latest selling strategies. Please reply to this email if you would like more information or to reserve your place.

CY CLIENT INFORMATION EVENING

Some sequels are better than the original!


Back by popular demand, we are excited to announce the second Client Information Evening in our series. And you’re invited!


Although the last one was an overwhelming success, this time we have twice the speakers and twice the valuable tips and information. So you’ll have to be twice as quick to book your place.


Don’t miss Gavin Hegney’s insightful update on the Perth property market. Then, our keynote speaker, Phil De Fegely, will reveal the #1 sales strategy currently being used on the East Coast of Australia and explain how it can give WA sellers an enormous advantage.


This exclusive event will be held on Thursday 31st March and numbers are STRICTLY LIMITED. So, please contact sue@capornyoung.com.au to RSVP as soon as possible to reserve your place for what we are sure will be an informative and enlightening evening.


Date: Thursday, 31 March 2011


Time: 6.30pm start, till approximately 8pm followed by drinks and finger food


Place: Roland Smith Ballroom, Royal Freshwater Bay Yacht Club, Keane’s Point, Peppermint Grove


Speakers: Gavin Hegney from Hegney Property Valuations with provide a follow up to his November Client Night presentation on the state of the market. Phil De Fegely from Marshall White, Melbourne will discuss auctions as an effective selling strategy.

STRONG WEEK OF SALES

A week is a long time in real estate. Since our last weekly email update, we have seen a noticeable increase in activity leading to a strong week of sales. Of the 36 properties that Caporn Young opened over the last weekend, our team managed to sell a whopping 22% of them!


One of the stand-out results over the past 7 days was for a delightful property in Beaconsfield. Multiple offers were written for this property, the first within 24 hours of the property being advertised on the Internet. An offer was accepted within 48 hours and the result exceeded the seller’s expectations. The buyer is equally ecstatic having secured a quality property in record time.


If you haven’t yet reserved your place, don’t miss your chance to attend our popular Client Information Evening on March 31. We’ll be having two excellent speakers sharing key information about the property market and the latest selling strategies. Please reply to this email if you would like to reserve your place.

CAPORN YOUNG CELEBRATE 10TH BIRTHDAY BY WINNING NATIONAL REAL ESTATE AWARDS

Leading Western suburbs real estate company, Caporn Young Estate Agents, has celebrated its 10th anniversary in business by winning the award Agency of the Year (Metro) at the recent national awards presented by Real Estate Results Network (RERN).

The RERN is a membership of the leading independent real estate agencies throughout Australia and New Zealand who work in a non-competing specialist network to improve their individual and collective business performance.

At the recent awards ceremony in Sydney, Caporn Young was presented with the award for The Agency of the Year (Metro), Agent Achiever of the Year (Metro) Cam Greig, as well as Rookie of the Year, Stefanie Dobro.

Richard Young, Principal of Caporn Young Estate Agents said he was delighted that the efforts of the agency had been recognised at a national level.

“This national recognition is very timely as the agency was created 10 years ago in 2001.

“Our success over the last 10 years has been based on high levels of service and building a loyal client base.

“Winning the RESN Agency of the Year Award and Agent Achiever of the Year against stiff competition from other leading real estate agencies throughout Australia and New Zealand underscores the high benchmark Caporn Young has now established in the local real estate market for delivery a quality service on a consistent level over many years.

“Our success over the last 10 years has also been based on recruiting, training and retaining quality staff and it is very pleasing that one of our younger staff members, Stefanie Dobro, won the RERN Rookie of the year award,” he said.

 

QUALITY OVER QUANTITY

The past week has seen a drop in the number of buyers attending our home opens. This isn’t surprising really given the amount of distractions that took place over the weekend.

In Perth, we’ve had (and continue to have) a heatwave with daytime temperatures regularly topping the high 30s and hardly ideal for house hunting. We’ve also had the longest open water swimming competition in the world with the Rottnest Channel Swim, which drew massive crowds (and a top ten solo finisher from Caporn Young).

Although activity has been down, the quality of buyers attending home opens was very high. There’s certainly nothing like a 38 degree day to bring out the serious buyers!

Evidence of this was the stand out sale of a property on Marmion Street in Cottesloe that was listed for $2.55 million. After what was only the fourth home open, this delightful property was secured by a local resident who made an unconditional cash offer. An outstanding result for all involved! Ten sales were agreed over the course of the weekend rounding off an encouraging February.