Welcome to the CY Blog. As Perth's premier real estate agents we are delighted to provide you with a relevant, accurate and useful source of information - keeping you up to date with the latest in real estate news.

Thursday, February 27, 2014

WHAT HAPPENS WHEN AN AUCTION ATTRACTS 144 BIDS?

SOLD! 79 Rockingham Beach Road

It has been a monumental week for our hard-working sales team, successfully negotiating contracts on no fewer than 10 properties.

While this is massive feat in itself, the finer details are particularly impressive.

Of the properties sold, 6 went for more than $1 million, 3 of them went for more than $2 million, and 1 went for more $3 million.

With such confidence demonstrated by buyers in the upper end, it’s certainly a special time in the market.

We are routinely receiving multiple offers for our properties and our auctions are attracting large crowds and frantic bidding.

3 properties sold under the hammer over the weekend, and 1 auction in particular stunned onlookers. After a whopping 144 bids (no, not a misprint), 170 Preston Point Road, East Fremantle, sold for $2,052,000. This was more than $400,000 above the reserve price.

Similarly, we also saw strong bidding from three main protagonists at the auction for 30 Kitchener Road in Melville with the hammer falling at $703,000.

After witnessing these results, some auction attendees asked us whether an auction is an expensive option compared to selling via private treaty.

The answer will surprise many. Besides the small additional costs for the services of an expert auctioneer (normally around $600), an auction campaign generally costs virtually the same.

And critically, an auction is designed to truly maximise the sale price, which as we saw on the weekend, may be many thousands of dollars higher than expected.

Thursday, February 13, 2014

DO YOU BELIEVE IN LOVE AT FIRST SIGHT?



Call it a feeling or instinct or maybe even love, but sometimes you instantly know when you’ve found the right one. When this special moment occurs, as it did a few days ago, there’s no point in wasting time. Life is just too short.

A buyer entered one of our home opens in Winthrop and was immediately struck by Cupid’s bow. After seeing the property for less than five minutes, this buyer decided to write up an offer on the spot, even before seeing the bedrooms!

It was perhaps the fastest deal we've ever done and one of nine our team negotiated over the past week. 

With strong competition amongst buyers, we’re certainly achieving outstanding results for our clients. Stock levels are now running low, which is creating a real opportunity for potential sellers.

We’re very excited about the week ahead because we’re kicking off our much-anticipated auction season. 

With no fewer than eight Caporn Young auctions scheduled over the next two weeks and a lot of interest from buyers, we expect to see some fireworks. If you’re nearby, why not drop by and sample the excitement.

Who knows, you might even meet your perfect match.

Wednesday, February 5, 2014

IT'S A GREAT TIME TO UPGRADE YOUR LIFESTYLE

There's never been a better time to upgrade 
Any expectation that we’d see a tentative start to 2014 has been well and truly dashed.

In only the past few days, our sales team has successfully negotiated contracts on another 12 properties.

And it’s not just the volume of property we are selling that’s encouraging, but also the variety. Whether we’re working with a block of land for under $500k or a multi-million dollar home, our strategy is achieving strong results for our sellers.

With prices expected to rise in the coming months, particularly in the premium segment of the market, there is currently an excellent opportunity for trade-up buyers.

If you are looking for a better home, a better location or both, there is value in selling your existing home and upgrading as soon as possible before the “trade-up gap” increases.

Delaying your move could easily cost you tens of thousands of dollars more. In fact, many of the buyers we are working with are already jostling for the best locations in Perth.

And some, it seems, are focused almost entirely on the location, confident that they can improve the property down the track to suit their needs.

 This is a great sign for any potential sellers with well-located properties that are in need of some modernising.