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.
Thursday, March 24, 2011
Wednesday, March 23, 2011
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.
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.
Thursday, March 17, 2011
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.
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.
Wednesday, March 9, 2011
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.
Friday, March 4, 2011
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.
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.
Friday, December 17, 2010
House prices to pick up in late 2011
By AAP
Investors and first home buyers are expected to drive up house prices by around five per cent next year, property analysts say.
While residential property prices remained relatively flat in the last quarter of 2010, a tight rental market and return to "normal" trends in first home ownership are likely to lead to firm growth late next year, they say.
CommSec economist Savanth Sebastian said increasing rental demand and rising wages would help fuel steady growth in house prices.
He said demand would be subdued in the first half of 2011 before accelerating in the last two quarters.
"Given the interest rate hikes we've had, it's likely to be a period of consolidation," Mr Sebastian said.
"Later in 2011, rental growth will be a major driver in attracting investors."
He expects annual growth of between five and eight per cent in 2011.
Growth in investor finance would also underpin house price growth, he said.
"The only caveat is interest rises."
Mr Sebastian forecast one interest rate rise for April next year and two in the second half of 2011.
A strong Australian dollar would keep Asian investors away.
Mr Sebastian said the resources centres of Perth and Darwin would experience solid growth while Melbourne and Sydney markets would also be well supported.
Economists, however, are divided over the Reserve Bank of Australia's (RBA) next interest rate move.
They predict there will be two or three interest rate rises next year.
BIS Shrapnel residential property project manager Angie Zigomanis said few first home buyers would return to the market in early 2011 and national house price growth would be capped at 5 per cent.
"I think the it'll be pretty soft next year," Mr Zigomanis said.
Given the recent November rate rise, people will still be cautious."
He predicts demand will pick up once investment in resources projects ramps up later in 2011.
"You'll see more people coming into the market," Mr Zigomanis said.
While many first home buyers had brought forward their home purchases over the past 12 months, buyer activity in that area would return to normal late in 2011, he said.
Mr Zigomanis said demand for residential property would improve as the economy and wages growth strengthened.
The RBA raised the cash rate four times over the past 12 months to its current 4.75 per cent.
An International Monetary Fund (IMF) report this week found Australian house prices could be overvalued by as much as 10 per cent, but it also said strong population growth and rising income would continue to underpin the market.
Meanwhile a recent Westpac consumer survey showed a sharp rise in the Time to Buy a Dwelling Index, which increased 15.8 per cent in November to the highest reading since August.
Westpac senior economist Matthew Hassan said the November interest rate rise appeared to have had "little lasting effect" on attitudes towards house purchases.
"Although affordability remains tight, consumers may see the somewhat softer market conditions and flattening out in house prices over the last six months as an opportunity for buyers," Mr Hassan said.
He said the result suggested housing markets were "well placed" to absorb the last month's interest rate move.
http://www.wabusinessnews.com.au/en-story/1/85820/House-prices-to-pick-up-in-late-2011?utm_source=DBA&utm_medium=email&utm_campaign=article_click
Investors and first home buyers are expected to drive up house prices by around five per cent next year, property analysts say.
While residential property prices remained relatively flat in the last quarter of 2010, a tight rental market and return to "normal" trends in first home ownership are likely to lead to firm growth late next year, they say.
CommSec economist Savanth Sebastian said increasing rental demand and rising wages would help fuel steady growth in house prices.
He said demand would be subdued in the first half of 2011 before accelerating in the last two quarters.
"Given the interest rate hikes we've had, it's likely to be a period of consolidation," Mr Sebastian said.
"Later in 2011, rental growth will be a major driver in attracting investors."
He expects annual growth of between five and eight per cent in 2011.
Growth in investor finance would also underpin house price growth, he said.
"The only caveat is interest rises."
Mr Sebastian forecast one interest rate rise for April next year and two in the second half of 2011.
A strong Australian dollar would keep Asian investors away.
Mr Sebastian said the resources centres of Perth and Darwin would experience solid growth while Melbourne and Sydney markets would also be well supported.
Economists, however, are divided over the Reserve Bank of Australia's (RBA) next interest rate move.
They predict there will be two or three interest rate rises next year.
BIS Shrapnel residential property project manager Angie Zigomanis said few first home buyers would return to the market in early 2011 and national house price growth would be capped at 5 per cent.
"I think the it'll be pretty soft next year," Mr Zigomanis said.
Given the recent November rate rise, people will still be cautious."
He predicts demand will pick up once investment in resources projects ramps up later in 2011.
"You'll see more people coming into the market," Mr Zigomanis said.
While many first home buyers had brought forward their home purchases over the past 12 months, buyer activity in that area would return to normal late in 2011, he said.
Mr Zigomanis said demand for residential property would improve as the economy and wages growth strengthened.
The RBA raised the cash rate four times over the past 12 months to its current 4.75 per cent.
An International Monetary Fund (IMF) report this week found Australian house prices could be overvalued by as much as 10 per cent, but it also said strong population growth and rising income would continue to underpin the market.
Meanwhile a recent Westpac consumer survey showed a sharp rise in the Time to Buy a Dwelling Index, which increased 15.8 per cent in November to the highest reading since August.
Westpac senior economist Matthew Hassan said the November interest rate rise appeared to have had "little lasting effect" on attitudes towards house purchases.
"Although affordability remains tight, consumers may see the somewhat softer market conditions and flattening out in house prices over the last six months as an opportunity for buyers," Mr Hassan said.
He said the result suggested housing markets were "well placed" to absorb the last month's interest rate move.
http://www.wabusinessnews.com.au/en-story/1/85820/House-prices-to-pick-up-in-late-2011?utm_source=DBA&utm_medium=email&utm_campaign=article_click
Thursday, December 2, 2010
Sell your house: how much is it worth?
By Gillian Bullock, ninemsn Money
Finding the right real estate agent can make up to a 5 per cent difference in the price you will get for your home. And given an agent generally charges between 2 per cent and 4 per cent in commission, every dollar counts.
Of course the more your house sells for the greater the commission, but a higher price will still deliver more.
Say your house sold for $300,000 through one agent and you paid 2 per cent commission. After the deal you would end up with $294,000 in your pocket. If the agent had managed to squeeze 5 per cent more out of the buyer ($315,000) then after 2 per cent commission of $7,300 you would have $307,700.
"I do believe that a good estate agent can deliver up to 5 per cent more than an average one because they have better negotiating skills and experience so won't give away your property too early," says Patrick Bright, a buyers' agent with EPS Property Search.
The question is how do you know whether you have a good real estate agent or not?
Bright reckons that one of the best ways is by referral. And one of the worst ways is probably plumping for the agent telling you your property is worth the highest price.
Independent valuation
Before you choose an agent, Bright suggests you get an independent valuation of your property. The Australian Valuers Institute can recommend a valuer.
"An independent valuer has no vested interest," says Bright.
Once you know the true valuation of your home then you can approach agents in your area.
When they give you a price, ask them how they have reached that figure. They should give you a comparative market analysis showing you the sales of several similar properties in your area.
You might be given a single figure or a range for the expected selling price. By law a range cannot have more than a 10 per cent spread so they might say it is in the range of $500,000 to $550,000 where the $50,000 difference is 10 per cent.
An independent valuation should mean you can recognise when an agent tries to win your listing by overquoting.
But undervaluing can also be an issue, according to Bright.
"If you have an agent with no local knowledge then they can undermarket your property as they are not familiar with the area," says Bright.
Fees
When you are choosing your agent, you will need to take into account the fees and charges and what they exactly entail. Agency fees are negotiable as are any associated advertising and marketing costs.
Some agencies charge a flat rate while others a percentage of the sale price. Either way the amount must be recorded in the authority-to-sell contract that you will sign before your home is put on the market. GST is payable on the fee.
Advertising and marketing costs are usually over and above the commission although in some cases you may be able to negotiate no sale, no fee.
Ways to sell your property
You should also consider how you plan to sell your property. Will it be by private treaty or by auction? This decision will depend partly on the location of your home and the popularity of auctions in your area but it’s also a matter of personal choice.
Those against auctions believe that you don’t get your full price for a property as you start from a low point and work your way up while with private treaty you set the price and then work down.
Selling a property is a major operation. If you do your homework first then you will know what to expect from your agent—unless of course you choose to sell it privately.
http://money.ninemsn.com.au/article.aspx?id=174762
Finding the right real estate agent can make up to a 5 per cent difference in the price you will get for your home. And given an agent generally charges between 2 per cent and 4 per cent in commission, every dollar counts.
Of course the more your house sells for the greater the commission, but a higher price will still deliver more.
Say your house sold for $300,000 through one agent and you paid 2 per cent commission. After the deal you would end up with $294,000 in your pocket. If the agent had managed to squeeze 5 per cent more out of the buyer ($315,000) then after 2 per cent commission of $7,300 you would have $307,700.
"I do believe that a good estate agent can deliver up to 5 per cent more than an average one because they have better negotiating skills and experience so won't give away your property too early," says Patrick Bright, a buyers' agent with EPS Property Search.
The question is how do you know whether you have a good real estate agent or not?
Bright reckons that one of the best ways is by referral. And one of the worst ways is probably plumping for the agent telling you your property is worth the highest price.
Independent valuation
Before you choose an agent, Bright suggests you get an independent valuation of your property. The Australian Valuers Institute can recommend a valuer.
"An independent valuer has no vested interest," says Bright.
Once you know the true valuation of your home then you can approach agents in your area.
When they give you a price, ask them how they have reached that figure. They should give you a comparative market analysis showing you the sales of several similar properties in your area.
You might be given a single figure or a range for the expected selling price. By law a range cannot have more than a 10 per cent spread so they might say it is in the range of $500,000 to $550,000 where the $50,000 difference is 10 per cent.
An independent valuation should mean you can recognise when an agent tries to win your listing by overquoting.
But undervaluing can also be an issue, according to Bright.
"If you have an agent with no local knowledge then they can undermarket your property as they are not familiar with the area," says Bright.
Fees
When you are choosing your agent, you will need to take into account the fees and charges and what they exactly entail. Agency fees are negotiable as are any associated advertising and marketing costs.
Some agencies charge a flat rate while others a percentage of the sale price. Either way the amount must be recorded in the authority-to-sell contract that you will sign before your home is put on the market. GST is payable on the fee.
Advertising and marketing costs are usually over and above the commission although in some cases you may be able to negotiate no sale, no fee.
Ways to sell your property
You should also consider how you plan to sell your property. Will it be by private treaty or by auction? This decision will depend partly on the location of your home and the popularity of auctions in your area but it’s also a matter of personal choice.
Those against auctions believe that you don’t get your full price for a property as you start from a low point and work your way up while with private treaty you set the price and then work down.
Selling a property is a major operation. If you do your homework first then you will know what to expect from your agent—unless of course you choose to sell it privately.
http://money.ninemsn.com.au/article.aspx?id=174762
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