With school holidays here and the Easter long weekend fast approaching, we expect to see a decline in the number of buyers attending home opens this weekend. Many buyers will head away on holiday and take a break from their property search. That said, it also means that potential investors may be on holiday in Perth and will use their spare time to scope out a good real estate purchase.
Sales activity in the past 7 days has been a little slow, but there are always some bright spots. One of the stand-out sales for the week involved a piece of land in Claremont. This property had been on the market for 9 months and with 2 other agents before it was listed with Caporn Young. Amazingly, the land sold in the first week of the campaign, before the price and address were even released to the market.
This unique strategy is designed to attract only serious buyers who are prepared to put their best foot forward. And that’s exactly what happened, with many competing buyers attending the exclusive “sneak preview” and the property ultimately selling with a cash offer in the high $600,000s!
Until next week, on behalf of everyone at Caporn Young I hope you and family have a safe and enjoyable long weekend.
Thursday, April 21, 2011
Thursday, April 14, 2011
ALL REAL ESTATE AGENTS ARE NOT THE SAME
Anniversaries are generally a time for celebration.
But there’s nothing to celebrate when, as a seller, your property has been on the market for an entire year.
This was the situation faced recently by the owner of an Attadale property. However, this particularly story ended on a positive note after the owner finally appointed Caporn Young to sell their property, following a string of unsuccessful relationships with other real estate agencies. The accepted offer, one of 3 presented to the owner, was actually the first the owner had seen in around 9 months. So, you can image the seller’s relief.
In a competitive real estate market, it’s easy to believe that all real estate agents are the same. But there are definite reasons why some agents consistently outperform others. The particular Caporn Young agent who sold the Attadale property achieved a total of 5 sales in the last week alone and is negotiating on 3 others.
Negotiation skills are critical in modern real estate. So, when interviewing agents to sell your property, make sure you ask them to demonstrate their negotiation techniques.
Thursday, April 7, 2011
MAGNIFICENT MARCH!
We’ve just totalled up the figures and it’s now official. We sold more property in March than in any other month in the current financial year. And this steady run of sales has continued during the last 7 days.
One of the stand-out sales in the last week was a City Beach home that sold for a near $2 million before the marketing campaign even began. Amazingly, one of the 2 competing buyers placed an offer on the property sight unseen. That’s confidence!
It’s clear that astute investors and trade-up buyers are definitely active in the market. And when you consider increasing rental rates across the board and the population growth in WA (approximately 47,000 in the last 12 months), we expect stock levels to diminish and prices to experience upward pressure.
With the RBA leaving interest rates on hold this month, it’s further positive news for home owners and potential home owners.
One of the stand-out sales in the last week was a City Beach home that sold for a near $2 million before the marketing campaign even began. Amazingly, one of the 2 competing buyers placed an offer on the property sight unseen. That’s confidence!
It’s clear that astute investors and trade-up buyers are definitely active in the market. And when you consider increasing rental rates across the board and the population growth in WA (approximately 47,000 in the last 12 months), we expect stock levels to diminish and prices to experience upward pressure.
With the RBA leaving interest rates on hold this month, it’s further positive news for home owners and potential home owners.
Thursday, March 31, 2011
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.
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.
Tuesday, March 29, 2011
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.
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.
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.
Thursday, March 24, 2011
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.
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.
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