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Get market ready and sell your property fast!

lounge-webThe right agent and perfect presentation of your property sets the scene for a successful, stress free, financially rewarding sale in record time.

So, you have chosen Beach & Bay Realty and now here are some quick tips from Yellow House Interiors to assist in making your property market ready:

1. Clean and sparkle
Make your property look polished and cleaned to perfection. Pay attention to details like skirting boards, light fittings, windows and walls. Giving your property an all over thorough clean will be an essential step in creating a property that people want to buy.

2. Colour correction
Keep wild and wacky tones to a minimum and stick a neutral and subdued colour palette. Don’t forget that you want to appeal to a great variety of people and create a feeling of space in the property. A fresh coat of paint can change almost everything!

3. Family photos, be gone!
Store and remove all personal objects and photos. Keep in mind that your property needs to attract buyers that want to move in NOW. Keep the styling fresh, simple and not over complicated.

4. Replace carpets
Old carpet can be a huge turn-off. To achieve a higher selling price it’s worth replacing tired old carpet with new carpet in a contemporary hue that works with your paint colour and furnishings.

5. Hire furniture and accessories
You can put this together yourself but if you really want to get the top dollars for your property then call in the professionals! Replace furniture and accessories with specifically chosen items that complement the property and aim to to make the property look it’s very best ready for sale.

6. Quick fixes
Look at your property with fresh eyes. All of the small jobs that you’ve been putting off for so long need your attention before your property goes on the market. Make a list and get them done, you will be thanked for your hard work with interest from the market.

Yellow House Interiors can help you with all of your styling and decorating needs. Achieving the highest price possible for your property through beautiful styling and advice is what we do best! For more information go to www.yellowhouseinteriors.com.au.

steph_bedroom
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Selling Season vs Silly Season

At this time of year buyers have one foot already in the pool, winding down for the Christmas and New Year holidays so it is a seriously committed buyer who attends open houses in the weeks prior to Christmas day.

Image from sellmycastle.com.au

Image from sellmycastle.com.au

There are also Christmas parties to attend, hangovers to recover from and Christmas shopping to be done, all leading to a drop in open house attendance in December.

This year most solicitors are trying to wrap things up for Friday 19th December so this weekend is an important auction weekend.

If you are planning on selling in early 2015 remove any Christmas decorations from the house prior to photos being taken otherwise buyers will think you have been on the market longer than you have.

January is usually a quieter month for real estate but sellers have less competition and there are still buyers around. With less properties for sale in 2014 there might be still a committed group of buyers looking for a home in January 2015.

Image from realestate.com.au

Image from realestate.com.au

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Do you think the property market will burst in 2015?

sydney

One of the most real estate obsessed cities in the world

This is a question real estate agents get asked a lot as we head into the final month of selling. It’s a dangerous question because really we don’t know the answer and no one else does either.

According to SQM Research, the median house price in Sydney’s inner fringe has now surpassed $1million. To many that seems absurd, we dreamed years ago about our homes being worth a million dollars and somehow our dreams have become reality, even if that millionaire reality is a far from palatial home we imagined many years ago.

SOLD $1,280,000 - 3/5 McDonald St, Cronulla

SOLD $1,280,000 – 3/5 McDonald St, Cronulla

In Cronulla it is now very difficult to find an entry level house on a small block of land for $1.3mil.  If you are thinking of buying an apartment in Cronulla, it is just as difficult to find something under a million dollars. Last month a 2 bedroom apartment with superb ocean views and only a single garage sold for $1.4mil.

If you are not in the market already, how do you get into a market where you have to be a millionaire to buy a basic home? Parents are panicking for their children, 30 and 40 year olds are becoming first home buyers.

Should we take the plunge in November 2014 or should we wait and see till February 2015?

SOLD $1,118,000 16 Targo Rd, Beverley Park

SOLD $1,118,000 – 16 Targo Rd, Beverley Park

This is the dilemma now facing many buyers. Sure, interest rates are low but when you have to borrow the bulk of a $1 million dollars plus stamp duty then the mortgage you end up with is not cheap.

The Reserve Bank has been recently warning us to stop getting carried away, to stop borrowing too much money, but so far this has not had too much of an effect on an insatiable Sydney market.

Anything can happen as shown with the Global Financial Crisis and we now live in a very interconnected world, where something that happens in another country, on the other side of the world can affect us here very quickly.

SOLD $1,570,000 - 5 Cook St, Caringbah South

SOLD $1,570,000 – 5 Cook St, Caringbah South

Unfortunately I don’t have a crystal ball but I did win the Melbourne Cup this year so if I had to have a punt on which way the property market was going to go next year I would say upwards, but not at the same intensity as this year.

NSW is now the economic locomotive of Australia and Sydney the most desirable city to live in. Property sales off the plan are booming which means the residential construction industry will also stay robust. Also the NSW government has embarked on huge infrastructure projects which will support thousands of jobs into the medium term.

A steady increase, then a plateau is my guess but full disclaimer here, I have really no idea, just 18 years of being a real estate agent in one of the most real estate obsessed cities in the world…

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The Block Auction Results 2014

Chris & Jenna's Apartment

Chris & Jenna’s Apartment

Last night the nation tuned in to watch the finale of Channel 9’s The Block. Whether you’ve followed the series since the beginning, watched a few episodes here and there or purely just switched on to see the results, we were all watching and everyone’s talking today!

Last year the contestants took home over $500,000 each, a big difference to this year’s results…
  • The boys Simon & Shannon won this years series and took home $445,000 ($100,000 prize money plus $335,000 profit)
  • 2nd place Chris & Jenna walked away with $310,000
  • 3rd place Max and Karstan received $40,000
Shannon & Simon's Apartment

Shannon & Simon’s Apartment

Darren & Dee and Michael & Carlene walked away with just $10,000 for their efforts over the last 10 weeks. As news.com.au calculated, their efforts were worth $10.21 per hour based on a 16 hour working day over 7 days a week, including the $700 per week away-from-home allowance received from Channel 9! To sum it up, these two couples worked for just over half of the hourly minimum wage.

This morning I asked our Managing Director Kylie Emans about the results and her response as a real estate agent was: “the property market has spoken, now that was reality! The only reality in that reality tv show!”

Michael & Carlene's Apartment

Michael & Carlene’s Apartment

All those people lining up to look and all of us watching on TV but who are the buyers? 3 bidders stood out and the first auction stalled before a bidding war between two parties kicked off (what a relief that was!), but they were all the same buyers (even some familiar faces from previous seasons) bidding on each apartment, what a joke!

Now everyone is pointing the blame – were the reserves set too high? Are the auctioneer’s to blame? Did the bidders have inside information? Or was it all down to the order of the auctions? (despite the majority of couples wanting to go towards the end!)

One thing’s for sure, it definitely shows the unpredictable nature of the property market!Source: http://www.news.com.au/entertainment/tv/the-block-darren-and-deanne-and-michael-and-carlene-earnt-just-1071-per-hour-for-their-efforts/story-fn8yvfst-1227088489917

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Spring Real Estate Update

IMG_0928After a sensational long weekend of great weather and football entertainment vendors and buyers are into the final mad dash to sell and buy before Christmas 2014.

It seems unlikely that a rate rise will be seen this year after the Reserve Bank met this week and left the official cash rate on hold for October. However the RBA has been more vocal in recent months about the housing market and is doing its best to cool the heels of buyers, worried prices have increased at an unstable rate.

Certainly we have seen dramatic price increases in the Sutherland Shire especially in the first 6 months of this year. As I see it though while the shortage of listings continues, the pressure on prices will remain. Buyers listening to the RBA’s warnings seem not as desperate to purchase as earlier in the year. What hit home for me recently was the figures showing that first home buyers are generally in their 30’s or 40’s.

Sydney is definitely an internationally priced real estate city!

Some of our new Spring listings below.

If you’re thinking of selling this year, please give us a call today.

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Spring Selling 2014 Begins

10559905_816347761730745_4324784745026281604_nIn just a few days we will be in Spring, traditionally one of the most popular periods for those thinking of selling to take the plunge.

August was the wettest month in 16 years but September is supposed to be dry with above average temperatures. This should see a noticeable increase in the amount of properties for sale.

IMG_0928Talk to any agent about the conditions of winter 2014 in the real estate market in Sydney and they will tell you that it was characterised by very few properties for sale and lots of buyers, creating a climate where competition amongst buyers was fierce and days on market very few.

Beach & Bay Realty averaged 2 week sales campaigns throughout winter. While we enjoy fast, above vendor expectation sale prices, we also enjoy having more properties to sell!

If you are thinking of making a move please give us a call now so we can have you on the market in just a few short weeks!

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Does Your House Smell?

No_smoking_sign_by_nadinefaourYes, this is a trick question. No one can answer this question about their own home yet it is one of those questions sellers often fail to consider. Some of the common smell offenders that seem to seep into the walls, curtains and floor coverings of a home are mould, pets, cheap cleaning products, cigarette smoke and even strong cooking odours such as garlic. Your friends might love your garlic meatballs but your potential buyers won’t like smelling them the next day at your open house.

So do yourself a favour and ask someone who will give you an honest answer to “Does my house smell?” before putting your property on the market because you can not be trusted with this question and if overlooked by the seller it can be very costly. Sometimes smells just do not go away overnight so take this into consideration before racing to get the for sale sign up.

multi-colored-candlesCandles, freshly baked pastries and coffee brewing is all well and good for inspection day but if the kitty litter is sitting in the lounge room you can kiss that quick, top price sale goodbye!

 

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Yellow House Interiors

BedroomThe holidays have finished and the property market is heating up. If you are thinking of selling then now is a great time to get started.

First impressions count and styling your property for sale can be an important and lucrative advantage. At Yellow House Interiors we want to make your property stand out from the crowd and help you maximise your sale price.

Investing time into the look and feel of your property before sale can result in increased market exposure, a quicker sale time and the most important thing a substantially higher selling price!

Yellow House Interiors will transform your property using exceptional pieces of furniture and accessories, helping you create a unique and beautiful interior/exterior for your target market.

Get in touch now and we’ll do the rest!

Kathryn Bloomer
Yellow House Interiors
Phone: 0412 579 330
www.yellowhouseinteriors.com.au

Yellow House Interiors

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Misleading and Incorrect Auction Reporting

I have just read the Sunday Telegraph’s property section and in particular under the “Sales action: South”, after attending several of the auctions reported here on Saturday and taking into consideration that I must be objective, there are several discrepancies but none more glaringly obvious as the paragraph regarding the property result in Lilli Pilli.

One of my staff attended this auction. If there were 3 bidders they must have all have introverted personalities to the extreme as no hands were raised which therefore makes it very difficult to pass the property in to a bidder at $3.1mil? Which begs the question, which auction did the writer of this editorial attend? From the article I would say none and definitely not the one in Lilli Pilli which had only one bid, a vendor bid of $3.1mil. I had assumed that these pieces were written by journalists that had attended the particular auctions they focused their articles on. Now that I understand that reporters are reliant on getting the information 2nd hand from the agent it explains why reporting of general market conditions can be so off the pulse and so far from reality. Any buyer/seller/person interested in real estate reading that article would think that 3 bidders competed for that property up until $3.1mil at which point negotiations stalled. In actual fact, no bidder put up their hand.

It is an offense of the Property, Stock and Business Agents Act 2002 for an agent to report that a property passed in when in fact it passed in with a vendor bid.  Since launching our auction tracking system we have noticed many discrepancies with what results are recorded for in the Sunday papers but none has been so inconsistent from an editorial piece.

To be fair when I checked the Sun Herald’s real estate section, the Home Price Guide’s auction results show the property passing in, no figure available but at least they didn’t embellish the  result in a paragraph of incorrect, misleading reporting.

I think the media has a responsibility if they are going to report on the real estate market that some effort is made to check accuracy.

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NSW State Budget – New Incentives for Home Buyers

As far as I can determine the latest NSW State Budget for 2010 – 2011 includes 4 incentives for some buyers to buy property, mainly new ones.

1)      “Off the plan buyers” up to $600,000 will no longer pay stamp duty. This is going to help developers obtain finance because banks want pre sales before firming up financial arrangements for their clients.

2)      Home buyers that buy during construction or at completion will receive a 25% reduction in stamp duty on purchases up to $600,000. This incentive will help some “spec builders”.

3)      “Empty Nesters” (or last home buyers) over 65 are being encouraged to sell their main home and buy another home up to $600,000. Those who do this will pay no stamp duty on the purchase.

4)      First Home buyers are getting $7000 plus they pay little or no stamp duty on home purchases up to $600,000 for another two years.

Those interested are encouraged to read the fine print about the “NSW Home Builders Bonus” by looking at the Office of State Revenue site.

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