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Poliltics, weather and real estate

Last week I wrote a blog about how great it is to sell in winter right now, how there is no stock, the WEATHER has been relatively mild, the federal election not till September…

I think I jinxed myself. Today we have a new/old Prime Minister, they are talking about an election in August, not September and the weather has been, in the last week, nothing short of diabolical.

On a positive note, if you are a buyer and you have a serious interest in a property, looking at real estate in monsoonal rain is a smart move. But you also have to be practical, with the weather we have had in the last week, not many houses would come out the other end without a small leak, pool of water in the backyard. And ask yourself how your own home managed.

With regard to Australian politics and how they will affect the real estate industry in the next few months, it is really hard to say. The public seems to be completely over the shenanigans of our politicians so will we just go about our business, buying and selling real estate, until we have the chance to have our say, or will we sit tight and wait for August/September election day…

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Auction Sales Before Easter

This week all the auctions are midweek to avoid the 4 day long weekend which is traditionally a poor weekend to choose to auction your property. Most agents encourage vendors to schedule an auction prior to Easter or go for a longer campaign and hold the auction the following weekend. Thus last Saturday was a huge weekend for the Sydney property market with overall a clearance rate of 71% with 485 properties going to auction (Australian Property Monitors Sydney statistics).

With the weather still unseasonably warm, along with the ocean temperature this weekend has all the ingredients for a perfect getaway to that weekender on the South or North Coast before winter sets in. If you are staying at home there are plenty of distractions with the Easter Show coming to Cronulla!

Good luck to those vendors selling mid week and we hope everyone enjoys their 4 day weekend, we know we will!

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The Block 2013 – Tasman St, Bondi

Tasman St, Bondi - The Block 2013

Would you buy a house built/renovated on The Block TV show? If so which one would you buy of this series of early 1900’s semis with no parking in Bondi? I have heard that one is at least hoping to achieve $1.6mil! Did I mention no parking?!

Whatever you think of The Block I bet most vendors would be envious of the marketing the show has generated. An average Sydney home in a popular suburb generally generates about 1500-2000 visits on realestate.com.au in a good market. Instead the Block properties have these figures:

Tonight we will see the result of this marketing. It will be very interesting to see how many registered bidders there will be… Stay tuned tonight!

6 Tasman St, Bondi

8 Tasman St, Bondi

10 Tasman St, Bondi

12 Tasman St, Bondi

 

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Introducing the ‘I Love Cronulla’ team

We have been running the ‘I Love Cronulla’ page for almost 4 years now but over the past 12 months it has become increasingly popular and we thank you all for your likes!

Just wanted to introduce our small team…

Basically, my company Beach & Bay Realty launched and manages this community page and we started it as a medium for like-minded lovers of our gorgeous suburb and surrounds to highlight the many stunning spots we have as well as supporting local business and community groups.

There are several of us who take photos, write blogs, interview businesses and generally update you on local happenings.

We have regular contributors like lifeguard Adam Hartup, photographers like Jen Nixon who send us special pics, thanks guys, keep them coming.

We are only a small team at Beach & Bay Realty and please keep in mind this is a “love job!”. Our day job is selling real estate in this beautiful area but hey promoting Cronulla on fb is good for business!

Anyway here’s to another year of prime sunrises, shipwrecked shipping trawlers, local poet launches, photo competitions and some record property sale prices.

Cheers from Kylie, Kirstie, Natalie, Maria and Monique

 

 

 

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2012 Property Selling Countdown Begins

Tomorrow it will be exactly 10 weeks till Christmas. For prospective sellers this means getting your property on the market now! This will give you 4 weeks marketing and then the standard 6 weeks settlement period. Often around this time settlements are changed, shortened or lengthened to allow for the Christmas/New Year period when solicitors close down. Purchasers will need to exchange on a property by end of October to ensure you can enjoy the Christmas festivities in your new home, otherwise settlements are using scheduled mid to late January.

As the days get warmer and we head into summer, it is the perfect time to sell your home. In November it is expected we will get another RBA interest rate cut, and if the banks pass this on buyers will have an extra incentive to buy this spring/summer.

Beach & Bay has a number of new listings and we look forward to launching them over the next week.

Happy selling and happy buying!

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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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NYC Garage For Sale for $1mil

Now I’ve heard it all! After an $88mil apartment sold in New York City earlier this year, a garage has come on the market in Greenwich Village for $1mil!!!

25m2, the garage is part of a forthcoming development at 66 East 11th St. The penthouse in the same building will be listed for sale for $38.8mil.

In New York City apartments rarely have garages included, often a building of 30 apartments will only include 1 garage in the whole complex. Now I know why!

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Mid week Easter auctions

Last nights local in-room auctions gave us 1 of each result. Of the 4 properties up for auction, 1 sold prior, 1 sold under the hammer, 1 was withdrawn and 1 was passed in.

There are no auctions scheduled this weekend, everyone will be enjoying the last rays of this stunning weather instead. Happy Easter!

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Local auction clearance rate beats Sydneywide

Things improved last week for the auction local clearance rate with a final score of 61.5% compared with Sydneywide of 54%.  This weekend there are no auctions scheduled in the local area because of the Easter long weekend but there are 4 midweek auctions tonight which we will update you on tomorrow.

Interest rates have been left on hold by the Reserve Bank today but petrol prices are supposed to drop this weekend? That will be a first for an Easter long weekend!

Happy Easter and let’s hope this fantastic autumn weather continues!

Autumn sunset at Cronulla

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Hollywood’s dream home with a dreamy view

Set over a 1,272m² approx floorplan, this modern Hollywood Hills dream home will leave you in awe, with the view leaving you speechless.

Featuring 6 bedrooms, 8 bathrooms, a gourmet kitchen and a pool with breathtaking views only seen in movies, this steel, glass and wood architectural masterpiece is a perfect example of “living the high life”.

The ‘Sunset Strip’ residence is currently For Sale with Marcie Hartley. There is no price or price guide on the ad, so I’ll keep pretending it’s in my price range!

Now I’ll let the pictures do the talking…

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