Camberwell $8m+
Lysterfield $3m+
Mal James
Buy Sell Agent
0408 107 988
mal@james.net.au
Is it just me, or is it getting colder much quicker? I’m not talking about the market—rather, the water. These days, I find it tougher to hop on my bike at 5:30 AM, hit Elwood’s outdoor gym, and then dive into the water. It’s far easier to say, ‘Hey Rich, forget this, let’s head straight to House of Bread in Martin St, Brighton.’ There, we chat about footy tipping (how hard hey – I’m coming last of 50), life’s challenges, the opposite sex and pretend we’ve exercised over a piccolo and a biscuit.
Is it also just me or are there are more ‘sold’ signs popping up on boards —a surprise given the quiet phones. This week we at James Buy Sell have also completed one journey and partially another, both spanning over a year of buying and selling in tougher markets.
I know it’s a bit less dramatic than a quick ‘wham bam thank you ma’am,’ but our clients maintained their focus and achieved the right results. One transaction involved a buy and sell totalling over $27 million, and another started as a buy, shifted to a sell first due to changing market conditions, and has now positioned themselves strongly for a subsequent search and purchase (like really smart).
With the markets quiet, I thought a follow on, how keeping a level mind and with the right people, even in tighter markets, you can achieve the outcomes you want, whether you are buying or selling or buying AND selling.
Last Week's Summary
- Market Observations: It felt like a strong start to 2024 in the real estate market, with high activity in listings and open houses early Feb. However, it quickly experienced a dip with lower-than-expected auction clearance rates and bidder number by late February.
- Seller Challenges: Common problems sellers face: having the wrong agent, pricing issues, and launching in this less than ideal market.
- Buyer Difficulties: Buyers still missing out on A-grade properties due to not acting quickly enough, not seeing homes until they are sold, or hesitating at the moment of decision.
- General Advice:
- For Sellers: Consider whether issues with your agent, your pricing strategy, or market timing are hindering your sale. A different approach might be needed if the property doesn’t sell.
- For Buyers: It suggests using a buyer’s agent to navigate the market more effectively, especially given the competitive nature with new migrants and potentially improving interest rates.
- Positive Outlook: Encouraged a shift from negative to positive thinking and suggests reassessing the urgency of buying or selling to align better with personal goals.
- Professional Help: Emphasized the importance of seeking professional help in real estate transactions to avoid costly mistakes and enhance the potential for your success.
- Real-Life Success Story: Ended with a story of Brighton clients who, with the right guidance, sold their home for significantly more than expected and bought another for less than listed, resulting in substantial financial and emotional gains. Think of Buying and Selling together.
This Week's Journeys Completed
Transactions completed this week in Lysterfield and Camberwell emphasised in real life how these elements can combine to secure really good results for both sellers and buyers.
Patient Selling in Lysterfield @ $3m+
The journey to sell a Lysterfield property for over $3 million exemplifies the virtues of patience and strategic multi-agent collaboration.
Our client had used another agent unsuccessfully early last year and we suggested a different strategy as the lifestyle market had turned dramatically downwards since then.
We also began a search to buy.
Over the course of a year, the approach involved initially coordinating with multiple agents to maximize exposure and attract the right buyer. This property, with its unique characteristics, required a buyer who not only appreciated its value but was also ready to invest at the right time. Along the way and on top of a toughening lifestyle market there were storms and significant damage to our client’s home.
In a changing market we decided to pause on buy and get the sell done.
In the end we moved to focussing on the skills of Anthony Johnson from Barry Plant who did a brilliant job in negotiating the final deal.
Now we can buy with confidence, better prices and good choice. Smart.
Off-Market Buying in Camberwell @ $8m+
This week we also managed the purchase of an off-market property valued at over $8 million in Camberwell for a client, for whom we had successfully completed a sale late last year. The Sell Buy process is now complete.
With James Buy Sell using a multi-agent approach (Campbell Ward Jellis Craig and Gina Kantzas GK Buy Sell), we tapped into an extensive network of contacts, enabling us to identify and secure a property that wasn’t available on the open market. This strategy not only provided our client with exclusive access but also ensured a smoother negotiation process, as due diligence was completed.
We had a few false starts, but in the end the absolute best home for our clients financial and lifestyle goals was bought.
A truly brilliant buy and sell.
Apologies for in-joke, but Mr Client that’s one bottle of Bolly (chilled and vintage) as bet please.
Some Benefits of Multi-Agent Collaboration
The use of multiple agents in both buying and selling provides several advantages:
- Wider Reach: Engaging multiple agents expands the pool of potential buyers and sellers, increasing the chances of matching the right buyer with the right property.
- Diverse Expertise: Different agents bring varied skills and insights, which can be critical in addressing the complex challenges of high-stakes real estate transactions.
- Enhanced Negotiation Power: A collaborative approach allows for pooling of negotiation strategies and tactics, often leading to more favourable terms for both parties.
Some Advantages of Off-Market Transactions
Buying off-market offers distinctive benefits:
- Privacy: Transactions are handled discreetly, which is often preferred by buyers and sellers of high-value properties.
- Less Competition: Buyers face fewer competing offers, which can lead to better negotiation outcomes as you have more time for due diligence.
- Exclusive Opportunities: Buyers gain access to properties they might never have encountered through traditional channels.
These successful transactions also reflect broader market dynamics, as outlined in last week’s summary of marketnews. Despite a mixed start to 2024 with fluctuating auction clearance rates and varying bidder interest, strategic approaches in real estate can overcome broader market challenges. Our ability to navigate these complexities not only led to successful sales and purchases but also maximized value for our clients.
James Rating of Camberwell Off-Market Bought
3Ps are A Grade + 4th very important P = Provenance
Position is well known and is hard to fault – close to the best of Camberwell without being on top of everything and if there is a fault that could be argued it would be possible noise off Seymour which is why the hedge in my opinion is of value.
Price – yes this is a substantial home on substantial land and if it was to have an 8 in front of it then it would be a rare bird indeed for Camberwell.
Property – this is where this offering shines – the building itself. Lovell Chen describes it well in their 2005 Heritage Report.
“Given its size and cost, the Thomas Gaggin house was a clearly restrained, visibly disciplined design by the late 1880s standards”
This means gold rush, meaning ornate was in and yet this home is not that.
This to me is where its beauty lies – the original minimalist design is largely intact and despite a number of iterations since it has largely remained that way.
The proportions work, the flow works, maybe the master and living areas swap, maybe not. The kitchen simply lacks humanity, for it has everything else.
I love the garden base and how you can work around the incredible botanical tree.
For me, the value adds lie relatively inexpensively and are not major home changes.
- Street entrance – keep the hedge and mystery but take us along the eastern boundary further and then open a visitor up to see a grand entrance and façade.
- The pool area is crying out to be made a “society pool area” of 1920s LA grandeur but with a matching to-home feel. And whilst you are there let’s make that “easterly breakfast” and “the westerly sun rising over the roof afternoon” courtyard enchanting.
- Garage – wow – a driveway that is sensational and can you make that whole garage area (subject to heritage considerations) zing and perhaps have a home office space on top – what a view.
Reno Keys are
- Understand how good it is
- Understand and think like the original and later architects when looking to modernize – they were disciplined (meaning they had clarity) on what it was to be, what statement it was to make and how any changes were to complement not change the original line of thought.
- Modernise with 1% ers – this is all it needs – think about what the little things are I can do to add class, bring it into 2030 and be what I (the family) want; all whilst respecting what is there and what has been done.
STONNINGTON
2023 M4 Xmas Market
Bidderman
1.5
Stock
Average
Clearance
71%
2024 M1 Opening Market
Bidderman
1.3
Stock
Average
Clearance
64%
BY THE BAY - BAYSIDE & PORT PHILLIP
2023 M4 Xmas Market
Bidderman
1.2
Stock
LOW
Clearance
51%
2024 M1 Opening Market
Bidderman
1.2
Stock
Average
Clearance
64%
IN TOORAK $18M - IN BRIGHTON $11M
6 MENZIES AVENUE BRIGHTON
BRIGHTON IS UNDERVALUED
5 Bedrooms, 5 Bathrooms, 8 Car Spaces
CLOSE TO ALL PRIVATE SCHOOLS. Ready to move-in, nothing to do, big garage, great floor plan, wonderful living spaces.
Close to beach, train and schools. Flexible Settlement. Contracts available.
Private viewings only: Stefan Whiting (0411 473 153) and Kym Williams (0435 906 485)
SOI @ $11m its sold, @ $10.5m we can talk.
BOROONDARA
The Inner East market has definitely lifted since December
