Thursday, February 9th 2012
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Putting a Price on Land Value
BY Mal James 24th November 2010
Market value is useful when considering capital growth, however unlike with the share market, the market value of a property is often more a concept than an exact figure – and everybody has their own ‘recipe’ for how to go about it. But there are three consistent ‘ingredients’, that agents use to get a sense [...]
A big sale in Ivanhoe at 9 Nyorie Crt
BY Mal James 20th November 2010
Around the Grounds:
Parkville, 543 Royal Pde, Craig Shearn (Jellis Craig);
“The auction of this Royal Parade home had all the makings of an entertaining event, with a picturesque location, a lively crowd in attendance and just the right amount of sunshine in which those gathered could bask. Auctioneer Craig Shearn competed valiantly [...]
How to Find Out Market Value
BY Mal James 17th November 2010
While the value you place on a property is ultimately the most important factor in influencing what you are prepared to pay, you also want to know its market value. But how do you know what that is? Is there some secret market value formula?
No there is no single definitive “sticker price” market value figure [...]
Million Dollar Melbourne market continues to cool
BY James Home Ratings 13th November 2010
Key Points:
Six bidders each at two hot auctions at just under $1 million at 21 Riddell, Elsternwick with Kaine Lanyon of Benmac and 46 Campbell, Coburg with Duncan McPherson of Nelson Alexander
Biggest auction sale was at 1&3 The Vaucluse, Richmond with Gerry Cantwell from Jeffrey Wilson, selling for well over $2,000,000 or around $3,500 [...]
Property vs Shares
BY James Home Ratings 11th November 2010
You may have seen an advertisement recently talking about the benefits of Shares Vs Property.
Essentially the advertisement comes to the conclusion that “shares can work harder than property only with a lot less work”.
The ad compares the results of investing $31,000 in 1993 either in a diverse range of Australian Shares or used as a [...]
Understanding Market Value is Important
BY Mal James 10th November 2010
Last week we pointed out that valuing a home is a bit like different vegetable soup recipes. Everybody has a different way of doing it. However, in the end the most important opinion of value is yours.
But that doesn’t mean you should ignore what the rest of the market (the majority of other informed buyers [...]
Poorest $M+ Auction Clearance Rate for the Year
BY Guy Angwin 6th November 2010
Key Point
Poorest $M+ Clearance Rate for the Year
Four $M+ Buys in Eltham and three in Lower Plenty, including the riverfronted 109 Sweeneys Lane that was sold mid week by Graham Morrison for around $2.5 million.
Around the Grounds:
Williamstown, 26 Hanmer: Adrian Butera (Compton & Green) After Auction, $1,350,000, 1 bidder
“With the sun shining gloriously and the [...]
October not as buoyant as September
BY Mal James 31st October 2010
End of October Report: October seemingly not as strong as September in these markets.
What a difference a month and some increased stock levels make. If you have a look at our $3m section in October and compare it to our September report you will see a difference in activity – especially when you consider the [...]
Whose Opinion Counts Most In Deciding the Worth of a Property?
BY Mal James 26th October 2010
With Super Saturday done and dusted, and the primary focus of the real estate industry now on which of Bart’s ponies has the best chance in the Cup, we can return to our series on worth, price and values.
A fortnight ago we talked about how a home’s worth can mean different things to different people. [...]
In the “Burbs” there is a “Bur(b)geoning” Million Dollar Market
BY James Home Ratings 23rd October 2010
Key Points:
Mixed bag around the grounds with an overall clearance rate of 58%
Across Melbourne there were 143 reported sales over a million dollars yesterday
Biggest auction was 16 Brooke, Eaglemont, with Damien Carter of Miles. On a quote of mid to high $2 million it was bought for just over mid $3 million
Agent Q & A: [...]
Super Saturday This Weekend’s Market Pointer
BY Mal James 18th October 2010
This coming weekend is a “Super Saturday”, one where the market has a larger than normal amount of stock on offer at auction. We call them majors, and for agents and market watchers they are like the Masters in golf or the Grand Final in footy.
Million Dollar Melbourne was not flying this weekend
BY James Home Ratings 16th October 2010
Key Points
Ascot Vale, 13 Fisher – Ray White – With views over the Maribyrnong River, this was bought for $2,000,000. Land value $2,000+ per sq metre
8 buys over $1m in Caulfield and Elsternwick this week, including in the heart of the Bagel belt – 31 Aroona with Rochelle Butt of TBM at $2,511,000
Templestowe, 70B Newmans [...]
A Home = Land + Building + Emotion
BY Mal James 10th October 2010
The elephant in the room for agents is always: “How much is it worth?”. You might be having a nice conversation about the weather or the footy, and the amazing fact that you both know Peter who went to the same school as so and so. But anyone, whether buyer or seller
Still fairly solid outside Inner East and Bayside @ $1m
BY James Home Ratings 9th October 2010
Biggest
Clifton Hill 12 North Terrace Steve Earl of Harringtons was bought at auction for $4,115,000
Around the grounds
Alphington 6 Bennett: Peter Egan Nelson Alexander: Passed In for $1,000,000: No Bidders
It could only be described as scenes from an unfortunate comedy skit – one I’m sure auctioneer Peter Egan had not foreseen when commencing the auction of [...]
Backward Bidding
BY Mal James 30th September 2010
Backward bidding is about throwing stones, it’s about fighting back, it’s about saying enough is enough.
September sees the re-emergence of Melbourne’s $3m+ Market
BY Mal James 30th September 2010
September Executive Summary:
Demand: Solid and increasing
Reported Boughts: 46
Bidderman: Substantial improvement in bidders per auction at the higher level. Random cross section of bidders. 1/3/2/1/3/1/3/2/2/3/3/3/2/1/0/0 for a month average of 1.875
Supply: New Stock Low
Overhang from May however new stock is still light on at end of September and that which comes on at a reasaonble price [...]
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Kristen, you have been unfailing and so professional in helping us through the process and never, for a second, showed signs of giving up. Adam, we have really appreciated your honesty. It really helped us. Learning when to say no to seems more important than what to say yes, and you helped us figure that out. Thanks for finding the extra time to give us your valued opinions too. ...
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THE RISKS OF CHASING A HOUSEBUYING REWARD...
BY Mal James
Negotiating on a property is all about balancing the risks with the rewards. In your quest for the reward of buying your dream home, you might run the...
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