oc | Thursday 23rd January

We focused on the biggies today and it was more solid than we thought it would be!

He's Back. Hands up if you missed him. Sold! Glen Coutinho sells after 12 Grange Avenue Canterbury for $4,800,000. Lucky as we heard he needed the cash after the Big European Family Trip

He’s Back. Hands up if you missed him. Sold! Glen Coutinho sells 12 Grange Avenue, after auction for $4,800,000. 2 bidders. Lucky, as we heard he needed the cash after the Big European Family Trip.

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We really thought last week the slide may be on. We really thought we may be moving from a blanket market to a crochet rug market (you know the one with holes). However today, there weren’t that many holes. Ducks shrunk from last week and Bidderman rose. No it wasn’t that we had a heap of volcanoes distorting the Bidderman stat. It was solid bidding across the board, look at the norms.

Last week may now appear to be a dose of buyer wishful thinking. While we don’t absolutely think so, we can’t prove any market slide on what we witnessed today. The cracks we thought we saw in the last few weeks were largely covered up, across the 39 auctions (yep 39) we reported on.

I (Mal) personally feel the market is fracturing (a little) between A graders and C graders. Even though they sold (or have conditionally sold) a few $3M+ auctions spoke to us – Emily in Brighton and Austin in Hawthorn and two others and the Boroondara Under the Hammer rate continues to fall. The key to good buying is to find A graders at the old C graders discount. We’ll let others find the C graders with the A grade premium.

But back to the facts, rather than the conjecture. This weekend we were in the red zone for stock, red zone for clearance and red zone for Bidderman. And when we say red zone for stock, we mean heaps of good quality homes and more being put to market in the next few weeks. That is a good thing for buyers, but on such large numbers you would have expected an easing of the Top End Clearance Rate and Top End Bidderman if the market was faltering. Today there was no easing, if anything there was a strengthening back to early August.

With all the turmoil in other markets, maybe we as buyers could have expected some nervousness in our property market that would have helped us on price. For the most part there was none.

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We got back in the saddle at James Buyer auctions this week with 3 from 4 buys; after a clean sheet 5 shocker last week. A few tweaks to the strategy, a different cologne and miraculously the champers flowed for the most part in Fitzroy (Arch Staver and Peter Stephens); Ivanhoe (Glen Coutinho); Hawthorn (Chris Barrett) and Richmond (Andrew McCann).

Please enjoy our August $3m-plus focus reports (where James Buyer Advocates truly lives).

Next week Market News is taking a breather as we have a heap of work to get ready for in September and the run to the Grand Final – ring our office or Gina, Sim, Adam or myself on 9804 3133 if you need buyer help.

Back covering all the auctions on the huge weekend of September 12th. Randall our James Market News co-ordinator is doing a great job under the time pressures – thank you.

What do we at James Marketnews do when a grown man comes crying to you saying you don't photos of me anymore? Why we take pity and go and cover his auctions. Big Jack sells 39 Coppin Malvern East under the hammer for $4,460,000. Volcano of 5 bidders

What do we at James Market News do when a grown man comes crying to you, saying ‘you don’t take photos of me anymore’? Why, we take pity and go and cover his auctions. Big Jack sells 39 Coppin, East under the hammer for $4,460,000. Volcano of 5 bidders.

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14 St Georges Court, (Gerald Delany, Kay & Burton), undisclosed (range: $5,359,744 – $5,896,277), after auction, 1 bidder

9 Holroyd Street, Kew (Peter Vigano, Jellis Craig), $5,002,000, under hammer, 5 bidders

12 Grange Avenue, Canterbury (Glen Coutinho, RT Edgar), $4,800,000, after auction, 2 bidders

ALL JAMES BUYER AUCTION REPORTS CLICK HERE

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24 Loller Street, Brighton (Sam Gamon, Chisholm & Gamon), $1,500,000, under hammer, 7 bidders

23 Almond Street, Caulfield South (Marshall Rushford, Hocking Stuart), $1,611,000, under hammer, 7 bidders

39 Coppin Street, (John Bongiorno, Marshall White), $4,460,000, under hammer, 5 bidders

ALL JAMES BUYER AUCTION REPORTS CLICK HERE

Do you think Jeremy needs to use a rinse - he's looking a bit grey isn't he? Send us your thoughts in please. Anyway he's still got it as sold after this volcano auction at 2 Grong Grong Toorak for over $4,500,000

Do you think Jeremy needs to use a rinse – he’s looking a bit grey isn’t he? Send us your thoughts. Anyway he’s still got it, as 2 Grong Grong, Toorak sold after for over $4,500,000 – volcano auction.

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$3m+ is James Buyer Advocates bread and butter. We find the $3m+ market is normally a lot looser than the $1m+ market; meaning results vary more widely. This occurs for two key reasons:

1. Sellers have more flex on whether they will sell or not and often demand big prices and just wait- sometimes they wait forever.
2. Bidder numbers are normally a lot thinner on the ground at say $4m, than they are at $1m.

Enter stage right – The Beijing Express – circa 2009 and everything changed in Inner Melbourne when the government changed the FIRB rules. Chinese demand and money began to drive the PPP (property, position and price) market engines.

We went up a gear in October 2012 and into overdrive in February of this year (2015) – meaning a Blanket Market with almost everything selling. A graders, B graders and C graders were all lapped up in equal proportions and most at A grade prices. Our current Inner Melbourne market is still being driven by Asian buyers, nothing else including interest rates has affected the market between 2009 and 2015 like the Beijing Express.

In 2015 the $3m+ PPP engines are:

1. Big Land (Property Type)
2. Big Money (Price Segment)
3. Balwyn, Kew and Surrounds (Position) – most Bayside, Boroondara and Stonnington areas are strong but Balwyn and Kew are the engine drivers of Melbourne home buying markets.

Today’s $3m+ auctions stats from James Buyer Advocates Database

$3m290815$3m2908152

Off Markets
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At $3m plus, the off market and Expressions of Interest (EOI) is, at times, as big as the on market and once you get over $5m the off market/quiet sale is bigger than the public auction market. It has always been a strong part of our business in terms of turnover; it’s just that we don’t really report this segment for two reasons:

    1. Privacy
    2. Privacy and a third reason 3. Privacy

To give you an idea of how big the Off Market is that we operate in, here are a number of off market, private sales and EOI sells/buys in one of the key off market suburbs – Toorak. Other really big Off Markets where we buy are Hawthorn, Kew and Brighton. Won’t see any public lists here or in the agent’s windows of what’s on offer – sorry – its a competitive world and we work for our buying clients only.

Have split into three price segments. Over $5,000,000 – Over $7,500,000 – over $10,000,000. No names, no celebrity stories, no breaches of privacy – just proof of market size.

Glenbervie TOORAK Over $7,500,000 Clendon TOORAK Over $5,000,000 Sargood TOORAK Over $5,000,000 Linlithgow TOORAK Over $5,000,000 Grong Grong TOORAK Over $5,000,000 Linlithgow TOORAK Over $7,500,000 Torresdale TOORAK Over $5,000,000 Orrong TOORAK Over $5,000,000 Lansell TOORAK Over $5,000,000 Edzell TOORAK Over $5,000,000 Heyington TOORAK Over $7,500,000 Washington TOORAK Over $5,000,000 Boandyne TOORAK Over $5,000,000 Ledbury TOORAK Over $10,000,000 Hill TOORAK Over $5,000,000 Macquarie TOORAK Over $7,500,000 Maple TOORAK Over $7,500,000 Kooyong TOORAK Over $5,000,000 Clendon TOORAK Over $5,000,000 Canberra TOORAK Over $5,000,000 Irving TOORAK Over $10,000,000 Yar Orrong TOORAK Over $5,000,000 Power TOORAK Over $5,000,000 Douglas TOORAK Over $5,000,000 Illawarra TOORAK Over $10,000,000 Macquarie TOORAK Over $5,000,000 St Georges TOORAK Over $5,000,000 Irving TOORAK Over $5,000,000 Kent TOORAK Over $5,000,000 Eldene TOORAK Over $5,000,000 Wallace TOORAK Over $5,000,000 Russell TOORAK Over $10,000,000 St Georges TOORAK Over $10,000,000 Toorak TOORAK Over $5,000,000 Chastleton TOORAK Over $5,000,000 Montalto TOORAK Over $7,500,000 Wallace TOORAK Over $7,500,000 Struan TOORAK Over $10,000,000 Glen TOORAK Over $5,000,000 Selborne TOORAK Over $5,000,000 Lansell TOORAK Over $10,000,000 Kooyong TOORAK Over $7,500,000 Forrest TOORAK Over $7,500,000 Stonnington TOORAK Over $10,000,000 Maxwell TOORAK Over $5,000,000 Grange TOORAK Over $5,000,000 Towers TOORAK Over $10,000,000 Macquarie TOORAK Over $5,000,000 Clendon TOORAK Over $5,000,000 Kooyong TOORAK Over $5,000,000 St James TOORAK Over $5,000,000 Hopetoun TOORAK Over $5,000,000 Devorgilla TOORAK Over $5,000,000 Yarradale TOORAK Over $7,500,000

Some of the Biggest Off Market Players (Just in Stonnington) that we deal with: Mike Gibson, Marcus Chiminello, Gerald, Jeremy Fox, Ross Savas, Tim Derham, Jock Langley, Rob Vickers Willis, Justin Long and Peter Bennison, Andrew McCann and John Morrisby to name a few. In Boroondara and Bayside there are also strong numbers of off markets.

QUACK QUACK: Before you get too carried away with off markets – because any agent will tell you of a few homes that they say are off markets – but maybe they are not. Perhaps you might like to read our Off Market story on when is an Off market really for Sale – The James Duck Test – Click Here

IF WE CAN HELP you with off market and Expression of Interest homes in Stonnington, Boroondara and Bayside – Gina Kantzas 0457 835 255, Mal James 0408 107 988.

Gerald sold it - everyone knows who we're referring to. He's sort of like Prince and Sting - the rock star of our Saturday's. Anyway Mr One Name sold 14 St Georges Court Toorak to the only bidder for around $500,000 more than the pass in at $4,850,000

Gerald sold it – everyone knows who we’re referring to. He’s sort of like Prince or Sting – you know the one name rock star of our Saturdays. Anyway, Mr One Name sold 14 St Georges Court, Toorak to the only bidder for around $700,000 more than the pass in at $4,850,000. Mmmm handy.

James Buy-Sell

Buying is our business, but more and more we are involved in the sell management side of things for our clients. Our clients want the whole buy /sell process professionally managed with one contact – one who sits on their side of the table for the buy and the sell or the sell and the buy – somebody they can trust.

Here is what we do before or after we’ve bought for you; when you asked us to help you sell also.

1. Agent Selection – Are all footballers the same? Then why do you think all agents are the same? A good agent sells your home for $3,320,000 and a poor agent gets $2,975,000. But hey you saved $5,000 commission on the latter.

2. Agent Interviews (with you). Organising the right ones, presentations, commissions, marketing etc.

3. Process Management: Agents make promises, or maybe a better way of putting it is, agents make commitments to you. Who is making sure the agents keep those commitments and then some.

4. Critical Thinking – The best agents think critically through a deal – many poorer agents do absolutely no critical thinking. Ongoing Critical thinking and discussion is vital to maximise your position.

5. POINTY END discussions – When a selling agent has 12 homes to sell, 400 call backs and 23 diary appointments this week AND somebody (a buyer) says, I’d like to make an offer at 7.15 pm tonight on your home, what do you think the most common response is?

      • Naaaah. Its going to auction
      • No way the seller wants an offer
      • I’m busy can we talk next week
      • No contracts in – sorry
      • Have you got a home to sell
      • Can you speak to my junior please, I’m busy right now
      • How much, really, you’re joking, they’ll never accept that
      • All of the above

OR IS IT

      • Sure – when would you like to meet for a coffee. How does 7.15pm at Georges Wine Bar sound and we can discuss figures and terms and what you may want to achieve in a possible exchange.

What are you paying the $40,000, $60,000 or $80,000 commission for – marketing admin, doorman and a big mouth on auction day?

BUYER MANAGEMENT AND CARE is the single most important job for a SELLING AGENT and it is singularly the MOST NEGLECTED AREA of SALE – by many (not all) agents.

Don’t believe me. Think about:

1.    UNDERQUOTING

2.    ACCESS

3.    INFORMATION DISSEMINATION

4.    The Rise of BUYER AGENTS

At James we work for our buyers when they want to buy; and then when they want to sell, we work for them as well.

James Buy/Sell Service

Phone call Starts it – Mal James 0408 107 988 and IT’S FREE – (meaning no additional cost) – it comes off the negotiated selling agent fee if you so choose.

Brighton, Armadale, Hawthorn, Albert Park 98043133 or Mal direct on 0408 107 988.

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