Trading Up? Its as good as it gets!

Saturday, May 18th, 2024
MIDDLE PARK, 132 Page Street SOI: $4,850,000 - $5,300,000 Sales Agent: Warwick Gardiner – Jellis Craig Crowd: 110 Opening Bid: $4,850,000 VB On market: $5,450,000 Under hammer: $5,760,000 Bidders: 4 Photo: Kieran

Mal James 

Buy Sell Agent

0408 107 988   

mal@james.net.au

Last week the market statistically did what we didn’t feel it was doing in real life. It looked good.

 

Today it was back in the form we have seen overall this year – it was tough.

 

This week, a bumper edition of good news though:

 

  • This market may be tough, but for upscalers buying and selling, it’s brilliant with a good Buy Sell strategy.
  • There are some great agents out there, and we have two articles on them.
  • Also a good news article on an architect – lately, they have been harder to find.
  • As well, all the news from around the auction grounds from Hawthorn to Toorak to By the Bay in the 2nd week of a 2nd 2024 Market – May 2024M2.

Homes at the Top End are taking a lot longer to sell than in good times and currently usually with price revisions (code for price discounts) or they are not selling.

 

This is not being negative; this is being factual. And with facts, you can sell your home better and you can buy your next home better.

 

Factually, if you are trading up, then the current market is the best I have seen since pre-Covid. Price you home correctly as it’s selling and then make your money on good buying. If you are buying or selling, then we can currently show you a range of opportunities as there is plenty of stock (as a general rule, both off-market and on-market).

 

If you are selling, today’s stats prove you need to be persistent, price responsive, and patient. You all know my 3 Ps – Price, Property, and Position when buying. Well, today here are the 3 Ps when selling: Persistent, Price Responsive, and Patient.

 

Volcanoes (real auctions with 4 plus bidders) vs. Ducks (fake auctions with no bidders): Good news this weekend the market proved, that if you price correctly and market well with a good agent, then you can sell well.

 

Good News Volcanoes 4 Bidders: (5)

 

HAWTHORN EAST, 43 Clive Road Sales Agent: Sam Christensen – Anton Zhouk

HAWTHORN EAST, 8 Wiseman Street Sales Agent: James Tostevin – Marshall White

GLEN IRIS, 41 Alfred Road Sales Agent: Sam Macaluso – Jellis Craig

MIDDLE PARK, 132 Page Street Sales Agent: Warwick Gardiner – Jellis Craig

BLACK ROCK, 54 Arkaringa Crescent Sales Agent: Samuel Jay – Marshall White

 

Bad News Ducks 0 Bidders: (10)

 

Elwood (2), Hampton, Black Rock, South Melbourne, Brighton East (2). In fact, almost half the auctions we covered today in Bayside had no bidding. Whereas in Boroondara, almost every auction had bidding except 32 in Hawthorn, and Stonnington had such a small sample size of over $2m auctions, we could not do meaningful stats – 1 duck in South Yarra.

 

This week, for every volcano, there were two ducks. Last week was line ball with slightly more volcanoes than ducks.

 

The market is volatile, but there is a predictability about it: if you are not priced correctly, no matter how good your home is, with very few exceptions, it is NOT selling. However, if you are priced correctly and you have an A-Grader, then it is still attracting good interest. When the market is completely flat, volcanoes are almost non-existent. In this Mark (2024M2) market, they have not been overflowing, but they are happening when conditions are right.

 

But it’s not all tough love news in this edition. Below is a good news story on Sales Agent Paul Richards and his patience, persistence and price adjustment and the value of multi-agent selling AND architect Tristan Burfield, who gave such a good experience to our clients, Helen and Devinder, that we have recorded their words here, proving that architects can deliver a good experience if they can focus on the client and not themselves… often a lot harder than you think it should be… bit like us agents, hey!

 

When buying, I am looking for a buyer agent who can deliver a better home than you can in this opportunity market. Good buying in your 30s, 40s and even 50s and you set you and your family up for life.

 

When selling, I am looking for an agent who can bring me a result, bring me a real buyer and is talking to me truthfully because in Bayside half the sellers listened to the BS and got donuts this weekend.

 

Any selling agent can sell more for less, my focus is selling less for more and any buyer agent can see problems, but that is not really the problem, the problem can be your buyer agent’s attitude about the problem. Both these quotes came from my work colleagues Zali ‘Skip’ Reynolds and Sam ‘The Polite Gun’ Mercuri.

 

Go Pies we luvs ya all!!

Last Week - better than expected

Bidderman
2.0
Stock
Average
Clearance
76%
Auctions Attended
29
Volcanoes
17%
Ducks
14%

Today - mixed but overall poor

Bidderman
1.3
Stock
Average
Clearance
53%
Auctions Attended
32
Volcanoes
16%
Ducks
28%
Volcano: HAWTHORN EAST, 8 Wiseman Street SOI: $2,650,000 - $2,850,000 Sales Agent: James Tostevin – Marshall White Crowd: 50 Opening Bid: $2,650,000 VB On market: $2,910,000 Under hammer: $3,100,000 Bidders: 4 Photos: Elle

HAMPTON CLASSIC HOME FOR SALE NOW

4 Bedrooms, 3 Bathrooms, 2 Car Spaces

women in Bayside real estate who are making a difference

Shelter By The Bay: Simone Clarke (0400 304 111) Zali Reynolds (0422 576 049)

Two of Melbourne’s top real estate agents are working in Bayside. Congrats to Matthew Pillios of Kay and Burton at no 2 and perhaps even more impressive, as she is not one of the corporate big boys, at No 5 is Zali Reynolds of Shelter Real Estate. The full article can be found in Herald Sun May 17th – author Nathan Mawby. Congrats to the rest of the Top 5, great agents whom we have bought off a number of times Helen Yan, Carla Fetter and Sam Rigopoulos. 

'Round the Auction Grounds This Week

Volcano: HAWTHORN EAST, 43 Clive Road SOI: $3,000,000 - $3,300,000 Sales Agent: Sam Christensen – Anton Zhouk Crowd: 60 Opening Bid: $3,000,000 On market: $3,500,000 Under hammer: $3,595,000 Bidders: 4 Photo: Randall

Biggest Auction Sale Today

Volcano: MIDDLE PARK, 132 Page Street SOI: $4,850,000 - $5,300,000 Sales Agent: Warwick Gardiner – Jellis Craig Crowd: 110 Opening Bid: $4,850,000 VB On market: $5,450,000 Under hammer: $5,760,000 Bidders: 4 Photo: Kieran
BY THE BAY - BAYSIDE & PORT PHILLIP

Last Week

Bidderman
1.7
Stock
Average
Clearance
77%

Today

Bidderman
1.7
Stock
Average
Clearance
77%
BRIGHTON EAST, 31 Robinson Street SOI: $3,500,000 - $3,700,000 Sales Agent: Halli Moore - Buxton Crowd: 40 Opening Bid: $3,500,000 VB Passed in: $3,500,000 VB After auction: $undisc Bidders: 0 Photo: Catherine

Week 2 – 16 auctions

Clearance: 56%

Bidderman: 1.06

 

Week 1 and 2 combined – 29 auctions

Clearance: 66%

Bidderman: 1.34

 

BRIGHTON EAST, 6 Lysander Street

SOI: $2,150,000 – $2,300,000

Sales Agent: David Hart – Buxton

Before auction: $undisc

Bidders: 1

 

BLACK ROCK, 8 Arkaringa Crescent

SOI: $2,380,000 – $2,580,000

Sales Agent: Nick Sinclair – Hodges

Before auction: $undisc

Bidders: 1

 

BRIGHTON EAST, 5 Davies Street

SOI: $2,350,000 – $2,450,000

Sales Agent: Johnny Clarkson – Buxton

Before auction: $undisc

Bidders: 1

 

ELWOOD, 65 Ruskin Street

SOI: $2,900,000 – $3,150,000

Sales Agent: Chrisal

Before auction: $undisc

Bidders: 1

 

MIDDLE PARK, 132 Page Street

SOI: $4,850,000 – $5,300,000

Sales Agent: Warwick Gardiner – Jellis Craig

Crowd: 110

Opening Bid: $4,850,000 VB

On market: $5,450,000

Under hammer: $5,760,000

Bidders: 4

Two early bidders kicked things off. A third bidder jumped in to bring the property on the market. A late fourth bidder tried to steal the auction, but bidder 3 determinedly fought them off to secure the property under the hammer.

 

BRIGHTON, 5 Lindsay Street

SOI: $3,600,000 – $3,750,000

Sales Agent: Michael Derham – Whitefox

Crowd: 25

Opening Bid: $3,700,000 VB

Passed in: $3,710,000

After auction: $undisc

Bidders: 1

Michael Derham opens the bidding with a vendor bid of $3,700,000. A hopeful buyer adds $10,000 and the home is passed into him for further negotiations. Sold after.

 

BLACK ROCK, 54 Arkaringa Crecent

SOI: $2,000,000 – $2,200,000

Sales Agent: Samuel Jay – Marshall White

Crowd: 50

Opening Bid: $2,000,000

Passed in: $2,300,000

After auction: $undisc

Bidders: 4

The auction saw competition however concluded with the property being passed in at $2.3 million. Sold after.

 

BRIGHTON EAST, 31 Robinson Street

SOI: $3,500,000 – $3,700,000

Sales Agent: Halli Moore – Buxton

Crowd: 40

Opening Bid: $3,500,000 VB

Passed in: $3,500,000 VB

After auction: $undisc

Bidders: 0

Halli Moore of Buxton uses his time in the sun to extol the values of the home but it opens and closes with a vendor bid of $3,500,000

 

ELSTERNWICK, 13 Staniland Grove

SOI: $3,300,000 – $3,600,000

Sales Agent: Bill Stavrakis – Biggin Scott

Crowd: 60

Opening Bid: $2,950,000

Passed in: $2,950,000

After auction: $undisc

Bidders: 1

Auctioneer Bill Stavrakis encouraged others interested to join in the bid however after a short break to consult with the vendors the property was soon after passed into the single Bidder.

 

BRIGHTON EAST, 12 Plunket Street

SOI: $2,000,000 – $2,100,000

Sales Agent: Chris Hassall – Buxton

Crowd: 25

Opening Bid: $2,000,000 VB

Passed in: $2,000,000 VB

Bidders: 0

Chris Hassall from Buxton opens and closes the bidding in front of the small crowd at $2,000,000

 

ELWOOD, 88 Mitford Street

SOI: $2,500,000 – $2,650,000

Sales Agent: Sam Gamon – Chisholm and Gamon

Crowd: 22

Opening Bid: $2,575,000 VB

Passed in: $2,600,000 VB

Bidders: 0

Mr Gamon encouraged opening bids, however with no initial offers he placed a $2,575,000 vendor bid. Shortly after he placed a second vendor bid of $2,600,000. With no further bids the property was formally passed in.

 

SOUTH MELBOURNE, 270 Albert Road

SOI: $3,100,000 – $3,400,000

Sales Agent: Besim Kanacevic – Belle

Crowd: 17

Opening Bid: $3,200,000 VB

Passed in: $3,200,000 VB

Bidders: 0

Despite its promising attributes, no bidders stepped forward and the property was passed in on a vendor bid of 3.2 Million

 

BLACK ROCK, 76 Stanley Street

SOI: $2,425,000 – $2,525,000

Sales Agent: Andrew Soloman – Belle

Crowd: 17

Opening Bid: $2,425,000 VB

Passed in: $2,425,000 VB

Bidders: 0

A contemporary family home in Black Rock was passed in on a vendor bid $2.425 million.  The Auction failed to solicit any active bids from the crowd

 

HAMPTON, 40 Grenville Street

SOI: $6,200,000 – $6,800,000

Sales Agent: Joel Fredman – Fredman

Crowd: 60

Opening Bid: $5,900,000 VB

Passed in: $5,900,000 VB

Bidders: 0

Michael Paproth conducts the auction for Fredman and there’s a number of onlookers in the sunshine, however, no bidders as the home is opened and closed at the vendor bid of $5,900,000

 

ELWOOD, 6 Kendall Street

SOI: $2,600,000 – $2,860,000

Sales Agent: Campbell Kilsby – Kay & Burton

Crowd: 26

Opening Bid: $2,600,000 VB

Passed in: $2,600,000 VB

Bidders: 0

A small crowd gathered to watch this Victorian Home with a large street frontage pass in on a vendor bid of $2.6 million

 

BRIGHTON, 479 New Street

SOI: $3,700,000 – $3,900,000

Sales Agent: Johnny Clarkson – Buxton

Crowd: 30

Opening Bid: $3,700,000 VB

Passed in: $3,875,000

Bidders: 3

Shelter by the bay Buyer Bank

We have a growing buyer pool at Shelter ByThe Bay. We are looking for homes for these buyers.

HAMPTON GOLDEN TRIANGLE: Looking for family home, budget $8m to $9m, land over 1400 swm or room for a court.

HAMPTON: Looking for family home, budget $3m to $4m.

Brighton: Looking for family home - modern contemporary, can be a little dated, budget $8m.

Brighton: Looking for family home - modern contemporary, up to $12m.

BRIGHTON EAST: Local family loooking for a ready to move in bigger home with a budget of $5m - needs to be close to schools.

BRIGHTON EAST: Move in bigger home with a budget up $8m - Marriage Road Precinct.

BOROONDARA

Last Week

Bidderman
2.3
Stock
Average
Clearance
83%

Today

Bidderman
1.6
Stock
Average
Clearance
54%
CAMBERWELL, 21 Kerr Crescent SOI: $3,800,000 - $4,150,000 Sales Agent: Todd Braggins - Shelter Crowd: 70 Opening Bid: $3,800,000 VB On market: $4,220,000 Under hammer: $4,650,000 Bidders: 3 Photo: Randall

Week 2 – 13 auctions

Clearance: 54%

Bidderman: 1.61

 

Week 1 and 2 combined –

Clearance: 68%

Bidderman: 1.92

 

GLEN IRIS, 12 Allison Avenue

SOI: $2,100,000 – $2,300,000

Sales Agent: Todd Braggins – Shelter

Before auction: $undisc

Bidders: 1

 

MONT ALBERT, 12 Gordon Street

SOI: $2,600,000 – $2,800,000

Sales Agent: Stuart Evans – Marshall White

Before auction: $undisc

Bidders: 1

 

HAWTHORN EAST, 43 Clive Road

SOI: $3,000,000 – $3,300,000

Sales Agent: Sam Christensen – Anton Zhouk

Crowd: 60

Opening Bid: $3,000,000

On market: $3,500,000

Under hammer: $3,595,000

Bidders: 4

After a couple of bidders dipped their toes in at the bottom of the quote range a new bidder jumped in with $150,000 straight to the top of the range. Two of the four bidders battled in 10s and 5s as the home surpassed the reserve.

 

HAWTHORN EAST, 8 Wiseman Street

SOI: $2,650,000 – $2,850,000

Sales Agent: James Tostevin – Marshall White

Crowd: 50

Opening Bid: $2,650,000 VB

On market: $2,910,000

Under hammer: $3,100,000

Bidders: 4

Auctioneer James Tostevin commenced the bidding placing a vendor bid of $2,650,000. Four bidders entered the race and the property was declared on the market for $2,910,000. The property sold under the hammer for $3,100,000. 

 

CAMBERWELL, 21 Kerr Crescent

SOI: $3,800,000 – $4,150,000

Sales Agent: Todd Braggins – Shelter

Crowd: 70

Opening Bid: $3,800,000 VB

On market: $4,220,000

Under hammer: $4,650,000

Bidders: 3

A well-paced auction by Todd Braggins. An initial vendor bid was required before three bidders galloped some $400,000-plus past the reserve.

 

GLEN IRIS, 41 Alfred Road

SOI: $2,100,000 – $2,300,000

Sales Agent: Sam Macaluso – Jellis Craig

Crowd: 80

Opening Bid: $2,100,000 VB

On market: $2,380,000

Under hammer: $2,440,000

Bidders: 4

A vendor bid was placed to start the bidding at $2,100,000. There bidders joined the race and the property was declared on the market at $2,380,000. A fourth placed a bid before the second bidder purchased the property for $2,440,000. 

 

KEW, 12 Yarra Street

SOI: $3,000,000 – $3,300,000

Sales Agent: Lloyd Lawton – Jellis Craig

Crowd: 45

Opening Bid: $2,900,000 VB

Passed in: $3,000,000

After auction: $3,100,000

Bidders: 1

The Hilly Studley Park environs drew one bidder, who held up a paddle at $3,000,000. Sold after auction.

 

GLEN IRIS, 5 Lurnea Road

SOI: $2,900,000 – $3,100,000

Sales Agent: Jesse Matthews – Marshall White

Crowd: 25

Opening Bid: $3,700,000 VB

Passed in: $3,710,000

After auction: $undisc

Bidders: 1

Mr Wheeler both opened and closed the bidding, passing the property in on a single vendor bid of $2,900,000. 

 

HAWTHORN EAST, 80a St Helens Road

SOI: $2,500,000 – $2,750,000

Sales Agent: Hamish Tostevin – Marshall White

Crowd: 25

Opening Bid: $2,500,000 VB

Passed in: $2,550,000 VB

Bidders: 1

Auctioneer John Bongiorno opened the bidding placing a vendor bid of $2,500,000.
After consultation with the vendors a bidder placed a $50,000 bid. The property was passed in to the sole bidder for $2,550,000.

 

CAMBERWELL, 43 Athelstan Road

SOI: $4,200,000 – $4,600,000

Sales Agent: Sophie Su – Kay & Burton

Crowd: 80

Opening Bid: $4,200,000 VB

Passed in: $4,350,000

Bidders: 1

With no initial offers Mr Patterson placed a vendor bid of $4,200,000 to gain momentum, then shortly after another of $4,300,000. After a quick break a bid of $4,350,000 was placed, with no other bids being placed the property was shortly after passed in.

 

HAWTHORN, 3 Oak Street

SOI: $5,000,000 – $5,500,000

Sales Agent: Richard Winneke – Jellis Craig

Crowd: 40

Opening Bid: $5,000,000 VB

Passed in: $5,100,000

Bidders: 0

A quiet auction which saw vendor bids open and close proceedings.

 

CAMBERWELL, 16 Kasouka Road

SOI: $3,500,000 – $3,750,000

Sales Agent: Mike Beardsley – Jellis Craig

Crowd: 60

Opening Bid: $3,500,000

Passed in: $3,785,000

Bidders: 1

An engaged crowd witnessed a bit of action here before a pass in to one of two bidders for post-auction negotiations.

 

HAWTHORN, 34 Fordholm Road

SOI: $3,300,000

Sales Agent: Nicholas Franzmann – Marshall White

Crowd: 35

Opening Bid: $3,300,000 VB

Passed in: $3,300,000 VB

Bidders: 0

A quiet auction with only a single vendor bid at $3,300,000 pencilled in.

Good News on another agent - Paul Richards

Paul Richards almost singlehandedly made this deal work. Week in and week out in a very difficult market, he got what a competing agent described as a great price, and we concur. We love multi-agent because we know we cannot be the best at all times, but multi-agent often allows the best to come forward. Well done Paul Richards with 4 offers over the quiet campaign and well done to the clients for hanging in there and presenting magnificently every inspection – which were private inspections booked in beforehand. Persistence, Patience, and Price Responsive.

Good News on an Architect - Tristan Burfield

This was one of the most difficult EOI homes we had bought in 2018. Why?

 

Because it was so cheap for what it is and so good, and therefore so many people wanted it.

 

And it was a blind EOI negotiation, often the hardest for buyers, and thank heavens very few chose to hire a buyer agent.

 

Anyway, this week (5 or so years on), our clients Helen and Devinder contacted us to say thank you and to recommend their architect to our other clients.

 

Sim and I met Tristan for coffee, and he is a guy with his head screwed on and not up his… We liked him a lot and we can see why he did such a great job for our clients.

Callanans Road, Red Hill

On 18 Apr 2024, at 2:04 PM, Helen wrote:

 

 Hi Mal

I hope you are your team are all well.  Devinder and I are thoroughly enjoying our new house; it was definitely the right move for us we were lucky that you were able to bag the property for us!  

 

The reason for my email is to introduce you to our fantastic architect Tristan Burfield.  He did a first class job with our house and I’m sure he would be a valuable addition to your list of contacts.  He was featured in Architecture magazine last month https://architectureau.com/articles/one-to-watch-tristan-burfield/.  

 

I’ve taken the liberty of passing on your phone number so I expect that he will be in touch soon.

 

Make sure you drop in and see us when you’re down this way; we’d love to show you the house.

 

All the best

Helen

Date: 8 May 2024 at 6:04:38 PM AEST

 


Hi Mal & Simone,

Great to hear from you! I’m glad you had the chance to catch up with Tristan.

 

Our house-building adventure began in late 2018 when we decided to make a lifestyle change and move to the countryside. We found a beautiful property and immediately thought of you to help us secure it, given our positive past experiences.

 

The next step involved planning the construction of a new home on the property. Fortunately, we were introduced to architect Tristan Burfield. From the beginning, Tristan demonstrated excellent listening skills and clear communication. He not only met our expectations but also inspired us to explore creative possibilities.

 

Despite the common belief that building a house is stressful, working with Tristan was a delight—even through the challenges of lockdowns and supply chain disruptions, as he adeptly managed the project.

 

With the house now complete, we accelerated our move from the city, with your invaluable assistance in handling the sales process. Living in this wonderful home is a joy, and we are deeply grateful to everyone who helped turn our dream into reality.

 

Warm regards,

 
Helen & Devinder

Thats not a knife... thats a knife........drawer

STONNINGTON
MALVERN EAST, 20 Olive Street SOI: $2,500,000 - $2,700,000 Sales Agent: Tom Hayne – Marshall White Crowd: 50 Opening Bid: $2,500,000 VB Passed in: $2,520,000 After auction: $undisc Bidders: 1 Photo: Kieran

Week 2 – 3

Clearance: 33%

Bidderman: 0.66

 

Week 1 and 2 combined –

Clearance: 43%

Bidderman: 1.42

 

MALVERN EAST, 20 Olive Street

SOI: $2,500,000 – $2,700,000

Sales Agent: Tom Hayne – Marshall White

Crowd: 50

Opening Bid: $2,500,000 VB

Passed in: $2,520,000

After auction: $undisc

Bidders: 1

A late bid from the crowd went without competition and the bidder was ushered inside.

 

TOORAK, 1/1 Woorigoleen Road

SOI: $3,400,000 – $3,600,000

Sales Agent: Nicole French – Marshall White

Crowd: 20

Opening Bid: $3,000,000 VB

Passed in: $3,100,000

Bidders: 1

One bid from the 20-strong crowd was enough to secure the first right to negotiate.

 

SOUTH YARRA, 5a Nicholson Street

SOI: $2,095,000 – $2,295,000

Sales Agent: Nick Gatacre – Belle

Crowd: 30

Passed in: $2,150,000 VB

Bidders: 0

Without any crowd participation, the property was passed in.

Definitions & Data Points