Early Markets Surprisingly Volatile
Stock has increased and more coming on BUT Bidderman per auction are falling. Showing active market has little depth – shallow.
Pudding Proof
SOLD by JAMES BUY SELL, BUXTON, and SHELTER BY THE BAY.
The proof is in the pudding – private inspections, a truthful SOI, and a clear and transparent negotiation process were liked by all sides AND WORKED.
I do believe in Private Inspections
Last week, we discussed OFIs and gained some perspective.
My preference for Private Inspections over Open for Inspections isn’t about criticizing OFIs but rather about emphasizing the value of Private Inspections.
Give me a top-notch agent and a private inspection process, and nine times out of ten, it’s a better deal for everyone involved.
I do not believe in OFIs
Set to Soar 2024 A Great Success.
I do not believe in OFIs
True I don’t believe in underquoting and poo(r) presentation and low commissions because as a buyer agent I know that underquoting, poo(r) presentation and low earning agents standing on doors helps me buy better for my buying clients often.
But this is still not the biggest thing I don’t believe in. The biggest is the OFI and the higher home on the food chain, the stronger my aversion to Open For Inspections.
You Can’t Just Rely On The Market
However, the real shift in 2024 Real Estate lies not in tech, but in the increasing recognition among agents, advocates, buyers, and sellers of the value in collaboration and healthy ethical competition & bespoke thought.
The Future is So Bright
As we begin our Year in Review – 2024 feels super exciting
This has been a wonderful year in my life, in my property dealings and made me even more incredibly positive about the future of humans.
I sincerely hope you have had the same kind of year and I know many of you have.
Life’s highs are about emotions and why I love buying and selling property, almost never investments, almost always for a family to live in… because I feel the emotion, and it makes me feel alive.
Collaboration Innovation Trust
In the intricate dance of off-market and EOI negotiations the extra sauce combo of collaboration, innovation, and trust is not just beneficial but often crucial in achieving outcomes that are favorable for you, the buyer, seller and/or even the agent.
OMG! Boroondara Councillors
Are you serious councillors, or is this a misprint in The Age (Adam Carey Nov 14)
“Boroondara (all 11 councillors) said it opposed the government’s decision to give residents the freedom to build secondary homes – or granny flats – on their properties without a planning permit, raising concerns about neighbourhood character, amenity and car parking.”
Councillors, have you got no children, no humanity, no economically challenged workers? Do you ever leave your castles and see what is happening in the real world to families, to renters, to those we all rely on in the community who don’t earn 500K a year.
$30m of No Compromises
As we travel through our fourth and final market of the year – the pre Santa 2023M4 – and in a week where Sim, Gina and Mal quietly completed $30million in transactions – although none at auction, little coverage on the internet and no mainstream media – we thought it could be interesting for us to put forward some thoughts on how we see negotiations.
2023M4 – Lava is Flowing
The market was so frosty last week I was starting to think we may be in for another down market at 2023M4.
Hey what do I know about Melbourne real estate…….talk of interest rises, wars and many other not so nice things and today on a Super Saturday:
BANG, the market lifts and Big Time!
AI
In Brighton yesterday, hosting a couple of my fav and super smart students from Blockchain Innovation class RMIT – Austern (Malaysia) Beatrice (Canada) Kelly (China)
Melbourne’s Suez Canal
Now, in October, we find ourselves in Melbourne Property’s own version of the Suez Canal.
The only consistent time of the year when so much needs to squeeze into a very short time space, as we exit the September footy and school holiday interruptions and approach the interruptions of the November Melbourne Cup holiday week preluding the run to Santa.
Market has changed again
Spring 2023: Melbourne’s housing market sees decreased auction transparency with only 20% selling under the hammer. Prices slightly retreat, particularly for non-premium homes. Inner East remains a hotspot due to Aussie Asian demand, while Bayside and Stonnington face challenges. Market volatility is evident.
Done in 4 hours
They saw it for the first time at 10:00 am yesterday and by 2:00 pm, after a rigorous diligence process including legals, building inspections, and valuations, it was theirs.
Stats can be deceptive! Bidderman says early Spring easing
The market’s clearance rate is 70%, but it feels deceptive. It suggests a strong market, but a week in, doubts arise.
The entire market seems to be softening.
Same House Same Agent 50% up in 3 years
3 Chrystobel Crescent Hawthorn (Grace Park). Sold under the hammer today by Desiree Wakim for $7,400,000 – 2 bidders – no change in the home from 2020 when it sold for $4,850,000 with the same agent
How To Start a Reno Well
With the July/August Market feeling very different to the June Market, the next 100 auction test beginning August 26 will be compulsory viewing for all those buying and selling who have money on their mind.
Hawthorn Volcano @ $8m
Today Gina, Mal and the team at James Buy Sell bought for clients a very special home at auction, 25 Hawthorn Grove Hawthorn. Price Quote was $6,800,000 to $7,300,000. On Market at $7,500,000. Sold $8,020,000. 4 Bidders. Crowd over 100.
Below are our James Buy Sell rating, provenance, and due diligence, some correspondence, valuations, and thoughts the day before and on the day of the auction.
Weekly Cycles can be 10% of Price
Stay tuned to Marketnews and find out what the market is really doing NOW – not what it was doing historically, several months ago.
Getting it right is 10%!
Renovation Fairytales
In the past month, we have successfully completed five stunning renovations in Elwood, Brighton, and Glen Iris—all of them under $500,000.
