Why selling in winter is a great idea

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Winter is typically a slow time of year for real estate sales due to the misconception that it’s best to sell in spring, but selling property in winter offers unique opportunities that would otherwise be missed in the busy warmer months.

In fact, selling property in winter often provides a high sale price as buyer demand is still steady and with fewer properties to choose from, the seller has less competition.

Less homes to compete with = more attention
Because most people think they shouldn’t list their property in winter, there are very few homes to buy during the colder months. However, potential buyers are still on the prowl. With a lot less competition it means a lot more interest in your property; more than you would get in a saturated market.

More motivated buyers
With winter open homes, you are more likely to get motivated buyers, who are actively looking for property. Fewer tyre kickers means a better experience for the qualified buyers, with the likely outcome being they are more willing to pull the trigger and submit an offer.

Stable property value
With less property on the market, yet with stable demand, the rules of supply and demand come into play. With less competition on the market, property owners are able to hold their prices, without having to succumb to competition pressure.

Selling property in winter is a good idea. There are always people looking for real estate at any time of year, and it could work to your advantage.

If I can assist you regarding the sale of your property, please contact me: phone 0400 221 592 or email Jamie.hershman@century21.com.au

The Dangers of DIY Real Estate

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There seems to be a bit of a trend towards people ‘going it alone’ these days and wanting to sell their own property without the help of an agent. After all, there’s a wealth of ‘how-to’ information online when it comes to real estate.

People are generally hesitant to DIY their own car repairs, even hair styling is usually the domain of a professional – yet it’s interesting that many are willing to take a gamble on their biggest asset.

I’m sure there are cases where this can be handled successfully, but I’ve heard many other stories that have not had happy endings and have turned out costly and time-consuming for all involved.

Professional real estate agents understand the intricacies of selling property better than anyone. We have the qualifications, experience and expertise to market and sell properties and to help vendors get the best possible price and we can also help you find your new property at the same time.

There are many other good reasons to work with an agent.

Agents act as a buffer between you and the marketplace, saving you time and stress and filtering all enquiries while sorting serious buyers from the merely curious.

Agents also possess intimate knowledge about your neighbourhood. We can quickly and efficiently identify comparable local sales and supply important information on schools, shopping, transport and other demographics.

An experienced agent will do all we can to help property vendors settle on a realistic price and will then guide and manage negotiations – this is an extremely delicate and important process and one that’s incredibly difficult and stressful for the home owner to manage alone.

Agents, unlike most buyers and sellers are removed from the emotional aspects of the transaction. Good agents are not messengers, delivering buyer’s offers to sellers and vice versa. We are professionals who are trained to represent their client’s best interests.

Real estate agents are across the true market conditions and the climate in which you are selling and buying. There’s little value on relying on armchair experts, your best friend’s views or even media reports.

Not only are agents immersed in the sector every day, many agents also network with other professionals and will share useful market information.

Then there’s all the paperwork. There’s a lot to keep track of and small oversights or mistakes can end up being costly and messy to sort out.

It’s also worth remembering that referrals are the basis for an agent’s success. Few agents would survive if their livelihood was dependent on consistently drumming up new business. Agents understand the importance of ‘word of mouth’ as one of the most powerful forms of marketing available, and this gives us a strong incentive to make sure our clients are happy.

Saving on advertising costs and the agent’s commission is the main reason most people consider marketing and selling their own property. But are these relatively small savings really worth it when considering the time, energy, stress, difficulty in negotiating a superior price and the potential costs should things go wrong when handling the sale on your own?

If I can assist you regarding the sale of your property, please contact me: phone 0400 221 592 or email Jamie.hershman@century21.com.au

Common Signs That It May Be Time To Move

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Some people like moving house as it gives them the feeling of having a “fresh start” every few years. But for most of us, moving is a stressful experience we prefer to put off as long as possible.

Sometimes it is necessary though, and there are certain definite signs that the time has come for you to start looking for a new home.

The most common of these is that your family has outgrown your current home. As children get older they need more space, such as their own bedrooms, and their own work/ recreation areas. They also don’t necessarily leave home these days as soon as they’ve finished studying, and if you also need to accommodate ageing parents, it is very likely that you will need a bigger home.

Similarly, if you were single but are now part of a couple, you will probably want to move soon from your smaller house or unit to something bigger. New marriages and partnerships are another major reason for people to move home.

Alternatively, you could be in a situation now where your family has grown and gone off to set up their own homes and you suddenly have too much house – that is, rooms you don’t even use and a big garden that is troublesome to maintain. And if you are about to retire or have already done so, you may feel even more strongly that the time has come to sell and move to a new place that gives you more security, better weather, and more freedom to do what you want.

Some people love home improvement and DIY, but if you want to spend your weekends doing something other than mowing the lawn or retiling and repainting, it could be that you need to move to a newer home with less maintenance required. Or you may just want a more energy efficient, “green”, home that will save you money on utilities.

Century 21 Hills & Country has a range of properties to match a variety of lifestyle and investment needs and would be happy to help you take advantage of the market conditions throughout the year.

If I can assist you to find a more suitable home please contact me: phone 0400 221 592 or email Jamie.hershman@century21.com.au

Turning Renovations into Profit 

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Australian’s spend billions of dollars each year on renovating, but what if you could turn these costs into profits? Hundreds of amateur property developers are turning their hard work into cash by following a few simple tips and tricks.

Calculate the initial cost of the property, plus the cost of renovations and the possible sale price to see if the potential profit is worth it – a 15 to 20 per cent return on investment is generally considered ideal.

Research the property’s location before you start designing your renovation – determine who lives there, the local culture and overall demographics, then tailor your renovation to suit that market. If your suburb attracts retirees, designing a six bedroom family home is probably not suitable.

Kitchens and bathrooms sell houses so make sure these areas are perfectly renovated with top quality fittings and fixtures.

Analyse the property’s floor plan to assess where value can be added – adding extra bedrooms and bathrooms, for example, can add significant value to a property.

Adding a parking space if there is little or no on-street parking available and creating outdoor living areas will also add value to the property.

Tie the look of the whole property together – aim for a clean, co-ordinated and modern look throughout the property. See what display homes in the area are doing and follow their formula.

Presentation is everything – keep the interiors free of clutter and any personal items, and keep walkways and gardens tidy.

Remember, the main goal is to make money, not to live in the house yourself, so ensure that you decorate using neutral shades without too many bold colours and eclectic design features.

I’d be happy to discuss your renovation project and provide guidance to ensure you don’t overcapitalise based on your home’s current value and the characteristics and growth trend in your local area. If I can assist, please contact me: phone 0400 221 592 or email Jamie.hershman@century21.com.au

Readiness (not season) should guide when you sell

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When should I sell my property? It’s one of the most common questions we hear in the real estate industry, with spring usually highlighted as the ideal season for real estate sales. But do we place too much emphasis on the season instead of when we’re actually ready to buy or sell?

A joint study by Monash, Griffith and Swinburne Universities found there were five key measures that affected property buying patterns between 1995 and 2015. The weather was certainly one factor, but others included the new school year, the start of public service contracts, tax time and holiday periods.

The extent of these influences differed from city to city, but in Adelaide, April was subsequently deemed the best month of the year to sell a house, while July was deemed the best month to buy.

Statistics like this definitely make for interesting reading, but at the end of the day there will always be pros and cons to whatever time of year you are considering a property decision.

If you’re in the market to buy or sell, my advice is to base your decision on when you feel ready; when market conditions favour your needs and when you find the property you want at a price that meets your budget.

To that end, always start by doing your research. Get a feel for the market by reviewing relevant property listings in your area, chat to real estate agents at open inspections and keep tabs on sale prices. And be sure to talk to your bank as well to ensure your finances are in order before you make your move.

By doing your homework and then presenting your property appropriately, you’ll always maximise your chances of a better sale – no matter what the season!

If I can assist you in making this decision please contact me: phone 0400 221 592 or email Jamie.hershman@century21.com.au

Should You Buy Or Sell Your House First?

You’re ready to look for your next home –  now comes the all-important question of which comes first? Do you buy the new home first, or sell your current property?

A lot depends on your own circumstances and the current property market, for example whether you are buying or selling in the same area, or whether you are moving to a new location. So to help you make your final decision, consider the following factors carefully and how they affect your specific situation:

How easy is your present home going to be sell?

The average sale time varies from suburb to suburb and from month to month. Your sales agent can advise you about current market conditions, recent comparable sales in your area and the possible demand for your home to help make the decision clearer.

Do you know what your home is worth?

Until you have an approximate value it will be difficult to establish an accurate picture of what you can afford to spend on your next property. Your sales agent can show you a Comparative Market Analysis of what similar properties have sold for in your area in recent times to help you gain an understanding of the potential worth of your property.

What if you sell and don’t find a new home?

If you choose to sell first, you will instantly become a cash buyer and be in a far stronger to purchase as soon as you see what you like. And if you have already done your homework and know the market that you are looking to buy in, you will be ready to confidently take that next step.

What if you haven’t sold and have found your dream home?

The best way to avoid the pressure of confirming the contract on the home you want to purchase and taking the risk your own home will sell in time is to talk to the experts first.

Obtaining quality advice on your own particular situation from your sales agent will enable you to confidently make any final decisions.

What if house prices are rising?

If you’re in a rising market, it could make sense to buy your new home first at its current market value, negotiate a longer settlement, and have your current property potentially rise in value at the same time. In this scenario, you could earn more from selling your existing property after the purchase of your new property.

What if house prices are falling?

Falling house prices is also an indication of a slower market, meaning it could take you longer to sell your existing home, and you’ll be committed to a new property.

If I can assist you in making this decision please contact me: phone 0400 221 592 or email Jamie.hershman@century21.com.au