Everton Park

 

For Sale

9.30 to 10.00am                15/38 Beneke St Chermside

9.30 to 10.00am                69 Hackman St McDowall

10.30 to 11.00am              7 Janssen St McDowall

11.30 to 12.00pm              31 Hillary Dr Warner

2.30 to 3.00pm                  7 Janssen St McDowall

 

Here at Madeleine Hicks HQ we have a problem. The good news is that it may not be unique to us. The bad news is that it’s nation-wide: There are more buyers than sellers, especially in the entry-to-mid-range property market.

With housing affordability the best it has been in over a decade, what the heck is going on, you might ask? Why are there not enough houses for sale to meet the continuing strong demand?

Well. Here’s four factors influencing the market at present:

  1. The season
  2. The budget and rattled consumer confidence
  3. Interest rates
  4. The economy

 

The first one – the season – is a much documented pattern: sellers typically hesitate to list properties with the approach of Winter and burst forth come Spring.

The second factor – the budget and consumer confidence – is more complex and destabilising and who knows just what the end result will be, but, given the budget impacts those already most marginalised, it’s sadly possible that many of these folk have more pressing concerns than securing their next property deal.

As for interest rates, they are the lowest they’ve been for ten years, so affordability is still a green light. And thanks to this post-budget nervousness, the longer consumers remain rattled; the longer interest rates will remain stable.

And finally, the economy: depending on whom you listen to, we’re either on the verge of a national-debt-induced-crisis, or things aren’t all that bad if you compare our debt levels to many other nations, but refer again to point two (the budget) and cue nervousness…

Yet, whatever your political views are, the problem comes down to a basic economic principle of ‘supply and demand’. And when (housing) supply is short, demand goes unmet. Or to put it into more human terms; for every home listed for sale, there are buyers competing. And there are buyers missing out…

So, if you’re one of those unlucky enough to have missed out on the home you’d set your sights on (or even a few properties) then, it’s not all bad news. Contact us and we’ll add you to our ‘Sneak Peek’ list where you’ll be emailed properties as they get listed with us, and most importantly, before the wider-market gets notified.

And for those of you thinking of selling, now might just be a good time: demand is strong and that’s a good indicator to getting the price you’re aiming for.

Thinking of selling? For an in-depth discussion of what you could expect in the current climate and a free Comparative Market Analysis of properties similar to yours contact our office and talk to one of our great (not just good), but great agents.

Our local paper, the North-West News, recently ran an article quoting the latest Real Estate Industry of Queensland’s (REIQ) figures for the local area, with Gaythorne, McDowall and Everton Park listed as, “movers and shakers.”

 

To unpack “movers and shakers” just a bit, here are some interesting facts and figures:

  • Since 2012, Gaythorne’s median sale price has jumped from $506,000 to $543,000 (or 7.3% for those who like it in percentages)
  • McDowall saw a median price jump from $520,000 to $555,000 (or a 6.7% increase)
  • Everton Park followed closely with a median price jump from $445,000 to $483,000 (or a 5.8% increase)
  • These figures surpass the Brisbane-wide median price of $530,000 (with an annualised increase of 3.4%)

Thank you for pressing on. Enough of the figures. But really, they’re not so boring for anyone who owns property in the vicinity or is thinking of doing so. These make for very attractive figures, indeed.

These areas have many of the investor fundamentals when it comes to property, including: Being less than 10km to Brisbane city; proximity to other, up-and-coming suburbs; great local amenities; and good access to public transport.

Yet, when it comes to finding a good investment property, seeking out opportunities based on the ‘fundamentals’ may not always uncover these types of areas.

But that’s where statistics like the ones above come in, especially in the initial stages of creating a short-list of areas for further research.

Statistics don’t always illuminate the underlying fundamentals of an area, but instead, statistics usually correlate to the changes to demand and supply.

Remember, there are only two factors affecting price change: demand and supply. Prices will rise if demand is high relative to supply.

Is it time for you to get moving or shaking? Give us a call, or check out our latest testimonials here.

Rates are rising, some effects of the GFC still linger, and every day the newspapers have a different take on what Brisbane’s property market is doing. But let’s look at some of the hard facts.

  • Building Approval levels have dropped to low levels not seen since the 1980’s
  • Release rate of new stock and lack of competition is affecting prices
  • Still not enough homes being built in Queensland
  • South East Queensland saw a population increase of 75,000 in 2008-09 with a need for 30,000 homes, yet only 17,000 were built
  • Interstate migration has dropped only slightly in Queensland (Victoria now leading the way), but there is still a high number of people coming from overseas

Given these fact, I still believe the market is strong for sellers. The average days on market for houses in this area is 21 days, which also speaks volumes.

DEMAND STILL OUTWEIGHS SUPPLY

The other day I had a lady yelling at me because I still had not found her perfect home. I told her to sell her a home I had to literally wait until the owner was ready to move. I could just got to the wholesaler and buy her one off the shelf. Sellers are holding on – nothing I do can force people to sell – no use yelling at the agent because we have no stock on our shelf.

The latest figures out show that the property prices have remained stoicaly steady and that confidence within the market place is improving.  After a turbulent year this is good news for many sellers, buyers and agents.

Only today I received a call from an investor, looking to purchase property in McDowall, he is withdrawing monies from the banks as the returns are negligable.  To quote him directly  “putting it in bricks and morter something I can touch and feel and won’t disappear into the big balck hole”.

Bank Valuations are going down down down

Having said this the bank valuers are being still very very cautious when carrying out valuations.  Only yesterday a contract crashed due to valuation i.e. the valuation was less than the contract price.  Within two hours we had a second contract on the same property for the same price.

Don’t the buyers set the value?  Interesting times!

When the Federal Government extended the first home grant in May till September 30th the pressure was taken off first home buyers.  This has resulted in a wait and see philosophy for many.

This approach was adopted late last year when many buyers just didn’t commit to buying because they had “lots of time to find the perfect home”.  As a result March and April saw a flurry of activity in the market place the grant was running out on June 30th.  Many homes were having multiple offers and again we were seeing inflated prices due to demand.  Time lines cause pressure, pressure causes demand.  Demand out strips supply prices inflate.  Its SIMPLE.

Last week-end I was at the cold face of real estate as normal open homes and private inspections and this wait and see mentality was expressed to me once again by several first home buyers.  “We have three months to find the perfect home, we are not in a rush.”

If history is anything to go by once again we can expect to see a last minute rush and inflated market.

My advise to buyers is don’t be one of the herd, make business decisions and you may be able to buy exceptionally well prior to the last minute rush.

Sellers, herd mentality by buyers will work in your favour.  If you are thinking of selling take the opportunity to meet the last minute first home owners rush.

For more information on buying and seller comment on this blog or phone Madeleine direct 0413733617.

SELLING TIPS: What you can do to help

Remove any objects such as children’s toys on the front steps, which might cause accidents.  Keep the front entrance and stairway clear.  Try for uncluttered appearance.

 Neat orderly rooms look bigger, especially bedrooms.  Tidy up all rooms for a spacious appearance.

Check and double-check your bathroom.  Bright and clean bathrooms sell many homes.

When you are showing your home three is a crowd.  Avoid having  too many people present for inspections.  The prospect will feel like an intruder and will hurry through the house.  If possible go out for a short walk.

If you can’t go out, stay out of the way.  Do not accompany the prospect and the sales person around the house.  The Agent knows the Buyer’s requirements and can better emphasise the features of your house when alone.  They will call you if they need you.

Love me, love my dog does not apply when selling a house.  Pets are best kept out of the way, even taken on a walk when there is an inspection.

Never apologize for the appearance of your home.  After all, it has been lived in.  Let the real estate agent answer any objections that are raised, that is their job.

Switch off the TV during inspections it is very distracting.  Put on some mellow music that will get prospective purchasers relaxed and in the mood for buying.

It is best not to discuss price, terms, possessions or other factors with the buyer.  Refer them to the agent.  Real Estate Agents are better equipped to bring the negotiation to a quick and favourable conclusion.

You and your Real Estate Agent need to work as a team.  If you feel they have overlooked some important selling points, feel free to discuss them once you are alone together.

Sweep all the walkways to create an impression of constant maintenance to your house.

Remove excess mail from your letterbox.

Park extra cars, which do not fit in car parks, away from the property.

Clean windows and window coverings.

Make sure gutter and down pipes are clean and in working order.

Team Work - What can I do

Fresh flowers inside the home can add extra colour and vibrance.  They also appeal to a Buyers sense of smell with their exotic   fragrances.

Having a pot of fresh coffee brewing or a loaf of bread baking will also add a pleasant aroma to your house.

Open curtains and turn on lights so the house feels warm and bright.

If people unaccompanied by your Real Estate Agent ask to see the property, for security reasons, refer them to your real estate   professional for an appointment.

Have an air freshener in the toilet and bathroom to have a fresh, clean smell.

Place a bowl of fruit with a variety of colours in a prominent position in the kitchen.

It is important that a home gets a buyer in the right mood to buy, all the above tips and hints will help to do this.  You can also use the season to your advantage. 

 If it is wintertime make sure that the house is warm. It is very welcoming on a cold day and adds extra character if you have the fire burning.

 If it is summer time ensure that the house is cool by using, fans, air-conditioners or opening all the windows to make the most of any breeze.

For more information just comment on this post and I will get back to you or email me on [email protected]

 

EMOTION VS.REASON

When conversing with Real Estate agents, you will often find that when they talk to you about buying real estate, they will refer to your purchase as a “home”.  Yet if you are selling property, they will often refer to it as a “house”.  There is a reason for this.  Buying real estate is often an emotional decision, but when you are selling real estate you need to remove emotion from the equation.

You need to think of your house as a marketable commodity.  Property!  Real estate!  Your goal is to get others to see it as their potential home, not yours.  If you do not consciously make this decision, you can inadvertently create a situation where it takes longer to sell your property.

GETTING YOUR HOUSE READY TO SELL

The first step in getting your home ready to sell is to “de-personalize” it.  This is so that potential buyers view it as their home.  For example when a potential homebuyer sees your family photos hanging on the wall it puts your own brand on the home and momentarily shatters their illusions about owning the house.  Therefore, put away family photos, trophies, collectible items, knick-knacks, and souveniers.  Put them in a box.  Rent a storage area for a few months and put the box in the storage unit.

Do not just move the box into the garage or a closet.  Part of preparing a house for sale is to remove “clutter”, and that is the next step in preparing your house for sale.

…ask Madeleine by making comment or emailing me directly.

Part of any normal contract of sale, in Queensland, is the Building and Pest Inspection.  This often is a time of great stress for many home buyers and sellers, in particular the first home buyers who are new to the market place.  These buyers  are purchasing homes in the McDowall, Everton Park areas that are usually 30 plus years old,  these homes often have maintenance issues, yes no homes is ever perfect. Not even a new home, with established homes if there are major structural issues these would already be evident where with a new home they are still to surface.

4

Buyers when reading these report panic, quiet often missing out on good quality homes that only need to be well maintained.  The job of the inspectors is to draw your attention to all the little jobs that require attention if he does not do this they are not doing there job.  These are then backed up by huge disclaimers which the building inspector’s insurance insists they put into the reports.  The inexperienced buyer is completely baffled and confused. Quite often they crash the contract over minor issues. The seller is left frustrated and annoyed that they lost the contract.

Sellers can minimize this stressful time, prior to going to the market place having a pre-sale building & pest inspection and attending to any issues that maybe of concern.  Thus being for warned.

Buyers need to understand that every home has some issue.

…ask Madeleine by commenting on this and I will help you through your next building and pest report.