25/10/2021
Here's a quick snapshot of only four of the Auctions we attended on the weekend.
You know there are going to be record prices when the streets are full of parked cars and you have to park one and a half blocks away for all of them.
Had a great chat to "ole mate" standing beside me who lives in the street (keep in mind, I didn't know him from a bar of soap, but us Aussie are like that; he's a stranger one moment, now he's me "ole mate").
In this particular street in CALAMVALE, there have been four sales in the last five months.
Five months ago, a 1200 m2 subdividable block sold at Auction for $960k.
This particular house on 900m2 block (subdividable) with an average condition house on it (nothing special) was knocked down at $1,090,000. Less land, poorer house.
The second pic is of a house in ALGESTER that is just an average 3/2/2 that knocked down for $709k. RP Data gave an indicative val of a similar property three weeks ago at $520k.
We lost a listing 4 weeks ago in the same suburb by suggesting Auction. That house was better than this auctioned property.
The Seller decided to go with a well advertised brand at a fixed price of $559k. Obviously sold within 2 days.
That decision just cost the seller $150k.
This particular agent won't care.
It's more profitable for them to sell it quickly and focus on finding another big commission cheque with a NEW listing, rather than invest a heap of time handling buyers and trying to get the highest possible price for this seller.
The agent would have to do a heap of extra work for what would only end up being a few hundred dollars extra (in his pocket) after franchise fees and splitting the comms with the office.
It's disappointing that this is how the industry works but that's how traditional agencies work unfortunately. Its about turning the stock over as quickly as possible.
Seller don't get that nonsense when dealing with Housing Heroes.
Anyway, back to the current Auction environment.
We personally completed a renovation earlier in the year (March 2021) in COOPERS PLAINS. Fully renovated 4 BR, 3 bathroom DLUG, self-contained granny flat, 10 x 3 metre pool on 607m2. Sold at Auction for $661k. Pretty much everything was new.
On the weekend a standard 4/2/2 with a very average reno on a 487m2 block, literally 250 meters away (from our fully renovated house) was knocked down for $870k
OUCH!!!! A $200k difference in six months.
SELLERS, PAY ATTENTION, if you are wanting to sell in this market, AUCTION, AUCTION, AUCTION to get the best possible outcome (suburb dependent obviously).
Right now the market is NOT HOT, it's in a FEVER. It won't last indefinitely.
Don't forget, you get a double Bonus if you sell through Housing Heroes (we call it The Housing Heroes Advantage™).
Housing Heroes GUARANTEES to beat any same service agent's fee by 10%, AND if we fail to achieve a minimum pre-agreed selling price, we'll discount our fee by a further 10%.
We call it our BEST VALUE AGENCY GUARANTEE™
Record high selling prices, BEST VALUE FEE STRUCTURE in the industry.
Call or Text 0407 007 009 if you'd like to discuss selling.
As a special offer, you can receive a $1,000 discount on the selling fees by giving yourself a $1,000 Mates Rates™ voucher from our website.
OR you can give your family and friends a $1,000 Mates Rates™ discount voucher if they are thinking of selling (or buying).
https://www.housingheroes.com.au/page/mates-rates
