Ian's Blog | Property Updates in Applecross, Mt. Pleasant & surrounds
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Ian's Real Estate Rant (Blog)

“From the desk of Ian Barnes. Relevant, topical real estate related opinions, thoughts and perspectives”

The 5 Reasons Why a Home Does Not Sell

November 4, 2019

Reason 1) -The marketing is incomplete or ineffective (Agent) Not all real estate agents are alike and unfortunately, some do a minimal or ineffective job in marketing the property once they’ve obtained the listing. I often research properties as part of my commitment to my craft. I’m frequently surprised by the number of incomplete property descriptions, lack of multiple attractive photos, and many times, just...

The 9 Predictors of a Probable Sale

October 27, 2019

The 9 Predictors of a Probable Sale I originally wrote this article many years ago (about 2010), but have filtered and updated it with a fresh 2019 lens and perspective making it relevant today in 2019. I have long believed that every property has a RIGHT buyer, and in EVERY market there should be able to find a buyer in a reasonable time-frame. That is still the...

Absorbtion Rate

July 21, 2019

ABSORPTION RATE- Important concept for Sellers. Years ago, I heard a well-respected trainer (David Knox from the USA) use this term and have adopted it since. It isn’t mumbo jumbo either or jardon, it makes perfect sense. How many properties in a particular market segment can a market absorb over a given time? In layman terms, the terms oversupply or under supply are a more...

Market Segments- The Concept Explained…

May 23, 2019

MARKET SEGMENT Many years ago, I started using a term which I called “Market Segment” in response to the recognition that the spread of price range in prestigious suburbs like Applecross, Mount Pleasant and Attadale was huge. You could have properties for $400,000 right up to $10M plus++ So, when buyers ask me things like, “What is the average price per sqm of land in...

Median price myth- How much is my house worth?

April 8, 2019

I was recently talking to a valuer friend Keith Barry recently about the current market and the ways many sellers and buyers (and agents) view the market and perceive values. It was a fascinating conversation. After we had it, we came up with a brand new measure we have agreed is a better and more accurate way of establishing a value of a property over...

Why it pays to move in a down market?

February 25, 2019

Why it pays to move in a down market? We often hear of sellers or potential sellers wanting to wait for markets to recover, or for prices to hit some pre-determined number desired or required before they move. We have been hearing that on and off for over ten years since the GFC of 2008. Imaging putting your life on hold waiting for a market...

The Risks of Overpricing

April 3, 2017

We see it all the time… Properties come onto the market, at what an agent or an owner thinks it is worth. An asking price or strategy is set. SCENARIO ONE: The market thinks it is a little high; it sits there a long time. Either the price comes down, or worse, doesn’t and as time rolls on the perception is that the property is...

MARKET SNAPSHOT

March 3, 2017

MARKET SEGMENT: Many years ago I started using a term which I called “Market segment” in response to the recognition that the spread of price range in prestigious suburbs like Applecross, Mount Pleasant and Attadale was huge. You could have properties for $400,000 right up to $10M plus. So when buyers ask me things like, “What is the average price per sqm of land in...

MARKET UPDATE January 2017

January 1, 2017

The sales figures for 2016 are fascinating, even DRAMATIC. Despite what anyone says or thinks about the local real estate market, I expect to see big things in 2017. The basics are still quite good. (Affordability, interest rates, unemployement still relatively low, housing supply). There is a definite trend of reduced volumes of sales, quite dramatically however, so this is not a time for sellers...

New Year- New wave of buyers

January 1, 2017

Traditionally, New Year always means a fresh new impetus in the local property market. Buyers and sellers alike set goals to move on, interstate transfers happen and people want to get the kids settled for the new school year. Homes present well with the summer weather and generally people are more active. I am particularly interested in recent years with the New Year, as I...

MARKET UPDATE November 2016

November 1, 2016

The first quarter of 2016/2017 has seen sales start to move in various market segments, and an interesting picture unfolds. Applecross saw 36 sales (Up 15% from 31 on the year earlier same period) which averaged 193 days to sell (Median 89 days). That tells me a lot of the old or stale stock sold during the first quarter of the new financial year, is...

Ten Important Questions for Sellers

October 3, 2016

Please find below ten of the most important questions that should be considered when selling your home. Before you select an agent, it may be a good idea to have an agenda to help provide the meeting with structure and determine the most suitable agent for you. After all if you don’t have the best agent representing you, you can’t expect the best results. 1)...

MARKET UPDATE October 2016

October 3, 2016

Spring has come late in 2016, with early October still with a winter feel about it. As soon as the cooler, wetter months subside traditionally spring represents a more buoyant and positive lift in local real estate markets. More stocks to come on, more buyers are out and about, and a generally more upbeat disposition overall. We expect this year will be the same. Right...

MARKET UPDATE September 2016

September 20, 2016

We see stock numbers down a little at the moment with a flurry of sales, and some early signs of equilibrium returning in the market, albeit still being tight and price sensitive. Buyers want value. We are seeing interesting times in the local market right now, and we are selling plenty and adapting in these interesting market conditions. The tried and tested wisdom is that...

The Importance of Price in a Tight Buyers Market

September 1, 2016

The market is very price sensitive at the moment. Time and time again we see properties sit stagnant whilst the buyers grapple with getting the best value they can find. When a property is priced 10% or more above what buyers think is fair market value, usually the property will not only not attract offers, but probably the wrong buyers are viewing the property. As...