“From the desk of Ian Barnes. Relevant, topical real estate related opinions, thoughts and perspectives”
Just in this last week we have seen a burst of renewed confidence from buyers, with 6 sales in the office and another bunch of offers that are “cooking”. It appears that with the election out of the way, the AFL grand final behind us and reprieve for the time being with interest rates, some buyers have decided to jump in. We are seeing what...
What an amazing market! We have buyers for sure, many that need to sell. As Applecross blows out to 145 days on market, and Mount Pleasant 117.3, Ardross 84.3 and Booragoon a low 68.9, we see many of the aspirational trade up buyers in Applecross say, wow, subject to sale is not going to happen, I will have to do a bridging loan or a...
We are starting to see early signs of a much stronger buyer sentiment. Just recently we have seen many multimillion dollar sales, a Circa $3M plus in Mount Pleasant, a $4M plus sale in Applecross and $5M plus sale in Applecross. Two of these offers were cash, and all show a willingness of buyers to act on good properties despite what has been a soft...
Market Insights. As we enter Spring, where stock levels are expected to become even greater, buyers are encouraged to take advantage of good stock levels and therefore choice, and sellers are reminded of the need to be priced and presented in such a way to ensure that their property stands out from the crowd. It is true that traditionally there are more buyers around in...
Evolution Realty website is now mobile device compatable. With latest stats are showing 5-7% of total internet traffic to real estate sites in WA is already on a mobile device; this was close to 0% last year. It is predicted to be 10%+ by Christmas, and grow from there. By the Year 2013, internet access will be mainly done from mobile devices, more than from...
Up to a couple of months ago, confidence was high and growing from buyers, creating a upward trend with prices in some price categories, namely lower priced properties up to $1M in Applecross and Mount Pleasant and surrounds. This can cause up to 5% premium for sellers in this instance. Recent shivers with the stock markets, Government changes proposed for the mining industry and the...
As the financial year comes to an end, it is fair to say that the announcements from the Federal Government have had an impact on the sentiment of the market at the present. Certainly, confidence has been shaken with what appears to be an effort by the Government to hit one of the most productive sectors of our strong Western Australian economies. Most of us...
At present the market is tight, especially at $1Million and above. Many sellers perceive subject to sale as a “claytons” or a pretend offer. This is because there are so many variables. Subject to sale really means the buyer is asking the seller to take all of the risks, or for the seller to sit back and wait. Buyers should expect to pay more for...
Buyers and sellers must be aware that when they enter a contract to purchase or sell a property, there are obligations on all parties, which upon accepting and finalizing the contract becomes binding on all parties. It is accepted that all parties will act in good faith, and do what they have represented they will do as per the contract. If one party changes their...
Often times, owners in an area perceive lots of for sale signs as evidence of market share, or ability to sell properties. Recently, we at Evolution Realty compiled a list of all sales made in Applecross and Mount Pleasant combined since 1st January 2010, and the results are compelling. EVOLUTION REALTY SELLS THE MOST. We have made 17 sales (20.2% of the market) in that...
It is important to understand that all properties are different, especially in the prestige markets in Applecross, Mount Pleasant, Attadale and surrounds. When the official REIWA website says that the median price in Perth went up 12%, or Applecross went down 20% etc, really this has no bearing at all on every single house. It measures a particular segment, and helps get an overall trend,...
What an amazing end to 2009! It appears that for the time being buoyancy and in some cases bullish optimism exists with many buyers, creating a mini boom in some price categories. Properties in Mount Pleasant, below $1 million, have been snapped up and are selling quickly, often close to full price. We think that in many cases, within this category, we have seen an...
Welcome to our blog. Hi, my name is Ian Barnes from Evolution Realty. Many of you know that I have been successfully selling in the area for many years now, and know the market. But this blog will be all about you, not me, and this lovely part of the world called Applecross, which we are blessed to call home. I will be regularly providing...