28 September 2013
Initial Offer May Be the Best It’s true that when vendors receive their first offer for a private sale, it’s often the best one. Recent RP Data outlines the length of time a property spends on the market compared to the level of discounting it takes to sell the property. Not surprisingly to most real estate experts, the information has revealed that the longer a property takes to sell, the lower the price of the property will have to drop.
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
Homes that sell in less than 30 days record an average vendor discount of $21,308 or 3.9% on a $561,000 median priced house in Melbourne. Homes that sell between 30 and 60 days attract an average discount of 5.2%.Homes selling after more than 120 days on the market are generally discounted by a hefty 10.1% or just over $56,000. With these statistics in mind, vendors should ask themselves whether or not they will get a better price by keeping the property on the market, or give consideration that an initial offer may be the best one. A property is most likely to receive offers when newly listed for sale, making it important for vendors to set a realistic price in order to get a quick sale with a low level of discount. Buyers should also ensure that they place realistic offers if they are serious about securing the property. Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
As a service to our vendors, we will require names & phone numbers on entry of all inspections. Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you. Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000). We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
MEET THE team
Maree Cecchin
Anna Grech
Astrid Jane
Alan Stephens
Reece Gosstray
Sales Trust Administrator
Senior Sales Consultant
Sales Consultant
Chairman
Phone 9316 9025
Mobile 0438 446 051
Mobile 0402 211 660
Mobile 0411 242 638
Project Sales Manager Banbury Village
Email salessec@jasstephens.com.au
Email agrech@jasstephens.com.au
Email ajane@jasstephens.com.au
Email astephens@jasstephens.com.au
Mark Hutcheson
Nicole Grech
Lachlan McCraw
SUE STEVENS
max waller
Sales Consultant
Marketing Manager
Property & Finance Consultant
Mobile 0448 820 445
Mobile 0423 590 508
Business Development Manager (Property Management) - City of Maribyrnong
Director Provincial Home Loans
Email mhutcheson@jasstephens.com.au
Email ngrech@jasstephens.com.au
Mobile 0400 335 498
Email suestevens@provincialhomeloans.com.au
Email lmccraw@jasstephens.com.au
Mobile 0432 705 815
Mobile 0418 378 276 Email rgosstray@jasstephens.com.au
Mobile 0438 430 436 Email maxwaller@provincialhomeloans.com.au