August Market Report 2019 - Agents telling you High Prices

My Market BELROSE | DAVIDSON | FRENCHS FOREST August 2019

Hello &

Welcome Shane Broekman is the Sales Manager for LJ Hooker Forest and has been selling residential property in the local area for over 12 years.

If you have a questions for Shane, you can contact him via; ph: 0404 044 280 e: shaneb@ljhff.com.au

Talking Real Estate with Shane Broekman

Couldn't Sell Before?

There is nothing worse than going to market with

an agent at a certain price and all you hear for the next 6 weeks is why you should reduce your asking, when it was that agent who told you the original price guide. I'll agree the market was down until March this year, but as a real estate professional it is our job to advise owners on the likely sale range before you go to market, not once you have the listing.

I'm happy to report I have sold every property that I have taken to market during the downturn which started in October 2017 and I don't intend on changing that. As a local resident myself I don't see each listing as the next pay cheque, I see it as an opportunity to help other locals sell for more and the real win for me is when I am then recommended to that clients' friends and family, yet I still see agents overpricing to entice owners to sell.

If you have been on the market in the last 12 to 18 months and didn't sell, now might be the perfect time to try again. We are only 6-8 weeks away from the busy Spring market and the media is certainly more positive since the election and relaxed assessment rates imposed on the lenders. Stock levels are low and buyer demand is high, so it might be worth trying another agent, another strategy and a fresh approach.

Just because one agent couldn't achieve your desired goals, doesn't mean another can't, but I do believe you must do your research first by asking friends, neighbours, community groups and also compare agents on the many real estate websites available at hand.

Finding An Agent

is not as easy as you would think. It can be extremely

difficult trying to establish which agent has your best interest at heart and who can negotiate the optimal final outcome. However there are a few questions you should ask the learn about each agent.

1.

How do you negotiate? A question most agents wont be able to answer with

confidence. Most agents can't tell you how they handle multiple buyers and almost every agent will struggle to demonstrate how they encourage buyers to increase their offer.

Think how you would feel if you were the buyer, would you trust that agent?

2. What is the lowest fee you can offer me? There is only one agent that can

be the cheapest agent in the area and you have to wonder why. An agent that is willing to drop their fee to encourage you to sign up is a 'discount specialist' and will likely follow this trait through when it comes time to discuss the price of your home with buyers.

3. Do you have a sale process? Forget about the price the agent will tell you and focus

on how they are going to get you the best price. Without a process the price is just a hook to get you in. Is their process clear, concise and proven? don't settle for wafflers.

Stats & Figures

Specific to Belrose, Davidson & Frenchs Forest

135 78% .47

have sold between 1st January and 31st July 2019 compared to 163 in 2018.

Although it is important to listen to what the media has to say about the Sydney market, it's more important to know what our local area is doing when you're thinking of selling.

Is the average clearance rate at the moment. Buyer confidence is up.

As an area expert, I track the local market to ensure I can give my owners honest and realistic information that will ensure they sell for the right price, at the right time and without spending a long time on the market.

Is the rate cut most banks passed on since the RBA reduced the cash rate in June.

It's so easy for an agent to tell you a price you want to hear (better known as buying your listing) but have they explained to you the best method of sale and what process they will engage to ensure a sale outcome you deserve?

SALES MADE 2019: FRENCHS FOREST - BELROSE - DAVIDSON

Another locallagent Another local agent Another local agent Another local agent

Forest

Another local agent Another local agent Another local agent Another local agent Another local agent Another local agent Another local agent

LJ Hooker Forest is currently the leading agency across all three suburbs, which means we meet more buyers, have a better understanding of buyer demand and can also introduce more buyers to your property.

For you, as a local home owner, you can feel confident that more home owners trust us to assist them with the sale of their home. Don't confuse desperation for hunger. If an agent is willing to do anything to get your business, it might just mean they want the listing for a quick commission grab, and not the best sale outcome for you.

The above information has been sourced from www.realestate.com.au and is public knowledge. Although LJ Hooker Forest believes this information to be accurate, we cannot guarantee or give any warranty about the information provided. Interested parties must solely rely on their own enquiries.

AUGUST 2019

What to expect in the new financial year The 2019 financial year (FY19) was an eventful 12-month period for property markets around the country. Royal commissions, elections, interest rates and global economic events all had an influence on real estate owners and buyers over the course of the year. Positively, now these events have concluded, looking forward to FY20 there are signs of a rebound in confidence for property buyers, and markets are expected to benefit from this.

What to expect in FY20

Investors

Recent indicators point to a more optimistic outlook for real estate markets over the coming 12-months. It appears that the cessation of property tax policy uncertainty has led to an uptick in certainty and confidence from property buyers, particularly investors. This has been evident in a higher number of enquiries and open home attendances which has also resulted in stronger auction clearance rates.

The re-election of a Coalition federal government ensures that there will be no future changes to negative gearing and capital gain tax concessions applied to property. This now provides certainty and confidence for investors about how they structure their purchases. This increased confidence has already led to higher levels of investor interest and is set to push higher as banks get more comfortable with the new normal in terms of regulation and lending practices.

We expect upgraders, first home buyers and investors to continue to pick up momentum over the year as mortgage rates become cheaper and listings rise in line with the traditional spring selling period.

Interest rates One of the key drivers of higher market activity over FY20 will be interest rates. The RBA cut the official cash rate by 25 basis points in June and July to a record low of 1.00%.

The positive thing for mortgage holders is that the majority of banks and lenders have followed the RBA’s lead and reduced their rates. This will in turn increase mortgage affordability and will assist households looking to borrow more to upsize or renovate, or for first home buyers getting into the market.

Get the value of our experience today by booking a free property appraisal with your local real estate expert. ljhooker.com.au/property-appraisal

First home buyers Many first home buyers have been sitting on the side lines, saving for a deposit, over recent years waiting for the right time to jump into the market. Interest rates at record lows, recent property price declines and a new federal government deposit scheme will ensure that first home buyers ramp up activity over FY20 to take advantage of the current market environment.

The current environment for those considering selling to upsize or downsize, is now highly positive. A number of banks are offering mortgage rates below 3.00% and post-election confidence from buyers has risen; however, listing numbers are yet to rise in line with the recent pickup in enquiry. This creates a captive market for savvy home owners looking to achieve a solid price for their home before the traditional spring selling period.

Questions to ask at an open home inspection Buying a home can seem like a difficult task, especially if you’re a first-time buyer. This is when a real estate agent can be of invaluable help to provide you with intricate details about the home itself and the current property market. If you’re on the search for a new home, here are four essential questions to ask a real estate agent at an open home inspection.

What is the value of the home?

You might know the price of the property but finding out the value can help you to determine if it’s priced fairly. Ask the agent about the value and whether that figure is based on an agent’s appraisal or an independent property valuation.

If a formal valuation hasn’t been conducted, consider getting one from a professional.

Why are the owners selling?

Asking why the owners are selling is helpful. For example, if they’ve already purchased another house, chances are they want to sell their former one quickly. You could also ask how long the property has been on the market and if there have been any price reductions. If the home has been listed for a while, you might have the opportunity to submit a lower offer.

Do you know of any future developments in the area?

Developments might affect your decision to buy a residential property. If you’re an investor, new developments could be a bonus to your rental property. More great amenities, such as shopping centres, can lead to more interest in your home from renters.

The best low -maintenance indoor plants If you’re keen to incorporate more greenery into your space, whether it’s something large to fill an empty corner or small for a desk, these indoor plants could be just the ticket.

Spathiphyllums like Peace Lily are hardy and very tolerant to low-light situations making them ideal interior plants for the foliage effect.

Philodendron xanadu is an outstanding hybrid that bears lush green foliage with a dusty pink midrib beneath. It’s tolerance to lower light makes it perfect for indoors, patios and under shady trees.

The Phalaenopsis Orchid is the most popular indoor plant in the world and will reward you with its long-lasting blooms, which come in a range of colours from the ever popular white to shades of pink.

Disclaimer. This newsletter does not necessarily reflect the opinion of the publisher. It is intended to provide general news and information only. While every care has been taken to ensure the accuracy of the information it contains, neither the publishers, authors nor their employees, can be held liable for inaccuracies, errors or omission. Copyright is reserved throughout. No part of this publication can be reproduced or reprinted without the express permission of the publisher. All information is current as at publication release and the publishers take no responsibility for any factors that may change thereafter. Readers are advised to contact their financial adviser, broker or accountant before making any investment decisions and should not rely on this newsletter as a substitute for professional advice. © LJ Hooker Corporation Limited.

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If you think hiring a real estate professional is expensive, wait until you hire an amateur.

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Davidson, 4 Benowra Place Picturesque Views and Modern Lifestyle Elevated upon 898m2 of land and commanding attention as you drive in to this quiet cul-de-sac, this recently renovated family home offers unspoilt views over Davidson and the flexibility for dual family living.

Designed with a focus on open plan living and endless entertaining, you will enjoy the privacy on hand as you lounge around the pool, or sip cocktails on the oversized deck complete outdoor bar setting and BBQ area.

Offering multiple living areas split over two levels, the home will be ideal for young and growing families. All bedrooms offer ample storage and the 4th bedroom on the lower level has enough space for a sitting area plus there is an area ready to be fitted out with a kitchenette inclusive of water and electrical fittings. This area could be an ideal rental income (STCA).

LOCATION Situated in Davidson, you have the ease of access to local walking/bike trails plus a level walk to Kambora Public School, St Martins Catholic School, playgrounds and public transport to Chatwood and the city.

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For Sale Contact Agent View As Advertised 11:30 am to 12:00 pm ljhooker.com.au/HW2H1B Contact Shane Broekman 0404 044 280 LJ Hooker Forest (02) 9451 0044

Frenchs Forest, 5 Yass Close Family Entertainer In Peaceful Cul-De-Sac Position Held in the same family for 46 years, this single level home is immaculately presented and has been lovingly maintained for a new family to move in and call this home. Sitting on an 836sqm block, the property is light and welcoming throughout, featuring four bedrooms and multiple living areas including a separate rumpus/teenage retreat. A solar heated pool, private spa and a fantastic indoor-outdoor flow complete this home.

Positioned at the end of a small, quiet cul-de-sac, homes in this street are rare to the market. * Master bedroom with walk-in wardrobe and ensuite bathroom, opening to covered courtyard with spa; three additional bedrooms, two with built-in wardrobes * Central kitchen with gas cooking, Fisher & Paykel dish-drawers, island bench/breakfast bar, skylight and plenty of storage; opens out onto back patio making an ideal indoor-outdoor entertaining space * Formal lounge and dining plus family room/informal dining area with room for a study nook * Separate teenage retreat/rumpus with storage, ceiling fan and gas heating point, potential to convert into a granny flat (STCA) * Bright main bathroom with separate bath and corner shower; ensuite off master bedroom with underfloor heating

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Auction Sat 24th Aug 2019 at 10:30 am View As Advertised 10:30 am to 11:00 am Contact Troy McKinstry 0424 333 713 LJ Hooker Forest (02) 9451 0044

Stamp Duty Guide New South Wales

PRICE

DUTY

PRICE

DUTY

PRICE

DUTY

$250,000

$7,240

$950,000

$38,240

$2,300,000

$111,990

$300,000

$8,990

$1,000,000

$40,490

$2,400,000

$117,490

$350,000

$11,240

$1,100,000

$45,990

$2,500,000

$122,990

$400,000

$13,490

$1,200,000

$51,490

$2,600,000

$128,490

$450,000

$15,740

$1,300,000

$56,990

$2,700,000

$133,990

$500,000

$17,990

$1,400,000

$62,490

$2,800,000

$139,490

$550,000

$20,240

$1,500,000

$67,990

$2,900,000

$144,990

$600,000

$22,490

$1,600,000

$73,490

$3,000,000

$150,490

$650,000

$24,740

$1,700,000

$78,990

$3,500,000

$185,490

$700,000

$26,990

$1,800,000

$84,490

$4,000,000

$220,490

$750,000

$29,240

$1,900,000

$89,990

$4,500,000

$255,490

$800,000

$31,490

$2,000,000

$95,490

$5,000,000

$290,490

$850,000

$33,740

$2,100,000

$100,990

$5,500,000

$325,490

$900,000

$35,990

$2,200,000

$106,490

$6,000,000

$360,490

Disclaimer: All stamp duty rates are based on an established owner occupied property. Different rates apply for investors or first home buyers. The above information has been obtained from sources we believe to be reliable. Buyers should make their own enquiries with their solicitor or office of state revenue in your state, or call your LJ Hooker agent.

If you're thinking of selling, contact:

Shane Broekman -+ )00,&3 '03&45 BEESFTT 4PSMJF 3PBE 'SFODIT 'PSFTU Phone: 0404 044 280 | Email: Shaneb@ljhff.com.au

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