Category: Selling

A “Spring Clean” can put more dollars in your pocket!

So, you are thinking that it is time for a change, and you are ready to sell your home or buy a new one and keep your existing home as an investment property? Here are a few handy hints that won’t necessarily cost a fortune, but will certainly have an impact on your sale price or rental return!

Hint 1: Street appeal – If you stood on your front footpath and looked at your property, would you feel inspired to go inside? First impressions count, and once you have the property advertised on the internet, a lot of buyers or tenants will do a drive by first to check the location and fine tune their list of properties they actually want to book appointments to inspect. Sometimes it is as simple as mowing, watering and fertilising the grass, lightly trimming the trees or plants, mulching the gardens and replacing a few plants or planting some flowers to freshen and brighten the place up.

Hint 2: De-clutter – Remove any excess furniture, toys or decorative items that may make the rooms feel small. It is amazing what clean surfaces and minimal furniture and items can do to the feel of the room! Personal photos where possible should also be removed – the people inspecting need to be able to start picturing themselves in the home, not feel like they are intruding in your life. If you have teenagers, this will be the hard one… clothes need to be put away in the wardrobe, not left strewn all over the floor and furniture! Perfect time to clean out the wardrobe and give your clothes away to a charity.

Hint 3: Painting – It may only be a room or two, or it could be the whole house, but if the paint is scratched and dingy, or multi coloured, a fresh coat of a neutral colour will do wonders.

Hint 4: Flooring – Sometimes a steam clean of the carpets is all that is needed if they are still in good enough condition. But if the carpet or vinyl is really old, worn and torn, tiles are cracked or floorboards are scratched and dull, replacement or re-polishing may be the only option. If you have to go the whole hog, stick once again to neutral tones; but not too light (marks easily) or too dark (rooms will shrink!) for flooring choices.

Hint 5: Keep it clean – Once you have gone to all this effort, maintenance is now the key to keep it looking fresh and clean. Keep kitchen benches clear and clean, and wash up before you leave the house each day. Make the beds, straighten the lounge and dining room, tidy up the bathroom, and dirty clothes belong in the laundry! You will be surprised at how much a difference it makes. Before Open Homes or booked inspections, open the blinds and curtains, turn on the lights, and make sure the property smells fresh, clean and inviting.

If you think this all sounds good, but are still a bit stuck on where to start and what needs to be done, just give me a call and I can come out and walk you through what you can do to optimise your sale price or rental return!

Call Rebecca Herbst on 0417 644 840 or email rebecca.herbst@century21.com.au

Renovate or Detonate? Or Leave it as it is??

When you are considering putting your home on the market for sale, renovating can be a good way to increase the value of the home – but it is not a golden ticket – and it can come with pitfalls along the way!

The first step, is to have an appraisal of the property done to see what price range it currently sits in, as it is, and also check your land value. If you use a good, local, knowledgeable real estate agent, they should also be able to give you suggestions of what improvements will increase the end sales price, or whether there is a stronger sales market for properties that need renovation rather than already renovated homes in the area. There is no point spending money on making improvements, if the changes do not add tangible value or increase the likelihood of a faster sale. It is also beneficial to ask the agent to have provide examples of recent sales of similar properties that have already been renovated to get good researched comparisons. You may be surprised to know that we have a stronger demand in most cases for un-renovated property!

The second step after this research, is to consider what is necessary, and work out an estimate for the cost of the improvements. Of course the more work you can do yourself, the less it will cost, and jobs like cleaning, basic gardening, minor maintenance and painting touch ups done to a good standard are simple and easy. Just remember to leave any electrical or plumbing jobs etc to the experts!

In dealing with all types of properties every day, we have found that the type of renovations that are the most cost effective and have the greatest impact, are repainting internally and new floor coverings. These items instantly affect the appeal of the property and give the feeling that the new purchaser can move straight on in or rent it straight out. Remember to keep the colours neutral though. While bathrooms and kitchens are the next most renovated features, they are also the more big ticket items that will cost you more money and time, plus being very personal changes. What you think is beautiful, appealing and a suitable layout may not be consider so by the potential buyer. So think long and hard as to whether the renovation is worth doing and generically appealing, or whether you are better pricing the property a little lower taking into account that you know these bigger renovations will need to be done by the new owner.

So now you know what your home is worth as it is, what work you can do, and what it will cost to improve it. Once you add these figures together, is the total amount less than what similar renovated homes sell for in the area? Would you be on track to make a profit when you sold, or would the improvements end up with you over capitalising on your investment?

Don’t forget to take into account the time the renovations will also take to be completed, and the occasional headache of poor quality work or unreliable tradespeople. Time can also cost you money, with additional mortgage repayments or time off work.

So the best advice is always to do your research first and talk to the experts!

Let me know if I can help! Call Rebecca Herbst on 0417 644 840 or email rebecca.herbst@century21.com.au

When is the best time to buy or sell real estate?

There is no hard and fast answer to this question, but if you want to generalise, the answers are “when you are ready” and “always buy and sell in the same market”.

It really doesn’t matter what time of year it is, there are always people looking to move, it is just that at certain times of the year there are more transitions and transactions happening, that it is busier and there is more competition – for both buyers and sellers. The month lead up to School holidays factor as quite busy times of the year, as buyers looking to be able to settle into their new homes during the break especially if moving interstate or to different suburbs that require a change of schools. Easter and Christmas can be a little bit quieter in activity as people’s focus can move to other things such as family gatherings and work parties. However Boxing Day is the highest viewing day on realestate.com.au every year! The thing is though, the serious buyers that have a need to buy are still out in force all year round!

To be ready, if you are looking to buy, make sure you have already spoken to a broker or bank, know your budget, and have a pre-approval in place so that the time needed on your offer for finance approval can be shortened. Research the areas and style of home you are looking for, and have a clear idea of what price the type of property you are looking for generally sells, so you can make fast, informed decisions. Nothing worse than hesitating to do additional research and missing out on a suitable property time and time again.

If you are thinking of selling, have your local agent come around and give you a written appraisal, and make sure they give you evidence of similar properties that have recently sold or are currently on the market to demonstrate how they came up with the appraisal price. Other questions you should ask, are around the strategy they suggest, as well as a marketing package to suit your property, strategy and circumstances. All agents now charge different commission rates in Queensland since the deregulation, and there can be a wide variation in fees. Don’t be scared to ask the agent why they charge the rate they do. Sometimes the cheaper agents are not as highly trained or experienced as the agents that charge a slightly higher percentage, and service levels and extras that the agencies provide also vary widely, so find out what they will do for you. It is important to remember that the most affordable agent, is the one that leaves the most money in your pocket at the end of the transaction. So ask for testimonials or proof that the agent has a track record of achieving better results if they are charging a higher rate.

Why buy and sell in the same market? Well, whether you are in a boom or a downturn market, if you buy and sell at the same time it all balances out, and there is definitely less risk involved!

Call or email Rebecca Herbst for a no obligation sales appraisal and strategy for you home – 0417 644 840 or email rebecca.herbst@century21.com.au

Advertising for your property or your agents profile?!

During the course of every day we speak to owners considering selling their properties. I am always surprised to hear some of the information I am told by potential sellers with relation to what other sales agents have told them they “must do” with regards to Vendor Paid advertising to list with that agency.

Now I know that in some cases agencies or brands have requirements put upon them to meet certain levels of advertising for agency branded magazines, newspapers etc, but do agents actual consider what is in the seller – and their potential client’s – best interests, or are they filling a “spot” to help build their brand profile…

I’m not trying to start a war, but it is no surprise that printed media is being used less and less as the age of technology is taking over in leaps and bounds! No longer do all potential buyers wait for the local paper or the Saturday morning real estate section to be delivered or picked up from the newsagency. Most open homes or inspections are slotted into a buyer’s calendar from the internet sites well before the weekend.

In our Ipswich market at least, newspaper advertising is largely unnecessary for most residential property.

So what does that mean for you potential sellers out there? Yes, in some areas printed media still has their place, but it is driving less and less enquiry to your door. Purely and simply the internet is a must and there are a few different options out there with the main sites like  www.domain.com.au and www.realestate.com.au, but sellers need to do their research too!

Sellers, don’t be afraid to question the agents that you have come to appraise your property and discuss costs and fees. If they can explain and show you why they are recommending various marketing options, and what they are suggesting is proven to bring results, fantastic. If they can’t… are they the right agent for you?

And of course I’d love to help you, with a well-planned and relevant promotional campaign, if you are considering selling.

Please call me, Rebecca Herbst on 0417 644 840 or email rebecca.herbst@century21.com.au

What is a Hotspot??

A common “buzzword” in real estate, hotspots are areas where property values are predicted to next experience significant capital growth. While it is impossible to pinpoint exactly where and by how much the increase will be, there are some key indicators that investors or real estate savvy home buyers should look out for. Keep in mind that if it is already being called a “Hotspot” in the media you might be a little late for the best capital growth as prices would have already started increasing!

So what are some key indicators? Are neighbouring areas currently experiencing good capital growth? What is known as the “ripple effect”, buyers tend to move a suburb further out than where they would like to live when they are struggling to find or afford a property in their chosen suburb. This causes a ripple like effect to pricing in a circumference out from that neighbourhood. Are prices lower in the suburb compared to other surrounding suburbs? Make sure you check that there is no obvious reason for the more affordable prices eg. New industrial development under construction. Is demand starting to exceed the supply and are “days on market” becoming shorter? Are you starting to see properties just listed for sale selling straight away or find out all offers on the properties for sale are becoming multiple offer situations. Are there positive developments happening in the area? Proposed transport developments often increase prices. Will it be quicker to get to the CBD? Are there road transport links under construction? Other positive developments can be new shopping precincts or schools undergoing improvements to their facilities. Are there a lot of older run down properties undergoing renovations, increasing the caliber of the housing in the area? We are not talking just one or two homes in a whole suburb.

I’m sure everyone has heard the adage “buy the worst home in the best street” When you can start to see a trend of general improvement in the area and you are not scared to do some basic renovations, this can be the best way to achieve fantastic capital growth from your initial outlay. Finding the next “Hotspot” location is only one thing to keep in mind if you are looking to use real estate investment for good capital growth or some quick cash “flipping” property. Don’t forget to do research around what style of home or configuration is in demand in the general location, and don’t get carried away on your speculating and pay too much. If you can see there will be significant renovations required, make sure you have a Building & Pest inspection, and it may be a good idea to get a quote of the work required to make sure you will not be overcapitalising once the work is complete.

Want to chat about the Ipswich real estate market? Please call me, Rebecca Herbst on 0417 644 840 or email rebecca.herbst@century21.com.au

How to choose the right agent to represent you!

When you are looking at what is usually the largest asset you will ever own, don’t be tempted to try to sell it yourself. Why you ask? It’s not just because selling property is our business, it’s because it just makes good common sense! Savvy real estate agents also will use another real estate agent to sell their own property – because even if they are themselves a super salesperson, they know that it is important to have a third party handle the negotiations of a sale. When emotions get involved, achieving the highest price possible for your asset can be hindered.

But there are other reasons as well! A potential buyer will know that you are trying to sell privately and save money by not paying thousands in commission. So more often than not, they will just offer you less and negotiate harder with you to get a better deal. In the end, trying to sell your home yourself could means that you have to deal with the stress and hard work yourself, and then potentially end up with less money than what a skilled agent would have achieved for you! And higher solicitor fees for drafting and completing contracts…

So how do you find the right agent? It’s simple. Have at least three agents come and appraise your property. Interview them! Make a decision based on whether you feel they will represent your property in the market to its full potential, and you feel you can work well together. Employ an agent that understands your home, can acknowledges the positives and competently can manage the negatives. Do they know and focus on your area, and have a good track record of sales? Are they well presented, professional, yet friendly and enthusiastic? It is possible that agents of this calibre – because they are very good – are not the cheapest. There is a difference between what is cheap and getting value for money. An agent that is prepared to negotiate their commission down just to secure the listing from you, has just shown you that they are not a skilled negotiator! Do you want an agent that will build value into your property and negotiate for you the best possible sales price, or one that will do anything just to get the sale at any price?

Not sure who to choose? Please call Rebecca Herbst for a no obligation sales appraisal and selling strategy on 0417 644 840 or email rebecca.herbst@century21.com.au