market news
at the time of publishing there were 187 properties collectively on the market throughout the suburbs of ivanhoe, ivanhoe east, heidelberg, heidelberg heights, heidelberg west, rosanna, eaglemont, macleod and viewbank. this represents an increase of 30% in availability of properties for sale on the corresponding period for 2007. the increase is made up of properties that have been passed in at auction and remain unsold and others which are for sale. auction success rates still remain at 70% throughout the above suburbs despite the overall melbourne average of 65%. strong results were recorded in our areas over the weekend which confirms that good quality, correctly priced real estate is being sought out by purchasers willing to compete when they perceive the value is right.
our agency sales this season:
23 skeffington street, bellfield sold $545,000
2/27 brassey avenue, rosanna sold $431,500
9 marie avenue, heidelberg heights sold $370,000
4/12 darebin street, heidelberg sold $417,500
2/71 beatty street, ivanhoe sold $425,000
16 edwin street, heidelberg heights sold $500,000
18 edwin street, heidelberg heights sold $475,000
14 brittingham court, macleod sold $740,000
8a albert jones court, eaglemont sold $2,065,000
our company record continues to remain steady at 90% selling at or just after auction. we are working effectively to ensure that our clients are receiving accurate, current market advice.
source: realestate.com.au
when do I sell?
so much has been discussed in every piece of literature that we read lately that one could be forgiven for believing that the market has disintegrated. this is absolutely inaccurate in fact, there are a lot of advantages for making a well planned real estate decision now. the golden rule of selling and buying real estate is to ensure both transactions are conducted in identical market conditions. the other golden rule is that correctly priced real estate will sell well in any market environment. all these rules apply including; preparing your home by completing all the miscellaneous tasks around the home, making sure your property is spotlessly clean including gutters, garden beds and glass and removing any excess clutter from your home. the right time to sell your home is when you feel the time is right. to attempt to pick the top of the market to sell and the bottom of the market to buy is simply a recipe for disaster.
property management
we have had questions from some of our clients this month regarding adding tenants to existing leases. this sometimes poses difficult questions to a landlord.
- how well is this tenant going to respect my property?
- will they be a good match for the current tenant(s)?
- will they be able to manage the rental payments effectively and on a timely basis?
- am I obliged to agree to a new tenant being added to the existing lease?
the legislation clearly states that a tenant cannot assign or sublet any part or the whole of the property without written consent from the landlord. the landlord cannot unreasonably refuse any such request. the legislation also states that the landlord is not permitted to make any additional charges except administration fees in including a new or additional tenant onto the said lease. taking a wholistic approach to this, it is a straightforward process of the prospective tenant applying for the property and providing all supporting documentation to the agency. the application is then processed on its merits and if the tenant's criteria meets the agency requirements, the said tenant is then able to move in and enjoy the property according to the said lease terms and conditions.
if you want more than you'd expect from a property manager, call us with your portfolio details and see for yourself what you receive in professional advice and accurate market information.
