Categories
Selling

Selling Your Property ? Here’s How….

Are you selling your own home?

Are you selling in Perth from interstate?

Are you selling a deceased estate?

Regardless of your situation, we can take the stress out of the entire process.

Whether you are at the other end of the city, living in another state, or even living overseas – we can do the dirty work for you.

That’s right. We’ll take care of everything.

Before going to market

We will prepare your property for sale which could include organising trades such as:

We will prepare your property for sale which could include organising trades such as:

  • painter
  • plumber
  • electrician
  • handyman
  • cleaner
  • even FREE staging and styling of the property

Marketing your property and negotiating

When it comes to marketing the property for sale, we are experts in generating urgency and competition for your property to ensure that you get the best possible price.

Post Sale

Finally, post sale we will continue to sort out all the practical stuff including organising the settlement agent, final inspections so you won’t have to lift a finger.

Just sit back and relax while our experts do it all.

Watch this 1 minute video below where Rasmus from The Haus Exchange explains exactly how the process works. 

Now that you’ve watched the video you may be wondering what’s next. Our team of experts will guide you on this journey. From staging to styling and everything in between. We can help sell your property remotely. Your first step is simple. Contact us today to get the ball rolling.  

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Categories
Market Update

Perth Property Prices February 2023 – what a pleasant surprise

Despite all the media speculation, the Perth property market continues to hold steady. Indeed, the REIWA CEO Cath Hart has recently said that

“Our market remains resilient and stable, particularly when compared to the east coast. Perth and WA are still in an excellent position to weather future rate rises, with our strong economy, growing population, limited stock levels and affordable housing.”  

If the activity level for 2023 so far is to go by, we will certainly see the market continuing to be a sellers market and a good indication is the strong interest from interstate investors. 

Over the summer I’ve been speaking with many homeowners like yourself that are curious about our property value predictions for the year ahead. Many of them have been pleasantly surprised at how the market is going and the value of their home.

You may also be very pleasantly surprised to know just how much your Perth property is actually worth at today’s local prices. 

If you would like to discuss or would like an update on the 2023 value of your home or investment, please get in touch. It doesn’t matter if you are looking to make a move in 2023 or you are just curious as to how much your property is worth.  I would be happy to provide a fully complimentary and with no obligation written report on the current estimated value of your property.


Simply click below and I will be in touch. 

Categories
Market Update

Perth market update

What you can expect for 2023. 

We are coming towards the end of the year. So, what is happening right now and what can you expect for the next couple of months and into 2023?

The question that keeps popping up is the effect of the interest rate rises that we have experienced over the last couple of months. I believe we are going to receive another interest rate rise, but I actually don’t think, it’s going to make much of a difference. This is why.

  1. The property prices has gone up since January and though they have taken a small step backwards in the past quarter but less than a percent. 

What I am experiencing when selling homes and talking to buyers is that they’re still out there in force. They are still heaps of people looking to buy, but when there used to be maybe six offers on a property you might only looking at four or five now. So, it’s still a sellers market. Interesting enough, there’s a lot of investors buying, and some of them are interstate or overseas. And in the last couple of months, we’ve received a number of offers on properties from interstate and overseas purchases. They love Perth because the rental return is really strong and the median house price is the lowest of any of the capital cities. 

2) The first home buyers who are also very active in the market, are now getting competition from the investors. The first home buyers are active because they can’t find a rental. And if they find a rental, the rent is pretty high. In some cases, getting a mortgage is actually cheaper than renting. So, the market is strong from a seller’s point of view, and we are 30% under a balanced market. 

So, who’s selling now? 

There are a lot of investors who are starting to sell their investment properties. They’re cashing in on their asset. They’re doing that because even though the rental market is good, the selling market is even better, because there’s hardly anything for sale. And quite often we receive multiple offers on properties. Another reason why a lot of investors are coming to me to sell their properties is because their fixed interest rate is about to go up. So, in some cases, they’re looking at having to pay the double the amount. The other market that is still very strong is your family homes. People trade up, people are downsizing, and that’s never gonna change. Some people, unfortunately are getting divorced. 

The market right now is as strong as it was earlier the year. We have seen, price increases throughout the year. So, early 2023 looks like a good time to list your property for sale and cash in. As always, the value of your home depends on a number of factors, What the condition it is in, the location, the size. 

If you’d like to know what your property might be worth in the current market or even your investment property is worth in the current market, do get in touch. 

What is your home worth?

Would you like to know what your Perth property (home or investment) is worth?

Whether for planning, financial management, an additional mortgage or just peace of mind, decisions made with anything less than the facts can lead you to make choices that may not be in your best interests.

We can provide you with the facts to calculate an accurate assessment of equity available in your property for a new purchase, upgrade, downsize or investment.

Categories
Market Update

Perth market update

What you can expect for 2023. 


We are coming towards the end of the year. So, what is happening right now and what can you expect for the next couple of months and into 2023? 


The question that keeps popping up is the effect of the interest rate rises that we have experienced over the last couple of months. I believe we are going to receive another interest rate rise, but I actually don’t think, it’s going to make much of a difference. This is why.

  1. The property prices has gone up since January and though they have taken a small step backwards in the past quarter but less than a percent. 

What I am experiencing when selling homes and talking to buyers is that they’re still out there in force. They are still heaps of people looking to buy, but when there used to be maybe six offers on a property you might only looking at four or five now. So, it’s still a sellers market. Interesting enough, there’s a lot of investors buying, and some of them are interstate or overseas. And in the last couple of months, we’ve received a number of offers on properties from interstate and overseas purchases. They love Perth because the rental return is really strong and the median house price is the lowest of any of the capital cities. 

2) The first home buyers who are also very active in the market, are now getting competition from the investors. The first home buyers are active because they can’t find a rental. And if they find a rental, the rent is pretty high. In some cases, getting a mortgage is actually cheaper than renting. So, the market is strong from a seller’s point of view, and we are 30% under a balanced market. 

So, who’s selling now? 

There are a lot of investors who are starting to sell their investment properties. They’re cashing in on their asset. They’re doing that because even though the rental market is good, the selling market is even better, because there’s hardly anything for sale. And quite often we receive multiple offers on properties. Another reason why a lot of investors are coming to me to sell their properties is because their fixed interest rate is about to go up. So, in some cases, they’re looking at having to pay the double the amount. The other market that is still very strong is your family homes. People trade up, people are downsizing, and that’s never gonna change. Some people, unfortunately are getting divorced. 

The market right now is as strong as it was earlier the year. We have seen, price increases throughout the year. So, early 2023 looks like a good time to list your property for sale and cash in. As always, the value of your home depends on a number of factors, What the condition it is in, the location, the size. 

If you’d like to know what your property might be worth in the current market or even your investment property is worth in the current market, do get in touch. 

What is your home worth?

Would you like to know what your Perth property (home or investment) is worth?

Whether for planning, financial management, an additional mortgage or just peace of mind, decisions made with anything less than the facts can lead you to make choices that may not be in your best interests.

We can provide you with the facts to calculate an accurate assessment of equity available in your property for a new purchase, upgrade, downsize or investment.

Categories
Tips and FAQ

FAQ

(Frequently Asked Questions)

If you are are thinking of selling your home or investment property, there are a lot of questions that may come to mind and it can all be very daunting. The good news is that you are not alone. Below we have shared our most frequently asked questions. 

Didn’t find your Answer?

If you cannot find the answer on this page, please fill out the form below and we will get in touch. If you cannot wait, please send a sms or call 0466 725 866

Categories
Selling

How to get a Buyer to pay more for your home.

Find out what motivates a buyer to pay more than market price for your property. This approach can be applied to most types of properties.

When you’re selling your property, you want the premium price, of course. But that’s not always the outcome. So why is that? 

To explain this a little bit more, we’ll look at the Olympics and your hundred metre final as an example. The reason why we’re getting world records (at the Olympics) is because the runners have transparency, they have competition. They’re pushing each other and it’s no different when selling a property or your home. 

If a buyer submits an offer and they know that they are the only buyer, they’re not going to pay any more than they absolutely have to and that is the problem with using private treaty as your sales method which is the most common method of sale here in Perth. 

The Agent is not allowed to disclose what to the other buyer’s offer price is. The Agent can disclose that here is another offer but as a buyer, you don’t know for sure if the Agent is telling the truth or not.

However, if the buyer knows that there are other offers on the table and they know how their offer ranks among the other offers, the lower priced buyer would be more inclined to offer more. With the transparency and the urgency, the fear of missing out kicks in.

To get competition for your home, you need the urgency and that is why that my clients, over the last couple of years when the market’s been down and the market’s been up, have been getting premium prices for their properties because we’ve been able to create urgency and competition using transparency. 

If you’d like to know more about how that can happen for your property, do get in touch Perth real estate for sale expert.

Sales Methods that are transparent. 

As a vendor, you want to sell for a premium price.

The best way (regardless of market conditions) to achieve that goal is through competition. To ensure that you get the best possible chance of generating competition, you need urgency and transparency. Click below to learn more about the different sales methods. 

Overview of traditional sales methods

Transparent sales methods

Categories
Market Update

Perth Property Market Update – August 2022

In this month’s update, I discuss why the Perth Property Market may not really be all doom and gloom.

In fact, Perth’s property market is abuzz with owner occupiers and investors.

Due to the low rental vacancy rate of 1.1 per cent and the low unemployment rate, the Perth market should remain strong for the foreseeable future.

As 2022 approaches its midway point, uncertainty persists as politicians and regulators face an economic future that is intimidating – at best. Further, rising inflation is looming as a threat and fast becoming the hallmark of household and business decision-making. 

To combat spiralling inflation, the RBA signalled its intention to keep raising interest rates in 2022. Annual inflation reached 6.1% in the June quarter. 

However, in a recent presentation, RBA Deputy Governor Michele Bullock urged borrowers not to panic. According to Ms. Bullock, savings would protect many households from short-term rate increases.

Not too stressed in the West

Western Australia has experienced unprecedented migration in recent months and remains one of the most affordable places in the country to buy a home. According to the ABS, over 13,000 people migrated west in the final months of 2021, making it the largest migration in Western Australian history. 

Why? Because of lower median house prices and the strength of the property market. 

According to Real Estate Institute Australia (REIA), Perth had the most affordable housing sale price of $525,750 out of all capital cities in the March 2022 quarter.

Even as interest rates rise, many investors and homebuyers seem to be looking for property in the Perth area. Well-priced inner city properties will continue to sell quickly, but we’ll see the first shift in the mortgage belt areas, typically on the outskirts of Perth.

First-time purchasers made up 38.5% of the WA owner-occupier market. This is the highest percentage of any state in the nation, according to REIA. 

State of the market

Perth house prices increased by 0.4 per cent in June, marking it the second month that the rate of capital gain has decreased.

The Housing Affordability Report from REIA has indicated that WA remains the 2nd most affordable state in Australia to buy property, just behind the Northern Territory. 

The slowdown comes after a brief rebound in Perth’s growth rate, which coincided with the reopening of state borders. However, it appears that the Perth market is losing steam along with the national trend.

With buying activity appearing to be high and advertised property stock remaining exceptionally low, selling conditions appear to be steady across the Perth market.

Houses typically sell in 18 days, which supports this; yet, such a quick turnaround has happened because discounting rates have risen.

Perth property predictions for August 2022

With further interest rate hikes expected after the RBA increased the cash rate by half a percentage point to 1.85%, things could get slightly worse before they get better. 

The ANZ predicts an interest rate as high as 3.35 per cent by the end of 2022. Their Head of Economics, David Plank, is optimistic that this won’t mean a hard landing for the economy because of the continuing low unemployment rate and increased wages. 

Closing Thoughts 

There you have it! Perth’s property market is sound even with more predicted interest rate hikes. 

However, due to the widespread popularity of fixed-interest mortgages post-pandemic, continued rate increases pose a significant risk for the real estate industry. We will have to wait and see how this affects fixed-interest borrowers currently protected from rate increases. 

The best way to navigate these uncertain times is to speak to an independent professional who understands their location.

The Haus Exchange will continue to monitor the economy’s state and provide timely updates on how it affects the Perth real estate market.

Want to Learn More about the Perth property market?

Are you thinking of making a move in the next 6-12 months or would you simply like to know where you are at? If yes, click here to learn more

Categories
Selling

Sales Methods that are transparent.

As a vendor, you want to sell for a premium price.

The best way (regardless of market conditions) to achieve that goal is through competition.

To ensure that you get the best possible chance of generating competition, you need urgency and transparency.

This is where the sales method comes in.

Traditionally, your choices are either private treaty or auction but in the past 3 years or so our clients have experienced great results with the following 2 methods.

  • Openn Negotiation – Auction style (but with flexible terms) approach
  • Openn Offers – Private treaty style approach but you can disclose pricing
openn-features-blog-3-Jan-15-2022-08-30-44-75-AM

Openn Negotiation

In an Openn Negotiation, all bidders are pre contracted – which confirms their commitment to purchasing if they are the winning bidder and provides authority for the auctioneer to transfer their specific terms to the final contract and execute on their behalf.  

Because Openn Negotiation operates under Auction Law, the highest unchallenged bid above reserve wins. As such you need an Auctioneer (complimentary when selling with The Haus)

Throughout an Openn Negotiation campaign, there is full price transparency. And just like an auction, the current bid (price) will be updated throughout the advertising.  

Openn Offers

As Openn Offers operates under a private sale or private treaty legal framework, the agent is able to control whether qualified buyers can see the prices submitted by other buyers via an on/off app setting. If the app setting is turned on, then buyers can see where their offer ranks in terms of price, providing greater transparency than traditional private treaty.

An Openn Offers campaign does not require an auctioneer and given it is not an auction, the agent would not reveal any prices outside of the platform. Only qualified buyers are informed of the price ranking through the app.

Openn Offers also allows the vendor, guided by the agent, to accept an offer which may have a lower price but more favourable terms.  They may also accept any offer at any time – which means they don’t have to proceed to the final stage.

Shared features

There are a number of shared features the Openn platform offers across all sales methods. These include:

  • A countdown timer and final stage to help build anticipation, competition and bring each process to a close. 
  • The capability to turn on or off the registration of interest feature. 
  • Contract automation – so agents can execute the final contract of sale by uploading any document, applying the fields they’ve captured from buyers and routing it for digital signatures. 
  • The ability to embed a “make a bid” or “make an offer” button directly onto an agents’ website and,  
  • A property report which can be automatically generated as a PDF at the end of the campaign with statistics on how the sale ran.  

Which method should you choose?

It really depends on your property and your situation.

If you believe that there will be strong competition for your property or you are unsure of market price for your property, then Openn Negotiation is the way to go.

On the other hand, if your property is less likely to attract strong interest or price is not the most important factor, then Openn Offers is the way to go. You can also start with a traditional campaign and switch to an Openn Offers campaign as soon as you receive multiple buyers.

At this point in time, you can switch between the two campaign styles at no extra cost.

That’s a wrap! Hopefully this helps you to understand the key differences in features between the sales methods available on Openn.

If you would like to learn more, simply get in touch here.

(Images and text supplied courtesy of Openn)

Categories
Market Update

Perth Property Market Update – June 2022

Australia has seen many changes in the past month. A new Labour government was voted into power on 21 May 2022, and the RBA raised the cash rate to its highest level in decades with an increase of 50 basis points to 0.85%.

In this update, I look at Labour’s five-point housing and economic plan and what it means for homeowners. Lastly, I explore Perth’s property market predictions for the coming months with an emphasis on rising cash rates likely to continue well into 2023. 

Watch the Perth Market update in 58 seconds including why this winter could be the ideal time to sell and the really easy way that Buyers can get ahead in this market.

For a more detailed market update, please see below.

Share market in decline

The recent rise in inflation has seen the RBA hike cash rates to higher than expected levels. Global market shares are dropping since consumers face price increases from every direction while growing concerns of a recession due to geopolitical unrest.

So, what does this mean for Perth’s housing market?  

Last week, REIWA members reported 869 property sales in Perth, a decline of 12.8% from the previous week. This is due to an 11% drop in home sales, a 17% drop in unit sales, and a 16.8% drop in vacant land sales.

While federal elections have historically slowed activity as consumers wait for the results, numerous interest rate hikes are on the horizon, which also appears to be affecting buyer attitudes.

Conditions have changed since 2021. REIWA reports that housing sales have decreased steadily from December 2021 to May 2022. However, unlike large cities on the east coast, Perth is still experiencing growth. 

Perth is currently the most affordable state capital, with a median dwelling value of $555,500, making it attractive for buyers. Although there is a decline in owner-occupier demand, investors with new funds and equity may look to acquire properties and benefit from low vacancy rates and rental price growth. 

Although further rate hikes are expected, Perth’s housing market should see moderate growth over the next while.

The Labour government’s proposed housing and economic policy 

Australia’s new federal treasurer, Jim Chalmers, warns of tough times ahead as he notes the previous government, led by Scott Morrison, has left him in a dire situation. 

“There are elements of strong demand, tight labour market, there are some pleasing aspects of the national accounts, but there are far more troubling aspects in our economy,” said Chalmers.

That being said, more social housing was promised by Labour, as well as a strategy of helping 10,000 Australians each year through a 40 percent equity contribution.

Both policies can potentially increase demand in a housing market that is already oversaturated. However, recent data suggests that Australia’s housing boom may be about to an end, with national prices dipping in May for the first time since 2020, as higher interest rates put pressure on buyers.

ANZ chief economist, Shane Oliver, notes that Australia’s property market is “highly sensitive” to changes in the monetary cycle due to high debt to income ratios. 

Maintaining economic growth amid rising global tensions and inflation while addressing calls for higher spending from freshly appointed lawmakers will be difficult for the incoming government.

Perth property predictions for July 2022

Bloomberg reports that 79% of economists predict a further rise of 50 basis points in July, which sets the cash rate at 1.35%. This should come as no surprise following a 75 basis point hike by the United States Federal Reserve on 16 June 2022. 

The rise in cash rate indicates a further slow in growth in July for Perth’s property market.

Concluding thoughts

Haus Exchange will continue to assess the economy’s performance and bring you regular updates on how it affects the Perth property market.

If you’re considering buying a property, I advise you to make sure your finances are in order so that you can move quickly to avoid rising interest rates. 

Categories
Selling

Should you sell before you buy or buy before you sell?

Similar to the chicken and egg scenario, one of the greatest conundrums when transacting property is: do you sell before you buy or buy before you sell?

There’s a few points to consider if you’re in the market for a new home, especially if you are considering the subject to sale option.

Finances

Depending on your financial capacity, buying a property before you sell your existing home is a good position to be in. It gives you the option to search for something that meets all of your needs without any time pressures.

But for most of us, this scenario is uncommon. There’s not many who have the financial ability to stump up for two mortgages at the same time, so it’s important to crunch the numbers before you take the plunge and make an offer on your dream home.

Subject to sale

One way to buy before you sell without having to simultaneously fund two mortgages is to include a “subject to sale” clause in your offer. While this can be a solution, there are some underlying issues that mean a “subject to sale” clause might not be all it’s cracked up to be.

For example, you can’t be absolutely sure how long it will take to sell your home so there’s going to be an element of uncertainty if you’re traversing this path.

It’s also possible for the seller to instate a 48-hour clause, which means that the vendor can continue to market the property and stage home opens as if your offer is not even on the table. If the vendor receives an offer from another buyer, they are well within their rights to accept it but will give you a period of 48 hours to make your offer unconditional.

Alternative approaches can be especially enticing if they’re a cash offer, even if it’s of a lesser value as it may be perceived to be less of a risk than an offer that relies on sign-off for a new loan.

Get your ducks in a row

It’s widely accepted that the best process is to list and sell your existing home before you make an offer on a new abode. That way, you’re not overextending yourself or adding to what can already be a stressful situation.

Ensure your finances meet your expectations for your dream home. Take the time to speak with you mortgage broker or bank about how much you owe on your existing home, what equity you have and how much you can borrow.

Research real estate agents and speak to some trusted realtors to get an idea about how much your property is worth in the current market. It’s also worth conducing your own inquiries about the prices of similar properties are fetching in your neighbourhood.

What if I sell before a buy?

There are a few things to consider if your home gets snapped up before you find a new property.

  • Request a long settlement. Usually, settlement periods are between 21 to 28 days once finance is unconditionally approved. But it’s worth trying to negotiate a longer settlement if you don’t have a new place to call home
  • Is it possible to rent your home back? If you’re hopeful of becoming a tenant in your own home, include a condition on the offer and acceptance agreement for the buyer to consider.
  • It might not be an ideal situation but you might want to consider moving in with family or friends or to a rental property as a short-term solution until you find the next home you want to purchase. It might be an opportunity to pay no or minimal rent and save more towards your next bricks and mortar investment.

Additional costs

As well as fees and commissions paid to a real estate agent for marketing and selling your home, it’s important to be aware of any additional costs that you may be presented with during the process.

If you are looking to sell an investment property, you will need to consider capital gains tax.  You will also be expected to pay stamp duty and settlement fees on your new home. And depending on how much you are looking to invest in marketing your existing home for sale, there may be extra maintenance or property staging costs to pay for to ensure the property looks its best when it’s put on the market.

How is your property value tracking in this shifting market?

Why guess when you can just ask us for a Digital Appraisal of your home or investment property. If it’s been on your mind, but you haven’t had the chance to arrange an appraisal or you would prefer to let your tenants have their privacy, this is your chance to stay informed without the hassle. 

Simply get in touch with the property address and a brief description so that I can send you an estimated value based on similar homes sale over the past 12 months.

This report costs nothing and is totally obligation-free, so why wait? Simply get in touch and I will send you the report including market research and comparative market sales within 24 hours.

Also find stage house for sale in Perth