Professionals Real Estate The latest figures produced by REIWA indicate that slowing sales in Western Australia may tip the market in favour of buyers over the coming months.
REWIA figures show that the number of houses and unit sales fell to just over 50,000 in 2013-14, down from 52,000 the previous year. In addition recent changes to the transfer stamp duty free threshold for first home buyers has seen a decline in first home buyer activity over recent months which is also beginning to impact on the property market. For example, applications for the First Home Owners Grant fell 28 per cent to 833 in August – the lowest level since June 2011, and some 36 per cent below the 1,307 peak recorded in April 2013.
Professionals are finding that in the current market, properties have to be correctly priced, presented and promoted to achieve a pleasing sale. Even a property that overpriced by $10,000 will prove difficult to sell as buyers are very price sensitive. In addition, the property needs to be correctly presented as buyers will mark down a property that has been rushed onto the market without proper consideration being given to how it will attract buyers.
With over 30 years selling many homes locally, Professionals offers the following tips for property buyers considering selling their home during the Spring months:
- Local Knowledge. Use the services of a real estate agent who has good local knowledge of sales as well as potential property buyers in your area. A reputable agent will be able to set a correct selling price and market the property to buyers most likely to purchase your home. pricing of your home.
- Local Buyers. Research also shows that most people who purchase a home live within 15 kilometre radius of the property. Your marketing campaign should therefore be carefully targeted at potential buyers who live in your local area. This mixed with a solid investment in an online campaign to ensure exposure to the national and international market.
- Eliminate Clutter. If you want to understand how to present your home for sale then have a look at the inside of a display home. By removing unnecessary items such as children’s toys and unused furniture, you can make you home tidier as well as make the rooms look much bigger.
- Colour Scheme. One of the most common reasons why homeowners have difficulty selling their home is that they have selected an exotic colour scheme. The interior colour scheme sets the tone of the home and it should be finished in such a way as to appeal to the greatest number of home buyers. Anyone who is considering selling their home should therefore ensure that they have a neutral colour scheme.
- Light. Your colour scheme should maximize the use of light inside your home. The clever use of light can make your home appear larger as well as more friendly. Typical ways home buyers can enhance the use of light is to use mirrors in smaller bedroom and make sure that windows are always clean for inspections.
