Friday, September 04, 2009

Big Sales... Big News.

Some big sales are happening & we have had a clean out of properties with the phenomenal winter '09 season, one of the best we have ever seen. As we reported last month, Toop&Toop recorded the largest number of July sales we have EVER had! August was also huge & we’re waiting for the final contracts to be processed to see just how well it went. With sales this strong, all owners should celebrate the return of confidence to property.

Here is an example. Last weekend we had 10 registered buyers for a $2million property at Glenside with competitive bidding taking the final sale price 10% over the reserve, now that is as good as it gets! The result is 1 happy buyer & 9 active “ready to go” buyers who are left looking for a home (actually we have a total of 1014 buyers looking over $1.5million). So if you have a large property… we need to hear from you.

This week we posted the latest CBA, CommSec & RP Data reports on insidestory.toop.com.au. The RP Data “National Home Value Indices” headline reported a 5.9% national growth in house prices. South Australia had the lowest growth at 1.9%, but in our view we remain the State with the most stable property prices & a safe haven for investors.

Windback - $14,000… Countdown - 27 days

Remember to go GREEN if you are a first home buyer. Turn to our page that is all green to find your new home, or better still if you have an iPhone, log onto Safari & go to iphone.toop.com.au. We launched fun yet powerful ToopPA, essentially your own personal assistant to assist you find your new home.

Responsible Agency Practice. I am pleased to say that Toop&Toop has brought forward as much Spring stock as we could with tremendous success. This has not only helped optimise our client’s sale results but will help reduce the negative impact of oversupply in late Spring. The other dynamic to watch out for is SPRING DUMPING of properties on the market. DUMPING occurs when an agency stockpiles properties & then suddenly DUMPS IT on the market in an attempt to look impressive & kick start THEIR spring season. This is a dangerous, outdated strategy & irresponsible for property sellers. We hope it will not occur this year.

Interest rates were on hold again this month, thank goodness. The concern is the prediction that rates will rise very soon, most likely in November. The other issue brewing for property owners relates to Capital Gains Tax, we will look at that soon.

Over the next 2 weeks I am doing my 3 yearly tour of the USA real estate industry. All being well I will provide you with the InsideStory on market conditions direct from the States on the 19th. I also look forward to bringing you the latest marketing & sales techniques from the toughest prestige markets in the USA.

Plenty of reports to look through this week.


Anthony Toop, Managing Director.


www.toop.com.au


© Toop Real Estate Group

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