Interest rates left on hold – for now!

The Reserve Bank has correctly left official interest rates on hold at yesterday’s board meeting.

After suffering 6 rate rises in the past 9 months this is certainly welcome news for the home owners and buyers.

However, the quiet word is that the major banks are concerned about their profits not being high enough and may put up themselves in the short term. The suggestion is that this rise may only be 0.1% – 0.2%.

So if you are shopping around for the best rate then try our mortgage broker for free advice – he could save you thousands!

Hallett Cove median house sale price

The median sale price for Hallett Cove has increased from the June qtr 2009 of $375,000 to the June qtr 2010 figure of $397,500. That’s a rise of 6% to the same period last year.

However in that same period of time the number of sales has reduced by around 16%, from 55 in June qtr 2009 to 46 in the June qtr 2010.

It seems that the median price is steadily increasing, but not by as much as some of the sellers think!

Hallett Cove is for sale

According to a popular real estate website there are 70 properties for sale in Hallett Cove. Of those there are 13 showing as  under contract – presumably waiting for settlement. That’s more available than has been for probably 12 months or more. Certainly unusual for this time of the year.

Average days on market has stretched out to over 100 days – however the reality is that if the price is right they will sell much quicker than that. But it is the same old story – the vendor thinks it’s worth more than the buyer, so properties are often pushing the price envelope.

I have seen that some of those properties have previously been under contract but have been re-relesased to the market. That occurs either when finance is declined by a bank or a subject to sale property fails on the market.

So if you are a buyer get you finance ready first, then you can negotiate a better price. Or have your property sold first before you buy, negotiate a longer settlement timeframe so that you have time to find a suitable property. Either of these strategies will help you negotiate a better price.

Hallett Cove house sales

The number of houses in Hallett Cove settled in the last 6 months have fluctuated a little, however show the market has been unaffected by the 6 interest rises in the past 8 months. In December there were 15 houses settled, January 21 houses, February 20 houses, March 15 houses, April 22 houses and May 15 houses. According to industry experts interest rates should not change much in the coming few months. In that time I sold and/or settled 9 houses in Hallett Cove myself.

Beach style living with awesome views

7 Cadna Street  Hallett Cove has been re-released for definite sale. Offering some of the best views in Hallett Cove you see the sun come up over the Perry Barr farm area and watch it set over the sea. Views up the metopolitan coast too so relaxing on the deck, or inside the open plan living area is rewarding. Plenty of bedrooms, up to 5 if you need, and living areas upstairs or downstairs and a swimming pool too. Offstreet parking for a caravan or boat. View my website for more.

20 Mariner Drive sold

After one contract cooled off before Easter, with two other buyers just short of the mark, another contract was signed off last week, again with two other buyers missing out.
Now it’s sold and the vendors are very pleased.
It is a great house and we achieved a great price. $565,000!

Tarlton Street under contract

I now have 7 Tarlton Street Somerton Park under contract. This interesting character home has a floorplan that didn’t appeal to everyone, however there is a buyer for every property if you market it well and show some patience.
A secondary buyer is on stand-by if conditions on contract fail.

Hallett Cove homes in demand

Buyers are back in the market with offers made on three of my Hallett Cove listings in the last week.
11 Fairhill Street has a contract signed and are waiting for the cooling off period to finish.
18 Quailo Avenue had an offer from my first day of open inspections, a little bit short of the desired selling price but close and I should be able to close the deal in the next few days.
9 Kurrambi Crescent had three offers from the second weekend of opens. Again I expect that to be finalised in the next few days.

Number 7 in Brock Harcourts

Graham Catt had a huge quarter and earnt the number 7 position from a total of 218 sales agents in Brock Harcourts across South Australia. In a career that started in 2006/2007 with the Rookie of the Year, he has gone from strength to strength through hard work and good service. Repeat and referral business is good recognition of doing a good job.

Graham Catt takes GOLD

The Brock Harcourts Quarterly Awards for October to December 2009 were held at the Wine Centre recently and I earnt the Gold Award for Outstanding Sales Performace. This follows the previous quarter with a Bronze Award for Significant Sales Performance.
Good reward for hard work, so call me to discuss your real estate needs.