Thursday, April 27, 2006

Winter Sales

With the changes in seasons, we are invariably asked at this time of the year whether to hold over until Spring or to sell through Winter. The reality is that historically Winter prices not only hold, but in many instances are better than at the height of Summer. There is a logical reason for this. In Spring and Summer the market is flooded with new release properties and we have proven over many years that the number of active buyers remains relatively constant throughout the year. The consequence is fewer properties for the buyers, resulting in higher competition, which can lead to better sale prices.
However, there are some rules....
If you choose to sell in Winter naturally there will be a little more mess to contend with on those wild and wet days. It is true, buyers will bring more mess through your home if it is a wet day, but we can provide booties that can alleviate this minor problem. In regards to home presentation, Winter does vary in that you need to get as much natural light as possible into the home. Drawing curtains completely and removing fly screens can make an enormous difference, pruning gardens outside windows can completely transform a room, open fires will provide a very homely feel, swimming pools with covers off and water clean look equally as attractive in Winter and unless it is windy and wet don’t forget to bring out those umbrellas and outdoor settings. Some of the old villas that are very dark can actually present better in Winter and invariably they also have the benefit of open fireplaces. A cosy home on a Winter’s day will be homely and most inviting.
So when it comes to selling, the most important criteria relates to the confidence in the market and is almost irrelevant when it comes to simply the weather. Supply and demand always link so remember that Winter provides a big advantage that more than compensates in most cases. Good luck with your move!

Anthony Toop, Managing Director.

© Toop Real Estate Group

Wednesday, April 19, 2006

Records Sales 2006 off to a flying start!

Last Saturday many would have read of Toop&Toop’s sale of The Myrtles in Medindie at 5.2 million. In the same article (on page 2 of the Advertiser) it made reference to the record sale price for Adelaide of 5.3 million being our sale of Springwood Park. We sold and settled Springwood Park in January of this year. These two sales now make up the highest and second highest prices for South Australia and what is significant is that both have occurred this year in 2006.So, the top end of the market in Adelaide has been very strong. Toop&Toop has never had so much action over the million dollar range and taking a look at the new properties we have listed in recent weeks, we haven’t seen the end of prestige property sales by a long way.

While for some this may appear as bad news since Adelaide’s reputation for affordable homes is ‘on the block”, the reality is that these high priced sales barely rate on the national scene and most particularly as against east coast cities. Adelaide would benefit greatly from a prestige point of view if our highest priced sale was more like 10 million, even Perth has numerous sales in that price range. From Toop&Toops point of view, we have a number of homes about to hit the market which will hopefully challenge the 5.3 million dollar bar and we will do our part in helping Adelaide prestige property remain relevant on a national level. Adelaide is not booming in all quarters. The mortgage belt areas have been hit quite hard in recent months with the combination of higher petrol prices, the end of our record property boom, and the prediction of higher interest rates. There is considerable confusion by both buyers and sellers since while the market hasn’t crashed but has lost momentum and prices are under downward pressure.

For those contemplating a sale, my strongest recommendation is simply to get on with it. As the top end records fall, some of our popular suburbs are recording price falls.... so where do you think this will all lead?

Anthony Toop, Managing Director

Wednesday, April 12, 2006

AUCTIONS ... It Is All Action At The Moment

Last weekend was just amazing! We had a number of auctions that were nothing short of boom like, with buyers shouting out their bids from afar in fast and furious fashion. We are still scratching our heads as to what is going on in this market, but if the past few weeks are any indication, there has been a definite up swing and conditions are tightening for buyers.
One of the properties auctioned last weekend in Toorak Gardens sold close to 30% over the anticipated selling price at $1,805,000. The entire street was blocked off not only from the cars, but also from over 200 people including neighbours and buyers. The auction went for over 40 minutes and needless to say, it was very exciting.
From Toorak Gardens we headed to Myrtle Bank and once again this property sold for nearly 15% over the reserve, with several other agents bidding for clients. This coupled with the good old fashioned shouting out of bids in quick succession made for another exciting auction and was completely reminiscent of the boom.
So for those looking to sell be sure you consider auction ... it is a very good option. Please call us on 8362 8888 for a confidential discussion about your property and the options available.

Wednesday, April 05, 2006

So Goals Are Clear And The Journey Has Just Begun

Competing against your direct competitors is one thing, competing against an entire nation is quite another. While the thrill of being State winner in all major categories this year cannot be understated, to then be finalists in 3 of just 7 national categories was a great honour. The name Toop&Toop echoed through the halls of the Sofitel Wentworth Grand Ballroom and by the end of this Gala Evening there was no mistaking the fact that South Australia was mixing it with the best in the country.

To win the major category of Innovation & Communication against all other agencies in Australia is nothing short of fantastic. What it does say to us is that while South Australia may have a small population, the need to innovate and excel is greater than in the larger market around Australia. Adelaide is an unforgiving environment where our community expect a great deal and at the end of the day it is from our responding to that need that has lead to this national accolade of the best of the best.

The challenge... The challenge is now greater than ever and our motivation has never been higher to continue the push and bring an industry from the old world completely into the new millennium. All eyes are on Toop&Toop with this national accolade and we now have the power to make a real difference on an entire industry across an entire country. We must take this privilege seriously.

Our most passionate belief is that we can re-invent real estate to be more enjoyable, more cost effective, more efficient and to achieve the ultimate goal to make it actually a pleasant experience for both buyer and seller. So goals are clear and the journey has just begun.