There is no disputing the facts that the top tier of the property market and the harbour side properties are making it ripe for bargain hunters searching for properties over $1,500,000.

The reality is that there are only a handful of suburbs in the South East Sydney market where properties are still growing in value.  They are specifically properties under $1,000,000 in Sydney’s Inner suburbs and East. These suburbs include: Alexandria, Botany, Chifley, East Botany, Eastlakes, Mascot, Matraville, Hillsdale, Malabar, Pagewood, Maroubra Junction and apartments in the Kingsford and Kensington areas.

Overall N G Farah finished the year with $400,000,000 in residential sales and an average auction clearance rate of 78%. At a time when clearance rates are hovering at around 50% throughout Sydney’s metro area.  The success of our in room auctions at the Crowne Plaza, Coogee Beach in 2011 was a clear point of difference for N G Farah amongst our competitors.  

Some agents may also negotiate a variable commission in effect a bonus is negotiated to be paid to the agency for any amount the property sells above an agreed amount that the vendor usually agrees to achieving.

For example, if your home is proposed to be worth $900,000, an agency may negotiate a commission of 2% of the overall sale price, plus a 5% variable commission, for any amount it achieves over $900,000. Assuming your property sells for $940,000 the agency would receive an $18,000 initial commission and a $2000 variable commission as a bonus.

What is negotiated will usually depend on agency competition in the area and should be formalised in writing during the interview process with agents, along with any additional extras, such as professional photography. Agents will not charge their fee until after your property has sold, which may be months after a campaign starts, and will usually withdraw their commissions from any deposit paid by a buyer.

Advertising is a separate cost. A full media campaign is typically between 1% and 1.5% of the property's value and will cover costs associated with the For Sale sign board, copywriting, online advertising and print media.

Vendors should also expect to pay at least $1000 for legal costs, if the property is being sold by auction and any amendments required to the title.

Spring is a great time to consider selling, If you would like a no obligation Market appraisal of your home call n g farah covering Coastal and Parkside homes. 

First impressions are paramount: You really only get one chance to get this right, so the appearance of our home when you are trying to sell needs to be at its optimum. Things to look at in detail, the outside areas and lawn area, get rid of any eye sores that you could do without. Usually a good idea to freshen up with a coat of paint it can do wonders for making a home look new and fresh.

Repairs: Doors or windows that are broken, squeaking or not working properly may need attention. Usually a good idea to de-clutter throughout the house and the garage. Consider having your carpets professionally cleaned or if it is in bad shape you should consider having it replaced. If you do not, the buyer will most likely negotiate an allowance for carpet into their offer. Either way you will probably end up paying for poor quality carpet, it can also have a negative impact on some potential customers.

 Plumbing issues; make sure all is functioning properly and that there are no apparent leaks. Check the roof and gutters

and make sure there are no major problems. Nearly all buyers pay attention to the condition of the roof. Most astute buyers will arrange for a building inspection.

 It is the little things that can make a big difference: Plant flowers, replace shower curtains and purchase new matching towels generally it is nice, simple and cost effective. During the Open for Inspection, when potential buyers visit for a showing of your home it is often best to be out of the house. Buyers feel more comfortable and will stay longer if the homeowner is not present, however you must also consider security risks and secure any valuables.

You can visit the n g farah website on ngfarah.com.au and arrange for an up to date market appraisal on line or call one of our highly trained Sales or Property management professionals in one of our 5 local offices. 

It is a great Australian dream for families to own their own home. Whilst a buoyant property market does make that dream more difficult to achieve, most young Australians believe that they can achieve their goals and aspirations by owning their own home.

The property market in Sydney´s South Eastern suburbs continues to report confidence from buyers and a shortage of sellers. At N G Farah´s last in-room auction on 23rd August 2011 at Crowne Plaza Coogee Beach, the team successfully sold all properties under the hammer achieving a staggering 100% clearance rate.

The most pleasing aspect of our last in-room auction was that many properties sold in excess of the vendor’s reserve prices. This indicates that the markets are still growing especially the South Eastern peninsula of Sydney.

In a direct contrast the most exposed properties to ever come up for sale in Australia in Melbourne was a great disappointment. We are referring to the "The Block" and only 1 out of 4 properties sold at the auction. These properties were all in a moderate price range and had been renovated to the very highest standard. More than 25,000 people inspected the properties during their open houses. But in the end there was a lack of confidence from the buyers and that translated into a very poor auction show.

All the properties will be sold after the auction without a doubt as they were all quality properties but in this instance you can see the difference between Sydney and Melbourne. Sydney is moving along nicely, middle range properties are still selling well and some suburbs are still achieving capital growth. Melbourne has completely topped out already, buyers are scarce and there are a lot of properties on the market still for sale. 

Only last week the United States of America had their credit rating downgraded by Standard & Poor from a AAA rating to a AA rating putting their financial markets into a free fall just over a week ago.

Financial markets have since recovered, yet it appears the big banks are pre-empting themselves for a slowdown in demand for mortgages and have already started slicing their interest rates in a bid to have the competitive edge.

There is also a strong chance when the Reserve Bank of Australia and its board meet early next month that rates may fall. This is exactly what happened during the Global Financial Crisis - interest rates tumbled by more than 3%.

This has to be good news for the average family with a mortgage and a secure job or new home buyers just about to embark on a loan.

Interest rates go up and down during the course of any property cycle, yet in the past our Reserve Bank of Australia have always used interest rates to control inflation and as a result of a sound banking policy Australia withstood the GFC and avoided a recession that most of the Western World experienced.

There is still a shortage of quality properties for sale in the South Eastern Region of Sydney. This is good news for potential home sellers who are looking to put their property on the market in the coming spring months.

Ultimately Australia has a low rate of unemployment and more of our international trading is done with Asia, China and India. These are the fastest growing economies in the world and fortunately Australia is rich in iron, ore and mineral deposits.