Buyer’s Advocate in the News
Hot Property 23rd June 2011
Sam Lally for Buyers Advocate was featured during an auction of a 1 bedroom apartment in Brunswick West. Sam had completed a very thorough due diligence for an interstate investor prior to the auction to establish fair value for the property which was well above the quoted range. Armed with this knowledge and superior auction techniques enabled Sam to purchase the property for $386k and beat 4 other bidders on the day. This proved to be a very successful outcome particularly given another one in the block sold shortly after over the $400k mark.
Herald Sun June 5th 2011
John Dagge, property editor of the Herald Sun approached us to obtain our view on where the next property hotspot was. Instead of providing an up and coming area it was our view that some of the best buying is in the traditional blue ribbon areas that have softened over the last six months. An area that we focused on was Camberwell and the opportunities to buy a 2 bedroom villa around the $600,000 mark. Our focus was on a property that had a courtyard with a great floor plan but in need of some renovation. The benefit of the later is that you can add immediate value to the property rather than be reliant on the direction of the market.
Financial Review 31st May 2011
The focus of this story was the drop in new detached house sales which is 22 per cent lower than the long term average. Our view is that this is being impacted by interest rate rises and cost of living pressures which was making it harder for people to get into the market.
Sky News 23rd May 2011
Buyer’s Advocate was recently a guest on Sky News Australia where we were asked “Why are the Auction Clearance rates the lowest they’re been since the Global Financial Crisis hit?”
Sam Lally as Buyer’s Advocate provided this advice:
“The published weekly Property Auction Results are the broader results, spread across whole of metropolitan Melbourne and selected regional areas. Don’t follow the herd mentality and believe everything you read.
Published results often do not take into account every property sold in a suburb or buyer sub group purchasing behaviour. For example investors or first home buyers. When looking to purchase a property in a particular area make sure you keep a close eye on the sub markets.
Quality properties are still selling well and some are achieving phenomenal results under the hammer regardless of suburb or receipt of rents and profits.
ABC 7:30 Report 17th May 2011
Last month we were invited to provide comment on the ABC 7.30 Report program as a professional representative of the buyer residential property market. The focus of the report was to discuss the current question of whether there is a housing bubble occurring. Our comments were as follows:
“Our view is that the Melbourne market has held up pretty well. While there has been a lot of talk about property prices declining we are seeing some stability come back into the market. Any talk of a property bubble is premature. It is natural in a property cycle that there will be some correction over time, however we do not believe that there will be any dramatic falls in prices. There are too many factors that will underpin the market, including migration and the low levels of unemployment. We still very much have a housing shortage in Melbourne that is likely to be the case for some time.
We are seeing some fairly significant decreases in $1.5M + category of the market, but reasonably stable in the $400k - $1M categories. Good quality is still selling well but there are certainly more opportunities today to pick up a bargain than 9 months ago. While 9 months ago there may have been 4-5 parties bidding at auction, there are only 1-2 now or even none in some instances. Even properties that are passing in are still selling within a couple of weeks.
Going forward will be very interesting. I believe the market will be fairly flat with some good buying opportunities. But do not expect the market to collapse to the extent that there is a fire sale of property.
But without doubt the most significant impact will be what happens with interest rates. If they are increased by 50 basis points as many economists are predicting this will certainly happen demand and increase supply which could see some price falls.”
You can view the complete ABC 7.30 Report article by the link on our website home page.
Leader Magazine February 2011
When Buyer’s Advocate recently moved to a newly renovated, double fronted retail premises at 88-90 Burwood Road Hawthorn, it certainly was the right move.
While the location has undoubtedly raised the company’s profile, it has also enabled easier and more convenient access for both current and potential clients. Exhibiting extensive industry knowledge with over 18 years experience, Buyer’s Advocate invites members of the community to visit the new office for an obligation free chat about their offering.
Buyer’s Advocate provides a service to their clients that gives them a distinct advantage and removes the stress along with the time involved, when purchasing a property. Completely independent, Buyers Advocate works exclusively with their clients to achieve their property goals.
When asked about their process, Managing Director Leigh McConnon said, “Once appointed, our representative conducts a concise property search to find the right home to fulfil the client’s requirements. Once the right property has been found, we assess the property’s value based on comparable sales information not readily available to the public. Buyer’s Advocate will then negotiate with the managing Real Estate Agent on our client’s behalf to obtain the best price.”
“Having access to “off-market” and up-coming listings allows Buyer’s Advocate to search a wider variety of quality properties not being advertised through traditional means and before they ‘hit the market’.”
“Using highly skilled negotiators ensures the property is purchased at the lowest price according to market conditions. In many instances this can save clients thousands of dollars over and above the fee.”
Buyers Advocate specialises in sourcing properties within a 25km radius of the central business district, but has also successfully represented clients in outer Melbourne.
Having assisted homebuyers and property investors for over 18 years, the highly qualified professionals at Buyer’s Advocate remain committed to providing clients with up-to-date market information and superior service.
Buyer’s Advocate is located at 88-90 Burwood Road Hawthorn and can be contacted on (03) 9818 4499. For further information please visit www.buyersadvocate.com.au or drop by for an obligation free consultation.
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