19 Floribunda Parade

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The Property – 19 Floribunda Parade Marsden Park NSW

Land Size : 430m2 approx.
Storey : Single
House Configuration : 4bed / 2bath /2garage 
Builder : TBC
House Design : TBC

Estimated sale range: $1,050,000 - $1,100,000.

Remember that this price range indication is only my assumption of where the market will react to the property based on the recent sale evidence in the CMA, 
At the end of the day I can suggest a range, You can suggest a range, but ultimately it is the buyer who dictates the final price –
My Job is primarily to transmit the information required to sell this property and create excitement to the buyers so that their own perceived value is as high as possible.

I have observed other similar 4,2,2 houses with good inclusions sell around $1,000,000 recently however you have a much bigger land size to them, I think this will compete with those and hope to achieve even more given a full campaign.

How do we estimate the market value of a property ?

  • Comparative Market Analysis (CMA) – This is the most important part of the appraisal as it provides a comprehensive overview of all the properties which have sold in an area, Your properties CMA should only include properties which are “comparative” meaning the 3 components of the property should be considered and compared to the property being valued. The CMA should include all properties of the same configuration sold in the area within the most recent market cycle or most recent relevant market.
    In this CMA we include only properties sold in the most recent market cycle.

What are the 3 components of property evaluation ?

  1. Land Size & Location – The most important thing to all buyers & the banks is Land Size & Location, A small house with very basic inclusions can easily outprice a large house with top inclusions as long as the land is larger or in a better location.

  2. Configuration – The second most critical factor is the house configuration, Meaning the number of bedrooms, bathrooms, garages etc.

  3. Inclusion Level – Lastly the inclusion level meaning the standard of the inclusions throughout the house can heavily effect the price in some cases and barely make a difference in others this is because most inclusions are purely cosmetic and do not improve the liveability of a home for example 40mm ceaser stone is very nice, and may look better than 20mm ceaser stone but in reality it can easily be upgraded any time so it doesn’t affect the price too much.
    The type of inclusions that do have a much larger effect on the house price are ones that significantly improve the liveability of the home or ones which cannot be easily upgraded later for example ; high ceilings, swimming pools etc.

Key Takeaways from the CMA guide for your property:

  • Similar singles on 400m2 or less have historically sold for around $950,000 with a large increase to $1,020,000 average after the boom, That’s obviously a rough 7.5% increase which is in line with the market.

There is always 3 prices for every single property on the market including this one :

  1. The Bank/Valuer price : TBC by the valuers, Their price is based on the recent comparative sales it will be the same as the estimated market price above.

  2. The buyer’s response price : (This is an estimate of what the buyers will want to pay for the property) Usually buyers try to purchase below certain price thresholds, In this case the “threshold” will be likely be $1,050,000
    The Buyers will likely say : “I like this house but I’m not willing to spend anything over $1,000,000…”
    One example response to this : “Yes I understand you may not want to spend over $1,000,000 today, But market is trending up right now FAST - if you hesitate here you may miss this one and find yourself paying even more for the next…”

  3. 3. The Emotional Price : (This is the price someone is willing to pay when they absolutely fall in love with the idea of living in the property – When they cross the perceived threshold and do whatever it takes to secure the home)
    This only happens once they properly visualize themselves owning the property and get hooked on this dream, To get the “emotional response” they must be made fully aware of the dollar value of all the inclusions (We have to layer on the value they are getting) including the hard work which has gone in to the property which they themselves are not required to do, And they must have a fantastic experience at the inspection which we are very good at giving them.

    The Emotional buyer is always the target when I am selling & I am a specialist in generating these types of buyers especially.


    HOW TO TURN AN AVERAGE BUYER INTO AN EMOTIONAL BUYER :

 

  • Properties need to be immaculately presented on every inspection.

  • Perfect styling is crucial in channelling the buyers attention to the right features of the house and creating the dream of living there within their mind.

  • My presentation of the home must be strategically planned out and flawlessly delivered – I believe the agent has got to be able to tell a compelling story about the property, What it provides and how it all came together.

  • The buyer experience inspecting the property must be considered fully : For example the property must be easy for them to locate (this is why we use corner pointer signs), They should be made to feel very comfortable inspecting (room temp must be good, bottled water offered etc), And moving the round the house must seem effortless so we try to ensure they don’t get stuck in any rooms or on the stairs when there is large groups for example. (they will remember this)

  • We have to appeal to all their senses, It should smell good even taste good & sound good so I usually have cookies or chocolates at all my open homes as well as scented candles & always have some music playing because there is nothing more uncomfortably deafening than a silent home.

These are just some of the strategies I have developed over the years to create and close emotional buyers, These strategies have allowed me to gain a reputation for getting incredible results time and time again by going the extra mile.

THINGS TO CONSIDER ABOUT YOUR PROPERTY

The reasons yours is special is :

  • The location is superb, Shopping centre is now visibly under construction nearby

  • The new Northbourne School is short walking distance as well

  • There are rarely any single storey, double bathroom homes with over 400m2 land size

Things that some buyers may see as potential drawbacks & other potential issues :

  • TBC

My priority will be presenting the home and framing it in such a way that the buyers get emotionally attached to the property from the very onset – It is crucial that we rock every inspection and make sure that a sense of urgency and competition is created, This is what I’m very good at !

Capability

  1. I work with an experienced agent, Theesan Pather familiar with high end designer built houses in affluent suburb’s previously specializing in The NW zone from Castle Hill to The Ponds where he still sells today.

  2. Currently Theesan & Pera are the top 2 Agents in Marsden Park and have sold 3x as many property’s as our nearest competitors in the last 12 months.

  3. As a resident agent living nearby in Marsden Park I have a distinct advantage over the competition - When HOT buyers are in the area and call to make an inquiry I can be with them at the drop of a hat capitalizing on every opportunity to present the property in those moments when buyers are available & at their hottest !

  4. Urban Land Housing have a truly massive evergreen database of buyers from across NSW especially Western Sydney and we believe we meet & speak with more buyers than any other Real Estate Agency in NSW due to our role as A leading project sales agency.

  5. We currently hold over 90% market share in the Stonecutters Ridge Estate, Where I believe buyers suitable for this home may be ambitiously shopping.

  6. Our retail offices including the shop at Greenway Village Colebee which will play photos/video of the property on 24 hour rotation at the entrance of the shopping centre providing great exposure no one else can promise.

  7. As a projects marketing agency as well as a real estate agency, We have a very large network of developers such as Stockland who often send us buyers who come into the land sales office there looking for ready built homes.
    The Stockland employees keep brochures of our biggest listings in their office and provide these to people who go there looking for houses, This level of support from the main developer themselves is not granted to any other agency.

  8. You will find our marketing grade is well above any regular real estate agencies as we work at the elite level in projects and developments.

 Current Market Conditions:

  1. Market was booming with activity until the Covid-19 lockdowns began and the recession began market flatlined and held steady now it has had an artificial boom like we have never seen before due to the incentives given by the government to boost the economy but this may not last for all of 2021 as many of those incentives have now been concluded.

  2. Corona virus is presenting new challenges and new instability & uncertainty to the market, Yet people are still buying like crazy and the low stock is helping prices bloom but its worth noting stock will increase in Spring further helping to cool prices.

  3. Interest rates are lower than ever now recently dropping to 0.10% a historic low, This is good however some banks such as Westpac I believe have begun increasing interest rates and if rates increase by just 1% we expect a 10% drop in property prices based on historic modelling.

  4. Outlook for Sydney market in 2021 – We expect the market to increase again during Spring.

  5. Vendors with property they don’t want to hold for at least 3 years should consider selling now while its good as the long-term forecast is dubious

  6. Summary – Homes are selling quickly and the prices are good for now !

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