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  • 0 bedrooms
  • 0 bathrooms
  • 0 parking spaces

$
Land with burnt shell of a home
  • 4 bedrooms
  • 2 bathrooms
  • 3 parking spaces

$ 610,000
Brilliant 4 Bedroom home, Superior quality throughout
  • 3 bedrooms
  • 2 bathrooms
  • 2 parking spaces

$ 255,000
Quality 3 BR with Shed & Ent Area
  • 4 bedrooms
  • 2 bathrooms
  • 2 parking spaces

$ 455,000
Exceptional 4 BR on 1200m2 Cnr Block
  • 4 bedrooms
  • 1 bathrooms
  • 3 parking spaces

$ 262,000
4 Bedroom BV Near Hospital. Cash positive
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The local real estate market is very healthy at the moment with nearly anything under $300K selling quite quickly with the exception of properties that are a little bit out of the ordinary and first home buyers are certainly looking but nearly without exception, they are saying that they want to wait until the 100% stamp duty exemption kicks in on 1/7/17 before signing on the dotted line.   The only problem with this is that I believe, without doubt there will be a sudden rush which will cause prices to go up and properties in this range to be thin on the ground.   

I have been saying for a long time that the median price in Shepparton was going to rise and latest figures suggest just that with the median price for a three bedroom house going from around $240,000 probably six months ago to $262,000.    Now before we all get excited, these figures don’t mean that houses in Shepparton have risen nearly 10%, it just means that the median price has risen so how did this come about.  Well firstly the median price is the midway point of all houses / units sold at market price over a set period which means that if there were 101 houses sold in a certain period then the figure would be the house which has 50 houses above it and 50 houses below it.   So why did the Shepparton median price go up.  Simply put all of the cheaper houses in the 130K through to the 160K range have basically been sold so it makes sense that without these properties being sold to influence the market then the median price must go up.    Further regarding the local market I see it as presently being like a bit of previously wet ground which has now dried up.  In the past the market was soft and spongy which caused house prices to be negotiated downwards whereas now there’s a solid base supporting the prices with very little downward movement.    This situation, in my opinion will ultimately lead to price increases in the not too distant future.      

Another one of my beliefs was proved correct this week with a story in The Age saying that a recent survey showed that change over costs such as stamp duty, moving fee and agents commission were a terrific inhibitor for people who were wanting to down size.   Generally as a rough guide it can cost people around 10% of the price of their home by the time the move has been complete.     I was made aware of this several years ago after speaking to a person from Sydney who said that they lived in a large family home which was now too big for them and that they wanted to move into a townhouse in the same area, where they had lived for many years, but that they felt trapped as they couldn’t afford to make the move as the new town house was essentially the same price and they couldn’t afford the changeover costs.  

I had a chap from Melbourne ring during the week saying that he wanted to buy a cheap three bedroom house for an investment as he didn’t have a lot of money and that the amount he was wanting to spend was around the low $100K mark.     It just makes me wonder how they intend to service the loan, address any issues that happen along the way and what their ultimate goal is and the reality is that these days are long gone.       

I don’t have an exact count of the number of real estate portals that we are on but this week we have subscribed to a couple more bringing the total to probably 50 or 60.

Feature properties on realestate.com.au are going to cost $457 for 30 days from 1/7/2017 which is really ridiculous since they were only $115 per month a few years back.

The HIA (Housing Industry of Australia) New Homes Sales Report showed a modest decline in total new home sales nationwide in March 2017 of 1.1%.  I thought the figures might have been a bit more dramatic than that as this is around the time that the Victorian Government announced its upcoming First home buyers grant of stamp duty exemption being increased from 50% to 100% on the 1st of July.  No doubt the decline will be more significant in the figures for the next couple of months and then have a pretty substantial turn around in July. 

Marg and I have been busy these past few weekends practicing what we preach to people intending to sell, which is de-cluttering and giving attention to anything that requires it before putting a home on the market as we are gearing up to sell soon so we can move out to Freedom Place.    We’ve had this move in place for a long time so at least there’s no sudden rush however it certainly is hard to sort things out after nearly 20 years in the one place.  

Lastly I am wondering just how many McDonalds our city needs with the news that another one is to be built near the showgrounds.

This week’s useless information is:-

The human heart creates enough pressure when it pumps out to the body to squirt blood 30 feet.

In the last 4000 years, no new animals have been domesticated.

Nudiustertian is a noun that means the day before yesterday.

Freedom Place Update:

Slab number three is due to be poured this Wednesday and the walls and roof panels will be arriving for the second house in the next couple of days and at this time we are looking to start another house around every two weeks or so.   This brings me to the point that if you are interested in seeing how these state of the art energy efficient homes are being built please don’t just turn upon site as the builders won’t let you on the site but rather give the office a ring and we’ll organise a suitable time.  

I am always available to answer any of your real estate questions on 5831 6405.

Please feel free to pass this email on to any person who you think may be interested in its contents.

NOTE:  The advice given in this newsletter is to be taken as general advice only and should not be relied upon.

Regards

Ken McNamara.

Footnotes:

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Ken is the number 1 selling residential agent in the Shepparton area was the winner of the 2011 Chamber of Commerce Business Excellence Award and was a finalist in the 2012 awards.