You often hear agents bang on about marketing tools, advertising options and all sorts of gimmicks in order to sell property, however the main determinant in any sale is price.

Marketing and advertising may draw buyer’s attention to a property but unless the property is perceived as value by the buyers, there will be no sale.

This was never better illustrated than by last weeks sale of 7 Waverly Avenue, Lorne. After some 10 months on the market and with little interest, at the urging of our listing agent the price was reduced from $615,000 to $555,000. Within 14 days the property was sold $545,000.

Constant reviews of the price are imperative in order to correctly align the property price with the current market.

If you happen to be on the coast this weekend, please have a look at the brand new property we have for sale at 9 Narani Way, Fairhaven. This new house is in a bush setting on 1000m2. It will be Open For Viewing on Sunday between 12 and 12.30. Have a look on www.aireysinletrealestate.com.au/126496.

This weekends Open Houses:
Aireys Inlet
Saturday 21st November 2009
1:00pm – 1:30pm 6 Orchid Grove, Fairhaven
Sunday 22nd November 2009
12:00pm – 12:30pm 9 Narani Way, Fairhaven
1:00pm – 1:30pm 6 Orchid Grove, Fairhaven

If you are in town this w-end, please feel free to come to a viewing.

Kind regards,

James Worssam
james@greatoceanroadrealestate.com.au
0418 585 815

Steve Ryan Photography

Another strong week of sales in the area continues the theme of the past six months. Of course sales cannot happen without listings. Many buyers often ask sales agents to keep them informed of any new listings that come onto the market. In reality even the best of us can sometimes allow things to slip through the cracks.

The best way for buyers to keep up to date with new listings is to subscribe to our email alerts or our RSS feeds. This can be done by simply entering the Aireys Inlet page on our new interactive website at www.greatoceanroadrealestate.com.au You then can subscribe for a weekly email alert or for more instantaneous information, click on the RSS feeds.

This way, you will be fully informed as to what is going on in Our Backyard.

James Worssam

Key Statistics – house and unit values
Based on the latest RP Data – Rismark Home Value Index results for the month ending September, properties are selling faster and vendors are moving less on their asking price. The average level of discounting, which measures how much negotiation is taking place in the market, fell from 7.0 percent last year to just 5.4 percent suggesting that vendors are regaining some leverage as buyer demand increases. The average number of days on market has also fallen considerably compared with last year. The average Australian house is now taking just 41 days to sell compared to 53 days last year. Source: R.P. Data Property Pulse.

Steve Ryan Photography