What is your Colac property worth?
Colac Real Estate understands the local property market
Putting your Colac property on the market at the right price is pivotal to successfully selling your home. Why? Research shows that after 21 days on the market interest in your home will decline, so it is paramount your Colac home is priced correctly from the start of your campaign.
Colac Real Estate has expert knowledge of house prices in the Colac region and gives property owners the advice they need to choose the right selling price for their Colac property for sale.
And our expertise is not limited to Colac house sales, Colac Real Estate can appraise all types of property including commercial properties and properties for sale in outlying areas of Colac and neighbouring townships.
Colac Real Estate director Sandra McConachy also advises property owners to do their own research so they can make an informed decision on the price of their home. Sandra advises home owners to:
- Compare similar homes to theirs that have sold, as well as others currently on the market.
- Take into account the actual days on the market, how long it has taken for the property to sell?
- What Contract conditions are homes being sold under? Are the sales subject to finance? How many days until Settlement – 30, 60 or 90 days?
- Compare the actual selling price with how much the home was originally on the market for. It is important to understand that buyers will loose interest in a home that is overpriced when it first goes on the market.
- Attend Open for Inspection days, and make a realistic judgement as to whether a buyer would prefer your home.
- Once you have gained all the relevant information, the next step is to determine which market you are buying/selling in. Is it a ‘Buyers Market’, ‘Sellers Market or ‘Balanced/Neutral Market’? See above for more information.
Still not sure what your property is worth? Colac Real Estate will conduct a FREE appraisal of your property, so you know how much a buyer is likely to pay for your home.
To arrange for Colac Real Estate director Sandra McConachy to appraise your property phone Sandra on 03 5231 1989 or 0409 523 540 or send an email.
1 “Buyers’ market”
Indicates that there are more properties for sale than there are buyers. In a Buyers’ Market you will need to keep your asking price very realistic, and generally within less than 10% of your lowest acceptance price. In a Buyers’ Market For Sale signs can stay on properties longer, meaning they are on the market for longer.
2 “Sellers’ market”
In a Sellers’ Market there are more buyers than homes currently on the market. A Sellers’ Market allows you to add 10% more than your comparable sale price indicates. In a Sellers’ Market property sales tend to take less time, so you will see offer/sold stickers appear on For Sale signs quickly – sometimes after days or a few short weeks.
3 “Balanced or Neutral Market”
In a Balanced or Neutral Market there is a balance between numbers of buyers and the number of properties on the market. Interest rates are generally more affordable in a Balanced Market, and there are no strong market swings.
