Tag Archives: Fairfield market

Buying Fairfield real estate

Professionals real estateIf you’re looking to buy in Fairfield, but want to make sure the home you’re buying will leave you with a profit at resale if you need to sell in the next five years, it can be a very tough decision.  Do you go for the perfect house, the worst house in a good street, the ‘renovator’s delight’, or a new home?  These days, with more and more Generation Y’ers choosing to rent rather than make the leap into first home ownership, the property landscape is changing.  While there are still buyers for every price bracket, the days of young couples competing for doer-uppers is no longer a guarantee.

So how do you buy, secure in the knowledge that your home will be able to make you a profit when it comes time to sell?  If you’re tossing up between the worst house in the best street or your dream home in a worse spot, it can be really tricky.  First of all, there are no guarantees.  But a general rule of thumb, which you may have heard once or twice before, is ‘Location Location Location’.  Sacrificing a little on creature comforts to be in a great area can certainly ensure you turn a tidy profit, providing the house has potential.

Generally sticking close to good schools, being in a convenient location to public transport, and not having to drive for miles to the nearest shopping centre will all work in your favour.  As a buyer, it should be quite easy to think like a buyer – if you want your kids to go to a good school, the chances are so will others.  If you don’t want to fight traffic every morning to get to work, you’re probably not alone.  A pretty and convenient location will generally do well on the market, and if you can make small improvements to the house, chances are you won’t lose on the return.

Unfortunately, real estate is a dynamic market, and there are no guarantees.  It’s important to understand local market trends, and to be aware of the recent sales history of different areas.  We recommend coming in and chatting to our Professionals Fairfield Real Estate team before making your decision, as we can help you through the intricacies of our local Fairfield market, and ensure you know everything you need to know before diving in.

If you’re thinking of buying in Fairfield, and want to make the best decision for your family as well as your hip pocket, come and chat with our team at Professionals Fairfield Real Estate today.

What to expect from our Fairfield real estate market over Christmas

real estate market 1It’s been exciting over the past few weeks to see more buyers viewing Fairfield homes and an increase in buyer enquiry for our marketed properties.  Many people mistakenly associate the Christmas season with a drop off in the real estate market, but in Fairfield we’re happy to say this is definitely not the case.  In fact, we expect to see an increasingly must Fairfield real estate market from now until the end of summer.

So why the heightened interest in Fairfield real estate over summer?

Our discussions with buyers generally reveal two distinct reasons why enquiry and inspection numbers improve during this period.  The first is that families like to buy and settle in to their new home before the start of the new school year.  With the new school year beginning on January 28, 2014, we can be sure to see lots of families on the lookout for their dream home between now and then.

The second common reason we hear is that families are able to make more time to search for a new home over summer, as they often take time off work and don’t have to worry about school drops offs and pick-ups.  With more time on their hands they’re able to focus on house hunting, and get serious about putting pen to paper.

If you’re thinking of selling your Fairfield home, now is definitely a great time.  With more families on the look-out, and many wanting to settle before the new school year, we’re expecting this to be a season made for Fairfield real estate sellers!  If you’re thinking of selling, please contact our friendly team at Professionals Fairfield Real Estate.

Making a great first impression

Close up of a welcome mat in front of an inviting houseIn a competitive Fairfield real estate market, it’s really important that we give the right advice to our vendors.  After all, what’s the point in assigning an agent to sell your most valuable asset if they’re not going to help you achieve the best price possible?  Our team at Professionals Fairfield Real Estate take our responsibility very seriously, and pride ourselves on our knowledge of our local Fairfield real estate market and our ability to share the tips that work – the little things you can do to help your home sell faster, and for the maximum possible sale price.

When marketing a home in a competitive Fairfield market, the selling process begins long before the front door swings open at the first open house.  We all know the importance of making a good first impression.  Well the same is true for your home.  When buyers search for a home, there are two places they’ll often go before making it to an inspection, and it’s typically not to an agent.  They will usually begin their search online, and then if they’re not currently living too far away, they may do a drive-by.  Rather than worrying about what people are going to think, why not view these pre-inspection visits as opportunities to impress?

Making the most of your home’s street appeal is essential, as this is could make or break a sneaky drive-by visit.  You’ll need to decide how much effort is required to make your home appear inviting from the street – this could be anything from mowing the lawns, edging the garden beds and pulling out a few stray weeds, to a weekend working bee with all your family and friends.  Our advice is to do what you can.  At the very least your garden should be tidy, mown and edged.  Your house number should be clearly visible, and all fencing in good repair.  Make sure spider webs are swept away and overgrown trees and shrubs and trimmed back to let the light in.

Now onto the big one – how your Fairfield property will be appearing on the internet.  It’s true, a picture says a thousand words, so it’s really important that the pictures we put on the internet to show off your property actually do show it off.  The last thing buyers want to see when they check out an online listing is the owners mess strewn across each room.  A good declutter, a clean and tidy, and minor repairs are all that’s required to prevent your home from scaring away potential buyers.  There’s no need to spend lots of dollars on repairs, but if the curtains are torn, wardrobe doors have fallen off their tracks or light fittings aren’t looking their best, get these looking sharp before the photographer starts snapping.

For more tips on how to present your Fairfield home for sale, please contact our friendly team at Professionals Fairfield Real Estate.

What’s happening to the NSW property market?

FactsYou may have heard the news, house prices are going up… no wait, they’ve gone up… no, apparently they’re about to come crashing down?  It’s difficult to keep up with real estate market trends, particularly when headline writers are so keen to jump on board with whatever is most likely to attract readers, rather than actually deal in facts and figures.

So here it is, the real story.

  • Yes, the median Sydney residential price has gone up over the last 10 years.  However, it has increased at an average rate of just over 2.5% per year, which is almost the same as the average annual inflation rate over the same period.  When you look at it that way, Sydney prices haven’t actually increased at all in real terms over the last decade.
  • While the number of properties selling in NSW seems to be on the rise, they’re still well below (20% below in fact) the figures we saw in the boom period between 1998 and 2003.
  • Rental yields are relatively high, currently sitting at 4.61% for houses and 5.08% for units.  The last time we saw a boom in Sydney, rental yields dropped below 2.5%.
  • Generally boom periods are marked by an over supply of residential homes.  1998-2003 saw around 40% more new constructions; whereas, over the past 10 years new dwelling constructions have been on a steady decline.

While the future is unknown, it seems the NSW property market is not about to come crashing down any time soon.  If you’re thinking of selling your Fairfield home, now is a great time to come and see our Professionals Fairfield Real Estate team for a no obligation chat.