Researching Property Values
Researching Property Values - Tips for online resources
Location – Location – Location! When people talk about building or buying in different suburbs securing the ‘right’ location is important. Of course, as the home owner you’ll want to find a great area to put down your roots, but it’s also important to keep on eye on re-sale considerations. As a buyer or seller understanding the local market, current property values, it’s localised quirks, and available opportunities is critical to getting the best outcomes!
There are many tools and strategies you can use to keep on top of the market and place yourself in a better position as a buyer or seller. We’ve put together a list of available tools. It isn’t exhaustive but will get you thinking and researching!
v Real Estate Professionals – Finding a suitable real estate professional to help with a purchase or sale is a wise strategy. A qualified and experienced agent will help educate you on local market conditions and determine if a property is going to meet your needs in the short or long term. As a seller, the advice from an agent is invaluable as you try to find the right price range, marketing strategy, and then advertise the property against any local competition. After all the agent is your “business partner” during the period you are buying or selling a property.
v Real Estate Websites – The modern real estate website is more than just a listing page. Most sites provide the usual ‘for sale’ listings sorted in price, location, and feature categories in addition to a range of valuable research material on individual homes, suburbs, and towns. Both buyer and seller can build an amazing stash of information on individual properties and locations to make price, bidding, and marketing decisions a lot easier. A lot of the available information is free but some sites allow you to purchase more specific and indepth information and property reports. Some of the more popular sites include:
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In addition, most real estate agencies have their own comprehensive websites with listings and a range of localised market information. Sites like www.raywhite.com or www.century21.com.au or www.colliers.com.au etc etc are just some examples.
v Valuers – The days when real estate valuers were these mystery people that banks sent out to value homes as part of property transactions are long gone. Modern valuation firms actively engage with the real estate industry and broader community and provide services to individuals, company’s, and lenders. If you’re looking to buy or sell a property and need guidance on its value in the market, and how it sits against similar properties, then getting a valuation report will provide key information to help making price decisions and perhaps negotiations a lot easier. In addition, most valuation firms publish regular market updates for individual areas, or in the case of the larger firms they may have reports for whole regions and states. One example of a publication by an Australian valuation firm is the Property Report by Herron Todd White valuers. The report covers homes, units, and commercial propeties in all states of Australia. It’s an easy read and is written for the consumer with minimal industry jargon. You can check it out at www.htw.com.au/month-in-review
We’ve only just touched on a few options in our blog with the intent being to get you thinking about the range of information available to help with a purchase or sale. When it comes to home building talk to Scott, Bonni and the team at Highfields Builder so you get the right information when planning a new home. The team at Highfields Builder are ready to support you and deliver a quality outcome on time and on budget. It’s the Highfields Builder way!
We’re your local home building specialists across Toowoomba and nearby regions and build quality, energy efficient and cost-effective homes for owner occupation or investment purposes. Check us out at www.highfieldsbuilder.com.au and LIKE us on Facebook @ www.facebook.com/highfieldsbuilder
This publication series covers home building, real estate, home finance and legal related issues in a general way. It is intended for general information purposes only and should not be regarded as legal advice. Highfields Builder Pty Ltd recommends that professional legal and/or financial advice should be obtained before taking any action on the basis of the general information presented in this publication.
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DISCLAIMER
This article may include information on home building, real estate, home finance and legal related issues in a general way. It is intended for general information purposes only and should not be regarded as legal advice. Highfields Builder Pty Ltd recommends that professional legal and financial advice should be obtained before taking any action on the basis of the general information presented in this publication.
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