Melbourne’s strong auction market charges through autumn despite flood of listings
Buyers who expected to see softer real estate prices at the weekend were roundly disappointed as dozens of auction properties shot past their reserves.
Some buyers had high hopes that the market pendulum would swing a little in their favour because of the large volume of auctions being held on the last two weekends in May. Read more here
Melbourne unit prices: Altona’s median now tops Richmond, Doncaster, Northcote
The bayside suburb has emerged as a pocket of strong price growth, to the point now that buyers priced out of Altona could try Richmond, Brunswick, Doncaster or even Northcote. Buyers’ advocate Miriam Sandkuhler, of Property Mavens, said heavy supply levels of apartments and units in Richmond affected its median and selling prices. Read Miriams comments here
High-end properties passing in as number of Melbourne auctions increases
Across town, four bidders competed for an older-style house at 11 Kerferd Street, Coburg. It was quoted by Nelson Alexander at $750,000 to $800,000 and received an opening offer of $780,000 before being declared on the market at $830,000.
The Coburg house was bought on behalf of an investor for $941,000 by buyers’ advocate Miriam Sandkuhler, from Property Mavens. More than 35 bids were placed by the four bidders. The article can be read here
Victoria toughens underquoting penalties as NSW considers options
" Licensed buyer’s advocate Miriam Sandkuhler, who led a Change.org campaign for stronger underquoting laws, expects the Victorian changes to help the underquoting issue but does not think the new laws go far enough" The article can be read here
Lack of inner Melbourne Stock sees over $3 million paid for knockdown in Kew
“First home buyers are keen to purchase as soon as possible as was evident in Sunshine today, as further stamp duty breaks from July 1, 2017 will most likely just drive prices up further,” Ms Sandkuhler said. The article can be read here
Buyer's advocates in spotlight as property market heats up
Home hunters are turning to buyer’s advocates to help them research properties, bid at auction and try to make good investment decisions in a hot market.
But concerns are spreading that some operators have conflicts of interest or charge for information that buyers could access themselves online.
Licensed buyer’s advocates such as Property Mavens chief executive Miriam Sandkuhler warn of operators who call themselves “buyer managers” but are not acting in buyers’ interests. Read the full article here.
Melbourne auction results: Fierce bidding pushes Glen Iris deceased estate $1.2m over reserve
Weekend auction update article includes an auction report for 13 Tucker Street, West Footscray which was secured by Property Mavens for Investor clients.
The article can be read here
Off-the-plan buyers seeing losses and lacklustre growth: BIS Oxford Economics
More than 50 per cent of new apartments bought and re-sold in the five years to 2016 in Melbourne sold at a loss, research shows.
Miriam's comments feature in the Domain article 'the rule of thumb that property prices increase due to land value, not building value, holds true.' Miriam is also quoted “When investors buy off the plan, they are paying a premium which includes the developer’s profit,” Ms Sandkuhler said.
The full article can be read here.
Glen Huntly, Templestowe Lower among Melbourne’s worst suburbs for house price quoting: RealAs
Glen Huntly has been revealed as Victoria’s capital of inaccurate house price quoting by new figures.
Data from property value predictor RealAs reveals homes in the southeastern suburb sold for an average of 20.9 per cent more than their quoted prices at auction in the year to February.
Miriam discusses underquoting and comments "compelling vendors to publish reserve prices at the start of an auction campaign was the simplest way to stifle the practice."
The full article can be read here
Experts offer their top tips on how to beat the competition at auction
Competition for property is red hot in Melbourne with strong clearance rates and droves of frustrated bidders missing out each week.
Good planning can help luckless buyers secure the home they are after, according to industry experts who have offered their tips on how to win at auction.
Miriam's comments and tips can be read here in the full article.
First-home buyers win in Burnley as eight bidders compete for Reservoir property under the hammer
Miriam comments in the auction wrap on realestate.com.au
'EIGHT bidders converged on this two-bedroom villa unit, which sold about $130,000 above reserve, reported Property Mavens chief executive Miriam Sandkuhler. She said about eighty people attended the auction, including four buyers’ agents and the property was on the market at $450,000 after an opening bid of $390,000.'
The full article can be read here
Interview with Dream.Believe.Create
Miriam's interview with Dream.Believe.Create for International Women's Day is up online.
The interview touches on Miriam's background, the actions that have led to Property Mavens being the business it is today and what the future holds.
The interview can be read here.
3AW Drive: Tom Elliott podcasts
Miriam discusses the new underquoting laws which are due to come into effect May 1st 2017 with Tom Elliott of 3AW.
Miriam discusses whether the changes which require the advertised price to be either a single figure, or a price range of not more than 10 per cent will make a difference
Recording starts at 1 hour:15 minutes, select the 3AW Drive with Tom Elliott, March 8 podcast. Listen to the recording here
Kevin Turner's Real Estate Talk.com.au: Podcast
Divorce later in life, next steps new directions
Miriam features in Retiree Magazine, sharing her tips on how to re-establish yourself after divorce.
What is often lacking for people once the family home has been sold, and funds have been divided, is guidance re buying their next home and providing security for themselves and their family into the future.
Read the full article here.
Bankwest under fire for lending changes
Read my comments to The Australian Financial Review about the new lending risks for investors here.
Bankwest's axing of negative gearing benefits for new - and some existing - investor housing loans is being used by Australia and New Zealand Banking Group and National Australia Bank as a marketing opportunity to attract disaffected borrowers looking for alternatives.
Miriam comments to The Australian Financial Review "This sudden change is brutal. If Bankwest reviews approved loans in their pipeline then the implications to investors are substantial and far reaching."
Are Buyer's agents worth the money?
Read Miriam's comments in The Australian Financial Review, Miriam discusses how the term "buyer's agent" has been abused by property spruikers or project marketers "in disguise."
A Property Mavens case study also features in the article. A past client comments "We're just coming up to our yearly review and we're pretty comfortable with our investment."
Read the full article including Miriam's comments and case study here.
How to become a property millionaire
Property investment is often touted as the key to building real and lasting wealth, but how easy is it to get started?
In today’s property market, owning even one home can seem like a fantasy for many of us, however with some planning, saving and know-how, property investment to build wealth can be achieved.
Read Miriam's comments about how "One size doesn't fit all" here
Second time’s a charm for Melbourne property sellers
Read Miriam's comments featured in Domain regarding compromised properties struggling to sell.
The full article can be read here
Newport, Glenroy, Reservoir picked among the best bets for property investors in 2017
Property Mavens chief executive Miriam Sandkuhler said investors should “exercise extreme caution” around inner-Melbourne’s “small, poorly designed” units which lacked scarcity value.
Read the full article including Miriam's recommendations for suburbs to invest in here
Auction pricing system a challenge for emotional potential buyers
Property Mavens CEO Miriam Sandkuhler discusses underquoting and new laws due to come into effect shortly to try and crackdown on the practice.
“If buyers knew from the start of the sales campaign what the vendor reserve was, this would level the playing field, and any price above that would be down to market forces,” Ms Sandkuhler says.