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August Market Wrap

The winter weather certainly didn’t cool enthusiasm for local real estate, with August welcoming one of the highest real estate prices ever secured for a home in McCauley’s Beach Estate.

It’s no wonder the new owners fell in love with 10 Hoffman St, Thirroul, which sold for $1.87million. With 5 bedrooms and a pool on 760m2, just a moments’ walk from the beach, it’s one of those uniquely luxurious homes that make anyone feel wonderful as soon as stepping inside.

Equally exciting was the journey to selling 17 Somerville St in Bulli, which secured another record result for prices in that street.

The 803 m2 block has beautiful views of the ocean and inspired the curiosity of investors and families alike. The size and zoning offered investors the potential to sub-divide, whereas many others saw the block as an opportunity to build a ‘forever’ home.

A different group of buyers turned out this month for a set of 3-bedroom Bulli properties at 3 Beattie St and 16b Waterloo St.

Among those interested to buy these homes, there were stories of trying and trying again to break into the market. They shared just some of the highs and lows that come with that experience. So, you can imagine the excitement felt by all involved when the deals were sealed on these homes for $845,000 and $870,000 respectively.

It brings me to the point, that everyone is so unique on their hunt for the perfect property for them. It’s one of the biggest commitments you can make, so naturally, emotions run high and it can seem hard to know what the best choice is for your money.

One theme running through many negotiations this month has been that the terms of sale has become almost as important as price. A longer or shorter settlement for some may be the clincher over extra dollars made to the offer. Have you found that in your experience?

From my perspective, it’s nice to be able to guide buyers and sellers through that process of coming to an agreement that is good for both, given the hugely important occasion buying and selling a property is for most people.

Now, as we turn to Spring, one of the busier seasons for real estate, do let me know if you think I can help you with that journey.

Kane

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August Market Wrap