Sunday, 3 February 2013

Another cool website to add to your research Bookmarks

Another cool website to add to your research Bookmarks

The most important thing in property is to know when to buy and when to sell.
After all the less competition represents the best time to buy and the most competition in the market
represents the best time to sell.
Property Reporter gives you a graph to try and gauge when historically prices peaked and bottomed out.
look below
I typed in the suburb Narrabeen
and it gave me
"The median house price in Narrabeen for the past 12 months was $947,500 and the median unit price was $555,500."
Then it shows me a graph

By looking at this graph it will show the highest sales and lowest sales. Sure these are just different houses with different sale prices, it could be any expensive or cheap house on any date. BUT IS IT WORTH LOOKING INTO.
The highest price 50% of the time is paid when the market is hot.
The lowest price 50% of the time is when its not.
But as investors we want opportunity RIGHT?
So trying to find out what was the cheapest sale in an area, could direct you to a street , and also finding the most expensive house sold could again direct you to a street. Now if that street can represent good prices then other houses renovated on that street could do the same.
By looking at above graph is it just a coincidence that Feb Nov and December had the highest prices?

The website is also good at showing medium price points

How can this help. Well now you know what you need to be looking under to make good profit .
If you can find a 2 bedroom for $450,000 its worth looking at.

Now lets see how much the medium person can afford to pay for a house and how much they can't.
We need to look at average mortgage repayments and then find a house just under or around this figure .
The buyer will then be able to afford what I am selling them .

This shows you how much people in the area can afford to make in repayments.

Next you can see a list of houses SOLD and more important house that have been passed in.
These house that have been passed in should always be looked at since the sellers might be stressed.

Some houses here did not sell.?

In the reality too the site can show house that have been on the market a while and again maybe the owners will drop price ? look below see any ?

Ok so its worth trying to look through this list first instead of other websites wince you almost have a cheat sheet to lead some direction as to where a deal might be.