Excellent questions you raise and I can answer a few. This is a few different ways valuers and re agents have valued my place.This is the problem no recent comparable sales??? I had a quick look, have you physically checked out what is currently on the market at around $580K, which seems to be the higher entry level at the moment in Kiara from what I can see.
Why is your property worth $100K more? Why is there such a huge discrepancy with the agents pricing? Who consistently sells for good prices in the area? Who is aggressive? Who knows their stuff?
Tacking on 10% from last valuation may not sell the house, because it is totally dependent on where the market is today, markets can change very quickly. As you stated the market has changed.
I would not compare Bennett Springs to Kiara, it will be like chalk and cheese, just my opinion. Bennett S, new product, people pay more for this, and seems to have had excellent growth over the last couple of years.
My concern is getting the listing price correct, if you over price you will be shooting yourself in the foot, properties that stay on the market too long only go one way and that is south. You then have the vultures looking for bargain, and before you know it the low ball offers come in. Harsh as it may sound I think its just so important to get this right as is getting the right selling agent.
I sold 2 properties in Dalyellup at the time every house was the same brand new 4x2, the market had crashed, I needed to sell them both and knew it was going to be tough. I got the best agent in the area and he was hard working and super aggressive.
Strategy we used - we went around $15K below anyone in area with same product ie from $385K, I wanted $400K, so this enticed buyers into my property, at this time it was difficult to get buyers into the homes. The agent of course got an offer of $385K and then he worked it up till be got $400K. I am not sure how this would work in your area, but of course getting the right is also important.
All the best.
MTR
* by the recent ave upper quartile sales in Kiara. (This method disregards that most are 4 bedroom homes, not 5 like mine, don't have big ganes room also and up to 350sqm less land.
* another method was land size, building replacement costs inc. extra's like outdoor BBQ, outdoor sink and gas, bullnose veranda, paving, patio, reconstituated granite, tiles to ceilings and all other extras.
*another method, agent drove around whole suburb and said street and house was more superior than rest if suburb so worth x more
*another method - I almost purchased a house in Morley a couple of streets away but vendor had just accepted another offer a few days before I bought this house. It just sold a couple of months ago. Agent worked ou a percentage of recent sale price and original sale price 11 years ago and applied percentage to my property
From my local knowledge (neighbours with kids at local catholic primary school) this is sort after street and regarded as more of a Morley address. Apparently this was one of the first streets in estate to sell, which started at around 800sqm blocks whereas later stages became around 450-650sqm blocks.
I hear also Morley side is more sought after than Lockridge side.
When I moved in there was still three vacant blocks and since then there has been quality 300sqm + houses built, like 2 storey Webb & Brown Neaves so our street does have a newer feel.
A couple of my newer neighbours have upgraded here from Bennett Springs. An agent did hold your view though also that you couldn't compare the two.
There is no area specialists. I found some stats a couple of days ago that an agency located in North Beach has sold the most properties in Kiara in past quarter. That's how crazy it is!
I saw recently it costs around $400,000 to build a similiar home by Dale Alcock so to me high 5's on this size block is way too cheap.
