FVG provides you with ‘The Top 9 Tips In Getting A Great Apartment Valuation’
1. Be very specific and actually measure your apartment area and associated areas
One of the most important aspects of determining a value of an apartment is the size of the apartment itself, the size of associated areas such as balcony/terrace area and storage cage, if applicable. In short, the valuer assesses value of the apartment on these units of comparison. If there is a variance between the actual size and perhaps what the valuer measures, you have an ideal point to commence any discussion as to the assessed value. This is critically important.
2. Recent Sales Evidence
If you know the sale prices achieved of any recent property sales within your specific development, within the last 3 months, or even the last 6 months, have that information available for the property valuer and provide them with a copy of details of the sale.
One of the factors which underlines the Melbourne property market regardless of sub market category, is the commentary and headline grabs that support a particular agenda. In most cases, it is a journalist that is stuck providing any true and accurate source of reference and hence sensationalises a headline and then grabs partial information and data to provide very general information to the property participant.
As a highly qualified professional with some 25 years of experience in the property industry, spanning from commercial to residential, from sales to development, from finance to investor, I feel that I have a sense of purpose of reporting to the market ‘as it is’, no hiding. Yes, perhaps general information, but in no way serving a purpose, of which, is usually to sell product or support the efforts of a group of individuals.
The market has turned, all the pundits are selling the virtues of a bull market in 2013, and the REIV is complimenting this fact by providing their weekly results that suggest both an increase in the number of properties sold coupled with sales rates in the order of 70%.
If you want to highlight this bull market further, you would be saying that we have the lowest interest rates in over 40 years, a correlation as to the question of ‘cost to rent’ versus ‘cost to buy’, a preceding decrease in levels of value in 2012 of some 0-20% across the board, and maybe more in some localities and market segments.
Yes, the stars, moon and planets are all aligned, but are they? I would say that most private investors are still sitting on their hands.
Undoubtedly, the number one question that is asked of me is why do you still undertake property valuations and why has your property valuation service maintained its momentum in this environment when there is so much information for consumers on the Internet?
The simple and logical answer is that our property valuation services have been offered to the market place since 1996, when the company commenced operations.
Our property valuation services primarily were offered to a traditional client base of major and secondary institutional clients, inclusive of ANZ Bank, Westpac, Bank West, St. George Bank, Bank of Melbourne, Macquarie Bank, Bendigo Bank and many, many more, as well as the likes of Aussie Home Loans, RAMS, ING, etc.
Real estate industry services include real estate property valuations, purchasing and / or selling of a property (by auction or private treaty), renting or managing real estate property. The property may be residential, commercial, industrial, retail, etc. There are certain factors that need to be considered during any procedure regarding the property.
Dealing with a property matter is many times complicated and confusing, since people do not know much of the in and outs of the industry, and hardly trust any agency for the property work get done. Here comes the need for a reliable and experienced real estate property service provider and FVG Property could be the best answer you get!