In the Market – Update from Steve Lane

Steve Lane - Manager - Coolum Beach Real Estate

Steve Lane – Manager – Coolum Beach Real Estate

Steve Lane is the Sales Manager and one of Coolum’s most respected property agents.  Today we asked Steve how the market was going. Below is what Steve had to say about the local area:

What is the flavor of the month? 

Downsizers with potential to renovate in close proximity to the beach around the $500,000 price range.

What is top of mind for potential vendors at the first meeting?
How much can I get is always going to be high on their list, but after that it comes down to am I comfortable having this person sell my home and representing me and my property.

Anything new you’ve realized in the latter half of last year?

The market really has moved in the Central Coolum area with a real shortage of available properties.

What do you expect for the first half of 2015?

Regardless of external factors, the Coolum area seems to be growing in popularity with people being attracted to the slower pace and sense of community and of course the natural beauty of the area.

Auction or price in this market?

I am increasingly seeing situations where Auction is the best way for vendors to ensure they we are seeing a range of mixed prices for similar properties, Auction allow vendors to remove ceiling on the sale price.

What is top of the list for investors?

Return and holding costs have always been important, but smart investors are really being more specific about prime locations and their potential for strong growth in the mid to long term.

Your suggestion to those buying long term?

It really hasn’t changed much over the years. so many people choose Coolum for the relaxed coastal lifestyle and that means leaving the car in the garage and walking to the beach and cafes.
North east aspect is another very desirable feature, who doesn’t love soaking up a bit of morning and winter sun.

Days on market for your office?

It really varies from property to property. A well positioned property with desirable features can sell in 3-4 weeks however some of our properties do take a bit longer because of the limited demand and our commitment to get a premium price for our our vendor.

Hot spot of the coast to watch with interest?

I believe that Coolum Hill is under valued and represents great value compared with other locations like Peregian and Sunshine Beach. The views from some of these properties are amazing and they are so close to the bays and Surf Club.

When achieving their price is of utmost importance, vendors should?

Put in the time and effort to the presentation of the property and where possible minimise any weaknesses that will deter buyers. Seek advice from an agent that you can relate to and actually make sense of how it all works.

What should buyers pay attention to when seeking value for money?

Have your list of what is really important to you and don’t be surprised to have some competition from other buyers. Saving money can be a false economy if you compromise too much on what you really want.
Suggested tips for first home buyers?

Do your research, talk to the neighbours, visit the house at different times of the day and be prepared to compromise. Don’t put yourself under financial pressure. It’s not about having the perfect home. You can always make improvements or upgrade.

What is the big buyer attraction of the moment?

Location remains the strongest factor but stylish comfortable outdoor living is always a big attraction and create a very strong emotional appeal for buyers..