The Price of Emotions The shifting active trend towards acquiring land plots through auctions for the purpose of obtaining preferential mortgages for home construction has highlighted how difficult it has become to close an investment-attractive deal for purchasing a plot for the aforementioned goal. A striking case was observed during the auction for land plots in the Sontsovo district of Moscow last year. In the 20s of December, four plots with residential development rights were being sold. The auction organizer offered plots of 12 and 16 acres, with the initial valuation based on the cadastral value of the land set at 700,000 rubles per acre, while the market value was 2.5 million rubles per acre. The auctions ensured attendance from 40 to 80 potential buyers. The highest number of participants was recorded for a corner plot, which allowed for effective land division by splitting larger plots into smaller ones. The starting price for this plot was 9.6 million rubles, but the actual purchase price reached 55 million rubles, despite a market value of 25 million rubles. Our astonishment knew no bounds when the price soared to this level. We were even more surprised when we learned the name of the buyer. This remarkable individual continued to amaze us with emotional purchases throughout the second half of 2023. For more information on the actions we are taking to enable effective purchases for such objectives, you can read other notes.
Yaroslavna Kryukova’s Post
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🏚 Empty Homes, Full Potential: How Auctions Can Help You Unlock Value 🏡💰 Do you have an empty home sitting unused? Whether it’s a second property, inherited estate, or a long-vacant home, you could be sitting on untapped value. At The Auction Experts, we specialise in turning empty properties into sold assets – fast, secure, and hassle-free. Why Let an Empty Home Sit When It Could Be Sold? Vacant homes can become a financial burden, with ongoing maintenance, property taxes, and the risk of damage. But there’s a way to quickly sell your property to motivated buyers, including investors looking for their next project. Auctions are the perfect solution for selling empty homes Turn That Empty Home Into a Sold Home Today! If you have an empty property and are ready to sell, let me show you how our auction services can help. Contact me today for a free consultation and find out how to unlock the full potential of your empty home. 📅 Register Now: https://lnkd.in/emPHg4RN M: +44 (0) 7783 738372 E: cherie@theauctionexperts.co.uk
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Click below to find out why you need to work with the best and how it makes a difference on your final price. #lizetasold #soldbylizeta #lizetarasanurealestate #torontorealestate #realestate #toronto #durham #pickeringrealestate #torontorealtor #durhamrealestate #selling #buying #interiordesign #remaxrouge
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We’re making the news this week as our managing director James Emson features in a Q&A session for Property Auctions News. In a comprehensive interview James covered a host of topics, including price sensitive market conditions, forecasts, commercial sales, both the commercial and residential markets and much more… Looking ahead, he said: “I think for the remainder of 2024 the market will be affected by interest rates, especially the buy to let market. “With regards to owner-occupied stock and the unusual lots we deal with, there is still strong interest. Properties that need refurbishment do have strong interest – especially as building costs both for labour and materials seem to be lower relative to the past three years. “We have over the past few years seen a growing trend in private occupiers and first time buyers which, for the residential market, will grow over the remainder of this year and into the next if the current trends continue. “We have also seen a lot of first time investors coming into the market in the first quarter of the year and, as we market our latest auction, this seems to be continuing.” Property Auctions News is a publication launched in 2022 that seeks to keep buyers, sellers and professionals updated with what’s new and interesting in the industry. Read the full interview: https://lnkd.in/e89APtp7 📅 Don’t forget, our next auction, the fourth of eight this year, ends on 12 June, with bidding live 48 hours before. Entries close on 20 May, with the catalogue available from 24 May. More details: https://lnkd.in/dFGYBxzE #auction #propertyauction #landauction #commercialproperty #residentialproperty #lots #entries #catalogue #refurbishment
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🏠 Navigating the Property Auction Process: A Quick Guide for Buyers 🏠 Over the past month or so, one of the themes of our posts has been property auctions and we’ve aimed to demonstrate how we, as architects, can help. In today’s post we wanted to look ahead to the auction day itself, and in particular give you some tips to help you navigate the auction process. Property auctions can be fast-paced, lasting just a few minutes from the moment the bidding begins. At Saloria Architects, we understand how crucial it is for you to react quickly and stay grounded and most importantly within your budget. Many buyers get swept up in the excitement, helping to push bids far beyond the original guide price, often losing sight of whether the deal remains lucrative. In order to help prevent you falling into this position we wanted to share with you a few top tips, starting with remember there’s more to buying at auction than just being the winning bidder. Did you know for example that most properties sold at auction come with hidden costs? So you’ll need to account for: - Auctioneer fees - Seller’s legal costs - Mortgage and valuation charges - Personal costs for conveyancing - Stamp Duty (the necessary evil) These additional costs can quickly add up, turning what looked like a fantastic deal into something far less attractive. At Saloria Architects, our team and consultants can help you prepare, offering guidance to ensure you're fully informed before the auction starts. Get in touch with us today for professional support and peace of mind in your property auction journey. Call 020 8451 7833 or click here https://lnkd.in/eTS8Fxxv to send us a message. #PropertyAuctions #RealEstateAdvice #AuctionTips #SaloriaArchitects #HiddenCosts #Conveyancing #ArchitectureAndDesign #StampDuty
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October Property Auction Market Update https://lnkd.in/eaVU8hvq Auction Sales Market Booming With the slow summer period well behind us, what happened at the residential property auctions in September 2024? In this monthly update we will take a closer look at current trends in sales volumes, percentages sold, amounts raised and other interesting trends in the market. Click on the link above to read the article in full.
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October Property Auction Market Update https://lnkd.in/eaVU8hvq Auction Sales Market Booming With the slow summer period well behind us, what happened at the residential property auctions in September 2024? In this monthly update we will take a closer look at current trends in sales volumes, percentages sold, amounts raised and other interesting trends in the market. Click on the link above to read the article in full.
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October Property Auction Market Update https://lnkd.in/esPNqZD5 Auction Sales Market Booming With the slow summer period well behind us, what happened at the residential property auctions in September 2024? In this monthly update we will take a closer look at current trends in sales volumes, percentages sold, amounts raised and other interesting trends in the market. Click on the link above to read the article in full.
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October Property Auction Market Update https://lnkd.in/eaVU8hvq Auction Sales Market Booming With the slow summer period well behind us, what happened at the residential property auctions in September 2024? In this monthly update we will take a closer look at current trends in sales volumes, percentages sold, amounts raised and other interesting trends in the market. Click on the link above to read the article in full.
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“What will this property sell for!?” Price is a common frustration for buyers. Often, there’s no price advertised or other times, the price guide is grossly inaccurate. One of the services we offer is called Market Price Appraisal. Either as part of a full-service package, or available as one-off service, our Price Appraisal allow buyers to approach a private sale negotiation, or an Auction with more clarity and confidence. Here’s an example of pricing for a unit in the western suburbs that we recently helped a client on: - Sales Agent advertised price guide prior to Auction $650,000 - Valuation on rates notice (from Valuer-General) $750,000 - Our Predicted Auction Sale Price $860,000 - Actual sale price at Auction $889,000 The first clue that the Agents price guide was very low, is that it was $100,000 under the valuation from the Office of the Valuer-General. Typically, their valuations are at, or under the actual price a property will fetch on the market. We do all the standard price appraisal research to determine a fair market price, but even with this data it’s difficult to predict what a property can sell for at Auction when some buyers become competitive or bid emotionally. Desperation to secure something can also be a factor when there are low levels of housing supply. Local knowledge and gut instinct on THAT particular property are key elements of a Buyers Agent price estimate. Our prediction was within 3%. The agents price guide was 36% under the actual sale price! Crazy… Online price estimating tools were all over the place, from $500k to 1 million, and with ranges of $300k sometimes. Moral of the story; get independent, professional help when trying to estimate price. Without accurate price estimates, you may: - Be wasting a lot of time and energy - Paying for Building Inspections when you don’t have a real shot at the Auction - Over-offer during private sale negotiations, where everyone else’s offers are hidden from you
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We know that buying or selling property can be a significant step and sometimes overwhelming experience. Our mission is to make this journey as smooth and informed as possible for you. Understanding the different methods of owning property available in Perth is crucial, as it empowers you to make informed decisions and choose the best path for your property needs. ➡️ Private treaty This is the most common method, where the seller sets a price and negotiates directly with potential buyers. It offers flexibility and control over the negotiation process, allowing you to achieve the best outcome. ➡️ Set date sale A unique approach where the property is marketed for a specific period, with all offers submitted by a set date. This method creates a sense of urgency and competition, often resulting in higher offers and a faster sale. ➡️ Auction An exciting and transparent way to buy or sell property! Auctions are public, and the highest bid wins provided it meets the reserve price. This method can lead to a quick sale and is ideal for those who want a definitive outcome. ➡️ Online auction Online auctions allow buyers to place bids from anywhere. It's perfect for those who prefer a digital approach and can widen the pool of potential buyers. Each path has its advantages, so it's crucial to choose the one that best fits your needs. At WA Settlement Services, we're committed to providing you with expert advice and support throughout your property journey. Have questions or need personalised advice? Reach out to us today, and let's make your property transaction smooth and uncomplicated. Visit www.wasettlements.com.au to book your free consultation. . . . #perthrealestate #propertysale #buyproperty #sellproperty #propertyauction #realestateadvice #homebuying #houseselling #waproperty
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