A rare few properties make you fall in love with them before you’ve even stepped through the door.
4 Monterey Avenue in Macquarie Hills is one of them.
4 Monterey Avenue would have to be one of the most inviting homes we’ve sold in recent months. That was reflected in how quickly it sold during what should have been a very challenging market in the middle of a global pandemic.
You know the expression, neat as a pin? Well, that’s 4 Monterey Avenue. Neat, tidy, inviting, well maintained and well presented. Move-in ready, it offered a great lifestyle for families or retirees. And as we said in the listing, it was “picture perfect from every angle”.
The property has four bedrooms with built-ins, one large family bathroom, garaged parking for one car, and a great flat block with outdoor entertaining area. A modern kitchen connects to the living areas and a clever study nook had been added, as well as a second toilet. Plus, the property looks great, with great character and street appeal.
Selling during a pandemic
Once the property hit the market we invested in a range of marketing that included a social media campaign that reached 14,893 people with a very minimal spend. In part, this success was due to the great photography of the property by photographer Britney Millen.
The timing of this sale, during a pandemic, could have been a cause for concern. However, we were fortunate that restrictions were eased slightly by the time the property was listed so that we could hold open homes. This allowed us to get many groups to see what this property had to offer.
Adhering to the restrictions, we had 30 groups inspect the home, allowing five people in the home at once.
We noticed a lot of first home buyers were interested in this property, as were downsizers. We were also lucky that, to date, the property market has held strong during the pandemic.
While the volume of new listings may have fallen over April and May, as sellers took a wait and see attitude, there were still many buyers actively looking for a property. This kept prices relatively stable and even allowed for some standout results, such as we achieved for this property.
First impressions matter
It’s no secret that in real estate first impressions matter. And that’s where the vendors of 4 Monterey Avenue were already one step ahead of the competition. They presented their property sensationally and that was really the key to this successful sale.
While the property may have lacked additional garaging or an ensuite bathroom, it was so immaculate that buyers were prepared to overlook this. That’s if they noticed at all.
The buyer feedback after open for inspections was overwhelmingly positive. We received more comments about the presentation of the property than we have in a very long time. Buyers told us they liked many of the simple things a lot of sellers might not even think about when showing a home – from the well-presented lawn to the furniture and styling inside the house and the use of plants, smells and colours.
These small details really worked to give people a great lasting impression, well beyond the open home.
Exceeding vendor expectations
Coming into the sale, the sellers had realistic expectations. They had two goals: to achieve $650,000 and to find a buyer who was prepared to take a settlement period long enough that it would allow them to find their next home.
The property was pristine and as selling agents our only concerns were about how buyers might react to the property having just one bathroom and one car space. At this price point, people usually expect an additional bathroom and double parking with a free-standing four-bedroom home.
In the end, the market liked what it saw, and this resulted in serious discussions with two different buyers who both wanted the home. Our negotiations with the buyers pushed the final price way beyond expectations to $670,000.
To put that in perspective, that’s the same price you’d typically pay for a four-bedroom home with two bathrooms and double parking on a great block in Macquarie Hills.
Above all else, the sale of this property shows that presentation matters. It can drum up interest and push the sale price above expectations.
Another factor it had going for it was that it appealed to both first home buyers and downsizers, which helped push the price up too.
We’re finding this is becoming more common. Young couples and first home buyers are increasingly willing to stretch their first home budget to $600,000 or higher. This demographic is also becoming more active in our markets, as the lifestyle appeal of Lake Macquarie and family-friendly suburbs such as Macquarie Hills continues to grow.
If you’re looking to buy or sell in Lake Macquarie contact our team today.