This blog post outlines important features of a declining property market. An understanding of the current market dynamics will provide property buyers with the opportunity:   to access more quality properties, face less competition, to negotiate a lower buying price. Contrary to popular belief, there is plenty of high-quality property on the market at the moment. The confusion arises because many sellers are now choosing to sell their properties off-market rather than auction.

Melbourne’s softening real estate market has put the spotlight on Melbourne’s obsession with Auctions. Unlike the rest of the world, the default position for Melbourne’s real estate agents is to sell the property by Auction. However, there is often a huge difference in selling price between auctioning a property with a real estate agent and using a Vendors Advocate to sell a property privately.

As we publish this blog post, the first episode of The Block has just screened. As a result, we’re going to take another look at these St Kilda apartments given that the additional information now available. We first wrote about the transformation taking place at Gatwick Hotel as a result of The Block TV show back in April. In that article, we tipped an average apartment price of above $2.25 million. JMAC are both buyers advocates and vendor advocates.

The St Kilda foreshore is set for a massive residential development in 2019 with plans for up to 140 luxury apartments being built on the site currently occupied by the Novotel St Kilda. This new development is one of several St Kilda developments that will push St Kilda and the surrounding bayside suburbs of Elwood, West St Kilda and Middle Park into one of the most desirable places to live in Melbourne.

Property prices across Melbourne have weakened for an 8th consecutive month, putting an end to the 5-year property boom. So how should you respond to such news if you are planning to sell your property? Jim McDonald, the owner of JMAC Vendor Advocacy, doesn’t mince his words: Vendors need to be very careful. These are the exact market conditions we’ve been warning about for some time.

[UPDATED AUGUST 6, 2018] Channel Nine confirmed that it had purchased The Gatwick hotel in March 2017. However, it wasn’t until July 2017 that it became clear that the purchase price was close to $10 million dollars. As one of Melbourne’s top Buyers and Vendors Advocates, we can’t help but try and work out how much money will be invested in the refurbishment of the apartments.

Brighton East is peeking out from Brighton’s shadow and property prices are attractive. It has an emblematic colour – and it’s not blue but green. Large swathes of parkland give it decidedly bucolic character and make it a magnet for families. In the 19th century, it was the home of the market gardens and farms, and a whisper of that character remains.

Melbourne’s cooling property market has put the heat on real estate agents and seen vendor advocacy usage rates soar. In this post, we’ll explain why many sellers are questioning the relationship with real estate agents, and choose to use vendor advocates instead. You may be thinking that a vendor advocate is just another costly middleman within a costly process.

It’s a lot easier to buy a property at below market price than it is sell a property at above market price. It’s also possible to identify properties that are likely to increase in value at a higher rate than the average. JMAC knows how long a property has been on the market, or if  a property is in distress. Of course we aim to get the best possible property in the best possible position. We can very accurately advise our clients the worth of a property.