Living in the Randburg property area, and you are blessed to have been able to update, remodel and improve your Randburg property way beyond what you have needed to do and certainly for the area in which you live, chances are that you have one of the best homes in the area and may just have overcapitalised, just a little. And you should consider yourself blessed to have had the opportunity to enjoy very finest features and special touches in any area within the Randburg property market.
Let me give you an example and I have a few…
In Sundowner in early 2022, I did a valuation on the most magnificent property in Sundowner. Honestly, it has everything and in early 2022 there were already 18 solar panels on the roof with the most amazing inverter. Great security in fact everything you can imagine with high boundary walls. This home was and still is magnificent. Double volume entrance the most beautiful kitchen and open plan living areas, 4 bedrooms and the main and the main en-suite were absolutely gorgeous. I could go on but trust me this property was one of the very finest in Sundowner. But the average sales price was say lower than the R4,500,000 that I valued the property at. Honestly, this property held then and now, the value to sustain a sale of R4,500,000. Every inch of the home was magnificent.
What does it overcapitalised mean?
Yes, I am going to Investopedia for this one and a search on Google will find many answers, but when a property has been overcapitalised it means “that the property’s market value is less than the actual capitalised value”.
What are the odds of realizing an overcapitalised value
There can be no doubt that there is a lid for every pot. In the current market, a great number of sellers have become despondent with how the Randburg property market has performed. But I am firmly of the belief that there will be cream rising to the top in every suburb.
But, and I will say it again, selling your home could take just a little longer and I don’t do this on my own. I have a team to support me who all have buyers for homes just like yours in Randburg.
But, and there is a but…
When a property that has been overcapitalised is not in good condition, the paintwork is not quite 100% or the windows have the odd bit of rust or the front door needs a touch of varnish or the remediated damp needs to be repainted, remember if you want top dollar or Rand for your home and we can see there is value in your property no matter what the area is, chances are the buyers we bring through will notice every little thing that is out of place or things that need repair.
But to get the best value your Randburg property must be perfect
The tiniest little thing must be taken care of. The property should look flawless. We are selling a R3,500,000 home in Fontainebleau or a R4,500,000 home in Sundowner, or a R7,500,000 mansion in Quellerina, if you want top dollar it needs to look like top dollar.
Need Randburg property valuation or CMA
A Comparative Market Analysis or CMA is what we call the process we go through to arrive at the numbers. But, often and I am being honest, you can pull property reports till the cows come home but your home is just worth more, and way more than the surrounding homes in your area or the surrounding areas. I will often go to “What price did you have in mind”. You will know in rare situations like this what you have done to get the property to the value you consider to be fair. I will work from there. And there are some wonderful strategies to implement to ensure your property stands out and is showcased for the value that you offer potential buyers.
How long will it take to sell an overcapitalised Randburg property?
It’s common sense and it holds true for the Randburg property market. If the area average in Fontainebleau is sitting on R2,075,000 and your property is worth R3,500,000 this means that it may take just a little longer to sell than normal. This may not always be the case. There is still a great deal of cash in the market and when you combine good property marketing and being in the right place at the right time, sometimes a sale and a transfer can take 6 weeks. Fact and I have seen it.
No, I am not afraid to list an overcapitalised Randburg property
No, absolutely not. The one thing that I can say about Keller Williams as the largest real estate brand in the world is that we work towards a common goal. And that goal is to help you sell your property for the best possible price in any given market. The magic comes in with the Technology we leverage. My colleagues and I all work together like clockwork to ensure that if they have a buyer we work together to ensure a win-win for you. I will personally work with any agent who claims they have buyers and trust me in the current market all agents say this. I would be perfectly happy for you to send those agents my way and I will arrange a viewing with you. But, on condition that I can see very clearly that the buyer is good for the value that you want for your home. I ask for proof and I do not bring buyers through to invade your home or your privacy if your home is not in their price range.
How many homes do we have between R3,5m and R11m?
Let’s have a look at only the homes within Keller Williams that range from R3,500,000 to R11,000,000. There are 12 properties on the market that are asking for higher prices. This is not to say they have all been overcapitalised, but like Sundowner or Fontainebleau the most magnificent property does pop up now and again and it’s just wonderful to see what people have done to make the most of their property and why they are asking top Dollar…. Click here to view the homes on sale within KW in this price range. By the way I have 4 properties coming onto the market squarely in this price range within the next 3 months. What that also means is I ‘leverage’ buyers but only if I know and understand exactly what they are looking for and if your home would be a good fit.
Do you need assistance?
Call or WhatsApp Sandy from Sell with Sandy on 083 550 1220. My business is proudly powered by Keller Williams and with a large and strong footprint in Randburg. I only work in selected areas but I have some amazing colleagues who would be more than willing to assist you, qualified, experienced and just really nice people. And trust me, it’s nice to work with nice people you can trust. Trust your gut on this, because that little voice is either smiling or cringing on the inside. I would love to assist you. Visit my website for more info because I have quite a few posts there that support my shameless optimism in the Randburg property market no matter what property you have plans to sell.