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Selling Your Home: A Beginner's Guide

6 - 8 mins MIN READ|09/06/2023
Introduction Selling your home is a significant life event, one that often comes with complexity, emotions, and stress. Whether you're a seasoned seller or a first-timer, the process can be overwhelming. But fear not, we're here to help you navigate this journey smoothly. In this comprehensive guide, we'll take you through the crucial steps, share valuable tips, and provide you with strategies to ensure a successful sale of your cherished home in the competitive real estate market. 1. Pricing Your Home Right Setting the right price for your home is like laying the foundation of a sturdy house; it's crucial. Overpricing can scare away potential buyers, while underpricing might cost you hard-earned equity. Here's how to find that sweet spot: • Market Research: Research recent sales of similar homes in your neighborhood. Look at not just the selling prices but also how long those properties were on the market. This will give you a good pulse on the current market conditions. • Expert Advice: Real estate agents are your best allies here. They bring extensive market knowledge and can help you determine a competitive and realistic price for your home. • Online Tools: You can use online valuation tools as a starting point, but remember, they're not perfect and should only be one piece of the puzzle. • Assess Home's Condition: Be objective about your home's condition. Consider any repairs or updates and factor them into your pricing strategy. 2. Preparing Your Home Before you put your home on the market, it's essential to ensure it's in its best shape. A well-maintained home not only sells faster but can also fetch a higher price. Here's what to focus on: • Curb Appeal: First impressions count. Improve the exterior by mowing the lawn, adding fresh mulch, and giving your front door a fresh coat of paint. • Minor Repairs: Attend to those small but noticeable issues like leaky faucets, cracked tiles, or any electrical or plumbing problems. These seemingly minor repairs can make a significant difference. • Interior Updates: A fresh coat of neutral paint, new carpets, and fixing visible flaws can make your home more inviting. • Home Inspection: Consider getting a pre-listing home inspection. It allows you to identify and fix any significant issues upfront, giving potential buyers confidence in your property. 3. Staging Your Home Home staging is the art of showcasing your home's potential. It's about creating an atmosphere that appeals to buyers' emotions and imaginations. Here's how to do it effectively: • Declutter: Remove personal items and excess furniture to create an open, inviting space. Buyers want to picture themselves living there. • Optimize Space: Rearrange furniture to maximize the sense of space. Bulky furniture can make rooms feel cramped. • Neutralize Decor: A neutral color palette and decor help buyers envision their own style in the home. • Highlight Features: Showcase your home's best features, whether it's a stunning fireplace or a breathtaking view. • Consider Professional Help: If staging feels overwhelming, professional stagers can work wonders in presenting your home in the best light. 4. Captivating Photography In the digital age, high-quality photos are your home's first impression on potential buyers. Professional photography can make your property stand out. Here's why it's crucial: • Online First Impressions: Many buyers start their search online. High-quality images grab their attention and encourage further exploration. • Feature Highlights: Professional photographers know how to showcase your home's unique features, making it more appealing. • Visual Storytelling: Photos create a narrative for your home, helping buyers visualize their life there. 5. Online Marketing Online marketing is the driving force in today's real estate market. In addition to traditional methods, tap into the vast reach of the internet. Here's how: • Compelling Listings: Create detailed and captivating online listings that highlight your home's strengths, location, and potential. • Leverage Social Media: Share your listing on social platforms to reach a broader audience. Consider paid advertising to target specific demographics. • Real Estate Websites: List your property on popular real estate websites like Zillow, Realtor.com, and Trulia. These platforms attract numerous potential buyers. • Virtual Tours: Offer virtual tours or 3D walkthroughs for buyers who can't visit in person. It helps them experience your home remotely. 6. Flexibility with Showings Once your home is on the market, be prepared for showings at different times. Flexibility can make a significant difference in attracting potential buyers. Here's how to handle showings: • Always Show-Ready: Try to keep your home clean and organized, so it's ready for a showing at a moment's notice. • Give Space During Showings: Buyers often feel more comfortable when the homeowner isn't present. Plan to be away during scheduled showings. • Protect Valuables: Lock away or remove valuable items during showings to ensure their safety. • Provide Information: Leave helpful information about your home, such as recent upgrades or neighborhood amenities, for potential buyers to review. 7. Reviewing Offers As offers come in, it's vital to assess them carefully. Here's how to navigate the negotiation process: • Understand Offer Terms: Review each offer's terms, including the sale price, contingencies, and proposed timeline. • Counteroffers: If an offer falls short of your expectations, consider responding with a counteroffer. It can kickstart negotiations toward a mutually agreeable deal. • Consult Your Agent: Your real estate agent is a valuable resource during negotiations. They can provide insights into the strengths and weaknesses of each offer. • Align with Your Goals: Consider your overall goals—whether it's the highest price, a quick sale, or specific closing dates—when making decisions. Conclusion Selling your home can indeed be a complex and emotional journey. However, armed with these tips and advice, you can confidently embark on this exciting path. Pricing your home right, making necessary repairs, staging effectively, using online marketing, and being flexible with showings are the keys to a successful sale. Don't forget, that a knowledgeable real estate agent can simplify the process and enhance your chances of a successful outcome. With these insights in mind, you're ready to become a trusted expert in your local real estate market and successfully sell your home.  
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  • Selling Your Home: A Beginner's Guide

    Guide

    Selling Your Home: A Beginner's Guide

    Introduction Selling your home is a significant life event, one that often comes with complexity, emotions, and stress. Whether you're a seasoned seller or a first-timer, the process can be overwhelming. But fear not, we're here to help you navigate this journey smoothly. In this comprehensive guide, we'll take you through the crucial steps, share valuable tips, and provide you with strategies to ensure a successful sale of your cherished home in the competitive real estate market. 1. Pricing Your Home Right Setting the right price for your home is like laying the foundation of a sturdy house; it's crucial. Overpricing can scare away potential buyers, while underpricing might cost you hard-earned equity. Here's how to find that sweet spot: • Market Research: Research recent sales of similar homes in your neighborhood. Look at not just the selling prices but also how long those properties were on the market. This will give you a good pulse on the current market conditions. • Expert Advice: Real estate agents are your best allies here. They bring extensive market knowledge and can help you determine a competitive and realistic price for your home. • Online Tools: You can use online valuation tools as a starting point, but remember, they're not perfect and should only be one piece of the puzzle. • Assess Home's Condition: Be objective about your home's condition. Consider any repairs or updates and factor them into your pricing strategy. 2. Preparing Your Home Before you put your home on the market, it's essential to ensure it's in its best shape. A well-maintained home not only sells faster but can also fetch a higher price. Here's what to focus on: • Curb Appeal: First impressions count. Improve the exterior by mowing the lawn, adding fresh mulch, and giving your front door a fresh coat of paint. • Minor Repairs: Attend to those small but noticeable issues like leaky faucets, cracked tiles, or any electrical or plumbing problems. These seemingly minor repairs can make a significant difference. • Interior Updates: A fresh coat of neutral paint, new carpets, and fixing visible flaws can make your home more inviting. • Home Inspection: Consider getting a pre-listing home inspection. It allows you to identify and fix any significant issues upfront, giving potential buyers confidence in your property. 3. Staging Your Home Home staging is the art of showcasing your home's potential. It's about creating an atmosphere that appeals to buyers' emotions and imaginations. Here's how to do it effectively: • Declutter: Remove personal items and excess furniture to create an open, inviting space. Buyers want to picture themselves living there. • Optimize Space: Rearrange furniture to maximize the sense of space. Bulky furniture can make rooms feel cramped. • Neutralize Decor: A neutral color palette and decor help buyers envision their own style in the home. • Highlight Features: Showcase your home's best features, whether it's a stunning fireplace or a breathtaking view. • Consider Professional Help: If staging feels overwhelming, professional stagers can work wonders in presenting your home in the best light. 4. Captivating Photography In the digital age, high-quality photos are your home's first impression on potential buyers. Professional photography can make your property stand out. Here's why it's crucial: • Online First Impressions: Many buyers start their search online. High-quality images grab their attention and encourage further exploration. • Feature Highlights: Professional photographers know how to showcase your home's unique features, making it more appealing. • Visual Storytelling: Photos create a narrative for your home, helping buyers visualize their life there. 5. Online Marketing Online marketing is the driving force in today's real estate market. In addition to traditional methods, tap into the vast reach of the internet. Here's how: • Compelling Listings: Create detailed and captivating online listings that highlight your home's strengths, location, and potential. • Leverage Social Media: Share your listing on social platforms to reach a broader audience. Consider paid advertising to target specific demographics. • Real Estate Websites: List your property on popular real estate websites like Zillow, Realtor.com, and Trulia. These platforms attract numerous potential buyers. • Virtual Tours: Offer virtual tours or 3D walkthroughs for buyers who can't visit in person. It helps them experience your home remotely. 6. Flexibility with Showings Once your home is on the market, be prepared for showings at different times. Flexibility can make a significant difference in attracting potential buyers. Here's how to handle showings: • Always Show-Ready: Try to keep your home clean and organized, so it's ready for a showing at a moment's notice. • Give Space During Showings: Buyers often feel more comfortable when the homeowner isn't present. Plan to be away during scheduled showings. • Protect Valuables: Lock away or remove valuable items during showings to ensure their safety. • Provide Information: Leave helpful information about your home, such as recent upgrades or neighborhood amenities, for potential buyers to review. 7. Reviewing Offers As offers come in, it's vital to assess them carefully. Here's how to navigate the negotiation process: • Understand Offer Terms: Review each offer's terms, including the sale price, contingencies, and proposed timeline. • Counteroffers: If an offer falls short of your expectations, consider responding with a counteroffer. It can kickstart negotiations toward a mutually agreeable deal. • Consult Your Agent: Your real estate agent is a valuable resource during negotiations. They can provide insights into the strengths and weaknesses of each offer. • Align with Your Goals: Consider your overall goals—whether it's the highest price, a quick sale, or specific closing dates—when making decisions. Conclusion Selling your home can indeed be a complex and emotional journey. However, armed with these tips and advice, you can confidently embark on this exciting path. Pricing your home right, making necessary repairs, staging effectively, using online marketing, and being flexible with showings are the keys to a successful sale. Don't forget, that a knowledgeable real estate agent can simplify the process and enhance your chances of a successful outcome. With these insights in mind, you're ready to become a trusted expert in your local real estate market and successfully sell your home.  

    6 - 8 mins MIN READ | 09/06/2023
  • Workcation Wonders: Profiting from Australia's 2023 Travel Trend

    Article

    Workcation Wonders: Profiting from Australia's 2023 Travel Trend

    How to Profit from the Workcation Trend in Australia in 2023?   In recent years, a transformative travel trend has emerged that combines work and leisure – the workcation. This innovative approach to travel has gained immense popularity among remote workers, freelancers, entrepreneurs, and digital nomads, enabling them to blend their professional commitments with the exploration of new destinations. Australia, with its diverse landscapes, vibrant cities, and robust digital infrastructure, has become a hotspot for workcations. In this comprehensive guide, we'll delve into the world of workcations and explore how you can harness this trend to create a profitable venture in 2023 and beyond.   The Power of Workcations: A Fusion of Productivity and Adventure Workcations are more than just a temporary escape; they represent a new way of experiencing life and work simultaneously. The benefit of workcations is offering participants a unique blend of flexibility, productivity, creativity, savings, and enjoyment. The freedom to choose when, where, and how long to work enables individuals to craft a schedule that aligns with their personal and professional preferences. Distanced from everyday distractions and stressors, workcations stimulate heightened productivity, allowing for the accomplishment of tasks in an invigorating environment. Moreover, exposure to different cultures, landscapes, and experiences fosters creativity and inspiration, enriching both work and personal life. Additionally, workcations can lead to substantial savings by either selecting cost-effective destinations or capitalizing on off-season rates. This prudent approach to spending enables participants to manage their finances wisely while indulging in novel experiences. Lastly, workcations offer the perfect balance between work and leisure, encouraging travelers to explore local attractions, engage in recreational activities, and savor diverse cuisines, making the journey both productive and enjoyable.   Workcations: A Lucrative Opportunity for Investors and Developers The surge in workcation popularity not only benefits travelers but also presents an enticing prospect for investors and developers in the hospitality industry. According to Deloitte, Australia's tourism sector is poised for a robust recovery in 2023. With projections indicating a 28% increase in domestic overnight trips and a 31% increase in domestic visitor nights compared to 2020, it's evident that the demand for nature-based, uncrowded destinations remains high. This trend signals a golden opportunity for investors and developers to capitalize on the growing interest in workcations and cater to the evolving needs of modern travelers.   Unveiling the Australian Vacation Rental Boom The Australian vacation rental industry is undergoing an unprecedented boom, with platforms like Airbnb and Stayz listing more than 200,000 properties. Impressively, vacation rentals have exhibited an average occupancy rate of 58% in 2020, outperforming hotels with an average occupancy rate of 46%. The average daily rate for vacation rentals stood at $250, exceeding the average hotel rate of $150. This promising data highlights the tremendous potential that vacation rentals offer as a lucrative business venture, particularly when aligned with the workcation trend. Unlocking Success in the Workcation Market: Strategies for Profitability For individuals aiming to harness the workcation trend and maximize profitability in Australia's dynamic market, a strategic approach is crucial. Here are some actionable steps to guide your journey: 1. Identify Your Target Market: Understand your ideal workers – their needs, preferences, and budgets. Tailor your property's amenities and services to cater to their unique demands. 2. Choose Your Location Wisely: Invest time in selecting the right location for your workcation property. Analyze the advantages and disadvantages of each potential destination, assess the competition, and gauge the demand in the area. 3. Offer Value and Quality: Distinguish your property from the competition by offering exceptional value and quality. Highlight unique features and benefits that set your property apart, ensuring customer satisfaction and loyalty. 4. Master the Art of Promotion: Develop effective marketing strategies to reach potential customers. Leverage various channels to showcase your property's unique selling proposition, backed by authentic testimonials from satisfied workers. 5. Streamline Your Operations: Implement efficient operational processes to manage your property. Leverage tools and systems to simplify booking, payment, communication, and maintenance procedures, ultimately reducing costs and boosting revenue.   Conclusion: Workcations - A Gateway to Profitable Ventures As the workcation trend continues to shape the way we travel and work, the potential for profitable ventures in Australia's hospitality sector has never been greater. By meticulously identifying your target market, strategically selecting a location, offering unparalleled value, promoting your property effectively, and optimizing your operations, you can create a workcation property that not only resonates with the needs of modern travelers but also maximizes your returns on investment. The convergence of work and leisure is transforming the way we experience the world, and as a smart investor or developer, you have the opportunity to shape this evolving landscape while reaping substantial rewards. Seize the moment, embark on this transformative journey, and unlock the boundless possibilities that workcations offer in 2023 and beyond.    

    8-10 mins MIN READ | 08/28/2023
  • The Importance of Neighborhood Amenities and Lifestyle Factors in Real Estate: A Comprehensive Guide

    Article

    The Importance of Neighborhood Amenities and Lifestyle Factors in Real Estate: A Comprehensive Guide

    The Impact of Neighborhood Amenities and Lifestyle Factors in Real Estate Real estate is a complex and dynamic market where multiple factors come into play when buying or selling a property. While location has long been recognized as a necessary element in the world of real estate, the concept of "location" includes many different things to consider. Among these, the availability of neighborhood amenities and lifestyle factors emerges as a compelling force that shapes not only the desirability of a location but also its impact on property prices and house values. The Role of Real Estate Agents in Navigating Amenities and Lifestyle Factors Real estate agents, often considered the guiding compass for buyers and sellers in this intricate realm, understand the pivotal role that these factors play. While they frequently emphasize the importance of location, it is essential to delve deeper into what precisely constitutes a desirable location. One key aspect is the presence of neighborhood amenities, which can range from community parks and libraries to restaurants and theaters. These amenities are not mere add-ons; they are transformative elements that infuse life and vitality into an area. Insights from Studies: How Neighborhood Amenities Impact Health and Well-Being There have been several studies conducted in Australia, one such study is “Impact of Disadvantaged Neighborhoods and Lifestyle Factors on Adult Obesity” which looked at whether low-income neighborhoods in Australia’s most populous cities have less green space than other neighborhoods. The study found that adults living in the most disadvantaged area respectively, are more prone to be overweight and obese compared with peers living in the least disadvantaged areas. Study results also revealed that adults who consume fruits regularly and perform high levels of physical activity were less likely to be obese, respectively, compared to their counterparts. Also, neighborhoods with more low-income residents did have less green space, revealing that this could make health inequalities worse if people on lower incomes had less access to parks and other green spaces. The Social and Community Impact of Amenity-Rich Neighborhoods Amenity-rich neighborhoods are more likely to be regarded as excellent places to live. Residents in such locales not only feel safer walking the streets at night but also exhibit a greater interest in the happenings of their community. On the other hand, communities that lack easy access to these amenities are at a higher risk of social isolation. Interestingly, this phenomenon persists even after accounting for variables like social class, education, gender, and race. The availability of amenities emerges as a significant predictor of feelings of community satisfaction, social trust, and social isolation. Amenities as Key Leverage in Real Estate Transactions In the context of real estate, amenities serve as crucial leverage for both buyers and sellers. For potential buyers, amenities act as appealing features that enhance the value of a property. Real estate agents often highlight these amenities as key selling points when marketing properties. In property listings, amenities such as community pools, fitness centers, playgrounds, and walking trails are highlighted to attract potential buyers. Impact on Property Values: The Amenities Factor Moreover, amenities serve to differentiate properties in a crowded marketplace, offering a competitive edge that can influence the final purchase decision. For instance, a family seeking a home may prioritize properties located near quality schools and parks, whereas a buyer looking for a vibrant urban experience may value easy access to entertainment venues and restaurants. As a result, the presence of these amenities can significantly impact a property's marketability and potential for commanding a higher price. The Holistic Equation: Amenities and Other Determinants of Property Prices Property prices and house values are essentially tied to the desirability of a location, with neighborhood amenities playing a crucial role. This connection is not mere speculation; it is supported by practical evidence. According to Investopedia, properties with desirable amenities often command higher prices than those lacking. This is because amenities elevate a property's attractiveness and appeal to a broader range of potential buyers or tenants. Beyond Property: The Ripple Effect of Amenities on Entire Communities When evaluating property prices, it becomes evident that the influence of amenities extends beyond the properties themselves. Entire neighborhoods and communities benefit from the value enhancement that amenities bring. As neighborhoods evolve into amenity-rich hubs, the collective impact on property prices can lead to a significant appreciation in real estate values. This phenomenon is a testament to the enduring principle that a thriving community is a crucial factor in fostering enduring property value. Balancing the Equation: Amenities in the Larger Context It is important to note that amenities are not the sole determinant of property prices. While they contribute significantly, other factors also come into play. These factors include a broad spectrum, ranging from crime rates and access to public transportation to the quality of local schools and proximity to major highways. Collectively, these components interact to create a total representation of a neighborhood's desirability and, consequently, its impact on property prices. Elevating Real Estate Choices: The Significance of Amenities and Lifestyle Factors In conclusion, the importance of neighborhood amenities and lifestyle factors in real estate is significant. These factors form an essential bridge between a location's appeal and its influence on property prices and house values. Real estate agents skillfully navigate this complex landscape, recognizing that the presence of amenities adds value to properties and nurtures a sense of community, trust, and satisfaction among residents. Empowered Decision-Making: Harnessing the Transformative Power of Amenities As buyers and sellers engage in the dynamic world of real estate, an awareness of the transformative power of amenities equips them with a deeper understanding of the market forces at play. Ultimately, the decision to buy or sell a property goes beyond the physical structure; it includes the vibrant combination of amenities that breathe life into a neighborhood and elevate it from a simple location to a place that individuals are proud to call home.

    10-12 mins MIN READ | 08/18/2023
  • What does the 2022-23 budget mean for you?

    Article

    What does the 2022-23 budget mean for you?

    On Tuesday 25th of October, the federal treasurer Jim Chalmers released the recently elected Labour government's first budget in almost a decade.    The announcement comes with several strategies around affordability, and supply and demand issues in the hope of supporting Australia’s housing industry.    The Albanese government has a plan to build 1 million new homes across the country over the next 5 years. Every state and territory will have to do their part to meet supply targets, this will include altering land release and potentially re-zoning properties.    If executed correctly this may give Australia’s housing stock the generational injection the market has been deprived of.    Although not an immediate impact, if you are in the market to buy, this new budget will help stabilize affordability across the country. It will also help reduce the impact of the Australian rental crisis. (See “The real reason behind the “rental Crisis” article here).    Right now, the current settings around built-to-rent housing are a barrier to investment, the new budget along with experts' advice including Mr. Ken Morrison (Chief Executive at the Property Council of Australia) around the government needing to do additional “tangible actions” especially around the tax settings for investment will entice more rental stock online.    However, the new budget will not have an immediate impact on housing and rental affordability. There are still constraints on the housing supply, including a backlog of new builds from supply chain pressures, which means affordability pressures for home buyers and renters are likely to continue.     

    MIN READ | 10/31/2022
  • The Real Reason Behind the “Rental Crisis” ?

    Article

    The Real Reason Behind the “Rental Crisis” ?

    The Australian media like to portray the cause of Australia’s rental crisis as a result of lack of supply, inflation, higher demand due to interest rate rises, delay in new builds, or changes in lifestyle during the pandemic, although all play a part much of the cause is actually due to a lot of landlords or the new correct term ‘rental providers’ turning to short term rentals.   According to sources the rental crisis is expected to get even worse in Melbourne over the next coming months as more return to the city and landlords raise rents where they can.  There has been a total of 25.7% decline in total new rental stock in Melbourne over the past year according to Prop Track’s latest rental report.    The question is why?    More and more landlords have turned their heads and focused on short-term accommodation in the likes of flatmates and the most popular Airbnb.    This not only provides the rental provider flexibility; it also can be more profitable and keep them in control of their big asset.    In early 2021 there were somewhat of approximately 147 new rental laws implemented in Victoria. The new laws set out a range of provisions to protect renters, including stipulations over the requirements for a number of basic amenities in every rental property and the new rules dictate renters cannot be evicted unless the Victorian Civil and Administrative Tribunal (VCAT) considers it reasonable.    What was called the ‘biggest reforms to rent in Victoria’ caused a snowball effect on the rental market in Victoria causing investors to either sell off their investment properties in today's ‘owner occupant market’ or move to short-term rental options to remain in control of their asset where the rules are less “tenant favored” according to some rental providers interviewed.    In March last year, REIV chief executive officer Gil King said that “increasing ownership costs and making maintenance and management of the property more complex is a deterrent for investment”, he also suggested, “higher rents and land taxes could see mum-and-dad investors exit this asset class, putting further pressure on rental availability and affordability for Victorians”.    It is safe to say the CEO's predictions came to fruition, with a large proportion of landlords exiting the marketing or adapting to new innovative ways of rental in the last 12 months due to their inability to meet the new regulatory demands.   The question is if the laws remain tenant-favored, will we see investors come back to the traditional ways of rental, or will short-term accommodation in the likes of Flatmates or Airbnb become the Australian rental market ‘new normal’?

    MIN READ | 10/17/2022
  • What Is Rentvesting?

    Article

    What Is Rentvesting?

    So what is rentvesting?    Rentvesting is a home-owning strategy where you rent a property to live in that's right for your lifestyle, while you own an investment property that's right for your budget. As home prices in inner-city areas have gone up, this strategy is increasingly popular, especially among younger buyers.   Rentvesting has emerged as a result of the increasing difficulty of purchasing real estate closer to the city.    Therefore, we are beginning to see values in certain urban areas start to rise over, perhaps, what the ordinary household can afford. However, the typical family still desires all the comforts and lifestyle benefits that come with living close to a city.    In simple terminology; Rentvesting is the practice of renting a property in a particular place while using the difference between what it would cost you to own there, or your mortgage payments, and using that difference to invest in something else.   For those looking to start out in real estate, rentvesting can be a fantastic alternative.    Many Australians find themselves in a very favorable economic position as the world gradually approaches a post-pandemic new norm. We are once again in love with real estate thanks to historically low borrowing rates and robust government backing for the housing market.   Because property values increase over time and, more significantly for investors, rent can contribute to their passive income in retirement, many Australians view real estate as a particularly attractive asset to own.   Being able to afford the kind of home you want in the neighborhood you want to live in can be difficult for many people.   There are three principal choices:   Yes, you can currently afford a home that matches your needs. No, it doesn't work at that price, so you make a compromise and perhaps buy somewhere more in line with your budget. Since renting is less expensive than making mortgage payments, you can choose to live where you want in a suitable home, but you'll have to purchase an investment property.    This third choice is essentially the idea of "rentvesting," when an individual or family decides to rent where they wish to live while putting their extra cash to work by purchasing an investment property to increase wealth and make up for not purchasing an owner-occupied property.   If you’re looking into starting your rentvesting venture, contact us today and let us help you, unlock your future. 

    MIN READ | 09/20/2022
  • Big Cash Splash

    Article

    Big Cash Splash

    With end of financial year coming up soon, there isn't a better way to write off some of your forecasted tax payable than, you guessed it, purchasing a property with as much debt associated with it as possible!   Evidently, this has been the trend! Investors, property developers, first home buyers, second home buyers, downsizers... theyre all buying property! And the online auctions don't seem to be phasing them this time around. With properties selling at auction for WAY over reserve.    And now, were finding that sellers are wanting more! Prices are increasing, yes we are in the midst of a property pandemic boom! The property market seems to have bounced back to pre-lockdown levels, with economists forecasting continued growth throughout 2021.   With the Federal Budget 2021/2022 set to be a big cash splash, the government  has announced further tax cuts. Yes, there seems to be a massive transfer of wealth happening currently. Additonally, building and construction costs are on the rise as we ride through the next wave of inflation. And the covid vaccine is here! How do you think this will impact property prices? Will property be "cheap" today, when we look back in hindsight in 2,3,4 years from now?   This month we have an absolute stunning brand new single level villa launching to the market at 4/5 Florence Street, Coburg. Be sure to tune for more information on this exciting upcoming auction!   Until next time, stay safe, stay calm and purchase real estate!

    MIN READ | 05/29/2021
  • First Quarter Done

    Article

    First Quarter Done

    What a first quarter we've had in 2021! The ramifications of which have seen the Melbourne property market experience growth of extraordinary measures. That of which has taken the Melbourne Median price on a 8.8% quarterly increase, to over $1,000,000.00 for the first time ever! Yes, ladies and gents, the property market is back. But is it for good?   We've seen an end to jobkeeper payments, which doesn't really seem to be having an impact on property prices too much, so far. The expectation, as a result of jobkeepers demise, was that there would be a surge in property supply. Evidently, the property supply of late around Pascoe Vale has been at a record low.   Now that jobkeeper is over, what's next?New reforms are on the table with potential that Victorian State Government will look into scratching the stamp duty, like neighbouring NSW. This would push prices even higher and further away from the reach of frustrated buyers who weve seen miss out over the last few months.   Buyers are starting to see advertised property price range and give up before the race has even started. Thinking that all auctions are going to 'sell for above the price range' wont help your cause! Hey there buyer, don't give up!    Although the property market seems to be hot, don't get overwhelmed in the heat of an auction. Keep your head straight, brush yourself off, and keep looking! Id definately want to get into the property market sooner rather than later. I mean who wouldn't want to capitalise on the potentially huge capital gains over the coming years?   All in all, a great mindset is to buy with your head, not with your heart. Thus, don't forget, progress beats perfection. If its not the perfect one, than close is good enough! Quickly now, before the next bidder gets in!

    MIN READ | 04/26/2021
  • Behold 2021

    Article

    Behold 2021

    The Realest Estate has been productive thus far in 2021, selling properties and opening a new office in South Yarra! So the lockdowns may have been a sigh of relief, providing the opportunity to slow down a little... Which is healthy for me, I guess!   There is no doubt that Melbourne & Victoria went through a very rough patch in 2020. Our case numbers peaked at 700 cases per day, and we went though the world's longest and toughest lockdown ever. Coincidentally, the Melbourne property market corrected the most out of all the property in Victoria. However throughout all of this, the Melbourne market has proven that it can be the most resilient also. Consumer confidence back to a 2 year high.    New lockdowns means a fresh round of stimulus to be pumped into the Victorian Economy again. Can you have a guess what that will do to house prices? A nice recovery perhaps?   2021 has been intriguing from the get go.  So have you heard about the Andrew’s Governments $350B pledge? Yes, of which $155B is funded by debt (approx $21,000 per Victoria) How do we pay back this debt? Through property of course!  Buyers are lining up again.    The Realest Estate have had numerous properties going to auction in January and February of 2021, receiving numerous offers beforehand.    If you’re selling, you may want to beat the glut of properties that are expected to hit the market in March when JobKeeper finishes.     CBA forecasts 16% rise in Australian properties over 2021 & 2022. Why? Because of debt levels of course. And this money printing and stimulus ain’t going to stop.    If you're on the fence and thinking about getting into the property market, don’t wait until my next blog - it may be too late! Take advantage of the capital gains and secure your future now!

    MIN READ | 02/25/2021
  • Out Of Lockdown

    Article

    Out Of Lockdown

    In our first month back to "normal", Melbourne's property market is evidently HOT! Money is officially cheaper than inflation... Corona got us cheap money?     With Coburg sales results leading the way for the evident next boom, the affordability of Pascoe Vale will quickly see it becoming Melbourne's next million dollar suburb.     Evidently, in a sign of the times, our Pascoe Vale townhouse on McCracken Avenue sold before auction for a great result! Our townhouse at 1 Fox court, Jacana sold in just 5 days! Both homes were sold to first home buyers! So is the market red hot? Are we back to business yet? Or are Victorians just excited to be out of Lockdown?   Interest rates are at record lows, with the cash rate being slashed this month to just 0.1%!! Surely that in itself will give buyers confidence to stretch themselves out that little bit extra!! The Melbourne housing market may just prove to be more popular than the toilet paper fiasco.   Mortgage brokers will agree. The finance pre approval is taking a lot less time to be processed. Another sign that we are at the start of the next boom!   In Perth, mining magnate Andrew Forrest has made a big push into property! And why wouldn't he? The return on property investment in Perth is massive! The forecasted growth is huge! Mr Forrest knows how to play his cards!   I said in my last blog that COVID Spring in Melbourne will be one for the record books. And so far, it definitely appears to be tracking.

    MIN READ | 11/11/2020
  • A Step Forward!

    Article

    A Step Forward!

    And so the financial year comes to an end, and what a financial year it has been.   Our first week back to private inspections is definitely a sign of the times we are in. The return of physical inspections has been a sigh of relief - for all!   First Home Buyers are out in force!! And well done to them.  They are the smart buyers, hijacking the greatest opportunity to enter the real estate market for a first home buyer, probably ever.   The team at The Realest Estate have come to a firm conclusion; There is a defiant pent in demand for property. This past week in Melbourne post lockdowns, most agents will agree that there is a rush and an urgency for buyers to ‘beat the next lockdown’.    With 12 weeks until Christmas, it may remain like this for a while. So what does that mean? Are houses running out the door? Is Melbourne property going to be more popular than the toilet paper fiasco? Well you can see what’s happened in Queensland and our neighbours on the Australian Eastern seaboard post their COVID Restrictions being eased.   And so we hear about the drop in property prices quite often. But quickly, what about a contending perspective?  The current shortage of properties for sale, combined with this urgency by buyers to beat the next lockdown could fuel the property prices even further.   And for brand new developments? First home buyers take note! Building materials, labour and ultimately build costs are increasing rapidly. This, in addition to the excessive amounts of government money available - WILL push property prices up! If your budget is $600,000 and you can still afford to buy close to mum and dad, your opportunity may only be available in 2020!   The ever growing and more evident issue that will arise in the coming months, a property supply shortage, which may not disappear immediately as we soon may realise! If you’ve been watching the news you wouldn’t agree. October was meant to be that month - It has been implied that prices were meant to drop.   If you are actually still waiting for house prices to drop 30%, you should really reconsider those prospects! A month late this year - our peak selling season has started a month late. Read that again. Grab the popcorn (I won’t have time), because 2020’s ending will definitely not disappoint! COVID-Spring in Melbourne will be one for the record books!

    MIN READ | 10/06/2020
  • The Restrictions For Rentals

    Article

    The Restrictions For Rentals

    Hi All, I hope you are keeping safe and well during this time. Following on the instagram post made live today, I have summarised some of the questions regarding the restrictions for rentals. Are real estate offices closed?Yes. Real estate services are a permitted industry but the offices must close under Stage 4 restrictions, with all staff working remotely. Our office line has been diverted and we are able to assist you via phone or email.  Am I able to inspect a property?Property inspections for rental accommodation must move to virtual platforms under Stage 4 restrictions. It is not permitted for potential renters to visit a property in person. Our office has prepared for this with virtual tours available across all of our rental property listings. Are we still able to arrange maintenance?Only urgent and emergency maintenance can be carried out under Stage 4 restrictions across all residential accommodation. If there is an urgent item please contact Tania on 0419 441 923. Are routine inspections still in motion?Routine Inspections are unable to proceed during Stage 4 restrictions however detailed instructions have been sent to those due for a routine inspection to conduct this virtually. We thank all for the cooperation on this. Can a person commence a lease during the 6-week period – that is move in? If so, does this extend to non-residential property?Yes. You are still able to move to a new house or non-residential property if you had already arranged to move, but the curfew hours still apply. You should also take extra steps to stay safe including wearing a face covering. Ie, if you had arranged to move out of a property and have not secured a new property yet. However, this provision would be less likely to apply if they made the decision to move during the restriction period. The government is trying to limit movement of Metro Melbourne residents. Can estate agents attend vacant sites to record videos/walkthroughs to assist in the sale process?No. Making videos is not a permitted reason under Stage 4 restrictions. How do I apply for properties?During this time we ask that all applications are made via 1form. Once this application has been processed we will organise a video conference to discuss why this property is suitable for you. Are property managers still able to facilitate exit/entry reporting and how are tenants collecting keys?Services related to property settlement or commencement/end-of-lease can continue to operate. This includes condition reports and cleaning, only once the property is vacated. A contactless key arrangement is made for those moving into homes during this time. We hope this helps answer some of the questions you have asked, as always if there is anything feel free to contact us. Keep up to date with the latest news, updates and listings and follow us on Facebook & Instagram today! Stay home & Stay safe

    MIN READ | 08/17/2020

  • Article

    EOFY PROPERTY SALES!

    And so the financial year comes to an end, and what a financial year it has been. This time last year, we saw the first of many interest rate cuts. And since then, it appears that the market has been on the way up.Enter Coronavirus. Corona has been for many a shocker, for some a blessing, and for all, all once in a lifetime! So for me what that means – the panic in the marketplace that these events have caused would lead me to believe that the best opportunity to purchase property in our lifetime is well and truly upon us! Add the fact that more people are working from home, this really brings regional properties and outer metro areas on to the pedestal. The Victorian property market has been resilient to say the least! The federal government has come up with the Home Builder Scheme, allowing new home builders or renovators who spend over $150,000 an additional $25,000 grant from the federal government. Interest rates are at all time lows, so if you’re borrowing to buy a property, lending has never been so cheap! Again, interest rates are at all time lows, so if you’ve got your money sitting in the bank, its earning you less than 2% in most cases. Where a property historically returns more than 2% on average (capital growth and rental). If you want to know more about interest rates, when's a good time to buy, selling your property or just a general enquiry, please contact us via one of our social media platforms today! Happy house hunting!

    MIN READ | 06/30/2020

  • Article

    Property or Cash

    Property is a hot topic at the moment! Government stimulus, share market volatility, interest rates nearly at 0%... What an attractive asset class property looks to be at the moment, or is it? The last month we have seen an influx of enquiry, looking at properties that our agency has listed across the state. One would say that with the current economical climate and the MASSIVE $440Billion printed by the government and supplied to different parts of the economy thus far (with more money still to come!) to prop up the economy, why would you hold on to cash? That is a question that is open for deliberation. Money is becoming less and less valuable with every interest rate reduction, and investment into property is looking more and more attractive. So, do you keep your $200K in savings in your bank account earning you approximately $3K in interest per annum? OR Do you use that same money as a deposit for a property, and leverage DEBT to potentially ride another double digit growth in prices? The answer seems so distant yet so far away, right? Are we approaching the next property boom? Just remember, in times of inflation, debt becomes irrelevant. As your $200,000 deposit and $500,000 debt on a $700,000 property moves through time, your debt will decrease with time, but your asset position will obviously increase at a certain rate. $200,000 in the bank earning you $3,000 per annum OR $200,000 on a property earning you equity of potentially $63,000 per annum (at 9% average capital growth). So why do you still have money sitting in your bank account? Contact The Realest Estate today, let us unlock your future. * please note that this is not financial advice.

    MIN READ | 05/28/2020

  • Article

    Interest Rates Go To Zero

    Good evening ladies and gents, Thanks for watching blog #3 for the year, with todays topic including the coronavirus. Coronavirus will undoubtedly have some affect on the markets as we know them. The property market in Australia has shown to be steady and cruising through. I think that has a lot to do with interest rates dropping - as I've said in the past, we are constantly cutting rates and the RBA is holding an emergency meeting this week to most likely cut the nominal interest rate by another .25% - .5%. There will undoubtedly be a lockdown in Australia. There is a lot happening! I think property will see the implications of prices raised through and after the dusk of this crisis settles. It might not be immediately, but we may need to see the panic first. As we can see the share market has been dropping to the effect of 30%, I personally think that the ASX is not at the bottom yet. The downturn is not over; We will see the DOW hit levels around 14 - 16,000 is where we will see equilibrium. This is not financial advice, so please do not go and short the market tonight. The effect will be that this money leaving the ASX will not just disappear, it will need to be parked somewhere. In fact, there is more money in the system right now as government and central banks are printing more of it. So we will see as an effect everything go up in life including both expenses and assets. This is where you’ve heard the term "the rich get richer and the poor get poorer". Assets not limited to property could also include precious metals like gold and silver. As we see interest rates continue to drop and money continue to be printed, property will be a great option for many to park their wealth. I bought my first property in the GFC of 2008, which was the last time we had the sort-of craze and activity that is happening at the moment. I remember being told I was stupid for buying in such a crazy time. I was 18 and was very overwhelmed by what was happening. Today, I have developed that property and it’s probably worth triple than what I had paid for it. I remember reading the front page of the Herald Sun and seeing titles like ‘Property prices increase $3000 per week’. Ultimately, inflation plays a major role in these times... It always does. It's just the world we work and live in.My advice again is, don’t go out there and short the stock market, but definitely do consider going out there and buy property, good property. Don’t leave your money in the bank account, it’s the most ludicrous thing you could do in any environment where rates have never been so low. We are ultimately heading to negative interest rates. I think this week we will see some sort of an economic crisis or a bank run of sorts. I think this will trigger a lot of thought and hopefully action, as the chaos unfolds and people rush to safe assets. We haven’t had this many property sale listings since the peak markets. Over the last 12 - 24 months, we haven’t even seen this much buyer activity! The buyers are definitely back. People are realising that these low interest rate environments are slowly but surely fuelling the property market. The quicker these buyers notice, the more expensive property will get again! Goodluck and keep safe over the coming months as the economic situation unfolds globally.

    MIN READ | 03/18/2020

  • Article

    Landlord Insurance

    ATTN: INVESTORS AND LANDLORDSDo you have landlord insurance? With the changes to the Residential Tenancy Act coming into effect by 1st July 2020, it has become more important than ever that you as a landlord are protected and can effectively sustain your investment property. What is landlord insurance?Landlord insurance is an insurance policy that generally covers an investment property for the financial risks associated with renting out your property including loss or damage caused by tenants. It also can include: • Loss of Rent• Legal Expenses when going to the tribunal• Malicious Damage caused by tenants• Accidental Damage cause by tenants• Fire/Flood/Water Damage• Liability for tenant injury or other loss Why do I need it?There are a few things you should check that your policy includes when considering landlord insurance and vary from policy to policy. It is important to get landlord insurance as while tenants may treat your property as if it were their own; Sometimes accident can happen. For example, I once had a property where tenants accidentally left their tap running with the plug in and flooded their entire apartment and downstairs apartment. Thankfully in this case, the tenants paid for the $40,000 worth of damages, however, what if they didn’t? We take them to VCAT and how long will it take us to get that sort of money from someone? What if their insurance won’t cover them for the damages? It’s good to know you are covered.  What if I don’t have it?Re-consider and get it while you can. With the change in the rental laws, it is more important than ever that you cover all your bases with a good policy. After all, according to the Australia Taxation Office, your landlord insurance policy premium may be tax deductible as it is an investment expense. How do I find out more?To find out more information about landlord insurance, who I would recommend to insure with and/or the new reforms to the tenancy act coming into effect in 2020, feel free to email or call me and I will be happy to help.

    MIN READ | 02/26/2020

  • Article

    Property for 2020

    The prospect is great for property in 2020! Whether you're a first home buyer, seasoned investor or moving homes, nonetheless, property is sure to be paying great dividends in 2020!With huge incentives for first home buyers, especially in the regional areas of Victoria and NSW, there has never been as much government stimulus and grants available as there is right now since right before the start of the last property boom!If you can see past all of the events currently shaking up the world economy, you will soon agree that in a few years time, there would have never been a better time to enter the property market as it is right now!I do believe that the interest rate will drop further, as the government makes attempt to stimulate the economy further reducing borrowing costs and providing incentives of all sorts.In 2019 I do think we saw a bottoming out of property prices and a subsequent improvement in the market by years end.The Fear of Missing Out.People are looking for alternatives in the investment world. As more and more jobs in retail are lost, these incomes will need to be replaced to feed a family one way or another! So yet again, property may become their solution? There aren't too many asset classes that weigh up with property, in fact, there are probably none! Leveraging to 80% (even more than 90% with LMI, so take it if it's available and means you can get in to the market sooner!) leads to greater tax incentives (or so we are told). Moreover, now potentially the biggest and baddest reason, the prospect of negative bank interest rates which are becoming more a reality with every first Tuesday of the month RBA meeting! My tip is for a March interest rate cut.Growing up we knew cash as king and a 'safe haven' asset, like gold for example. Except nowadays there is lots of cash as the Reserve Bank of Australia prints some more money and inflation takes into effect. The buying powers of your Australian Dollar is losing more value as more of this dollar gets printed and available in circulation. Hence, this inflation of the economy is also becoming a reality i.e. assets will appreciate in value.Consequently, everything will become more expensive, and this won't just be limited to property. Other asset classes and expenses and the cost of living too will increase. I say, if they're printing it, then why are we saving it?

    MIN READ | 01/31/2020
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