Archive for the ‘Investment’ Category

Best Job Around

In recent years, commentary around local property markets
has bravely struck an optimistic tone despite the reality of the worst market
in a generation. This, in part, goes to our cultural vernacular, our collective
glass-half-full approach to most things.

In looking at the November results for Perth, Core Logic
revealed a moderate 0.4 per cent rise in home values across Perth. Commentators
grabbed that sliver of positivity and confidently … Read the full post »

Power of Presentation

Thanks to reality
television shows, social media and digital marketing, consumers of real estate
are drawn towards beautiful, expressive, perfectly presented properties where
buyer objections are hard to justify. These aspirational homes encourage
sellers to emulate perfection with many spending significant sums to create the
perfect look prior to coming to market. 

The reality is that
most of us don’t … Read the full post »

Buying in Competition

Listings
levels are down about 12 per cent on this time last year and as demand increases,
home buyers will often find themselves making an offer to purchase in
competition with others.

Agents
have differing approaches as to how to deal with multiple offers but normally
will inform buyers that their offer is one amongst others. When a property is
offered … Read the full post »

Perth Market Under-Valued

A recent trip to Hobart on REIWA business confirmed to me
that the WA property market is grossly under-valued when compared to the
eastern states. The hit ABC television series, Rosehaven, starring Logie Award
winner, Luke McGregor sartorially portrays life in regional Tasmania from the
perspective of a parochial real estate agency in a small town. The fictional agency
is loosely based on Luke’s … Read the full post »

Get Your Price Right

A significant proportion of property sellers discount their
property in order to sell. This is because most property owners have an
expectation that their property is worth more than the market sentiment and
agents have a fiduciary responsibility to maximise the selling price.

The current market conditions make it imperative to ensure
buyers activity engage with a newly listed property … Read the full post »

Foreign Buyer Tax Must Go

On the lazy pretext of “everyone else is doing it”, the
McGowan government introduced a new tax on foreign buyers of property as a way
of raising additional revenue. About $123 million is expected to be raised over
the forward estimates by charging foreigners an extra 7 per cent transfer duty
on top of the original stamp duty normally payable. This extra revenue was
designed to off-set any raises in TAFE fees which, … Read the full post »

Choose your Agent on their Merit

When the time comes to
sell or lease your property, would-be vendors and landlords increasingly look
to the internet to help shortlist agents that might meet their needs.

Well established
methods of choosing your agent such as re-employing an agent previously used,
adverts in the Herald, recommendations from friends and relatives or visiting
Home Opens to meet agents remain effective methods.

In the on-line space,
REIWA offers reiwa.com … Read the full post »

Getting Back Your Bond

When taking on a residential tenancy, the owner normally requires the tenant to pay a security bond equivalent to four weeks’ rent. The law forbids owners from requiring an amount higher than this figure but it is not mandatory that one be paid.

The bond must be paid to the government run Bond Administrator as soon … Read the full post »

Pre-Purchase Building Inspections

Almost invariably,
buyers of an established residential property seek to include in their offer a
clause that protects them from unbeknownst building defects.

This is fair enough
although buyers need to be aware that the pre-purchase structural inspection
condition used by REIWA members is limited to that which is contained within
Australian Standard AS 4349-2007. The standard is designed to identify structural faults only, expressly
excluding building elements such as roof … Read the full post »

Playing the Renting Game

By Hayden Groves –

Last week’s front page of the Herald featured Steve Grant’s, “The roll of the dice”, a story about an emerging entrepreneur who’s invented a card game premised upon her experiences as a renter. According to Steve, the game is designed to highlight “WA’s unfair tenancy laws” a sentiment supported by Fremantle councillor Rachel Pemberton.

Cr Pemberton is co-ordinator of a … Read the full post »

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