Archive for the ‘Uncategorized’ Category

Make your offer stand out

A recent dealing with a buyer we met got me thinking about how buyers typically approach negotiations when looking for property. Most are tempted to eagerly point out the property’s apparent – and often obvious – faults. Buyers often ‘talk down’ the home’s benefits and focus on its shortcomings in an apparent precursor to justify an initial low offer.

Pointing out a property’s faults or … Read the full post »

Supply Shortens

Listing levels across Perth are down to below 11,000 houses, apartments and lots for the first time in several years. By contrast, this time last year there were close to 16,000 listings. The fall in listing stock has been quite dramatic, falling by 600 listings in a month.

There are several reasons for this including a general lack of new stock coming into the market … 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 »

YAWN FEST BUDGET

Being locked in the windowless basement of Dumas House last week for Treasurer Wyatt’s state budget has some benefits. The coffee’s not bad, lunch is free and you have to hand in your mobile upon entry so it’s four blissful hours of relative quiet.

In the lead up to the budget I’ve been asking (well pleading really) with the Treasurer to introduce measures that’ll … Read the full post »

BUSH FIRE PRONE AREAS IN FREO

In recent years, state governments have recognised the need for local communities to be better prepared for bush fire events. The recent, life-taking devastation of wild fires in places like Yarloop, Kinglake and Esperance have prompted a variety of measures designed to save both property and lives. One of these measures has been to recognise areas that are prone to bush fire risk and identifying properties that lie within these … Read the full post »

MISSING MIDDLE

Disclaimer: These comments are the writer’s own and do not necessarily reflect the current opinions and policies of the Real Estate Institute of Western Australia.

In 2016, the City of Fremantle’s Council unanimously supported an initiative supporting infill development within the City’s suburban areas.

The concept is slowly gathering momentum and is designed to facilitate the construction of so-called “tiny houses” irrespective of the residential density … Read the full post »

CHOOSING YOUR AGENT

Disclaimer: These comments are the writer’s own and do not necessarily reflect the current opinions and policies of the Real Estate Institute of Western Australia.

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 … Read the full post »

MARKETING THE KEY

Disclaimer: These comments are the writer’s own and do not necessarily reflect the current opinions and policies of the Real Estate Institute of Western Australia.

With the local property market showing signs of recovery, the promotion and marketing of your property is critical in maximising the selling outcome. The marketing of property has always played an important role in achieving the highest possible price but when the number of properties available for … Read the full post »

BUYING “AS INSPECTED”

One of the most widely misunderstood elements of real estate practise is what condition should a property be in at settlement or possession.

In short, a property is sold “as inspected”. For example, if there was dust on a ceiling fan when you first inspected before contracting to buy then the fan can be dusty at settlement. The same goes for a dirty … Read the full post »

PURPLE BRICKS FOUND OUT

Disclaimer: These comments are the writer’s own and do not necessarily reflect the current opinions and policies of the Real Estate Institute of Western Australia.

I have used this column before to highlight the risks to the community of using Purple Bricks and other “pseudo agent” models when dealing in real estate. Back then I claimed that Purple Bricks and groups like them … Read the full post »

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