Posts Tagged ‘Hayden Groves’

Don’t Wait – Buy Now

As predicted, the McGowan government’s decision to extend the emergency response provisions of the Residential Tenancies Act (RTA) now to end in late March has helped shape a rental shortage into a rental crisis.

A potent combination of subdued investor activity for several years, massive foreign investment taxes, subdued yields and capital value losses has combined with strong repatriation demand from West Australians returning home … Read the full post »

Presenting Your Home For Sale

Not unlike a first date, first impressions count. Just as you would dress to impress, smell lovely and chew with your mouth closed, presenting your home for sale ought to be preened with the same level of care.

It is a good idea to get around to completing those jobs around the house that you had been intending to do for years. Build that garden … Read the full post »

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 »

Buyers Competing

By Hayden Groves

Property listings in the Greater Fremantle area are down 34 percent on this time last year and with sales volumes up by a similar margin, it is hardly surprising that buyers 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 … Read the full post »

Is the Property Boom On?

After predicting the bottom of the market in 2017, I put that crystal ball out for verge collection and got myself a new one. Local property values have been dribbling along a very long bottom since 2015 with 63 consecutive months of negative or flat growth since that time. Buyers had been hard to find with 2018 and 2019 returning the lowest levels of sales activity for thirty … Read the full post »

Getting Back Your Bond

When taking on a residential tenancy, it is common for the owner to require the tenant to pay a security bond an amount normally equivalent to four weeks’ rent. 

The bond must be paid to the government Bond Administrator, a specific government managed trust account. There are severe penalties for those that fail to comply with this provision. Obviously, the purpose of the bond is … Read the full post »

Blame Me

By Hayden Groves

Several years ago, local real estate agent (now retired) Peter Sim, boldly ran full page advertisements in the local press headed, “Blame Me.” Why Peter was standing in his suit up to his ankles in the Swan River, I couldn’t tell but the message was on point; an agent acting for a client (the Principal) must take responsibility even when things go … Read the full post »

McGowan Makes Mistake

Late last week, the McGowan government extended the Emergency Response provisions of the Residential Tenancies Act for a further six months.

Unfortunately, this decision has nothing to do with protecting tenants impacted by COVID-19 as proven by the fact less than two per cent of residential tenancies are affected.

To date, the conciliation service provided through the Department of Consumer Protection, set … Read the full post »

Perfect Time to Buy or Rent

The Real Estate Institute of Australia released their quarterly Housing Affordability Report last week revealing that WA remains the most affordable state in the nation to buy property. The proportion of family income required to meet mortgage repayments in WA fell last quarter to 24 per cent, down by 0.7 per cent from last year.

By comparison, New South Welshers commit an eye-watering 42.3 per … Read the full post »

COVID-19 Tenants – What Emergency?

The Residential Tenancies (COVID-19 Response) Bill 2020 (let’s call it the COVID-19 Act) has been with us since the pandemic threat initially emerged in April. It was rolled out rapidly in response to the anticipated health and economic damage the pandemic would cause to renters of residential properties in WA.Like most rushed legislation, the laws ended up being far from perfect and threw a blanket over all tenancies … Read the full post »

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