Archive for Real Estate Agent

Good opportunity for buyers near Perth’s inner city

Good opportunity for buyers near Perth’s inner cityNEW
09 September 2017
Author: REIWA President Hayden Groves

If you were to ask people in Sydney or Melbourne whether it was possible to secure a house – not just an apartment, but a house – within 10 kilometres of the CBD for under $500,000, you’d likely be met with mirth.

Purchasing any property in Sydney or Melbourne for under $500,000 is challenging, let alone finding a property for that price just a few kilometres away from the city. It’s this point of difference that keeps the dream of home ownership alive for many more people in Western Australia than it does in other parts of the country.

For instance, unlike the major markets on the east coast, you don’t need to move miles away from the city to be able to get onto the property ladder. There are numerous suburbs within 10 kilometres of the city that offer fantastic value to savvy buyers and investors.

Perth’s 10 cheapest suburbs within 10 kilometres of the CBD
A recent report by reiwa.com revealed Perth’s 10 cheapest suburbs within 10 kilometres of the city. Nollamara, located 10 kilometres north of the CBD, took out first spot with a median house price of $410,000 for the year to June 2017. This is extraordinarily good value, and doesn’t even factor the suburb’s lower quartile price, which sits at $375,000.

Other suburbs to make the list were Cloverdale, Belmont, Redcliffe, Bentley, Embleton, Osborne Park, Kewdale, Morley and Carlisle. And of these 10 suburbs, seven were located east of the city.

The eastern corridor of Perth’s inner city is a growing area that presents particularly good value. With the Perth Stadium and surrounding infrastructure nearing completion, the opportunity is certainly there for savvy buyers and investors to purchase in a fast growing area at a relatively affordable price.

Get in quick!
We are very lucky here in Perth that there are still great bargains to be had in and around the CBD, but as WA’s population inevitably grows, it is unlikely inner city living will remain this attainable. By 2050, the state’s population is expected to have almost doubled, and as we’ve seen in most major cities around the world, as population density increases so too does the cost of real estate.

The Perth property market currently favours buyers, but property markets are cyclical and conditions will change. With signs emerging that we may have finally found, or be close to finding, the ‘floor’ of our local housing market, I would advise buyers to act sooner rather than later if you’re wanting to secure an affordable house close to the city.

Speak to a local REIWA agent in your area to discuss the options available to you.

Perth rental market subdued in June quarter, but annual leasing figures remain strong

Leasing activity in Perth was more subdued in the June quarter than it was in the March quarter, but when compared to the same time in 2016 reiwa.com data shows leasing levels in Perth increased by six per cent.

REIWA President Hayden Groves said although activity had dropped off across the metro area in the three months to June, annual activity levels had continued to improve.

“The data for the June quarter 2017 clearly shows an uptick in activity on an annual basis across the board, which is pleasing. We’re seeing notably more properties being leased now than we were this time last year.

“All five sub-regions saw lifts in their annual activity levels. The stand out performers were the South East and Central sub-regions, which improved by 10.5 per cent and 6.6 per cent respectively when comparing June quarter 2017 to June quarter 2016,” Mr Groves said.

Despite Perth experiencing a decline in activity on a quarterly basis, there were a number of suburbs throughout the metro area which saw the volume of leased rentals increase over the quarter.

“Huntingdale, Booragoon, Bedford, Aubin Grove and Sorrento saw the biggest improvement in leasing activity in the three months to June 2017,” Mr Groves said.

Median rent price
Perth’s overall median rent price softened in the June quarter, edging back slightly to $350 per week from $360 in the March quarter.

Mr Groves said this was a trend felt across each of the sub-regions, but a number of suburbs had stood out over the quarter, recording increases in their overall median rent price.

“Karrinyup in the Central sub-region was the best performing suburb for rent price, with its overall median lifting to $570 per week for the three months to June.

“Other suburbs to record positive growth to their median rent prices were Booragoon, East Fremantle, Mount Pleasant and Mindarie,” Mr Groves said.

reiwa.com data shows the median house rent price for the three months to June came in at $360 per week, while Perth’s median unit price was recorded at $330 per week.

Average leasing days
It took an average of 52 days for Perth landlords to secure a tenant for their rental in the June quarter.

Mr Groves said the figure recorded for the three months to June was fairly steady on the March quarter, having only increased by one day.

“This stability was felt across all sub-regions, with only minor changes recorded in the average leasing day figure for the June quarter. The North West sub-region was the only sub-region to experience a reduction in the number of days it took to lease a property, while the South East sub-region saw no change,” Mr Groves said.
Transcript from REIWA

Thank you for your testimonial

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I have just received a testimonial from my adorable seller through ‘Rate My Agent’. Thank you Mr. Milloy!

It was a hard journey but i’m happy to have accomplished the job.
It is very rewarding to receive testimonials from clients and I have published them from time to time.
The most important thing in this business of selling real-estate is the trust that the sellers have for the agent. And most importantly it is that the agent does not break that trust.
I do “whatever it takes” to sell a property but I am ALWAYS fair with the buyers.
I have a slogan that I think that really works:
“Listen to all of their Real Estate needs”
This slogan is self explanatory.
Just listen and make sure you can satisfy their needs.
It works for the buyers too.
If you listen you will find out what they are looking for, and when you have a property coming to the market let your buyers know and give them the “first right of refusal”.
They are the BEST advocates for your career.
Thank you again Mr. Milloy.
You made my day!

Changes in Real Estate concerning Sellers for properties over $750.000,00

As from July 1, 2017 the changes to this legislation will apply to contracts entered into on or after 1 July 2017 for real property disposals where the contract price is $750,000 or more. Contracts entered into prior to July 1 are exempt
The following matters should be noted:
1. Rules will apply to sales at $750,000 and above.
2. The Buyer has an obligation to deduct 12.50% withholding tax on the sale price unless the seller can supply a FOREIGN RESIDENT CAPITAL GAINS WITHHOLDING CLEARANCE CERTIFICATE.
3. If it is partnership selling the property then all the partners must apply for a clearance certificate in their own name.
4. If it is a trust or superannuation fund selling the property then the trustees must apply for the clearance certificate in the Trustees’ name. 5. Clearance certificates once granted only are valid for a twelve month period What makes this requirement confusing as the name given to these certificates, because it is in fact Australian residents who need to apply for the clearance certificate so that tax is not deducted at the time of sale.
It is imperative that you give this advise to all your Sellers.

It is best to have the Sellers acknowledge this requirement has been brought to their attention and if they wish to obtain further information they should address their enquiries to the Australian Taxation Office.
Nevertheless we should ensure that we have informed the Seller/s of the ATO requirement.

Furthermore all the Agents have an obligation to bring this requirement to the attention of a Buyer.
All the Agencies should have the appropriate forms to inform Sellers and Buyers

My birthday is coming up on August 14th. It is a big one: what do I want? Listings! Can you help?

Houses, duplexes, investments, blocks, anything. I want to sell them all!

Why would you give them to me?

I would like to answer that is your trust in me that will bring you the premium price for your asset.

I am refreshed, charged up after a long holiday visiting relatives and ready to work for another 3 years to be able to go back and visit my family again. In the meantime I want to my to keep myself busy doing what I do best: selling real-estate.

How about making it your gift to me?

Call anytime and I will be there before you can say ‘Jump!’ Appraisals are still free if you wish only to find out how much your property is worth. Maybe you have a friend that you can refer to me?

Or if you want just a chat about anything related to real-estate, like refinancing, renting, house-sitting, market statistics, interest rates, if you’re wondering ‘shall I sell, develop, or sit on it?’

What can I see in my crystal ball in the future?
Hmmmm….

I am a call away: 0416188752

Stamp Duty axed for first home buyers!

On June 1st, NSW premier Gladys Berejiklian announced that first home buyers across the state will be exempt from paying stamp duty on existing and new homes up to $650,000. There will also be stamp duty concessions for properties between $650,000 and $800,000.

The changes, which will come into effect 1st July 2017, also include a $10,000 grant for builders of new homes up to $750,000, and purchasers of new properties worth up to $600,000. The previous $5000 New Home Grant Scheme will end.

As part of the reform to address housing affordability, the government has said that the stamp duty charged on lender’s mortgage insurance will also be abolished. For an individual with $50,000 in savings looking to purchase a $800,000 home, this could mean saving approximately $2900.

Foreign investment

In an effort to slow down the competition first home buyers face, foreign investors will now pay double the stamp duty surcharge – from 4% to 8% – and land tax will increase from 0.75% to 2%.

Investors

To decelerate investor competition for first home buyers in entering the market, the government will axe the ability for investors to defer paying stamp duty on residential off the plan purchases,

In addition, the State government has committed to increasing the supply of land as a means to tackle the current constraints, adding that $3 billion will be invested in infrastructure.

The exemption, is said to benefit about 25,000 first home buyers every year, with an average of $8000 worth of savings for new or existing homes.

Across from a park!

Oops! I think by the time you read this newsletter the house will be sold. Listed and sold in 6 days. It is a record in today’s market.

Situated on a corner block, across from Seacrest Park, some ocean glimpses from kitchen window. Fabulous double car garage to house 5 cars.

Accommodation consists of a large master bedroom with separate en suite, reasonable size walk-in robe. Additionally there are three bedrooms, 2 of which equipped with double wardrobes and the fourth bedroom can also have multiple uses like office ( working from home), hairdressing salon or activity area with access from garage. 2 bathrooms and study.

This family home is perfect for outdoor entertaining, with sufficient space for the new owners to install a pool, allowing you to enjoy the company of others.

Approved plans to build up and enjoy the most fantastic views of park and the ocean.

There is nothing left to do but move in and bask in the Sorrento lifestyle, which is ideally located in close proximity to public transport, prestigious schools and the tantalising tastes and sounds of this beachside suburb. Around the corner from Sacred Heart College.

The main hub is a combined family and meals zone that benefits from an open-plan layout and is where most of your casual time will be spent, flowing on from a stunning kitchen that is loaded with extensive storage options and comprises of an island work and breakfast bench, dishwasher,a double sink, a commercial range hood.

Walk to a plethora of local parklands, as well as the nearby Sorrento Medical Centre and Harman Road Medical Centre, whilst Sorrento Primary School, Sacred Heart College, Seacrest Park’s lush playing fields, Hillarys Boat Harbour, beaches, Sorrento and Marmion, popular cafes, award-winning restaurants, public transport and convenient freeway access are all only a matter of minutes away from this very special residence. The coast is clear – make your move, today!

FEATURES;

· 4 bedrooms

· 2 bathrooms

· Study

· 3 split reverse cycle air conditioning

· Garage for 5 cars

· Hardwood floors throughout

· Sunken Lounge and Family room

· Bedroom/office/activity area

· Aproved plans to build up

Open Negotiation new trendy way to sell your home is quick and easy?

OPEN NEGOTIATION

YOU MUST HAVE YOUR TERMS AND CONDITIONS APPROVED IN ORDER TO PURCHASE THIS HOME

What is Open & Transparent Negotiation?
It is a new way of buying Real Estate which combines the best aspects of Auction, Private Treaty and End Date Sale into one fair and open buying process. Approved buyers compete for the property from the comfort of their own home, being constantly informed throughout the process of any new prices until the highest unchallenged price is accepted.- making for a totally transparent sale process.

What do you need to do?

All you need to do is submit your offer terms and conditions via the Agent. (This is include your settlement period, finance clauses, deposit amount, etc) and your starting price. If the seller approves your terms you are then qualified to take part in the negotiation process along with other approved buyers.

If you are interested in this home, it is strongly recommended that you submit your terms for approval as soon as possible. If a starting price is submitted that is acceptable to the seller, the Agent may start the Open Negotiation early (before the nominated sale date). If you don’t have your terms and conditions approved-you will not be notified of the early negotiation and will miss out on the chance to participate

The Benefits:

YOU CAN SET THE ADVERTISED PRICE.
• The first buyer to have his terms accepted sets the “advertised price” for the property with their starting price.

TOTAL TRANSPARENCY
• You are notified of any new buyers and prices so you know exactly what you are competing against.

YOU ARE NOT LOCKED IN
• Unless your price is accepted and signed off by the seller you can withdraw from the Transparent Negotiation at any time.

IT’S QUICK AND EASY
• It does not cost anything to get approved and only takes around 10 minutes to complete the appropriate forms with the selling agent.
Until now, buying Real Estate has been limited to traditional processes often leaving buyers frustrated and confused.
OpennNegotiation will change this forever by creating one fair and open process. Using the revolutionary Openn App, approved buyers compete for the property from the comfort of their own homes. The whole process is completely transparent and that is a big win for everybody.
This is a transcript directly from Openn Negotiation which I have been attending the training for this marvellous process.

A new trend or a new way to sell your property: Open Negotiation

It is like an Auction but more transparent. You bid online or with your Agent.
The benefits of why buyers would get themselves registered straight away and not wait until a week before the Open Negotiation starts.

This is what we say to them is… ‘the benefit for you registering today is if the owner accepts your terms and conditions and we sign off on those terms, this means you are ready to participate in three to four weeks.

If someone then puts in an offer that the owner actually would like to accept as early as tomorrow, the sale could start earlier. By being Terms Accepted this means we cannot sell the property to that person without letting you know. You will then be able to compete with that person on the home you love because we can start the Open Negotiation early.’

That is the benefit for buyers to get involved straightaway and to get their terms and conditions accepted as soon as possible so that they don’t miss out on the property. It costs them nothing to be able to register and you only pay your deposit should he be successful. There is absolutely no cost in securing your position to make sure you don’t miss out on the property.’

Hopefully that has been of help to you today and hope you can call me to your home and we can have a chat in Open Negotiation.

Regards

Lots buyers around. What are they waiting for to submit an offer?

I have been driving around the coastal suburbs and I am amazed by the numbers of properties on the market that have not been sold yet.
Superb properties!
Great prices!
And buyers are not moving on them!
What are they waiting for?
Trump? That is old news and far away.
Mining boom?
That is gone and not coming back!
Jobs?
A lots of jobs around but not same salary as it was before GFC.
Real Estate sells in ANY MARKET.
People move because they’re…
Downsizing in size
Downsizing mortgage
Upsizing for new babies or parents moving in
Change of schools
Moving closer to family
Retiring, etc, etc, etc.
So, there is never a “bad market” only you may not get your price because you are chasing the market down.
Be smart! Sell today. Tomorrow may cost you thousands of more dollars to sell what you should have sold 3 months ago.
Good luck!

A bedsitter in the Lodge of Seacrest Village

Meet me at the lounge and I will take you around to visit this fabulous bedsitter, freshly painted, new carpets and great courtyard overlooking park bush.

The good thing when you decide to sell your unit in Seacrest Village is that you don’t have to leave 33% behind. All the money from the sales is 100% yours.

This is a smashing unit for downsizing in style. No steps, no elevator. Walk to the Lodge and carry on to the right up to number 119.

There is a caretaker who looks after the grounds in the whole complex.
Swimming pool and the bowling green for your entertainment.
The good thing about Seacrest Retirement Village is that still there is a Bus run to the Shopping Centre. So, hop on the Bus and do your shopping.
Seacrest Retirement complex – it is a place to relax, make friends, enjoy your lifestyle.

Strata Monthly levies for this unit are $137.00 plus $80.00 special levies