Archive for Selling

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.

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.

Wow! Sold within 6 days before sneak preview. No home open!

Going for holidays to Brazil and will get in touch when I get back for all your Real Estate needs.

Oops! I think by the time you read this newsletter the house will be sold.
And it is!
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

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.

Interest rates this Month unchanged. RBA kept it on hold

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Interest rate update from the RBA today

April 4, 2017

The RBA have decided to keep cash rates unchanged today.

april

The REIQ welcomes the RBA decision to leave cash rates on hold at the current historic low of 1.5 per cent.

REIQ CEO Antonia Mercorella said the housing market throughout Queensland, and most of the country, would benefit from continued low rates.

“Our economy in regional Queensland is far from strong and giving people access to affordable loans is a key part in strengthening the housing market, which underpins the broader regional economy,” she said.

Conditions in the global economy have improved over recent months. Both global trade and industrial production have picked up. Labour markets have tightened in many countries. Above-trend growth is expected in a number of advanced economies, although uncertainties remain. In China, growth is being supported by higher spending on infrastructure and property construction. This composition of growth and the rapid increase in borrowing mean that the medium-term risks to Chinese growth remain. The improvement in the global economy has contributed to higher commodity prices, which are providing a significant boost to Australia’s national income.

Headline inflation rates have moved higher in most countries, partly reflecting the higher commodity prices. Core inflation remains low. Long-term bond yields are higher than last year, although in a historical context they remain low. Interest rates have increased in the United States and there is no longer an expectation of additional monetary easing in other major economies. Financial markets have been functioning effectively.

The Australian economy is continuing its transition following the end of the mining investment boom. Recent data are consistent with ongoing moderate growth. Most measures of business confidence are at, or above, average and non-mining business investment has risen over the past year. At the same time, some indicators of conditions in the labour market have softened recently. In particular, the unemployment rate has moved a little higher and employment growth is modest. The various forward-looking indicators still point to continued growth in employment over the period ahead. Wage growth remains slow.

The outlook continues to be supported by the low level of interest rates. Lenders have recently announced increases in mortgage rates, particularly those paid by investors. Financial institutions remain in a good position to lend. The depreciation of the exchange rate since 2013 has also assisted the economy in its transition following the mining investment boom. An appreciating exchange rate would complicate this adjustment.

Inflation remains quite low. Headline inflation is expected to pick up over the course of 2017 to be above 2 per cent. The rise in underlying inflation is expected to be a bit more gradual with growth in labour costs remaining subdued.

Conditions in the housing market continue to vary considerably around the country. In some markets, conditions are strong and prices are rising briskly. In other markets, prices are declining. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Growth in rents is the slowest for two decades.

Growth in household borrowing, largely to purchase housing, continues to outpace growth in household income. By reinforcing strong lending standards, the recently announced supervisory measures should help address the risks associated with high and rising levels of indebtedness. Lenders need to ensure that the serviceability metrics that they use are appropriate for current conditions. A reduced reliance on interest-only housing loans in the Australian market would also be a positive development.

Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

Need a retirement unit at Seacrest Village?

Situated at the end of the Lodge and nothing build on top offering 1 large bedroom, 1 bathroom with shower and a very spacious kitchen, meals and lounge.

Overlooking greenery and having a delightful covered courtyard.
Easy access to Library, Swimming pool and the very popular bowling green.

It is ready for possession.
Asking $235.000
Usually home Opens on the weekend but available during the week by appointment.
I am one phone call away: 0416188752

You can also buy as investment.

Home Open Marathon at the Seacrest Village.

Sunday from 12 to 1pm I will be available at the Lodge in Seacrest Village to take you around to view all the bedsitters priced at $155.000 and all the 1 bedroom units priced at $235.000 and $249.000
They are all delightful units and each offers their own stamp of ownership.
You have to come and put your own stamp to call it “home”.
Seacrest Village is a lifestyle for the ones that are looking to downsize not only in house size but also housework.
Seacrest Village you don’t have to work the garden or the pool. Only your own place but you have all the amenities to enjoy.
You can also buy today, rent it out and keep for your future retirement.