Archive for Sorrento

Dream Investment Opportunity

49/1 Padbury Circle
Sorrento, WA, 6020
Apartment:   1 / 1

Open Sunday 14th February 1:00pm – 1:30pm

ALL OFFERS CONSIDERED

Foreign Investors Welcome
This splendid spacious Luxury Spa Unit in the spectacularly located Sorrento Beach Resort is managed by the resort – so investors have no tenancy or maintenance worries!

It is a stress free investment set in the hub of the sea change life stylers environment.
Close to the excitement at Hillary s Boat Harbour and in an area that has a shortage of Short Term accommodation, this fabulously located complex is only steps from the ocean.Buy this and make an excellent addition to your Investment port folio or Super Scheme.

Gross income for the last financial year was $17,033

Call me for more information on 0416 188 752.

****** Please note that photographs are of a similar apartment of a similar standard and size.

The 2015 Launch of Summer Fireworks

To celebrate the arrival of the warmer weather, Sorrento Quay Boardwalk will host “The Launch of Summer Fireworks Show” at Hillarys Boat Harbour on Saturday 28th November 2015.

Set to ‘bigger and better’ than ever before, make sure to arrive early to get some dinner and find a great position for the 8pm show.

Best of all – this family friendly event is absolutely free and an alcohol free event!

Grab your family and friends and head down to Hillarys Boat Harbour this weekend and welcome Summer with a bang!

For Rent – Low maintenance property in Sorrento

Available for Rent – 4B Shark Court, Sorrento
$475 per week

This low maintenance 3 bedroom, 2 bathroom property is situated in Sorrento. This home is only minutes from the beach, cafe strip, parks and the very popular World Class Hillarys Marina.

Available now, if you would like to view this property please contact me on 0416 188 752.

How To Determine Your Sorrento Property’s Selling Appeal

The Department of Housing, jointly with the Department of Planning, in Australia, commissioned a rather large survey of property buyers. The objective was to identify the housing preferences of West Australians.

The study went deep into property buying patterns and queried 1000’s of real estate buyers and investors. The result of the study was a clear picture that every property seller was looking for (but could not find). It answered questions like: What type of housing do buyers prefer? What are they willing to sacrifice when their budget falls short? And more.

I read between the lines and came up with a list of factors that should help Sorrento property sellers determine their property’s selling appeal. Some information may seem obvious, but is important nevertheless.

Here we go: Factors That Will Help Determine A Sorrento Home’s Selling Capability (in order of importance)

1. Location: Couples and families preferred easy access to work because they perceived the time taken in commuting to be wasteful.

Families with children preferred buying a home that had easy access to their children’s school.

Singles and childless couples wanted easy access to nightlife so that they could save on taxi charges.

Older property buyers desired homes that were close to supermarkets and shopping areas. Many folks in this demographic wanted accessibility to public transport to reduce dependence on their own car. Older and working people who favoured driving their own car wanted ease of access (wide roads, easy accessibility to property) to the CBD.

2. Price: Though we are currently operating in a buyer’s market, the correction in home prices has likely been priced in.

The study was generated some time back, price has, is and will always be a major factor for investors (for obvious reasons) and a somewhat important factor for other buyers. Properties are now going at affordable rates and many experts reckon that now is the time to buy property especially in suburbs like Sorrento where home availability is gradually drying up.

A typical issue faced by most buyers is that they were unable to find a pleasant location within their budget. But that’s a universal problem and every buyer has to make a few trade-offs before striking the deal.

Though younger people preferred a house, they were okay in buying an apartment because it was within their budget.

Owner-occupied housing was preferred over rental housing – maybe because buyers felt that owners take better care of their properties (and they are right).

3. Neighbourhood: Factors such as lots of trees, a pleasant ambience, nice, friendly neighbours, area reputation, number of families living in the area, and quality of housing were evaluated by almost all home buyers. Newly developed areas were perceived to be of “low character” by most buyers.

It’s a no-brainer that there is a lot of noise in a neighbourhood full of singles. On the flipside, a neighbourhood full of families is most likely a calm and peaceful area.

4. Home Design and Features: House buyers also attached a lot of importance to indoor space and outdoor facilities.

Many buyers (and all investors) considered the property’s investment potential as very important.

Older properties in peaceful and populated areas were regarded as full of character and therefore as better investments.

Indoor design factors such as well placed rooms, fixtures, insulation, sun/breeze penetration, orientation, factors that help reduce the need for cooling/heating, rain water harvesting, and solar panels helped sellers bump up the price.

Pensioners, singles and those who live on fixed incomes generally avoided homes/apartments with high maintenance charges.

Migrants and younger people were willing to live in apartments — others preferred houses.

5. Detached Dwellings v/s Apartments: When this study was conducted, most buyers preferred detached dwellings over apartments. This holds true even today. Families with children wanted them to play outdoors and in close proximity.

Home buyers, and even investors, hated noisy areas and considered living in apartments as living in a “noisy zone.” However, people from other countries were okay with buying an apartment – they could live with the noise.

Many home buyers also did not prefer apartments because the strata fees were very high, though some buyers were okay with them because they got access to facilities like a swimming pool and a gym.

Renters, however, preferred apartments over detached dwellings. Renters also preferred a 2-bedroom apartment over a 1-bedroom unit because if the rents got too high, they could sublet one room to lessen the blow.

Older folks with grandchildren desired low maintenance charges and lots of space – which made for a difficult combination.

Older folks also did not prefer retirement living villages because their families would find these too far to pay a visit.

Reasons for buying a home (according to the same study)

There were many reasons why buyers were in the market to buy a home, and you may not have considered some of these:

  1. For investment purposes (most property experts reckon that Sorrento property prices will rise)
  2. They may have gotten a job in your location
  3. Because they were downsizing and want to move into a smaller home
  4. Because the home was situated in a better location (closer to public transport, school, work, nice neighbourhood, facilities, etc.)
  5. Personal circumstances (marriage, divorce)
  6. Having saved up enough, a renter may have wanted to become a buyer. Or maybe the buyer had reached that stage in life where he would be more comfortable if he had a roof over his head.
  7. If buying a home could have helped saving money.
  8. The new home was bigger and better – both outside and inside.

After reading this guide you will understand how home buyers think while evaluating your property in Sorrento or anywhere else.

Use this guide to figure out your home’s selling appeal and as a handy tool to understand buyer psychology – but do not forget to evaluate current market trends or talking to your real estate agent before setting your selling price.

How To Value Your Sorrento Property For Sale, Insurance and Remortgage

Sorrento property owners should evaluate its market price and replacement cost periodically because knowing the current market rates and trends will help them in different circumstances – like, selling their home or insuring or remortgaging it.  Let’s discuss each case in detail:

VALUATION FOR SALE OF PROPERTY

Every Sorrento property owner who’s out to sell his home desires the best possible price. This is but natural – sellers expect high rates while buyers dream of bargain prices. The deal is actually struck somewhere in between or close to the edges depending how ready or desperate the buyer or seller is.

If you are out to sell your home, then you should first arrive at its true market value. Here’s how you do that:

1.       Start by figuring out where the market’s at. You need to know whether buyers outnumber sellers or whether things are in reverse. You will be surprised to learn that despite the slowdown and the oversupply of homes in Perth, there are suburbs where listed properties have almost dried up. You also must figure out the average number of days it will take before your house is sold.

For example, it takes about 74 and 88 days for a Sorrento house and unit to sell, respectively. The median sale price is $1 million for houses and $440k for units. House prices have appreciated by 5% year on year, while unit prices have jumped 12% for the same period. This data tells us that the number of properties in Sorrento is limited and that the market values will either hold or move up slowly depending on the demand.

You also should check auction clearances.  The recent clearances in Western Australia were just 30% implying low sales and many passed-in properties. This percentage strictly does not imply that the demand for Sorrento homes is on the decline – Western Australia contains many areas and therefore interpreting the aggregate percentage could send the wrong signals to sellers based in Sorrento.

Your best source of information is your real estate agent. And hey, I’m assuming you are working with a professional with many years of experience.

If you are still left unsure, hire a licensed valuer. He will charge you money, but you will get an unbiased opinion.

These moves will help you arrive at the true current market value of your house or unit. Remember that knowledge is power, once you understand the market, no fancy sales talk or rumor on earth will make you budge from your asking price.

2.       Research the sold section on Sorrento-focused real estate sites. That will give you an idea of the current prices.

3.       Analyze the current interest rates. RBA’s (Australia’s Central Bank) current official cash rate is pegged at 2%. Mortgage loans are typically available at 2%-2.5% higher than RBA’s cash rate. Therefore, current home finance rates can vary between 4%-5.5% depending on borrower’s credit score and the financing institution.

Low rates induce people to borrow and invest in homes. Right now, the rates are low and therefore this seems like a good time to buy considering the fact that the market is sluggish.

Researching these factors will help you arrive at the fair market valuation. Next, you should set the lowest price you are willing to go down to and make a steely resolve not to go below that number.

VALUATION FOR REMORTGAGE

Remortgaging involves paying off your existing mortgage by obtaining a mortgage from another lender. It makes sense in the following circumstances:

1.       When interest rates have dropped dramatically over a period of time. For example, let’s assume you had obtained a mortgage in 2011 @ 7.5%. The rate these days is about 4%. If you remortgage now, you can save 3.5% which could save you 1000s of dollars in real terms.

It could turn out to be a bonanza if you get a low introductory rate for the first few years.

2.       Remortgaging also makes sense if your home’s market price has appreciated considerably. You can borrow extra and use the excess funds to fulfill other pressing needs too. Follow the guide contained in the last section to know how to determine the fair and current market value of your home.

3.       You also can consider a remortgage when you figure that interest rates will shoot up or when your current mortgage is about to end or when your lender refuses to accept an overpayment.

Before you decide to remortgage, know that there are costs involved. Mortgage closing costs can include prepaid charges (like loan originating fee), insurance, sales tax, stamps, other fees (underwriting, legal, courier, credit fee, and more), early closure fees, etc. Work these all out and ensure that you are getting into a winning situation before opting for a remortgage.

HOME VALUATION FOR INSURANCE

Home insurance at replacement cost valuation is extremely important. You must value your home at replacement cost and then insure it because underinsurance can place your finances at risk if something unforeseen does happen. Consider the following factors:

1.       Home building costs do not remain static or fall – they keep rising.

2.       Homes surrounded by a lot of fencing, or homes that are built on slopes are more expensive to rebuild.

3.       Replacement costs can also significantly vary depending on the contents and the quality of furnishings in your home.

4.       Every time you add to your home, you must re-evaluate its insurance.

You don’t need to arrive at the home’s selling price – all you need to do is determine its replacement value. If anything happens, the sum you receive from the insurance company will help you restore or rebuild your home back to its original state.

Here’s Help

Talk to us if you would like an appraisal on your Sorrento home for sale, mortgage or insurance purposes. Not only can we help you arrive at the fair selling price and fill you in with market data, we also can put you in touch with experienced and professional valuers, and recommend insurance companies.

How To Get The Best Price For Your Sorrento Property

It’s quickly becoming a buyers’ market out there and every buyer figures he can get the best deal for any Sorrento property listed for sale or elsewhere in Perth. Sellers outnumber buyers these days and therefore it’s common to see steep – to be politically incorrect, cutthroat – negotiations at the table. The going has especially gotten tough for sellers because there are many hardnosed property investors in the market. As you are aware, a skilled investor always talks his way into a top property at bargain basement prices.

In the middle of all this disturbing news, comes a ray of hope for Sorrento real estate sellers. That’s us – You have us by your side and here’s a quick guide on how to extract the best price for your property.

Hire an Experienced Professional

You don’t want a real estate agent who talks like a glib salesman, you don’t want an agent who talks too much, you don’t want an agent who hides key information and you don’t want an agent who is desperate to make a sale.

You want an experienced professional – An agent who talks straight and presents the right facts and figures on a salesman’s platter. Therefore, choose your agent with care.

Research the Market

You may want top dollar for your property, but will the market fulfill your desire? That’s one tough question. It is common knowledge that both buyers and sellers want the best deal. The truth lies somewhere in between.

You should research the latest sale trends like number of properties listed, properties sold, highest-lowest prices, days on market, and more. Reading between the lines will help you arrive at a true current market price of your home. Try to sell your property around this price, depending on your goals.

Okay, you now know the lowest price you want and you will not go below it. But have you factored in selling costs? Remember that you will have to pay some or all of the following:

Agent’s commission plus marketing expenses/Auction costs

  1. Selling and marketing costs
  2. Mortgage discharge
  3. Rates and taxes
  4. Settlement agent and legal fees
  5. Lender’s fees (early exit, settlement fee, etc.)
  6. Moving expenses
  7. Repairs, approvals if required
  8. GST, if any
  9. Outstanding bills

Work these out in advance to know how much you will actually get in hand. Always plan ahead and know that failing to plan is planning to fail.

Be Clinical, Not Emotional

Remember that a hardened real estate investor will never make an emotional decision and there are many investors looking to strike a bargain deal these days.

Therefore, as a seller, you must never make an emotional decision. Know your lowest selling price and try and get a higher number. You can negotiate all you want, but do not get emotional and always stick to your predetermined number, because you arrived at it after considerable research and feedback on the market from your agent.

Do not make hasty decisions as well. Always buy time and chew over the offer before accepting it. Rely on your agent’s advice too. If they figure there are many buyers for your type of property, then that’s all the more reason why you should not jump at the first offer.

Did We Just Say Emotional?

  1. Heck, we’re asking you not to get emotional or make hasty decisions, but you can always do things that will make the buyer all emotional and hasty.
  2. Do this to make the buyer fall in love with your house (and rush into an emotional decision):
  3. Get your Sorrento home ready for sale by fixing up all imperfections. Fix chipped paint work, dripping taps, broken tiles on the roof, blocked/overflowing drains, guttering, and other stuff, as needed.
  4. Create a solid first impression by ensuring a well-kept, cute garden, fence and pathway.
  5. Replace doorknobs and taps, if required.
  6. Remove all clutter and make your home look neat, tidy and cozy. Organize furniture and stuff in all the rooms and make them look appealing.
  7. The buyer should smell freshly baked bread or coffee when they walks in. He must not whiff on sharp or strong food odors.
  8. Keep the bathrooms dry, put in place the shower curtain, and add a flower pot to make for an aesthetic look.
  9. Restore old furniture and fittings as needed.

Decided to Auction Your Sorrento Home?

If you’ve decided to auction your home because you just do not want to go through the negotiation process, then you must be prepared for it. The best way to prepare for a home auction is to understand how auctions work. Therefore, you should attend a few auctions to understand the pros and cons.

You also must consult your agent, keep all documents ready and read the fine print in the contract.

Set your lowest selling price as the reserve price and spend judiciously on marketing. However, know that investors take part in auctions and therefore your property may receive low bids. It may also get “passed in.” If this happens then the true market value of your home may run into very rough weather. You should think things through or take your agent’s advice before deciding to auction your home.

The Negotiating Table

An investor is usually a skilled negotiator who’s done his homework. He probably knows why you are selling your Sorrento house, whether you are testing the market, and how many offers you have received.

He will likely not throw a very low number at you because that will make you aggressive and angry. He sure will make a low offer though – but he will make an offer that seems fair. He also may offer you his reasons, which you will find reasonable.

However, our advice to you is not to jump at the offer. Like we said earlier, consider the offer, maybe shortlist it, and ask for time to make a decision.

Conclusion

Though the mining boom is over in Perth and there is an oversupply of real estate, the good news is that experts reckon that the market has almost bottomed out. It is a matter of time before it starts consolidating. Therefore, do not rush to sell your Sorrento property at rock bottom rates. Follow the tips above and hire an experienced real estate agent who knows Sorrento like the back of their hand and seek their guidance to get a great value for your home.

Sorrento Living releases new Interactive Market Research for Sorrento

If you are looking to buy or sell in Sorrento and want to do some research then you don’t have to go far.

Thanks to EasyPropertyListings, Sorrento Living now has an interactive market research tool that shows all sales in Sorrento as far back as 2013.

With a simple click of the button you can find properties sold in any street and get the list price, sold price and sold date and how long it was on the market for.

Simply go to Sorrento Market Update and create an account for instant access whenever you want day or night, Sunday or Monday. You will need to check you email for your access but it is as simple as that.

If you would like any further informations or have any questions, please feel free to contact me on 0416 188 752.

 

Are you a holiday renter and looking for a 6 month holiday home away from home?

My friends live in Sorrento and want to rent their home while they are in Europe.

They will not be looking for a massive amount of weekly rent and they have no pets, so the house does not need to be looked after.

If you are thinking of having a “holiday from your own home” or if you are building a house and have sold yours or if you need a place for 6 Month only, totally furnished, here is a possibility.

It is a double storey home in Sorrento and close to all amenities with a park close by, bus stop only a short walk and the Marina isn’t far either.

My friends are leaving next year around March to June and staying away for 6 Months so you have time to prepare and organise your thinking.

Let me know in the comments below or email me at alycee.barrett@raywhite.com and I will send the information to my friends to contact you.

Grand Opening – 66 Clontarf Street, Sorrento

This is your chance to live in a most popular leafy old Sorrento street. Enjoy the short distance walks to beach, swimming, reef pools, cafe strips and vibrant popular Hillarys Marina, parks and reserves.

It is an enjoyable life around here with great, caring and friendly neighbours 3 x 1 level 712m2 block with rear lane access.

The proud owners of this investment property are sad to part with it as memories of the past lives in that little cosy home. Now is time to look at new horizons so this home has to go so they can make their dream come true.

Nothing currently scheduled for inspection, please check back later.

66 Clontarf Street Sorrento is now on the Market. Invest or nest in this beautiful location

There is truth to the saying “When one door closes, another one opens” and in this instance it really is true.

The property at 64 Clontarf Street, Sorrento is now Sold but the property next door at 66 Clontarf Street, Sorrento is now For Sale.

If you missed out one the first, then this is your lucky day and you have a second chance to buy in the fabulous street in the well sought after suburb of Sorrento.

You must call for a private viewing as it will not be on the net for another 3 weeks so this is your chance to be first to view and buy.

66 Clontarf Street, Sorrento WA 6020-21Just Listed – Private Viewings Only!

This is your chance to live in a most popular leafy old Sorrento street. Enjoy the short distance walks to beach, swimming, reef pools, cafe strips and vibrant popular Hillarys Marina, parks and reserves.

It is an enjoyable life around here with great, caring and friendly neighbours 3 x 1 level 712m2 block with rear lane access. Read More…

Renovated Padbury Circle 2 bedroom unit for $420pw available now!

Situated on Padbury Circle, Sorrento and right across from a park with ocean glimpses from the lounge and ocean views from the front porch it makes me think that I could live here, in my “Old age”.

Over the years and a few tenants I have been fixing the plumbing and other bits and pieces and decided I had enough of fixing and it’s time for some upgrades.

Recently renovated bathroom, laundry and also kitchen floors and freshly painted throughout,  this unit is waiting for a fresh start with new tenants that is just a stroll from the beach and all the cafes.

If your interested in seeing this please call me on 0416 188 752.