Understanding pre-approval
Lending has changed dramatically since I was a mortgage broker, (over a decade ago). Since the GFC we’ve experienced a credit crunch, a pandemic, a large number of first home buyer incentives, and a proliferation of online lending resources. Banks have always traditionally provided their customers a pre-approval service, but pre-approvals are not what they…
Characterful Castlemaine
This past fortnight has been interesting for Australian property investors who have been keeping an eye on the news feed. Reports have come to light, showing that many of our nation’s regions are experiencing stronger than expected capital growth. Typically, our regions have delivered stronger rental yields and moderated capital growth. Investors who prefer to…
Our kids’ financial literacy
We all want to ensure our children are equipped to make sound financial decisions as they grow up and navigate life, and I’ve consistently felt that our schools don’t teach very much about fiscal responsibility in the primary and middle school syllabus. Teaching our children about money is a well-canvased discussion and many people have…
The school zone surcharge
We often have briefs from our clients that focus on school zones. Many are homebuyer clients, but this quest isn’t just restricted to home searches. Investors often list this as a criteria too. There have been many articles and media stories about the value growth that certain premium public school suburbs have experienced, and it…
What are secret sales?
We’ve traditionally referred to secret sales as off-market sales. Our business has consistently tracked at around 25% for off-market acquisitions over the past years, but COVID-19 changed the real estate selling environment considerably. Our secret sales are now sitting at 50% since COVID-19 struck our shores. The interesting change relates to how agents are now…
What are ‘early market indicators’?
In this current climate, we have experienced an adjustment to the way in which we use data to measure the state of our property market. Traditionally, we have always been able to rely on a combination of; auction clearance rate, days on market, median house price movement, and transaction numbers. With auctions only just resuming,…
How to avert mistakes if you want to *rent* out your former home
This week I finally managed to coordinate my industry friend, Mike Mortlock to join me on a quick zoom interview. Mike is a Quantity Surveyor and runs a national tax depreciation business, and aside from being a numbers guru, his self-depricating jokes and quick humour make him one of my favourite ‘think-on-their-feet’ presenters. So when…
11 things to be aware of with off-the-plan high rise apartment purchases
Many buyers turn to off-the-plan, high rise apartment purchases for several reasons. Low deposits, enticing extra items thrown in, and that amazing feeling of sparkling new are just some of the reasons. For investors, the depreciation benefits can be significant for cashflow and holding costs. There are some issues for buyers to be mindful of,…
What is COVID-19 doing to our home criteria?
Lately we’ve been fielding increased enquiry from property purchasers who are considering the regions. These enquiries aren’t restricted to investors, either. In fact, the majority of these enquiries are home finders. We are currently searching for homes for clients in Ballarat, Geelong, and Castlemaine. We’ve had recent enquiries spanning Kyneton, Woodend, Drysdale, Red Hill, and…
When to time a bargain
I remember Friday 13th March well. We all woke up to the p-word. Pandemic. The world health organisation had declared it, and it wasn’t until that point that things really started to feel more serious for us. In the real estate world, our introduction to the pandemic was the elbow-touch. As a relatively friendly and…
Geelong, our next one to watch?
I don’t often talk about hotspots, in fact we are cautious to contemplate hotspots while our market is experiencing such an unusual force at the moment. As COVID-19 restrictions challenge how we now conduct our day to day lives, we also have to think about what we’ve learnt, how we’ve adapted and what impact our…
How will COVID-19 affect market SEGMENTS?
This week we have spotted some ‘forecasted’ price drops in the media with claims of some 20-30% likely to impact our markets. We are not seeing any such signs in our current markets. There is no doubt that COVID-19 will have an impact on segments of our market, but it is important for us to…
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