Zoning absolutely matters
Over the past week I’ve had two prospective clients ask me about the suitability of their property selections as they canvas the market for their home. My responses to both were very similar. “I don’t recommend it at all.” My reason was all about the zoning of the property. Unlike some of my words of caution where…
The Quote Range, the Reserve and the Statement of Information….
Like no other real estate topic, this one gets hearts pumping and sometimes tempers frayed. So many people misunderstand the legal rules though, and in particular the relationship between the three. This is understandable, particularly given we’ve had recent changes to our Victorian legislation around how agencies can represent a price expectation on a property…
What’s your ‘why’?
I presented recently to a crowd of interested property investors and as I always find, the answers at the end of the presentation were varied and thought-provoking. People often ask situational questions that give me an insight into what they are considering, what they’ve already signed up for, or what has perhaps frightened them. It’s no…
The importance of saying no…
After four straight years of strong performance, heady auction results and highly competitive buying conditions, Melbourne’s market pace has finally slowed down to a more balanced market. What felt like the run-that-would-never-stop has been tackled by APRA (our prudential regulator) and our auction clearance still sits above 60%; technically not quite a buyer’s market, but…
Property Investor or Property Speculator?
There are multiple property investment strategies out there and while some Advisors have a preference for a specific strategy, there is no right or wrong answer, provided the investor achieves a suitable outcome. The differences in strategies revolve around how the debt is treated. It is either retired passively, retired in measured increments, or it…
Old Pubs…
Many of us love a nice old pub… but what about when it comes to buying one? This week’s exciting finalisation of a converted pub purchase in Ballarat bought many emotions and considerations to the table and it made me consider all of the reasons why pubs raise so many questions yet are such rewarding capital…
When an emotional decision overrules
We say it often to clients. “This is a financial decision and you need to separate emotion from the process.” It might be the selection of an investment property that matches all of the criteria set by the strategy, or it could be the avoidance of a home purchase due to a fundamental issue that…
Five compelling reasons to buy west…
This weekend we proudly represented four clients with purchase attempts, two successfully, and interestingly, both were in the same suburb and each had some commonality. Both were double storey townhouses in Newport, and both were priced in the 6’s. Our first successful purchaser came to us with a desired investment budget of circa-$600,000 and a…
Is your finance REALLY approved?
In late 2014 our prudential regulator warned banks that the percentage of investment loans needed to decrease. Months later, APRA instigated some tough and noticeable changes and investment lending scrutiny began. The consumer outcries at the time were mostly in relation to the new differential in interest rates. Investment mortgage rates had sat in line…
The importance of gauging stock levels
Property prices are impacted by many things, but the simplest of all drivers is supply and demand. Our stock levels have been particularly high so far for 2018 when compared to the stock levels of previous years and this could be attributed to several things; vendors capitalising on first home buyer demand, lending scrutiny precluding…
Packing, moving, unpacking… what we do to avoid it
An eye roll or a sigh usually accompanies the thought of packing up and moving house. It’s disruptive on every level and while some people do it easier than others, it still requires time and energy – or money. Even when the task is outsourced the need to sort, cull and direct box handlers remains…
Ballarat isn’t just about rental yield….
Ballarat is experiencing some unusual demand at present. Capital growth has been stronger than typical growth for the region and while heady double digit growth is not sustainable long term, there are some key reasons why the region is performing so well right now. Firstly – affordability. Melburnian buyers (and even some interstate capital city buyers) are…
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