Viewing by month: December 2015

Three tips to help make a better purchase

Three tips to help make a better purchase

When looking to buy a property it’s important to keep a level head and not rush into a real estate purchase that could lead to trouble. Below are some tips that may help you make a better decision when buying a property.

1. Be clear on your needs
Before you start looking for a property, form a clear idea of exactly what you want and need. This applies to all property purchases, from investments to owner-occupied homes. Write down a description of the attributes that you believe are important in a property and then start looking for homes that match that description. By doing this you can reduce your risk of being sidetracked by properties that don't suit your needs.

2. Be clear on your budget
Budgeting is a vital part of buying a house. Make sure that you know your financial limits before looking at a property. It's also important to have a contingency plan in place for a scenario in which interest rates rise or an income is lost. By having a sound budget in place you may be able to avoid the heartache of an unaffordable mortgage.

3. Plan for the long term
Strong price growth in many areas over the last three years has led to some people trying to pick the top of the market and try to re-enter after a slide. I prefer to think of real estate as a long term investment. By purchasing real estate for the short term, you may increase your risk of missing out on the benefits that real estate investment can bring.

0 comments | Posted by Charles Tarbey on 17/12/2015 at 3:22 PM | Categories:

Tips to find the right real estate agent

Tips to find the right real estate agent

Choosing the right real estate agent to sell your home is an important task. When you list with an agent, you are entrusting them with the sale of what is likely to be your most valuable asset.

To help you navigate agent selection, here are three key things to do before you list with an agent.

1. Look for "Sold" signs, not "For Sale" signs
Many people make the mistake of choosing an agent who has the most "For Sale" signs displayed. I believe that potential sellers should look for the agent with the most "Sold" signs. A good measure of success for a real estate agent is not how many properties they list, but rather, how many properties they sell. If you pick the agent with the most sold signs, you are likely to pick the agent with the most success in the area.

2. Conduct field research
Once you have identified a shortlist of agents or agencies that you are interested in, try to observe them in action. Attending the open homes and auctions of those agents will give you a chance to chat with them as a 'potential buyer' and see how they might approach a sale. Take particular note of how they greet viewers, how proactive they are and how they engage with other visitors.

3. Check results
Do some research into the agents' sales history. Find out how many properties they have successfully sold over the last six months and the sale prices they attained. This will help you to find out if the agent is achieving strong results.

0 comments | Posted by Charles Tarbey on 11/12/2015 at 4:59 PM | Categories:

Reserve Bank keeps cash rate on hold at 2 per cent

RBA rate hold: 2.00%

CENTURY 21, the largest real estate sales organisation in the Asia Pacific region, believes the real estate market will continue to stabilise under the Reserve Bank of Australia’s decision to keep the official cash rate at two per cent.

"The RBA, APRA and retail banks have curtailed most of the excitement within the investor sector of late," said CENTURY 21 Australasia Chairman and Owner, Charles Tarbey.

"This has been achieved not only by APRA making regulatory changes but also by the banks themselves changing their lending practices.

"These factors have lead to tightening in the market which could indicate that the RBA has scope to decrease interest rates in the future rather than increase them," said Charles Tarbey.

According to CoreLogic RP Data, Sydney’s annual growth rate is currently 12.8 per cent, down from its peak of 18.4 per cent in July earlier this year. Melbourne’s annual growth rate has dropped from a recent peak of 14.2 per cent to 11.8 per cent over the 12 months ending November this year.

CENTURY 21 encourages potential buyers who are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.

With over 3,000 offices, CENTURY 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.

0 comments | Posted by Charles Tarbey on 01/12/2015 at 2:05 PM | Categories: