Viewing by month: March 2016

Hot heating tips for your home this autumn

Hot heating tips for your home this autumn

As summer draws to a close and the cooler weather hits, we all dust off our jackets and jumpers to brave the chill. As we keep ourselves warm, it is also time to consider how well our houses stay warm when the mercury drops. This is important not only for liveability but to ensure you can present a cosy dwelling during an inspection or auction.

Consider the following real estate tips as we lead into winter:

BUYERS - Inspect during wet and cold weather
For buyers, it can be valuable to conduct inspections on days where the weather is not ideal, such as in wetter weather. This may not be the most appealing time check out a property, however it will be able to help you identify any problems that may exist with heating, drainage or leakage.

SELLERS - Heating, indoor and out
Ensure that your house is heated adequately before any inspections take place. The last impression you want to leave with a potential buyer is a cold sensation. Setting the heating temperature depends on your home, however around 20°C will be comfortable for most people as you open your home to a range of potential purchasers.

Outdoor heaters are relatively cheap however can encourage buyers to imagine enjoying your outdoor areas, even in colder weather. They can cost as little as $200 and will provide your outdoor entertaining area with a stylish and practical appearance. Generally speaking, as a seller you want to create a warm and welcoming atmosphere in your property.

0 comments | Posted by Charles Tarbey on 24/03/2016 at 2:22 PM | Categories:

Looking long term for investment success

Looking long term for investment success

One simple lesson I urge prospective investors to remember is the value of property as a long term investment. As the saying goes, it is a marathon, not a sprint.

If you are setting your sights on purchasing property to seek short term profit, it is important to consider the influence of supply and demand. Recent CoreLogic RP Data shows an increasing amount of stock entering the market over the next 24 months, meaning an aim for a quick sale could be affected by a market full of choice.

Whilst media hype can tend to emphasise property bubbles and impending market crashes, it often fails to report on the normal, cyclical nature of the property market. Ups and downs are inevitable therefore investing over the long term with careful consideration will help to eliminate the risks of short term volatility.

For example, the effect of mining booms in the Australian market has been significant. What were once lucrative areas to purchase property are now falling behind in comparison to the wider Australian market as the booms have slowed down.

As always, I encourage extensive research of the area you wish to purchase in before making any final decisions. Also, try not to overextend yourself when purchasing property. Budget carefully and take into account the potential for movement in interest rates.

0 comments | Posted by Charles Tarbey on 18/03/2016 at 6:08 PM | Categories:

The importance of building inspection reports

The importance of building inspection reports

Before getting too far ahead of yourself and signing on the dotted line to purchase a property, make sure you obtain a building inspection report.

A building inspection report will provide you with a written account of the condition of the building and its structure, including the interior, exterior, roof and so on. Importantly, it will advise you of any potential problems, for example safety hazards, rising damp and current defects that may cause future damage.

If you become aware of previously unknown defects, it will ensure you do not overspend on a property that is not up to scratch. In terms of negotiation, it may help you to lower the price allowing financial compensation for fixing the defects.

Pest inspection reports are also valuable to ensure there are no creepy crawlies sharing the residence with you. If the property is in an area where certain pests are a common problem, then a pest inspection is strongly advised.

Obtaining these reports will be a small price to pay to ensure the quality of structure and condition of any property you wish to purchase.

0 comments | Posted by Charles Tarbey on 11/03/2016 at 5:07 PM | Categories:

How to avoid the most common seller mistakes

How to avoid the most common seller mistakes

There are some common mistakes that can be made by vendors when looking to sell a home. These mistakes can have a negative impact on the sales process, and should be avoided if possible.

Seeking more than your home's value
Consulting local agents and formulating a realistic price expectation of your property based on their expert knowledge of market conditions will be beneficial. This way, you can avoid overpricing and turning away potential buyers.

Getting overly frustrated
According to CoreLogic RP Data from January 2016, the typical Australian capital city home spends around 41 days on the market. For some properties, a quick sale may occur and for others, it may be longer than average. It is important to avoid getting angry or frustrated if your property isn't selling. Perhaps your local market may not be experiencing a period of strong demand in comparison to the wider Australian market, or there may be a large amount of property on the market at the same time as yours.

Avoiding making simple home improvements
Where your home may be encountering a slower market, there is no need to be idle, sitting back and waiting until a buyer comes along. Even the smallest changes can potentially make a world of difference to your home on the market.

Small cosmetic renovations can enhance value in the eyes of buyers. For example, kitchens and bathrooms are rooms that attract the most attention so updates such as new cabinetry or modern fixtures can improve visual appeal without breaking the bank. Outdoors, landscaping can also influence a buyer's first impressions so adding garden beds, fresh plants, new pavers or outdoor furniture can alter how your home is perceived in terms of value.

0 comments | Posted by Charles Tarbey on 04/03/2016 at 5:48 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 Reserve Bank's decision to leave the cash rate at two per cent is expected yet prudent.

"The market is quite diverse at the moment and not all locations are experiencing the strength of the Sydney and Melbourne housing markets," said CENTURY 21 Australasia Chairman and Owner, Charles Tarbey.

"In fact, there are some locations in which a rate reduction would be helpful.

"Although this is the case, it's my belief that a rate hold is the best decision considering both the broader property market and the economy," said Charles Tarbey.

Data recently released by CoreLogic RP Data highlights the diversity in the Australian property market. Sydney and Melbourne have recently seen auction clearance rates around 75 per cent, compared to a slower markets in Brisbane and Perth, with clearance rates sitting at 48.4 per cent and 31.6 per cent respectively.

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 01/03/2016 at 2:19 PM | Categories: