New data shows that an average of 6.1% of homes nationally are re-listed within two years of purchase. Why? Whilst Victoria's rates are the second lowest, coming in at 4.3%, the top reason for homeowners re-listing their property within two years is relocation, closely followed by financial stress, such as being unable to keep up with mortgage repayments and selling to avoid defaulting on their …
Pockets of opportunity still exist if you know where to look!
We are in such an interesting market right now. It is one of flux where buyers and sellers are navigating many mixed messages. So how do you sift through what is the right information that suits your circumstances and what your next move needs to be? You do your own research and due diligence or you tap into the knowledge, expertise and experience of industry professionals …
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Learn to spot the next boom town!
Ever wondered how some property investors are always in the right spot at the right time, just before a suburb booms? What do they know that you don't? The secret is to follow the 'big boys'. Where are the big companies spending money? Where is the government channeling funds and allocating budgets to build better roads, community facilities like schools and create transportation …
Set goals to increase your property investing success!
How successful do you feel you are with your house hunting and property investing? Do you regularly set goals to aid you on your property investing journey? Let me ask you this - would you jump in your car and drive around aimlessly without first deciding where you needed to go? I'm guessing not. So why would you do exactly this with your investing, by not setting firm goals and …
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The market has turned, did you notice?
I have been studying the market with interest these past few weeks. Despite what you may still be hearing out there in the media, the market has turned. Prices have plateaued out and are on the way back up. We've recently attended auctions for clients in Box Hill and Blackburn and I can tell you first hand the market there is piping hot! Of course, not all suburbs do the same thing, as we …
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6 Things our Clients thank us for!
We often get asked: what's the difference between a buyer's advocate and a real estate agent? The key difference between a buyer's advocate and a real estate agent is who they represent. A real estate agent is acting on behalf of the seller, also known as the vendor. A buyer's advocate is acting purely on behalf of the buyer, working exclusively for them to achieve the very best outcome …
Include an ‘offer expiration’ clause in your offer
Also known as a sunset clause, it is wise to include an "offer expiration" clause in any offer that you make to purchase property. Such a clause states a date and time when your offer will expire and will encourage a Vendor to make a decision or risk losing a sale. It will also encourage an agent to act quickly to ensure your offer is presented to the Vendor promptly. Ideally, a sunset …
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Looking to invest with a tenant in mind?
Here is a golden rule for your investing. Rather than buy first then wonder, how do I get a tenant, why not buy with the tenant in mind? For the suburb that you are looking to buy in, go into the real estate agency, walk past the sales guy/gal, sit down with the rental manager and ask them: Then go and buy that sort of property. You have an entire market that is already there, …
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How to use inspection reports as negotiating tools
When you buy property, we all know you should employ the services of a qualified building and pest inspector to give the house a once over and highlight any issues there may be with the property. A building or pest inspection report will reveal any issues with the structure of the building, recent termite activity or even things such as rising damp. A thorough report will also highlight minor …
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The importance of getting a property inspected before buying
When it comes to buying a home, it is essential to recognise that you are responsible for much of what takes place. Once the transfer of ownership is complete, you are often liable for any pre-existing defects, including illegal alterations to the property. As Consumer Affairs Victoria (CAV) outlines on it's Contracts and Disclosure Statements webpage, sellers must provide prospective buyers …
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