Selling over Summer Posted on 4th January 2013 under Newsletters
There’s little doubt that spring is the season when most people contemplate selling their home. But that doesn’t mean no one sells in summer or that there are no buyers out there. On the contrary, with fewer properties on the market, competition can often be fierce. Properties that have a fantastic ocean view or an inviting outdoor entertaining area for example, will generally sell very well in the warmer months.
Choosing the right real estate agent can make all the difference with a summer sale so ensure your agent has the necessary local knowledge and experience to maximise the value...
2012 in review Posted on 4th January 2013
With the curtain now closing on another year in Melbourne property sales, the results indicate a market that is balanced and sound.
After 2011 finished with a grumble, the market mood from buyers and sellers was fairly sombre. This was still reflected in the general lack of quality homes on the market at the beginning of 2012 and a “bargain” buyer mind set. But while overall conservative economic conditions prevailed, the overall trend indicated a modest increase in market activity as the 12 months progressed.
The Real Estate Institute of Victoria reports the clearance rate has averaged 61% over the...
Deck Maintenance Posted on 4th January 2013
Timber decking is an attractive addition to any home or garden. However, if the deck has been continually exposed to the elements and is looking faded, splintered or warped, then it is time to restore its appearance by cleaning and sealing.
Hardware experts Bunnings Warehouse recommend the following approach to help bring your deck back to life! Start by clearing the deck of all furniture, pots and plants etc. Use a firm broom to sweep the deck keeping an eye out for damaged or loose boards and nails. Make any repairs if needed.
On previously stained decks, you will need...
Victorian Properties Top One Trillion Dollars Posted on 30th January 2013 under Latest News
The Real Estate Institute of Victoria (REIV) has just published an article declaring that Victorian residential property values surpassed $1 trillion for the first time in 2012.
Property is a significant part of the Victorian economy and holds a large portion of the state’s overall wealth. This is documented every two years by the Victorian Valuer General as part of the rating process for every Victorian property.
The values that are established allow municipal councils to determine properties rates and the state government to set land tax liabilities.
In 2012 the Valuer General found that the combined value of the...
Home Loan Update Posted on 30th January 2013 under Latest News
It appears that some banks have begun to relax their lending criteria amid escalating competition for business and to keep their profits high. Home buyers can again borrow up to 100% of a property’s purchase price. This is the first time in three years that lenders have offered loans with no deposit.
Borrowers need a guarantor to be eligible for the loan and the rate is at the high end of variable options at around 6.37%, according to RateCity. Lenders mortgage insurance (LMI) is another compulsory cost consideration for borrower’s mortgaging 100%. LMI is paid by the borrower but only...