Easter Break

Hi Property Lovers

Just to let you all know with the 4 day long weekend coming up all properties will be available view. Home open for 81 Webster Street at 11.00-11.45am & 3/52 Dalkeith at 12.00-12.45pm this coming Saturday with everything else open by appointment all weekend long.

Thinking of buying or selling in Nedlands? Call me anytime.

"Knowledge equals power in rates negotiations"

Hi Property Lover's

I Came across this article on Australian Property Investor that I thought was a good read.

Borrowers using Australia's major banks pay standard variable interest rates that are 0.32 per cent higher than other lenders on average, RateCity research has found.

That equates to Australians paying an extra $1.33 billion in extra mortgage interest to the banks, RateCity chief executive Damian Smith says.

Over the life of a typical 25-year loan term, the interest rate difference between the major banks and other lenders could be worth more than $17,700 in extra interest charges to the average household, RateCity notes.

Yet the major banks - ANZ, Commonwealth Bank, NAB and Westpac - make up three-quarters of the variable mortgage market, which equals about 1.88 million households.

"The major four banks don't need to keep a competitive standard variable home loan rate because they hold the majority of mortgage customers," Smith says.

"Their position is to be competitive on basic home loan rates, where the major four are on par with other lenders."

RateCity says the average basic variable rate of the major four banks is currently 6.28 per cent for residential home loans, compared to an average of 6.27 per cent for other lenders.

"There's a huge amount of brand loyalty for the big four banks in Australia and borrowers should not limit their decisions to a handful of banks based on brand recognition alone," Smith says.

"For instance, there are many smaller lenders that may fight harder for your business or you could save thousands of dollars by choosing a basic home loan rather than a standard variable deal."

Smith notes the big four banks are often willing to negotiate rates for individual customers.

"While they won't advertise their willingness to negotiate, we regularly see examples of individual managers being able to reduce fees, or cut rates.

"Customers need to compare all their options, and come equipped to any discussions with their branch manager with details of what they can get from another institution.

More and more, we see that knowledge is power when it comes to negotiating a better deal."

This information was gathered from:

http://www.apimagazine.com.au/api-online/news/2010/03/knowledge-equals-power-in-rates-negotiations

Thinking of buying or selling in Nedlands? Call me anytime.

Getting Your House Ready For Sale....

Hi Property Lovers

A lot of people ask me what is the best process to get a house ready for sale and what can you do to enhance the look of my home:

Painting:
When walking into a home open the first thing most people will notice is how light and bright the home is. Character homes often have a few rooms that have different colour walls or paint that is starting to flake and looks grubby. For a few thousand dollars painting all rooms WHITE will not only brighten up the house but will enhance the room sizes and character features (ornate ceilings).

Garden:
Lush green grass, budding flower beds and a well maintained garden will add $$$$$ to your property and make the home present just that much better. The weeks leading up going to market, do the mulching then, the last thing you want is to have your home open with the smell of manure lingering around. For homes that is more lock up and leave that has little garden, make sure what garden you have looks great. If you think it looks a little bland, get a few pot plants the add a bit of colour to the yard.

Junk & Clutter:
When selling your home, you want to enhance the size of each room.....this means getting rid of the stuff that doesn't need to be there! book shelf's that are randomly placed in hallways, bedrooms that have junk throughout and backyard's that have all the kids outdoor toys around...... its time for a spring clean! When potential buyers walk through a house, they picture their furniture in the rooms, so the less you have the better it is for them buyers to picture how it could work for them.

The Day of The Home Open
The main day! After all that hard work getting ready for this day what can you do to finish it off? Make sure the home presents beautify, everything clean, windows nice and clear, The less clutter in the kitchen the better and gardens neat and tidy. If your home presents magnificently it will stay in the mind of the buyers...remember, your home is not the only one they are seeing today, so you want to leave an impression!

Getting a home ready for sale can be a very stressful process, though when that offer comes in and everything is signed......it will be all worth it!

For a obligation free market appraisal of your home please feel free to contact me.

Thinking of buying or selling in Nedlands? Call me anytime

UNDER OFFER

Hi Property Lovers

UNDER OFFER

39 First Avenue, Claremont

For further information please feel free to contact me on 0411 645 174

Thinking of buying or selling in Nedlands? Call me anytime.

"Small lenders take fight to banks with rate cuts"

Hi Property Lover's

I came across this article on Australian Property Investor that i thought had some good information regarding interest rates.

Interest rate cuts at two Australian mortgage lenders are a sign of renewed competition in the home loan market and should provide borrowers with greater bargaining power, according to industry experts.

Credit Union Australia (CUA) has cut its standard variable home loan rate by 0.25 percentage points, putting it more than half a percentage point below the standard variable offerings of the big four banks.

AMP Bank also cut its lending rates last week.

Greater competition is the silver lining that comes with a rising interest rate environment, says Damian Smith, chief executive of online loan comparison site RateCity.

"Rising interest rates tend to allow greater price competition between institutions, and so we're expecting to see more players follow CUA and price aggressively below the big four banks," he says.

"Smaller institutions have also been able to get access to wholesale funding more readily in recent times, which will allow them to offer more home loans at attractive rates.

"When rates were at historic lows, it was difficult for any one institution to break out of the pack and be substantially cheaper than the rest. Now, with higher rates, there's more room for a wider spread of rates, and we're seeing evidence of that."

While the rate cuts will have an immediate and obvious benefit for borrowers at CUA and AMP Bank, Smith says they could also have flow-on benefits for other mortgage holders.

"It's important that customers of other institutions don't sit back and assume nothing can change for them. In many cases, institutions can and will offer better rates than their headline deals imply.

"If customers do the comparison and research work online... they can then start negotiating with their branch manager to get a better deal, using the lower rates from CUA and AMP as examples."

Mortgage Choice senior corporate affairs manager Kristy Sheppard says the rate cuts are a sign that smaller lenders are beginning to find it easier to fund their home loan offerings.

"The rate reduction provides us with further indication that smaller lenders are returning as real competitors in the Australian mortgage market, which is a wonderful thing for both potential borrowers and those looking to refinance," Sheppard says.

"When it comes to home loans, innovation, competitive pricing, the range of available features and high quality servicing are all heavily influenced by the level of competition between lenders."

This information was gathered from:

http://www.apimagazine.com.au/api-online/news/2010/03/small-lenders-take-fight-to-banks-with-rate-cuts

Thinking or buying or selling in Nedlands? Call me anytime.

"Average Perth house to cost $1million in 10 years"

Hi Property Lover's

I came across this article on Perthnow.com.au that I thought i will post.

THEY are figures that will stun most West Australians - homes in almost all suburbs worth more than an average of $1 million and, in Peppermint Grove, a staggering $25 million.

But if the real estate boom of the past 10 years is repeated over the next decade, these prices will be the scary reality, according to new figures calculated by one of Australia's top property price-monitoring companies.

The price predictions, compiled exclusively for The Sunday Times by Australian Property Monitors, indicate only a handful of suburbs in the Perth metropolitan area will have a median house price below $1 million in the next decade, and many suburbs will hit the $1 million mark within five years.

WA's house values could be the highest in the country, and Peppermint Grove would be clearly Australia's most expensive suburb with a median house price of more than $25 million in 10 years.

Real Estate Institute of WA president Alan Bourke said a Perth median house price of $1 million was inevitable.

"It will happen, it's just a matter of time, whether it's in 10 years or 12 years," Mr Bourke said.
APM economist Matt Bell said the long-term outlook for WA property prices was the best of all the major states because of the likely long-term resource boom, driven by Chinese and Asian demand for commodities.

While the prospect of property values doubling in the next 10 years will bring a smile to the faces of today's home owners and investors, it poses further affordability issues for those yet to step onto the property ladder.

WA Council Of Social Services chief executive Sue Ash said it was critical that housing was both affordable to buy and affordable to live in to prevent an increase in homelessness.

"We are more worried about the incline in house prices than the actual final number because it's the incline in house prices that is causing the difficulties for those people who are in the lower incomes and particularly for those people on fixed incomes," she said.

Stockland managing director Matthew Quinn echoed these sentiments in a recent speech.
"The average first-home buyer today cannot afford to pay the median house price - not even close," he said.

Mr Quinn blamed "a total disconnect between the different levels of government . . . without action, housing affordability problems are going to get worse."

He said building smaller homes could ease the shortage and the affordability issue. Stockland was reducing its average lot and house sizes for customers.

"Australia is one of the world's most urbanised nations, with over three-quarters of our population living in major cities and the overwhelming majority in our five largest cities alone," he said.

Mr Bourke said the State Government needed to take a tougher approach to high-density housing if it was to solve future housing affordability problems.

"The various industry bodies know what to do, it's just the government of the day deciding yes, it will solve the problem, it will make the decisions that are going to be unpalatable for some of the shires and some of the levels of bureaucracy - it's just a matter of whether the government has got the courage to solve the issue," he said.

"Doubling the density would solve the problem in a heartbeat. (The government) needs to take a tougher approach to high-density planning."

Adding to housing affordability problems, a report by the Housing Industry Association reveals Perth's growth areas are falling behind demand.

The report into WA housing needs showed a shortfall of 17,400 houses last year. The shortage is expected to be more than 70,000 this decade.

WA Planning Minister John Day told The Sunday Times lot production had slowed during the past 18 months as a result of the economic downturn and develop finance being harder to obtain. But he expected the rate of production to increase again.

"There are about 37,000 vacant residential lots, with construction of homes thought to be under way on about half of these," Mr Day said.

"There is currently a stock of 18,500ha of urban-zoned land, which is yet to be developed.

"Assuming historical consumption trends in urbanisation, the current stock of undeveloped urban-zoned land will meet demand for about 22 years."

This information was gathered from:

http://www.perthnow.com.au/news/western-australia/average-perth-house-to-cost-1million-in-10-years/story-e6frg13u-1225843172776

Thinking of buying or selling in Nedlands? Call me anytime

AUCTION THIS SATURDAY

Hi Property Lover's

AUCTION THIS SATURDAY

12 NOON ON SITE

2/10 The Avenue, Crawley

For further information on this property or to arrange a private inspection this week please call me on 0411 645 174.

Thinking of buying or selling in Nedlands? Call me anytime.

Thinking of Selling?

Hi Property Lover's

Outstanding sale results in Nedlands and surrounds have nearly left me out of stock. If you are thinking of selling and would like an obligation free accurate appraisal & customised marketing strategy to suit your property please call me on 0411 645 174 to discuss.

Thinking of buying or selling in Nedlands? Call me anytime.

For Sale 39 First Avenue, Claremont

Hi Property Lovers

Its with great pleasure that I'm able to introduce to the market this entry level family home in quiet location. Situated in a prime Claremont avenue opposite parkland, this property offers the perfect entry point family home...with room to further personalise.

Accommodation: 4 bedrooms, 2 bathroom, study, modern kitchen & meals, large family area, living area, loft/activity room, alfresco area plus courtyard & 2 car bays.

This home offers the perfect entry point for young families into the area or a BLUE CHIP investment with the opportunity to rent, renovate or redevelop.

For Sale - $1,100,000

To arrange a private inspection or for further information please call me on 0411 645 174

Thinking of buying or selling in Nedlands? Call me anytime.

"Ideal conditions for substantial property growth"

Hi Property Lover's

I came across this article on Australian Property Investor which i thought was a good read:

Property investment opportunities are exceptional right now because many values are still priced at reactionary downturn levels, according to Australian Unity Investments head of property Martin Hession.

He said unlike in the downturn of the late '80s and early '90s when property, particularly commercial, was oversupplied, the recent property downturn was due to the banking industry.

"In fact, because banks have not been financing property development for almost two years, supply is set to become tight very quickly," he said.

"Combined with an economic recovery in Australia and solid growth in white-collar employment, you get the ideal conditions for substantial growth in the property market."

He said the combination of Australia's strong economy with a slowdown in development only meant "lots of money chasing too few properties because local and overseas property funds now only want to buy in Australia".

The wholesale deposit guarantee likely to end on March 31 was also a factor for high capital growth, said Hession, because at some stage investors will start to switch back from bank deposits to property investment.

But cash availability was still constrained which meant the developer's borrowing cost was still high, he said.

"Property funds and developers generally did not get any of the benefit of the sharp decline in cash rates last year as it was offset by an increase in the risk margins that banks add on top of the basic cost of money," said Hession.

He said that with official rates back on the way up the cost of debt will be a major issue for some funds, and those with significant amounts of debt are still going to struggle.

Hession said, "Property investors should make sure they fully understand the debt arrangements of any fund or development they are considering investing in."

This information was gathered from:

http://www.apimagazine.com.au/api-online/news/2010/03/ideal-conditions-for-substantial-property-growth

Thinking of buying or selling in Nedlands? Call me anytime

"Better off with variable"

Hi Property Lovers

I came across this article about variable & fixed loans on Australian Property Investor that I thought had some good information.

As a general rule most people are better off sticking to a variable rate for their home loan rather than a fixed rate, according to RateCity chief executive officer Damian Smith.

"The only reason you would move to a fixed rate is if you thought interest rates would spike very, very sharply and very, very quickly – if you thought they were going to go up a couple of per cent very quickly," he says.

On average, Smith notes, interest rates go up in small increments.

He says for the most part the benchmark standard variable rate is more than one percentage point lower than the benchmark fixed rate.

Right now, he says you'll be better off starting on day one with a standard variable rate and you’ll be substantially better off if you make that repayment and add the extra repayment that you would have made if you were on a fixed rate.

For instance, on a $300,000 home loan he points out that the current variable rate is 6.63 per cent, while the fixed rate is 7.7 per cent.

The repayments for a fixed loan on that amount would be $2256 and for the variable loan they would be $2051; if you make the extra $200 payment Smith says you'll be much better off after three years, having shaved more off your principal.

"So for most people the best option is to take the variable rate loan but pay more than the minimum," he says.

This information was gathered from:

http://www.apimagazine.com.au/api-online/news/2010/03/better-off-with-variable

Thinking of buying or selling in Nedlands? Call me anytime.

Growth Charts

Hi Property Lover's

I found these charts today on perthnow.com.au with the potential price increase for the metro area over both 5 & 10 year period. Ive attached the links below for your reference:

5 years growth chart:

http://media.perthnow.com.au/fatwire/PropertyGuide/5Year.pdf

10 year growth chart:

http://media.perthnow.com.au/fatwire/PropertyGuide/10Year.pdf

Should you have any further information regarding these charts please feel free to contact me anytime.

This information was gathered from:

http://www.perthnow.com.au/real-estate

Thinking of buying or selling in Nedlands? Call me anytime.

"Fixed rate loans gain market share"

Hi Property Lovers

I came across this article on Australian Property Investor which i though had some good information.

New mortgagees have recently doubled the Australian market share of fixed rate loans from just below one per cent in January to more than two per cent in February, according to Mortgage Choice home loan February data.

In the same month, Western Australia's fixed rate demand increased from a record zero per cent to four per cent market share.

But the fixed rate home loan option still has a long way to go to reach its 38 per cent new approvals peak in November 2007, said senior corporate affairs manager Kristy Sheppard.

She said Victoria was the only state that didn't follow this trend, and instead fixed rate demand actually fell to a record low of 0.65 per cent for new approvals.

"In a rising interest rate environment," said Sheppard of the reason why fixed rate loans still remained low, "savvy borrowers look for a competitive product that makes a statement in terms of affordability and flexibility."

In the variable loan category, standard variable loans increased in popularity, climbing one percentage point to 49 per cent of February approvals to its unchanged number one position.

This information was gathered from:

http://www.apimagazine.com.au/api-online/news/2010/03/fixed-rate-loans-gain-market-share

Thinking of buying or selling in Nedlands? Call me anytime.

COMING UP SOON!!!

Hi Property Lovers

Coming up soon, neat and tidy perfect entry point home into Claremont or blue chip investment.

To register you details please call me on 0411 645 174

Thinking of buying or selling in Nedlands? Call me anytime.

Which WA towns are in a building boom?

Hi Property Lovers

Even though this doesn't really focus on the Western Suburbs, I thought it was good information for property investor's.

Resource-focused towns and regional centres are amongst the top growth areas in WA that are in the middle of a building boom.

The Housing Industry Association reports that a break down of ABS building approvals figures for the December quarter 2009 shows Wyndham-East Kimberley, Kwinana , Mandurah and Harvey were WA's top growth areas.

Top 20 growth areas in WA:

1. Wyndham-East Kimberley
2. Kwinana
3. Victoria Park
4. Mandurah
5. Harvey
6. Serpentine-Jarrahdale
7. Geraldton-Greenough
8. Wanneroo
9. Albany
10. Vincent
11. Busselton
12. Rockingham
13. Broome
14. Northam
15. Gosnells
16. Kalamunda
17. Bayswater
18. Murray
19. Armadale
20. Canning

Although building approvals in the Top-20 local government areas are all coming off a low base, the results are impressive,'' said the HIA's Professional Services Adviser, David Endersby.The range of areas showing strong growth across the entire state illustrates that housing will again be placing pressure on the economy earlier in 2010 than expected.While there were 21,500 building approvals in WA in 2009, it remains well short of underlying demand to build over 30,000 homes in the state each year.''Data from the ABS shows that the Wyndham-East Kimberley area had a 382 per cent growth in building approvals in the December 2009 quarter compared with the same period in 2008.

This compares with the others in the Top-10, Kwinana (up 171 per cent); Victoria Park (up 166%); Mandurah (up 117%); Harvey (up 107%); Serpentine-Jarrahdale (up 102%); Geraldton-Greenough (up 100%); Wanneroo (up 95%); Albany (up 92%); and Vincent (up 91%).Across WA, the approvals were up by an average of 40.7 per cent.

This information was gathered from:

http://www.perthnow.com.au/business/resources-push-up-housing/story-e6frg2ru-1225834750177

If you are after any other property information please feel free to contact me.

Thinking of buying or selling in Nedlands? Call me anytime

77 Archdeacon Street, Nedlands

Hi Property Lovers

TWILIGHT HOME OPEN

Wednesday 10.3.2010

6.00-7.00pm

Thinking of buying or selling in Nedlands? Call me anytime

February Results

Hi Property Lovers

February was a good month for the Nedlands area, though Dalkeith was a different story! Last month Nedlands had a total of 12 sales with a value of $15,804,000. Dalkeith has 3 sales (2 still being under offer) with a value of $2,400,000.

Should you have any further questions about the sales results please feel free to contact me.

Thinking of buying or selling in Nedlands? Call me anytime.

For Sale 33 Napier Street, Nedlands

Hi Property Lovers

It's with great pleasure to introduce to the this contemporary style single level home.Boasting stylish sunlit interiors this single level modern family home is perfect for young families requiring separate living zones.

Accommodation: 4 bedrooms, 2 bathrooms, study, formal lounge, open plan kitchen meals and living, activity room, alfresco area, double car port

This home is perfect for the young family in a prime location close to Perth's elite school's, shopping and transport.

For Sale: $1,650,000

To arrange a private inspection or for further information please call me on 0411 645 174

Thinking of buying or selling in Nedlands? Call me anytime.

For Sale 32 Bedford Street, Nedlanda

Hi Property Lovers

Its my pleasure to introduce to the market this stunning family home. Fabulous outdoor living area includes water features, private alfresco, 10 seater spa and beautifully structured gardens. Inside offers total luxury with formal and informal living, open plan gourmet kitchen and living perfect for entertaining and accommodation suited for families of all sizes.

Accommodation: 4 bedrooms, 2 bathrooms, study, formal living and dining, open plan kitchen meals & living, theatre room, wine cellar, alfresco area, 10 seater spa & triple garage.

Set on an elevated corner block this family homes offers the perfect set out for entertaining all year round.

For Sale: POA

If you would like to arrange a private inspection or for further information please call me on 0411 645 174.

Thinking of buying or selling in Nedlands? Call me anytime.

AUCTION: 2/10 The Avenue, Crawley

Hi Property Lovers

It's my pleasure to introduce to the market for the first time in 20 years! A rare opportunity to experience the finest in exclusive water front living just a breath away from the shore line of the sparkling Swan River. This SINGLE LEVEL villa home (over 200sqm) is in pristine condition.

Accommodation: 3 bedrooms, 2 bathrooms, 1 study, kitchen and meals, formal and informal living, courtyard, large front back patio with direct access to the river foreshore & 3 car garage

With direct access to the parkland's and foreshore of the beautiful Swan River and WORLD CLASS panoramic views this home offers a lifestyle that most could only ever dream for!

AUCTION: 27th March 2010 onsite at 12noon

For further information or to arrange a private inspection please contact me on 0411 645 174

Thinking of buying or selling in Nedlands? Call me anytime.