Author Archive for Alan Reay

Amended Home Open Times

Wednesday, January 28th, 2015

Please be advised we have made the following changes to our home opens for this Sunday 01 February:

48 Trusmore Cres, Craigie has changed from 2.45-3.15pm to 12.30-1.00pm

3 Albion St, Craigie has changed from 12.30-1.00pm to 2.45-3.15pm

All others stay at the same time, sorry for any inconvenience.

"Happy House Hunting"

Categories : General

Our Available Properties as of 12th March 2014

Hi Everyone,

Please find attached our current listings and scheduled home opens for this coming weekend.

 

 

Categories : For Sale, Stock Sheet

43681090[1]I was recently made aware of a scam which occurred to a tenant in Craigie just before Christmas. It is the first time I have come across this scam so please share this information in order to stamp it out as quickly  as possible. Read More→

Energy Efficient App

Thursday, October 31st, 2013

bigstock-Frog-and-light-bulb-14437601Rising energy costs may have the potential to change the property market, as buyers focus more on the running costs  and energy efficiency of a home. Now  an Australian iphone app is available that can rate the energy efficiency of a house in minutes, then store the information to compare multiple homes.

Called eco easy home, the app allows buyers, sellers, renovators or tenants to quickly assess a homes individual energy efficiency features -  and see how they can be improved.

The app does not require the user to have any knowledge of energy efficiency. By answering simple questions about the  home the app will calculate its efficiency. For more information visit: www.ecoeasy.com

Categories : General, News, Tip

bigstock-modern-living-room-with-design-18426827HOMEBUYERS and renters value a good neighbourhood above any other property feature, a new survey has found.

Nearly 70 per cent of respondents made this selection in a recent Aussie Home Loans questionnaire.

The results were generally in line with what professional valuers consider to be the property features which add most value to a home.

A modern kitchen was the third most sought-after feature, appealing to 63.4 per cent of respondents.

This was pipped by that man haven and all-round storage space, the garage (63.7 per cent).

More than half said they were on the lookout for big bedrooms, air-conditioning and a modern bathroom.

Lifestyle features such as a swimming pool (11.3 per cent) or a home cinema (3.9 per cent) were a long way down the wish list.

The main factors that deterred buyers were tobacco odour (67 per cent), a busy street location (65.8 per cent), a dirty interior (61.6 per cent) and noisy neighbours (60 per cent).

Herron Todd White Perth managing director Brendon Ptolomey said location was the biggest factor in determining a property's value.

For example, a 4x2 in Peppermint Grove was not going to be the same value as a 4x2 in a new estate.

After location, valuers would rank modern kitchens, modern bathrooms, parking spaces, alfresco areas and extra bedrooms as the biggest value add-ons for a home, Mr Ptolomey said.

"There is a massive emphasis on kitchens from the market place," he said.

"People are much more aware of what's in there, and they're aware of features like the size of the oven or finishes like stone bench-tops."

Extra features added to a kitchen's value, but storage was a bigger factor.

Valuers would rank a garage further down the list, but in newer suburbs an enclosed garage could add between $20,000 and $30,000 to a property, Mr Ptolomey said.

The number of bathrooms also added value. He said valuers were seeing more homeowners put in a third bathroom.

"It could be a powder room with a shower, or a laundry with a shower," he said.

"People tend to want to shove teenagers down the end of the house."

A second bathroom added more value than a third, however.

"A second bathroom is almost essential in today's market," Mr Ptolomey said.

 

Parking space could also increase the value of a property.

"The closer you get to the city and the more difficult it is to park, then it can add anything from $20,000 to $50,000,'' Mr Ptolomey said.

"We certainly see a difference in value between one and two-bay apartments in the city."

A patio upgrade could virtually be relied on to lift the value, provided the job was well done.

"There are not too many homes without an alfresco it's pretty important to the market," Mr Ptolomey said.

"It can be a massive selling point."

Valuers said it was difficult to judge the dollar benefit of an extra bedroom.

"There's no perfect formula - you can't say a fourth bedroom will add $10,000 to a property," Mr Ptolomey said.

"But they always get used as a bedroom or a study, or most often as the junk room."

But he said living area was vital and the space taken up by a fourth bedroom might be at the expense of a lounge room.

Curtin University property studies professor Andrea Constable said bedrooms were also subject to the "law of diminishing returns'' - a fourth bedroom would be likely to add value but a ninth bedroom probably would not.

REIWA president David Airey said storage was an underrated influence on value.

"We are living in smaller households but accumulating more possessions," Mr Airey said.

"Homes with plenty of storage space are likely to be more valued."

But extra features, such as swimming pools or outdoor kitchens, were likely to be an over capitalisation.

Mr Ptolomey said a swimming pool could cost $30,000 to put in and add only $15,000 to the property's value.

Top 5 killer features

1) Kitchen 
"A well-designed, functional and spacious kitchen with quality draws and cupboards, bench-tops and appliances is an increasing priority for home buyers.'' - David Airey

2) Bathrooms 
"The market values a second bathroom and toilet or ensuites very highly due to the convenience and privacy they offer.'' - David Airey

3) Parking
"The closer you get to the city and the more difficult it is to park then it can add anything from $20,000 to $50,000.'' - Brendon Ptolomey

4) Undercover al fresco area
"We see everything from a BBQ shoved under a patio to an extensive outdoor kitchen, under patios with high ceiling fans. It can be a massive selling point.'' - Brendon Ptolomey

5) Bedrooms 
"Many homes today are occupied only by one or two people. Regardless of this shrinking household size the desire for larger homes remains strong and the market tends to put higher values on four-bedroom houses and three-bedroom apartments. Extra bedrooms offer flexible lifestyle options such as a home office or guest room.'' - David Airey

(source: Perthnow)

INVESTORS SHOVE OUT FIRST HOME BUYERS

Wednesday, September 25th, 2013

bigstock-housing-team-844036AS low interest rates prompt a fresh surge in real estate activity, a Battle Royale is looming between first-home buyers and property investors.

Sadly for the first-home buyer crowd, it's a one-sided contest.  Low interest rates help both parties with their repayments, but investors typically have more financial firepower when it comes to a bidding war.

Data released this week by mortgage broker AFG shows that investors snapped up between 28 per cent and 50 per cent of all mortgages processed in August, depending on which state you live.

And the RP Data-Rismark Home Value Index reported the strongest quarterly gain in house prices in four years.

It's good news for sellers, but not so great for buyers who have been scraping a deposit together and now must fight cashed-up investors for properties, plus a growing number of wealthy foreign buyers.

So in the interests of helping the underdogs, here are some ways that first-home buyers can compete in the real estate market.

Firstly, get pre-approval for a loan. If a seller has a choice between a pre-approved offer or one that is subject to finance, it's no contest.

It's also important to think about supply and demand.  If there is high demand for an area or property, you're going to have to pay more and battle others for it. In many cases taking that first step on the property ladder makes more sense in an area where there is abundant supply and lower demand. You can always trade up later once you have built some equity in your property.

Remember that most property investors think with their heads rather than their hearts and will seek simplicity in their purchase. That means first-home buyers may have a better chance at grabbing a bargain if they target properties that need a little renovation work to get them into good shape.

Search for opportunities before they get listed by building a network of real estate agent contacts.  Property experts suggest always making the first offer and asking the agent for the opportunity to make a counter offer.

Finally, take emotion out of your buying decisions, just like good investors do.  New properties will always be popping up.

(source: Perthnow)

WHO needs a man?

Wednesday, September 11th, 2013

bigstock-Happy-Young-Woman-with-Sold-Fo-47691676Not financially savvy Gen Y women, who are outstripping their male counterparts in their determination to crack into the property market.

And Gen Y ladies also have a better grasp of finances, with 81 per cent understanding what a variable rate is compared to only 60 per cent of Gen Y men.

The men also lagged behind in understanding offset accounts (39 per cent compared to 50 per cent of women).

The Westpac Home Ownership Report found 73 per cent of Gen Y women were focused on the benefits of paying off their loans early, while only 56 per cent of the men were concerned about early ownership.

Almost half of women aged 18-34 ranked home ownership as their top priority, ahead of having a family (14 per cent) and marriage (5 per cent).

Rosalind Davis, 27, who bought her one-bedroom Randwick apartment for $425,000 a year ago, hopes to climb the property ladder by upgrading in a few years time.

She said home ownership is a goal for lots of her friends.

"I don't know if it is more important than getting married and having kids but it is more controllable. You can't control when you are going to meet the right person but you can completely control your income and save enough.

"It is definitely a priority for all my girlfriends.''

Researching on the internet and the ability to secure a loan without a formal interview with a bank manager made getting a mortgage less intimidating, she said.

"As a young woman going into the bank is a really daunting thing on your own. Now with the internet you can just figure out how to do it and just go for it,'' she said.

Gai McGrath, Westpac's general manager of retail banking, agreed: "I think those days of a man as a financial planner are long behind us.

"There is this cohort of young women who are very determined about getting a platform for financial security from a young age.''

She believes men of the same age may not be as driven because of the comforts of home.

"There may be something in the proportion of Gen Y men v Gen Y women who are still living with their parents,'' she said.

Social researcher Mark McCrindle said Gen Y women were better educated and commanded rising incomes.

Just under 30 per cent of men aged 25-34 have a university degree, compared to 40 per cent of women, he said.

"We are really starting to see the rise in the financial power of the next generation of women,'' he said.

"They are getting education, they are getting careers and they are taking charge of their financial future.''

(source: Perthnow.com.au)

What suburbs are “Hidden Gems”

Wednesday, September 4th, 2013

bigstock-Beautiful-view-of-the-cityscap-49641488Realestate.com  joined forces with Westpac and RP Data to uncover the areas where Australians can buy a home at a lower cost than its more popular neighbouring suburb.

These areas provide an opportunity for house hunters to use the money saved by purchasing in a lower-cost neighbouring suburb to own their home sooner.

The ‘hidden gem suburb’ is one that’s close by to the popular suburb, but has a cheaper average house/unit price.

“By simply considering a suburb just a stones throw away from your first preference, these suburbs represent real value for buyers who want to truly ‘own’ their home sooner,” said Gai McGrath, General Manager of Retail Banking at Westpac.

“For example, if you wanted to buy a house in the third most popular suburb in Perth, Mount Lawley, you could consider neighbouring suburb Highgate where the average house price is 27% cheaper".

Here’s the gems:

1. Innaloo $618,891 – a saving of $81,282 (11.6%) from neighbour Scarborough
2. O’Connor $572,144 – a saving of $229,908 (28.7%) from neighbour Fremantle
3. Highgate $678,530 – a saving of $250,899 (27%) from neighbour Mount Lawley
4. Victoria Park $623,090 – a saving of $415,187 (40%) from neighbour South Perth
5. Langford $367,703 – a saving of $259,270 (41.4%) from neighbour Canning Vale
6. West Perth $709,723 – a saving of $445,324 (38.6%) from neighbour Subiaco
7. Bentley $501,376 – a saving of $200,815 (28.6%) from neighbour Como
8. Ashfield $496,997 – a saving of $101,711 (17%) from neighbour Maylands
9. Mirrabooka $385,485 – a saving of $250,326 (39.4%) from neighbour Dianella
10. Eden Hill $439,378 – a saving of $177,794 (28.8%) from neighbour Bayswater

REIWA responds to State Budget

Wednesday, August 28th, 2013
Real_Estate_BoomPresident of the Real Estate Institute of Western Australia, David Airey, has welcomed the decision by the state government to maintain the stamp duty exemption for first home buyers but said he was disappointed by changes to the First Home Owners Grant (FHOG).
“Maintaining the stamp duty exemption for first home buyers is a huge saving to many people, but slanting the FHOG towards new construction and away from established dwellings will not produce the outcome the government is expecting,” Mr Airey said.
The Treasurer adjusted the FHOG from $7,000 to $3,000 for the 70 per cent of people who purchase an existing dwelling.
New-builds will receive a boost of $3,000 to a grant of $10,000.
In defending the policy shift Premier Barnett said it would help stimulate construction and provide more homes.
“That argument is not supported by any evidence from over east where other states have already gone down a similar path,” Mr Airey said.
“Building a new home is a lifestyle decision that around 30 per cent of first home buyers are attracted to.  It is not a decision based on cost.
“The policy shift in the application of FHOG is unlikely to have any impact on boosting construction,” Mr Airey said.
Mr Airey said that, more importantly, the building industry didn’t need any stimulus and was currently flat-out meeting existing demand.
“Data from the Office of State Revenue show that for the June quarter, first home buyer applications for new-builds jumped by 36 per cent on the March quarter.”
“Grant applications from first home buyers increased from 1,522 in the March quarter to 2,075 in late July, reaching their highest level since September 2009,” Mr Airey said.
However, Mr Airey took aim at the 12.5 per cent increase in land tax for other owners, saying that owners were frustrated with increasing bills.
“This is a kick in the shins for property investors who supply two thirds of rental stock in WA. It will suck an extra $73 million out of their pockets as a punishment for being an investor.
The budget’s projected land tax revenue in 2013-14 is $657 million and is projected to raise an extra $338 million over the forward estimates.
“These owners already pay rates to local government for the provision of services yet get nothing from the state directly and subsidise government services which benefit the entire community.
“It's a great concern that the government remains so dependent on property taxes to run the state despite the enormous revenue earnings from resources,” Mr Airey said.
(source: Reiwa)

2013 Honeywood Telethon Home by In-Vogue

Wednesday, August 21st, 2013

bigstock-Family-With-House-10464848In-Vogue is delighted to once again be involved in the building of the Telethon Home. This year we welcome Nigel Satterley and Wandi Anketell Holdings Pty Ltd as our major partner in this prestigious event. The 2013 Honeywood Telethon Home by In-Vogue will be one of the most significant fundraising initiatives undertaken during the year for the benefit of ‘Princess Margaret Hospital for Children’ and to improve child health and research in Western Australia.

Nigel Satterley and Wandi Anketell Holdings Pty Ltd has kindly donated a prestigious lot in the master planned community of Honeywood ,  a thoroughly modern estate, with first-class community and family facilities. At the same time, the estate provides an almost rural tranquility, thanks to an extraordinary 25% of its area consisting of preserved native bush. The leafy surrounds are further enhanced with a network of landscaped parks. Honeywood  balances seclusion with connection. Located just off the Kwinana Freeway, and just 20 minutes to either Perth or Fremantle with shopping pristine beaches quality schools all close by.  The elevated 418 sqm home site is close to nature and overlooking landscaped parks, playground and recreation areas.

In-Vogue are constructing the Hamptons inspired home, which has been designed to cater for families to enjoy the natural and tranquil lifestyle. The home features a large open plan entertainment area, several independently zoned living areas and four bedrooms, two bathrooms, a home theatre, study, sitting room and a fantastic alfresco suited to outdoor entertaining with views to the park. Once again this year’s home incorporates energy efficiency features.

The construction of the home project commenced early in 2013 with completion anticipated early September 2013 and the launch of the home shortly thereafter. The home will then be open for inspection for approximately 6 weeks leading up to the auction on Sunday 20 October 2013, if not sold prior.

We once again thank our valued key suppliers without whom the home would not be possible and who participate by assisting with  donations of products, supplies or services  towards the construction of this exciting Telethon home.

Last years 2012 Telethon Home by In-Vogue and Australand was a resounding success selling prior to auction for a record sale price of $1.2 million.

We look forward to an equally successful outcome for this year home. 2013 Honeywood Telethon Home by In-Vogue.

Categories : Buying, General, News