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Will Real Estate Property Momentum Continue in 2014?

The combination of low interest rates, foreign buyers, upgrader enthusiasm and investor momentum saw 2013 emerge from its property holding pattern and the market become reinvigorated.

RP Data analyst Cameron Kusher said he believes momentum in property will continue into the new year, propelled by investors and upgraders.

He also believes values will climb further, though not as sharply in 2014. Another of his predictions is that gross rental yields in Sydney and Melbourne will continue the decline they commenced in latter 2013, leading investors to look at alternative growth zones. These are good tidings for the Far South Coast of NSW.  The last few months of the year had seen keen interest in the area, with properties that were priced right being snapped up, some as soon as they came on the market.

However, Mr. Kusher issued a warning about other economic wild cards, like the unemployment rate, stating  “If it reaches 6.25% it will be the nation’s highest unemployment rate since September 2002. If people start to become nervous about their job security it is likely to result in a lower level of demand for housing.”

Rates are at their lowest levels since the 1960s and inflation is currently at 2.2%.  Keep in mind that the Australian interest rates don’t operate in a bubble – they respond to what’s happening in the global economy. The recent fall of the Australian dollar of 2.5 cents against the U.S. dollar as a result of the U.S. winding back its stimulus is a reminder that inflation could increase if the dollar keeps falling and the cost of imports increase. If inflation increases we could see a rise in interest rates.   The all important question now is whether the RBA will increase or decrease rates, or leave them as is in the new year.

With keen interest from both local buyers and those from interstate in Merimbula, Bega, Tura Beach, Eden and Cooma and the current low interest rates together with confidence in the real estate market, vendors should not delay listing their properties for sale.  Now is a prime time to sell.

Yield The Golden Word When Buying an Investment Property

There’s no doubt that yield is the golden word for investors.  Other things may come into play, such as lifestyle or infrastructure potential, such as the Bega Hospital and Eden Wharf developments, but the income return on the property is usually the major concern for the purchaser.  The Sydney market has been hot for investment properties to the extent that Investors are crowding each other out, resulting in a slight drop in yields.  That gives regional towns on the South Coast and Monaro such as Bega, Merimbula, Tura Beach, Eden and Cooma the inside track for investors looking for positive returns.

Yield is generally calculated annually as a percentage.  It is based on the asset price or market value of a property. The gross yield is the income (i.e. rent) derived from the investment before expenses are taken out.  The net yield is the income less expenses. These expenses could include stamp duty, legal fees, pest and building inspections, repairs and maintenance, property management fees, insurance, rates, strata management fees.

The yield is stated as a percentage and is worked out as –
Gross yield = annual rental income / property value x 100
Net yield = annual rental income – annual expenses / property value x 100

The return or total return includes capital gains. It is quoted as a percentage and is retrospective, based on the gain or loss of the investment during a particular period.

Increasing housing demand drives property prices up and this can affect the yield of an investment. The more prices go up, the lower the percentage between rents (income) to property value. According to Australian Property Monitor’s figures for the September quarter, this is exactly what is happening in Sydney right now. With the current low interest rates many investors are considering purchasing property for negative gearing. Purchasers should ask the right questions of Real Estate Agents to ensure they know the likely net yield on a property before they purchase.

What’s the difference between Fisk & Nagle First Choice, Politicians and Other Real Estate Agents?

Politicians make all sorts of promises in the lead up to an election, trying to convince you that they’re the best choice. We all know how often those promises fall flat!  Real Estate Agents can promise you the world as well.  But with a ramped-up spring selling season underway, you don’t want to make the mistake of listing with an ineffective Agent and “miss the boat”.
So let’s push the promises aside and look at some facts:

Marketing
1.    We won’t charge you a Marketing Fee
2.    Our online marketing strategy will give your home a higher profile than other sellers
3.    Your property will be on more websites than any other local agent.
4.    We use Youtube and Facebook to attract more buyers
5.    Qualified Buyers are emailed when you trust us to sell your home

Negotiation
1.    We get Home Sellers more money in their pocket and we can prove it
2.    Our Sales Consultants train EVERY week in negotiation, relationship-building and client care
3.    Our Sales Consultants have a hotline to industry mentors which gives us the negotiation edge
4.    If a Buyer asks “What will they take?” we answer “The advertised price”.

Client Care
1.    We won’t lie to you, “buy” your listing or ask you to accept an offer from a “tyrekicker”
2.    We use hard evidence to justify the suggested selling price
3.    If we don’t live up to our promises, you don’t have to pay us

Profile & Experience
1.    Fisk & Nagle First Choice has been operating for 40 years
2.    With five offices across the Far South Coast and Cooma, we have better exposure and bigger reach than any other agent in south-east NSW.
3.    Our offices hold the most prominent position in Bega, Cooma, Merimbula, Tura Beach and Eden
4.    Our signage and window displays are bigger, brighter and more noticeable than other agents

Who will you elect to sell your home?

The Internet Has Changed Selling Real Estate

Have you ever thought about how the internet has completely changed the way we buy and sell real estate? Many years ago, home sellers would choose to list their home with a variety of real estate agents. Buyers would walk into their local real estate agent’s office and be taken for a drive by an agent. They were often shown properties that were irrelevant to their requirements. It would take at least a week to find an appropriate house to buy. When an offer was agreed to, the real estate agents would have to drive to the seller to get contracts signed.

In the early 90’s, buyers would generally view properties for sale in a real estate agent’s office window. Sometimes they would use a box-like, large mobile phone to call and enquire. Sellers were more knowledgeable and were beginning to recognise the benefits of exclusive agency listings. The only way, however, buyers could view a property was by physically visiting it. There was no internet.

Every activity used a lot of time. Real estate agents took phooks, and had to wait for them to be developed. If the property was advertised in a local newspaper, the photos and blurb had to be physically handed to the editor. Ownership information had to be obtained, with council permission, from floppy discs. Hand written letters were written to owners, and envelopes sealed with tongues!

How the times have changed. The launch of the internet changed buying and selling real estate in so many ways. Real estate agents were given the opportunity to expose properties to a world-wide market. Ownsership information was instantly accessible, and digital photos could be emailed to buyers, newspapers, and be immediately available for potential buyers to view. There was suddenly more time to spend with customers. Today, the internet saves huge chunks of time. Buyers can sift through properties without even speaking to an agent. When a buyer wants to inspect a property they are usually ready to buy. They can even see what the surrounding houses look like on Google Street View. Social media like YouTube, Facebook and Twitter can expose a property virally, and real estate agents can communicate with both buyers and sellers more efficiently. Technology and the internet has changed the way real estate is bought and sold. If you want maximum exposure for your home, choose a real estate agent who uses the internet and is up to date with technology.

Fisk and Nagle Home Tips- Keeping Your Home Tidy

If you are planning on selling you home in Eden, Bega or Cooma, it must be tidy. These tips will help you stay rganised for those unexpected buyer inspections.

Regularly Throw Out Junk- Instead of doing one major junk haul, do it monthly (or even weekly).
Use Your Time Effectively- Learn how to multi-task. You can sort through junk draws while waiting for your dinner to cook.
Make Storage- It isn’t hard to make magazine holders, or to create a recycling area. Little storage areas will help you organize items that go together, and stop the clutter.
Clothes- There are many pre-loved clothing stores on the Far South Coast that would love to take those unworn clothing items out of your wardrobe. If you haven’t worn it in the last 6-8 months, give it away!
Kitchen- Sort and clean out your cupboards and draws. Put all your things in one large box, and every time you use something, put it away. After a few weeks, the leftover items can be given away.

Buying Your First Investment Property

Whether you are thinking of buying an investment property in Cooma, Tura Beach, Merimbula or Bega, remember these tips:

Growth of Capital- This is at the top because it is the most important. The property you buy in Cooma or Bega, must have the potential to double in value over ten years. You won’t own it forever, and it doesn’t make sense to. Invest your money to make more money.
Location of Property- It doesn’t matter if your buying a unit in Merimbula or a house in Tura Beach, the location must be good. Make sure the investment property is close to schools, shops and entertainment. This way you may be able to charge a higher rental fee, and it will be worth more money when you sell it.
Classical Architecture- Towns like Bega and Cooma have significant architectural styles. If you can purchase an investment property in Bega, in a street with consistent classical design, the investment property will be worth more down the track.
Attractiveness to Renters- Your choice of investment property will ultimately determine the demographic of the tenant. Keep that in mind when purchasing units instead of houses.

Genius Tips on How to Redecorate Your Home on the Far South Coast

Redecorating can be inexpensive. Homes on the Far South Coast have recently stopped spending money on revamping their interiors. By following these simple tips, you can easily achieve the look you want without spending a lot of money.

Write Down Priorities- Plan your redecoration activities. If you write down what you really need to get the look you want for your home on the Far South Coast, you won’t overspend on other unnecessary items.
Shop Around- Look in discount shops, garage sales and on the internet. People often look in the bigger shops for their purchases, and this is not always cost-effective. There are plenty of smaller shops on the Far South Coast offering bargains.
Don’t Pay for Labor- If you can do something yourself, don’t pay someone else to do it! If you are worried that you can’t do something, research the skill first, before you fork out way too much money for unnecessary labor.

The Three Sins of Selling Houses on the Far South Coast

Selling a home on the Far South coast can be a demanding procedure. There are sins that must be avoided when selling property on the Far South Coast, and awareness of these will assist the sale of your home.

Sin 1: Incorrect Price- The most challenging aspect of selling your home on the Far South coast is pricing it correctly. Many sellers make the mistake of placing too much value on their emotional attachment to the property. Listen to your real estate agent on the Far South Coast, look at other similar Far South Coast properties that have recently sold, and remember that your memories mean nothing to the buyer.
Sin 2: Rushed Photography- The buyers that will potentially purchase your Far South Coast property will not necessarily physically inspect it initially. They may live in a different state, and are unable to visit all the properties on the Far South Coast that they like. Instead they will use the internet and several websites to make a list of the properties that they are interested in. If your home is not photographed professionally, it won’t grab their attention.
Sin 3: Inadequate Presentation- As a property seller, you should fix that crack on the lounge room wall, and attain that building inspection! Repairs, maintenance and required inspection reports will ensure your Far South Coast property sells easily and quickly. The benefits of a quick and successful negotiation outweigh the monetary costs of repairs and maintenance.

Fisk and Nagle Real Estate Tips- Kitchen: Most Popular Room in the House?

Over the years, the Australian kitchen has transformed into the core of the house for snacking, eating, gathering, and talking. The small, basic kitchens have been replaced with larger ones with many amenities like islands, multiple sinks, fancy lighting, large fridges and wonderful appliances. What’s desirable? A warm, sociable kitchen.

Before electricity, family kitchens where large but simple. They featured a heat source for cooking and a built in sink without running water. It was where family members performed chores and socialised with each other.

Then, timesaving devices where introduced and fewer people were needed to prepare a meal. There was a loss in social importance of the kitchen. In many cases, the other rooms of the house had become popular, often because the kitchen was too small.

Builders have now changed their plans, as they have realised the importance of the kitchen. Plans have incorporated kitchens as a social room again. Consider how many times you enter your kitchen today. For most families, the kitchen serves as a central hub of the home. Everyone seems to gather around the kitchen!

Fisk and Nagle Real Estate- Tips to Help You Sell

Are you finding it difficult to sell your home? Making some affordable and simple alterations to the décor in your home could make a massive difference, and even get you a higher price. Here are some tips to help you sell-

1. Unclutter and depersonalize: Buyers find it hard to imagine living in a house that is cluttered. Create a light, spacious and inviting house. Remove any bits of furniture that make a room feel crowded, and box up those items that are not essential. And think of this packing away process as a head start on what you will need to do before your move.
2. Remove dated window dressings: Old curtains and broken blinds will do nothing to help you sell. Wooden vertical blinds are cheap and easy to install. Use lighter woods for smaller rooms, and use darker woods for larger ones.
3. Redecorate: Give your walls a fresh coat of paint, especially if they are brightly painted. Choose a neutral shade, it makes it easier for the buyer to visualize how they would use each room.
4. Organize your storage: Put anything you do not need in storage and ensure your cupboards are neat and tidy. Stuffed cupboards make the home look like there isn’t enough storage.
5. Make a feature of your flooring: Get rid of worn and dirty carpet. If there is hardwood floorboards underneath , polish them. If not, give the carpet a good steam clean.
If you follow these five tips, with a little effort and at low cost your home will be much more desirable to buyers.