It pays to check the surrounds

It is important that property buyers are aware of any infrastructure projects or any other type of change of use planned in the vicinity of their proposed purchase. Construction of tunnels, bridges, car parks and the like can have a detrimental impact on property prices. These types of works invariably result in undesirable outcomes such…

Capital growth is king

When it comes to residential property investment capital growth is king. Exceptional capital growth as against rental return will put an investor hundreds of thousands of dollars in front in the medium to long term. Furthermore exceptional capital growth allows an investor to accumulate equity. This makes it possible to purchase additional assets. In my…

Independent sometimes

  Not influenced or controlled by others in matters of opinion, conduct, etc; thinking or acting. This is the dictionary definition of independent. Many organizations in the real estate industry make false claims about being independent. Even the bastion of the “Independent. Always” The Age newspaper can at best in reality be independent sometimes. When…

Property improvers beware

Some property owners are unwittingly breaking the law when undertaking home improvements. In Victoria building regulations state that if total works are greater than $16,000 there must either be a major domestic building contract in place between the property owner and a registered builder or the building owner must register as an owner builder. If…

New underquoting rules

New legislation aimed at curbing underquoting is due to be passed later this year. Unfortunately the new laws are essentially a duplication of the current law. Currently the law says that an estimated selling range must be stated on the authority between the selling agent and vendor. The selling agent cannot advertise an estimated selling…

It pays to check the dirt

I received a call from a client asking me to evaluate and negotiate a block of land in country Victoria. It seemed a straightforward enough assignment. My client’s end goal was to build a home on the property. The owner was selling the land directly so I organised a chat over a cup of coffee.…

Market Snapshot

The Melbourne property market has continued on its merry way in 2015, but there have been signs over the past few months that the upward price acceleration is starting to slow. This is a welcome trend as any further upward movement would be unsustainable. The housing market experienced a strong June 2015 quarter, with the…

The preferred buyer

After pounding the pavement for six months you finally lock eyes on “the one”. It was love at first sight; beautiful with ornate detail, well-maintained with a nicely formed facade, an art deco gem. You expressed your interest to the selling agent and asked to be kept informed of all offers. He looked you in…

The pre-settlement inspection

A standard real estate contract of sale allows the buyer to inspect a property within seven days of settlement. The general condition states that the vendor must deliver the property to the purchaser at settlement in the same condition as the day of sale, except for fair wear and tear. It is important all property…