Men have predominantly been the buyers & sellers for years in Real Estate– however as women become more successful & strive for equality we are finding a lot more women entering the market place. However for most women real estate can be a little boring & the negotiation is usually left up to the male partners, brothers & fathers. I have applied a few simple rules that most women know about dating in how to successfully find & negotiate your way to a new home.
All the rules that apply to finding a partner are exactly how real estate should be approached. For the male readers – what turns you off in a female is the same behaviour that should be avoided when buying real estate – I’m sure some of you will be nodding your head as I cover off on these 5 basic rules.
No. 1 See it as a game – don’t get too attached to any one property. We’ve all heard this before when looking for a partner – “don’t get attached too early otherwise you could wind up hurt” and it is very similar in real estate – don’t set your heart on one particular property. Do your research (Play the field).
No. 2 Buying real estate is like playing hard to get. Many females are very familiar with this term when applying it to finding a partner. However some buyers make the number one mistake of coming across as too “needy”. If the agent isn’t calling then move on to the next house. Agents should be calling you! When finding a partner, females generally give the male some attention and then act nonchalant once the male is interested. Exactly the same rule applies when buying real estate – throw the agent an offer, then wait.
No. 3 Don’t’ babble on (Less is more) – men generally find this boring – however real estate agents find this really interesting, the more you talk about the home your inspecting the more the agent can evaluate how much you actually like the property they are showing you. In saying that do communicate with the agent about what it is you like but be direct and to the point therefore giving yourself every opportunity to find the home suitable for you.
No. 4 Desperation to have someone, anyone, can cause you to settle for less and less is not generally more. Don’t settle for anything less then what you expect in a property – if there is something that doesn’t fit what you are looking for, don’t compromise as you will only regret it later.
No. 5 Too many women are waiting for a rich, handsome, prince charming to sweep them off their feet. I know I said previously don’t settle for anything less than what you are looking for – however there are certain things that you will have to compromise on. I have had too many inspections that find the fridge spot an issue and this has deterred some buyers as their current fridge simply would not fit. Nothing will ever be this perfect – so there are some things that you must compromise on.
By no means am I a wiz at dating however follow these simple rules and you can’t go wrong… don’t take it all too seriously, remember there is no rush – and always play a little hard to get.
Thursday, December 3, 2009
Wednesday, October 28, 2009
Grand Final Day in Munich(Oktoberfest)
Back at work after 4 weeks away is always a little difficult – so to get me back into the swing of things I am going to recount some parts of my holiday for you.The first destination of my trip overseas was Munich. I don’t know whether I can actually claim that I’ve been there however I was there in body, not in mind & spent most waking hours at Oktoberfest, (claimed to be the biggest party in the world & I’m certainly not going to disagree with that). The Germans know how to throw a party.
So I travelled to the other side of the world to be inside a tent during the day and to sleep in a room with 40 other people, sharing with them 8 toilets, 8 showers & 6 basins. You could say I was a little out of my comfort zone. For the record we were paying 190 pounds (roughly $126 a night to stay in this luxurious place in Munich). To add to all this I am not a huge beer drinker and one stein alone carries 4 Australian pots.
The first night in Munich I got little sleep – trying to sleep with ear plugs, eye mask & a towel over your head isn’t the most comfortable way to sleep however I was trying anything possible without taking a sleeping tablet I was prescribed for the long flight to UK.
We were up at 3:45am woken by a fellow traveller, slipped into our Heidi outfits and walked the streets of Munich to find the one and only pub televising the Grand Final & LIVE. Left the Hostel by 4:15am arrived at the Ned Kelly Bar by 4:30am. It must be noted that I do not love football this much however it sure beat staying in the dorm listening to the fellow travellers come home from their boozy night out. By 5:30am there was a line of 150 people deep – the pub finally opened and our first beers were ordered at 5:32am. It was mind blowing to see sooo many fellow Aussies desperate to get a glimpse of the Grand Final.
It didn’t even have to be the AFL Grand Final, it could’ve been any other sporting event that Australians were involved in and a crowd would have been there in full voice. And for those Aussies that hadn’t been home for years or those who had been travelling for long periods of time or people like myself who had just arrived a week ago, at that pub we were miles from Australia yet when Jimmy Barnes played Khaysan we all felt at home. We are a very patriotic and passionate lot; a little mad at times however we love our country and its sport.It’s not unlike the Anzac Day tradition at Anzac Cove. What has kept this tradition alive is the patriotic Australians travelling around the world.
However, when it comes to Australians buying real estate all this is thrown out the window. We let the media influence our thoughts, we let the RBA affect when we buy, and we let our head control us over our heart. Buying a house or as Darryl Kerrigan from the Castle claims “it’s not a house it’s a home” should always be bought when it feels right for you. When you are financially able, not when the Government wants you to (which is when they are usually handing out the grants), not when your parents want you to (when they are offering to contribute towards your home), it’s when you feel ready to make that sort of commitment & find the right home that’s suitable for you.
If Australians were only this passionate about buying the right property as they are towards their sport then no one would have any regrets. In the end if you buy when you want and when you find the right property for you – there should be no misgivings.
It’s those little moments like at Oktoberfest & the Ned Kelly Bar when you see everyone come together that makes you proud to be an Australian – let’s convert this passion to every aspect in our lives.
Monday, September 14, 2009
SSSS
Right, well I am only 4 days away till I take off on a jet plane to see 4 expatriates (my close friends) who have made the break to London since leaving school. Riddled with excitement as I get into bed most nights this excitement gets overtaken by the fear of the dreaded word on any boarding pass “SSSS”. Now many of you will not know what I am referring to, however those who do, know my pain.
It all started when my family went to America two Christmases ago. My parent’s first overseas trip. It was not unlike European Vacation (Chevy Chase, if you’ve ever seen it).
Yes we may be nicknamed the Griswalds however intentionally harmful we are not. It all started as the four of us finally got to the check in counter at Tullamarine Airport – Christmas Eve – what’s not to be happy about. It’s Christmas Eve & we are waking up Christmas morning in Hawaii & spending New Years in Vegas (yes it was my brother and I that planned the trip). After many phone calls later by the check-in staff and 30 minutes of standing at the counter with impatient people tapping their feet behind us, the smiles soon disappeared. From here to the security checkpoint we were all pulled aside for every sort of security check imaginable. This SSSS that had magically popped up on our boarding passes we found out later stood for "Secondary Security Screening Selection". This followed us every where we went around America. This meant arriving at the airport an hour earlier to obtain the extra security checks. All this I was coping with until it reached the point where we were at Las Vegas airport ready to fly out to New York. Our entire family was pushed to one side & frisked in front of everyone about to board the plane! Yes you heard me right frisked. I bet everyone about to board the plane were praying not to be seated next to us.
So you can now understand my concern for travelling. I have been humiliated in front of an entire plane & singled out to be a threat to everyone’s well being and made feel like a terrorist however, despite all this I do respect that these checks should be in place especially after the horrible events of Sept 11. Security checks make everyone feel safe prior to boarding that plane and the same can be applied when looking to buy that house. So I am going to run you through the important checks that you should undertake before purchasing a home so you will be comfortable & feel safe with your decision.
Pest Inspection:
Most solicitors/conveyancers will advise you to get a Pest Inspection done before purchasing a home. I have never had a house which has had a Termite Inspection come back with active termites, touch wood, however I would still instruct any purchaser to take this check. Termites are one thing that aren’t covered under an Insurance Policy and you could easily find, that great purchase where you saved $50,000 – is now crumbling around you (extreme circumstances).
Chattels:
Make sure you check to see that everything is in working order before you actually put an offer forward on a home. If something isn’t working you can then either request for it to be fixed upon purchasing or at least you will know what costs you will be up for once you settle on the home. If there is anything that you are unsure about that you would like to be bought with the property, make sure this is negotiated and specified in the contract. Something that you may think is fixed – actually is not, and you could move in the day of settlement to find it gone.
Building Inspection:
A building inspection is something people generally apply to older homes however I have seen in more recent times it is something that people are requesting even on brand new homes. You must remember the purchase of your home will be one of the biggest transactions in your life – for the cost of the building inspection and your piece of mind it may be worth doing. If you are buying a home with the thought of renovating it is advisable to check with a builder first before buying the home as your great idea for a renovation may not be viable.
The other minor things that I would suggest you look into would be council planning around your area to see if there are any future developments and if this will or will not effect the value of what you are purchasing. It’s also handy to know if there are any easements on the property, if there are you need to know where they are located on the block. Also the other common check is for people to investigate the street they are buying into at different times of the day. Make sure it is an area you feel comfortable buying into.
You can ignore any of these checks at your own peril. It’s like the Security Checks at the airport, I only complain & think it’s unnecessary because it’s happening to me however as the old cliché goes you are “better to be safe then sorry”.
It all started when my family went to America two Christmases ago. My parent’s first overseas trip. It was not unlike European Vacation (Chevy Chase, if you’ve ever seen it).
Yes we may be nicknamed the Griswalds however intentionally harmful we are not. It all started as the four of us finally got to the check in counter at Tullamarine Airport – Christmas Eve – what’s not to be happy about. It’s Christmas Eve & we are waking up Christmas morning in Hawaii & spending New Years in Vegas (yes it was my brother and I that planned the trip). After many phone calls later by the check-in staff and 30 minutes of standing at the counter with impatient people tapping their feet behind us, the smiles soon disappeared. From here to the security checkpoint we were all pulled aside for every sort of security check imaginable. This SSSS that had magically popped up on our boarding passes we found out later stood for "Secondary Security Screening Selection". This followed us every where we went around America. This meant arriving at the airport an hour earlier to obtain the extra security checks. All this I was coping with until it reached the point where we were at Las Vegas airport ready to fly out to New York. Our entire family was pushed to one side & frisked in front of everyone about to board the plane! Yes you heard me right frisked. I bet everyone about to board the plane were praying not to be seated next to us.
So you can now understand my concern for travelling. I have been humiliated in front of an entire plane & singled out to be a threat to everyone’s well being and made feel like a terrorist however, despite all this I do respect that these checks should be in place especially after the horrible events of Sept 11. Security checks make everyone feel safe prior to boarding that plane and the same can be applied when looking to buy that house. So I am going to run you through the important checks that you should undertake before purchasing a home so you will be comfortable & feel safe with your decision.
Pest Inspection:
Most solicitors/conveyancers will advise you to get a Pest Inspection done before purchasing a home. I have never had a house which has had a Termite Inspection come back with active termites, touch wood, however I would still instruct any purchaser to take this check. Termites are one thing that aren’t covered under an Insurance Policy and you could easily find, that great purchase where you saved $50,000 – is now crumbling around you (extreme circumstances).
Chattels:
Make sure you check to see that everything is in working order before you actually put an offer forward on a home. If something isn’t working you can then either request for it to be fixed upon purchasing or at least you will know what costs you will be up for once you settle on the home. If there is anything that you are unsure about that you would like to be bought with the property, make sure this is negotiated and specified in the contract. Something that you may think is fixed – actually is not, and you could move in the day of settlement to find it gone.
Building Inspection:
A building inspection is something people generally apply to older homes however I have seen in more recent times it is something that people are requesting even on brand new homes. You must remember the purchase of your home will be one of the biggest transactions in your life – for the cost of the building inspection and your piece of mind it may be worth doing. If you are buying a home with the thought of renovating it is advisable to check with a builder first before buying the home as your great idea for a renovation may not be viable.
The other minor things that I would suggest you look into would be council planning around your area to see if there are any future developments and if this will or will not effect the value of what you are purchasing. It’s also handy to know if there are any easements on the property, if there are you need to know where they are located on the block. Also the other common check is for people to investigate the street they are buying into at different times of the day. Make sure it is an area you feel comfortable buying into.
You can ignore any of these checks at your own peril. It’s like the Security Checks at the airport, I only complain & think it’s unnecessary because it’s happening to me however as the old cliché goes you are “better to be safe then sorry”.
Friday, August 21, 2009
The dreaded winter Cold!
Well I know for a fact that I am not the only one that has been suffering from a cold over the last couple of weeks. I believe nearly every second person I have spoken to has fallen victim to the dreaded wintery blues. On the upside Spring is only around the corner where hopefully things will start warming up along with my Body temperature.
I regard a cold or the flu as long, painful & unnecessary. There is a process that you have to go through that makes it feel like it hangs around forever. First it’s the sore throat, then it’s the body aches, then a fever, then a runny nose, then a dry cough then a chesty cough. Lucky for me this time I got to skip to the dry cough however this didn’t come without pain believe me. I was taking manuka honey, vitamin C & green tea (all natural remedies) with Coldeze, Panadol, Cough Lollies, Vicks, 3 Dooners & sleeping with a scarf around my neck which for the record is as uncomfortable as it sounds. In the midst of feeling sorry for myself – my mother made me realise that all this could’ve been avoided if I hadn’t had so many late nights. You only have to read my last few blogs to realise I’ve been enjoying a bit of a social life of late.
A similar thing could be said for properties that have been on the market well past their expiry date – Long, Painful & unnecessary. Like my cold there is some precautions that can be taken so you can be certain your property isn’t sitting on the market for long.
First rule is Presentation:
It’s starting to become more common for people to request our opinion on furniture & presentation of a home. We simply find it’s the little things that make the most difference: ie unclutter your fridge door, minimise furniture to make the room look bigger or more open. Anything you don’t need stick it in the shed or storage. Check which lights best show off your home – make sure these are turned on before an inspection. Tidy up things that are visible to the eye, as much as the children’s finger paintings are great it’s probably best to stow them away through the first couple of weeks of the campaign & also tidy bookshelves. Fix any little problems that you can clearly see. ie: Hole in the wall.
Second rule is Pricing.
The stories that you hear where a vendor gets a price well above the odds is the exception not the rule (so keep this in mind). By putting an unrealistic figure on your home hoping to get the ultimate price can do one of two things – you may fluke someone walking through & paying close to the figure or you risk your property sitting on the market for 6 months where buyers will immediately discount it – as there is a buyers belief that if it hasn’t sold there has to be a reason. There are 3 things to do which help you determine an accurate pricing on your home without feeling like you are short changing yourself. It’s about working out what you think it’s worth, you can organise to have a registered valuation done & an Agent’s opinion – the pricing of your home is usually somewhere in the middle. I understand agents can be wrong at times so sourcing an independent valuer is always a great way to get another opinion. It must be kept in mind however that valuer’s don’t determine what the market’s doing. Also from an owners perspective it is important to be active in the market place, seeing what’s on the market, what similar properties are selling for and also making your property competitive compared to what else is already on the market. Listen to you agent & put a realistic price on your property as soon as it hit’s the market.
Third rule is access to your home.
There are some investors out there that try and sell their homes with tenants still in the property & you can’t get through when a buyer requests an inspection. I have had one situation where I had to write to tenants giving them 7 days notice because I couldn’t get on to them with the numbers they provided. By the time I turned up to do the inspection I still had not heard from them. They were home when I did the inspection however they had failed to return my calls or reply to my letter. Don’t be fussy about cleanliness, obviously keep your home tidy however if the agent says the buyer really needs to get through it today as they are going back to Melbourne tomorrow – just go with it.
Following these simple rules will prevent your property from sitting on the market too long. As for the common cold the main solution to making sure it doesn't hang around to long is to rest up, don’t overdo it, eat healthy & take your vitamins.
I regard a cold or the flu as long, painful & unnecessary. There is a process that you have to go through that makes it feel like it hangs around forever. First it’s the sore throat, then it’s the body aches, then a fever, then a runny nose, then a dry cough then a chesty cough. Lucky for me this time I got to skip to the dry cough however this didn’t come without pain believe me. I was taking manuka honey, vitamin C & green tea (all natural remedies) with Coldeze, Panadol, Cough Lollies, Vicks, 3 Dooners & sleeping with a scarf around my neck which for the record is as uncomfortable as it sounds. In the midst of feeling sorry for myself – my mother made me realise that all this could’ve been avoided if I hadn’t had so many late nights. You only have to read my last few blogs to realise I’ve been enjoying a bit of a social life of late.
A similar thing could be said for properties that have been on the market well past their expiry date – Long, Painful & unnecessary. Like my cold there is some precautions that can be taken so you can be certain your property isn’t sitting on the market for long.
First rule is Presentation:
It’s starting to become more common for people to request our opinion on furniture & presentation of a home. We simply find it’s the little things that make the most difference: ie unclutter your fridge door, minimise furniture to make the room look bigger or more open. Anything you don’t need stick it in the shed or storage. Check which lights best show off your home – make sure these are turned on before an inspection. Tidy up things that are visible to the eye, as much as the children’s finger paintings are great it’s probably best to stow them away through the first couple of weeks of the campaign & also tidy bookshelves. Fix any little problems that you can clearly see. ie: Hole in the wall.
Second rule is Pricing.
The stories that you hear where a vendor gets a price well above the odds is the exception not the rule (so keep this in mind). By putting an unrealistic figure on your home hoping to get the ultimate price can do one of two things – you may fluke someone walking through & paying close to the figure or you risk your property sitting on the market for 6 months where buyers will immediately discount it – as there is a buyers belief that if it hasn’t sold there has to be a reason. There are 3 things to do which help you determine an accurate pricing on your home without feeling like you are short changing yourself. It’s about working out what you think it’s worth, you can organise to have a registered valuation done & an Agent’s opinion – the pricing of your home is usually somewhere in the middle. I understand agents can be wrong at times so sourcing an independent valuer is always a great way to get another opinion. It must be kept in mind however that valuer’s don’t determine what the market’s doing. Also from an owners perspective it is important to be active in the market place, seeing what’s on the market, what similar properties are selling for and also making your property competitive compared to what else is already on the market. Listen to you agent & put a realistic price on your property as soon as it hit’s the market.
Third rule is access to your home.
There are some investors out there that try and sell their homes with tenants still in the property & you can’t get through when a buyer requests an inspection. I have had one situation where I had to write to tenants giving them 7 days notice because I couldn’t get on to them with the numbers they provided. By the time I turned up to do the inspection I still had not heard from them. They were home when I did the inspection however they had failed to return my calls or reply to my letter. Don’t be fussy about cleanliness, obviously keep your home tidy however if the agent says the buyer really needs to get through it today as they are going back to Melbourne tomorrow – just go with it.
Following these simple rules will prevent your property from sitting on the market too long. As for the common cold the main solution to making sure it doesn't hang around to long is to rest up, don’t overdo it, eat healthy & take your vitamins.
Thursday, August 13, 2009
City V's Country
I took a 4 hour trip to Flinders on the weekend with 8 girls that I went to school with. For those of you who have never heard of Flinders it’s a sleepy little town along the coast of the Mornington Peninsula and on a beautiful sunny day you can see Phillip Island from the shore.
It’s the first time all of us had been away since we made a break to schoolies at the end of our time spent in the class room. I was amazed how much our actions & conversation had changed over the 6 years since we have been out of school. We weren’t as brazen as we used to be, now preferring a nice glass of white or red wine over cheap red bears and cruisers we were drinking at schoolies but that wasn’t the only thing that had changed. Our conversations had turned from talking about exams and TER scores to private health insurance, purchasing homes & mortgage & car repayments.
We had an even split with City v’s Country if you exclude me from the bunch. There were 4 city girls & 4 country girls.
The main difference I saw between the girls from the city & the country is that their conversations were slightly different. The country girls seemed to have either bought or were talking about buying their first home & discussing mortgage repayments whilst this wasn’t a thought on the radar for the city girls. It made me ponder the idea - if this is the case, is living in the country more beneficial to you financially when starting out? A significant factor for this is Real Estate prices in the country compared to those in the city. Will the country girls be more financially stable as they are able to break in to the real estate market a lot earlier then those who are living in Melbourne?
The girls in the country are repaying mortgages instead of paying rent & hopefully getting some capital growth along the way – all this is formed around the affordability of living & buying in Echuca over living & contemplating the dream of buying a house or apartment in inner Melbourne.
The start of my compulsive saving went hand in hand with my first purchase of Real Estate. It gave me something to aspire to and save towards. I have since sold the house that I built with my brother which has left me in a far better financial position than I was before my first real estate purchase.
I see some obvious benefits of living in Melbourne. They have the major events ie: sporting, entertainment, however all of this costs money.
I did have a short stint in Melbourne and the pinnacle reason for my return was because I was able to save and make a life in Echuca & could therefore do more of the things I wanted to do because I was more financially stable. It hasn’t always been easy with friends living it up in the city – having extremely exciting social lives. However, I can now afford to go away for weekends to Flinders or go to Melbourne to catch up with my friends & also do what I am most passionate about, which is travel.
Starting out and getting your foot into the real estate door is always a tough decision. It’s an even harder decision when the First Home Buyer range is between $400,000 - $500,000 in inner city Melbourne. Echuca is a great place to call home and helps me with my journey to financial stability. I don’t feel like I have missed out on what my other city friends have because everything they have done I have experienced it with them.
It’s the first time all of us had been away since we made a break to schoolies at the end of our time spent in the class room. I was amazed how much our actions & conversation had changed over the 6 years since we have been out of school. We weren’t as brazen as we used to be, now preferring a nice glass of white or red wine over cheap red bears and cruisers we were drinking at schoolies but that wasn’t the only thing that had changed. Our conversations had turned from talking about exams and TER scores to private health insurance, purchasing homes & mortgage & car repayments.
We had an even split with City v’s Country if you exclude me from the bunch. There were 4 city girls & 4 country girls.
The main difference I saw between the girls from the city & the country is that their conversations were slightly different. The country girls seemed to have either bought or were talking about buying their first home & discussing mortgage repayments whilst this wasn’t a thought on the radar for the city girls. It made me ponder the idea - if this is the case, is living in the country more beneficial to you financially when starting out? A significant factor for this is Real Estate prices in the country compared to those in the city. Will the country girls be more financially stable as they are able to break in to the real estate market a lot earlier then those who are living in Melbourne?
The girls in the country are repaying mortgages instead of paying rent & hopefully getting some capital growth along the way – all this is formed around the affordability of living & buying in Echuca over living & contemplating the dream of buying a house or apartment in inner Melbourne.
The start of my compulsive saving went hand in hand with my first purchase of Real Estate. It gave me something to aspire to and save towards. I have since sold the house that I built with my brother which has left me in a far better financial position than I was before my first real estate purchase.
I see some obvious benefits of living in Melbourne. They have the major events ie: sporting, entertainment, however all of this costs money.
I did have a short stint in Melbourne and the pinnacle reason for my return was because I was able to save and make a life in Echuca & could therefore do more of the things I wanted to do because I was more financially stable. It hasn’t always been easy with friends living it up in the city – having extremely exciting social lives. However, I can now afford to go away for weekends to Flinders or go to Melbourne to catch up with my friends & also do what I am most passionate about, which is travel.
Starting out and getting your foot into the real estate door is always a tough decision. It’s an even harder decision when the First Home Buyer range is between $400,000 - $500,000 in inner city Melbourne. Echuca is a great place to call home and helps me with my journey to financial stability. I don’t feel like I have missed out on what my other city friends have because everything they have done I have experienced it with them.
Thursday, August 6, 2009
Gen Z keeps this Gen Y on her toes!
Last week, a young work experience student – Harry – came in to the office to learn the ropes about Real Estate. It was refreshing to have Harry in the office with his vibrant attitude and a strong eagerness to learn.
It made me remember the first time I decided that selling real estate was going to be my chosen profession. I was 16 and had arranged to do a week of work experience at a Graphic Design firm in the heart of Melbourne. I was staying with my uncle who was the manager of a boutique real estate office in South Yarra along Toorak road. I would go to work with him in the mornings and make my way down to St Kilda road for my week of work experience. After the first few days I realised the best part of my day had been going to work with my uncle in the mornings and chatting to the staff before they started their day. They were lively, fun, vibrant and I felt like it would be a great industry to work in. Little did I know that same office would be where I would start my real estate career 3 years later.
Harry probably felt like he was here to learn from us (technically he was), however I felt it was the other way around. His skills & positive attitude with the feeling that the world is his oyster was something that rubbed off when I was working with Harry.
It made me first of all appreciate that life is short because it felt like only yesterday that I was doing work experience myself with the pressures of finding a suitable career. Harry also made me realise that the younger generation have a lot to offer. Their ideas are fresh, their minds are eager & they pick up on things so quickly. It is easy to get into the every day grind and forget to be inspired or to give yourself time to grow your ideas or how important it is to work in an environment where your ideas are appreciated and respected.
I spoke to Harry about his thoughts on going into schools and chatting to Year 12 students about Housing and everything that awaits them when they leave school. We discussed how difficult it is to find a home when you have never rented and how difficult it is to save money when you have nothing to save towards. He gave me some great ideas on what would work and what wouldn’t.
One thing Harry made me realise is; as I grow older and wiser (I hope), I will make a commitment to keep learning & to continue to develop new ideas, new ways of doing things end evolve with the use of technology. It will be essential for me to continue practising & honing my skills as everything in life has an expiry date and there is always a newer model.
It’s like my grandmother at the ripe old age of 69 – asking me to teach her how to text 6 months ago. I commend her on continuing to learn as it’s too easy not to.
Last but not least I would like to write a note to my ex school teacher who has subscribed to my blog – thank you for your support & words of wisdom last week. You continue to teach & inspire me long after I have left the classroom.
It made me remember the first time I decided that selling real estate was going to be my chosen profession. I was 16 and had arranged to do a week of work experience at a Graphic Design firm in the heart of Melbourne. I was staying with my uncle who was the manager of a boutique real estate office in South Yarra along Toorak road. I would go to work with him in the mornings and make my way down to St Kilda road for my week of work experience. After the first few days I realised the best part of my day had been going to work with my uncle in the mornings and chatting to the staff before they started their day. They were lively, fun, vibrant and I felt like it would be a great industry to work in. Little did I know that same office would be where I would start my real estate career 3 years later.
Harry probably felt like he was here to learn from us (technically he was), however I felt it was the other way around. His skills & positive attitude with the feeling that the world is his oyster was something that rubbed off when I was working with Harry.
It made me first of all appreciate that life is short because it felt like only yesterday that I was doing work experience myself with the pressures of finding a suitable career. Harry also made me realise that the younger generation have a lot to offer. Their ideas are fresh, their minds are eager & they pick up on things so quickly. It is easy to get into the every day grind and forget to be inspired or to give yourself time to grow your ideas or how important it is to work in an environment where your ideas are appreciated and respected.
I spoke to Harry about his thoughts on going into schools and chatting to Year 12 students about Housing and everything that awaits them when they leave school. We discussed how difficult it is to find a home when you have never rented and how difficult it is to save money when you have nothing to save towards. He gave me some great ideas on what would work and what wouldn’t.
One thing Harry made me realise is; as I grow older and wiser (I hope), I will make a commitment to keep learning & to continue to develop new ideas, new ways of doing things end evolve with the use of technology. It will be essential for me to continue practising & honing my skills as everything in life has an expiry date and there is always a newer model.
It’s like my grandmother at the ripe old age of 69 – asking me to teach her how to text 6 months ago. I commend her on continuing to learn as it’s too easy not to.
Last but not least I would like to write a note to my ex school teacher who has subscribed to my blog – thank you for your support & words of wisdom last week. You continue to teach & inspire me long after I have left the classroom.
Friday, July 24, 2009
"Life is like a Juice Maker"
I was out in Melbourne the other weekend at a bar in South Yarra & after a few drinks I was having a conversation with a writer from the UK. He is a couple of months off getting his book published and I can’t for the life of me remember his name to unfortunately quote him in this blog. He was an eccentric character as most writers usually are. He begun to tell me his theory on life – I felt obligated to listen to the self involved conversation as he was one of those personalities that you felt like you couldn’t escape. His comment was “Life is like an orange juice maker, you put that many bloody oranges in to only get a measly quarter of a cup” = you put that much effort into life to get little in return. I immediately thought it was a little cynical - if i was talking to the pom after the first test of the ashes he may've been a little more optimistic. (For the record if anyone reads a book and this analysis is in chapter 2, this is the guy I was talking to)
The next day I compared it to Real Estate and found there are a few mistakes which people commonly make that creates a situation where they put all those oranges in the juice maker only to receive a quarter of a cup.
Number 1 Mistake: Over capitalizing
The neighbor’s houses and the presentation of the area have considerable influence on the value of homes in the area. Before buying or building it is important to consider the housing styles, demographics of your neighborhood, and sale prices of other homes in the area that have recently sold.
The decision to buy, build or renovate a new home is not one to be taken lightly. It is recommended that you think through every aspect of the project prior to getting started. Seek the advice of a local real estate professional if necessary to determine how the proposed renovations will affect the value of your home.
A general rule-of-thumb for remodeling is to make sure that you don't over-improve your home for the neighborhood. From an investment position it's not a good idea, to improve your home to the point that it's best house on the block.
Number 2 Mistake: Renovating
Renovation is more expensive then what people think – working on older homes to restore it to it’s original condition is a very expensive process. Interior and exterior cracking is usually commonly found in older homes which can generally mean some issues with the foundation. Re-stumping is a costly job that older homes usually need to have redone. Electrical work is another major issue considering that there are new compliances that electricians need to follow. Re-wiring a home can also be a costly job & the chances are the more you dig around beneath the surface the more work you will find – which in turn means more costs
Common issues are:
Roof
Stumps
Rewiring and replumbing
Shower recesses
Pest (particularly white ant) damage
The costly exercise of renovating your home may not reap the rewards at the end when you need to re-sell
Number 3 Mistake: Building/Buying your dream home
Do not buy or build your dream home. You should always take emotion out of buying a home. Ask anyone who has bought and sold and I am sure they have made this mistake.
I know I have. I built a home & it was, I thought, ideal family home – 4bedrooms, 1, study, 2 bathrooms, ONLY 1 LIVING AREA. I never found only having one living area an issue when I was living in the home, after all there was only two people living there – myself and my brother. However a problem arose when my brother moved to Melbourne and we put the house on the market. Everything was built perfectly for a family yet we compromised on a living area because at the time we didn’t need it. If you put your emotions into buying or building I guarantee you will be short changed at the other end. It proved a costly mistake The truth is very few people live in the one home all their lives.
So now what I would say to the pom after pondering his quote on life – is you can get out what you put in – add water to the juice maker or simply thoroughly research every property investment you make. Everyone wants to get out of it what they put in or more!
The next day I compared it to Real Estate and found there are a few mistakes which people commonly make that creates a situation where they put all those oranges in the juice maker only to receive a quarter of a cup.
Number 1 Mistake: Over capitalizing
The neighbor’s houses and the presentation of the area have considerable influence on the value of homes in the area. Before buying or building it is important to consider the housing styles, demographics of your neighborhood, and sale prices of other homes in the area that have recently sold.
The decision to buy, build or renovate a new home is not one to be taken lightly. It is recommended that you think through every aspect of the project prior to getting started. Seek the advice of a local real estate professional if necessary to determine how the proposed renovations will affect the value of your home.
A general rule-of-thumb for remodeling is to make sure that you don't over-improve your home for the neighborhood. From an investment position it's not a good idea, to improve your home to the point that it's best house on the block.
Number 2 Mistake: Renovating
Renovation is more expensive then what people think – working on older homes to restore it to it’s original condition is a very expensive process. Interior and exterior cracking is usually commonly found in older homes which can generally mean some issues with the foundation. Re-stumping is a costly job that older homes usually need to have redone. Electrical work is another major issue considering that there are new compliances that electricians need to follow. Re-wiring a home can also be a costly job & the chances are the more you dig around beneath the surface the more work you will find – which in turn means more costs
Common issues are:
Roof
Stumps
Rewiring and replumbing
Shower recesses
Pest (particularly white ant) damage
The costly exercise of renovating your home may not reap the rewards at the end when you need to re-sell
Number 3 Mistake: Building/Buying your dream home
Do not buy or build your dream home. You should always take emotion out of buying a home. Ask anyone who has bought and sold and I am sure they have made this mistake.
I know I have. I built a home & it was, I thought, ideal family home – 4bedrooms, 1, study, 2 bathrooms, ONLY 1 LIVING AREA. I never found only having one living area an issue when I was living in the home, after all there was only two people living there – myself and my brother. However a problem arose when my brother moved to Melbourne and we put the house on the market. Everything was built perfectly for a family yet we compromised on a living area because at the time we didn’t need it. If you put your emotions into buying or building I guarantee you will be short changed at the other end. It proved a costly mistake The truth is very few people live in the one home all their lives.
So now what I would say to the pom after pondering his quote on life – is you can get out what you put in – add water to the juice maker or simply thoroughly research every property investment you make. Everyone wants to get out of it what they put in or more!
Thursday, July 16, 2009
Cheap Tricks!
I can not stand the River’s clothing store adds on television, and I don’t think the cheese stands alone. Yes, most people hate them but we’ve all watched them. Most of all, I hate the cheap ploys that they use to get me to watch the television. For example the advertisements come on in between a program I am watching – all of a sudden a high pitched scream belts out of my television – OF COURSE I AM GOING TO LOOK UP. Or the old chestnut when you are listening to the background noise of the television then suddenly everything falls silent – what’s happened to my television? OF COURSE, YOU LOOK UP. They have used every little trick in the book to make you watch the advertisement. Marketing heaven or marketing hell I’m not sure, although I can still tell you every bargain or sale they’ve got on. I think this week is something to do with women’s $18 knits. So they have successfully got my attention – but would I ever buy the product?
A similar theory goes when buying a property. It may be an appealing photo used for marketing but unless the property is priced right then no one will ever call for an inspection. Or it could be the other way around – the price could be extremely appealing however upon inspection it is not how it was presented in the marketing.
If a property’s price sounds too good to be true – it usually is (exceptions are; deceased estates, mortgagee sales, vendors relocating etc), so find out why it is and if it is something that will or will not effect you. Buyers also have to be aware of the cheap marketing tricks used by some agents. I will never re-iterate this enough the only way to know you aren’t paying too much for a property is to do your reseach. Get out there – go to open houses – keep up to date with what’s selling and what price properties sell for. Get your agent working for you. They should be informing you of new listings, price adjustments, or properties that you have previously inspected that are since sold.
In answering my question above, I probably wouldn’t buy a product that a company is flogging if they have purely used cheap tricks to get my attention in the first place. It can also give the impression cheap tricks = cheap product. This is also very similar to the process of choosing a real estate agent or company to sell your property on your behalf. Just because you go with the cheapest agent doesn’t mean you are going to get the best result. Countless times I have witnessed Vendor’s go for the cheaper agent.
Rule No 1. An agent shouldn’t be chosen based on commission alone – it’s just bad business. You have to approach this the same way as if you were buying a house. Research who is getting the results, research who has the most listings, talk to people – more often then not everyone will have an opinion on Real Estate agents. Also the quicker the agent is to drop their commission – you can guarantee they will be doing the same at the other end – dropping the price to get the sale.
Rule No 2. Do not appoint an agent because they have the cheapest marketing campaign. Once again you get what you pay for. This is the most crucial part to selling your property. If the agent is only putting the smallest ad in the newspaper how then can you be sure that every single person is being targeted who could be interested in buying your property. Everyone knows, the more interested parties you get the better chance you have of achieving your asking price or a property selling for above your expectations.
The simple solution I can offer for all of this is…RESEARCH and be mindful of the cheap tricks.
A similar theory goes when buying a property. It may be an appealing photo used for marketing but unless the property is priced right then no one will ever call for an inspection. Or it could be the other way around – the price could be extremely appealing however upon inspection it is not how it was presented in the marketing.
If a property’s price sounds too good to be true – it usually is (exceptions are; deceased estates, mortgagee sales, vendors relocating etc), so find out why it is and if it is something that will or will not effect you. Buyers also have to be aware of the cheap marketing tricks used by some agents. I will never re-iterate this enough the only way to know you aren’t paying too much for a property is to do your reseach. Get out there – go to open houses – keep up to date with what’s selling and what price properties sell for. Get your agent working for you. They should be informing you of new listings, price adjustments, or properties that you have previously inspected that are since sold.
In answering my question above, I probably wouldn’t buy a product that a company is flogging if they have purely used cheap tricks to get my attention in the first place. It can also give the impression cheap tricks = cheap product. This is also very similar to the process of choosing a real estate agent or company to sell your property on your behalf. Just because you go with the cheapest agent doesn’t mean you are going to get the best result. Countless times I have witnessed Vendor’s go for the cheaper agent.
Rule No 1. An agent shouldn’t be chosen based on commission alone – it’s just bad business. You have to approach this the same way as if you were buying a house. Research who is getting the results, research who has the most listings, talk to people – more often then not everyone will have an opinion on Real Estate agents. Also the quicker the agent is to drop their commission – you can guarantee they will be doing the same at the other end – dropping the price to get the sale.
Rule No 2. Do not appoint an agent because they have the cheapest marketing campaign. Once again you get what you pay for. This is the most crucial part to selling your property. If the agent is only putting the smallest ad in the newspaper how then can you be sure that every single person is being targeted who could be interested in buying your property. Everyone knows, the more interested parties you get the better chance you have of achieving your asking price or a property selling for above your expectations.
The simple solution I can offer for all of this is…RESEARCH and be mindful of the cheap tricks.
Thursday, July 9, 2009
“Tap your heels together 3 times…There is no place like home”
Before I start this week’s blog I will let you know that I live at Westwood Park and therefore may have a biased opinion on the area.
The area I live in at Westwood Park is the perfect place for me to call home. We have fantastic neighbours on both sides. One side we have some empty nesters whose children have flown the coup. They include a water trader & also a business owner, on the other side we have a first home buyer who is rarely home, working away in the mines. Other people in our street include; business owners, ex-business owners, factory managers, factory workers etc.
All in all, our street is a very social one. City slickers rarely understand this – it is important for people who have grown up in country areas to know their neighbours, it provides a safety net. Our street is a congregation of people from all over: Boort, Ouyen, Geelong, Cohuna, Kyabram, as well as New Zealand & Ireland.
Every year we have a street Christmas Party – Santa, otherwise known as Rob my neighbour (safe to say after a bottle of wine) reluctantly arrives to deliver the children their presents. It’s a good opportunity for everyone to have a catch up before the busy Christmas period. It is not unusual in the court to hear the tunes from the street party going until the wee hours of the morning (with the broom becoming the centre piece, substituting as a microphone). I have also come home many a night to the neighbours congregating on a front lawn having a monthly catch up.
With the estate now almost completely full I have had some good sales in the area over my period of time in Real Estate ranging from $300k to $400k. There are also properties in the estate ranging from between $250,000 through to $600,000. The time and effort put into constructing some of the homes and surrounds have been phenomenal. As an investment new properties are always in demand for executive tenants or people in between building their home.
Our neighbours are more like family, they go above and beyond the call of just borrowing a cup of sugar.
“There is no place like home”.
The area I live in at Westwood Park is the perfect place for me to call home. We have fantastic neighbours on both sides. One side we have some empty nesters whose children have flown the coup. They include a water trader & also a business owner, on the other side we have a first home buyer who is rarely home, working away in the mines. Other people in our street include; business owners, ex-business owners, factory managers, factory workers etc.
All in all, our street is a very social one. City slickers rarely understand this – it is important for people who have grown up in country areas to know their neighbours, it provides a safety net. Our street is a congregation of people from all over: Boort, Ouyen, Geelong, Cohuna, Kyabram, as well as New Zealand & Ireland.
Every year we have a street Christmas Party – Santa, otherwise known as Rob my neighbour (safe to say after a bottle of wine) reluctantly arrives to deliver the children their presents. It’s a good opportunity for everyone to have a catch up before the busy Christmas period. It is not unusual in the court to hear the tunes from the street party going until the wee hours of the morning (with the broom becoming the centre piece, substituting as a microphone). I have also come home many a night to the neighbours congregating on a front lawn having a monthly catch up.
With the estate now almost completely full I have had some good sales in the area over my period of time in Real Estate ranging from $300k to $400k. There are also properties in the estate ranging from between $250,000 through to $600,000. The time and effort put into constructing some of the homes and surrounds have been phenomenal. As an investment new properties are always in demand for executive tenants or people in between building their home.
Our neighbours are more like family, they go above and beyond the call of just borrowing a cup of sugar.
“There is no place like home”.
Friday, July 3, 2009
AUCTION OR NOT – THAT IS THE QUESTION
In today’s market, the question on every home seller’s lips is how to get the best price for their property – to auction, or not to auction? Here is some helpful advice that might make this difficult decision a little easier.
Selling your home can be emotionally stressful, but being well informed about the process and alternatives helps instill a sense of control
What you should remember at all times is that property is a commodity, worth what a buyer is willing to pay for it.
Sometimes, it is better to go to auction to accurately determine market opinion, but in other cases it may be more appropriate to go through the private treaty sale process. Ideally, where there is likelihood that more than one buyer will be found in the marketing period, auction is the viable and preferable alternative. The area’s for this most likely to happen are the area’s in high demand. eg: Central Echuca, River Properties, or something that your property has that no one else’s does.
When there is a lot of housing stock available to choose from, then buyers have a broad range of choice as well as the power to keep prices down.
What an auction does is set a timeline by which interested parties must have completed their enquiries and arranged finance. It promoted decisiveness and allows the competitive nature of buyers to work in your interest. Also, it puts some surety into the process because a sale under the hammer on auction day is water-tight.
But with private treaty sales, there is a degree of risk. Two parties could make offers for a property, but if the chosen party’s finances fall through after you’ve accepted their offer, you either have to go back to the second party in a potentially weaker position than previously, or you have to start the process again.
With auctions, when the bidding reaches your reserve, the property is sold unconditionally.
First National has successfully been selling through the auction process. It’s a result that comes from a combination of having realistic, well informed vendors, effective, targetted promotion of the properties and an agent who understands the local area and auction process thoroughly.
Auctions are good where a vendor is realistic and willing to accept what the market is willing to offer on the given day.
But private treaty sales, in the right circumstances, can prove lucrative too, especially in today’s market at the top end.
This market has been moving more slowly in upper price ranges than the more affordable levels, so it may well be worth considering private sales in this situation.
Selling a home always carries some element of uncertainty – it is how you reduce, or mitigate, that uncertainty that is the key. Some may suggest doing that by private sale, others will swear by auctions. The best advice, though, is to get the best advice – talk to a real estate agent who knows the area and what is working well and what is not.
Selling your home can be emotionally stressful, but being well informed about the process and alternatives helps instill a sense of control
What you should remember at all times is that property is a commodity, worth what a buyer is willing to pay for it.
Sometimes, it is better to go to auction to accurately determine market opinion, but in other cases it may be more appropriate to go through the private treaty sale process. Ideally, where there is likelihood that more than one buyer will be found in the marketing period, auction is the viable and preferable alternative. The area’s for this most likely to happen are the area’s in high demand. eg: Central Echuca, River Properties, or something that your property has that no one else’s does.
When there is a lot of housing stock available to choose from, then buyers have a broad range of choice as well as the power to keep prices down.
What an auction does is set a timeline by which interested parties must have completed their enquiries and arranged finance. It promoted decisiveness and allows the competitive nature of buyers to work in your interest. Also, it puts some surety into the process because a sale under the hammer on auction day is water-tight.
But with private treaty sales, there is a degree of risk. Two parties could make offers for a property, but if the chosen party’s finances fall through after you’ve accepted their offer, you either have to go back to the second party in a potentially weaker position than previously, or you have to start the process again.
With auctions, when the bidding reaches your reserve, the property is sold unconditionally.
First National has successfully been selling through the auction process. It’s a result that comes from a combination of having realistic, well informed vendors, effective, targetted promotion of the properties and an agent who understands the local area and auction process thoroughly.
Auctions are good where a vendor is realistic and willing to accept what the market is willing to offer on the given day.
But private treaty sales, in the right circumstances, can prove lucrative too, especially in today’s market at the top end.
This market has been moving more slowly in upper price ranges than the more affordable levels, so it may well be worth considering private sales in this situation.
Selling a home always carries some element of uncertainty – it is how you reduce, or mitigate, that uncertainty that is the key. Some may suggest doing that by private sale, others will swear by auctions. The best advice, though, is to get the best advice – talk to a real estate agent who knows the area and what is working well and what is not.
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