Dougmal Harcourts Oak Flats were centre stage at the recent Harcourts Quarterly Awards function, celebrating individual and office achievements for the October to December 2009 quarter.
OFFICE ADMINISTRATOR - Joyce Mantuano
BRONZE SALES ACHIEVEMENT - Jim Wells
SILVER SALES ACHIEVEMENT - Deb Cummins
GOLD PIN - Jim Wells
TOP 10 SALES CONSULTANTS - Deb Cummins
TOP SALES OFFICE (October) - Dougmal Harcourts Oak Flats
TOP OFFICE REVENUE (October) - Dougmal Harcourts Oak Flats
Friday, February 26, 2010
Monday, January 25, 2010
Where to for the Housing Market in 2010?
There are a number of factors to consider when trying to look into the crystal ball and predict what is going to happen to residential real estate in the Illawarra in the next 12 months.
The primary driver at the moment would appear to be a wide spread shortage of property for sale. Coupled with slow land releases and a lack of major unit development at the the moment, basic supply and demand economies would indicate upwards pressure on prices.
As far as demand is concerned, there seems to be no shortage of buyers for property at the right price. Investors are starting to come back into the market, taking up some of the slack left by the drop off of first home buyers after the extra subsidies ended on 31 December 2009.
Rises in prices will only be modest however as several negative factors will have an impact. Firstly the 3 interest rate rises of recent times and the probability of another 25 basis points on 2 February 2010 after the Reserve Bank Board meets, along with some job insecurity in the region.
Overall, however I think that the market will be reasonably positive with modest price growth throughout the coming year.
The primary driver at the moment would appear to be a wide spread shortage of property for sale. Coupled with slow land releases and a lack of major unit development at the the moment, basic supply and demand economies would indicate upwards pressure on prices.
As far as demand is concerned, there seems to be no shortage of buyers for property at the right price. Investors are starting to come back into the market, taking up some of the slack left by the drop off of first home buyers after the extra subsidies ended on 31 December 2009.
Rises in prices will only be modest however as several negative factors will have an impact. Firstly the 3 interest rate rises of recent times and the probability of another 25 basis points on 2 February 2010 after the Reserve Bank Board meets, along with some job insecurity in the region.
Overall, however I think that the market will be reasonably positive with modest price growth throughout the coming year.
Monday, December 14, 2009
Harcourts NSW Quarterly Awards
Harcourts NSW held their quarterly awards celebrations at Cockle Bay, Darling Harbour on 12 November 2009. This was a celebration of the real estate achievements of Harcourts and Dougmal Harcourts offices throughout NSW for the July to September 2009 quarter. Dougmal Harcourts Oak Flats was amongst the highest achievers of the night.
Bronze Sales Achievement - Dale Whittaker
Platinum Sales Achievement - Deb Cummins
Ruby Pin - Deb Cummins
Top Exclusive Lister (3rd place) - Deb Cummins
Top Sales Consultant - Number of Sales (1st place) - Deb Cummins
Property Management Excellence (2nd place) - Dougmal Harcourts Oak Flats
Property Managers of the Quarter - Linda Easterman & Sharon Puckeridge
Top Sales Office (1st place) - Dougmal Harcourts Oak Flats
Top Office - Revenue (3rd place) - Dougmal Harcourts Oak Flats
Top 10 Sales Consultants (2nd place) - Deb Cummins
Bronze Sales Achievement - Dale Whittaker
Platinum Sales Achievement - Deb Cummins
Ruby Pin - Deb Cummins
Top Exclusive Lister (3rd place) - Deb Cummins
Top Sales Consultant - Number of Sales (1st place) - Deb Cummins
Property Management Excellence (2nd place) - Dougmal Harcourts Oak Flats
Property Managers of the Quarter - Linda Easterman & Sharon Puckeridge
Top Sales Office (1st place) - Dougmal Harcourts Oak Flats
Top Office - Revenue (3rd place) - Dougmal Harcourts Oak Flats
Top 10 Sales Consultants (2nd place) - Deb Cummins
Monday, October 19, 2009
How and When To Improve Your Investment Portfolio
This is something we are often asked by our current landlords/ investors and is I believe something we all should be thinking about regularly. After all, the whole point of investing is to make the best return possible over time.
We have noticed a growing trend in recent times which we think you should be aware of and possibly consider taking advantage of. There has been for many years a predominance of 2 & 3 bedroom properties with limited parking or just a single car garage for lease and very few 4 bedroom double garage properties. This has always made these 4 bedroom properties highly sought after.
This was largely due to the older established nature of the housing in the area. With the construction of new housing, particularly in the Flinders, Shell Cove area, but also in Albion Park, we have seen an opportunity for increased returns for our clients.
The main advantages, as we see it, of the “Trading Up” to a new or near new 4 bedroom double garage home are these:
Firstly there is the increased rent and reduced vacancy factor. Typically a 4 bedroom double garage home with a purchase price of $380,000- $420,000 will rent between $430- $450 per week.
Secondly the type of tenant attracted to these homes tends to be more stable and hence turnover in tenants tends to be less and vacancy between tenancies also tends to be less.
Thirdly the maintenance on these properties because of their age is significantly less and often covered under builders warranty at no cost to you.
There is also the benefit of a depreciation allowance of 2.5% that you more than likely do not get on your current property because of its age. This factor alone could be worth in the order of $3500-$4000 per annum as a deduction on the property. Depending on your current tax rate this could mean a significant extra amount back to you each year.
With many of our landlords/ investors having owned their properties for many years, probably in many cases having nearly paid them off, this may well be a good time to at least consider the possibility.
I am certainly happy to go into more detail on your personal circumstances at any time and would also recommend that you talk to your accountant / financial advisor before making any decisions. But with interest states still at low levels and prices remaining under control there has not been a better time in the last several years to make a move and improve your property portfolio.
We have noticed a growing trend in recent times which we think you should be aware of and possibly consider taking advantage of. There has been for many years a predominance of 2 & 3 bedroom properties with limited parking or just a single car garage for lease and very few 4 bedroom double garage properties. This has always made these 4 bedroom properties highly sought after.
This was largely due to the older established nature of the housing in the area. With the construction of new housing, particularly in the Flinders, Shell Cove area, but also in Albion Park, we have seen an opportunity for increased returns for our clients.
The main advantages, as we see it, of the “Trading Up” to a new or near new 4 bedroom double garage home are these:
Firstly there is the increased rent and reduced vacancy factor. Typically a 4 bedroom double garage home with a purchase price of $380,000- $420,000 will rent between $430- $450 per week.
Secondly the type of tenant attracted to these homes tends to be more stable and hence turnover in tenants tends to be less and vacancy between tenancies also tends to be less.
Thirdly the maintenance on these properties because of their age is significantly less and often covered under builders warranty at no cost to you.
There is also the benefit of a depreciation allowance of 2.5% that you more than likely do not get on your current property because of its age. This factor alone could be worth in the order of $3500-$4000 per annum as a deduction on the property. Depending on your current tax rate this could mean a significant extra amount back to you each year.
With many of our landlords/ investors having owned their properties for many years, probably in many cases having nearly paid them off, this may well be a good time to at least consider the possibility.
I am certainly happy to go into more detail on your personal circumstances at any time and would also recommend that you talk to your accountant / financial advisor before making any decisions. But with interest states still at low levels and prices remaining under control there has not been a better time in the last several years to make a move and improve your property portfolio.
Tuesday, September 22, 2009
First Home Buyers Grant Reduces
At the end of this month the first home buyers grant reduces from $14,000 when purchasing an existing home to $10,500. This should not be seen as a reason for first home buyers to panic. When looked at in the cold light of day it should have little or no effect on your decision to enter the housing market. The reduction of $3,500 compared to the start of the year when buyers were often in bidding wars and / or races for contracts it may actually be a better time to buy now than it has been over the last 6 months. You will not have quite the same pressure to make a snap decision about your biggest purchase ever, and your bargaining position may be better if there are not as many other purchasers out there.
I do believe that the next 3 months is a good time to secure your first home as there may well be a lift in prices before too long. This will mainly be due to a supply and demand imbalance. The new home starts in the Illawarra continue to be at record lows which will bring further pressure on existing houses. Basic economics states that if more people want to buy a commodity than there are of those commodities on the market, prices will rise. We are already seeing a drop in the number of existing homes on the market compared to the normal influx of spring activity so this points to price rises in the future.
The prospect of interest rates rising again will make some people nervous however the commentators seem divided as to when & how much they will rise. It is inevitable that they will rise of course, they are at historic lows, but it is my belief that the rises will be very cautiously implemented by the Reserve Bank as they are unsure about the global outlook and will definitely not want to be blamed for stalling the Australian economies recovery.
I do believe that the next 3 months is a good time to secure your first home as there may well be a lift in prices before too long. This will mainly be due to a supply and demand imbalance. The new home starts in the Illawarra continue to be at record lows which will bring further pressure on existing houses. Basic economics states that if more people want to buy a commodity than there are of those commodities on the market, prices will rise. We are already seeing a drop in the number of existing homes on the market compared to the normal influx of spring activity so this points to price rises in the future.
The prospect of interest rates rising again will make some people nervous however the commentators seem divided as to when & how much they will rise. It is inevitable that they will rise of course, they are at historic lows, but it is my belief that the rises will be very cautiously implemented by the Reserve Bank as they are unsure about the global outlook and will definitely not want to be blamed for stalling the Australian economies recovery.
Thursday, September 10, 2009
Explanation of a Current Market Appraisal
A Comparative Market Analysis will help an Agent decide the fair market value of a home in the current market.
This comparison is called a comparative market analysis (CMA). It uses the most current and reliable market information from various sources including their Office listings and from EAC Red Square and realestateworld.com.au. The properties included in this analysis are a sampling of properties in the area that are currently for sale or that have recently sold. They provide a base line from which to begin the comparison. Other factors considered in this comparison are the property features, land size, location, amenities and the physical condition of the property.
At times, the term "fair market value" causes confusion. The definition has three basic parts – particular house – current condition – time frame (usually 30 to 90 days). Put simply, fair market value is the price at which a home will sell within a reasonable amount of time. The CMA will allow the agent to figure out, using the above information, the fair market value for the home. Remember this is just an estimation and the price could vary up or down depending on the motivation of the buyer, seller and any fluctuations in the market.
Once the price is decided on and it has been tested it in the marketplace, changing market conditions over time may require adjustments to the price to remain competitive.
For more information, please contact our office at Dougmal Harcourts Oak Flats - 02 4256 6666.
This comparison is called a comparative market analysis (CMA). It uses the most current and reliable market information from various sources including their Office listings and from EAC Red Square and realestateworld.com.au. The properties included in this analysis are a sampling of properties in the area that are currently for sale or that have recently sold. They provide a base line from which to begin the comparison. Other factors considered in this comparison are the property features, land size, location, amenities and the physical condition of the property.
At times, the term "fair market value" causes confusion. The definition has three basic parts – particular house – current condition – time frame (usually 30 to 90 days). Put simply, fair market value is the price at which a home will sell within a reasonable amount of time. The CMA will allow the agent to figure out, using the above information, the fair market value for the home. Remember this is just an estimation and the price could vary up or down depending on the motivation of the buyer, seller and any fluctuations in the market.
Once the price is decided on and it has been tested it in the marketplace, changing market conditions over time may require adjustments to the price to remain competitive.
For more information, please contact our office at Dougmal Harcourts Oak Flats - 02 4256 6666.
Wednesday, September 9, 2009
Welcome to our Blog
From time to time we will post information in relation to Dougmal Harcourts Oak Flats, properties that we have for sale and lease, market statistics and items of interest to real estate consumers in general.
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