Carlene Franzen
Licensed Agent/Auctioneer
Top
of page 2008
NOVEMBER 08
Should
we or shouldn’t we? 10/11/08
So what does the Reserve Banks latest rate cut of ¾% mean to our market? Buyers have been holding off waiting to see how far the interest rates will drop. Now some are thinking the market has bottomed out and that the interest rates are low enough to purchase a property. Two homes that I am aware of which have been on the market for 18 months and 2 years respectively have come under offer in this past week. As an experienced agent who has been through tough market conditions before I watch old stock that sells with interest because it can mean that the market has bottomed and is on the turn. If you are a buyer in a position to purchase don’t leave it too late. As I have mentioned before when the market turns it can turn quickly and you may miss out.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
It’s
that time of year again!
Christmas is fast approaching. Those who manage
holiday properties are predicting a bigger than ever influx this year. It
is cheaper to holiday within
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
OCTOBER 08
You
can bank on property
According to Paul Clitheroe’s making money article in Sunday’s Telegraph many people disillusioned with the share market may be thinking about bricks and mortar. The past few years have shown that property is not immune to falling values, but the medium-term growth potential of a well-located and well-priced property remains solid. Paul says that two successive rate cuts have made property more affordable but, in a buyer’s market, it’s worth shopping around for the right property. Location, location, location is what it is all about. Get this right and real estate will take care of you with capital growth. Also with NSW vacancy rates low and advertised rents increasing it is the best time to own an investment property for the rental return. As Paul Clitheroe says “You can bank on property”.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Boost
for First Home Buyers and the Real Estate Industry 16/10/08
Also the First Home Saver Account is another boost. These accounts, which attract a government contribution equivalent of 17% on the first $5000 of individual contributions, will help home affordability which has declined in recent years for young people. It’s part of the Australian dream to own your own home.
Real Estate agents nationally are optimistic with these moves and can see renewed confidence in the property market.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Second
Rate Cut Good News for Property Market 08/10/08
For
the first time in almost two decades, the Reserve Bank of
The
decision to drop the rate is likely to encourage more buyers into the
market, a positive sign that there is still money to be made. The outlook
for the Australian property market is not as bad as perhaps some
forecasters were predicting, and the optimism of many consumers is shared
by Real Estate Agents nationally.
As
we move into what is traditionally the busiest period for real estate, the
spring selling season, we are seeing a positive shift in the market.
Despite the interest rate rises we were experiencing until recently, over
the last 10 years the national median housing value increased. This shows
that we aren’t headed for a collapse in property values, and this latest
interest rate cut will help confirm that.
With
major banks passing on partial savings to the Australian population, the
monthly savings on mortgage repayments will bring welcome relief for many.
Those with mortgages will be looking forward to substantial savings and
the rate cut also means renewed opportunities for first homebuyers, both
of which will provide an added boost to the real estate industry and the
future of the Australian property market.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Many sellers will groan at the word Open for
Inspection especially after they have been doing them for some time.
So why do we do them week after week. The reason is easy – they
work and especially in a slower market. Every thing that can be done to
promote your home and make it easier for prospective buyers to inspect
should be considered. An open house combined with internet, paper, radio
advertising and good signage gives it all round market exposure. It is
interesting to note that 80% of prospective buyers who inspect our
properties by way of open for inspections have already viewed the property
on the internet however some prefer to come to an open for inspection
rather than make an appointment. I suggest that anything that increases
your chance of selling do.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
SEPTEMBER 08
Are
You Buying the Right House? 19/09/08
It can be confusing and hard to make a decision when you have seen dozens of homes. To clear up this confusion consider how each property relates to these factors:
Price – Compare the price to prices that you know properties similar have recently sold for. Your agent will have these records for you.
Location – Check out the neighbourhood. Buying the wrong home in the right location is generally a lesser mistake than buying the right home in the wrong location.
Features – That pool may look all sparkly and inviting but do you really want one. Remember you have to look after it. Costly features are often lovely to visit but too much work to own.
Vibes – Can you see yourself owning the property? Does your gut feeling say yes?
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Misrepresentation
Guidelines
The NSW Office of Fair Trading issued Misrepresentation Guidelines on 5th September. It is a must for licensed or certificate holders of real estate to understand these guidelines. Agents should discuss with sellers any market sensitive matters that are likely to be the subject of statements or representations by the agent in the course of marketing the property. During this process, it is important for the agent to gather information on aspects of the property which are sensitive to the market which will assist him/her in accurately and honestly representing the property. Having gathered the relevant information necessary to market and promote a property, the agent must then ensure that this information is provided to potential purchasers. Any one who is buying or selling can go to the NSW Office of Fair Trading website for the full details.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
AUGUST
08
There are many
ways that an architect can actually save you money and add value to your
renovation.
Your home is
your castle. It is an emotional investment and you have grand plans for
it. But, thankfully, an architect works with more practical elements:
bricks, mortar, resale value and your budget. While you are poring
over paint chips, your architect is mentally checking the site conditions,
the aspect (where the sun rises and sets) and potential views. Their
expertise should ensure your new home is light, comfortable and requires
minimal heating and cooling.
So how do you find the right one? Interview as many as you can bear.
Make sure they are a member of the Royal Australian Institute of
Architects (RAIA) or if there is a renovated house that you really love?
Knock on the door and ask for their architect's contact details.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
It is often a mistake to list your home with the agent who suggests the highest price. While it is true that you can always “come down”, you need to consider that most prospective buyers will have done their homework and will be aware of what the market value of your property is. They are always interested in new listings. This means that the first few weeks your home is on the market will bring more inspections than at any other time. If your home is correctly priced it will make them feel as if they need to snap it up before someone else does. If the price is too high, they feel no sense of urgency. Just as sellers take the attitude “we can always come down”, buyers think they can always wait until the price drops.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
What is the market doing 14/08/08
The
effects of the economy on the real estate market have created a lot of
gloom and doom. However, along with some of my colleagues I think the
Australian real estate market has bottomed out. Prices can really only go
one way from the bottom, and that is up. It is now a question of when?
This depends on when home buyers and investors have the confidence to
return to the market. Lately, economists are saying that the cycle of
interest rate increases is over and that the Reserve Bank is poised to cut
them. If you are thinking of buying, don’t leave it too long, because
once interest rates go down confidence returns and the demand for property
increases. The prices will then begin to go up again.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Google has just released its latest mapping product,
Street View to
To use
Street View, all you need to do is have access to the internet and go to http://maps.google.com.au
and type in any address. Once you have found the spot you are looking for
just click on ‘Street View’.
This free service from google is a huge benefit for home buyers. It allows them to research an area in detail, see what the surrounding houses look like and even see how close their target property is to shops, schools, beaches, parks and more.
Until
next time…………….God Bless
Tom Franzen
Property Consultant
Top
of page
JULY 08
When you see a property as a ‘new listing’ on the internet check directly with the agent how long in fact it’s been up for sale. If a property has languished on the market putting it up as a fresh listing represents a last ditch effort to trap an uninformed buyer. Best practise agents do things like re do advertising, take new photos, and target different groups of buyers to get the property sold.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Conveyancing is much more than just filling out some forms. Problems can inevitably arise in property transactions, but a conveyancer or solicitor is well equipped to identify and deal with them. They have the training and skills to ensure that your interests are protected at all times. They can recommend variations in your contract to meet your specific needs. They conduct searches to ensure you get what you are paying for. They know how to check the true boundaries and look at any encroachments or easements on your land. They can obligate the other party to fulfil their side of the contract. They can advise you on other aspects of the transaction: such as whether you need to change your will, the consequences of a relationship breakdown, and the tax implications of the transaction.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
At Century 21 Franzen we take Open for Inspections very seriously. It’s not just a matter of putting up the Open for Inspection sign and allowing people to tramp through yourhome. We always have two agents at our Open for Inspections. One Agent greets potential buyers and ensures they sign the privacy policy which explains the terms and conditions of the Open for Inspection. This agent records their contact information and gets permission to get in touch with them as part of our follow-up. The other agent shows people through the home, explains its features, and is available to answer any questions and to enter into negotiations, if an offer is made. Having two agents at Open For Inspections reflects our total commitment to our sellers and ensures all potential buyers get the attention and information they need
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Winter’s
a good time to sell or buy 14/07/08
Many home sellers hate putting their home on the market in winter. They prefer to wait until gorgeous spring time when the flowers are out, the trees are in blossom and the sun is shining. Winter sellers are serious - they're selling because they've already bought somewhere else, they've moved interstate or had some other life change. For whatever reason, they need to sell now and there’s a good chance they are prepared to take an offer. So if you are a buyer brave the cold wet winter days and find yourself a value for money bargain. If you are a seller winter is also a great time to sell. In winter there are less new properties on the market and those buyers who are looking are genuine.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
If you are planning to buy a unit
or town house you will need to understand how a Body Corporate works.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
JUNE 08
At
Century 21 we have the most up to date contact data base system in the
real estate industry. Many of our new properties are sold to buyers who
have requested they be alerted when a new property that suits their needs
comes on the market. Sellers can also be advised as to what has sold, and
for how much. It also alerts them to what their competition is. This means
they are well informed when it comes time for them to sell their property.
It is important buyers and sellers give specific details of what
information they want to receive. They are in control and if they wish to
stop receiving information they can unsubscribe at anytime. In today’s
changing real estate market those who have the knowledge can make informed
decisions and will benefit.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
What price for a sea view? 16/06/08
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Sure, there are fewer buyers at the moment and the skies are gloomy so here are a few tips to help your home feel like a warm haven before a buyer arrives. Whatever heating you have, put it on. Make sure your windows are clean and have the curtains and blinds open as wide as possible. If it is a dark day, turn on the lights. To create a little atmosphere, tune the radio to the local classical station and have it softly playing in the background. Choose one nice aroma. Freshly baked bread or a scented candle. Get rid of any bad odours smells such as pet smells, smoke or mustiness. The buyer will be looking for a warm, cozy home, so this is your chance to make yours the one they will choose. Until next week…… God Bless.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Top
of page
Buying
an Investment Property 2/06/08
Preparation is paramount when it
comes to buying your first investment property. You need to put your
emotions to one side and focus on the large amount of homework needed to
make sure you capitalise as much as possible on your purchase.
There are certain aspects to
bear in mind when looking at future investment properties. First, the
potential for capital gain and the likely return on your investment; and
second, whether the property will appeal to potential tenants. Tenants
tend to prefer properties in desirable neighbourhoods, close to good
public transport, shops and other facilities.
If there are money constraints, the difference between buying a house and a unit is usually significant. However, a unit is often a better option than a house as an investment, because less maintenance is required. The down side to this is that units generally achieve less capital growth than houses.
Until
next time…………….God Bless
Melissa Franzen
Top
of page
MAY 08
You have accepted an offer for your property. Your agent says congratulations. But hang on – don’t get too excited just yet. There are three stages to your property being sold: 1. “Under Offer”. This is just the beginning. Anything in this early stage may cause your buyer to simply just change their mind. 2. “Under Contract”. Usually both you and the buyer will have signed the contract and the deposit is paid. The contracts may have even exchanged but with certain conditions. If these certain conditions aren’t met the buyer can still change their mind. 3. “Unconditional Exchange”. Once notification of unconditional exchange has been received from your solicitor you can break out the champagne and tell everyone. Prudent, careful agents will not put up the “Sold Sign” until you have an unconditional exchange of contracts.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Avoiding surprise costs 19/05/2008
When buying your new home, there can be
many costs to consider on top of the purchase price. Familiarise yourself
with all your likely outgoings upfront to avoid any nasty surprises. As
well as paying your deposit and bank charges if you are taking out a home,
you will need to meet extra costs such as stamp duty, building insurance,
and your solicitor’s and removalist’s fees. Once you have moved into
the property the ongoing owners' costs include council and water rates and
strata levies (for apartments).
Getting professional building and pest inspections before you buy a property is highly advisable and could save you money later on. These inspections help identify any building or environmental defects such as movement of walls, safety hazards, existence of termites or a faulty roof. Finding out early about any faults in the property means you can factor in what it might cost to deal with them.
Until
next time…………….God Bless
Melissa Franzen
Top
of page
The
Upside of a downturn 12/05/2008
When the market is hot, chances are often low for
experienced salespeople to demonstrate their skill. Buyers are lured by
low interest rates and because the market is tight, homes sell quickly and
sellers are usually happy with the price they get.
As prices level off and the number of available
properties rise the story changes – buyers have a greater selection of
homes to choose from, and are more hesitant about making a move.
In this type of market it is your choice of Agent that will make all the difference, an experience agent that can market your property, that has a proven contact management plan and who has demonstrated results will determine if, and for how much, your property will sell for. It is this initial decision that will affect the next move in your life.
Until
next time…………….God Bless
Melissa Franzen
Top
of page
Proposed
Changes to Property Management Laws 05/05/2008
If you would like more information on this or any property matters please feel free to contact us at Century 21 Franzen.
Until
next time…………….God Bless
Melissa Franzen
Top
of page
APRIL 08
Property
Management Maths 28/04/2008
One of the most frequent questions
asked by landlords, is “when is it time to increase the rent on my
investment home?” Obviously our first question as agents is “What does
the market say about the level of rent tenants are prepared to pay?” If
the property is currently rented for, say, $260 per week and the current
market rent is $270 per week, then the answer to a landlord would seem to
be “Yes”. However before increasing the rent do the maths. An increase
of $10 per week equals an extra $520 per year. But if the tenant decides
not to pay the increase, moves out, and your property is vacant for 2
weeks, you will have lost $520 in rent, plus the costs of finding a new
tenant. If the property is vacant for 3 or more weeks, you will be
significantly worse off. By all means increase the rent, but also be aware
of the value of a quality tenant that looks after your property and
regularly pays their rent.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
A deposit bond is a guarantee that
acts as an interim substitute for a cash deposit meaning the payment of
the deposit, which is normally 10% of the purchase price, can be made at
the time of settlement rather than immediately upon exchange of contracts.
Acceptance of a deposit bond guarantee in lieu of a cash deposit is at the
sole discretion of the seller. Should the buyer default on the purchase
the seller can claim the amount guaranteed from the deposit bond supplier
who is normally irrevocably and unconditionally authorised to pay the
seller. A deposit bond is
usually issued by a financial institution at a premium of around 1% of the
purchase price. They are used by buyers who have their cash tied up in
their homes or investments. God
Bless from Carlene Franzen and the team at Century 21 Franzen.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Stress
Free Renting 14/04/2008
In recent weeks housing affordability and the scarcity of rental accommodation have been two big issues attracting media coverage. This is true in our own area where we have many people eager to rent and there are not enough properties to go around. If you have stopped using your holiday house regularly or you have an empty investment property why not think about putting tenants in and getting some extra income. Property Management at Century 21 has a system that ensures people’s references are thoroughly checked. We conduct frequent inspections of your property to ensure necessary maintenance is kept up to date. Our feedback system means we keep you well informed about any relevant issues affecting your property. In a nutshell, we do our best to make sure you have the best possible tenants and that renting your property is stress free for you.
Until
next time…………….God Bless
Carlene Franzen
Licensed Agent/Auctioneer
Selling
a tenanted property 7/04/2008
If you have an investment property
with tenants, you can still sell it. However, you have some obligations to
your tenants. They must have written notice that the property is on the
market before they have to allow ‘reasonable’ access. Access on
Sundays, public holidays, before
Carlene Franzen
Licensed Agent/Auctioneer
MARCH 08
When
you sign a form to sell your house, the highest form of agreement is
called an exclusive agreement, which is with one real estate agent only.
The lowest form is called an open agency agreement and involves more than
one agent. You might be tempted to use several agents because you think it
creates more competition. The opposite is true. You end up not getting the
necessary commitment from any of them. Too often they will not spend the
time and money needed to get the best possible price for a property, and
the chances of selling diminishes as the number of agents competing for
your commission increases. On the other hand, an exclusive listing means
one committed agent will put out all stops to market and sell your home.
Carlene Franzen
Licensed Agent/Auctioneer
Buying or selling a property is not just about making or accepting an offer. Once you reach this stage you have more work to do, mostly with the help of solicitors, but also your agent has a role. A competent agent will “hold your hand” and guide you through the process. Some of the things they may assist you with include organizing pest and building inspections, keeping two way communication going between the parties, advising you about timing, settlement dates, tips for moving and so on. Agents should be prepared to answer any questions you may have or refer you to the appropriate person for the right advice. With solid support from your agent it is likely the transaction will go much more smoothly. Happy Easter from everyone at Century 21 Franzen and God Bless.
Carlene Franzen
Licensed Agent/Auctioneer
Entering
the Rental Market
When looking at an application for rental two things you look at is if the prospective tenant can pay the rent and if they will look after the property. With most tenants this is relatively easy to establish, references from other property managers will quickly indicate if the tenant paid their rent and how they kept the property. With prospective tenants who have not rented before, because they are looking to move out of home or have not been listed on a lease, these factors may be harder to establish. A proof of income statement will ascertain if the Prospective tenant has the income to support the rent and proof of regularly paid commitments like personal loans or mobile phone bills and Personal references from employers will also support a prospective tenant’s application. Remember we all had to start somewhere.
Carlene Franzen
Licensed Agent/Auctioneer
Interest rate rises are really
starting to hit many mum- and -dad investors and first home buyers. With
some economists saying the Reserve Bank may decide on another increase,
the question on everyone’s lips is how will this affect the housing
market? We are likely to see an investment slow-down in the low to
middle housing range, as nervousness about rate rises kicks in.
My experience is properties at the top end of the market will be less affected, as those buyers tend to be cashed up and ready to go. While some of these top-end buyers can take a couple of years to find the “right” house, when they find what they want there is no stopping them. My advice to this group of purchasers is when you find your dream home do not delay in making an offer.
Carlene Franzen
Licensed Agent/Auctioneer
What
is Express
Carlene Franzen
Licensed Agent/Auctioneer
FEBRUARY 08
Our real estate
market changes from week to week. On one hand we are seeing interest rates
rising which is upsetting for most people who have a mortgage. However on
the other hand we are hearing how the
Carlene Franzen
Licensed Agent/Auctioneer
If you are selling your residential property you will need a Contract of Sale before advertising can be commenced. This contract is usually prepared for you by your Conveyancer or Solicitor and takes 1 – 2 weeks to prepare. The contract that is used is the “Contract for the sale of land – 2005” This contract has been produced by the Law Society of NSW and The Real Estate Institute of New South Wales. Your agent will request a copy of your contract from your Conveyancer or Solicitor prior to marketing and by law it must be available for inspection at your agent’s office. Your agent is breaking the law if they offer your property for sale without having a contract in their possession.
Carlene Franzen
Licensed Agent/Auctioneer
Choose an agent who is a local – one that lives and works in your area and one who knows your area as well if not better than you. When inviting an agent into your home, ensure you note things like their enthusiasm towards selling your home. They must have a clear plan as to how they will market your property and knowledge on current regulations and procedures. Ask this agent how often they will report back to you – it is vital to be kept informed. The negotiation skills of an agent should be demonstrated during the listing presentation. A strong negotiator is the key to reaching the price you want for your property. You need to be able to work with your chosen real estate agent closely to enjoy a smooth sale process.
Carlene Franzen
Licensed Agent/Auctioneer
Subdivision
- Is It Worth It?
If you are considering subdividing your block, it is important to remember that it is not as easy as simply putting a fence up. You must do your homework and have an understanding and appreciation for what you are about to get into. As with everything there are negatives to all positives, whilst you make a profit form the subdivision you need to consider the resale value of your property. If your home is small a smaller back yard may be OK, however many home owners also want a nice large yard for their family. There is also the possibility of starting disagreements with your neighbours and you will lose the open space your home possesses. If you are thinking of subdividing your property, contact your local Century 21 agent and ask their advice on your local market. As ultimately, this will affect your decision.
Carlene Franzen
Licensed Agent/Auctioneer
JANUARY 08
Holiday
Season Ends –
What Now?
Over Christmas and the New Year visitors get carried away and dream of living at the coast full time. Heaps of people make enquiries about the cost of real estate and the state of the local economy. Yet their holidays end and most return to their normal lives and reality prevails. However, some decide they really want to make their dream come true and make a sea change. It is these people that become eager prospective buyers after the holiday rush is over. Traditionally from late January onwards we see a new group of serious purchasers with finance ready to snap up available properties. If you are thinking of selling this is a good time to put your house on the market.
Carlene Franzen
Licensed Agent/Auctioneer
What
a great time of the year. The whole area hustles and bustles with so many
more people. The sun shines and the water is warm.
Carlene Franzen
Licensed Agent/Auctioneer
With summer comes the inevitable
rush of holiday makers migrating to the coast, most of these people will
stay in short term holiday accommodation. The high turn over of guests
combined with the short time between them checking in and out can lead to
problems if you don’t have plans in place.
A regular maintenance plan
including inspections before and after guests, well trained cleaning and
maintenance contractors – as well as verbalised reporting procedures for
any issues picked up by the contractors will help ensure a smooth holiday
season.
Other issues to be aware of include Break and enter and vandalism. Nothing is a bigger target than a home that looks vacant, by keeping your lawns mowed and free from rubbish you may just deter this type of behaviour.
Carlene Franzen
Licensed Agent/Auctioneer
If you have any questions regarding Real Estate you would like answered contact us at franzen@century21.com.au or phone (02) 4471 2283.
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