Currently we are surrounded by “doom & gloom” Television, Newspapers, Radio – the stories are all “sad and sorry”.

Realistically some of the world crises are affecting our lives and we need to pay attention. But, it really isn’t the end of the world.

So let’s take a quick sensible look at real estate:

Generally the market has slowed down, prices have gone down and turnover of properties has reduced. 

But look at the positive side:

Affordability is coming back into the market
 

There are starting to be some really good buys around
 

The drop in interest rate has a positive impact on your loan repayment
 

The new trend is good for both owner occupier and investor buyers (bearing in mind that investors had disappeared from the market)
 

Sellers are getting less for their properties BUT they are paying less when they buy again consequently as far as money in hand goes they have lost nothing.
 

Another great positive is that the young can once again aspire to own their own home
 

So when you look at the whole picture – with all its ups and downs real estate is still an all round POSITIVE commodity. 

It’s tangible

It gives you security,

You can add value to it,

It can be your “home” or

It can be your investment.

And, as a bonus, if you own real estate in Western Australia you should be walking around with a smile on your face because we are truly the “lucky state” even in difficult times.

Seriously we should look at the positives, take advantage of the opportunities and be happy with what we have.

Want further convincing?  Give me a call…

Purchasing a house is all about affordability and most of us are blown away when people spend $12 million-plus on a pad, but this is small change when it comes to a property in downtown Mumbai, which is estimated to cost close to $2 billion!

The home, if you can call it this, is a 27 storey pad, coming in at 180m high and boasting 400,000 square feet of interior living.  The first six floors are for parking the fleet of Kingswood station wagons and many other rare classics they own.

The only other comparable home is a triplex penthouse at the Pierre Hotel in New York currently on the market at a reasonable $70 million.

While this type of self indulgence is nothing short of ridiculous it does bring a new menaing to "top end of the market".

This story is totally irrelevant to our property market here in Albany except that it shows every property has a buyer no matter what the price, as long as the value is there.  If you are currently trying to sell your home for greater than market price you need to have a point of difference over your competition.  This difference needs to translate into value for money becuasue in todays market affordability is everything.

Just over a week ago I had the privilage to attend a seminar in Melbourne with some of the best Real Estate Agents in the country. Many came from various regional places and a number of topics was discussed. People often have said that the market is different on the eastern seaboard. Well, I am here to tell you different and that Albany is very similar to other areas around Australia.

The common point made during this week long seminar was not about the world economy, interest rates or how the property market is effected. It was that if a property is priced correctly then it will sell and that there are buyers out there. No matter what fancy advertising or gimics, the fact is well priced property sells. The age old fact that there is a buyer for every property rings true provided the listing price reflects the market value.

People that want high expectations for there property will see there property stay on the market for a long period of time then often wonder why properties similar to there’s sell quicker. It is purely price.

If your serious about selling and are motivated to move then nows the time to speak with one of my real estate experts. My company prides itself on training its staff to be knowledgable about the current market, pro active leaders and experts in the industry.

If that means mixing with the best real estate people in the country to help sell your property, then isn’t that more than your average agent is doing. If you want the best then contact any of my sales staff today on 98414022 or visit www.merrifield.com.au

After the past few months of global uncertainty the housing and general industry has become very interesting.  There are some forced sales but on a positive note there are some very keen vendors that are ready to sell.

Buyers should do their research or speak to their real estate agent for advice as to where the good market is, that is what price range is best to buy in for the best capital gains. 

The lower end of the market below $400,000 is very busy and now with the first home buyer's grants being doubled as with no stamp duty up to $500,000 markes it very attractive to buy that first home.

The banks have tightened up their lending criteria and you would now need a larger deposit as well.  Also the upper market is showing activity with homes still selling over 1 million up to $1,800,000.  I would suggest that any seller at this time should re look their asking price possibly sworn valuation as a guide and then ask your real estate agent for their opinion as to a firm selling price and leaving room to negotiate, as for buyers what an opportunity to get into the market and with so much variety it sounds hard work, but if you discuss your needs or requirements with your agent it narrows the field down and they can print off a short list for you to look at, generally you should keep it to no more thant 6 or 7 to look at each time.

So if you are lucky to be be cashed up or have sold your house or just moved to town contact our office for confidential discussion on the best buys available today or contact me Kevin Marshall on 0408 936 380. 

For farmers who are ready to sell, the property boom is almost all positive. There must be willing sellers as well as keen buyers for any market to develop and grow, And the desire  for a comfortable retirement is proving hard to resist now there’s a solid floor in the price of land, particularly in coastal areas and those close to major centres.

It’s often difficult to find someone interested in buying a property as a going concern and the value placed on a piece of land for its productivity can be far below what lifestyle farmers are prepare to pay for a nice rural view.

That makes it easy to keep the homestead and cut the rest of the property into lifestyle blocks.

Lifestyle farmers don’t need to rely on the productive ability of the land to finance their debt, as most have off- farms income and are simply making a decision to purchase rural rather than city property. They also have greater tax options that help to service that debt.

Looking ahead, I don’t think the type of growth we’ve seen over recent years can be sustained indefinitely, because every type of investment and commodity operates on a cycle of ups and downs. However, I suspect there will be more of a plateau, rather than any sort correction as the new developments such as the $1.5bn Southdown mine, the Waterfront and the New Esplanade Hotel come on line it should underpin the current values.