“Has Anyone Been Murdered In This House?”

Posted on July 12, 2016 by | 0 Comments
It’s hard to get a good price for a home with a bad history. Overseas, they are called ‘Stigma Homes’, where something terrible has happened in the past, usually a murder. Stigma homes – or ‘Murder Homes’ as they seem to be called in Australia – can be hard to sell – as at least one irate home-owner in Melbourne is discovering. Every time likely buyers punch the address of Judy’s home into a search...

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SELLERS – BEWARE THE HOG AGENTS THE MYTH OF CHOOSING A “BIG AGENCY”

Posted on July 12, 2016 by | 4 Comments
“You can’t sell a secret.” This is a line given by thousands of agents to thousands of home-sellers in order to persuade sellers to splash out more and more money advertising their homes. The theory goes that the more places you advertise your home, the more buyers you reach. Of course, anyone who knows anything about basic marketing knows that such reasoning is nonsense because most buyers look in several places during their search for...

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The tax implications of subdividing your backyard

Posted on April 16, 2015 by | 2 Comments
Subdividing your PPOR (principal place of residence) is a strategy we often get asked about. If you’re thinking about going down this path, there’s a lot to consider before making your decision. By Pat Mannix and Rebecca Mackie There are many different strategies with different outcomes, depending on whether you’re planning to sell the part with the house, or the vacant land, or build and move in, build and rent out or build and sell...

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EXPOSED: How Banks Manipulate Property Values

Posted on April 1, 2015 by | 1 Comment
by Brian White I’ve been involved in the property industry for 25 years (as a mortgage broker, real estate agent and investor). In recent times,flawed valuations have become a significant source of complaint, with manyagents advising that valuers are routinely undervaluing property and causing contracts to fall over. Buyers also accuse builders and developers of overpricing property, resulting in low valuations and contracts being terminated. While these scenarios do occur,the hidden culprit is often the type of...

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Size Matters When It Comes To Defaulting On A Home Loan

Posted on December 12, 2014 by | 1 Comment
An article by Clancy Yeates Bad housing loans will increase one day, and bankers say that many of the loans that will go bad are probably being written now, when interest rates are so low. Australian borrowers are a fortunate bunch. Unlike households overseas, they’ve managed to avoid the wave of painful mortgage defaults that have brought other economies to their knees. Indeed, local banks say the share of people falling behind on their mortgage...

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When A Successful Auction Bidder Renegs On Signing

Posted on December 7, 2014 by | 0 Comments
by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate From time to time some consumer advocates suggest to successful auction bidders, who might have a sudden change of mind, that they should refuse to sign anything and walk away. This is dangerous advice because in most parts of Australia auctioneers may lawfully sign a sale contract on behalf of a reluctant buyer (and hesitant vendor). (See “Winning Auction Bidders Beware“). Even if no signed post-auction contract, a...

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Christmas Comes Early For Queensland Real Estate Agents

Posted on November 26, 2014 by | 4 Comments
An article by Tim O’Dwyer, Solicitor and Consumer Advocate On Monday 1st December POA, the Property Occupations Act 2014 (and POA Regulation 2014) come into effect in Queensland, and replace the much-amended-and-maligned Property Agents and Motor Dealers Act 2000 (PAMDA). While real estate consumers (in particular residential sellers and buyers) will find little to rejoice over and less protection of their interests than before (despite one of POA’s expressed objects being “the protection for consumers...

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Victorian election real estate dramas: Underquoting and “election stunts”

Posted on November 26, 2014 by | 0 Comments
An article by Jennifer Duke “In Victoria underquoting is endemic, rampant, it’s grubby, it’s misleading and deceptive and it’s a fraud on home buyers,” explained Rowe. “Consumer Affairs Victoria lacks the necessary laws and resources to police underquoting. Real estate agents enjoy the luxury of loop holes in the rules to bait home buyers into attending auctions which are outside their budget.  This frustrates buyers. Underquoting causes home buyers to waste their time, money and...

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Rental road to riches can be rocky

Posted on November 22, 2014 by | 0 Comments
An article by Mary Holm Even with skill and good luck there are many risks that can make or break would-be property investors. My partner and I have our own home at the moment with a sizeable mortgage, and we’re thinking of starting a property rental portfolio. We’ve been told that it works best to have a few properties, rather than just one or two. Would you be so kind as to give us your...

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Why New Homes Should Be Inspected For Defects

Posted on November 19, 2014 by | 0 Comments
If the house is brand new there should be no reason to have it inspected for defects, right? This article by Reuben Saltzman explains the reasons why a newly constructed home should be inspected by s qualified and independent building inspector. While the article was written for an American audience, it is just as applicable in Australia. One of the newest inspectors on our team is Patrick Brennan, who worked as a project manager for...

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