Author Archives for Peter Mericka

About Peter Mericka

Peter Mericka B.A., LL.B is a Melbourne based property lawyer and real estate consumer advocate, whose law firm Lawyers Conveyancing has been leading the real estate and conveyancing industry in online conveyancing services for the past two decades.

Is it time to consider commercial real estate?

May 25, 2018 5:48 am Published by Leave your thoughts The author identifies areas that may be of interest to those considering investing in commercial real estate. According to the most recent data released by Colliers in their Metro Office First Half 2018 report, investment returns in metro office markets are at their greatest levels in over ten years, and annual effective rental growth in North Sydney, St Leonards and Chatswood in Sydney, as well as St Kilda Road and the Melbourne City Fringe has...


The Royal Commission – An Alternative View

May 25, 2018 5:48 am Published by Leave your thoughts Here’s an interesting rejoinder to what the author describes a the “hysteria surrounding the Royal Commission”. We’ve all heard the admissions of misconduct from major institutions at the Royal Commission, with their statements a sad reflection on the conduct and governance of the banks. Whilst these revelations have given the media their headlines, the reality is that the vast majority of lenders act with their customer’s best interests at the forefront of their thinking. http://www.switzer.com.au/the-experts/adrian-sheahan/the-royal-commission-a-loan-writers-perspective20181505/ Peter...


Move or Improve? Do the Sums First!

May 25, 2018 5:48 am Published by Leave your thoughts There are plenty of reasons why people sell up and move, but with cheap money available it can make more sense to renovate the family home, as explained by Greville Pabst: The logic is, if you are purchasing a home for $1million, the buyer has to add a further $100,000 for stamp duty, legal costs, agents commission and other charges, if they have to sell an existing property and so on. For that amount of...


Pity the Poor Real Estate Agents? Not Many Will!

May 25, 2018 5:46 am Published by Leave your thoughts Commission is an inherently unfair method of remuneration, completely unrelated to the time, effort and skills associated with real estate sales. This is why carefully worded contract is needed to create an “entitlement” to the windfall that is commission. It will be interesting to see how this debacle plays out, and whether it will change the way salespersons in this industry are paid for what they do.   Melbourne firm SLF Lawyers, which has issued...


Is traffic congestion an issue for home buyers?

May 16, 2018 10:06 am Published by Leave your thoughts Is traffic congestion likely to be a factor in your home-buying decision? A home that is within walking distance of public transport may be worth more than you realise. History tells us that anything done to reduce travel times between where we live and work has fundamentally changed the value of homes in affected areas. http://www.switzer.com.au/the-experts/john-mcgrath-property-expert/budget-targets-traffic-congestion-to-improve-city-living20181504/?utm_medium=newsletter&utm_source=switzer-daily Peter Mericka B.A., LL.B – Australian Legal Practitioner, Consumer Advocate and Principal of Lawyers Real Estate Pty Ltd and...


Will the RBA raise rates later this year?

April 18, 2018 10:17 am Published by Leave your thoughts Could the Reserve Bank be planning an interest rate hike later this year, perhaps on the day that traditionally stops everyone across the nation except those on the RBA Board – Melbourne Cup Day? by David Bassanese Maybe, just maybe. Indeed, just when every economist around the country was prepared to write-off yesterday’s release of the RBA’s minutes from its recent policy meeting as nothing new, the Bank saw fit to drop an added line...


Are financial planners and mortgage brokers that bad?

April 17, 2018 11:04 am Published by Leave your thoughts The test of the value of this Royal Commission is going to be what authorities do to change what happens in the finance industry. What is being revealed is not new knowledge — it’s just being made more public. by Peter Switzer Anyone like me who works in finance knew that financial planning had its problems. But I still doubt ASIC’s Deputy Chair, Peter Kell’s submission that nine out of 10 advisers are not considering...


Foreign investors fined $2.7m under new regime targeting property buyers

April 10, 2017 9:11 am Published by Leave your thoughts A new penalty regime targeting foreign investors has seen 500 overseas property buyers issued with penalty notices and told to pay the Australian Taxation Office $2.7m in fines. The majority of breaches occurred in Victoria, New South Wales, Queensland and Western Australia. In December 2015 the federal government introduced a range of new penalties for foreign investors, including new civil penalties supporting divestment orders, fines for third parties who knowingly assisted foreign investors to break...


Real estate industry responds to Airbnb’s plot to shake up rentals

April 4, 2017 4:59 pm Published by Leave your thoughts THE real estate industry is bracing for the next move of a familiar disrupter, threatening to give the highly regulated field an unwelcome shake-up. Leasing agents and those who manage rental properties are sharpening their sales pitches to owners and tenants alike as they prepare for Airbnb to disrupt the long-term rental market. [More] [See also ‘Significant legal issues’ posed by rental platforms]

ASIC joins APRA in interest-only home loan crackdown

April 4, 2017 3:29 pm Published by Leave your thoughts The corporate watchdog has joined the banking regulator in cracking down on interest-only home loans, announcing targeted surveillance of lenders and mortgage brokers inappropriately spruiking the loans. The Australian Securities and Investments Commission (ASIC) also said eight lenders, including Commonwealth Bank, National Australia Bank and ANZ, will be forced to provide remediation, including possible refunds, to consumers who suffered financial difficulty as a result of shortcomings in past lending practices. [More]