NEW HOMES TO DRIVE PROPERTY MARKET

Tweet

A solution to Australia’s sluggish start to the property market for 2012 may rest with the New Homes Building sector says First National Real Estate JM Chase, especially if associated regulatory and government taxes were reduced.

“New home building is a key barometer for the health of the domestic economy and can often drive first home buyer activity,” Jee Chin, principal, First National Real Estate JM Chase said.

“But the disappointingly weak start for new home sales early this year, indicate low interest rates are not enough to sustain improvements in new home building conditions and something more needs to be done at the policy level.”

An industry report released in February this year showed a decline of 7.3 per cent in seasonally adjusted new home sales in January, with Victoria experiencing the sharpest decline of 19.6 per cent.

“The report also showed a decline in detached house sales for NSW and SA as well, which further weakened results, but strengthened the case for government action,” Jee Chin said.

According to Jee Chin, a real opportunity exists for governments to set the new home building agenda and look at policy reform that will reduce new home building taxes.

“Up until now, both state and federal governments have relied on Victoria to prop up this segment of the Australian market, but the results show they can no longer do that.  It is up to governments to show leadership and do something,” Jee Chin said.

“Policy reform, especially reducing taxes and costs for home building would have a multiplier effect.  It would attract people in a financial position to build a new home, and have the knock on effect of increasing economic activity through jobs and sales activity.

“Everyone’s a winner, so why can’t we build more new homes?”

TRENDS IN PROPERTY – WHAT’S APP-ROPRIATE

Tweet

Jee Chin, Principal, First National Real Estate JM Chase says there will be a stronger focus on technology for the property market this year, but cautions buyers and sellers to make sure they know the most app-ropriate ones that are fit for their purposes.

 Image source: https://encrypted-tbn0.google.com/images?q=tbn:ANd9GcQ3E3WbMDvRTWLfPmSrLnGdQCtMzMC9faGmRtrTUrFhqB5S-Rg6nQ

“We know consumers crave information because it gives them power, control and improved certainty over their purchase decisions,” Jee Chin said.

“So, the more information we provide, the better our service delivery. That’s why we have worked so hard, to stay at the forefront of technology in our industry and to ensure we provide the public with what best suits their needs.”

Jee Chin says one technological advancement set to revolutionise the way consumers access real estate information is the Point-Know-Buy (PKB) trend.

“PKB will reshape consumers’ information expectations, search behaviour and purchasing patterns,” Jee Chin said.

“Which is why it is crucial they understand how it works whether they are interested in buying or selling property.”

PKB enables consumers to access information about objects they encounter in the real world while on the go, simply by pointing their smartphone or similar device at anything they are interested in.

“What PKB does is effectively links images to any available information about that picture,” Jee Chin said.

“Which means a buyer can be out and about, perhaps at a display home or open house, point at a prospective piece of real estate and access any available information about it just by pointing their phone.

“No more sitting for hours in front of a computer looking for that ideal house, or being limited to receiving information based on matching words for search engine optimisation or how well you describe something.

“The information will be at their fingertips and instantly accessible, making it much more efficient and convenient for house hunters.”

First National Real Estate JM Chase already uses mobile technology to its fullest advantage through various Apps which give consumers control.

“We can instantly add a customer’s wish list to our database which will highlight properties that are suitable matches,” Jee Chin said.

“We can also demonstrate to home sellers the impact on the number of potential buyers if a selling price is too high. Our mobile Apps allow our agents to demonstrate, using a sliding scale, how many buyers are waiting on our database for their home, based on their asking price.

“Mobile Apps also allow us to offer superior property management services for both landlords and tenants through an application that adds a tenant to our database at inspections and another one that enables us to provide a much more thorough and efficient condition reporting tool for landlords.”

The coming 12 months is expected to see a full-blown expansion of technology, especially PKB, and First National is advising consumers to make sure they are up to date with all the latest breakthroughs so they can use the one most app-ropriate for their needs.

FIRST NATIONAL AT HOME IN REGIONAL VICTORIA

Tweet

First National Real Estate today announced its official sponsorship of the 2012 Regional Victoria Living Expo, testimony to its commitment to the local community in which it works and lives.

The 2012 Regional Victoria Living Expo aims to bring regional and rural Victoria to Melbourne to showcase the business, lifestyle and cultural riches country Victoria has to offer.

“Country or rural living offers many lifestyle benefits for people and, increasingly, Melburnians are seeking those out,” First National Real Estate JM Chase principal, Jee Chin said.

“We have 83 offices throughout Victoria, with more than half, 47 in fact, located in regional areas, so it is only fitting that we support our communities by highlighting to city-dwellers the many prospects and opportunities on offer.”

Jee Chin said that the trend for ‘city folk’ to relocate to, or find business and investment opportunities in the country had been growing, especially in recent years, and the Expo is an ideal opportunity for them to find out all about regional Victoria and what it has to offer.

“It can often be daunting for someone looking to purchase a property in the country to find the right area offering the right mix of business, lifestyle, cultural and recreational living,” Jee Chin said.

“It can also be nerve-racking to make their decision when they are not sure of the area or where the growth opportunities lie.  This is why an Expo like this has been sorely needed for some time.

 “We are very excited by the Expo because it provides a real opportunity for us to reinforce our commitment to the community and gives us a chance to show off what we can do for our customers.”

The 2012 Regional Victoria Living Expo will run for three days from 27-29 April, 2012 at the Melbourne Exhibition Centre 2 Clarendon Street, Southbank, Melbourne, Australia.

FIRST NATIONAL REAL ESTATE ‘$50,000 CASH DROP’

Tweet

First National Real Estate will offer customers the opportunity to win a share of $50,000 cash in its ‘$50,000 Cash Drop’ competition from 1 March.

“All you need to do is buy or sell a house through us, rent a property, or ask us to manage your investment property and we’ll automatically enter you in the competition” Jee Chin, First National JM Chase Principal said.

The competition runs between 1 March and 31 August 2012 and because the prizes are cash, customers will be free to do whatever they wish with their winnings.

“We’re very excited to be able to offer First National customers this opportunity for the next six months” says Mr Chin.

“One lucky homeowner, tenant or landlord is going to get a very nice surprise come September”.

Renting With Pets? Think Again…

Tweet

You own an investment property and you’re wondering whether you should consider applications from tenants with pets.

Image Source: http://solidgoldcreativity.files.wordpress.com/2011/05/dog-gr.jpg





Conventional wisdom and maybe even your property manager’s advice suggests you might want to think twice about that. Obviously there’s the potential for damaged carpet as a result of small accidents, marked walls or garden damage. But is that really any different from the normal wear and tear of renting to people without pets?
New research suggests perhaps not.
Responsible pet owners typically work hard to ensure their pets don’t annoy neighbours and don’t do damage to their rental property. They know that one black mark against their name means it may be much more difficult to rent in future, or worse, they may have to surrender their pet to be euthanised, if they can’t find a suitable property.
The research also shows that tenants with pets pay and average $25 to $35 dollars more per week for their property.
Naturally, as with all rental applicants, good pet references are essential. Your property manager may also ask that your tenants sign an annexure to their lease, clearly spelling out expectations and requirements such as having carpets steam cleaned when the property is vacated.
As a landlord, the choice remains yours but allowing your property manager to consider applications from prospective tenants with good references expands your pool of potential customers. Anecdotal evidence also suggests tenants with pets rent for longer periods, reducing the wear and tear that occurs when people move in and out, and, lifting your annual net return.
First National Real Estate offers a ‘Pet Friendly Rental Search’ on its national and member websites. Prospective tenants simply tick the ‘Pet Friendly’ box when searching for property to instantly separate properties that are an option for them.
Even though vacancy rates are at very low levels and many landlords experience no difficulty finding good tenants for their properties, renting to a responsible tenant with a pet may see your investment leased for a longer period, at a higher rate, and that’s well worth thinking twice about!

SOLD at AUCTION!

Tweet

15 Victoria Avenue, MITCHAM

FIRST NATIONAL SUPPORTS RATES DECISION

Tweet

First National Real Estate JM Chase’s principal, Jee Chin, supports the RBA’s decision to keep interest rates on hold, saying stability is what is sought during times of ongoing consumer nervousness and tension.

“The market is tightly wound at the moment, and movement of any kind could unsettle confidence, which is why we believe the decision by the RBA was the right one at this time,” Jee Chin said.

“Our agents have reported drops in listing volumes for the second month in a row, which, in part, reflects home owners waiting for selling conditions to improve before they put their properties on the market but also reflects seasonal factors.

“While the market remains slow in much of Australia, decreases in housing availability will begin to place upward pressure on prices as it increases competition, ultimately reducing the number of days it takes to sell a home.”

Jee Chin said home buying opportunities, even with the rates remaining steady, were still plentiful as interest rates are still relatively low and home prices are at their most affordable for quite a number of years.

“This all bodes well for a property market looking for signs of stability and recovery” Jee Chin said.

“Any decreases in rates at this time could have further added to consumer nervousness, which is still suffering from uncertainty around global economies and impacts of rising living costs, especially with the advent of the carbon tax.

“At the same time, an increase now could result in reduced affordability, something first home buyers in particular can ill-afford at a time when some of the government assistance schemes are being cut back or dropped altogether.

Jee Chin said he encouraged anyone looking to purchase a home at the moment to negotiate.

“All the Big 4 banks and other mortgage lenders are on record as saying they are willing to discuss rates with home buyers in order to retain their share of the market, so buyers are in a real position of power to make them deliver on their statement,” Jee Chin said.

“A calm approach is exactly what is needed right now to allow the property market to catch its breath and stabilise activity, so it can prepare for the next wave of influencing factors. This falls right into the hands of home buyers who should be able to secure the best deals they have for many years.”