Wednesday, 27 August 2008

In the beginning ...

Hi, welcome to my new blog - a place for me to share my views on local property and a place for you to both cast an opinion and ask questions.

First, a little about myself.

My wife Josephine and I started our real estate office (Starr Partners Campbelltown) in 1988 - 22 years ago, this year, we changed focuse and re-opened as Prudential Real Estate.

You can find my full bio at this address ... About Our Office

Property has been in the news on two fronts lately.

Residential rents are rising very quickly - so quick, in fact, that many hopeful tenants are missing out after being just one of dozens of applicants.

How do you get to the top of the agent's list when you're one of dozens ?

1. Make sure you have a copy of your current or old rent ledger available to attach to your application (you can ask for a copy of this from your agent)

2. Be sure to answer every question on the application with care - the more information you provide the more reasons you give the agent to approve your application

3. Don't ask for a pet to be allowed. I know, this one will hurt, but many landlords will not accept a pet and when you ask for yours to be allowed at the property you instantly give yourself a handicap.

Property sales have also been in the news - for all the wrong reason, perhaps.

Most articles you read at the moment paint a pretty dreary picture - few buyers, falling prices, rising interest rates ... yuk !

All indicators point to a genuine buyer's market. And that's what you should be doing right now - buying !

Yes, I know interest rates are at an all time high (or so the newspapers would have you think) but right now Macarthur property prices are at their lowest point since 2002.

So, even if you want to sell your existing home to trade up to a new home you'll be buying a bargain (yes, I suppose you'll also have to sell at a low price but by trading up you'll make a great profit when the market turns in the next 12 months)

Better still, if you're thinking of buying a rental property you'll get a double whammy ! You'll be buying low and renting a property whilst weekly rents are skyrocketing - yahoo !

Let me know what your experience has been like on the current market.

regards, Michael