Posts Tagged ‘Raine & Horne Glenelg’

Quick… watch this Youtube video and be the first to inspect before it’s open to the public…

Come and inspect this stunning three bedroom two story residence executive residence at 45 High Street, Glenelg. Situated in the heart of thriving Glenelg. This residence offers smart, sleek & exceptional living just a few steps away from Jetty Road &, Glenelg Beach.

This property is presented by Monika Bonet, Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent

When media reports start talking about static or falling home prices, many homebuyers think that it’s a good idea to watch the market and wait for it to reach the bottom. They feel that if they postpone their purchase long enough, they are likely to see prices fall further and snap up a ‘real bargain’. 

While bargains do exist, of course, for people who are in the right place at the right time, there are often more people who miss out by using this strategy than gain.  Most homebuyers buy their family home and live in it for, on average, seven to ten years.  And when we’re looking at averages, the property market continues, in the big picture, to rise. Based on historical property cycles, property may undergo periods of static growth and periods of galloping growth, but on average, well-located, well-selected residential property doubles in value every ten years or so. Certainly, if we could always pick the lowest time to buy and the highest time to sell we would do very well indeed, but the only buyers who need worry about the immediate state of the market are the real estate speculators who wish to buy then sell again straight away, or those who are too highly geared or who have entered into unrealistic amounts of debt. For everyone else, the chances of strong long-term capital gain are virtually assured, provided they buy well-selected property in well-selected locations.

It’s famously difficult to pick the ‘bottom’ of the market. Often buyers who wait find themselves having little to choose from as listings get scarce – and a sudden flurry of competition for the few desirable properties actually on the market for sale often causes them to sell for higher prices than expected, even in a market described as a difficult one for sellers.  Buyers end up paying more than they bargained for if they  keep on watching and waiting;  because the ‘flurries’ they waited out were signalling an upturn in the market or the end of the halcyon days for buyers.
 
Purchasers who wait too long for a ‘bargain’ or the ‘lowest point of the market’ often only realise that the lowest point has already been reached once they can look back on it with the 20/20 vision of hindsight.

This blog post is brought to you by Raine & Horne Glenelg, your Glenelg Ragement Expertseal Estate Agents and Glenelg Property Management Experts.

Many Glenelg homeowners are holding off from putting their property on the market as the media continue to report a market downtown and uncertain financial times. But the ‘best time to sell’ is often not what it seems. 

Some people sell to retire and buy something smaller. This blog post does not refer to them. But the majority of sellers at any given time are trading up to a bigger property to house their growing family or reflect their increasing wealth. These home owners will pay more for their next home, than they will get for the one they are selling ….and actually do better when the market is on the decline. The fact that they are spending more money second time round gives them an opportunity to make money on the transaction.

If the reason they think it’s ‘not a good time to sell’ is because they ‘will not get a good enough price’ for their home, then the logical next step is to realise that if the market prevents them from getting the price they want, it will also affect the sellers of the property they are trading up to…and the bottomline net gain remains with the person who is trading up. If you get $603,000 for your home in a cheaper suburb (which has been valued at $670,000), you may feel you are ‘losing’ $67,000 or around 10% of the value of your asset.

But if you (say) buy a more expensive home in a more expensive suburb such as Glenelg, which is (say) valued at $850,000 in the same market. Then the owners of that home will also ‘lose’ 10%, as you also will not be paying more than the current declining market value.

In paying 10% less for the Glenelg Property you will pay $765,000, ‘saving’ $85,000 – thereby ‘making’ $18,000 on the transaction. In other words you ‘saved’  more on the next transaction, than you ‘lost’ on the sale of your current home, so you are ahead by $18,000.

In fact, there are other advantages to trading up in a buyers’ market.

Because prices are stable and properties often take longer to sell, once vendors have sold their original property there is no rush to buy. They can take their time choosing and negotiating their next purchase without having to watch the gap between the price they got for their original property and the price they have to pay for their next one increasing at an alarming rate.

This blog post is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts.

“It’s sometimes hard to work out when interviewing a new Glenelg Landlord, why they may feel vaguely dissatisfied with their incumbent property management service” said Ms Bonet Principal – Raine & Horne Glenelg.

“When you sart talking to them you know straight away it’s not working for them, but you can’t put your finger on why?”

“Our experience with our Glenelg Property Management business is that most property investors want to communicate with one person for their day-to-day needs” said Ms Bonet. ”They don’t want different jobs to be managed by different personnel (task management); they want their whole portfolio to be looked after (whether they own one property or several) by one person who is responsible for all tasks relating to their properties – arrears, re-letting, repairs and so on”.

When it comes to hiring a property manager, here is a checklist you can run through to reassure yourself that your agent is doing the best thing by your investment. Here’s a checklist thatall Property Investors should ask themself;

1. Does your property manager talk to you on the phone or does he/she send emails or text messages? Most landlords are baby boomers and prefer to discuss things directly when there is a problem so if you feel your property manager is hiding behind emails or text messages when you need to talk, let them know.  
    
2. Do they respond to your requests quickly? Property managers who take longer than half a day to respond to phone calls and emails are letting you down.
    
3. Most landlords prefer minimal vacancy; it’s obvious that even a week’s vacancy is money that will never be recouped.  If your property is vacant, don’t let your property manager ‘give it another week to see how we go’. If it isn’t rented in 10 days, it’s time to drop the rent by 10%.
    
4. Are you getting the best referenced tenants? Keeping the rent at 95% of market value minimises arrears, vacancies and maintenance – and therefore increases net return although the rent is slightly below market. Landlords who go for the highest rent lose money in vacancies and repairs – so check that your agent isn’t setting the rent too high.
    
5. Does your property manager keep you informed about further ‘good’ investments? This could be via an email with links to their website and properties for sale.

This blog post is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts.

Watch this youtube video, and discover how you double your tax return on your investment property…

This video is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts.

Watch this Video to hear from Raine & Horne SA’s CEO Kevin Magee, to find out what is happening in the SA Real Estate Market in March 2011.

This blog post and video is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts

Watch this Video to hear from Raine & Horne SA’s CEO Kevin Magee, to find out what is happening in the SA Real Estate Market in January 2011.

This blog post and video is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts

Adelaide renters are paying $15 a week more compared with this time last year and can expect further rises.

Real Estate Institute of SA figures show the median weekly rent in Adelaide hit $310 in the December quarter, up 5.1 per cent on the $295 weekly median from the 2009 December quarter.

Industry experts attributed the increasing rents to a tight market and interest rate rises.

The rise in weekly rent came despite a 5.5 per cent increase during the past year in the number of properties available for lease.

REISA president Greg Nybo said the rises were to be expected in Adelaide’s rental market, where the vacancy rate had hovered at or below 1 per cent for much of the past year.

“What we are now starting to see is the reality of a very, very tight rental market,” Mr Nybo said.

“When you have so many people looking for a limited product, rents are going to go up accordingly.

“A lot of landlords have also adjusted their rents with increases in interest rates and ongoing price rises for utilities.”

Statewide, the median weekly rent increased 5.5 per cent during the past year to $290. Mr Nybo said the larger statewide increase could be reflective of the state’s expanding mining sector and a mostly strong year for farmers.

“If the job is there and people are moving to the country for employment in mining or agriculture, it’s going to make for limited stock, which again means higher rents,” he said.

Mr Nybo said that with interest rate rises forecast for this year and no sign of demand letting up, similar increases in rent could be expected in 2011.

 Property Investors: Are you getting the right rent for your property in this market?  Find out what rent you should be getting…

Simply enter your property details and we will email you a free appraisal as to what your Glenelg or Western Coastal investment property should be renting for.

 Click here for an appraisal form

This blog post is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management experts.

Source: Adelaide Now

Watch this Video to hear from Raine & Horne SA’s CEO Kevin Magee, to find out what is happening in the SA Real Estate Market in December 2010.

This blog post and video is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts

Watch this Video to hear from Raine & Horne SA’s CEO Kevin Magee, to find out what is happening in the SA Real Estate Market in November 2010.

This blog post and video is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Experts