Real Estate Market Update – Forthcoming Fight Night #2: Shares V Property Workshop and the AFL Grand Final Weekend – Victorians Get Behind The Doggies!

There’s a lot of activity this week in Melbourne with the AFL Grand Final and busy in the work place too with a short week due to the Grand Final Eve Public Holiday in Victoria. Here is a quick Real Estate Market Update, news and helpful reminders. Be safe this weekend, have fun and Go Doggies!

 

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Keep Calm Grand Final

 

 

 

 

 

 

 

In This Issue:

 

 

  • Real Estate Market Update – REIV Geoff White’s Market Wrap

 

  • Core Logic RP Data – Pain and Gain June Quarter, 2016

 

  • AFL Grand Final Weekend – Victorians Get Behind The Doggies!

 

  • LOOKING AFTER YOUR INVESTMENT
    NEIGHBOURHOOD INSPECTIONS – Building & Pest Inspector

 

The 2016-2017 daylight saving period will commence in Victoria on Sunday, 2 October 2016, when clocks will go forward one hour at 2am and will conclude on Sunday, 2 April 2017, when clocks will go backwards one hour at 3am.

 

 

 

 

 

 

 

Forthcoming Fight Night #2: Shares V Property Workshop

 

Verse Wealth

 

Fight Night #1 was well received and a sell out workshop event. It was a pleasure to be invited as a guest speaker on the property team and to be involved in the event.

Due to popular demand the team at Verse Wealth are hosting Fight Night #2: Shares V Property.

DATE AND TIME

Wed 26 October 2016

6:30 PM – 8:30 PM

 

Register Your Ticket Now: Fight Night #2 – Shares V Property

DESCRIPTION

It’s fight night, again.

After selling out our first workshop in a few short weeks, we’re again inviting you to join us and sit ringside for a Five Round Title Fight between two investment heavyweights.

Watch them go toe-to-toe in a bruising encounter to finally end the age old debate – are Shares or Property the better investment?

Each round will see Shares and Property go pound-for-pound as we cover all the fundamental aspects of successful investing:

Round 1: Returns

Round 2: Costs

Round 3: Tax

Round 4: Liquidity

Round 5: Current market

The event presenters and leading financial Advisers Corey Wastle and James O’Reilly will be pulling no punches as they breakdown and compare the benefits, disadvantages and differences to help you invest like a pro and get ahead of the pack immediately.

What you’ll leave with…

Knowledge: Learn the key differences, drivers and how to invest with success in both shares and property.

Context: Understand which investment strategy is a better fit for you.

Clarity: We’ll simplify the complexities of investing and dispel the common myths to leave you informed.

What you can expect…

The most valuable and entertaining financial advice workshop ever…. punch packed full of fun, laughter and a plenty of red wine.

What will it cost…

$40 for a ringside ticket, $80 after early-bird closes.

How do I get there…

  • The Windsor Workshop is located at Level 1, 115 Chapel Street Windsor – above the “Salvo’s” and across from “Yellow Bird Cafe Bar
  • Access by train (Sandringham line) to Windsor Station (only a few blocks from Windsor Station)
  • All day parking is available behind “Paint Spot” (opposite Windsor Station) as well as on-street 2 and 4 hour parking spaces in the area

What about food…

We’ll provide wine, cheese, tea and coffee. If it has been a big day, it might be best to have a meal before you arrive.

What next?

 

Verse Wealth

Register and we will see you there.

Register Your Ticket Now: Fight Night #2 – Shares V Property

 

 

 

 

 

 

 

Real Estate Market Update – REIV Geoff White’s Market Wrap

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MONDAY 26TH SEPTEMBER – SATURDAY 1ST OCTOBER

Auction Update – Due to the AFL Grand Final, the REIV is expecting about 60 auctions in 52 suburbs this week. The top auction locations this week are Lalor (5 auctions), followed by Rowville, Mount Waverley and Forest Hill with two auctions in each.

Mulgrave and Greensborough are the top clearance rate suburbs in September, both with a 100 per cent clearance rate, while Reservoir is top auction suburb in September with 46 sales.

 

Geoff White1

CEO – REIV

Geoff White

 

RESERVOIR SALES & AUCTION RESULTS 

MONDAY 19TH SEPTEMBER – SUNDAY 25TH SEPTEMBER

Address Bed Icon Image Price Type Method Sale Date Agent
30  Banff  St 3 $811,000 House Auction Sale 24/09/2016 Ray White Bundoora
70  Barry  St 3 $785,000 House Auction Sale 24/09/2016 Love Real Estate
30  Davidson  St 5 $925,000 House Auction Sale 24/09/2016 Nelson Alexander
25  Evans  Cr 4 $750,500 House Auction Sale 24/09/2016 Barry Plant
641-641A  Gilbert  Rd 3 $1,068,000 House Auction Sale 24/09/2016 Nelson Alexander
1/ 36  Hickford  St 3 $680,000 Townhouse Auction Sale 24/09/2016 Nelson Alexander
906  High  St 3 $700,000 House Auction Sale 24/09/2016 Nelson Alexander
4/ 767  High  St 1 $320,000 Apartment Passed in Vendor Bid 24/09/2016 Ray White
5  Jess  St 4 $801,000 House Auction Sale 24/09/2016 Ray White
1/ 164  Leamington  St 1 $216,000 Apartment Auction Sale 24/09/2016 Brad Teal
2/ 164  Leamington  St 1 $220,000 Apartment Auction Sale 24/09/2016 Brad Teal
19  Liston  Av 3 $600,000 House Passed in Vendor Bid 24/09/2016 Barry Plant
4/ 20-22  Rathcown  Rd 2 $346,000 Unit Auction Sale 24/09/2016 Nelson Alexander
3/ 214  Spring  St 2 $380,000 Unit Passed in Vendor Bid 24/09/2016 Love Real Estate
41  Winter  Cr 2 $401,000 House Auction Sale 24/09/2016 Nelson Alexander
2/ 120  Mcmahon  Rd 2 $465,000 Townhouse Private Sale 23/09/2016 Ray White
9/ 81-83  Spring  St 2 $520,000 Townhouse Private Sale 22/09/2016 Barry Plant
3/ 40  Macartney  St 1 $307,500 Unit Private Sale 21/09/2016 Barry Plant
2A  Hobbs  Cr 2 $485,000 Townhouse Private Sale 20/09/2016 Barry Plant
1/ 47  Barton  St 3 $626,000 Unit Private Sale 16/09/2016 Ray White
11  Burnett  Cr 3 $625,000 House Sold Before Auction 16/09/2016 Nelson Alexander
11  Burnett  Cr 3 $625,000 House Sold Before Auction 16/09/2016 Nelson Alexander
16  Cool  St 2 $840,000 House Sold Before Auction 16/09/2016 Nelson Alexander
2  Ludeman  Ct 3 $570,000 House Sold Before Auction 11/08/2016 hockingstuart
4/ 27  Allenby  Av 2 $undisclosed Unit Passed in at Auction 24/09/2016 Harcourts
26  Home  St 4 $undisclosed House Auction Sale 24/09/2016 Nelson Alexander
5/ 38  Hughes  Pde 1 $undisclosed Unit Passed in at Auction 24/09/2016 Harcourts
57  Newton  St 3 $undisclosed House Auction Sale 24/09/2016 Nelson Alexander
1/ 2  Pershing  St 3 $undisclosed Townhouse Auction Sale 24/09/2016 Brace RE Thornbury

 

 

 

 

 

 

 

Core Logic RP Data – Pain and Gain June Quarter, 2016

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A quarterly assessment of realised gross profit and loss based on dwelling re-sales over the June Quarter of 2016

  • Based on the June quarter findings 5.9% of capital city houses resold at a loss
  • 9.5% of capital city units resold for less than the previous purchase price
  • Regional areas experienced the highest proportion of pain with 12.2% of houses & 19.9% of units making a loss at resale.

Click here to view the complete Core Logic RP Data – Pain and Gain June Quarter, 2016 report:

 

 

 

 

 

 

AFL Grand Final Weekend – Victorians Get Behind The Doggies!

Temporary Bulldog

AFL grand final: Bulldogs fans pack Whitten Oval for final training session

“Woof, woof!” came the cheer from the crowd.

In their red, white and blue – to the sound of trumpets blaring Sons of the West – Bulldogs supporters converged on Footscray’s Whitten Oval on Thursday morning.

They had waited 55 years for a moment like this. And there were about 10,000 of them.

Crammed into the stands, lining fences and perched on the grassy hill, the faithful turned out in force.

Some diehard fans arrived as early as 6am. Thursday’s open training session was the last opportunity for many who have missed out on grand final tickets to see their heroes in the flesh

FFC Bulldog images

Article September 29, 2016, by The Age – Marissa Calligeros

 

 

 

 

 

 

 

LOOKING AFTER YOUR INVESTMENT
NEIGHBOURHOOD INSPECTIONS – Building & Pest Inspector

 

Neighbourhood Inspections - Bruce

 

As Buyers Agents and Property Managers, Master Advocates Real Estate Services depend on the valuable experience and reports of independent building and pest inspectors to assist with many aspects of buying or leasing property in good order, minimise risk and maximise due diligence as well as feasibility on minor or major building defects. This report should help you understand the importance of using a qualified building inspector. Bruce Leighton is just one Building Inspector that we have known and trusted for more than a decade and he was kind enough to share a story relating to a recent client of his, fortunately the client was not a client of Master Advocates and the property was not a property which Master Advocates Buyers Agents selected.

Bruce’s case study:

As a building inspector I’m often contacted by Real Estate Professionals who find themselves presented with a building issue which they need assistance in resolving. Although most agents carry out inspections to the property on a six monthly basis, it accrued to me recently that there may be a gap in what these inspections provide and what property owner’s expectations are.
I’m not to suggesting that property managers inspections don’t have great value, they do! They provide a snapshot of the property and its condition, issues around ongoing maintenance, tenants concerns and obviously the behavior of the tenant in relation to their care of the building, very important information to have.
I believe the gap in information occurs when managers identify issues but lack the expertise or experience to recognize the significance of these issues. This is not a of lack of care on the behalf of the real estate professional but more a case of not fully understanding how seemingly minor issues may be indicative of larger ones or in fact lead to larger issues. Rarely would property managers training extend to the complexities of foundation movement, the causes of it, or for that matter, any number of other problems that could prove problematic and costly to a landlord. A lot of these issues could be easily and cheaply solved with the right expertise, knowledge and experience.

 

Bruce

Bruce 1
The following case study is the catalyst for this article;
The site is in the northern suburbs of Melbourne, the property in question is around 13 years of age, single story, brick veneer, 3 bedroom unit, built on a concrete slab with a truss roof construction and concrete roof tiles. There is nothing remarkable about the property it appeared to be a straight forward build on a flat block. The property manager who contacted me had only just taken over from a colleague on leave. She was concerned that what had been described in prior reports as ‘minor’ had escalated dramatically

Some cracking to walls and ceilings had been noted and reported to the owner for the past 18 months- they were reported as minor and un- related to anything else on the site. The tenant had also done the right thing, flagging it with the agent on at least 2 occasions. The owner of the property lives and works overseas and is at arm’s length to the property- I have spoken with him and he assumed that the cracking was minor and ‘normal’ – nothing overly concerning, something that could be patched and painted on the next round of maintenance.
When I arrived at the site it was easy to see that the damage to the ceiling and walls was not minor. It was defiantly related to movement in the foundations and although it may have gotten worse recently, the root cause of the problem had existed for a long time- years most probably.

 

Bruce 2

It turns out, as with most issues of movement, excessive moisture at the foundations was the cause of the problem- the bearing capacity of soil, the thing that supports structure, is changed when there is a differential in the moisture content- i.e. if the soil has an elevated moisture level in one area, relative to another, the foundation will subside or heave. In this instance it was a downpipe that had become disengaged from the storm water system. This extremely common issue occurs when the exterior path or soil subsides and in so drags the underground storm water pipe with it.
With every rain event the disconnected downpipe discharges water directly to the foundations. Over time this section of the concrete slab has heaved, in turn this distorted the frame of the house including the roof trusses, resulting in cracking to plaster, both wall and ceiling, distortion to doors and window frames and cracking of floor tiles. It remains to be seen if the concrete slab has in fact cracked, if this is the case the house will not be recoverable.
The cost to repair this down pipe $3.40 in parts and 10 minutes to rectify, even if a plumber was to fix it, it would still only be the cost of a service call – under $200.00.

Sadly this situation could have been prevented years before it caused any damage to the house, It just would have required someone with the proper knowledge and expertise to understand, connect and then communicate the seemingly un related issues – a qualified, experienced building inspector
At neighbourhood Inspections we are exploring the possibilities of partnering with property managers who are interested in providing next level service for their clients. Our service would provide an annual, comprehensive building inspection to the site, including a full written report and follow up phone calls to owners and managers of the property. If as an owner you would like to engage with this service, encourage your Real Estate professional to get on board. Or get in touch.
Currently we are offering flat fee inspections at $280.00 per year.

 

Neighbourhood Inspections - Bruce
Bruce Leighton
Neighbourhood Inspections
www.neighbourhoodinspections.com.au
bruce@neighbourhoodinspections.com.au
0411801017

 

 

 

 

 

 

 

Don’t forget to set your clocks forward by one (1) hour this Sunday for the beginning of Daylight Savings Time!

The 2016-2017 daylight saving period will commence in Victoria on Sunday, 2 October 2016, when clocks will go forward one hour at 2am and will conclude on Sunday, 2 April 2017, when clocks will go backwards one hour at 3am.

 

 

 

 

 

 

 

 

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Supportive information sources: REIV, Core Logic RP Data, The Age, Business Victoria, Neighbourhood Inspections, Verse Wealth in Association with Master Advocates Real Estate Services published September 2016

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