Monthly Archives: April 2013

http://www.ljgrealestate.com.au/index.php?lan=ch State of the states – 0. Feature | Switzer

State of the states – 0. Feature | Switzer

http://www.facebook.com/pages/LJ-Gilland-Real-Estate-Pty-Ltd/169194919788253http://www.ljgrealestate.com.au


Posted By Blogger to http://www.ljgrealestate.com.au/index.php?lan=ch on 4/25/2013 06:03:00 pm

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SELLING TENANTED PROPERTIES – L J GILLAND REAL ESTATE PTY LTD : http://wp.me/p1qS3N-oX & http://wp.me/p1qS3N-oZ

Dear Valued Friend and Associate,

At a recent REIQ zone breakfast the topic was selling tenanted properties.

Brad Kerrisk, Member Liaison Manager from the REIQ pointed out some tips to help when selling a tenanted property.

When an Owner/Vendor is ready to sell the first step is to notify the Managing Agent of intention to sell. This is best to come from the Owner. The Selling Agent should also contact the Managing Agent to discuss. The Owner/Vendor may select one or multiple agents to appraise their property.

The Managing Agent then gains the consent to carry out an appraisal from the Tenant (Form 9, Entry Notice is issued) on behalf of the Sales Agent, the Sales Agent then conducts the appraisal. The Tenant must be given 24 hours clear notice from time notice is received to gain entry to the premises. Best Practise is to call and discuss this with the Tenant.

The Owner/Vendor then completes and signs the appointment of Real Estate Agent – Sales and Purchases (Form 22a) with the Sales Agent. It is best practise to provide a copy of this form to the Managing Agent to verify that the property is on the market.

The Sales Agent must inform the Tenant that the property is officially on the market by issuing a Form 10 Notice of Lessors Intention to Sell Premises. (It is best practise that the Sales Agent issue this form to ensure that the notification is definitely given) and a copy provided to the Managing Agent.

It’s important to remember to work with the Tenants, not at them. Be consultative, be professional, they could be your next buyer and biggest advocate. Take time to explain what to expect now that the property is on the market. Negotiate terms and build a relationship with them. Always get Tenant consent forms signed it’s absolutely critical when using internal photos, conducting auctions and carrying out open homes.

Once a contract of sale is entered into inform the Tenants that the property is under contract, inform the Managing Agent. Managing Agent will then explain to the Tenant their options under the lease.

When the contract is unconditional and if new Owners want vacant possession of the premises then a Notice to Leave (Form 12) marked with grounds, for sale contract, must be issued for the Tenants to vacate the property (subject to the terms of the lease).

Minimum settlement time is 48 days for a tenanted property however that is a very tight schedule and it is best practise to set approximately 60 days.

Suggested schedule

§ Day 1 sale date

§ Day 2 inform agent of contract

§ Day 15 unconditional Tenants given notice

§ Day 45 4 weeks is up for the Tenants to vacate

§ Day 47 Exit cleaning, repairs, pre settlement inspection

§ Day 48 settlement ( business day) 60 days is best practice

If a fixed tenancy is in place the details of the lease are to be recorded on the contract and as best practise a copy of lease should be attached to the contract.

Remember if the lease is a periodic lease the Tenant can give 2 weeks notice on Form 13 (Notice of Intention to Leave) at anytime.

At the end of this process everyone should feel informed and a smoother, more streamlined process accomplished. Communication is the key.

Further, have your Managing Agent sell your Tenanted property, they are the best Agent for the job.

Choose an Agent that is interested in the relationship of everyone involved and takes into account what’s best for all parties not just earning a commission.

Your Managing Agent will always have a relationship already formed with your Tenant which makes it so much easier to sell your Investment Property with a Tenant in place.

It makes sense that keeping a Tenant in place on a fixed term lease ensures that the property is still income producing and if your Agent knows the market well, then the rental return should look attractive to a Prospective Purchaser.

In my experience most Agents will recommend that the Tenant be evicted and the property left vacant whilst on the market. This is poor advice as there is no income generated on the property whilst on the market for sale, and it will not look appealing to Prospective Investors.

Choose LJ Gilland Real Estate to sell your Tenanted property. If your property is managed by another Agent and you want to sell, transfer to LJ Gilland Real Estate and we will remove the hassle from sales and rentals aiming at the best result possible in any challenging real estate market, whilst making selling a sweet, smooth and nurturing experience for all involved.

Thinking of selling? If you would like a current Market Appraisal contact us now.

Looking forward to hearing from you.

Best regards,

Phone: (07) 3263 6085

Fax: (07) 3263 5985

Mob: 0400 833 800

Mob2: 0409 995 578

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LJGillandRealEstatePtyLtd

http://www.ljgrealestate.com.au/index.php?lan=ch

Confidential Email

The information in this message is intended for the recipient named on this email. If you are not that recipient, please do not read, copy, distribute or act upon the message as the information it contains may be privileged and confidential. If you have received this message in error, please notify us immediately by return email. Thank you for your co-operation

Blog: Linda
Post: RP Data Rental Market Analysis
Link: http://ljgilland.blogspot.com/2013/01/rp-data-rental-market-analysis.html

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How to Fix New Home….. – L J GILLAND REAL ESTATE PTY LTD – http://wp.me/p1bR1G-hz

Article Courtesy of LJ Gilland Real Estate as follows:-

How to fix new home sales (and how not to)

Posted by Unconventional Economist in on April 4, 2013 | 23 comments

By Leith van Onselen

As summarised by Houses & Holes, the Housing Industry Association (HIA) yesterday released new home sales data for the month of February, which registered an overall -5.3% fall in new home sales over the month, with detached house sales falling by -4.0% and unit sales falling by -11.0%. It was a disappointing result that reversed some of the gains experienced over the prior four months (see next chart).

In fact, on a rolling annual basis, overall new home sales were the second lowest in the series’ history, marginally above December’s record low, with detached house sales hitting a fresh all-time low (see next chart)

Last month, Property Observer released a great primer summarising the various incentives on offer from Australia’s state and territory governments for purchasers of “off the plan” dwellings. Below are the incentives on offer (quoted from Property Observer) compared against the latest new house sales & house approvals data. As you will see, the results are not pretty, with these incentives so far failing to stimulate house sales across Australia’s major markets.

New South Wales:

A first-home buyer who purchases a $550,000 new home will get $35,240 in assistance. This includes a $15,000 grant for firsthome owners who purchase or build a new home valued at up to $650,000. The grant is available until December 31, 2013, reducing to $10,000 from January 1, 2014. Non-first-home buyers, including investors, who buy a new home are eligible for $5,000, whether the new home is off the plan or newly built, with a value up to $650,000. The $5,000 grant is also available to buyers of vacant land that is intended to be the site of a new home, valued up to $450,000. First-home owners are also eligible for a maximum stamp duty saving of $20,240 for homes up to a value of $550,000, with duty concessions for new homes valued between $550,000 and $650,000. The transfer duty exemption cap on vacant land is $350,000, with duty concessions for vacant land valued between $350,000 and $450,000.

Despite the generous incentives on offer, it was the worst February new house sales on record (see next chart).

Rolling annual new house sales in February 2013 were also tracking at their lowest level on record, whereas house approvals are showing signs of improvement:

Victoria:

There are no special incentives for off-the-plan buyers in Victoria after the government removed the $13,000 First Home Bonus on 1 July 2012. Accordingly, new house sales have tanked, hitting the lowest annual level in the series’ history following the worst February sales on record, with house approvals also falling sharply:

Queensland:

A $15,000 first-home owner construction grant (FHOCG) is available. The FHOCG applies to new property bought or built at a value under $750,000. First-home buyers also pay no duty on purchases up to $500,000, with a phasing-out rebate applicable for values up to $600,000.For non-first-home buyers, the Queensland government offers a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase. The buyer must occupy the home for a period of 12 months – an applicant may lose the concession if he or she sells or leases part or all of the home before moving in or within a year of moving in.

Despite the generous government incentives on offer, it was the worst February new house sales on record (see next chart).

Rolling annual new house sales in Queensland also fell to their lowest level in the series’ history in February, whereas approvals have picked-up recently (see next chart).

South Australia:

South Australian first-home buyers buying off the plan have the chance to secure up to $23,500 from the state government, provided they buy or build a new home. The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into up to a value of $575,000, plus a further $8,500 housing construction grant (HCG) available until June 30, 2013. The HCG is available to all buyers of new homes for properties valued up to $400,000, phasing out for properties valued up to $450,000 where contracts are entered into between October 15, 2012, and June 30, 2013, inclusive. If you are purchasing a new or substantially refurbished apartment:

• within the area of the Corporation of the City of Adelaide;

• on any land within the area where the Bowden Redevelopment project (Bowden Village); or

• on any land located within the area known as 45 Park, Gilberton;

You may be eligible for an off the plan stamp duty concession of up to $21,330 (capped at stamp duty payable on a $500,000 apartment), if your contract to purchase was entered into between May 31, 2012, and June 30, 2014. This concession is in addition to the first-home owners’ grant. If eligible, no stamp duty will be payable where the apartment has a market value of $500 000 or less. Where an apartment purchased has a market value greater than $500 000, the buyer will be entitled to a stamp duty concession of $21,330. A calculator is available on the RevenueSA.sa.gov.ua website to determine the stamp duty payable and concession that could be applicable. A partial concession will be available for contracts entered into between July 1, 2014, and June 30, 2016. South Australian first-home buyers of established homes are entitled to a $5,000 first home owner grant, which expires on June 30, 2014.

Despite the generous government incentives on offer, it was also the worst February new house sales on record (see next chart).

Rolling annual new house sales in South Australia also fell to their lowest level in the series’ history in February, with approvals also falling sharply (see next chart).

Western Australia:

A $7,000 first-home owner grant remains in place for a newly constructed or established home. It does not apply to vacant land purchased to build a new home. The total value of the home must not exceed $750,000 if the property is located south of the 26th parallel of South Latitude, or $1 million if located north of the 26th parallel of South Latitude. First-home buyers eligible for the $7,000 grant pay no stamp duty on homes valued up to $500,000 and up to $300,000 for vacant land.

Western Australia is the one brightspot for the housing industry, with both new house sales and approvals on the rise (see next chart).

I think it’s pretty clear that the majority of first home buyer (FHB) incentives for new dwellings have so far failed to inject life into sales or approvals. We don’t know the counter-factual of course, and perhaps sales would have been even more dismal than otherwise. The results also suggest that the RBA will have a great challenge trying to shift the economy to houses from holes as the mining investment boom fades.

Overall, the answer is as old as markets. There is no substitute for making urban fringe developments cheaper through reform to the planning and taxation regimes that inflate land costs, as well as better provision of housing-related infrastructure.

Best regards,

Phone: (07) 3263 6085

Fax: (07) 3263 5985

Mob: 0400 833 800

Mob2: 0409 995 578

info

LJGillandRealEstatePtyLtd

http://www.ljgrealestate.com.au/index.php?lan=ch

Confidential Email

The information in this message is intended for the recipient named on this email. If you are not that recipient, please do not read, copy, distribute or act upon the message as the information it contains may be privileged and confidential. If you have received this message in error, please notify us immediately by return email. Thank you for your co-operation

http://wp.me/p1qS3N-oX & http://wp.me/p1qS3N-oZ

Linda-Jane Debello has sent you a link to a blog:

For your perusal and information with best regards for the New Year 2013.

Blog: Linda
Post: RP Data Rental Market Analysis
Link: http://ljgilland.blogspot.com/2013/01/rp-data-rental-market-analysis.html

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Official RP Data house price release

http://www.macrobusiness.com.au/2013/04/official-rp-data-house-price-release/

1334292961.png Linda J. Debello Licensee, LJ Gilland Real Estate Pty Ltd

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