Let's Talk Real Estate

Don’t Get Hammered: Check The Water Pipes

2011-10-24T11:19:00.001+10:00

It can be really irritating on your first day in a new home to turn off a tap and hear a loud banging or rattling coming from a wall or beneath the floor boards: The cause is water hammer or “hydraulic shock” and it can sometimes cause extensive damage to water pipes, hot water systems and appliances.

Sometimes water hammer is an indicator of an installation problem relating to piping, valves, taps, cisterns, hot water storage and heating, washing machines or dishwashers. The most common causes are tension in the piping, poor piping support in walls and under floors, high mains pressure and fast-closing solenoid valves in appliances.

When a tap is suddenly shut the moving mass of water in the pipe behind, which has built up velocity and pressure, suddenly stops...releasing a shock wave either in one loud bang or as a series of hammering noises. Eventually, this can cause leaks and even failure of the piping system.

Sometimes water hammer only occurs with a single device in the home, commonly a flush toilet. When you pull the chain or push the button to flush the bowl a float valve opens to refill the cistern. The closure of this valve can then produce water hammer in a susceptible system. This can be hell for light sleepers in the family home when it happens at night.

We at can assist you to locate a plumber in your area or resolve other property concerns.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Insulate For Comfort and Economy

2011-10-10T11:43:00.001+10:00

In a new home the cost of insulating walls, ceilings and floors is very reasonable because sarking (applied under roof cladding) and fibreglass or rockwool batts can be installed during the construction phase when access is optimised.

The purpose of insulation is to block the flow of heat into and out of the building. Wood, brick, stone and concrete have good insulating properties because they are poor conductors of heat but engineered insulation products are far more efficient. Modern lightweight insulating mats and batts only 150mm thick will block the flow of heat as effectively as a solid brick wall.

You can purchase packs of insulation material from hardware stores and building supplies retailers together with free do-it-yourself installation instructions but beware; this is not a task to be taken lightly. Insulation products, especially those made from fine shreds of glass or stone, can cause severe skin irritation and bronchial problems. Masks, gloves and protective clothing must be worn.

Other popular insulation products include cellulose, polystyrene, urea formaldehyde, perlite and urethane and are applied either as loose fill, mats, batts, slabs and rigid boards (urea formaldehyde and urethane are usually foamed-in-place).

Crawling around in roof spaces can be hazardous because of the risk of electrical shock, heat exhaustion and physical injury so it is recommended that you get quotes from professionals before attempting the task yourself.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Joint Tenancy

2011-09-26T12:02:00.000+10:00

Joint tenancy is a form of real estate ownership wherein two people jointly purchase a property with the intention of splitting everything fifty-fifty.

To illustrate the above, suppose an investment property is purchased and one party pays for 80 per cent of the deposit and expenses, while the other covers the balance. When tax time comes, the two parties have to claim 50 per cent of the expenses and 50 per cent of the income on their respective statements. It does not matter that one paid proportionately more than the other. This is what joint tenancy is all about.

In the case of a husband and wife, suppose an investment property is purchased jointly for $280,000 and the husband pays $100,000 down as a deposit. Even though he paid for 35 per cent of the property outright, all income and expenses must be declared evenly on their tax returns.

While the above situation would disadvantage the husband if he were in a higher tax bracket initially, over time when the property becomes cash positive it may turn advantageous. This is because 50 per cent of the income will be taxed at the wife’s lower rate.

Another facet of joint tenancy is what happens when one partner dies. In such a case, the property automatically reverts to the full ownership of the other party. So one’s interest in the property cannot be willed to a third party, as in the case of a tenancy in common

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Storage: A Journey Into Space

2011-08-31T09:23:00.000+10:00

Family homes are designed to hold the furniture and possessions that the occupants need and accumulate over time. However, when family possessions become so numerous that they eat up all the available space it’s time to either move into a bigger home or expand the existing one to cope.
• Add a second storey
• Add a room/s
• Add a storage shed

The construction of additional rooms does not always solve the problem of clutter because family members always see the newly created space as potentially having another role – a games room, TV room, visitor’s bedroom etc.

Adding another level usually leads to a reallocation of space and the purchase of even more goods to fill the rooms.

Backyard storage sheds can vary from self-assembled ColorBond cupboards to an architecturally-designed granny flat.

Urban dwellers can find plenty of storage units available for weekly, monthly or annual hire. These can vary from something the size of a clothes cupboard to a double garage. In country areas it is often possible to cheaply rent an unused shed or garage.

In any event, carefully review your possessions before making expensive storage decisions. Why not let us at Professionals Logan Lifestyles look into your space problem because we have the experience and knowledge to suggest possible ideas that will suit your situation.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Supporting A Wonderful Cause

2011-06-10T11:57:00.002+10:00

Professionals cumulative total raised for the National Breast Cancer Foundation is now OVER $1,618,090. www.nbcf.org.au

Do You Need to Furnish Your Property?

2011-06-10T09:14:00.000+10:00

In past times tenants were hard to find and anything extra to attract them was a bonus. But nowadays vacancy rates are at historic low points. So this is hardly necessary for a start.

Even if you do furnish your property, there is every chance the tenants may not find your tastes agreeable. Leaving the property vacant means that your prospective tenants will at least be wealthy enough to have their own furniture. And there won’t be the problem of replacing worn out items.

Yes, you can claim depreciation, but be aware that tired furniture can turn people off as well. So you might end up having to buy new furniture more quickly than anticipated.

There’s every chance, too, that tenants without furniture will also be more transient. This means additional letting costs and loss of rent in the downtimes. Whereas tenants with furniture will at least be motivated by the costs of moving to stay put longer.

The worst news is that the demand for unfurnished properties exceeds that of furnished properties. So why go to all the trouble of outfitting your property in the first place?

There are some exceptions to the above—holiday rentals and serviced apartments. In these cases you’ll want to have a professional manager overseeing the operations.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

How Government Could Expand Home Ownership

2011-06-03T14:01:00.000+10:00

If there’s one thing apparent to all, it’s that home ownership numbers need to be boosted. The rental market is getting crowded, vacancy rates are falling, and the housing market needs a stimulus.

So here is an idea that bears thinking about. Why not allow first home buyers to be investors as well as owner occupiers? In other means, instead of requiring all first home buyers to move straight into their homes for at least the first 12 months, let them take renters on who could assist them with the mortgage?

This would allow young buyers to stay at home, while giving their parents a chance to fund their deposit and not see them under financial duress.

They could rent out their properties and build up enough savings that in 3-5 years time would allow them to take over the property itself and become true owner- occupiers.

They could even keep their tenants and use their first purchase as a stepping stone to secure a second property. This would put an extra accommodation into the national rent pool. Collectively, the first home buyers group would greatly expand and the Federal Government would save itself millions of dollars in housing subsidies in the meantime.

This plan would not only encourage home ownership, but it would also allow parents to participate in securing their offspring’s future.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

Professionals Logan Lifestyles Welcomes Our New Sales Team Members

2011-05-31T10:27:00.005+10:00

Marian Grimsey - Marsden Office
Maryanne Arici - Browns Plains Office
Rusy Rusydi - Springwood Office
Braddy Zakaria - Springwood Office

National Breast Cancer Foundation

2011-05-24T14:18:00.003+10:00

Professionals cumulative total is now OVER $1, 389, 192

How to Make Your Property Secure

2011-05-20T16:45:00.001+10:00

The following are tips to make your property more secure:
* Display the street number at the front of the property to assist emergency services to locate your property.
* Ensure all perimeter fences are in good order and that gates are kept closed and locked.
* Trim trees and shrubs from around doors and windows so as not to provide concealment to intruders and to increase visibility to and from the street.
* Install quality security lights around the perimeter of your home.
* The power board to your home should be housed with a secured metal cabinet.
* All perimeter doors to your home should be of solid construction and fitted with quality dead lock sets.
* All perimeter windows should be secured with key-operated locks to restrict unauthorised access.
* Glass within doors and windows should be reinforced by either adhering a shatter resistant film, replacing with laminated glass or having quality metal security grilles or shutters fitted to restrict unauthorised access.
* Consider having a monitored intruder alarm system installed.
* Garages should be locked to restrict access. Roller tilt and panel lift doors can be secured with additional lock sets in the form of hasp and staple or padlocks.
* Get a pet. A dog can be a deterrent to thieves.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles anytime on 0418 517 525.

How Stamp Duties Distort the Market

2011-05-16T09:29:00.000+10:00

Stamp duties are the bane of the property industry. Not only are they inefficient, but they also make our country over-dependent on property revenue.

Our property taxes (stamp duty and land tax) account for nearly 9 percent of our revenues as opposed to an overseas average of 6 percent.

A major problem with stamp duties on property sales is that they create a “lock-in” effect by discouraging homeowners from moving which dampens market activity. This is particularly harsh on first homebuyers when fewer new properties are being constructed.

There is also an inflationary effect, because every time a homeowner wants to sell, they need to bump up their price just to recover stamp duties.

Because they don’t want to pay stamp duties twice, families will often buy larger homes than required, figuring their families will eventually expand in size. This creates extra financial pressure.

People wanting to upgrade their circumstances, which is natural when one’s income increases, are often discouraged from doing so by stamp duties and have to settle for renovating their existing property.

Worse yet, older people wanting to downsize are likewise prevented from doing so because of the necessity to sell for more money to pay off the stamp duties.

The Federal Government’s own Treasury department found 125 separate federal, state and local taxes a year. Ten of these raised 90 per cent of tax revenue which indicates that the remaining 115 may be inefficient and need to be rationalised.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544.

Single Parents Need Housing Assistance

2011-04-28T13:50:00.000+10:00

Sociology lecturer and author Maggie Walters suggests that single parents should be eligible for assistance just as low income earners receiving rental assistance.

“There’s an awful lot of non-resident parents in housing stress. Separating, when you have children especially, causes hardship and housing hardship for everyone, and it ripples on for years.

“Both parents have poor housing outcomes in comparison to those who don’t separate, or who have not separated yet,” Walters concludes.

In a recent body of research work, Ms. Walters and her co-author analysed 4000 households with parents of children under the age of 18 in 2005, including more than 1000 separated parents.

Interestingly, the study showed a great disparity in home ownership retention. The separated parents maintained a home mortgage in 47-48% of the cases. But for parents who stayed together, that same figure hovered around 81%--a big jump indeed.

“Most people have such big mortgages now that when they separate there seems to be a pattern that both parties are thrown out of home ownership, because even if she gets to keep the equity in the house she won’t be able to afford to pay for the mortgage herself, so the house is sold,” she comments.

To remedy the situation, Ms. Walters suggests that separating parents should be able to get financial assistance to help them maintain home ownership, or to re-enter the market if they are in danger of falling out of home ownership.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544.

Go Green with Insulation

2011-04-01T15:31:00.000+10:00

Government ministers call it “low-hanging fruit”. This is a term designating going green and still not changing your basic habits relative to electricity and gas consumption.

And one such “low-hanging” fruit is insulation. Not only does insulating your home mean you’re less susceptible to winter’s cold. But it also means you’re cooler in the summer heat. It’s one of the less sexier ways to go Green.

What insulation does is save you hundreds of dollars in electric bills, plus it cuts down on peak-load generation of electricity and, most importantly, reduces greenhouse gas emissions. Not bad for doing something so simple and sight unseen.

Yet despite all these benefits, householders are slow to respond with actually taking the step to install insulation. Incredibly, nearly 40 per cent of Australian homes—more than 2.7 million—are not insulated according to the Australian Bureau of Statistics.

Worse yet, instead of seeking the cause of high energy bills, the proportion of homes with air-conditioners rose from 33 per cent in 1994 to 60 per cent in 2005. Ray Thompson of CSR Bradford Insulation calls this a “double whammy”, because it increases both energy inefficiency and greenhouse gases at the same time.

Insulating Australia’s 2.7 million non-insulated homes would cut greenhouse gas emissions by about 90 million tones by 2050, according to the Insulation Council of Australia and New Zealand.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544

Where I Live - Browns Plains (Jimboomba Times Promo Ad)

2011-03-24T12:32:00.001+10:00

Unlock the Hidden Cashflow in Your Investment Property

2011-03-11T12:41:00.001+10:00

There is one particular deduction that time and again goes unnoticed or overlooked—depreciation on the building itself. Yet this deduction can be used to reduce debt and save you interest costs on your investment loan or even be put into expanding your property portfolio. So it’s worth looking into.

In order to prepare the paperwork for this you need to contact a Quantity Surveyor who will assess the property and give your accountant all the relevant details. The assessment, itself, is tax deductible and needs to be done only once, while the deduction goes on for years.

What most people do deduct in the way of depreciation are items they actually replace such as a new hot water service or refrigerator. But, oddly enough, the item with the most value they forget—the building itself.

The capital outlay on an investment property normally has three components: the land, the building and the plant and equipment. Each of these items is treated separately from a depreciation perspective.

The good thing about the building depreciation deduction is that it can be immediately claimed against capital outlay subject to the date of construction. The land value and landscaping, however, do not figure in this calculation and are not depreciable.

You can claim the Building Write Allowance on residential dwellings constructed after 18 July 1985. You can also claim the same for non-residential buildings constructed after 20 July 1982. Talk to your accountant for further details.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544.

Congratulations!!!

2011-02-17T16:25:00.001+10:00

Congratulations to our Marsden office who received the Most Improved Office and the Service Centre Award at the Quarterly Awards held at Victoria Park Golf Club on Wed 16th February.

It’s Important to Properly Vet New Tenants

2011-02-15T10:22:00.002+10:00

The first point of contact are inspections. Our property management department will provide an agent to personally show tenants through your property. This assists us to get a feel for the prospective tenant and there is no substitute for experience.

Then there is the actual filling out of the tenant applications. Once received, our property management personnel do a thorough tenant check. First on the list will be to contact their current agent to research how they treated their last rental property and whether or not they paid their rent on time.

The next step would be to contact their employer to confirm that they actually hold their stated job and to determine if they are reliable and trustworthy employees who earn enough income to pay the property’s monthly rent. Then we contact the referees for character references.

As a double check to the above, we use tenancy databases such as TICA to check for any recorded defaults against the applicants from past tenancies. As licensed real estate agents we have special access to these normally private sources. This gives you extra assurance.

No one can guarantee you against these sorts of problems, but with our careful vetting processes we can least minimise the chances of any losses and maximise the possibilities of acquiring a stable long-term tenant for your property.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495 or Springwood 3808 5544.

Professionals Logan Lifestyles Annual Pink Ribbon Raffle

2010-12-07T10:20:00.004+10:00

Congratulations goes to Sharron Anderson as she won our Pink Book of Vouchers/Gift Cards

A BIG PINK THANK YOU!!

Noel Thompson & the Team at Professionals Logan Lifestyles would like to thank the Logan Community for your support in our 2010 Pink Ribbon Raffle. With your help we raised $390 for the National Breast Cancer Foundation. We would also like to thank the following Logan Businesses for their donations & support:

Browns Plains Self Storage, RAMS Browns Plains, Tony’s Fresh Seafood, Officeworks Browns Plains, Hobby Pitt Stop Browns Plains, The Really Good Book Shop, JW Automotive & Race Solutions, Pandora’s Beauty Therapy & Hair For Me, Professionals Logan Lifestyles, Kmart, Linda’s Lingerie – Bra Specialist, DIGI Roller Skating Rink, Waterford Tax & Accounting Services

Hodgson Lawyers Christmas Party

2010-12-03T15:36:00.009+10:00

A Team from Professionals Logan Lifestyles attended Hodgson Lawyers Christmas Party. We had a great time and a good feed, thank you John & the team at Hodgson Lawyers.

Can you spot the host in the last photo?

Professionals Salesperson's Conference 2010 - Gold Coast

2010-11-12T12:02:00.003+10:00

Pictures below of some of our staff who attended the Salesperson Conference & the social event.

Professionals Logan Lifestyles Presents Our Annual Pink Ribbon Raffle

2010-10-22T11:08:00.007+10:00

Pink Book of Vouchers!!

All Proceeds Go Directly to the National Breast Cancer Foundation

The Awesome Prize You Can Win!!!
$50 Vouchers, $65 Voucher, $100 Voucher, Movie Tickets, RAMS Slippers, Skate Session Passes, Officeworks Pink Pack ($100 value)

Vouchers/Gift Cards Were Generously Donated By The Following Logan Businesses:
Browns Plains Self Storage, RAMS Browns Plains, Tony’s Fresh Seafood, Officeworks Browns Plains, Hobby Pitt Stop Browns Plains, The Really Good Book Shop, JW Automotive & Race Solutions, Pandora’s Beauty Therapy & Hair For Me, Professionals Logan Lifestyles, Kmart, Linda’s Lingerie – Bra Specialist, DIGI Roller Skating Rink, Waterford Tax & Accounting Services

VALUED AT OVER $700
$2 per TICKET or $5 for 3 TICKETS

Thanks in advance for your support from the team at Professionals Logan Lifestyles & the National Breast Cancer Foundation

The Pink Ribbon Raffle will be drawn 4pm Tuesday 30th November at Professionals Logan Lifestyles, Westpoint Shopping Centre, Browns Plains Rd, Browns Plains

More Real Estate Terms

2010-09-16T11:30:00.000+10:00

People constantly ask me about the meanings of words used in a sales contract. So here are some standard definitions.

Deposit: When a contract is entered into the purchaser must pay part of the sale price to the seller at the time of entering into the contract. The balance is then paid following a period of investigation of the property’s legal title. Generally the contract for land will call for a 10 per cent deposit. The deposit can be lost to the seller if the purchaser fails to complete the contract within its terms.

Vendor: The seller of the property.

Private treaty: Private sale of property as opposed to the public sale of property at auction.

Strata (unit) title: A form of title which allows a property allotment to be subdivided vertically or horizontally. An example is a block of home units, where each unit has a separate title and can be sold and owned independently of the other units.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Real Estate Terms

2010-08-23T10:57:00.000+10:00

Investing in real estate requires some fundamental understanding of words used in the industry. Here are some basic definitions.

Mortgage insurance: Insurance which covers the borrower when there is a default in payments to the lender required by the mortgage and there is a shortfall when the property is sold. The premium is paid by the borrower usually as a once-off payment at the commencement of the loan.

Joint tenants: A legal mode of ownership of property by more than one person. Joint tenants own the whole of the property in equal shares. When one joint tenant dies, that share goes to the remaining joint tenants equally.

Tenancy in common: An alternative mode of ownership where more than one person owns the property but this time in set proportions as the title indicates. So the proportions do not have to be equal. Also, if one owner dies that person can will their share to an outside party if they wish.

Easement: A right to do something—such as walk or drive over the land of another. Generally the owner of the encumbered land cannot build over the site of the easement or block the passage.

Equity: The net capital value of an asset free of all loans and debts. For instance, if you own a property valued at $400,000 and it is subject to a loan of $250,000, your equity in the property is $150,000.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Saving Up for a Deposit

2010-08-13T14:17:00.000+10:00

Don’t despair if you haven’t got the money yet for a ten percent deposit. A positive outlook, a budget and a plan will get you over the line.
Professional advice is extremely useful. There’s help out there if you seek it. Traditional means of accruing money include:
• An inheritance. This is a particularly good moment to seek a qualified financial planner for assistance.
• Your family helps with the deposit.
• You marry and your spouse helps with the deposit.
• You study hard and obtain a better-paid job.
• You start your own successful business.
• You systematically save and invest wisely.
Remember all these methods work at least twice as fast if you have a stable, long-term relationship and both parties have the same objectives with enthusiasm.
Most importantly, saving starts with a plan and a budget. Add up your monthly expenses and total that against your income. Where can you trim expenses? Do you need two cars? Maybe cut back on your restaurant outings. Can you save on your phone bills?
Conversely, look at ways to earn extra money. What about working at the weekend markets, taking on casual work or having a garage sale?
Whatever plan you choose, it’s better than no plan at all. And as the savings mount up there is tremendous satisfaction, especially when you saved enough to make that long-anticipated deposit on your new home.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

What Makes an Ideal Location?

2010-07-30T13:49:00.001+10:00

Looking for the right location can be aided by considering the following six attributes.

Proximity: How close is the property to places important to you? This might be schools if you have a family, hospitals if you are older or have a medical condition, major shopping centers, workplaces, parks, water or the like.

Distance: On the other hand, there are places you might wish to be well away from. This might include factories and industrial centres, highways, airports, rail lines, flight paths, rubbish dumps, clubs and pubs, major overhead powerlines and microwave towers.

Services: There are services that can make your life easier that you may wish to be near or have ready access to such as public transport including buses, trains and even ferries. A local train station within walking distance is quite valued by many.

Amenities: These are things that make the property more pleasant to live in. They might include beautiful tree-lined streets, wide boulevards, heritage homes or uniquely designed homes, a cul-de-sac, or fresh and sweet smelling air. If you are so inclined, you may want lots of cafes and restaurants within easy reach, nightclubs and friendly pubs.

Demand: The area is attractive to investors and owner occupants. There is a strong demand to move in.

Potential: The property has potential to be tenanted, renovated or to simply grow in value over time. Maybe a family room can be added, the house can be extended either outwards or upwards, or the dwelling can be divided into two flats.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Upsizing and Downsizing

2010-07-23T15:38:00.001+10:00

The most common reasons for moving your family home are upgrading and downgrading.
The first is when you are considering purchasing
a larger and more expensive property because you’re planning to expand your family. If this is your situation, then you’ll naturally want to be close to schools, shops and parks.

For those choosing to upgrade, the longer you delay doing so the harder it will be to keep the purchase price within your budget. This is because the market climbs over time, so it will get progressively more difficult to find the property of choice and the best locality.

By moving sooner as opposed to later, you can achieve a better buy-in price and get the benefit of capital growth.

Then there is the opposite situation where you are looking to downsize. In this scenario your children may have moved to start their own families and you then want to go to a smaller and less expensive situation.

Now the consideration changes. Here it’s to your advantage to delay buying until the market is in a strong growth phase.

By doing so, you can maximise the capital growth on your current property when you go to sell and minimise the mortgage—if there is one—on your next home or even maximise any left-over funds for your use in retirement.

If you have a question about real estate, or would like assistance in locating or selling a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

More Auction Bidding Tips

2010-07-02T12:03:00.002+10:00

It’s a good idea to arrive early at auctions. By arriving early you have time to review the contract of sale to assure there haven’t been any late changes. You can also position yourself to get a good view of the other bidders. Plus, you can gain more visibility to the auctioneer. You will want to be both seen and heard.

If you lack self-confidence or tend to get over emotional, you might consider getting someone else to take your place as a bidder, for you may not be the best person to do your own bidding.

Whoever ends up doing your bidding should not bet be afraid to bid. There are many ways to go about bidding, but whatever method you choose, make sure it’s one you feel is the most comfortable for you. For example, one strategy is to bid early and big to scare off other bidders. Kind of like making a high bid in a poker game hoping that your rivals may fold. Another strategy is to do the opposite and bid at the last minute in order to have time to assess the tempo and depth of the bidding.

Whatever way you choose, be sure to do so with confidence and without emotion. Displays of emotion reveal your true intentions which may prove detrimental. Try not to let the display of other peoples’ actions and emotions distract you as well.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

CONGRATULATIONS!!!!!

2010-06-28T16:05:00.004+10:00

Professionals Logan Lifestyles Congratulates Gabrielle Crossingham of Regents Park QLD. Gabrielle is the QLD winner in the Professionals 'Follow Me' Campaign - she won herself this awesome scooter!!!

What are the Traits of Successful Investors?

2010-06-28T16:02:00.001+10:00

A recent article by a well-known property guru listed 10 traits of successful property investors he had known. Here is a summary.

People who have large, profitable property portfolios take full responsibility for their lives. They don’t blame others or conditions.

Successful investors don’t believe in luck. Their decisions are their own.

Once they decide, they stand by their decision. They don’t continue questioning it. They simply deal with problems as they arise.

Change doesn’t bother them. They see change as an opportunity. They never stay in a comfort zone. Otherwise they can be moving backwards.

They find investment opportunities where others see only problems. They can solve property problems, thereby adding value and making money.

Successful investors always invest. They don’t speculate. All decisions are based on facts. They tend to look for long-standing trends. They do not search for “hot spots” or fast turnover. They’re in property for the long run.

Very successful investors always build a team around themselves.

They use debt with discretion, but are not afraid of taking on debt.

Successful people tend to associate with other successful people.

They act with integrity following through on their decisions.

And, finally, they think differently than the average investor. They always keep the bigger picture in mind without getting bogged down in details.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Thank you to those who contributed to such a successful 25th Anniversary last week.

2010-05-11T13:06:00.006+10:00

Special thanks goes to 101FM for their live broadcast on the day and to Paddy's Meat Market & IGA Regents Park for their wonderful donation to our auction for the NBCF.

Special mention to David Tipoki from our Marsden office for writing and performing live our Location, Location song (Logan Lifestyles song) he did an excellent job.

It was such a wonderful and exciting day for us and we are very pleased that we were able to share this day with so many people, we thank everyone that attended our celebration.

Here's to another 25 years.

How to Profit from Renovation

2010-05-07T16:21:00.000+10:00

“No matter how depressed the market might be, you’ll never lose money on a good renovation unless you’ve been foolish,” claims architect Belinda Scott.

It may take longer to turn over your renovated property in a sluggish market, but an astute purchase and careful planning can virtually eliminate the risk of overcapitalising. There has always been an appreciation for quality, well-executed renovations.

One experienced agent comments: “Adding value over a long period of time will always add capital growth. Look at features like new bathrooms and kitchens, open-plan living, creating a flow between indoors and out, and even adding a second storey, especially if it will give you a view as well as more space.”

Regardless of whether it is your home or an investment property, there is the necessity to do your research before buying and to make sure your plans, budget and reality all fit together. It is a good idea to get a builder or architect in before you buy to get an approximation of what is possible as well as cost estimates to safeguard against nasty surprises.

One thing to look out for is new planning rules or heritage restrictions. You should always run your ideas by council first. For example, just because a neighbour put in a second storey doesn’t automatically make it possible for you to do the same. Regulations change and what was possible a few years ago may not be possible today.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Appraised By The Pros

2010-05-07T14:56:00.005+10:00

http://www.myprofessionals.info/

Week 3 Winner: J. Drinnan. Appraised by Jayson Ryder of Professionals Melton.
Week 2 Winner: C. Annetts. Appraised by Mick Collins of Professionals Casula.
Week 1 Winner: S. Short. Appraised by James Gazdagh of Professionals Goodna.

What Drives a Successful Auction?

2010-04-22T11:49:00.001+10:00

A good real estate agent understands the markets and locations they work in. So they know what a property is worth and how to maximise the price. But every so often a property takes everyone by surprise. Why?

There are properties out there with an X factor—ones where auction frenzy drives up the price. And they can pop up anywhere and in any price bracket. But one thing has to happen—two parties have to want the property and be willing to bid it up.

Essentially, there has to be someone willing to pay for the property and someone else willing to push up the price.

Most agents agree that the primary criterion is supply and demand. But while the market is slower, there will always be potential buyers, wealthy developers or families looking to upsize.

People have different needs and often it’s not easy to fill them all. So when a property comes along that ticks all the boxes, it’s worth bidding for. Buyers who have the money and want it, will keep bidding.

What exactly motivates the buyer can be as varied as the properties themselves. Many a buyer will pursue their “dream home”, while developers can see a profit down the line and force up the price.

As agents with experience in the area, we tend to be able to spot the properties that have unique appeal and are suitable for auctioning.
So if you are thinking of selling or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Spot the Professionals at the 101FM Live & Local Expo

2010-04-19T09:21:00.002+10:00

Such a popular event. We have to direct you to left of screen ---- our Open Flag!!!! We were certainly in good company with over 100 exhibitors and circa 6,000 visitors - Good one llr team!

A Vendor Checklist for Auctions

2010-04-19T09:16:00.000+10:00

You can improve your chances for a successful auction if you lay the proper groundwork first. Here are some suggestions.

Find an agent you’re comfortable with before the main selling season begins and engage the auctioneer. Then work out an auction date early in the piece specifying the time of day you want the auction to take place—ideally between 11am and 3pm.

By having the auction date early in the selling season you insure that should the auction fail, you will still have plenty of time for it to be listed for a subsequent private sale.

Most people overlook the fact that you can leave an auction too late by running it in mid-November or the first week of December. This is because if it passes in you will need three or four weeks to sell and this then clashes with the Christmas season. Everything shuts down, buyers go on vacation, school lets out and so forth.

There is also the matter of having your agent look at the property and advising you on what work you can do to get your presentation in top condition. While major renovations like installing a deck for entertaining are good, it’s critical to speak to a professional builder first to make sure the job can be completed in time for the selling season.

Don’t forget, when the market heats up there will be a strong demand for renovations and it could be months before your renovation is finished.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Should You Buy Before Selling?

2010-04-08T16:26:00.000+10:00

Many take a calculated risk, knowing they can afford it if their property doesn’t sell for a while. One vendor, for example, bought a house with great views near his one-bedroom, top-floor apartment. “I knew,” he commented, “that if the apartment doesn’t sell straight away, we could rent out the house for two or three years to cover the mortgage.”

Another vendor who was a conveyancer describes her experience: “The price for the other property was cheaper than it would have been in an active market and we thought it was worth grabbing. We are selling for a cheaper price too, but if we don’t sell, I made sure I had finance in place so we could still afford it.”

The key in both these two examples is that the sellers were managing their risks.

“You always want to make sure you’re not in a position where you have to take bridging finance, says financial planner Andrew Bowring. “That can cost you an enormous amount of money.”

The safest bet is provided by Steve Martin, a real estate association president: “It’s always a good recommendation to sell first, to know exactly how much you have to spend, and buy later. It’s always easier to buy than to sell, especially when you don’t know how much you have to spend. With properties now sitting on the market much longer before they sell, the risk factor is so much greater and a more conservative approach is required.”

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Defensive Property Strategies

2010-04-06T09:45:00.000+10:00

Being able to scout out good property deals and purchase them is definitely a talent. But don’t forget to cover your bases with a good defensive strategy as well.

This is what I mean by defensive property strategies—making sure that you never have to sell your property regardless of market conditions and your personal situation.

What this does is puts you into the advantageous situation of being able to hold a property for the long term. As properties always go up over the long term, you are then taking out insurance against any loses.

So what can you do to boost your defenses? Here are 3 tips:
* Be willing to be disciplined in your expenditures over the long term. Follow strict financial rules.
* Select investment properties that have proven track records of increasing in value over long periods of time. It is not necessary to have extraordinary growth in the short term. Focus on the long term.
* Manage your own budget so you have sufficient funds to cover any necessary property expenses and to avoid lenders recalling their loans during bad times.

The good thing about a good defensive strategy is that it will put you in good stead to take advantage of the opportunities that arise during the good times. The reason for this is that your property will rise in value and you will be in good financial condition.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Professionals Logan Lifestyles Attended the 101FM Live & Local Expo

2010-04-01T15:57:00.004+10:00

Thanks to everyone that attended the 101FM Live & Local Expo last week!!! We created the biggest event of its kind in Logan City :) Visitors totalled over 6000! Brilliant effort

101fm Live & Local Expo - March 2010

2010-03-19T12:52:00.003+10:00

Professionals Logan Lifestyles is attending the 101fm Live & Local Expo at the Logan Metro Indoor Sports Centre. The expo is designed to showcase Logan businesses in a forum where exhibitors can connect with other businesses and the wider Logan community whilst featuring their goods and services.

On Saturday 20th the doors will be open to the general public to visit the expo to learn more about our local businesses.

Ken Smith, from our Springwood office, shaved for a cure by auctioning his own head and raised $1,200!! Great effort Ken, all for a good cause.

Logan Metro Indoor Sports Centre: 357 Browns Plains Rd, Crestmead.

Patron's Awards - NBCF

2010-03-02T12:26:00.002+10:00

Each year the NBCF recognises individuals in the community and those in the corporate sector who have made an outstanding contribution to supporting breast cancer research. Patron Sarah Murdoch presented the following awards to the Professionals:

*Award for the Corporate Commitment

*Pink Circle Award
(NBCF formed the Pink Circle to acknowledge those companies and individuals whose investment in breast cancer research has exceeded $1 million)

Professionals Road Light Boxes

2010-03-02T10:16:00.002+10:00

Keep an eye out for the LIGHTBOXES in Browns Plains & Marsden!!! They'll be telling a new story shortly........ The PROFESSIONALS STAR IS RISING :)

Getting Started in Subdivision

2010-02-18T17:26:00.000+10:00

Subdivision is a great way to wealth creation. So how do you get started?

Property investor Rod McShane suggests: “The smaller the subdivision, generally the less risk. A house on a large block suitable for two dwellings may be the ideal first time subdivision.

“Consideration then has to be given as to whether you’re building a second dwelling to keep the property long term or to sell it off and place the money back into debt reduction of an existing mortgage.”

Many property commentators recommend developing a property to create positive cash flow to assist in reducing debt on existing loans or even purchasing further property for your portfolio.

One investor, Martin Ayles, discovered property development by accident. He had been renovating and selling for many years when an opportunity arose for him to subdivide an allotment with an existing house.

When a profit resulted, he realised what he’d been overlooking and has been hooked on subdividing ever since.

“Subdivision is an extremely powerful method of dividing to multiply your profits, however, if you sell everything, money’s easily spent. I recommend a ratio of about five to one, so for every five that you build, retain a minimum of one,” he advises.

“I’d also suggest trying to get the properties generating cash flow rather than having them negatively geared.” That way you could develop five properties and keep one to pay your profits into, reducing debt down so the weekly rent could more than cover the mortgage.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

New Business At Waterford Village Shops

2010-02-18T17:23:00.002+10:00

We now have a Chinese food shop in residence - MY Noodle Bar.
They are situated in the same centre as our Professionals Marsden office - Shop 7, 42 - 48 Bourke St, Waterford Village.
We also provided accommodation for the shop manager in one of our rentals - great synergy.

Is Subdivision the Wave of the Future?

2010-02-15T09:47:00.001+10:00

Nationwide State Governments have been considering blueprints for future urban growth within their capital cities, suburbs and country towns. The reasons include not only population growth but also a predicted increase in numbers of the aged and single person households.

One person championing this type of planning is Harley Dale of the Housing Industry Association. He views property development as “a topical thing to be looking at, in the sense that you would expect subdivisions are going to become more prevalent in the future and it’s an aspect of housing that’s going to increase over time.”

“The two primary reasons for that are what’s going on with growth boundaries in cities and density requirements for housing.” In many areas now you have “significant land constraints, which in turn will channel more people down the route of subdividing in terms of property investment,” Dale adds.

He continues saying: “We’re probably going to see this as a more viable investment option, simply because there’s been a massive increase in the price of land in recent times. This has been particularly occurring on the fringes of capital cities.” This trend could direct people’s thinking more towards subdivision as opposed to developing a new block.

He concludes: “People looking to invest in property are going to see an incentive there to supply the market, but within constraints that might promote more subdividing than we’ve seen in previous cycles.”

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Property Seminar

2010-02-12T11:13:00.007+10:00

* INVESTORS
* FIRST HOME OWNERS
* How to qualify for $$$...
* RE FINANCING

Westpac Business Banking Centre
Level 2, 3950-3952 Pacific Highway
LOGANHOLME QLD 4129
6pm sharp Tuesday March 23rd 2010

LIMITED PLACES AVAILABLE: Please confirm your attendance at Westpac Logan Central or any Professionals Logan Lifestyles office

How to Attract a Long-term Tenant

2010-02-12T11:11:00.002+10:00

If you own an investment rental property and want a long-term tenant, then you have to put yourselves in their shoes. Tenants are like owner occupiers. While struggling to match the current rental prices, they expect value for their money. So you need to offer appropriate benefits.
Here’s a list of tenant desirables:
* A clean, tidy and well-maintained property. The tenant needs to feel that the landlord will attend to any repairs or maintenance issues and is willing to spend money on their investment property.
* A good location. Just like owner-occupiers, tenants seek closeness to essential services to meet their lifestyle choices. Nearby shops, schools, transport and leisure facilities all count and are highly sought after.
* Storage space. Tenants like plenty of storage and cupboard space. Everyone has personal items and plenty of possessions that need a space. This includes a safe place to park the car!
* Little luxuries. Tenants all look for dishwashers, air conditioning and good heating. These appliances are at the top of their list.
* New renovations. Tenants like fresh paint and new carpeting. They also like a fresh, airy feeling with plenty of light and will pay that little extra to feel comfortable.

These amenities can separate your property from a similar one in the area. Hence, it will have broader tenant appeal and can command a higher price than
similar properties lacking these attributes.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Building Inspections Bring Peace of Mind

2010-02-01T13:34:00.000+10:00

Buying a property is often very emotional. You see something you like and the impulse is to buy it. But it’s what you don’t see that necessitates a building and pest inspection before buying.

Getting a building inspection done lets you know that the property is structurally sound. It also tells you about rising damp in the walls and if the wiring is up to standard. It will also tell you the condition of the roof. All these things are not normally known upon one’s own visual inspection.

Even new properties and renovated ones need inspecting.

Peter Georgiev, an architect who inspects for Archicentre, delineates the three most common types of inspections.

“There’s the investor who wants to have some knowledge that the property is not going to cost them a fortune….Then there’s the purchaser who is looking at something to renovate and they really want a position statement as to whether the property has reasonable bones for renovation…and there are those people who think they’ve got a property that they can move straight into and they want an assurance that the place is not going to cost them a lot of money in the short term,” he comments.

“Having a property inspection done is a small price to pay for the peace of mind it brings”

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733

The Importance of Marketing

2010-01-25T09:39:00.000+10:00

To be in step with the market you need to do your research. The way to do this is to review other listings, prices, and how long properties are on the market. This gives you a good feel for the market and its strengths and weaknesses.

By doing your own research you can avoid the hearsay of others who see people flocking to an open inspection and forming wrong opinions. Don’t make the mistake of selling based on what you think your property is worth or what you want it to be worth. Instead, go by the market.

By finding the right price you will at the same time find the right buyers. It makes no sense to overprice, because you’ll only disappoint viewers and lose valuable time. In the end you could end up selling for less than what you could have sold for in the beginning with the right price in the first place.

With the importance of presentation you might even consider hiring a stylist, someone who specialises in preparing properties for sale. They can assist you with refurnishing, landscape gardening, renovations and de-cluttering. All very important aspects of getting the most of your sale.

Another approach to presentation is to attack the 5 senses—sight (visual presentation), sound, smell, touch and taste. An example might mean having an immaculate and spacious feel with plenty of light, some floral arrangements, cookies in the oven and soft furnishings.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Sellers Need to be Attentive to the Market

2010-01-18T16:06:00.000+10:00

In a tougher selling environment, it doesn’t pay to be overly optimistic when setting a sales price. Someone with a home worth $450,000-500,000 should not let themselves be talked into setting a price of $600,000 on their property. This can only lead to disillusionment and a loss of money.

Not only will you be paying additional advertising costs as well as extra payments on your mortgage, but you will also usually find that you will have to lower your price further than the $450,000-$500,000 mark, because buyers will assume something is wrong with the listing. Plus, the market may have moved south since you first listed.

One thing for sure, it’s best to listen to your chosen agent and to trust their judgment regarding what the market is willing to pay. If you don’t trust your agent, then find someone else, but if you do, then follow his or her advice.

If your agent advises you that an offer is a good one, then take it. Remember, too, if two similar offers come in at the same time, then chances are that’s where the market is.

Fortunately, because the whole market is soft, you have the luxury of taking your time buying and can expect a similar discount when purchasing. So, in the end, you break even.

It’s also best to first sell your own home before purchasing another to avoid expensive bridge financing.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Browns Plains Office Gets Renovated

2010-01-15T13:38:00.010+10:00

Our tired old Browns Plains office got a much deserved renovation over Christmas & New Years 2009/2010. Professionals Logan Lifestyle sends a special thanks to all that were involved :)

Have Fun With A Splash!!

2009-12-22T11:09:00.001+10:00

The time is upon us when it is considered normal to get up on your holidays and roll straight out of bed and into the pool, please remember that some of us cant swim and the need for secure pool fences is a must during summer. Make an extra effort to make sure kids are not left alone in the pool and that there are the proper signs in the pool area with emergency CPR information.

Happy Birthday Elene!!

2009-12-21T16:01:00.006+10:00

We would like to wish Elene Shorter, one of our wonderful property managers, a very Happy Birthday!!!

Watch Every Drop!!

2009-12-21T10:26:00.001+10:00

As we all know we are having very dry conditions this Christmas with “the chance” of rain.. Remember that before you light up your open fire that you check with the local SES or fire station to see what the fire conditions are like. Also please remember that you are allowed to water your lawn or wash your car but only between the hours of 4pm and 10am. If you are unsure about this or you have any questions please contact the Logan City Council.

New Slogan!!

2009-12-18T16:32:00.001+10:00

This summer is it cool to slip, slop, slap and WRAP!!! Slip on a shirt, slap on a hat, slop on some 30+ sunscreen and wrap some UV protective sunnies around your eyes, be sun smart this summer … Remember is it not cool to have a melanoma..
Mark Sutton from our Browns Plains office is showing how to slip, slop, slap but remember to wear your sunnies.

Christmas Lights Tour

2009-12-18T09:30:00.002+10:00

The council’s free Christmas lights tour may be over, but bundle the family into the car and make your own!!! The Albert and Logan News have listed all the entrants for the 2009 McDonald’s Christmas Lights Competition. The entrants all listed on page 37 of The Albert and Logan News Friday December 18th Edition have the address so you can take the family and have a great time looking at the lights. The entrants welcome people to come past and have a look!!

Professionals Follow Me Campaign

2009-12-16T16:17:00.005+10:00

Head in to one of our four offices today to receive your free copies of Professionals Pathway magazines. Pathway magazines cover all aspects of property from buying to selling, moving, preparing to sell, and managing an investment property. There are 5 to collect so don’t miss out!

Can’t get to our offices? Visit www.bestvaluebrand.com.au/pathways to view the Pathway magazines in electronic format. Free, reusable and easy to use.

Plus if you leave your email address with your local office, or complete the form at www.bestvaluebrand.com.au/pathways, you can go into the draw to win a Piaggio XEVO 250cc scooter.

Free property magazines and a chance to win a neat ride – visit Professionals Logan Lifestyles today.

Browns Plains Office Enjoying Christmas

2009-12-14T16:39:00.002+10:00

Once again Mark Sutton from our Browns Plains Office has showed some Christmas spirit by decorating the office so that everyone who walks in gets a bit of Christmas joy into their day.

Selling Tips in a Buyer’s Market (Part Two)

2009-12-14T16:37:00.000+10:00

In a buyer’s market it’s extra important to assure that your asking price actually reflects your property’s current value. By pitching your property too high, you miss out on the initial wave of interest. Then, when you drop your price, people think there’s something wrong or that you’re getting desperate.

Plus, by being more realistic, you also can limit your marketing expenses since your selling campaign is likely to be shorter in duration.

The method of sale may also be affected. Auctions tend to work better in heated markets, since the marketing campaign will be shorter and intense competition drives the price higher. When there are less buyers around, your auction campaign will stretch out from a few weeks to six to eight. So it may be better to advertise as a private sale with a set asking price. This allows you to spread out your marketing dollars over a longer period. And, you can then deal with buyers on an individual basis.

But, most important of all, is to remember that while you may be selling into a buyer’s market, if you’re re-purchasing you’re also going to get similar reductions. So, in the end, you are not disadvantaged at all. And, if you’re trading up, you may even be advantaged, because the discounts will exceed your discount.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Selling Tips in a Buyer’s Market

2009-12-07T10:33:00.000+10:00

With the credit crunch biting into the property market, sellers have to adjust their tactics to sell. In slower markets supply outweighs demand, so conditions differ from times when property booms are occurring.

Firstly, do not shy away from advertising. In periods like this you have to actively seek buyers as opposed to waiting for them to come to you. Those who more heavily promote themselves in tougher periods will get more bang for their dollars, because other sellers tend to cut their ad budgets. So your ads will stand out.

The next thing is to be more flexible with your inspection hours. It’s necessary to have open-for-inspections, but with a more limited market you also need to make your property available for private appointments as well. This way you’ll attract more buyers by offering times that suit their schedules.

In buyers’ markets, prospective purchasers can be more fussy than normal because they tend to have the upper hand. So it’s good to cater to this sentiment remembering that lifestyle considerations and emotions also kick in. Thus, you need to present your property in the best possible light. That means keeping the garden looking topnotch, possibly adding more plants, replacing worn carpets and keeping the kitchen and bathrooms sparkling clean.

Things to particularly look out for are that there’s no cigarette odour, mould or pets.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

How to Attract the Ideal Tenant

2009-11-30T15:12:00.000+10:00

Most people looking to rent first look for a property in a great position. For tenants, that would mean a good aspect, close amenities, nearness to work, etc.

The next thing is a property with plenty of storage and a garage.

Following this is a property that’s clean and in good repair with a sympathetic property manager that listens to a tenant’s needs and forwards requests to the landlord. Every tenant wants a landlord that will maintain the property.

Another desire is for privacy, a reasonable rent and fair rent increases.

If a tenant encounters these things, then their next wish is to achieve a long-term tenancy. This translates into a property that will not be put onto the market for sale.

Even with the current shortage of rental properties, the best tenants always seem to have a choice of renting the properties they prefer, simply because property managers feel most comfortable recommending such clients to their landlords.

So if you are an investor who wants good, long-term tenants, then consider providing your tenant with what they want.

The key to the above is to invest in the right type of property in the right location. If you buy where there will always be strong demand fulfilling the above criteria, you will be the most likely to attract the ideal tenant.

If you have a property for rent and would like it to be professionally managed, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

The Difference between Median and Average Pricing

2009-11-24T11:44:00.000+10:00

Real estate data can be quite daunting at times, but to make intelligent investment decisions, it pays to get a grasp of the numbers.

One misunderstood but often quoted statistic is the “median price”. You find it everywhere when housing values are discussed. The method of compilation involves sorting the prices for all the houses or apartments sold in a particular period, from highest to lowest, and then selecting the middle one as an indication of the characteristic price for the area.

But the median price is not the same as the average price. They are two different calculations. If seven properties sold for $180,000, $200,000, $205,000, $215,000, $230,000, $310,000, and $2,500,000 then the median price would be $215,000 and the average price $548,571. That’s quite a difference!

“Averaging produces a figure that isn’t necessarily an accurate representation of what’s going on because it only takes one or two very high or low sales to skew the result,” points out Enzo Raimondo, head of the REIV. “It’s also important to remember that a median price is based only on the properties that have been sold, not all the property that exists in the area.”

The median price of an area should not be used to assess the relative value of a property. Individual streets, for example, can have large variations from the surrounding neighbourhood.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Be Decisive When Selling

2009-11-16T10:11:00.002+10:00

Selling a property is like running a business. You need to be decisive.

You are either in the market or you are out. Nothing will happen if you’re half-hearted in your attempt to sell.

Everyone has their reasons for selling. Know what your goals are and your timeline for accomplishing them. Make your agent your business partner. Advise him/her of your plans at the beginning of the sales process. This will help determine how you market the property and will even help shape the final terms of your sales contract.

Keeping your intentions secret from your agent will hinder their success rate. Sellers often get cold feet at the tail end of negotiations and the sale falls through. Don’t let this happen to you. You’ll only lose money and waste your time and theirs.

To help you be decisive it is a good idea to get an appraisal from a couple of local agents) second last paragraph. This will tell you the true state of the market in your locality. You can’t afford to be over-optimistic. You’ll set your price too high and it will sit on the market longer than necessary. In the end, it will sell for less than if you started at the right price.

Give your agent time as well to create interest in your property, and be prepared to listen to what the market is telling you.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

How to Make An Offer

2009-11-06T15:21:00.000+10:00

Making an offer on a property is a real art. How do you know if you are too high or too low? The first thing is to do your research to find out what the property is really worth.

Once you have determined the worth of the property, what then? In private treaty sales you first have to look at the vendor’s advertised price. You know that this is what they hope to achieve if everything works out for the best.

So now you have to decide on a first-offer price. Is there a rule of thumb on first offers? No. You can offer a ten-percent-discounted offer or even less, but always be leery of offending the buyer or their selling agent. Offending them is not a good idea, because they can walk away from the deal or get hardened in their stance.

So only offer a substantially lower offer if you really believe the property is worth substantially less.

Generally, it’s a good idea not to put your best offer first. There might be exceptions to even this rule if you’re trying to achieve a knock-out blow early on your competition, but, in general, if your offer is reasonable, you may get knocked back, but you can still make a counter offer.

The disadvantage of putting your best offer first is that you can feed the vendor’s expectations which, in turn, might encourage them to hold out for a better offer.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

The 3 Keys To A Sale

2009-11-06T15:10:00.001+10:00

Real estate agents generally agree that the three most important elements behind a successful sale are smart marketing, presentation and a realistic price. When the market is slow these pointers are even more important. Paying attention to the three keys will maximise your chances of getting the best price for your property.

It’s good to keep in mind that even when prices are down, there are always cashed up buyers looking for a bargain or to upgrade.

Another trend is the increasing savvy of buyers, probably due to the increasing use of the Internet.

The main complaint of agents is that too many homeowners still want 2007 prices for their homes and are failing to put enough energy and attention into presentation and marketing. Instead, vendors should be looking to make their properties sparkle.

No one knows whether the current activity is a sign of a genuine recovery, but agents seem to agree that there are cashed up buyers looking. The challenge seems to be getting enough listings to attract them back into the market.

Presentation is certainly key. It should be 100 per cent with photos being the best possible. Only shoot in good weather.

With marketing, nominate a price. Buyers like to know a price. Then be proactive with showing your property. Show before hours, after hours and maybe twice on the weekend.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

What does Subdivision Mean?

2009-10-16T12:18:00.000+10:00

Unlike passive investment where you purchase a home, rent it out and wait for it’s capital value to increase over time, subdivision requires your active involvement. This type of investment has lots of financial upside but requires you to roll up your sleeves.

One form of subdivision is to purchase a raw parcel of land to form a large housing estate. Another version is to build on an existing property with a second dwelling. Examples are duplexes and dual occupancy properties.

Subdividing can also include creating an entire new block of townhouses or units. This is usually in medium-density areas on land allotted for that purpose by a council encouraging residential development.

Then there is the possibility of purchasing an existing apartment block to separate or strata the title. This way you can sell single units within the complex.

Steve McKnight, a property investor and author, wrote about a successful purchase he was involved in which illustrates the idea of subdividing. “We bought eight previously strata-titled dwellings as an entire package deal and we’re just going to sell them off individually.

“We haven’t had to do any of the development work, it’s all been done for us. But we had the advantage to buy wholesale in terms of purchasing all eight units and then selling retail, by selling them off one at a time.”

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

Getting Ready For A Spring Sale

2009-10-07T16:42:00.001+10:00

It could be said that the early bird gets the worm, but putting up your property for sale in September or thereabouts could make sense. Consider that more properties are for sale from September to the first week of December than at any other time of the year.

In fact, there are proportionately more buyers than sellers in early spring, so your chances of achieving a higher price are better.

When selling it’s also a good idea to scope out the market for comparable properties to yours, comparing apples to apples. If you have a 3 bedroom unit, for example, look and see what other 3 bedroom units on the street are selling for. Don’t look at 3 bedroom houses.

Regarding whether to auction or sell by private treaty, it depends on the house and the area. If your property has unique features that would attract plenty of buyers, then auctions can achieve a competitive atmosphere.

If you’re in a new housing development, on the other hand, where there’s other similar properties auctions are less successful.

Finally, first impressions are so important when a sell sign goes up. So put attention on your garden. Simply pruning larger shrubs and trees, for example, can make the garden appear larger.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Waterford 3299 7733, Browns Plains 3800 4000 or Springwood 3808 5544

Three More Years of Rental Increases Predicted

2009-09-21T10:05:00.000+10:00

The Real Estate Institute of Australia (REIA) has recently published nationwide data indicating that rents have increased by 25 % over the last 3 years.

The cause of rising rentals has to do with the lack of new home construction and cautious investors continuing to put off building more investment properties.

According to property commentator Michael Matusik, rents will continue increasing over the next 3 years. Matusik’s research shows that 25% of the average renter’s income went into paying their rent in 2004. Today that figure has advanced to 26% of their income.

There is no doubt that some renters are doing it tough, but the report suggests that, generally speaking, renters can afford the increases.

The most recent figures of the REIA indicate a vacancy rate in all capital cities averaging 1.9% for the September quarter. Noel Dyett, president of the Institute comments that a vacancy rate below 3% is regarded as undersupply.

To gain perspective on these figures, one need only look at the REIA’s figures for the average vacancy rate around Australia for the past twenty years. That figure is 3.6%. The 1.9% current figure has been in effect since March 2005.

However, if rentals are set with unrealistic expectations, properties will sit longer on the market, costing the owners precious lost rental income. Generally speaking, it’s not worth the effort to try and recoup an extra $10 or $15 per week when you figure the costs of a week or two’s vacancy.

If you have a question about real estate, or would like assistance with property management, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Waterford 3299 7733, Browns Plains 3800 4000 or Springwood 3808 5544

PROFESSIONALS AGENT WINS TOP AWARDS

2009-05-21T12:38:00.009+10:00

Professionals Logan Lifestyles would like to congratulate their Browns Plains office.

Winning top listing & settled sales office at the Queensland Quartly Awards Ceremony on the 13 May 2009.

Congratulations also goes out to Gayle Thompson for taking out the 4 Million Dollar Award, Top 10% Salesperson Award (sides), Top 10% Salesperson Award (brokerage).

Mark Sutton for his Top 10% Salesperson Award (sides).

Sarah Bey, Office Administrator, for her Shining Star Award.

BUYING AT AUCTION

2009-05-07T15:32:00.003+10:00

On the actual day of the auction you should arrive with plenty of time to spare in order to make one last inspection of the property. In doing so you will have time to check the contract of sale, the vendor's statement and the auction rules.

If you have any questions about how the particular auction will work, be sure and get clarifications from the agent representing the buyer. One key principle in the whole action affair is that if property is passed in below the reserve (minimum asking price of the vendor) then the owner through the agent or the auctioneer will first negotiate with whom ever is the highest bidder on the day.

So if you are attending the auction and are interested in bidding for the property and you hear the auctioneer announce the property is going to be passed in, then it is a good idea to position yourself so that you are the highest bidder. That way you get first crack at the negotiating table afterwards. You need to do this before the property is actually passed in, because once that occurs it's too late to bid.

No auctioneer can reopen the auction to accommodate a late bid and override someone else's position as highest bidder.

Once the after auction negotiations open up, you either accept the owner's asking price or the owner has the right to end the negotiations then and there to start negotiating with yet another buyer.

If you have a question about real estate or would like assistance in locating a property feel free to phone me.

Noel Thompson, Principal Professionals Logan Lifestyles.

Waterford 3299 7733 Browns Plains 3800 4000 Springwood 3808 5544

http://www.llr.com.au

BUDGET FOR EXTRA COSTS WHEN PURCHASING A HOME

2009-04-14T14:41:00.004+10:00

When purchasing a home be sure to account for all the costs beyond the purchase price itself.

HERE IS A SUMMARY:

Stamp duty: This is a compulsory tax charged on any exchange of property at the time of purchase
Legal fees: Generally a conveyancing firm or solicitor will need to be hired to analyse and oversee all documents. A title search is always needed to assure outright ownership and that there are no legal encumbrances.
Building & pest inspections: Necessary inspections to identify all potential defects in the building(s) involved as well as in the invironment and to look for termites and other pests.
Council and water rates:
Mortgage insurance: This may or may not be applicable depending on the funding source and their requirements.
Home & contents insurance expenses: Generally you will want to be fully covered for fire, damages and theft.
Moving expenses: This covers the removalist fees.
Disconnection & re-connection of utility services: This includes telephone, electricity, gas & internet connections.
Strata levies when moving into a strata unit: These are quarterly assessments for property maintenance and leisure services.

There are concessions available for First Home Buyers on some of the above. A $14,000 grant is offered throught state governments to counter the effects of the GST on home purchases. Plus, there concessions for stamp duty.

If you have a question about real estate or would like assistance in locating a property feel free to phone me.

Noel Thompson, Principal, Professionals Logan Lifestyles

Waterford: PH 3299 7733 Browns Plains: PH 3800 4000 Springwood: PH 3808 5544

http://www.llr.com.au

HOW TO SUBMIT AN OFFER

2009-04-07T15:10:00.003+10:00

A real estate agent must present all reasonable offers to the owner. The agent cannot pick and choose amongst the offers favouring one particular buyer.

Just because a vendor has your offer and is giving it serious consideration does not mean other offers are not coming in simultaneously. Unfortunately for the buyer this means that someone else can top your offer in the interim.

One move to counteract these factors is to make your offer with a date of expiration. This could vastly aid your cause, because it gives a sense of the imperative and forces the vendor to make a decision.

When making an offer you can also make it subject to various conditions. This favours the buyer, but, remember the more conditions you place on the sale, the less chances you have of your offer being accepted.

Most importantly, offers are not legally binding until both the buyer and the seller have signed a contract note (or contract of sale) and they have been notified that the other party has accepted the offer.

The contract must contain details of the property. This should always be double-checked and include price, deposit and settlement.

While the seller is not under any obligation to accept your offer, it still remains the case that a written, unconditional offer with a deposit cheque attached can be very persuasive in helping secure the purchase.

If I can be of any assistance feel free to contact me.

Noel Thompson, Principal, Professionals Logan Lifestyles

Waterford 3299 7733, Browns Plains 3800 4000, Springwood 3808 5544

www.llr.com.au

TIPS FOR BUYING THE RIGHT PROPERTY

2009-04-07T14:45:00.002+10:00

A simple rule of thumb for investors is that you most often make your profits when you purchase the property, so buying at the right price becomes paramount. By focusing your research and time on a particular geographic locality you can develop an "investment comfort zone".

The first thing to do is to choose a geographic locality in which to concentrate your study of the market. You might choose an area of high capital growth, or maybe just your own neighbourhood. The best places for investment have good rents, low vacancy rates and are popular to live.

You will also want to choose an area you can afford to invest in. No point in looking at areas in which you cannot afford to buy.

Now that you have chosen your area the next thing is to develop your expertise in that same locale. Study price ranges, rental market data including vacancy factors, plans for potential infrastructure additions, planned developments, employment statistics and trends, school locations, transport, and local council matters. The latter includes town planning and zoning rules and regulations.

The next step is to acquire investment skills such as negotiating techniques, knowledge of finance, tax laws, and risk minimisation. All this will aid building an investment portfolio.

Finally is the ability to act when the right property arises, because with all the above, bargains will start to stand out to you.

If you have a question about real estate or would like assistance in locating a property, feel free to phone me.

Noel Thompson, Principal, Professionals Logan Lifestyles

Waterford 3299 7733 Browns Plains 3800 4000 Springwood 3808 5544

http://www.llr.com.au

SELLING POINTERS

2009-03-26T16:02:00.003+10:00

If you are planning to sell a property, here are some useful tips.

Be sure to promote your property. Make sure you invest sufficient funds to allow your agent to do their job properly. Keeping your property a secret will hinder your chances of success.

Plan to use your funds to promote your property. Do not rely on agent-paid advertising. Skimping on advertising monies may come back to haunt you in the form of a lower selling price.

Let your agent tell you the best mix of newspaper, proper signage, internet, window cards, open inspections etc. A co-ordinated mix of strategies works best and your agent has all the experience of their other properties.

Maintain flexibility. Do not stick to your guns unnecessarily. If your marketing strategy is not working, then chance tack in one or more areas.

It is extra important to realise that an early offer in your sales campaign that's reasonable will often prove to be your best offer. Plus if you are buying then it will enable you to move more quickly to buy back into the same market, so you can also get a similar fair price.

You must also stay in tune with the market. While you cannot control it, you can at least follow it. Properties that are priced right always sell no matter what the market conditions happen to be.

If you have a question about real estate, or would like assistance in locating a property feel free to phone me.

Noel Thompson, Principal Professionals Logan Lifestyles at either:

Waterford 3299 7733
Browns Plains 3800 4000
Springwood 3808 5544

http://www.llr.com.au

THERE ARE FOUR REAL ESTATE PROFIT DRIVERS

2009-03-23T15:31:00.003+10:00

There are 4 ways to make money out of property investment:

PASSIVE APPRECIATION: This occurs when you purchase a well-positioned property with a good location and it increases in value along with the general property market over time. History has shown that good properties in Australia double in value every 7-10 years. Hence property is best viewed as a long-term investment.

ACTIVE APPRECIATION: This happens when you take an action to increase the property's value. Maybe you add a granny flat or redevelop it in some way.

RENTAL RETURN: This is the most common source of return on investment, since it provides cash flow. But it is important not to place too much emphasis on rentals, remembering your overall investment return.

TAX BENEFITS: Property is probably the best investment for tax benefits due to negative gearing and depreciation allowances.

It is important to keep all four of the income producing qualities in mind when investing in property. One reason is that well located residential properties have inherently high growth rates. This means that the rental returns are always going to be low yielding on this type of property.

Real estate investment should be viewed as a long term investment for this very reason, but, at the same time, it is one of the most secure.

If you have a real estate need or question, feel free to call me:

Noel Thompson, Principal Professionals Logan Lifestyles at either:

Waterford 3299 7733
Browns Plains 3800 4000
Springwood 3808 5544

http://www.llr.com.au

THE FEDERAL FIRST HOME OWNER GRANT

2009-03-23T15:01:00.002+10:00

All first home buyers should keep in mind the Federal Government's $14,000 grant, it will substantially defray legal costs or, alternatively, can help compose the deposit.

To qualify you must be an Australian citizen or permanent resident who is buying or building your first home. If you have a spouse or defacto, they must also be a first home buyer as well or you will not qualify.

The other main requirement is that it be your principal place of residence and at least one of the applicants must occupy the residence for the first 12 months.

If you apply and are accepted, the grant will be electronically transferred directly to the nominated bank, credit union or building society when:

The buyer becomes entitled to possession of the home under a contract to purchase (usually at settlement)
If the first home buyer is building their home and the building is ready for occupation as a place of residency.

In the case of the second option, most lenders are authorised by the State Government to administer the scheme on their behalf and can organise earlier disbursements.

Some lenders will accept the grant as part or even all of the deposit, but many will want to see an additional 5% or genuine savings as a deposit.

In any event, the Federal assistance is most welcome and every State has some additional assistance as well.

If you have any questions about real estate or would like assistance in locationg a property feel free to phone me:

Noel Thompson, Principal Professionals Logan Lifestyles at either:

Waterford 3299 7733
Browns Plains 3800 4000
Springwood 3808 5544

http://www.llr.com.au

Should your First Purchase be an Investment Property?

2009-03-23T14:47:00.002+10:00

If you are wondering whether your first property venture should be an investment property or a home, I suggest you start with your own home.

To get started, you may have to buy into a less expensive suburb or area, but at least you can get a hold on the property ladder. The government will assist you with the Federal First Home owners grant and often enough a State Grant as well.

If your home need a bit of work done, that is fine because you can bring up the value. The same if you are buying into an up and coming area that is a bit less expensive.

After a year or two you will find your property will most likely have grown in value. Plus you will have been making steady payments which will lower the amount owed. So your equity in the home can be a springboard for funding your first investment property. (Equity is the amount of home you own outright less the mortgage.)

When you get around to purchasing your first investment property it will be easier than paying off your home loan, because, if you set up the financing and ownership correctly both the tenant and the tax man will assist you in making your mortgage payments. The tenant's contribution will be their rent and the tax man will help through depreciation tax benefits.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Waterford 3900 7733 or Browns Plains 3800 4000 or Springwood 3808 5544

http://www.llr.com.au

THE CASE FOR SOLAR POWER

2009-02-19T14:34:00.003+10:00

As Government subsidies mount there is a growing case for solar power, HERE'S HOW SOLAR POWER WORKS.

There are two basic ways of harnessing solar power for domestic use.

The first is to use it to heat your water. The second uses photovoltaic cells, known as solar panels to convert sunlight into electricity for powering lights and domestic appliances.

The amount of power generated is directly linked to the area covered by the solar panels.

The trick to solar power is to store the energy so it can be used at night. In rural areas where there are no power mains a battery system is needed. But in urban areas with power mains you can exchange electricity with the power grid.

The best part is watching your electric meter go backwards. This is when you build credits, then at night it goes in reverse. In this way, a household can use the power grid like a giant battery and the whole community benefits from having solar power generate part of its electricity.

The best part of investing in solar power is that it will always be a welcomed feature of the property and it insures against future price rises in electricity.

As time passes, government will keep raising its subsidies as well, making your investment more and more lucrative.

If you have a real estate need or question feel free to phone me, Noel Thompson, Principal, Professionals Logan Lifestyles on 0418 517 525 or call into our friendly offices at Browns Plains and Waterford for immediate assistance.

http://www.llr.com.au

MAKE RETIREMENT EASIER

2009-02-19T13:58:00.003+10:00

Owning a Home makes Retirement Easier

When condiseration comes to retirement, one of the problems with renting all your life is the temptation is so great to spend your money on lifestyle. Then when it comes time to retire not only do you need to think about daily spending requirements and medical bills, but you also have the monthly rent to pay. Worst yet, the rent keeps going up along with inflation, NOT A PRETTY PICTURE.

Renters don't have the fallback of a mortgage payment for savings. So they need a plan to fund their retirement likestyle and not just their lifestyle while working. Unfortunately, retirement is the one area where renting instead of buying is really tested.

People tend to think that compulsory super will make for a confortable retirement but this is a misconception. According to Ross Clare, the research director at the Association of Superannuation Funds of Australia the average earner with 30 years of continuous full-time work ahead of them will amass only $180,000 in today's dollars by the time they actually retire.

Compare that with the latest Westpac ASFA Retirement Standard which states that a single retiree needs $36,141 a year for a comfortable retirement and couples require $47,371 a year. In order to accrue an income like this, singles need to amass $500,000 as a nest egg and couples an extra $50,000 on top of that. This figure does not even include your yearly rent if you don't own your own home.

If you have a real estate question or need feel free to phone me, Noel Thompson, Principal, Professionals Logan Lifestyles on 0418 517 525 or call into our offices at Browns Plains or Waterford for a friendly chat.

http://www.llr.com.au

A PROPERTY ACQUISITION STRATEGY

2009-02-05T15:23:00.003+10:00

First look for a property that is well located and can be acquired at a good price. Now go to your financier and get a loan for 80-90 percent of the value of the property.

The next step is to add value to the property by renovating it or refurbishing it or by redeveloping the property (say, by getting developmental approval for multiple units on the site).

You have now added value to the property and if renovated or refurbished you can then increase the rent collected since you have improved the property.

With a tenant paying better rent and a now improved property you then can get your property re-financed, because it will bring in a higher evaluation. This may have to wait for a period of six months, however, before banks will acknowledge the increase.

Now you can take out the extra monies left over from paying off the first loan and use it to put a deposit on your next investment property.

One idea is never to sell. That way you get the benefit of the long-term capital gain.

By re-financing and recouping your deposit and most if not all of your refurbishment costs, you are in effect using the same money over and over again to buy and develop a series of properties.

Servicing your mortgages is your main concern but because the properties are improved along with higher rents being achieved and good depreciation allowances you will have a lower net cost of ownership.

If you would like to view some investment properties feel free to phone me, Noel Thompson Principal of Professionals Logan Lifestyles on 0418 517 525 or call into our offices at Browns Plains or Waterford for immediate assistance.

http://www.llr.com.au

BUYING BEFORE AUCTION

2009-01-29T14:56:00.004+10:00

You don't necessarily have to wait for an action to buy if you're certain it's the right property. One way to avoid all the angst is to try and buy the property beforehand.

Of course you will need to do your homework and line up your finances. You may want your solicitor to check out the contract of sale to make sure everything is correct. You should have a professional building and pest inspection done on the property and most importantly to make a serious bid you will want to already have your financing lined up.

This pre-auction strategy is particularly useful if you think there will be great interest in the property. But be prepared to offer a fair price. You won't achieve a bargain but you may avoid having to bid against 3 or 4 other interested parties.

Remember everything is negotiable.

You don't have to necessarily accept the seller's terms. You can ask (but may not receive) for amended terms. At least this way you can gauge the level of interest and the degree of competition by the seller and their agent's reaction. If you ask for a longer settlement for instance and the seller refuses it might indicate there is strong interest. On the other hand if they readily agree you may be in a stronger position to negotiate further.

If you have a real estate interest or need feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles on 0418 517 525 or call into our friendly offices at Browns Plains and Waterford for immediate assistance.

http://www.llr.com.au

SUCCESSFUL PROPERTY INVESTORS

2009-01-26T07:14:00.003+10:00

Most successful property investors over the long term invest safely without speculating. They buy quality properties in good locations and hold them over the long term, allowing them to grow in value.

The main reason they purchase property in the first place is for strong capital growth. These types of investors rarely sell their properties. When they need money they simply refinance their investment properties as the equity increases.

It is probably the golden rule of property investing to buy the best quality property you can in the best location you can find. You then purchase within your budget and never sell the property.

Another successful trait of property investors is to buy at the right time in the property cycle. The end of a property slump is of course the ideal time to purchase because it is soon followed by an upturn in property values.

Purchasing at low prices kick starts and investment. One rule of thumb for property investors is not to overpay. You should buy at or below "FAIR MARKET VALUE".

There are still bargains to be had in today's market and any further negative global influences will flush out even more nervous sellers. Long-term investors can then take advantage of such short-term upsets to establish themselves for the next segment of the property cycle.

You can then add even more value to your property purchases by renovating or redeveloping your properties.

If you have a real estate need or question feel free to contact me Noel Thompson, Principal Professionals Logan Lifestyles on 0418 517 525 or call into our offices at Browns Plains and Waterford for a friendly chat.

http://www.llr.com.au

THE PROPERTY MANAGER'S ROLE IN CHANGING TENANCIES

2009-01-26T06:47:00.006+10:00

One of the primary roles in a property manager's job is to oversee the changing of tenancies.

A property manager needs to be alert to the need to reduce tenant turnaround time; in other words to reduce the amount of time that a tenanted property is vacant.

Another primary task of the property manager is to make sure the property is adequately cleaned by the vacating tenant and that it is satisfactorily prepared to receive a new tenant.

When tenant changeovers do occur it can present an opportunity to do deferred maintenance such as painting as well as doing a thorough clean. You always want your property to be well maintained and well presented in the marketplace.

As property manages, we also need to verify that all correct keys are returned and to do a vacating inspection on behalf of the landlord. One of our jobs is to compare the Entry Condition Report with the state of the property upon vacating to make sure the property is brought back to its original condition.

We look to see that it's clean and without damage or excessive wear and tear. We also check to see the fixtures are in place and everything is working and that the gardens are tidy and lawns mowed.

If anything needs rectifying we oversee this as well as doing a final inspection for the purpose of arranging the return of the tenant's bond.

If you have a property management need or query feel free to phone our property management department on 3299 7733 or call into our office at Waterford for immediate assistance.

http://www.llr.com.au/

Rental Yield

2008-12-11T15:59:00.006+10:00

How to Increase Your Rental Yield

Rents are definitely on the rise but increasing the rent is not the only way to increase your yield. You can also decrease your expenses and decrease the length of your vacancies.

Here are seven tips:

Increase the rent. This is the primary income producer but know your market.
Decrease the rent. This applies to those who are still suffering vacancies. You can go through prolonged vacancy periods when your rent is set too high that chew up all your profits.
Prepare a depreciation schedule. The tax office offers this deduction. So why not take advantage of it? Many investors don't realise that depreciation is available on older buildings too - not just brand new apartment blocks.
Consider pets. Half the Australian population has pets. So you can broaden your market by allowing your tenants to have pets.
Make your property more attractive. The time to do this is when you have a vacancy. This attracts tenants and allows you to increase the rent.
Include air-conditioning. Properties with this feature rent for an extra $10-15.00 a week over those without it. Not only will you be able to claim depreciation on it, but you will also attract a wider range of tenants lessening any chances of a vacancy.
Keep the property looking smart. It is recommended every 5 years to give your property a good overhaul and every 10 years a full refurbishment. This keeps the tenants happy and minimises vacancies.

If you have a real estate need or question feel free to phone me Noel Thompson Principal Professionals Logan Lifestyles on 0418 517 525 or call into our friendly office at Waterford for further assistance.

http://www.llr.com.au/

Investment Properties

2008-12-08T16:16:00.003+10:00

Investment Properties Still Popular

Australians still love their property and in uncertain times in the stock market investments that you can touch and feel are getting increasing attention from investors.

Plus there are still plenty of areas where demand continues to be strong despite the higher interest rates and Logan is certainly one of them.

"Property as an investment class is always popular and Australian home ownership remains a fundamental part of the Australian psyche", comments Real Estate Institute of Australia president Noel Dyett.

Property fundamentals never change, too "what matters most is position, position, position. None of the fundamentals change regardless of whether interest rates are going up or down or bumping along" Dyett adds.

To understand position you need to look at transport, community amenities and schools.

"climate, convenience and lifestyle are the overriding factors driving property hot spots" according the Bernard Salt, KPMG partner. "But if you can add another factor - like infrastructure - it will give a burst of appeal because if the lifestyle equation of the town changes overnight it can have a rapid effect on property values".

Record migration levels, rental property short shortages and a generation of baby boomer's looking to re-locate are some of the forces behind price buoyancy.

One thing to remember in investing, make sure you can service you debt. There maybe a dearth of rental properties but you can't keep increasing rent forever to meet higher interest rate costs.

If you are interested in viewing investment properties or have and investment query feel free to phone me Noel Thompson Principal Professionals Logan Lifestyles on 04185 517 525 or call into our friendly offices at Browns Plains or Waterford for immediate assistance.

http://www.llr.com.au

Purchasing a Home Extra Costs

2008-12-08T15:48:00.003+10:00

Budget for Extra Costs When Purchasing a Home

When purchasing a home be sure to account for all the costs beyond the purchase price itself.

HERE IS A SUMMARY

Stamp duty, this is a compulsory tax charged on any exchange of property at the time of purchase

Legal fees, generally a conveyancing firm or solicitor will need to be hired to analyse and oversee all documents. A title search is always needed to assure outright ownership and that there are no legal encumbrance's.

Building and pest inspections, necessary inspections to identify all potential defects in the buildings as well as in the environment and to look for termites and other pests.

Council and water rates.

Mortgage insurance, this may or may not be applicable depending on the funding source and their requirements.

Home and contents insurance expenses generally you will want to be fully covered for fire, damages and theft.

Moving expenses this covers the removal fees.

Disconnection and re-connection of utility services this includes telephone, electricity, gas and internet connections.

Strata levies when moving into a strata unit these are quarterly assessments for property maintenance and leisure services.

There are concessions available for First Home Buyers on some of the above. A $14,000 grant is offered through the State Government to counter the effects of the GST on home purchases. Plus there are concessions for stamp duty.

If you have a real estate question or need phone me Noel Thompson Principal Professionals Logan Lifestyles on 04185 517 525 or call into our friendly offices at Browns Plains & Waterford for immediate assistance.

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First Home Saver Case Studies

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Here are two examples given by the Federal Government of how a First Home Saver Account actually works.

1. A couple Belinda and Josh Smith each open up an individual First Home saver Account when the scheme opens on 1 October 2008.

Both of them earn an identical wage of $61,000 so they decide to put aside 10% of their individual salaries into their respective accounts. Each one then receives a 17% government contribution on the first $5,000 of their contributions made to their accounts each year.

After 5 years Belinda and Josh will together have saved a deposit of approximately $88,500 to use towards the purchase of their first home.

If they had instead decided to for go the government plan and get a term deposit with the same 7% earnings rate and the same yearly contributions their total deposit for the house after 5 years would be about $75,900.

This means that the First Home Saver account would have earned Belinda and Josh an extra $12,600 over 5 years because of the extra contributions of the Government.

2. In a second case study 19 year old Ria saved $1,000 per year for 4 years while attending university. She then started working and contributed $5,000 per annum for the next 6 years.

With the First Home Saver Account she would have accumulated a home deposit of $50,400 by the age of 29.

If you have a real estate need or question fee free to phone me Noel Thompson Principal Professionals Logan Lifestyles on 0418 517 525 or call into our friendly office at Browns Plains or Waterford for further assistance.

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How to prepare for a Storm

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A storm is on its way. What can you do?

The first thing is to clean your gutters and downpipes of any debris. This is because run-off from rain can back up under the eaves and into your ceiling causing structural damage.

If safe and you have permission from your local council you should trim any overhanging or dangerous limbs from trees that are growing around your property. Large tree limbs can cause major damage to buildings if they fall and can also block access to your property, close roads and damage power lines.

If a power line is involved you can also seek assistance from your electricity supplier.

The next thing is to clean up the yard of any loose items as well as those on your balcony. This prevents things like deck chairs from becoming dangerous missiles in high winds. Other items of concern include light-weight garden furniture toys and even pet accessories.

Another major concern is securing the material on your roof. Make sure it’s in good condition so water will be prevented from leaking inside.

And don’t forget to park your car under secure cover and away from trees. Of course you’ll also want to make sure any children and pets are indoors.

Finally keep a list of emergency numbers on your fridge or in a handy place. These will be very handy should any emergency arise.

Have a real estate question or need? Feel free to phone me Noel Thompson Principal Logan Lifestyles on 0418 517 525 or to call into our friendly offices at Browns Plains or Waterford for immediate assistance

http://www.llr.com.au

Auctioning Advantages

2008-11-25T14:52:00.003+10:00

The Advantages Offered by Auctioning

Martin McNamara of Australian Property Monitors touts auctions for enticing buyers before an actual price is set — providing the agent gets the price range right.

“If it’s a unique property or one that will get a lot of interest an auction is the best way to determine the true price. People can come to open inspections and evaluate the property independent of the price — they can develop an interest for the property first rather than being tainted by the price.”

So McNamara warns: “If you over-egg the cake a lot of people won’t be prepared to negotiate. That’s why sometimes if you’re not absolutely confident of the price you’re putting on your property you should take it to auction.”

Auctions require an intensive 3-week lead-up campaign. As an example a $700,000 property can cost $10,000 to market for auction. While initially this is more you do have to take into account that the private treaty marketing period can drag on for months because there is no cut off date and no set program.

One thing an auction does is it gives you the opportunity to get top-dollar. All you need are two interested parties who really want it and you’re away. On the other hand as Louis Christopher says: “The auction price will only be as high as the second highest bidder’s price.”

If you’re considering selling feel free to contact myself Noel Thompson Principal Professionals Logan Lifestyles on 0418 517 525 or to call into our friendly offices at Browns Plains or Waterford for immediate assistance.

http://www.llr.com.au/

Selling Pointers Planning

2008-11-13T16:03:00.004+10:00

Selling Pointers

If you are planning to sell a property, here are some tips.

Be sure to promote your property. Make sure you invest sufficient funds to allow your agent to do their job properly. Keeping your property a secret will hinder your chances of success.

Plan to use your funds to promote your property. Don’t rely on agent-paid advertising. Skimping on advertising monies may come back to haunt you in the form of a lower selling price.

Let your agent tell you the best mix of newspaper, proper signage, internet, window cards, open inspections, etc. A coordinated mix of strategies works best and your agent has all the experience of their other properties.

Maintain flexibility. Don’t stick to your guns unnecessarily. If your marketing strategy isn’t working then change tack in one or more areas.

It’s extra important to realise that an early offer in your sales campaign that’s reasonable will often prove to be your best offer. Plus if you’re buying then it will enable you to move more quickly to buy back into the same market so you can also get a similar fair price.

You must also stay in tune with the market. While you can’t control it you can at least follow it. Properties that are priced right always sell no matter what the market conditions happen to be.

If you have any questions about real estate or would like assistance in locating a property feel free to phone me Noel Thompson Principal Professionals Logan Lifestyles on 3299 7733 or 0418 517 525 or to call into our friendly offices at Browns Plains or Waterford for prompt attention.

http://www.llr.com.au/

Property Manager Role

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The Role of a Property Manager

The first thing a property manager does is help to keep you legal in everything you do relative to your tenant. It is the manager’s job to thoroughly acquaint themselves with the obligations and responsibilities of both the landlord and the tenant including any new changes in the law.

The next thing is that a property manager will greatly assist in choosing the right tenant one who will pay on time and properly care for your property. By formalising the screening process you remove the onus of having to vet the various applicants yourself. Plus property managers can access credit reports and know how to interview references.

Keeping your property in tiptop shape is important to attracting tenants. Your property manager will not only field any tenant calls for repairs on your behalf but will also periodically inspect your property to see that it’s being properly maintained. They also only use reliable tradespeople whom they can employ as needed.

On top of this your property manager will handle all transitions in tenancies making sure a condition report is properly filled out at the outset and that the final inspection professionally assesses all wear and tear on the property to determine any needed repairs maintenance or damages.

They will then attend to collecting any outstanding debts, and don’t forget the monthly collections of rental and slow payment follow-up that’s part of their on-going services.

If you are an investor and would like to talk about managing your property feel free to phone Noel Thompson Principal Professionals Logan Lifestyles on 3299 7733 or 0418 517 525 or Sandra Reynolds Senior Property Manager on 07 3299 7733 or call into our office at Waterford for immediate assistance.

http://www.llr.com.au

Buying the Right Property

2008-11-12T16:10:00.003+10:00

Tips for Buying the Right Property

A simple rule of thumb for investors is that you most often make your profits when you purchase the property. So buying at the right price becomes paramount.

By focusing your research and time on a particular geographic locality, you can develop an “investment comfort zone”.

So the first thing to do is to choose a geographic locality in which to concentrate your study of the market. You might choose an area of high capital growth. Or maybe just your own neighbourhood.

The best places for investment have good rents, low vacancy rates and are popular places to live.

You’ll also want to choose an area you can afford to invest in. No point in looking at areas in which you can’t afford to buy.

Now that you have chosen your area, the next thing is to develop your expertise in that same locale. Study price ranges, rental market data including vacancy factors, plans for potential infrastructure additions, planned developments, employment statistics and trends, school locations, transport, and local council matters. The latter includes town planning and zoning rules and regulations.

The next step is to acquire investment skills such as negotiating techniques, knowledge of
finance, tax laws, and risk minimisation. All this will aid building an investment portfolio.

Finally is the ability to act when the right property arises. Because with all of the above, bargains will start to stand out to you.

If you have any questions about real estate or would like assistance in locating a property feel free to phone me Noel Thompson Principal Professionals Logan Lifestyles on 3299 7733/0418 517 525 or to call into our friendly offices at Browns Plains or Waterford for prompt attention.

http://www.llr.com.au

Federal Government First Home Saver Accounts

2008-11-12T15:17:00.006+10:00

First Home Saver Accounts

The Federal Government has instituted a new savings plan for First Home Buyers. The idea is to assist Australians to boost their savings for a deposit on their first home.

In order to be eligible for the tax-free withdrawal for a first home, the owner of the account must have put in a minimum amount of $1000 per calendar year for four financial years.

However, the contributor can be anyone. All contributions must be from after-tax income and a tax deduction cannot be claimed.

The Government will make a flat 17% contribution on the first $5000 of savings to the First Home Saver account in any year.

Investment earnings (or interest) that accrue in the account will be taxed at a maximum of 15% as well. But all Government contributions will be tax-free.

Withdrawals from a First Home Saver account which are used to purchase or build a first home will be tax free. The First Home Saver account has a $75,000 balance cap, after which no further personal contributions can be made.

The Scheme will commence from 1 October 2008.

To open a First Home Saver account you will need to:

• Be aged 18 to 65
• Have not previously purchased or built a first home in Australia to live in
• Not currently have or previously have had a First Home Saver Account
• Provide a tax fi le number.

If you have a real estate question or need, feel free to phone me, Noel Thompson, Principal
Professionals Logan Lifestyles, on 0418 517 525, or to call into our friendly offices at

Browns Plains & Waterford for immediate assistance.

http://www.llr.com.au