Thursday, March 24, 2011
Friday, March 11, 2011
Unlock the Hidden Cashflow in Your Investment Property
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.
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.
Thursday, February 17, 2011
Congratulations!!!
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.
Tuesday, February 15, 2011
It’s Important to Properly Vet New Tenants
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.
Tuesday, December 7, 2010
Professionals Logan Lifestyles Annual Pink Ribbon Raffle
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
Friday, December 3, 2010
Hodgson Lawyers Christmas Party
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?
Friday, November 12, 2010
Professionals Salesperson's Conference 2010 - Gold Coast
Pictures below of some of our staff who attended the Salesperson Conference & the social event.
Friday, October 22, 2010
Professionals Logan Lifestyles Presents Our Annual Pink Ribbon Raffle
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
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
Thursday, September 16, 2010
More Real Estate Terms
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.
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.
Monday, August 23, 2010
Real Estate Terms
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.
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.
Friday, August 13, 2010
Saving Up for a Deposit
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.
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.
Friday, July 30, 2010
What Makes an Ideal Location?
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.
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.
Friday, July 23, 2010
Upsizing and Downsizing
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.
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.
Friday, July 2, 2010
More Auction Bidding Tips
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.
Monday, June 28, 2010
CONGRATULATIONS!!!!!
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?
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.
Tuesday, May 11, 2010
Thank you to those who contributed to such a successful 25th Anniversary last week.
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.
Friday, May 7, 2010
How to Profit from Renovation
“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.
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
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.
Thursday, April 22, 2010
What Drives a Successful Auction?
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.
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.
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