Author Archives: Terry Hansen

property

Is your property ready for spring selling?

It may still be winter, but there’s not a lot of time left if you want to prepare your property for the frenzied spring selling season.

So what should you be doing if you want to list your property this spring?

 Finish house projects and repairs

Your property should be in pristine condition before it hits the market. Buyers will always overestimate the cost to fix any property issues, whether it’s a broken light bulb or something more serious. Plus you want to make a good first impression, so try to make everything as move in ready as possible.

Clean out the clutter

Get a head start on the moving process and letting go of your home by giving it a good old-fashioned spring clean.

A clean home will be much more welcoming for potential buyers and will help them better visualise its spaces. Invite over a trusted friend to give your property a once over in case there are any nooks or crannies you may have overlooked. It may also be worth hiring a professional cleaner to help make your home look extra spotless and to save yourself some time.

Get out the paintbrush

There are a number of things you can do to improve the aesthetic of your home and the one that seems to have the biggest impact is painting.

A fresh coat of paint can make a property feel like it has been freshly renovated and can make rooms seem bigger and brighter.

If you’re having a hard time choosing paint colours then ask your local paint supplier what the current trends are or check out the colours of new or renovated homes in your area for inspiration.

Plan the gardens 

Spring is all about the outdoors and that means that gardens can become a major selling point. Spend time on kerb appeal by clearing out weeds, planting new garden beds and replacing anything that’s damaged such as fences or letterboxes.

Don’t forget the backyard, it’s a great place to set up a nice entertaining area for would-be buyers to admire.

Chat to a property expert

Before spring starts it’s a good idea to call up your local real estate agent to get advice and find out what can be done to maximise your sale price.

If you’re thinking about selling in outer Western Sydney and would like any advice about selling this spring then get in touch with us at Professionals Outer Western Sydney Real Estate.

selling

First home buyer activity at highest level in years

First home buyers are making a dramatic comeback, with loans to the buyer group hitting a six-year high.

The latest ABS Housing Finance figures reveal that first home buyers made up 18.1 per cent of all new mortgages given out during June.

The volume of first home buyer occupier lending went up by 11.4 per cent in the 12 months to June, likely spurred on by new government incentives brought in at both a state and federal level last year.

Housing Industry Association senior economist Shane Garrett has noted other reasons why first home buyer numbers have gone up, including slowing house prices and low interest rates.

“On balance, the slowdown in dwelling price growth over the past year and ongoing low interest rates have been favourable for those seeking to access the market for the first time,” Mr Garrett said.

Additionally he noted that shrinking investor activity might be easing things for first home buyers.

“The value of housing investor loans hit a five-year low during June and has declined by 22.4 per cent since its peak at the beginning of last year,” he said.

How first home buyers can make a move

Looking to get into the market while the conditions are in your favour?

Here are a few tips to get you started:

  1. Find out if you qualify for a loan – Talk to a lender to get an assessment of your financial situation. This will help you figure out if there are any changes to be made to get you where you need to be.
  2. Save as much as you can – A bigger deposit will give you more options and help you avoid paying LMI fees.
  3. Do your research – Understand the market you intend to buy in so you know how much to offer when the time comes.
  4. Get help from the experts – Don’t go on your buying journey alone! Enlist the help of professionals such as financial advisors, mortgage brokers, buyer’s agents and conveyancers.
syd science park

Works begins at Sydney Science Park

The first step towards the Western Sydney Aerotropolis is now underway with the turning of the first sod at the Sydney Science Park.

Once the development of the 280‐hectare Luddenham site is complete it’s expected to deliver more than 12,000 knowledge-based jobs, educate more than 10,000 students and provide homes for more than 10,000 residents.

The $5 billion project is owned by western Sydney-based property group, Celestino and will provide new world-class science laboratories and a state-of-the-art STEM school.

Penrith Mayor John Thain said in a statement that the park’s development will further cement Western Sydney’s place as a leading centre for research, education, jobs and opportunity.

“The Science Park will attract the world’s leading scientific professionals and organisations to Western Sydney and be a catalyst for more local jobs and investment in Penrith,” said Cr Thain.

“Potential linkages between the Science Park and work undertaken within The Quarter, Penrith’s award-winning health and education precinct, are also clear opportunities and an exciting prospect for researchers, educators and students from across the region.”

The Penrith region provides the perfect location for Sydney’s Science Park, where it will benefit from significant government investment in the region’s infrastructure. This includes new transport projects such as the North South Rail Link and major road upgrades, as well as the new Western Sydney Airport at Badgerys Creek.

The development’s first stage will include a mix of commercial, residential, educational and open space, with the first commercial building and STEM school set to be operational by 2021.

Further information about the Sydney Science Park can be found at https://www.celestino.net.au/sydneysciencepark/residential.

 

Image via https://www.celestino.net.au/

renovating

Should you DIY or call in the experts?

Renovating can be expensive so it’s understandable that a lot of people hope to save some money by doing the hard work themselves.

While do-it-yourself renovations can be a great way to improve your home on a budget, it’s important to be aware of your limitations.

Some things are easy to tackle on your own, but others really do require a professional to carry out the job properly.

Dodgy work can be dangerous and it can even devalue your home, so its important that you get the work done right the first time around.

A few renovation projects worth tackling yourself include:

Painting – This is possibly the easiest project you can do yourself as it requires no special skills or overly expensive equipment. Almost anyone can paint, you just need to be patient and ensure you spend a lot of time making sure you prep the areas thoroughly.

When to leave it to the experts: Painting high areas or exteriors can be a bit trickier so it is often worth leaving these areas for the experts.

Demolition – You can help save builders a lot of time (and therefore save yourself some money) by doing some minor demolition and preparing areas for any new changes.

When to leave it to the experts: Make sure to check that walls aren’t load-bearing before removing them. Depending on the age of the house you may also need to make sure that there is no asbestos prior to any demolition.

Landscaping – If you have the time then you can do a lot of landscaping work yourself. It’s not too difficult to figure out what needs to go and what needs to stay. Cut back wild growth and clear areas where you want to create new garden beds. You might also like to plant new trees yourself.

When to leave it to the experts: You will likely need to call in for help if there is any retaining work to do. Also don’t attempt to remove any large trees yourself.

Leave it to the experts

You might be able to tackle small projects around your home, while leaving some of the harder work for the experts. If you’re working with a builder then discuss with them what you think you might be able to do to help save a bit of money.

Keep in mind that by law a certified tradesperson is needed to carry out any electrical or plumbing work at your home.

At the end of the day there might be a lot you can DIY, but if you don’t feel confident in your ability to make any types of changes to your home then you should always at least call an expert to get advice.

flipping property

Falling Aussie dollar could lead to interest rate hike

The Reserve Bank of Australia will be sitting for its monthly meeting tomorrow and the question on everyone’s mind is whether interest rates are finally going to change after a record long period of holding steady.

While most believe that the official cash rate will remain on hold for August at least, there is a warning from a Moody’s Investors Services report that a rise is imminent.

The report said that ongoing falls in the Australian dollar could put pressure on the Reserve Bank to lift interest rates to combat price inflation.

The Australian dollar has fallen 5 per cent against the US dollar this year, from a high of above 81 cents in January to a current low of around 74 cents.

“Sustained currency depreciation is credit negative for Australia because it could bring forward a tightening of the country’s monetary policy, making debt less affordable for highly leveraged households,” Moody’s analysts wrote.

It was also noted in the report that Australian debt is at an all-time high, having risen from 180% three years ago to 200% in March this year.

Any increase in the cash rate is always a concern, however some lenders have already lifted their rates independently of the Reserve Bank.

The Big Four have kept their rates steady, with the Commonwealth Bank even lowering some of their home loan products recently, but a move by the Reserve Bank could see them follow suit with others.

Protect yourself against higher rates

Those concerned about the possibility of higher rates should take steps to prepare themselves now.

  • Pay down debt – The best thing you can do is pay down as much debt as you can as quickly as you can to create a financial buffer.
  • Find a lower rate – It is also worth shopping around to find a lower home loan rate so you are paying less in the first place.
  • Talk to your lender – You could also try calling up your current lender to see if they can improve your current offering.
architecture

Blacktown set for six new suburbs

Residents of some of Blacktown’s suburbs may soon have a new address.

The Geographical Names Board has notified that it proposes to amend the suburb boundaries of Marsden Park, Schofields, Riverstone, Rouse Hill, Vineyard, Quakers Hill and Shanes Park to make way for the creation of six new suburbs.

The new suburbs are to be named Melonba, Angus, Richards, Kwigan, Wran and Lynch.

A map of the suburb boundary changes can be found on the Blacktown City Council website. It is also on display at the following locations:

  • Max Webber Library, corner Flushcombe Road & Alpha Street , Blacktown 2148 – Our Library @ The Mount Druitt Hub, Ayres Grove, Mount Druitt 2770 – Dennis Johnson Library, corner Stanhope Parkway & Sentry Drive, Stanhope Gardens 2768 – Riverstone Library & Digital Hub, 1st Floor, Riverstone Village, corner Market Street & Riverstone Parade, Riverstone 2765
  • Lalor Park Library, corner Freeman Street & Northcott Road, Lalor Park 2147

The maps will be on display from Wednesday 8 August 2018 until Saturday 8 September 2018.

The suburb changes are needed to help make way for expected population growth in the area. It’s predicted that there will be over 150,000 new residents by 2036.

The proposed boundaries will keep the north-west suburbs to a manageable size, which is particularly important for emergency services like fire and ambulance.

Council decided on the proposed boundaries and suburb names after extensive community consultation. Names were chosen that recognise the suburb areas’ local attributes, pay respect to prominent public figures, and create new community identities that accommodate the local population.

Further details about the proposal can be found from the Geographical Names Board. Submissions can be lodged by emailing The Secretary, Geographical Names Board – ss-gnb@finance.nsw.gov.au.

keys

Should you sell or hold when property prices fall?

Australian property prices have fallen 0.8 per cent in the past year according to data from CoreLogic, and many are wondering whether that trend is set to continue.

Westpac’s monthly consumer sentiment report seems to show that most Australians don’t expect that trend to change and expect home prices to remain flat or to go lower over the next year.

Is now the time to sell up?

A gut response for many property owners may be to sell their property before prices get any lower however people shouldn’t be too quick to put up a ‘for sale” sign.

If you bought your property with a long time outlook then it’s best not to focus too much on short-term market movements.

Over time prices are likely to go up again. The best thing you can do is to try and not continually check price movements and worry about small price falls. If you have time on your side you will be able to ride out any downturn.

On the other hand if you need to sell in the short term then it may be worth investigating further.

Certain areas may see more losses over the next year and if you suspect that to be the case where you are then it might be best to get out of the market sooner rather than later, but only if you can’t afford to stay in the market until things improve.

Every property market is different

A lot of the figures that get reported are very broad and they may not accurately reflect what is happening in your local area. The main price falls are being seen in inner Sydney and Melbourne but there are areas even within these markets that are still seeing price gains.

Get local advice 

You need to chat to local agents to get a good idea of what the local market sentiment is. It’s very possible that properties in your area are seeing gains and not losses and if that’s the case you don’t want to rush to the property exit prematurely.

If you’re after advice about selling in outer western Sydney contact the Professionals Outer Western Sydney team.

Outer Western Sydney Real Estate

What to do when your home just won’t sell

Have a property on the market that isn’t getting the interest you had hoped for?

When you put a lot of effort into listing a property it can be a very frustrating experience when it isn’t pulling in any offers. But no matter the situation it’s important for sellers not to lose hope.

There are usually a number of options available to help turn things around and get a property sold.

  1. Rethink your advertising

If you’re not getting a lot of buyer enquiries then ask yourself how effective your advertising campaign is.

Most buyers will be doing their property research online and will be drawn in by captivating online listings. This means that you need to have high quality images that highlight the best aspects of the property.

You may need to take new ones if your old ones aren’t doing their job, perhaps highlighting different angles or using new styling.

A detailed property description is also important and can go a long way to entice buyers.

Discuss with your agent who your target market is and other ways in which you can help your property gain more exposure.

  1. Make improvements

It’s possible that the property’s appearance is turning people away. If you think your property might look a little rough around the edges then consider a cosmetic renovation.

A fresh coat of paint can help to make the property look fresh, as can new landscaping and an overall neat and tidy appearance. It may also be worth bringing in a professional staging service to give your home the updated look it needs.

Get honest feedback from buyers first to help assess what may be turning people away. You don’t want to spend money on improvements that aren’t going to make a big impact.

  1. Review pricing

Incorrect pricing is a common reason why properties stay on the market. If you hope to sell then you need to price the property to meet the market. If a price is too high it may prevent interested parties from making an enquiry.

Research comparable property sales in your area and ask if what you are asking is reasonable.

Remember that the price you set needs to reflect the current market it’s in and not the one that you bought in.

  1. Take a break

If you’re not in any hurry then it could be worth taking your property off the market for a little while to see if you have a better chance of selling in a different market.

Eventually a property listing can become stale and buyers will start to pay less attention to it, instead favouring new properties that hit the market.

So if you can afford to take a short break from selling it can be worthwhile and it will allow you time to reassess and refresh your campaign, while also giving you a shot at hitting the market again with a new group of buyers.

  1. Be open to feedback

Have a chat to your selling agent about what the issues could be. Generally they will have a good idea of why you may not be getting the right kind of offers and will be able to offer suggestions to help turn your luck around.

Sometimes the feedback you get may not be what you want to hear but its best to have a clear vision of what is happening so you know where you might need to make changes.

Overall, try to stay positive and take your time if you can. There is always something that can be done to help you on your way.

QSRT-2018

Check out Windows on Queen

The highly anticipated Windows on Queen exhibition is now on display in the heart of St Marys.

The exhibition tells the story of 12 historic sites along St Marys’ main street through artistic posters in shop windows.

Keen historians and those who want to learn more about St Marys have until September 5, 2018 to check out this special event along Queen Street, or if you can’t make it in person you can find the same content at the Penrith Library.

Penrith audiences will be able to get a similar exhibition experience at the library with posters and interactive components via QR codes and extensions at the Culture and Creativity website.

But to see the places and fully understand the story behind Windows on Queen its best too visit it in person at St Marys.

You can do a self-guided walking (available from the Culture and Creativity website) to help you explore the 12 locations. For the best experience download a QR reader to your phone so you can scan the posters and learn more about each site.

The walking tour starts at the corner of Station and Queen St and finishes at the corner of Queen Street and the Great Western Highway. Along the walk you will find out about past businesses and services in St Marys and see how the area has evolved over time.

Details at a glance

Further information about the Windows on Queen exhibition and how to enjoy it can be found at culturecreativity.com.au/QSRT.

The exhibition at Penrith Library will run until August 22 at the following times:

Mondays to Fridays 9am to 8pm

Saturdays 9am to 5pm

Sundays 10am to 5pm

 

Image via www.culturecreativity.com.au

spring selling

4 essential elements for a successful home sale

Don’t put a “for sale” out the front of your home without first thinking about what to do to get the most out of your sales campaign.

There are a few things that every seller should do before their property goes on the market to help them on their way to a successful sale.

They include:

  1. A bit of preparation

Spending some time making repairs and improvements to your property before it hits the market can go a long way towards achieving a higher sale price.

Invest in low cost measures that will have the biggest impact on the cosmetic appeal of the property such as painting, landscaping or new flooring.

Any obvious things that need to be fixed should also be rectified right away because even if it’s something small, it could be seen as an expensive problem for a potential buyer.

  1. A realistic sales price

Price your property for the market it’s in. Pricing a property too high will turn buyers away, while pricing it too low could mean that you miss out on potential profits.

Research what other similar properties in your area are selling for to help gauge what buyers might be willing to offer on your property. Keep in mind that no two properties are the same and there are a variety of factors that can influence the appeal of a property.

  1. Proper presentation

If you want buyers to come knocking then you’ll need a property that impresses.

This is where a professional styling service can help. A stylist can come in and highlight the best aspects of a property and show buyers what they want.

No body wants to see clutter and old furniture (unless they’re antiques) they want to see a contemporary and liveable space.

  1. The right advice

Every successful sale stems from getting the right advice from the start. Consult a real estate agent who has in-depth knowledge of your area and knows what local buyers are looking for. They will be able to put you on the right track when it comes to your marketing campaign and choosing the most appropriate method of sale.

If you’re looking to sell in outer western Sydney and would like any advice then contact the Professionals Outer Western Sydney team.