Little Things You Can do to Your Home Before Listing it For Sale

VENDORS have many reasons why they should give themselves as much time as possible to prepare their outgoing houses for sale.

As well as allowing enough time to properly repair niggling interior and exterior works, there may be legal or title issues that need to be resolved; a big structural problem might take longer to fix than first anticipated; or plans to subdivide your block, or obtain a development permit to attract the interest of developers, might take time to co-ordinate.

Alternatively, your choice of decor, or garden, could risk turning buyers off and might need to be redesigned.

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Melbourne’s Most Reinvented Suburbs

Beacon Cove, Port MelbourneONE has to wonder what “great Australian dream” some Melburnians were being sold last century.

Until recently – the 1980s and 1990s for most inner-city areas – owning an inner-city terrace was not necessarily a big deal. More often than not, according to veteran agents, they were used as “stepping stone” investments that could be paid off in a few years and sold on the basis of being “more attractive than renting”.

Buyers – particularly immigrants from Italy and Greece – bought in Richmond, North Fitzroy or Northcote, in order to save a deposit to build new, larger homes in Avondale Heights, Glenroy or – if they invested well – Doncaster.

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Top Melbourne Suburbs to Invest, For Budgets of Less Than $500,000

Flemington Post OfficeMELBOURNE’s once booming real-estate market has finally decelerated – and for the first time in a long time, buyers are calling the shots.

If you have a secure job, low debt and a will to own real estate – banks, developers and the Government want to talk.

But a word of advice: if you do take the plunge, spend what you can afford, rather than the maximum amount you can borrow.

Saturday Domain talks to some experts on which suburbs you should look at, no matter what your budget:

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Breeding New Life Into Melbourne’s Landmark Sites

Pentridge Prison, CoburgTHIRTY years ago a three-bedroom house in Thomastown cost more than a three-bedroom house in Fitzroy – that’s testament to how much Melbourne’s attitude to housing has changed.

In the 1970s, to live in Collingwood, Port Melbourne or Yarraville meant to be entrenched in Melbourne’s working class. Houses could languish on the market for months – unsellable, unrentable and not worth fixing up.

Today, to own properties in these and many other particularly inner-city suburbs, is to own the real estate equivalent of a gold mine. Since the 1980s, but especially since the turn of this century, where and how Melburnians want to live has shifted and many disused, derelict but once significant sites have been redeveloped. We look at some of the biggest:

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Former ASX Building at 357 Collins Street Back on the Market After 15 Years

It was once the heart of the city’s financial centre, and is said to occupy the best position on Collins Street. But for almost fifteen years, the former Australian Stock Exchange Melbourne headquarters at 357 Collins Street has sat derelict and vacant.

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What to Look for in a Property or Investment Scheme

It was an accident waiting to happen.

In one corner, cashed up and trusting investors wanting to get the best returns out of their savings.

In the other corner, sales people for a property scheme, posing as financial advisers – earning a commission from every dollar they can get you to invest.

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City Shift as Provincial Victorians Buy Melbourne “Holiday House”

We’ve all heard about the sea changers – the growing number of Melburnians packing up their homes and heading to a new life in the coast or country.

Singles, couples and families are leaving in droves – trading in the city’s caffeine infused impersonal lifestyle for something more inspiring.

But while the sea-changers pack up their four-wheel-drives in search of a new home outside of the metropolitan area, they are passing a growing number of city shifters – those from provincial Victoria that are also looking for a change of scenery, and are setting up tent right in the heart of the city.

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Performance of Melbourne’s Southern Suburbs This Spring

THE performance of Melbourne’s southern suburb’s reflects the truism that the rich are getting richer.

Nine of the ten best performing suburbs had annual median house growth of more than 10 per cent, with the best performer, Toorak, increasing by an astounding 33.6 per cent. If you’re aspiring to get into the suburb, you’d better have found an extra $560,000 since last year – with the median house price now $2,230,500, almost double that of Melbourne’s second most expensive suburb, Brighton.

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Performance of Melbourne’s Western Suburbs This Spring

THE market leading pace with which some western suburbs started the year, seems to have hit a snag, with the top ten suburbs recording relatively lower levels of growth than the other regions. Only nine of 22 eligible western suburbs recorded median house price increases over the metropolitan average of 4.2 per cent.

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What Half a Million Buys You in the City, Coast and Country

It’s a magic number, really.

Tell a real estate agent that you have $500,000 to spend, and they should be able to find you a house in any part of Victoria – Hawthorn to Hamilton.

We tell you what bang for your buck you get in the city, coast and country.

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Making Your Home Your Main Investment

YOUNGER home owners call it a bonus.
The baby boomer generation call it a rescue.
Accountants call it an opportunity.

Astronomical growth in house prices over recent years, has armed home owners with tens of thousands, sometimes hundreds of thousands of dollars of unlocked equity in their homes.

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Which Coast and Country Regions Have Yet to Peak?

Picking which one of Victoria’s coast and country townships will excel is no easy task, reports Marc Pallisco.

With Victoria’s coast and country real estate markets performing so well for so long, one could be forgiven for thinking the boom hasn’t ended.

Not so.

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Rental Crisis Spurs Property Investor Boom

Melbourne’s 284,000 renting households are finding themselves caught between a rock and a hard place.

On the one hand vacancies for rental properties are at an all time low 1.7% – and landlords know it. This is especially true in inner city suburbs such as Carlton, Richmond and South Yarra, where vacancy is just 1.5%.

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More Women Buying Property

Footloose and fancy free female seeks accountant, bank lender and real estate agent – for date with financial security.

That’s right, girl power is ripe in Melbourne’s real estate game, and it’s a trend that doesn’t look like slowing any time soon.

Agents say the days of women waiting for a man to get into the property market are gone. Waiting for blokes, especially those that have their act together, costs money – and smart girls aren’t waiting around to watch opportunity pass them by.

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Housing Affordability Weakens as Investors Swoop in

 

 

 

 

Housing Affordability Weakens as Investors Swoop in

Prospective home buyers dealt some cruel blows over the last couple of years.

For starters, the Reserve Bank lifted interest rates – three times – seriously affecting the amount first home buyers were able to borrow, and pushing some of them out of the market completely. Most bank interest rates today circle 7 to 8 per cent – an increase of about 1 per cent on last year.

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The pros and cons of rental guarantees

 What’s in store for apartment investors when the rental guarantee runs out? Marc Pallisco finds out.

According to most real-estate agents, Melbourne’s apartment market has decelerated from the heady heights of the late 1990s. As such, developers have been forced to devise new methods to maximise existing demand, with the goal for many being to achieve enough pre-construction sales to make the development profitable.

One concept that has gained popularity in recent years is the rental guarantee.

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Shaping the future of Melbourne

Battle lines have been drawn in the sand as planners and protest groups debate our sprawling suburbs. Marc Pallisco reports.

The
contentious Melbourne 2030 planning controls continue to divide the
community. On the one hand, some industry experts warn Melbourne could
become another overextended Los Angeles if we don’t halt the urban
spread. Meanwhile, protest groups in suburb after suburb complain of
higher-density living being foisted upon them. They claim their
neighbourhoods are in danger of losing their character.

Somewhere in between these factions may be the future Melbourne.

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