Archive for August, 2008
Recent figures released by the Reserve Bank of Australia (RBA) show that property owners are hurting because of inflationary conditions in the economy. The rising cost of living is causing households to suffer as any increases in salary or wages are being gobbled up.
ABS figures show the cost of living rose 4.5% last financial year boosted by record petrol prices, the biggest rental increases since 1989, higher bank fees and margins, rising health premiums and the Federal Government’s increase in excise tax.
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The SMH reported on Friday that a Melbourne real estate agent who cheated an elderly man into selling his property to him for half the market value has been jailed for 2 years. Apparently the dodgy agent was commissioned to sell the property valued at $300,000 and ended up purchasing the property himself for $150,000.
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Your property is marketed and advertised across a broad range of real estate advertising websites and although you are getting enquiries they are not converting into offers. What can you do? A property face-lift! This could be the difference between your property and a competing property located down the road and if you are prepared to do a small amount of work then it can be done reasonably cheaply.
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The success or failure of a property open inspection will have a direct result on the effectiveness of your property marketing campaign. A property open inspection with low attendees is not only bad for personal confidence but it can substantially reduce your bargaining power with a potential buyer.
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The rental crisis which has spread across Australia over the past few years means greater competition between tenants when applying for rental properties. There has been talk of of landlords and property managers taking advantage of this competition and holding rental auctions to decide who will offer the best rental terms to secure a property.
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