Ask a local real estate agent any question

Hi JackieWebb,

I love your enthusiasm.

In your opinion, what is the demand like in Clifton Springs for developments such as Units, Villas and Townhouses?

I get the feeling the demographic has a fairly high proportion of singles and retirees that may be wanting smaller sized dwellings rather than full-blown houses. Is that accurate? Obviously you are in the community and I would value your comments.

Kind Regards,
Brett

Hi

We live in a row of 4 Victorian houses and have put our place on the market. The house 2 doors down has now also listed with same agency, different agent and are now auction week after us. They are even trying to have inspections at the same time.

Ours is our prime residence the other a rental investment house where tenant has gone and they just painted it and put in rental furniture. Ours is much better finished and has an extra $200k being put on it but is basically same style homes. I think it will work against us as they need to offload it

Would you go to auction first or after? And your general thoughts on the matter.

Hi BlueBam,

Clifton Springs is a growing area and I feel developments such as Units and Townhouses will sell well. This will also depend on the area of development, views and quality of Unit or Townhouse. We have great views in Clifton Springs and feel buyers are prepared to pay for the right property with a view. Most elderly people would love a smaller home with a great view, however don't like stairs either. Finding the right block is also difficult in Clifton Springs as we have sloping areas.

To answer your question, I do feel Units and Townhouses are needed, but depending on the location, views etc.. I would be careful with over capitalizing with the properties. If you can achieve a block with great views then build to the view and you could put better quality applicances etc into it, because they will be at the higher end of the market anyway. If you buy a standard block, then build a Unit, but maybe with a little quality, but also a little bit bigger in size for those that are not ready to downsize too much.

I hope this helps you some. Cheers Jackie

Hi dragontrend,

This is a difficult one, if the agency you listed with have also listed another property two doors down similar to your own, I feel they should have advised you of this and explained what is happening and why. If you are listing your property $200K more, it sure should be a great deal better than the one two doors down and your agent should explain to you why the other property is so cheap. To do inspections at the same time is in my opinion not in your best interest. Your property should attract buyers looking for a better type of home than the one they would be looking at two doors down.

My advise would be (and this is not knowing your financal situation); take your property off the market and let the other property sell at Auction. Then get the agent to come back and explain how the Auction went and what price they got for it. Also ask the question to the agent "are there any buyers that were interested in that that would be interested in your property",depending if they were looking for a better home. I would wait approx. 1 month after the Auction, then list your home. Did you get any other agent into your home for a Market Appraisal? Have you seen any sales statistics to confirm the price you have been given that it would sell for? What prices have other homes sold for similar to yours. These are questions you will need to know to determine yourself if the price you have on your property is market value. That then will help with your question; the other property two doors down did sell cheap etc. and yours is worth the money you have it listed for and buyers will see that.

I hope this has helped you in some way. I would like to hear the outcome. Cheers Jackie

Hi Dagontrend thought I might add my two cents worth! hope you don’t mind Jackie.

Here is my hard hitting honest opinion if you are interested.

My initial reaction to your storey is that you realize the home a couple doors up represents better value for money and if you see that then buyers most certainly will! I agree with Jackie about withdrawing your one from market until the other one sells, the last thing you want is your home languishing on the market with a “lemon” tag because it hasn’t sold.

In regards to your expectations of $200k more than your neighbour and your admission that they are virtually the same property but yours is finished better,
My experience has taught me that NO identical property is worth $200k more then another no matter how better finished it may be, buyers are much better educated these days all information available to agents is now available to buyers with the internet so when the other property sells for $200k less buyers will know and compare value with yours, fact of the matter is you can do a hell of a lot with $200k buyers would probably prefer to use that money (or less) to spend on the neighbours and they can spend that money to renovate to there own tastes and not someone else’s.

It is also my experience that in 15 years of real estate I have yet to come across an owner that is prepare to sell there home at any cost desperate or not owners that are desperate still want top dollar they just put more pressure on the agent for a result sooner rather than later, if they are “offloading” it as you described
Then they would still expect market value no owner says to the agent “ just give it away” and if they can afford to own an investment property then they must be financially sound, rest assured whatever the neighbours home sells for will be fair market value and not “Cheap” buyers still have to compete to own it.

My advice is to commission an independent valuer so you know what your home is really worth and then armed with that information make a decision whether
Or not you are prepared to accept market value or keep it.

Also if your neighbour’s property is an investment it makes sense to me that they are looking at the transaction as purely commercial, unlike an owner occupier who has certain memory’s such as raising kids in the home etc... a home is always worth more in the owner occupier’s mind for this reason and they know and understand the intricacy’s of the property such as inclusions that they value that buyers may not.

I am interested in who set the price on your home? Was it you or the agent?

If it was the agent how did he justify the $200k extra?

Don't mind at all Adam thanks for your opinion. Jackie

Hi my family and I are thinking of moving to Melbourne next year. We need a 3 bedroom and study or 4 bedroom house. We also need somewhere for the kids toys (whether this be a formal lounge if family room large enough or rumpus room.) Somewhere close to a good public school would be good. We would only want to spend up to 450,000 to 460,000. I was wondering what areas would be good to consider? Thank you.

Hi Kewarra,

Your price range of $450,000 to $460,000 will certainly buy you something very nice in the Drysdale and Clifton Springs area. Finding something close to schools and parks however will depend on what we have available at the time you are looking to move here. May I suggest you email me your specifics of what you are looking for and approx when you will be moving here and I can put you on my database and keep you up to date with current listings in your price bracket and specifications. ([email protected]) Areas to consider would be funnily enough as in your name; Kewarra Drive, Jetty Road, Yarramundi, Mirrabooka, Maraboora and all around that area. Drysdale area around Clifton Springs Road, Nash Ave and around to Bennett Street would be a good area keeping close to the local Drysdale public school.

I look forward to meeting you early next year and helping you find your home in this area.

Take Care

Doh I forgot to meantion it needs to be about a 30 minute commute in to the city as that is where the hubby will more than likely have to work.

Hi again,

Both Clifton Spring and Drysdale are approx 20 to 30 mins from Geelong so no worries there.

Hi Jackie,

I am in transition moving back from HK to Australia (35 years away) because all my adult kids live here now. I want to buy a property over the next 12 months. I'm fussy. Probably many are. I also don't have alot of funds. I'd prefer to stay around the 500K mark. My take from my research is that if I want a 2 bedroom 2 bathroom place with an outside area, open plan and the biggest size I can get (prefer high ceilings also), there is better value down the road in getting a little house rather then an apartment It seems there is not such a big difference in price. My question to you is which area / suburb can I get the best value / size for my purchase? I can basically be anywhere from Port Melbourne all the way out to Cheltenham drawing a big circle and encompassing all those suburbs inbetween.
Thank you kindly for offering your expertise and willing to share with those of less still learning.
Take Care
Andrea

Hi Andreagail,

Unfortunately I don't cover the areas you are considering returning to from HK. I am in the Bellarine Peninsula area, Drysdale/CliftonSprings, Portarlington, St. Leonards, Ocean Grove, Leopold. I would have said that $500K would buy you a very very nice townhouses with money left over here on the Bellarine. Ocean Grove is a more expensive area as they have the ocean. Bellarine Peninsula is about 20 mins from Geelong. If you check out our area on the map and feel this might be a place you could live I would be more than happy to help you.

If you continue to look on realestate.com you can set up to have email alerts sent to you with what you're looking for, type in the area, price etc. and this will keep you posted on properties coming onto the market, they get sent straight to your email.

I hope this helps and good luck with your move, call me if you decide to come look around the beautiful Bellarine Peninsula.

Jackie

Hi Jackie,

Would love to get your thoughts on this Topic: RE Market conditions:

http://localvoices.realestate.com.au/victoria/forums/current-real-estate-market-conditions-in-victoria

AJ

Hi Jackie,

Just wanted to share with you about the life-changing Tony Robbins event next March (if you have not heard about it already).

Full details are available at http://unleashthepowerwithin.net.au/.

So many Real Estate Agents have already registered for this event, so thought I'd throw it out to you, for what it's worth.

Luke

Hello Jackie,

First of all, thanks a lot for your help!

My question will maybe seem to be a bit specific.

Actually, I am living in Hong-Kong but me and my husband are thinking about investing in a flat, Melbourne, Victoria.

We are however a bit confuse: some advertisements precise the size, other give the floor plan, when some just tell how many bedrooms there are. Quite difficult to compare the offers!

How is compete the floor area for the real estate (so, the one for which we will be charged!). Do I have to ask the seller to precise the area of subsidiaries as balcony, ..., or they are excluded from this computation?

Thanks and Regards,

Zhao Wenwen

Hello Wenwen,

Thank you for your enquiry. Hopefully I can help.

When your looking on the Internet at properties you will find different agencies will list their properties differently. Some will give you the floor area "living space" of the building and others will give you the total total floor area "under roof line" which includes deckings, balconies and garages etc. of the home. Usually it will be listed for the floor area "living space" which won't include balconies and garages. You will need to contact the agent and ask to be specific with the floor area. You can do this from the realestate.com website under contact agent tab.

I hope this helps and good luck!

Jackie

Hello Jackie,

Thanks a lot, I will therefore ask the agents for more information about it.

There is however still one aspect that remains a bit unclear to me: the question of the common area. When I buy a flat, do I automatically also buy a proportion of it? I think indeed that it will be assumed that we buy a proportion of the land, isn't it?

What is considered as part of this common area, excluding the one purely private so?

I thanks you again for your help! Investing in real estate in always a significant investment, and the difference of legislation adds to the difficulties!

Zhao Wenwen

Hello Zhao,

Buying property that has a "Body Corportate", or now known as "Owners Corporation" is different from purchasing a seperate land title. You are buying what is on title which is usually a parcel of land that the property is on; but not including the common areas. Common areas are shared areas, such as driveways, garden beds, carparking etc. These are usually not on title, but called "common areas". This area is shared between all owners and paid for with fees called an "Owners Corporation", this will include such things as; Insurance on the common area, power for any lights in the driveway, garden maintenance etc. This is usually handled by an agent.

If you are buying a flat in a multi-storey setup, this again is different. You are only purchasing the Flat and nothing else, but are still responsible for the common areas. Again usually by a yearly fee setup by the agent to cover the costs of all common areas.

I hope this helps. If you need more information on this, it might be best to contact a Melbourne agent to go through the finer details with you.

Cheers Jackie Webb

Hi Jackie..any ideas for me on this one...http://localvoices.realestate.com.au/victoria/forums/country-victoria-where-is-best

Hi kbrown,

Depending on how far you are prepared to commute to Melbourne, anywhere on the Bellarine Peninsula is ideal. We have lovely rural aspects as well as built up community areas. Schools around this area are great and plenty of choice. You will be able to pick up a nice 3 bedroom home on a block from 580 up to approx 800m2. Any larger block of 800approx + would cost more than the $350,000.

Go to realestate.com and type in the following areas and search each area to see what you think; Clifton Springs, Drysdale, Portarlington, St. Leonards, Indented Heads. From any of these areas you are only 20 to 30 mins from Geelong Train Station. We have many people that commute to Melbourne from here. Clifton Springs/Drysdale has a good shopping centre, Portarlington is a tourist area and has shops but no large supermarket, same as St. Leonards and Indented Heads.

If you are looking for a block of land larger than these blocks, you will need to go further out of Geelong to a more rural area, but with saying that you won't have a close school or shopping centre nearby.

I hope this helps and if I can be of further assistance, just ask!

Jackie

Hi Jackie...my daughter has just moved to Melbourne for work. She is having trouble getting to real estates and open houses. Do you know of any agents that help people to find rental accom arround st kilda, richmond, brunswick, fitzroy??

Cheers liz

Hi Jackie, it's good that I have found your thread. My name is Rory and I am also an investor for 19 years.

Glad to meet you here and hope to discuss things with you.

See you around.

Hi Jackie! Hope you're still answering Q's!
I'm a few months off moving interstate, but my partner is about to get a rental for him to move into, and then I will move in shortly afterwards. As I'm interstate I'm unable to be there to inspect and sign any lease agreements so am wondering if I want to be on the lease is there anything I can do? Or will I have to wait til I move over and ask for a new agreement to be written up?
Thanks!