Holiday Rental Management on Phillip Island

Holiday Rental Management

Are you happy with your holiday rental property management?

Are you thinking of turning your home into a holiday rental?

Beach Holiday Homes Phillip Island offers a professional and personal care holiday rental management service

Benefits to you the owner:

It is well worth considering when you have a holiday home sitting without being used often. Some extra income for you.

Contact Dianne on 0408 034 080 www.diannerayrealty.com.au  www.holidayyhomesphillipisland.com.au 

Are you thinking of buying or selling a holiday investment home?

When I returned to Phillip Island about twelve months ago, I noticed homes for sale have been on the market for a long time. My aim in real estate was to be able to decrease the number of days on market. You will have noticed,  properties that have been on the market for quite some time have sold. This is good news for the seller or the home owner who is contemplating selling. Of course with e sun out, warmer days and summer approaching this entices people to consider purchasing a holiday home.

You may find below some interesting real estate statistics  – After years of doing it tough following the global financial crisis, holiday homes are starting to pick up again in value, according to property data firm CoreLogic RP Data. This is good news for sellers on Phillip Island.

Holiday homes are usually seen as a discretionary asset so in bad economic times prices slump.

“From 2008 all the way to 2013-14 most of these markets were tracking back in value, but now we’ve been seeing for at least the last year that demand is coming back,” CoreLogic head researcher Tim Lawless said.

A recovery in people’s personal wealth, healthier share portfolio’s and substantial rise in Melbourne and Sydney property prices were prompting purchasers to splash out on a beach home, he said.

Property within easy commuting distance from big cities was the prime target.

The latest housing sentiment survey by CoreLogic & TEG Rewards concluded that almost 70% of Australians  think now is a good time to be buying a dwelling,  despite dwelling values moving out of reach for many as the housing market broadly approaches four and half years of growth.

CoreLogic Head of Research Tim Lawless said, “Perceptions around selling a home have weakened over the past twelve months which is likely attributable to slower housing market conditions across many markets.

The CoreLogic-TEG Rewards housing market sentiment survey also explored views on which direction dwelling values and rental rates were likely to head over the next twelve months.  The majority of survey respondents are expecting dwelling values to remain steady over the next twelve months, with Tasmanians the most optimistic about the direction of value growth over the next twelve months.

Hope you have found this interesting information. I will continue with more information about selling your property in future Di’s Corner Chat. Information in this article has been sourced from Corelogic.

Please contact Dianne for your real estate needs.
Contact her on 5952 5480 or 0408 034 080
http://www.diannerayrealty.com.au

IS IT BETTER TO ADD VALUE TO YOUR HOME OR BUY A NEW HOME?

Your home is outdated and you’re trying to decide if renovating is your best option, or if you should sell and move to a new property. I get this question a lot from home owners. “If I add value to my home would I be able to sell for more, including all the costs in renovating or am I best to sell as is and buy a new home that suits our needs? My answer is; “if you are happy in your location you are best to stay and renovate. If the home does not suit your needs, you are best to sell and move on”.

There are many factors to consider when deciding whether to renovate or buy a new property. To help you decide, there are three important steps to follow to help you reach your decision.

  • Be really clear about the type of property you want.
    This requires you to think about your immediate and future requirements. Whatever your needs, you should compare and contrast them with your current home to help identify any major gaps or shortcomings.
  • Compare property values in your street and suburb.
    This is a very important step. This goes to the heart of assessing how your property stacks up against everyone else’s, and whether there are any major price differentials. The reason for doing this is twofold. Firstly, to help you decide if it’s worth putting the time, effort and money into renovating, and secondly to help reduce the likelihood of over capitalising – that is, spending too much on your renovation.
  • Do your sums
    Once you’ve completed steps one and two, it’s time to start crunching some numbers and prepare a budget. Doing your sums is the financial side of the equation, and is all about letting you know what you can reasonably afford – which in itself may determine your best option.

Whether you renovate or sell, it is often a balance between what best fits your personal lifestyle needs, what’s affordable, what’s less disruptive and what gives you the best chance of long-term capital growth. However, if you plan to sell your property within the next one to two years, be very mindful of undertaking a major renovation project – you need to make sure you can at least recoup the cost of your investment.

If you would like any real estate help or advice, please contact Dianne. Contact her on 5952 5480 or 0408 080 034 www.diannerayrealty.com.au

How to Sell Your Home for More!

 

Sell-for-more

How to Sell Your Home for More!

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How much is your property REALLY worth?

 

Confused_man

Okay.  It’s been an interesting 12 months with its fair share of economic triage.  There’s been speculation about everything from employment, inflation, the price of gold, interest rates and the value of real estate which many would say is where the whole mess started.

Of course the banks are in the cross-hairs for approving loans with repayments that could never be sustained.  But the media who crucify them daily seem to overlook the millions of homeowners who took the plunge, bought and now own real estate they never could under current qualifying rules.

But I digress…

What does the next year hold for property owners?  Will our investments, including the sacred roof over our heads, be worth more or less a year out from now?  It seems the answer depends on where you are.   Canada officially went into a recession and is out.  The US went into a bigger recession and if you go state-by-state, many are still in one (unless you want an apartment in Manhattan which is ‘boomtown’ right now).  Australia never officially went into a recession and prices are great in some areas and down in others depending on supply and demand.  New Zealand just won the gong for being the most non corrupt country on the planet so needless to say everyone wants to live in the jewel of the South Pacific so prices are strong in major cities.

The US Government bailout looks to have worked, however the long term effect of this on the economy is unknown.  Debt levels in the USA have never been anything like where they are today and we’re talking about a country spending more than one billion dollars a day fighting two wars.  The strength of the US dollar and trending inflation are the two big question marks.

General economic views confirm we can look forward to slow and steady growth but I fear this gives false hope to property owners who really want to sell but are holding out for the next big boom.  In fact, an increase in bank mortgage rates is usually followed by a softening in prices.

The best advice I can offer is to speak with your local real estate professional and get a solid local opinion.  Every area and every market is different.  Only your local pro knows.  Click here to arrange a current market opinion with the recommended real estate professional in your area

 

Article By Ray Wood.
Founder & CEO of Bestagents Real Estate Group