Report from Buyer’s Agent, Buying Perth Real Estate, March 2020

“Perth property prices to rise by 6%”, say prominent forecasters.

Perth has been waiting to hear a positive forecast for Perth real estate since 2014!

According to Core Logic’s head of research, Tim Lawless, the 6% increase should follow the .4% increase experienced in December 2019.

Much of the increase will likely come NOW as a result of the Reserve Bank of Australia’s cutting the cash rate to a new record low of 0.5%.

Some major lenders are now offering rates to investors lower than those for owner-occupiers. This is rare.

We are advising buyers who missed out in 2019 to recheck their mortgage brokers as there are better finance deals around than there were in the latter part of 2019.

If you are considering investing in 2020, start the process now, with the present interest rates at the levels they are now, it’s clear that the finance lenders want your business.

From our observations, there is already a gradual surgent of interest in investing in Perth property.

As a Buyer Agent’s, Buying Perth Real Estate role is to seek out the best investment properties opportunities that the market offers.

In undertaking this, we stress to our clients that we always look for property that has the potential for long-term capital growth paired with an immediate rentability factor.

Sometimes it can take a fair bit of searching to find the home of your choice or the ideal investment opportunity, but that’s how we earn our keep.

We are often able to find properties that the average person hasn’t the time or perhaps the knowledge to locate. Armed with our experience, we’re able to give buyers the confidence to make a move into the market. As a result, our buyers are amazed at our results.

In addition to investors, first home buyers, home upgraders, home downsizers, Australians working overseas buyers are all benefiting from our services.

As a footnote, we strongly urge those who are interested in buying shortly to contact us. In the current market, the sooner you purchase more you will save. Prospective purchasers who snooze for much longer are highly likely to lose by having to pay more in a rising market than what they would have by acting promptly.

For a free consultation, contact me on 0412 926 190, or visit our website at buyingperthrealestate.com.

Clive Elliott, CEO, Buying Perth Real Estate Clive@buyingperthrealestate.com 

In 2020, fear is the new black.

Fear is back. With a vengeance. This time it’s not the economy scaring people, it’s called coronavirus.

The OECD says that Australia may be “one of the worst affected economies” from the coronavirus outbreak. At the same time, another headline screams, “Houses to Hit Record Prices in Weeks”. 

We are already seeing Investors entering the Real Estate market in Perth, after shifting their funds from the share market to a safer long term investment in the Property market. As one investor said, “I have lost big time on the share market cause of the Coronavirus  Scare, but my real estate investments are still returning a regular monthly return and the asset is still good.”

With such varied opinions – and in full knowledge that media often ‘hypes’ a story to attract readers or viewers – how are we to act if we are buying in today’s real estate market? And what effect, if any, will the coronavirus have on the Perth property market?

Well, first, what about “No Chinese buyers”! The percentage of buyers from China has long been over-estimated in Australia, especially in the day-to-day housing market. Homes will continue to sell well without foreign buyers.

Generally speaking, prices in the Perth Real estate market are unlikely to be impacted unless the coronavirus escalates severely. 

Perth real estate values are relatively low, and there’s only one way the market should go: Up! 

People still need to buy homes. Indeed, we Western Australians see our homes as sanctuaries. A home is the one place most of us feel safe.

What will or should change, however, are habits. Just as we are now taking sensible precautions in our daily lives, so must we take precautions in our real estate lives.

The one thing that must stop is hordes of strangers wandering through family homes. As buyers agents, our clients give us a detailed brief, and we do all the looking for them. We present them with recommendations, and once a home or property investment is selected, we negotiate the lowest price possible, following the transaction through to settlement. 

This process is how buyers agents in Perth earn their fee.

It’s incredible how few buyers realise an obvious point: There are 10,080 minutes in a week. And yet, when you want to buy a home, there are typically 30 minutes in a week to inspect most home opens with real estate agents.                               

This is where an experienced buyer’s agent in Perth can save you time and money. We’re looking all the time.

With the coronavirus scare, it’s your chance to appoint Buying Perth Real Estate to do all the groundwork for you, so you can enjoy being home safe with the family.

As a buyer, you probably don’t want to inspect homes with hordes of other strangers – many of whom may be coughing and sneezing.

If you see a home you like, you simply advise your buyer’s agent and let them do the groundwork for you.

As to the big question of whether prices will drop because of the coronavirus and whether you should delay your decision, the truthful answer is: no one knows. 

It’s unlikely, but the more significant point is: if you are a home buyer looking for a family home in Perth, what does it matter?

If you are buying a home and upon consulting with your buyer’s agent, you are confident you can safely enter the real estate market. And, if you intend to live in that home for many years, how will it affect you if, after you buy, your home’s value drops? 

While that may briefly concern you, a price drop will make no difference to your enjoyment of your home.

Buyers often ask: When is the right time to buy? The answer to that question, if you are a family home buyer (not an investor) is this: The right time to buy is when you find a home you love that you can afford. Never mind what is happening in the rest of the world. Focus on what is happening in your world. 

As always, of course, in all aspects – financial and health – your priority should be to stay safe. The only thing we have to fear is fear itself.

The Buying of Perth Real Estate for Wealth, Part Two: Location

In our recent blog, we discussed the importance of property investment as an integral part of growing wealth. 

We also wrote about the potency of appointing Buying Perth Real Estate as your Buyer’s Agent. How it can be a fast track way to building a personal property portfolio; a portfolio comprising of chosen properties with the most favourable terms and potential.

Location, Location, Location

Some properties make better investments than others.

The goal for any buyer should be to get the right price for the right property, not just the lowest price on any property.

To achieve this goal, an accurate assessment of the market value and the rental potential, together with a valued opinion of the location are just a few of the ways a Buyers Agent works in Perth.     

Whether you’re a first home buyer in the Perth area or a seasoned investor if buying real estate in Perth, it requires the attention to areas such as rentals and sales activity.

Whether you are a first home buyer or downsizing or upsizing in the Perth real estate market, it becomes increasingly important to use an experienced buyers agent in Perth.

Location and selection.

As experienced Buyers Agents, we are continually reviewing all areas of the real estate market in Perth and regional areas for our clients. We see the areas where the best property buying in all of Perth are located.

Because of our coveted relationship with so many real estate agents, we find that up to 30% of properties sold aren’t even advertised to the public.

“Why? you may say.” There are plenty of reasons.

Some sellers require a quick sale; others don’t want the expense and inconvenience of going through a lengthy auction process, others  wish to protect their privacy and don’t want weeks of having home opens.

Agents look forward to hearing from Buying Perth Real Estate as they know us as the experienced buyer’s agent in Perth.

They know our clients are genuine buyers and have their finance arrangements organised well in advance to enable a quick and trouble-free sales process.

The agent works and is paid by the seller and they are their top priority while we as a buyers agent work exclusively for the buyer.

we receive no payment from the agent, this way there is no conflict of interest  

Buyers Agents/ Buyers Advocate Fees

Without exception, our clients report that the dollars we save them from our years of experience in negotiating real estate contracts, save them the cost to use our services – sometimes many times over.

Next, we will go through the negotiation process and how it works in your favour. Look out for this blog.

By reading the signs and using our experience, you can tell when the real estate downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

Why property is an essential way to build and hold wealth

Property investment is an integral part of growing Wealth, and there are many areas to explore before diving into or adding to your investment portfolio.

Appointing Buying Perth Real Estate as your Buyer’s Agent is a fast-track to building a Personal Property Portfolio – a portfolio comprising your chosen properties with the most favourable terms and potential. Perth property prices to go upMarket analysts have reported that Perth rentals and sales will represent the best property buying in Australia in 2020. (Core Logic, RP Data)

How a Buyer’s agent works here in Perth 
First, you engage us, selecting us to work for you. We discuss your medium and long-term goals in the purchase of the home of your choice; be it to live in, keep for investment or renovate and flip. 

It is here that the experience of a buyer’s agent in Perth can save you real time and money. 

As a buyer’s agent, we are looking at potential properties every day, continually reviewing investment opportunities for our clients. We have access to off-market properties because of our association with so many agents. Further, we’ve built up a multitude of relationships over the 45 years we’ve operated in the Perth Real estate market. We do all the property hunting and bring to you the prize properties that will fit your budget and criteria.

You may be considering doing all of this yourself. If you’re going solo, here are some of the areas that you will need to cover:
> What to buy
> Where to buy
> When to buy
> Talking to mortgage brokers
> Selecting a settlement agent
> Viewing a range of properties sometimes up to 50 to 60 or more 
> Writing the most effective special conditions on your contract  
> Getting inside knowledge to assist in your negotiation strategy
> Getting building inspections done                                                                                                                                               

These cover a number of the obvious things you must take into account.        As a result, many people delay and watch the market go down. They think it will go even further.                                                                                                                                         

By reading the signs and using our experience, you can tell when the downturn has ended, and when the upturn begins (or began)!

Don’t delay. Contact us for a free consultation. https://buyingperthrealestate.com/buyers-agent/

Who’s on your side when you purchase a property?

If you’re buying property, you may fare better with a Buyer’s Agent on your side.

Using a buyer’s agent to assist in purchasing a property has not been well used in Western Australia to date, but in the Eastern States, using a Buyer’s Agent is becoming increasingly popular.

‘Having a registered buyer’s agent on your team can be a brilliant move because we can invariably buy at a better price than the average home purchaser can do,’ says Clive Elliott from Buying Perth Real Estate.

Clive Elliott is a seasoned real estate agent having operated his own agency for many years. These days, he works primarily as a buyer’s agent.

“The days of real estate agents taking prospective buyers around to homes offered by other agents when their listings don’t match what the buyer wants, have virtually gone,” he says.

“It concerns me that in many cases people who are time-poor settle for a home below their expectations while other people are not strong negotiators, so they end up paying more than they could have,” he said.

A buyer’s agent’s job is to find properties that match the brief from a buyer.

The search made by a buyer’s agent considers the offerings of numerous agencies and sometimes off-the-market properties.

“Many people forget that a real estate agent is paid by the seller to get the best price possible whereas a buyer’s agent, knowing this and having worked in price negotiations, is motivated to work on behalf of the buyer,” Mr Elliott said.

“We can often cover our entire fee and more by having the knowledge of current property values and knowing how to negotiate accordingly,” he said.

With more extensive knowledge than most people of the property market, a buyer’s agent can also source a property for investors with better prospects for capital growth or rental yield and seek out properties being sold off-market’ (sometimes known as ‘silent sales’) which never appear publicly.

“We also help our buyers to ensure they have included the correct conditions in their offer to purchase and when needed, assist them in obtaining suitable finance brokers and conveyancers,

“All up, a buyer’s agent removes a lot of stress from property purchasing, saves the buyer a huge amount of time in searching for the right property, and we invariably save the buyer quite a lot more than our fee for service,” Clive said.

To learn more about how a buying agent works, you can visit buyingperthrealestate.com.au

The Right Time to Buy Your Home is When You Find The Right Home

There’s an expression in real estate for prospective home buyers: ‘The right time to buy your home is when you find the right home’.

An interesting conundrum can arise for home buyers in Australia is when the very first home we find for them perfectly matches what they have described as being their ideal home.

Was it too easy? Are there better ones? An even more perfect fit?

It can be a problem, and the thought has crossed our mind that it might be better to hold off from presenting a buyer with the perfect match to their property requirements because of this dynamic.

While we’ve never done things this way, it can come as a surprise to buyers who have searched unsuccessfully only to have us come up with what they were seeking, first up.

Our recommendation is just this: while we are happy to keep a search going, there is one strong recommendation: ‘the right time to buy your home is when you’re presented with the right home’.

We recommend following your ‘gut instinct’ – if the home feels right, it probably is and, on that basis, it’s the right time to buy.

It can be a tragedy to put it a property on hold when a property feels like it is the perfect fit and then find it sold to someone else. Particularly if we only put it on hold because its discovery appeared to be too easy.

Our job is to find you a home that best matches what you describe to us – within your budget and in a locality desirable to you.

Sometimes the ideal home happens to be found very quickly; other times the task is a challenge.

Whichever it is, when you put us to the test, we take the task seriously and leave very few stones unturned in our search.

First home buyers, home up-graders, home downsizers, investors, Australians working overseas and overseas buyers can all benefit from our services.

Visit us at BuyingPerthRealEstate.com or call us on 0412 926 190 and we’ll let you know what we can do for you.

Information for Expat Property Buyers

Buying Perth Real Estate specialise in assisting Australian expats buyers buy their dream home or investment property in Perth whether you’re in London, Singapore, Dubai, Hong Kong, or  New York, be assured there’s property in Western Australia for you.

Many of our international or expat clients are unaware of the advantages of buying house in Western Australia while they are still overseas. This allows them to get ahead of property growth cycle and capitalise on our excellent investment opportunities even if they’re not yet on Australian soil.

Buying Perth Real Estate advocates are up-to-date with the latest research and the trends of our local market giving our overseas buyers in-depth localised information on choosing properties with the best features and capital gains potential. Were also able to give our overseas buyers access to both on and off market listings and provide them with information that not even local buyers have access to. We will be your eyes and ears on the ground searching for homes and properties in Perth and general areas throughout our State. Using our expert negotiation skills, we can also save you a packet when it comes to buying a house and securing it ahead of other buyers. We delight in helping you invest in property in Western Australia.

If you’re an international buyer looking specifically for investment property, we will advise you on the the most appropriate suburbs and the brief you on all aspects of properties research to ensure you make an informed decision. We are consistently researching local investments hotspots and can deliver a range of properties to suit your specific investment acquirements whether they be for capital growth or positive cash flow. We have contacts throughout Western Australia and have excellent links to opportunities in all other States of Australia that can assist in the search of quality investment property. We are flexible and able to meet your specific requirements. We will also assist with the coordination of all support services relating to a purchase. We will communicate with you at every stage of the process.

Investing in Perth real estate while living overseas is a difficult process as you need to keep up with the local trends, understand the local market, know how local agents operate and decide which properties that are currently on the market will meet your requirements.

The Perth market is made up of a number of submarkets that we protect foreign buyers from paying too much or buying the wrong type of property. Buying Perth real estate provides an independent advice and assistance to foreign investors and homebuyers with permanent resident status to navigate the property market.

Foreign investors (non-resident) must buy a brand-new property, or buy land and build, within two years. Buying Perth Real Estate property understands the local market and has access to the new and hidden listings that may be suitable to you. We can show you the suburbs that have the best lifestyle, schools, entertainment, sporting facilities, investment potential and other key features you desire.

We count it a privilege to assist international buyers purchasing property in Perth from their locations abroad. Purchasing property in the Perth real estate market has provided a substantial capital growth over the long term. We research extensively to source properties that meet your needs and lifestyle. Every international investment opportunity is assessed against dozens of factors including local market conditions, comparative sales and property and the property’s condition. We can also access many listings before they come on the market so you can reap the reward of the silent sale once you’ve decided upon a property we negotiate directly with the real estate agents or owner to secure the lowest possible price saving you time and money and stress

There are many conditions that must be adhered to when purchasing real estate in Australia. Buying Perth Real Estate will forward to you the lengthy requirements for foreign buyers (non-residents), by request.

“In any market, in any country, there are developers who make money. So I say all of this doom and gloom, but there will always be people who make money, because people always want homes.”

Sarah Beeney

Professional Help With Property Negotiations

Buying a property is usually the most expensive purchase your make in your life and it’s not something you do every day of the week.

Unless you’re a Buyers Agent!

There is no doubt having a skilled property negotiator on your side can save you thousands. And save you the frustration of missing out at an auction or private treaty negotiations.

The selling agent does not work for the purchaser in the real estate negotiation as they are working for the vendors. An independent buyers advocate will work for your best interest at heart to take a firm but fair approach to negotiating the best outcome for you. The buyers advocate provides a buffer of protection between you and the sales agent so you don’t end up paying too much.

Our appraisal and negotiation service is ideal for those who enjoy the search but want to bring the experts to get the true market value of the property and know that they can secure it at the right price through expert negotiation.

We establish the true market value of your chosen property by conducting a detailed analysis using our local knowledge and access to extensive sales databases.

Buying Perth property provides an objective and unbiased view on the property is true worth and removes the emotion from the buying process. This coupled with our expert negotiation skills means our clients can save tens of thousands of dollars (far in excess of our fee).  Buy with confidence and pay the right price every time.

House price negotiating is an art and requires considerable skill to get the best possible result. Trust our expertise to appraise and negotiate your next property at the right price. We understand the mechanics and skill involved with negotiating house pricing and understand how the sales agents operate. We know how to present offers at the right time and in the best possible method to put our buyers to the front of the buying queue.

We offer a fixed fee for a negotiation services so you can be confident there is no bias and our negotiations and know your costs upfront basis

Looking To Buy A House In Perth?

Our methodical six-step process to buying property in Perth has proven to be hugely successful for our clients. As professional property buyers, we understand that a home is a very personal choice and not all your criteria can be explained by logic – it must feel right too.

So we work with not only what we call ‘hard criteria’ such as the number of bedrooms, bathrooms, the suburb you’d like to live in and so on, but also ‘soft criteria’ that include quality, style, spaciousness, street appeal and the like, that can also influence a final decision for those looking to buy a house.

To assist with the process, we may ask you to send us examples of WA homes you like the look of so we can get a clear idea of what feels right for you. At the same time, we want to ensure your home stacks up as a great investment so you can benefit from good capital growth should you wish to sell your home.

By acting as an independent property buyer and holding steadfast to a set of agreed criteria, we effectively remove the possibility of making a wrong decision based on impulse or sheer frustration and which you might regret down the line.

Instead, we’re applying the unrivalled knowledge that we’ve accumulated over the years to give clients a decided advantage at all stages of the buying process.

For more on the process of Buying Perth Real Estate, click here.