News


Will you join me in the Garden Suburb?


  Will you join me in the Garden Suburb?             Part of the city of Lake Macquarie, Garden Suburb was created around 100 years ago, inspired by the garden city movement then in vogue in England. The idea was to combine elements of the city and the country and to that end Chinese market gardens and shrubs were replaced with wide tree-lined streets and parkland. The result is a lovely, peaceful area, particularly perfect for raising a family, says real estate agent Natasha McElwaine from McElwaine Estate Agents who recently hit a new record with her very first sale in the suburb.  “That property illustrated perfectly everything I love about this area,” Natasha explained. “It was a stunning home with a lovely garden overlooking a beautiful bushland reserve full of native flora and fauna. It was a place where you could take a step back from the hectic business of life and get back to nature. “I’m all abou...


Selling in Covid-19


  Selling in Covid-19The impact on house sales in the lower Hunter.             What we are seeing is Covid-19 + typical seasonal listing volume = low listings on the market and high buyer competition. This means great prices for our clients.   When the COVID-19 situation eased in Sydney and real estate agents were able to hold open houses again, Phil and Cathy decided to test the market. “We only had three people round but all three were serious buyers, they all put in offers and we got the same price we would’ve before the pandemic,” Phil says.   The couple are now cashed up and looking to leave Sydney and buy elsewhere. Both working in the health service, they can find work anywhere and are completely open-minded about where to settle. “We just want somewhere near the surf or bush, with a decent garden, where we can find our tribe,” Phil says.   There is an exodus of Phil and Cathys leaving Sydn...


Corona Virus and Real Estate: Why prices won't go into free fall!


  Corona Virus and Real Estate: Why Prices won't go into free fall             People have been expecting a big downtown in the real estate market because this is what has occurred after previous economic downturns such as the Global Financial Crisis in 2007. However, the GFC was a financial crisis, whereas today’s situation with COVID-19 is quite different.  First up, according to a new update released by realestate.com.au, this crisis will be comparatively short-lived. Secondly, our banking system is being supported in numerous ways by government to ensure it doesn’t become distressed. In addition, the Australian Banking Association has mandated six-month loan deferrals for virus-hit small to medium-sized businesses to ensure they can stay on track. Plus, the Big Four banks and some other financial institutions are offering up to six-month loan holidays for their home loan customers. These and a range of other meas...


Whats best: Sale or Auction?


  Whats Best: Sale or Auction? The Pro's and Con's of each approach         Not sure whether you should go for a sale or an auction when selling your property? Read on for the pros and cons of using these two approaches. Once you’ve done your research and selected a good real estate agent to sell your property, you will need to decide on the most appropriate method to sell your home. There are two main ways to sell a property in Australia. One is by private sale (also known as private treaty) where you welcome buyers to submit offers to your agent or you represent yourself. The other is by auction, where buyers turn up on a predetermined date and time to bid on your property. Your agent will be able to advise you about which method of sale is best suited to your home and location. In the meantime, read on for the lowdown on these two methods.   Selling via private treaty With a standard residential property transaction,...


Have open homes reached their end date?


  Have open homes reached their end date?             With the Internet age, could open houses be losing their importance? And, anyway, who do they benefit more: the home seller or the real estate agent? Open homes have been an important part of the real estate selling process for many decades, providing would-be buyers with the opportunity to walk through a home and decide whether or not it suits them. Real estate agents used to promote open homes as the most effective way to sell your property because they provided an opportunity for the broadest number of would-be purchasers to see your home. It was said they made selling faster and homes would obtain a better price.   In the days when would-be buyers searched the classifieds section of the newspaper on a Saturday morning and had only a few short lines of copy to read to learn about properties for sale, open homes made sense. Now, however, anyone looking to pu...


The Lowdown on negotiating commission and fees


  The lowdown on negotiating commission and fees.             With so many costs involved in selling your home, you may want to save some money and negotiate your agent’s commission and fee structure. If you do so, here are a few things you need to be aware of. Considering all the costs involved in selling a home – think stamp duty, capital gains tax, legal fees, bank charges and simply preparing your property for sale– you may be keen on negotiating on your real estate agent’s commission and fees. Commission is the percentage of the sale price that the agent receives for selling your property while the fees are designed to cover the advertising and marketing costs. However, agents often structure their fees differently. For more expensive properties, some will use a ‘sliding scale’ or ‘tiered’ commission, perhaps 2% on the first amount and 5% when they achieve anything above that. Others include...