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Thursday, September 6, 2007
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   Thursday, September 6, 2007

Byron property market, NSW, Australia
The top end of the Bay, similar to Sydney top end (Eastern Suburbs, Harbour side and Northern Beaches) has remained strong even in the recent property downturn. In reality it is another example of the rich getting richer. A property worth $3M that increases in value 10% in a year is still a good return.
In Byron over the last few years, mid level ($500K - $1M) has been fairly stagnant while the top and bottom end has been moving a lot faster. Lately there have been some high profile sales. Paul Hogan's Possum Creek rural retreat sold for over $8 million. A Belongil property also sold for 8 million and a house at Wategos for $16 million. These sales have more or less confirmed Byron Bay as a premium real estate enclave and there is no going back!
Other big ticket items out there;
- House in Brownell Dve, Wategos - $6 million
- Palm Valley Drive, Wategos - - $3.7 million
- 2 Bed house in Belongil - $3.9 million
These prices confirm the obvious, that beach side Belongil and Wategos are premium locations. But it’s worth taking a look at other areas that may move into the top end bracket. I think the Upper Wilson's Creek valley and Broken Head will move into this league. Already there are several multi million dollar properties listed and the number should increase.
- 9 Bed house on 8 acres in Wilsons Creek - $3.45 million
- Koonyum Lodge house - $4 million
- Casa Bali - 4 bed residence in immaculate garden setting - $3.5 million
- Linnaeus Estate south of Broken Head - $3.7 million.
But how does this help the rest of us who still need to mortgage?
There are still a few places to buy that are under a million that I think may see a big capital gain in the next few years. For example, the Myocum hill area has a unique location and could become well sought after. This area, Tyagarah Road, Myocum Road, Benloro Lane, Manse Road and places around there have the advantage of 10 minutes to Byron, Mullumbimby, Brunswick Heads with good elevation. Old houses on small acreage can be had for fairly good value here - $600 - 900K. Then with the possibility of spending 100 - 150K on renovation, landscaping and a pool it’s possible to expect to have a $2M plus property in a few years.

Resources:
www.byronpropertysearch.com.au,
www.realestate.com.au


5 Low-Cost Tips To Prepare Your Home For Sale
Real estate is sold throughout the year but when spring and summer
roll around, one begins to see yard sales going up as homeowners
prepare their homes for sale. The following is a list of tips that are
low in cost and usually require nothing more than a few weekends and
some elbow grease to get the job done.
As a general rule the best time to prepare your home for sale is at
the very earliest point in "spring" (actually early March or even late
February), the time when seasonal buying interest is just starting to
build. However, this rule is not written in stone and these tips
apply throughout the year.
Here are the "Top 5" things a seller can do to increase the final
selling price without spending too much money out-of-pocket.
1) Clean it. Home buyers, it turns out, hate dirty homes more than
just about anything else. So, give the home a thorough cleaning from
top to bottom, inside and outside.
2) Organize it and Declutter It. If the home is too cluttered for the
seller, it probably will look too small for the buyer. Store away all
belongings that aren't regularly used. Store furniture that isn't
necessary for comfortable living. A sparser, less cluttered room
always makes an area look more spacious. This whole process of
cleaning, decluttering, sprucing up homes, and even bringing in
designer furniture to prepare homes for sale has begun a new real
estate industry called "home staging". But a homeowner can duplicate
some of these things by paying close attention to these low-cost items
he or she can do as a seller.
3) Repaint it. Real estate surveys find that a homeowner gets their
biggest bang for their buck by repainting the interior of the home in
bright white or off-white paint. Painting the house in neutral colors
is always a good idea.
4) Landscape it. Mow it and plant it. The exterior of the home is the
first impression that a buyer will get, and it will be a long lasting
one. Now with so many listings being made available on the internet,
pictures of homes on the internet are what many buyers will see first
of a prospective home and the exterior's condition will determine if
they want to take a look inside!
5) Fix it. If it isn't working properly, it usually ends up costing
more at the negotiating table than at the hardware store. Make sure to
pay close attention to any plumbing problems (i.e. a broken garbage
disposal) that may exude musty or foul smells. Today's buyer, with
their busy lifestyles, just wants to move in and get on with their
day-to-day business. If they have to spend time in repairing, they
will subconsciously factor in more than the actual cost at the
negotiating table. Statistics usually show that these costs amount to
about two to three times more.
As the homeowner busies himself with his to-do list of household
chores, keep in mind that the better shape the home is in, the more a
prospective home buyer will be likely to pay for it.


First Time Buyers: Prescott, AZ
The first time you purchase a home there is a feeling unlike anything you have ever experienced. There is a joy that can only be explained by people who have experienced the sensation for themselves. However, this is a purchase that must be carefully planned at every step as buying for the first time can bring some unexpected turns. Getting yourself ready to purchase a home requires much more than simply finding the home you like and making an offer. Buying a home is a complex series of events that has to unfold in a precise manner, so the first step anyone should take is to find out about their credit. Your credit has a lot to do with a home purchase as most people cannot afford to simply write a cheque for the total amount of a home, a mortgage will be required; and that required good credit.
Getting a grip on your finances is a good thing to do at any time regardless of home purchases. Find out what your credit rating is and if there are any items that may be causing damage to it. The better your credit rating is, the better your chances of getting an agreeable mortgage. When you start looking for mortgages be sure to acquire what is known as a full pre-approval. This will pre-qualify you for a certain amount which is handy when you start shopping for homes. Once you have your financing arranged you can start shopping for homes that are within the price range that your mortgage pre-approval has defined.
The next part of the process is definitely the most fun. Try to think about home shopping logically. What are your plans for the future? Is there a family in the works? Kids? Pets? You will need to know these things in order to be able to find a home that suits your needs. In buying a home, forward planning is a must. It can be aggravating if your needs and family outgrow the home you have purchased after only a few years. As you move through this process, remember that if you find a home that fits your needs that you will have to make an offer that is attractive to the sellers, especially if there is more than one party interested in the home. Talk to your realtor about how to ensure that your offer is the one that catches the seller's eye.
Scott Baxter is a long time real estate investor and is also a real estate agent who specializes in Prescott AZ real estate. Scott's passion for real estate has enabled him to become a leading expert in relocation to the Prescott area. Contact Scott today for more information or visit him online at www.prescottscott.com