As of the 1st of July 2013, reported articles have made agencies and the public aware of a significant cut for first home buyers, but not for the better.
Mid this year the Victorian Government will again be changing the first home buyers grant and stamp duty rate, entirely removing the grant for an existing home purchase and reducing the stamp duty rate by 40%. Although it is positive that people looking to enter the property market can benefit from the 40%, overall it does not provide adequate assistance for an existing home purchase. These changes will see the $7000 grant removed for established homes and an increase for new homes to $10,000.
Enzo Raimondo, CEO of the Real Estate Institute of Victoria, recognised this as a big blow to the first home buyer market. He noted that statistically approximately 70% of first home buyers in the March quarter purchased an established property, despite the stamp duty saving of purchasing a new home. Managing Director of Integrity Real Estate Bill Verhagen said, “A certain percentage of first home buyers prefer to buy an established home and move in, rather than going through the process of building. Most of the time they’re able to find a decent home suitable for their needs within their set budget.”
In theory, cutting the stamp duty rate for first home buyers looking for a new home is a viable strategy for government assistance which in turn helps stimulate the building industry and the property market, but it’s questionable and likely to severely reduce the enquiry on established properties. It is expected with this knowledge that the second quarter of 2013 will see many first home buyers look to move forward in purchasing their first home before July 1st. A stamp duty reduction should offset the loss of grant provisions, and in a perfect world new home owners shouldn’t be subject to stamp duty fees whatsoever. But with these new laws the lower market range, specifically sub $400,000 homes, may see a significant drop in enquiry rate for first home buyers.
First home buyers looking to take advantage of the current grant available should seek advice from their financial advisers, lending institutions and local agents to secure the best purchase for their budget and take advantage of any financial government assistance before it’s too late. New home owners looking to purchase in the Yarra Valley and surrounds will be surprised to note that you can still buy existing homes on good size allotments for under $400,000. Integrity Real Estate has prepared a buyers guide to help those entering the market, we wish you all the best with your property portfolio for 2013.
Buyers Guide: http://realestateyarravalley.com/buyers-guide/
Team at Integrity Real Estate.
From time to time, properties are listed in the prestigious Chardonnay Views Estate, located on the outskirts of Yarra Glen just after the turn off to the Yarra Valley Racing Centre. Even though it is slightly removed from the central hub of the township, it is still within walking distance to all the shops and amenities through the extensive Yarra Glen walking tracks. On a quiet warm evening you will find locals such as Mr. Wheeler and Mr. Brewster taking a pleasant stroll through the cul de sacs surrounding the park, as well as couples and families walking the dog as they take some snags down to the McKenzie’s Reserve for dinner with friends. Yarra Glen is truly a friendly community based town.
From the Chardonnay Views Estate one can take many of these walks accessing trails through the reserve and school. Keeping fit in Yarra Glen is easy as you take in the beautiful views of the surrounding mountains and listen to the birds sing as you walk. The estate has only one entrance and exit which makes it quieter than most housing estates as far as traffic is concerned. Parents feel their children are very safe playing and riding their bikes around in the knowledge that it is not a traffic thoroughfare. It is easy to get to know your neighbours and have a chat over the fence, even though every house is different, each resident takes pride in their gardens and the presentation of their homes.
To be able to access a great shopping complex so close to your beautiful home, less than two minutes drive from the estate, is a real bonus. With a butcher, bakery, bottleshop for the nights you want to entertain your friends and family and a very well equipped Supa IGA supermarket which includes a Lenards chicken section, you will find that you will not want to travel anywhere else for your food and entertaining needs, hence saving on petrol and the kids saying “are we there yet”. There is also a newsagent, chemist, hairdressers and a variety of gift and specialty stores, also the Yarra Glen Grand Hotel is a great place for the family to go for dinner. The new Chocolaterie is just 3 minutes drive up the road from the estate for those with a sweet tooth and like anything to do with chocolate. All this at your doorstep and living on the Chardonnay Views Estate, you will never want to leave.
(Re-posted article from 2012).
Integrity Real Estate Property SOLD in Dixons Creek 2012.
2012 is now starting to wrap up with only a couple of months left before we see those New Years fireworks. Reviewing the market over the past 6-8 months we have noticed a number of vendors attempt to sell their property with agents who undercut their commissions and list the property at a premium price. Although this may seem like a positive move for the seller, realtime market performance shows a different result.
Agency overheads are the highest that they have ever been, and great real estate agents will show you why, because the old saying ‘you get what you pay for’ has never been more true. If your agent representing you in the sale of your home lacks the ability to successfully negotiate their commission rate in order to market your property at its best and to the best of their ability, then when it comes time to negotiate and finalise a sale, how effective and professional will their service be to secure the best possible result?
How advertising is initiated for a property is very important, and a lot of people have fallen for the trap of ‘free marketing’. When your property finally goes live on the web, the photos seem dull, crooked and dark. Now although you might be thinking, but my property is listed at a great price! But think about how it looks to the buyer. First impressions are very important in many aspects of life, and the same applies to real estate. If your property isn’t grabbing the attention of keen buyers at the right price, something is wrong. Integrity Real Estate has achieved results time and time again advising our fantastic vendors on the best way to market their property, and where some agents haven’t succeeded, Integrity has prevailed.
If you’re currently selling your home and your agent isn’t providing you with the right feedback or advise, make that conscious decision to evaluate their performance. Perhaps that other agent that valued your property charging that little bit extra, might be able to do that little bit extra, so give it a try!
Wishing our clientele and friends all the best for the remainder of 2012.
Team at Integrity Real Estate.
Hi Bill and William,
Many thanks for a quick and easy sale. Please find below our testimonial:
“Integrity by name, integrity by nature. From the start we found Bill to be straightforward and honest. There was no hard sell and Bill was professional throughout. William also did a fantastic job on the marketing side and I think that all this, combined with the great photos, led to the easy sale of our Steels Creek property within 1 month of putting it on the market. Very satisfied, highly recommended!”
— Janet & Scott McLean, 03 February 2013
Dear Bill and William,We just wanted to take this opportunity to express our gratitude to your company and congratulate you on selling our Kinglake property in less than a month! (Especially during a time when the market is not the best -and the weather is worse!!) We were exceedingly impressed with your professionalism and the constant contact and feedback you gave us throughout the whole selling process. Integrity Real Estate gave us personalised care and attention and your fees are very reasonable and competitive -especially in light of the level of service you provide. You did everything you said you would and made us feel that you were really working for us. ‘Integrity by name and integrity by nature’.We are also very happy to have given Integrity Real Estate the management of our rental property and are sure you will handle it with the same amount of care and professionalism as you did the sale of our house. We have our own building business and have had dealings with a few real estate agents over the years but none have matched the level of service from your company. Integrity Real Estate has been a breath of fresh air in comparison to the inefficient, apathetic and often incompetent service we had become accustomed to of late. We have already recommended your company to a friend and will continue to recommend you to others. All the best for the future.
— Thomas & Tessa Libreri
To whom it may concern:
Re: Integrity Real Estate
I am writing this letter to express our utmost appreciation for the outstanding service and professionalism demonstrated by Integrity Real Estate as we first sold our home, and then purchased another. Bill understood our needs, qualified legitimate buyers for our home, arranged tours through our house at times that fitted in with our young family and was completely calm and reassuring throughout.
Bill acheived a sale of our home within 21 days, and the sale price far exceeded our expectations. Not only did he come to us with one firm offer, but two!! We could not refurse and have never regretted the decision to sell our first home with Integrity Real Estate. Nothing was too much trouble, and even with young children, the selling proces was easy!
Shortly thereafter, Bill assisted us to source our next home. He listened as we outlined our needs and helped us to find the right home which suited every member of our family. He helped us with a mortgage lender and we always felt that he put our needs first. We purchased in Yarra Glen, with a settlement on the same day as our property sale. It ran like clockwork and we all love our new home.
My family has lived in Yarra Glen for nearly forty years, and I have no hesitation in highly recommending the team at Integrity Real Estate for any future real estate requirements.
— Kate & Chris Harrap
To Whom it May Concern,
I am writing to give Integrity Real Estate my highest recommendation. I cannot thank you enough for your honesty, integrity and hard work devoted to achieving a sale for my property within three days.
It was a truly remarkable result which I can honestly say I was informed throughout the whole process. I knew it was meant to be purchasing land through your agency and was very happy with the way Bill and William conducted themselves, they were very friendly and informative. To be able to sell my home within such a short period of time so I could secure my dream property in Murrindindi was a true blessing.
The way Integrity Real Estate markets and sells property is of a high standard, embracing modern technologies and combining that with personal experience and local knowledge to ensure a smooth hassle free sale for the price I wanted.
Anyone looking to buy and sell property throughout the Yarra Valley I highly recommend Integrity Real Estate as my number one preferred agent.
— Zoe Havers
To whom it may concern,
We recently sold our home in Yarra Glen, and decided to use Integrity Real Estate. The property was sold within a month for a fantastic price. Throughout the time of being on the market, Bill and William kept us informed at all times of any interested buyers.
We have no hesitation in recommending Integrity Real Estate for anyone considering selling, the service was excellent.
— Matt Burke & Melissa Van Der Maat.
Dear Bill and William,
We both Jason and myself Paula would like to thank you both for all your hard work and for being honest and true in everything you did in selling our home. We were previously impressed with you Bill when we bought the home off you originally, so we were pleased that you had your own Real Estate and we had you to deal with selling it yet again.
We think William is a chip off the old block, a well presented and polite person, we wish you both all the best with Integrity, shall always keep in contact with you.
Our very best regards,
— Jason Benz and Paula Hoole.
Dear Bill & William,
To thank you, for the selling of our Coldstream property. Your hard work, kindness and thoughtful handling has been much appreciated by both of us.
With kind regards,
— Willy & Kees Hamelink.