Here we go folks hold on to your hats because the next 12 months in the property market is going to be an interesting ride.  We have just had another interest rate cut from the RBA which now has the cash rate sitting at 4.25%.  In a previous post I was saying that with the banks dropping fixed rate loans to below 6% we may be in for some great cuts through the next 12 months.

What does this mean????

Ok now for the rocket science part…  If you are renting a house for $450.00 per week and you can own your own home for the same amount of money and not be paying off another persons retirement plan what do you think you are going to do.  Well ok let me re-phrase that.. What is the smart thing to do??

Yup you got it,  go and buy a house now before the lower priced homes once again become to expensive for you to afford.

So what if it doesn’t have the flashest bath, kitchen or shed and the house you are renting is sooooooooo much newer.  You will have your own place and a place you can do up and in a while rent out and use the equity to get your next house and then do that one up and rent it out and so on and so on until you have a bunch of homes, retire at age 45 and feel sorry for all your mates who are still suffering from the I MUST HAVE IT NOW SYNDROME, while you spend your weeks traveling around the world on a 65ft yacht writing novels.. Ok so that is my dream soon to be reality, but dam you have an imagination so think of the possibilities.

For all those out there that are already on track start looking very seriously at the bargains out there and start buying.  Rents are not coming down in a hurry and look to be going up.  I have seen properties in the last week that can be neutrally geared.  Remember that you can buy as many of these as you like as long as you can make the equity in them for the next deposit.  A small amount of work to some of these properties will see great returns.

Arm yourselves with the right information to make the smart decisions.  There are loads of internet sources and books out there written by people who have done it or are doing it and you can always contact me on phone or email.

What ever you do don’t just stand there doing nothing or you may miss the boat….

Written by Jay Longden

The Flying Agent

 

CONSUMERS are stubbornly refusing to loosen the purse strings, bolstering the case for a rate cut by the Reserve Bank next week.

But a growing chorus of economists say the central bank’s final decision will hinge on events in Europe over the coming days.

Many of the nation’s leading economists are tipping the Reserve Bank will lower rates by 25 basis points on Tuesday as “insurance” against further volatility on global markets over the Christmas period.

Retail spending in October climbed only 0.2 per cent to $20.9 billion and fell in the department store sector, where sales have tumbled 3.3 per cent over the past year.

Economists had expected retail spending to rise at twice the pace in October.

Food and clothing retailers were the strongest performers, while sales in Victoria showed weak growth.

Building approval figures were also worse than analysts had expected in October, dropping 10.7 per cent.

Economists said the data would in itself be unlikely to influence the central bank’s interest rate decision.

The RBA is widely tipped to drop rates if the recovery in stock markets that started yesterday is derailed.

Citigroup economist Paul Brennan said the “path of least regret” for the RBA would be a 25 basis point cut next week.

The ANZ yesterday moved its forecast for a February rate cut forward to Tuesday.

329 Blunder Rd, Durack

59 FLINDERS CR, FOREST LAKE

All Properties Group agent ils townley says that the general rule is that a pool can add $20 000 to your property. If it is a IP, don’t even consider a pool, but if owner-occupied and you are selling a house with a pool, then always try to sell in summer months. The reason for this is that buyers will see a pool as “fun” in summer and “work” in winter. Also if you are considering putting a pool in, make sure there is a bit of back-yard left for kids to play or a patch of grassed area for a dog.

$385,000 Neg

This great family home situated a family friendly neighbourhood within walking distance to parks, public transport and easy access to all the major amenities and roads.

Property Features Include:
4 Bedrooms (3 x built-in robes + Ceiling Fans)
Master with WIR + Ensuite + Air-conditioned + Fans
2 Bathrooms
Massive Carport – Fit 3 cars or boat/caravan/trailer
Ex-Garage – Huge Rumpus Room (can easily be converted back)
Courtyard Area
Separate Front Lounge
Open Family / Dining Area
Kitchen with Stainless Steel Appliances
Air-conditioned
Ceiling Fans
Great Entertainment Area
Low Maintenance Yard
Landscaped
Separate Laundry
Insulation
Outdoor Power
Garden Shed
Security Grills
Concreted all around the home
So much more…

Get in now before someone else buys it, call the agent today for your personal tour of this great buy in a growing area!

This beautifully presented family home has been tastefully renovated and in a quiet cul-de-sac street with easy access to all ammenities, public transport and major roads.
The owner has spent money to upgrade the carpets, paint, light fittings, the kitchen, floors and more so you don’t have to!!!

Property Features Include:
3 Bedrooms (1x WIR + 2x BIR)
Master with Ensuite
2 Bathrooms
Main Bath with separate basin / toilet
2 Car Remote Garage
476sqm
Separate Front Lounge
Beautifully Tiled Living Areas
Separate Dining / Meals Area
Open Plan Kitchen with granite benchtops
2pac Cupboards
Blanco Stainless Steel Appliances
Ducted Rangehood
2nd Living Area – Family Room
Air-Conditioner
Great Covered Outdoor Area
Garden Shed
Insulation
Crimsafe Security
Security Grills
Potential for Side Access
Orchard / Veggie Garden
So Much More…

A fantastic home in a booming area, close to everything you need with easy access to all the major roads. This is the one you have been waiting for, just move in nothing to do! Call the agent today for your personal inspection.