What a great story behind the Melbourne Cup win on Tuesday. Whether you like horse racing or not, it’s always good to hear the “story behind the story”.
It’s the same with real estate. You need to look past the bricks and mortar to see what’s really there.
If you’re looking for a home, you need to fall in love with the property, or its potential. It needs to be in the right location, with all or most of your “must haves” ticked off. The dollars and cents need to add up too.
If you’re looking for an investment property, you need to do your research on the facts and figures. See what properties have sold for in the area over the past year or so, talk to a real estate agent and find out about demand for rental property, check with council to see what their development plans are over the next 5-10 years.
Get the story behind the story.
Without it, you don’t really know what you’re looking at.
Take a look at the story to the right about the latest property market data and trends.
Interest rates
The other big story at the moment is interest rates. Despite speculation that there could be another drop before the end of the year, the RBA decided this week to leave the cash rate at 2%.
However, lenders seem to be doing their own thing.
In the last couple of weeks, we’ve seen the major banks increase variable rates in response to regulatory changes in the finance sector.
This has raised the question of whether you should lock in a fixed rate now. There are pros and cons that need to be considered with fixing a rate – but sometimes the best thing to do is to ride it out until things stabilise. We just don’t know what’s going to happen next, so don’t make any hasty decisions without speaking to me first.
If you want to discuss your situation, please give me a call. I’m always happy to take a look at your options.
Trip overseas 30/11 – 16/12
I’ll be overseas from 30th November to 16th December, attending a conference and having a bit of a holiday. While I’m away I will have very limited access to internet and phone – so please be patient if you need something.
Tanya will be holding the fort at home, so things that are in the pipeline will be pushed along. If you need to follow anything up, please email Tanya at [email protected].
Take care and be in touch if we can help in any way.
