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Archive for July, 2009

Posted by admin on 13 July 2009

King Wally

“Here’s to Wally Lewis for lacing on a boot.
Sometimes he plays it rugged, sometimes he plays it cute.
He slices through a backline like a Stradbroke Island shark
There’s glue on all his fingers, he’s the Emperor of Lang Park”

The song about our former rugby league great was a beer commercial I think. The stadium sponsor may be Suncorp but locals still call it Lang Park and this bronze statue of Wally Lewis welcomes visitors to the Caxton Street entry. Commissioned in 1992 by The Courier Mail, this landmark public art is hollow bronze and was designed by Art Buster.

This week’s 3rd State of Origin game will be another sell out with more than 50,000 raving fans. If only King Wally was still on the park…

Posted by Rob Honeycombe on 7 July 2009

We shouldn’t be surprised, given Google are turning out to be the most innovative company to grace the planet this millenium. They’ve now launched their new Google real estate mapping portal for Australia. And it’s guaranteed to draw home hunters in their gigabytes – buyers and tenants included.

Watch out, realestate.com.au and domain.com.au. The big boys are here.

Google Maps is something we’re all getting used to seeing and using and they now display homes for sale and for rent. Choose an area, choose a property type, choose a budget – like you’re used to doing on the other portals. But then the fun starts. Drag the map around or zoom in and out andthe results automatically update.

So for example I’m moving to Brisbane, want to stay as close to the CBD as possible, and I want to know where I can buy a 3 bed house for under $700,000. I start in the city with that criteria and zoom out until I find a little red flag that tells me I’ve got a hit.

The results simply update as I move my map and this fully dynamic results list does exactly what home hunters want it to do – cuts out the rubbish that they don’t want. And agents who leave addresses out of their ads to encourage buyers to call (annoying the #%^$#@ out of most people!) won’t have their ad displayed.

Ironically realestate.com.au has a map tab that few people know exists and they even run a full beta website, property.com.au, with a very similar mapping option to Google’s. Maybe they’ve just never given it the attention it needed?

The property portal game is a fickle one and big players have come unstuck before. But with simple linking through to Street View, mapping of neighbouring businesses and amenities, and the raw muscle of Google behind it, we’d expect to see this new site quickly become a favourite way for Australian buyers and tenants to search real estate.

Posted by Rob Honeycombe on 6 July 2009

The GuardianI never considered myself an art lover. Sure there’s a handful of original paintings on the walls at home and a desire for some pieces I can’t afford in a gallery now and then. But recently I’ve started noticing Brisbane’s public art and its sculptures in particular.

This guy has really caught my imagination. Part kangaroo, part reindeer, part backpacker. He’s a mystery in welded stainless steel and right out the front of the Lexicon Apartments on the corner of Ann Street he’s a real head-turner. 

Named “The Guardian” he’s the child of Queensland artist Cezary Stulgis and was created in 2008. Cezary’s certainly making his mark on the CBD’s streetscape. “The Passenger” (below) is another interesting piece, installed at the front of Willahra Tower.

photo courtesy www.CezaryStulgis.com

photo courtesy www.CezaryStulgis.com

Posted by Rob Honeycombe on 5 July 2009

Life in the ‘burbs isn’t for everyone. The trimmed hedges, rolling front lawns and brick lowsets may be perfect for some but, for others, they’re a nightmare of endless mowing and maintenance. If the idea of a 40-minute commute sucks the life right out of you, here are some tips on finding an affordable home in the city.

Look for the uglies. Real estate is like a high school dance and the pretty ones do go first, and for higher prices. Why? Because most of us can’t use our imaginations (or are too lazy). Simple, really simple, renos and 5 tins of paint can make a massive difference to the purchase price. We’ve seen $3,000 spruce-ups add $30,000 to value – and more often than you’d think. If your housewarming needs to be a cocktail affair with the place looking schmick you mightn’t agree – but it can be just as much fun to invite friends over for a ‘paint and pizza’ night!

Brisbane’s inner city is full of brick apartment buildings from the 1980s and earlier. These were the days when only investors bought in the city – and they weren’t winning awards for their stunning architecture. In many cases the buildings look tired and there are no ensuites, lifts or gyms. On the plus side, they often have big rooms and great locations – and the renovation tasks are manageable on a budget. Think carpet, paint, window dressings and the kitchen when you can afford it.

Try Highgate Hill, Paddington, Bowen Hills (an area that’s got an enormous future) or Spring Hill. Old high-rises may not be fashionable property but they’re almost always close to transport and shops. When you get to sell there’ll be a ready market of investors and first home buyers – regardless of the ups and downs that might slow sales of other property.

Train-spotter? You will save big money if you buy alongside one of our many train lines, and if you pick the line (avoiding the freight routes) it can be okay. Main roads are another option but in our experience this noise is more constant and harder to live with. With either rail or roads it will take you longer to sell when the time comes as your pool of willing buyers is that bit smaller.

Those tight-budgeted house buyers needn’t give up either. Some of the ‘transition’ suburbs like the ‘Gabba, East Brisbane and Kelvin Grove have a reasonable number of affordable homes. You might have to live near a panel beater or a wholesaler for a time but this is Brisbane’s inner city and change will come sooner than you think.

# We wrote this article for the real estate pages of ourbrisbane.com

Posted by Rob Honeycombe on 3 July 2009

Freely available sales information is a double-edged sword for sellers today. It makes it easier to do the homework in setting a listing price, but your buyers are also well informed, and if that price is too high they will simply choose the next result on their search list. The web really is transforming the way buyers research and choose their property. And Australia’s dominant real estate portal has now released a tool that makes every home buyer an expert in their chosen neighbourhood.

Realestate.com.au has always had a click through to old web ads showing properties marked as sold. But agents being agents, very few of these listings showed accurate sales data. Hoping to generate phone enquiry, dimwit agents would put massive ranges on their sales record – “$500,000-600,000″ or similar.

REA’s alliance with RP Data will now give buyers exactly what they want.

RP Data collate titles office records and the links at the bottom of every property ad will now show fully accurate sales prices and dates. Where possible it will include a link to the old web ad as well. This list of the 6 most recent sales in the suburb will match the search – apartments or houses. It’s a simple tool and while it’s not a complete match of data to the chosen home it does brings enormous power to a buyer’s negotiating position.

Very few homes are identical so a good agent, presenting your property with well-targeted promotion, can still achieve a price that exceeds recent sales. History is history and buyers know that markets can move.

But agents that rely on their ‘insider knowledge’ to bluff a buyer will find the going even tougher. More than ever the marketing of property needs to be about finding points of difference, key features that benefit that particular buyer, and establishing value in their minds.

This is no longer a game to be played by amateurs.

rp data table

Posted by admin on 3 July 2009

More “Fridays are for fun” fun!

Yesterday I answered a knock on the door, only to be confronted by a well-dressed young man carrying a vacuum cleaner.

‘Good morning,’ said the young man. ‘If I could take a couple of minutes of your time, I would like to demonstrate the very latest in high-powered vacuum cleaners.’

‘Go away!’ I said. ‘I haven’t got any money!, I’m broke!’ and proceeded to close the door.

Quick as a flash, the young man wedged his foot in the door and pushed it wide open. ‘Don’t be too hasty!’ he said. ‘Not until you have at least seen my demonstration..’ And with that, he emptied a bucket of horse manure onto my hallway carpet.

‘If this vacuum cleaner does not remove all traces of this horse manure from your carpet, I will personally eat the remainder.’

I stepped back and said, ‘Well I hope you’ve got a bloody good appetite, because they cut off my electricity this morning!!’

Posted by admin on 2 July 2009

Did you know that by featuring your property on realestate.com.au you will attract 4 times the views by prospective tenants. Imagine your business now and imagine 4  times the customers! A “feature” property listing is a simple upgrade by your property manager so the listing appears at the top of tenants’ searches. It costs a tax deductible $95.

Posted by admin on 1 July 2009

The new Residential Tenancies and Rooming Accommodation Act took effect from today, with a range of new obligations and duties for landlords. If you haven’t heard from your property manager about the changes to the way they now need to represent you, it might pay to call them. Some offences under the new Act do carry stiff penalties. Read some of earlier posts about the challenges for landlords from the new Act, and how it may not be any better for tenants either!

Posted by Rob Honeycombe on 1 July 2009

sold signBy nature, I’m cynical. I hear the nation’s not officially in recession and I’ve been reading the reports about price growth in Brisbane property. RP Data’s Tim Lawless said yesterday the “latest results herald a national residential market recovery.” But after owning my St Lucia apartment for 22 years I was always going to be slow in making the decision to sell.

I grew up believing, and still do, that you should never sell. Back in 1987 I got a first home grant of $4,000 from the PM (thanks, wherever you are now Bob!) and the capital gain’s been pretty tidy in that time. It’s good real estate. But this unofficial recession’s opened some opportunities to expand the business and I could do with the funds. And now is looking like a great time to sell.

My main reason to sell now? There’s a shortage of property on the market. Not a massive undersupply, and for the dearer price points this probably doesn’t apply. But for my place at sub-$400,000 the sellers I’m competing with are very low in number. Scarce, in fact. So my sale price is likely to be a fair bit higher than if I’d sold this time last year (provided my agent here does their job!)

In recent weeks our agency’s made one sale at full price and another at more than full price. First home buyers are still busy out there and with good reason – interest rates are very cheap and the massive job losses haven’t happened. Sentiment seems to be turning as journos make a running story of good news and confidence is bubbling up.

Properties are selling. Some home owners have worked out that getting a bigger home and upgrading in a slow market can save you money. How? If prices were down 10% your $500,000 home has dropped $50,000, but if you’re buying an $800,000 place it’s down $80,000. You might be $30,000 better off than if you’d traded up during the boom. And right now the lower end’s prices are strong, so for many the trade up equation is even better.

Regardless of economic news the world goes about its business. People are born and people die, couples join and split and the normal demands affecting the real estate market continue. I don’t think the market’s on fire but I do think some home owners are missing a good chance to sell.

This time it won’t be me.

Rob Honeycombe
Managing Director – Bees Nees City Realty

Posted by admin on 1 July 2009

Red White and Sparkling BallIf you enjoy a glass of the Barossa’s best join us for a night at the Sebel Hotel with the Mater’s Medical Research Institute. Their 2009 “Red, White and Sparkling Ball” is on July 25th and along with the sumptuous dinner we’ll be sampling boutique wines normally only available at the cellar doors.

The MMRI do some amazing work in research for many cancers and this is a great chance to support their fundraising.

Bees Nees is proud to support this MMRI event. For details and to book your seats visit the MMRI website.