Notes:

Oh, were alive! Apologies to our listeners, we had a mega two weeks and yes VIC is back in lockdown. We are all safe, and back on our regular programming. Key things we cover:

•          What are fixed rates and banks telling us about the market?
•          Is the property market plateauing?
•         Our advice on two scenarios in the market right now!

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The Property heroes talk more candidly about the budget and its impact.

Key things:

•      In summary, the budget was always going to be expansionary, spending to help us through covid and then grow the economy.
•      Untimely our belief is that it doesn’t matter, no budget will make a material impact on your own life plan (especially to buy a house).
• Keep the course or start the journey to growing investments, as it will serve you far better than waiting for a government budget to really help you.

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Website:
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In today's episode we tackle FOMO, with a client example (thanks Dane!).

Key topics we tackle:

• What is property FOMO?
• How to beat FOMO?
• Key mistakes with FOMO?
• Meeting the market as a buyer.
• Understanding any home becomes a home.

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Website:
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Victoria has had a raft of new rental law changes, from annual safety testing, allowing pets and more. These changes shift the power well and truly into the renter's side (which is a good and bad thing). The proposed changes have been in the works for ages, but are nowhere and in full swing.

We chat about how we think these change investors mindsets (or not?).

Short and sharp! Enjoy.

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Website:
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On today's podcast, our heroes tackle one of the hardest parts of your journey. How to evaluate a property?

1. Have a narrow criteria
 - It's difficult to monitor multiple markets, locations, or styles of property
 - Keeping your criteria narrow allows you to become an expert faster
2. Find comparable sales, and use them as your base
 - To evaluate a property you need to have a list of comparable and relevant properties to help
 - The best place to start is the SOLD section of Realestate.com.au or Domain to help
- FYI: The Statement of Information is terrible so make sure you are wary of its information
3. Documents your comparable sales and have a process for updating it
4. Now find properties you are interested in and use your process to plus/minus the price based on a number of factors:
- When did these sell and how much has the general market moved?
- How much has the market moved in your area?
- Adjust for physical factors? Location, street, land size, bedrooms, quality of build, the goal is not to determine the perfect value, but to look at properties you like, that you can afford to get you to the negotiating table.

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The market is roaring, but how long can it keep going. We discuss a few factors, that got us here and what we think will happen?

P.S. -  ANZ forecast is an average 17% growth for 2021 and 6% in 2022.

1. Supply vs. Demand, where are we at?
2. Buyer fatigue, how can this hurt the market?
3. Is lending getting easier, will it push up prices?
4. What we think the year will look like

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As the property market in Australia rages on, we are seeing more and more articles and videos pop up about the doom and gloom crash that's coming. Whilst no one knows what the future holds, if these articles are holding you from buying, here are our five tips to help.

1. Think about always leaving some funds after settlement
2. Be aggressive in your savings post-settlement (albeit its hard)
3. Buy within your means to help you have a lower mortgage
4. Clear all personal debts beforehand, keeping your cash flow high
5. Talk to a good financial planner about insurance

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In this episode, we chat through our March Market update, and yes, it's been Mad. Some key topics:

- ANZ forecasts 17% growth for property
- Feb 2020 increase is 2.5% for Sydney and 2.1% for Melbourne
- Finance approvals are the highest they have ever been
- Some tips about buying when the market is rising

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In today's episode we talk about yield and how it plays into investments and property purchases.

1. What is a yield?
2. Why is it different between assets?
3. How do yield and interest rates work together?
4. What's the going yield for a property?
5. When interest goes up and down, what changes occur to yield and prices?
6. The link between rental costs, interest rates, and yield?

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Today, we will revisit the risk factors with new apartments and deep dive into how developers that focus on profit can really affect your valuation.

Key items:

So who are all the parties involved in a new build? 

• Developer
• Development manager
• Project manager
• Builder and subcontractors
• Sales and marketing

How do these affect your price?

Each of these players is out to run a business and so their profit sits within the purchase price of your property. As an example, when you generally buy a new apartment there can be a sales commission of 2% all the way to 15%. These are cost inbuilt into your apartment price that isn't reflected in the fixtures and fittings of the place. Herein lies the risk of bank valuers, who know these tricks and provide lower results (which can leave you financially ruined!). 

What stories have we heard? 

Hear about the Rolex Watch story, the $18k gift and more tactics that we have seen occur in the murky world of a new apartment builds.

What else?
We talk about value management, rental guarantees, and how the builder can change his mind using the 'artist impression' tactic and also all the clauses that allow them to do so.

So why do people buy new apartments? 

• First homeowner grants is a big one
• It's nice and new
• It's in a good area
• I get a rental guarantee

We say, these are nice to have but it's not worth it in the event your property goes down in value.

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