Property Wizards has been awarded Buyer’s Agent of the Year 2019 at the Real Estate Institute of Western Australia (REIWA) annual Awards for Excellence.

Taking out the top honour in their industry, managing director Liz Sterzel said she was honoured to be recognized by the state’s peak industry body.

“We are thrilled to be acknowledged for the work we’re doing at Property Wizards for our buyer clients,” she said.

“We believe our recipe for success is that we put the buyer’s interests first and continually adapt our buying strategies to the changing property market. This helps our clients tremendously, where they tread a fine line between missing out on a great property and making a disastrous mistake. (more…)

While most Perth property is only just starting to perk up, interest in subdivision and development sites has been building up for the last year. The right sites have a buzz of interested buyers at the home opens.

As an example, a corner triplex site in Greenwood auctioned recently had 9 registered bidders vying for the property in a fierce bidding war. A whopping 61 bids delivered a sale price of $521,000. This was $80,000 over the reserve price! It was by no means a bargain, and there were many hugely disappointed bidders left without a property. (more…)

Today, we’d like to share a stunning development property – a CORNER TRIPLEX SITE.

Corner development sites are hard to come by. The right one is like gold because you can subdivide into STREET-FRONT LOTS without a driveway to the back.

This one ticks all the boxes and that’s why the weekend home open was totally swamped with buyers, mostly developers! (more…)

So, you’ve found the right property. It has everything you’re after and it’s in your price range. The timing is perfect – you’re ready to buy. But, perhaps you’re a little uncertain of how to negotiate your way to the best deal.

Here are 7 insider negotiating strategies to give you the best chance of success and ensure you don’t pay too much. (more…)

If you’ve made the decision to build your new home, you want to tailor it to suit your wants and lifestyle needs. This is where the right builder can help you achieve this, using their trusted expertise and large array of skills.

Here are seven things to consider when searching for the right home builder: 

1. Define your wants and needs

First things first, prior to approaching a building firm you need to have in mind the basics of your home. What size, type, and price range will you go for? From here you can begin to delve into the more detailed aspects of home building, like what materials you want to use, the style and design. (more…)

Mortgage borrowers just received two Christmas in July gifts, with the Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA) both announcing reductions in rates .

What are these gifts and how do they affect you?

Gift 1: APRA are reducing servicing rates!

• What are servicing rates?
• Servicing is the calculation the bank uses to determine how much you can afford to borrow. With APRA reducing the benchmark rate affordability will improve.
• Stay tuned as we expect the banks to roll out the changes in the coming weeks and we will be able to update and help you accordingly.

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Today, we’d like to share a terrific development property with potential to make $220,000*.

It comes with concept DESIGNS DONE for 3 street-front, 3×2 north-facing, hi-spec homes with double garage, and a BUILDER itching to get the designs approved and make you some money.

Total development cost $1.25 million* including $500,000 property price.

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Knowing how to secure a property with superior development potential can be difficult, especially if you are just starting out.

Top tips to ensure successful developing include: (more…)

In recent years, the popularity of professional buyer’s agents has soared in Perth and across the country.

More and more investors and home buyers in the information age, are becoming increasingly savvy and demanding the services of professional buyer’s agents to work on their behalf.

Buyers now understand that it’s important to have expert help when they are buying property, as well as when they are selling, to ensure they get the best deal.

As well, investors are realising buyer’s agents save them precious time and money. While they spend their time where they can earn money – in their profession – buyer’s agents are locating the ideal property for them.

There is also the benefit that a buyer’s agent can save buyers money on the purchase price because they research the property market intimately and so stop them from overpaying.

Buyer’s agents also have the expertise and access to information that can prevent them selecting a property that will under-perform.

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Have you seen a few banks lowering their interest rates further than your current bank?

With several banks dropping rates after the RBA cut, you may be thinking why hasn’t your lender passed on the rate cut?

Should you be racing out to change lenders?

Our advice:

• Wait a little longer to see how all the lenders pan out in terms of rate changes.
• Look more deeply into the actual rate you are paying. Your rate is often dependent on the discount the lender has given you off the standard variable.

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We look at how the RBA rate cut and the APRA change to the interest rate buffer might help property buyers and existing owners.

RBA rate cut

Earlier this month the Reserve Bank (RBA) cut the official interest rate. Commonwealth Bank and National Australia Bank passed on the full rate cut of 25 basis points.  ANZ and Westpac passed on some of the rate cut and a number of smaller banks have followed.

What does a 25-basis point cut mean in Dollar terms?*

• On a $400,000 standard variable loan, a borrower might save around $686 per year.
• If it is an interest-only loan, the savings would be around $1,000 per year.

These savings may sound low compared with the loan size and payments but could help pay off your loan sooner. If the saving of $686 was paid into the loan every year instead of keeping it in your pocket, you could pay off your loan a whole two years earlier.

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Four Reasons to Act Now and Secure One the Few Chances Left to Have it All

It’s not too late for investors and the last 3 homebuyers to secure a unit at Spearwood Quarter, 326 Rockingham Road, Spearwood!

For investors, have you been looking for a low-maintenance unit that is easy to rent, secure and is already delivering the return you’ve been waiting for?

For home buyers, would you like to live a short stroll from local cafés, shops and a buzzing community all year round?

Are you a single professional who values convenience and security more than spare bedrooms you will only fill with junk?

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Buyers’ agents have now become a permanent fixture in the Perth real estate market – and it seems investors aren’t the only ones taking up the service. There’s a rapidly growing trend for homebuyers to enlist the help of experts in their search for the family home.

Using a buyer’s agent was once mostly the domain of property investors, but a growing number of owner-occupiers are taking up the trend and with a degree of uncertainty plaguing buyers in today’s market, it’s an area that’s tipped to grow strongly. (more…)

The 2019 Federal Budget was announced last Tuesday – so who are the winners, you might ask?

Low- and middle-income earners are one of the winners from the 2019 Federal Budget. If you fall into this category you will receive personal tax cuts, for singles this is a maximum of $1,080 or couples a maximum of $2,160.

From a business perspective, small- and medium-size businesses received a positive outcome from the budget with the instant asset write off being increased to $30,000. This will benefit an additional 22,000 businesses.

For everyday Australian commuters, the budget announced $15 billion to be used for new roads and rail projects to help with congestion issues on our roads. Not only is this good for jobs and ease of travel, it is important for property investors who could benefit from investing near the right projects, such as the under-construction airport link. (more…)

After four years of tough rental conditions in Spearwood, things have turned around. Renters are calling, texting and turning up at home opens, and multiple rental applications are being received for some rental properties. Here’s the full story …

Located 18km South-West of Perth CBD, Spearwood boasts a close-knit community with a village atmosphere. People who grew up in Spearwood stay in Spearwood. And no wonder – it’s 5 minutes to Port Coogee Marina and the beach, and Fremantle’s just up the road with it’s vibrant cafes and restaurants.

But it has been tough for investors for the last four years. With excess property stock on the market, the median unit rent had dropped by a huge $100 per week and there were not enough tenants to go around.

Now that’s all changed. The excess stock of rentals and properties for sale has been taken up, renters are calling, texting and turning up at home opens, and multiple rental applications are being received for some rental properties. (more…)