Feed on
Posts
Comments

PPG_Blog_May image 5_what is the REIV

As real estate agents we often refer to the Real Estate Institute of Victoria (REIV) when discussing market data as well as our agency credibility. So what is the REIV and what is its role within the industry?

Formed in July of 1985, the REIV’s mission statement says that its primary task is “to lead the industry and promote the delivery of professional services by our members to the public and to ensure the integrity, credibility and ethical standards of the real estate industry.”

Over 2000 real estate agencies in Victoria are members of the REIV. Members specialise in all facets of real estate, including: residential sales, commercial and industrial sales, auctions, business broking, buyers agency, property management, owners’ corporations management and valuations. Members are located all over the state, not just in city areas. Agencies wanting to join the REIV must meet the strict ethical standards upheld by the institute.

The REIV also gathers and collates invaluable statistics about the real estate market. Each week members report auction results, private sales and all other data relating to the commercial and rental markets. Median house prices are also calculated and published by the REIV on a quarterly basis. REIV CEO Enzo Raimondo writes a regular market review giving his expert opinion and forecast..

Each state and territory across Australia has its own Real Estate Institute, helping to provide a complete market analysis as well as ensuring industry standards remain high.

Tags: , , , ,

How to warm your home

warm your home

Oh to live in Darwin at this time of the year! Temperatures in that city this week are expected to average 32 degrees, with overnight lows of 21.

For the rest of us, the pre-winter chill is certainly starting to bite. As we move into the colder months, here are 10 ways to warm up your home.

1. Prune those sun-suckers

Shady plants are great in summer, especially on the north and western sides of your property. But at this time of the year you want to get as much sun into your house as you can. Now is the time to prune plants blocking out your sunlight, if possible.

2. Let the sun in

When the sun is shining, remember to open curtains and blinds during the day, especially on the northern side of your home, but also the east (in the morning) and the west (in the afternoon).

However, you might consider leaving south-facing blinds and curtains closed on days when it is colder outside than in as the sun won’t hit those windows.

It’s very common to see homes shut up all day long with the curtains drawn. But before you head off to work or out for the day, opening the blinds and curtains on windows that get the sun can mean coming home to a much warmer property.

3. Block the cold out

Overnight you want to stop the warm air from inside your home being lost through the glass of your windows. It’s important to cover the windows to do this.

Either use thick curtains and a pelmet overhead to stop the air from getting to the window, or consider good-quality honeycomb (also known as cellular) blinds, which pull up almost out of sight during the day to let maximum sunlight in, but do a fantastic job of blocking the windows overnight, or on colder days when there is a lot of cloud cover.

The great thing about honeycomb blinds is you don’t end up with the heavy look of thick curtains but still get the insulating effect. They do look a bit like they belong in an office and not a home though, and if that bothers you, you can layer them behind a very light sheer curtain to soften their impact. Or of course, for even more insulation, a heavier curtain.

4. Fan-tastic

If you have ceiling fans, now is the time to switch them over to winter mode so that they run backwards. Put them on their lowest speed and they will direct the warm air from across the ceilings where it sits high up, and down the walls.

If you get condensation on your windows overnight, you’ll probably notice that leaving a fan on in winter mode during the day can help to dry the windows out faster.

5. Draughts be gone

Gaps around doors and windows can let in a lot of draughts. Block them up with an appropriate draught-sealer. Your local hardware store will have plenty of options.

Consider also a good old-fashioned door snake if you find it hard to seal the bottom of doors, which is often the case in older houses where steps may have worn, or doors are not quite square.

If you have particularly cold rooms in the home – the spare bedroom or laundry, for example, consider draught-sealing the door that separate that room or rooms from the rest of the home.

However, it is important to note that if you use unflued gas heating or an open fire, you will need to ensure you have adequate ventilation at home.

6. Monitor it

If you happen to be someone who is at home during the day, you’ll have the opportunity to throw open the windows and let the warmth in on the days when it becomes hotter inside than out, which can often happen at this time of year.

It can be helpful to have a thermometer with an outdoor sensor set up in a prominent spot in the home to let you know when it is warmer outside than in. Hardware stores often stock them – I have one a bit like this.

It will also come in handy in summer when you’ve got the opposite problem and you want to know when it has cooled enough to open the windows in the evening.

7. Go passive

A few months ago we installed a solar heater, which draws the warm air from the roof cavity into the home. You can read about it here.

I’m pleased to say it seems to working well at this time of year (when we hoped it would) helping to raise the home’s temperature by a critical three-four degrees, meaning the heater has pretty much stayed off so far, even on cooler nights.

Because our home is well-insulated, draught-sealed and has honeycomb blinds on almost all windows, when it warms up during the day it manages to hold the temperature overnight.

8. They mightn’t be pretty but…

Okay, I’ll admit that old-style aluminium roller shutters are butt-ugly.

When we inherited two shutters on the ’50s brick box we bought a year or so back, I was tempted to rip them off. But instead we gave them a paint job (a marginal improvement) and now find in winter, we wouldn’t be without them.

When the shutter goes down about the same time as the sun it’s like instant double-glazing, you can feel the difference because the shutter helps to provide an air pocket between our old single-pane glass windows and the cold night air.

They work so well I’m even tempted to put them on a few more windows.

9. Cook up a storm

It really is a time of year for baking and slow cooking. The house will definitely warm up, but will you be able to resist all that yummy food?

10. Control the thermostat

Running your heater at 18-21 degrees will keep you comfortable without toasting, and will also keep your winter heating bills down. Just one degree more in temperature can increase your heating costs by 15 per cent.

Story by Carolyn Boyd is a property journalist and keen follower of Australia’s housing market.

Source: www.domain.com.au

Tags: , , , ,

PPG_Blog_May_image 1_winter gardenWinter can create a harsh environment for your garden, especially in cold areas. Growth slows down considerably and problems become more evident when a plant is in a cold-weakened state.

But there are many things you can do to help your garden cope with the cooler months:

  • Move potted tropical plants and other warmth loving pots into more protected areas – perhaps onto a verandah or porch. If cold-sensitive plants are growing in the garden or are too heavy to relocate, spray them with a layer of Yates Stressguard. This see-through polymer can provide several degrees of frost protection.
  • Reduce watering. Plants require much less water when the weather’s cooler. But when you do give your garden a drink try taking the chill off tap water by mixing in a small amount of hot water. This means it won’t shock the roots so much.
  • Construct frames around the plants that are likely to be damaged by the cold or frosts. If supports are already in place it only takes a few minutes to throw a piece of cloth or plastic over them in the evening and remove it in the morning.
  • If your garden soil has any drainage problems, winter is the season when they’ll expose themselves. Use a garden fork to push vertical holes into heavy soils. Create surface drains to carry away excess moisture. Dig gypsum where possible into clay. Gypsum has a miraculous effect on most clay soils. It binds particles together, allowing air to get into the spaces between the particles and helping excess water to drain away.
  • Deep layers of mulch on soil can ensure that it remains cold and damp for three months or more. Hence, it can be a good idea to remove some of the thickness of mulch over winter so that the sun can penetrate and add warmth to the soil.
  • If space is available and you haven’t done so already, try installing a rain water tank. You can store the precious water for summer 2013 when your garden will be thriving but thirsty!

Tags: , , , , ,

Busines Tax

 

Many small businesses operate from the owner’s home. This could mean the factory is a shed in the backyard and the office a corner of the kitchen or dining room table.

For others the business can have a separate section of the home or permanent structure on the property used exclusively by the business. The facts of each case will determine what costs can be claimed as a tax deduction.

Business owners are often keen to claim a percentage of the interest on a loan where a mortgage has been taken out to purchase the property. The ability to claim property related expenses will depend on two tests being passed.

The first requires part of the home or the property to be set aside exclusively as a place of business. This would mean the part of the home used for business purposes could not have a dual private usage component. Setting up half of a large rumpus room as an office, with the rest being used for private purposes, would not satisfy this test.

In addition to the exclusive use test the section used for business purposes must be clearly identifiable. This can often mean that there is an entrance for the part used as a home and a separate entrance for the section relating to the business.

Building a shed that is used exclusively by a business for manufacturing or storage purposes would result in part of a property being classed as business premises.

If these tests are passed a portion of the property related expenses can be claimed including interest on the loan to purchase the property and rates. The method used to apportion the expenses must be able to stand up to the scrutiny of the ATO. An accepted method is calculating the area used for business purposes as percentage of the total area of the home.

In addition to the property related costs a tax deduction can also be claimed for the occupancy costs such as electricity, gas, telephone and internet usage. For these costs the owners must again be able to prove how they apportioned them between business and private usage.

Where the business property tests cannot be passed a business can still claim a portion of occupancy costs.

The ability to claim property related expenses does however come at a cost. By establishing a home or property is used for business results in a loss of the main residence capital gains tax exemption for that part of the home or property.

This will mean the owners of the business need to have the home valued at the time it starts to be used for business purposes. When the property is sold a portion of the difference between the net sale proceeds and the value when the business was started will be taxable as a capital gain.

Thankfully in this situation if a business owner passes the small business capital gains tax exemption tests income tax may still not be payable.

Tax for small business, a survival guide, by Max Newnham is available in bookstores.

Story source: www.domain.com.au

Tags: , , , , ,

Balconies and Balustrades

PPG_Blog_April_image 7_balconies

Balconies and balustrades have come along way over recent years. The choices are now far greater and the safety aspects have improved out of sight. Little ones can no longer easily climb up and wave down precariously at you from your second storey. This is very good news for parents!

Glass is currently one of the most popular material options for balustrading. It works brilliantly on a new house or apartment and is also an excellent way to modernise an existing home under renovation. For obvious reasons glass is also a clear winner for properties with a great view. Glass balustrading is not for the budget conscious, however, and cleaning it can be somewhat of a chore, but glass doesn’t rot and need replacing over time.

The other extremely popular choice these days is the wire balustrade. This simple yet stylish look can instantly complete a coastal weatherboard home giving it that classic nautical theme. Wire can also look great on ground level decking or low level balconies that still need some kind of railing. Internal stair casing also looks chic with wire incorporated into the design.

For a more traditional look, you can’t go past timber. It’s timeless and attractive and blends well with most home types. It does require some ongoing maintenance but if kept in good nic, it’s a look that will stand the test of time.

Other more unique balustrade materials include corrugated iron, steel and a combination of several. Importantly, if you are thinking of updating your existing balcony and railing be sure to check with local council for any permit requirements.

Tags: , , ,

open planOpen plan living is in vogue at the moment – but how do you turn a big open space into a cosy interior that’s easy to live in and doesn’t feel like a warehouse?  It’s all about zoning and creating intimate areas without walls.

The best place to start is from the ground up.  Use rugs to define your space and then use furniture to help partition spaces.

Display cabinets, such as the Sovita Curio or Forma, are perfect for this – adding sparkle and zing and the opportunity to showcase your treasures.

Turn your lounge seating in on itself to create a healthy conversation area.  In this way the back of your lounges and chairs help to create the living space.

Mix different styles of furniture to give the zones more personality.  Think a classic contemporary lounge in your  ‘living zone’ combined with a wooden farmhouse table in your ‘dining zone’.

The general rule of thumb with big areas is that you need big furniture, big artworks and big patterns which will help to counter the proportions of the room.

Tuck study spaces out of sight and away from the lounge area with either partitions or plants.  No thinking about work when you are relaxing (and no need to be constantly tidying your messy work area either).

The final trick is to arrange the furniture in such a way as to allow you to meander through the space rather than being able to take a straight path from the front door to the back door.

Avoid meaningless dead zones and make use of all your space by adding plants, lamps and chairs.

Story Source: Nick Scali Reviews

Tags: , , ,

PPG_Blog_April_image 8_mortage healthcheckAstute mortgage holders will undergo a comprehensive mortgage check every few years. It makes perfect financial sense to do so given the current competition between banks and non-bank lenders and the regular fluctuation of interest rates.

If you are considering refinancing, be sure to avoid the following oversights:

  1. Automatically refinancing with your current lender without shopping around – loyalty should not be a consideration in the home loan game!
  2. Switching loans or lender without being 100% certain of the total costs including discharge fees, establishment fees, legal costs, ongoing fees etc.
  3. Being enticed by honeymoon rates, which ultimately revert to a higher rate at the end of the introductory period
  4. Turning short term debt into long-term debt by refinancing to use equity to pay off credit cards without seriously changing your spending behaviour
  5. Rushing through the process without reading the fine print and making quick decisions just to get a good rate
  6. Not asking for help from a professional if the process seems too daunting or difficult. A mortgage broker can often end up saving you big dollars.

Refinancing your mortgage means repeating the whole home loan procedure, so be prepared for a thorough and sometimes time consuming process. It’s worthwhile making sure your credit records are in the best possible shape before you even start.

This will go a long way to avoid stress and frustration further down the line. Lowering credit card limits to manageable levels can also help.

Tags: , , ,

reserve bankThe Reserve Bank of Australia has cut interest rates by 50 basis points in an unexpected move that should provide welcome relief to many homeowners.

The reduction takes the official cash rate to 3.75 percent.

Damian Smith CEO of financial comparison site RateCity called the RBA’s decision "a very big move".

"They haven’t moved rates this far since the depths of the Global Financial Crisis," Mr Smith told ninemsn.

"This cut will help thousands of households, with people on a $300,000 mortgage potentially saving around $1000 per year."

But he warns that some banks may be unwilling to pass on the rate cut in full.

"It’s unlikely that all lenders will pass on the full rate cut," Mr Smith said.

"The signals from the big four banks suggest that they will try to hold on to part of this rate cut."

Mr Smith points out that while the central bank has lowered the cash rate by 50 basis points since November, "the big four banks have only passed on around 40 basis points to variable rate home loan customers".

It is the largest cut to the cash rate since a 100 basis point reduction in February 2009, and the first time the RBA has lowered the cash rate since it cut it by 25 basis points at its December board meeting.

Business lobby groups, trade unionists and some economists had called for the board of the RBA to cut rates by 50 basis points to help ailing retailers, manufacturers and the stubborn housing market.

Story source: www.ninemsn.com.au

Tags: , , , ,

Home Loans 1

 

Australia’s housing sector has called on the reserve bank to deliver a 50 basis point interest rate cut after a survey showed new home sales have fallen to their lowest level in more than a decade.

The Housing Industry Association (HIA), which represents the residential building industry, says new home sales dropped 9.4 per cent, seasonally adjusted, in March 2012, their lowest level in more than 10 years.

Multi-unit sales slumped 6.4 per cent over the same period.

HIA chief economist Harley Dale called on the Reserve Bank of Australia (RBA) to deliver a 50 basis point interest rate cut at its board meeting on Tuesday.

An AAP survey of 16 economists on Friday showed all expected the RBA to cut the cash rate 25 basis points, to 4.00 per cent, this week.

However, Mr Dale said a larger cut was needed to revive the housing sector.

"The bank needs to send a clear signal that it is back on the case of assisting an economy that is clearly weaker than it anticipated in 2012," said Harley Dale.

"It is not too late to turn the situation around and prevent new housing from revisiting a GFC (global financial crisis) low.

"Interest rate cuts, while no panacea, can provide substantial assistance in restoring confidence and activity."

The survey of Australia’s 100 largest builders found Queensland suffered the biggest decline with new home sales down 15.3 per cent, followed by Western Australia, down 12 per cent, and New South Wales, down 9.7 per cent.

Story source: http://finance.ninemsn.com.au

Tags: , , , , ,

Magazine LookMany of us could spend hours (possibly weeks) pouring over pictures of hip homes in interiors magazines, and dreaming … If you’ve ever pondered the secrets of these pads’ photogenic success and wanted to emulate them, here are a couple of general tips:

Story time: Most photoshoots capture pictorial vignettes – the sofa, the casually draped throw, the lovely fluffy cushions, the pile of artistically arranged books … It’s not just about the furniture; it’s about what these items say and the story they tell about you and your home.

Go into detail:  A photographer’s nightmare is a room with no possessions on show. Editors love details – knick-knacks make a home a home.  We’re not thinking for a minute that you cover every space with your old telephone bills and children’s drawings – think knick-knacks, photos of loved ones and think about putting some of your children’s special pics in a frame – and put the bills and clutter out of sight!

Set great store: Good storage is vital – but it doesn’t need to be an expensive built-in: photographically that’s dull. Try a trendy glass cabinet, such as the eye-catching, Forma.

All the little things:  Bold doesn’t have to equal expensive. If you’re nervous, build on a neutral base – beige or brown lounge – then take risks with accessories: zingy cushions or throws, or a ceramic jar – much cheaper than getting the wrong lounge.

Screened off: Something you’ll never see in an interiors mag is the TV! They’re so huge now – and not pretty. Hide giants in a cupboard – and never hang one over a fireplace.

Personal appearance: Forget having the ‘right’ or fashionable thing. The best style is surrounding yourself with things that you love.

To create that beautifully designed magazine look, be sure to follow these tips.

Source: Nick Scali Reviews

Tags: , , , , , ,

Older Posts »