Darin's Desk September 2019

Recovery

The golden words that many people are wondering and yes, it’s true. The buyers are returning and whilst there is a huge 50% of surplus of stock on this end of the Coast that now has to be eaten up, the appetite of the investors and home occupiers alike has now increased well and truly.

 

Important to note that the process of the major banks has changed to line up with Royal Commission restraints and with a reshuffle of their decks to deliver better business. From what I can see so far, in many situations this is not the ideal set up for the customer but it does look like a way the banks are getting ready for automation which many businesses will have to do due to the expectations of us as clients as we all want everything a phone, email or an instant messenger away.

 

Turn around times have been quoted for approval of up to 2-6 weeks although they are quick to point out that it is from the time you have all documents/criteria to the bank. Generally by that time they would know what toilet paper you use or who your Melbourne cup bet is on through TAB the questions are so thorough. (Mustajeer, Shraaoh, Torcedor a few suggestions) although I must state to gamble responsibly.

 

Even with this monster amount of questions from the lenders, the buyers are buying and the sellers are selling and this is great for our area as consumer confidence and the abundance of great properties at tremendous value is attracting both locals and Sydney based buyers alike. Developers are back, sniffing around with the occasional purchase just franking the form of the market.

 

What does it mean for you? It’s a tremendous time to buy, great time to upsize or downsize and with the right agent/ agency like Wiseberry Heritage it is also an amazing time to sell.

 

On the Property Management/ rentals front, the influx of investors has given tenants an opportunity to find the right property out there and prices are great. The excess on the market of properties that didn’t sell in slower times and some new investments hitting the market has seen the tenancy market competitive and great tenants are highly sought. In saying that, with some of our open homes attracting 10-20 people, the right properties at the right price are still leasing quickly. Our dedicated tenancy department has had a record breaking two months, breaking records for the number of leased properties and now on target to lease more than 600 properties for 2019 at this rate. Having the right team finding you the right property if you’re a tenant and for a landlord leasing your property to the right tenant is vital and our Wiseberry Heritage Rentals section offer both.

 

The Awards and Nominations keep on rolling – Thank you

Our Wiseberry Heritage Group have certainly been noticed as one of the strongest real estates in the country with a win in the Central Coast Small Business Awards – Best Real Estate and finalists in two national awards which include: REIA (Real Estate Institute of Australia) & REBA (Real Estate Business Awards) both Australian finalists. We are very honoured to have our name in lights so many times this year and with this in mind we would like to thank you, our community, our landlords, our tenants, our buyers, our sellers, our team and our past clients for the tremendous support we continue to get.

 

 

TOTY  - Tenant of the year

And the finalists are being short listed for the Night of Nights. This award is in honour of the forgotten heroes of our business - the Tenants - in which without their continued support the Property Management side of the world would be very hard to do. In this arena of TOTY we get to celebrate with the best of the best for their consistency in rental history, the condition in which they have the property, the work they put into the community and the way they treat our team. We must say that there could be hundreds of winners, we must have only a chosen few for the finals and only a handful as our eventual winners. The process brings a lot of pride and sense of ownership to both the tenant and our team members who work hard with the judges in the selection criteria’s. What I do know is that from this program we are attracting better quality tenants that are keen to please and our landlords are very grateful for this reason. Will you be the next tenant of the year? If you’re not with Wiseberry, you have no chance.

Author: Darin Butcher

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