Senior Valuers

06/11/2018

Perhaps for years you've dreamt of owning a place in the country. Maybe a small farm in Lismore, or a private lakefront lot in Lakes Entrance, or maybe your own ski chalet in Mount Hotham. Today's real estate prices combined with low interest rates are making it possible for more people to realize this dream. Before you get out your cheque book, here are some things to consider before taking the plunge.

1. Determine what things are important to you. If you are an avid skier and find yourself spending the equivalent of a mortgage down payment in rentals every year, maybe purchasing a property closer to the slopes is just what you need. Keep in mind, however, you won't have the freedom to move around, so choose a location you'll want to return to year after year. If you're only thinking about taking up a new sport or hobby, consider renting for a few seasons to ensure your dream still holds the same appeal once it becomes a reality.

2. What sorts of ties do you have to your current home? Do the kids come to visit on holidays? How will your having a second home affect your family routines?

3. Begin to zero in on the perfect location for your rural home by making a list of all areas that fit. List your favorite sports and past times, desirable weather, geography (do you want mountain living or beachfront), available employment opportunities, ethnic or social conditions, taxes and utilities, and price range.

Next, do some research and determine which states are most compatible with your needs. Try to get your list down to about three favorites.

4. Contact the chamber of commerce and local government agencies for as much information as they will send you and begin compiling a portfolio on each region.

5. If this is not an area you've previously visited, try renting a place for at least a few weeks to get a feel for the place. Another option is to visit some home sitting sites such as Gumtree.com.au for house sitting opportunities in the area. It's one of the best ways to immerse yourself in an area and feel like part of the community.

6. Once you've planned your visit, contact area real estate agents and make appointments to tour some houses. Send them a list of the properties you want to view as well as your list of criteria and maximum price range. The agent will undoubtedly include other houses on the tour; and you may find it helpful to take notes and pictures of your favorites as they will all start to blend together after awhile.

7. Revisit your favorite homes, inspecting inside and out, looking for obvious deficiencies such as water stains, leaks, odd smells, leaky faucets, or poor water pressure. Find out the age of the roof, bbq area, well and septic (if applicable) and request maintenance records.

8. Once you're ready to submit an offer, make it contingent on a successful home inspection by a professional. Add up any of the big ticket items you may need to repair or update and deduct the costs from the asking price. Get the seller to be responsible for the cost of the survey, and any other pertinent inspections such as water, soil, structure, etc. You should reserve the right to cancel the deal if any of these inspections produce what you consider an unsatisfactory result.

24/07/2018

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also check out

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25/06/2018

Security in the home has never been as important and as visible as it is today. In recent years there has been an increasing number of home-based crimes including home invasions and break & enters. Of course, any home owner wants to protect their families and belongings, the first step in home security is the realisation that there is a need for it.

The single most visible aspect of home security is the monitored alarm system. Home security systems have been around for a long time and have evolved due to the increased need and indeed, demand for these protective measures. The security of mind offered by alarm systems is second to none as they provide a wealth of services in addition to the monitoring of the home. In a time of emergency in the home, most alarm systems will provide convenient one-touch connections to the Police, Fire and Ambulance services. Also, you are always alerted by your monitoring company if your alarm is activated. Additional services are also available such as the instant dispatch of security personnel in the event of an alarm when you are unable to attend. This can provide a great peace of mind when on extended leaves of absence from the home. Finally, most insurance companies will offer a reduction in the cost of home insurance for a monitored home.

There are a variety of other things that a homeowner can do to help ensure the safety of their home. Most of them are simple commonsense steps that are often overlooked. One of these aspects is exterior lighting around the home. If the front of your home is dark and secluded, it might be a good idea to introduce some lighting that makes the entrance-way more visible. Never forget that visibility will usually dissuade petty thieves as a darker area is much easier in which to conceal their activities. Next one should consider where it is that thieves usually enter the home, that is, the windows. Look over all the windows in your home and ensure that the locks are in good working order. Its also a good idea to check the locks on your doors, are they old and a bit shaky? Replacement with new strong locks might be in order.

Communication with the neighbours is another great preventative measure. They will be just as concerned as you are about the security of their homes and families. Keeping informed about strange occurrences in the neighbourhood can help to increase the awareness and safety of all concerned. An attitude of involvement and awareness is one of the best defenses against home crimes.

18/06/2018

18/06/2018

How is the fair market value of a real estate property actually determined?

Determining Fair Market Value is an eternal struggle and major balancing act. That is because buyers want a house to appraise on the low side to keep the purchase price down. While sellers want the same house to appraise on the high side to make the sale price higher. And then you’ve got the owners of the house who also want the valuation to be on the low side, in order to keep the property taxes down.

So with all these different agendas and points of view, how is the fair market value of a real estate property actually determined?

Once a year, your local city council, sends all area homeowners official notices that put a dollar value on their property. And property taxes are based on those dollar values. But before those notices get sent out, a long, detailed process usually takes place. First, the land is valued as if it’s vacant, as in an empty lot in other words. Then any improvements are described and measured. Improvements consist of the house and any other structures, pools, sheds, garages, and so forth. Next, most councils check the valuation cost guides. It is a check method to standardise nation wide the value of the cost per square metre to build a building that fits the description of the improved property. Next, if the house is not brand new, the replacement cost is considered, as well as depreciation; the year the house was constructed and the condition of the property are factors here. Valuers then must take the critical step of comparing the value of the house with recent selling prices of similar homes in the neighbourhood. At this point, the appraisal might stand as is or it might be adjusted upward or downward.

Market Value is a theory, in other words not an unchanging fact.

In a perfect world, you have to have a willing buyer and a willing seller. Neither is under duress. Both are in a position to maximise gain and both are trying to do this. But in the real world, things are rarely that simple and equally balanced. Which is why people feel differently about the appraisal value of a house. It really depends how strong their position is as a buyer or seller.

Does the local demand for housing come into it at all? You bet it does, just ask any successful real estate agent about that! He or she will not be shy to tell you they’ve noticed the local area is fast-growing and attracting people from other areas who consider real estate around here a bargain. That helps fuel increases in property values.

So now you know where that Grand Total comes from.

You are now armed with more information needed to make a better house-buying/selling decision. For instance, you can understand how two virtually identical houses that are in two different neighbourhoods could be very far apart in price and appraised value.

12/06/2018

As having a lot of residence in our retirement village located in Preston we can only count on reliable organisations to assist with management.

With Senior Valuers they are the best at what they do.

Over the years they have been able to assist our residents with their property valuation needs and application forms.

Once I witnessed there attempt and satisfactory effort I knew they were the right people for the service.

On more than one occasion they have been called out to the Village for what I call a financial emergency with our residents. The team are known for shuffling around jobs in order to put you first, which for Aged Care Accommodation I find this very comforting.

They have great customer service from the moment you schedule a valuation.

I have always found it comforting knowing they are easy to communicate with, reliable and are always polite to staff and guests.

I recommend Senior Valuers and praise all the hard work they have done over the past year that I have worked with them. If you contact Senior Valuers for any of the services they provide, I am confident you will not have any regrets.

Enrico Fuller, Administrator & Admittance Officer.

12/06/2018

Long Term Retirement Planning

We all know that sooner is much better than later when it comes to planning your retirement. The more money you sock away and the longer that money has to grow and work for you, the better the position you are in to enjoy your retirement to its fullest. With this in mind, you need to approach all of your retirement investments as long-term rather than quick turnover investments.

It is often tempting to risk it all for the promise of a high return on your investment but you must remember that with great reward comes great risk and most of the time your security is simply not worth that particular risk. There are several different types of long-term investments that you may find to be reasonable and even attractive investments.

Bonds are a popular long-term investment. These are very much like bank issued CDs with the minor exception that bonds are issued by the government. There are many kinds of bonds and you should research them all before committing to one over another. If you select the right bond you might find that given enough time your bond will double in value over time.

Mutual funds are another popular investment for long-term investors. These are pools of money that are combined in order to invest in stocks, bonds, and other short-term investment ventures including securities. These funds are handled by the fund manager who decides where and how the money will be invested. This leaves you to reap the rewards that his or her experience will bring in for you over time.

Stocks are another popular option for those interested in long-term investing. It should be noted that investing in stocks is much riskier than investing in mutual funds though the payouts when things go well are often much more substantial. If you decide to delve into the realm of stock market investment you should be aware that every transaction costs money, that you need to thoroughly research the ins and outs of this type of investing, and that you are taking a substantial risk with your retirement investment. You should also be absolutely certain that you thoroughly research the companies in which you plan to invest and only invest in companies that are well established and showing strong potential for future growth.

With any major financial decision you should consult your financial advisor for guidance and advice. His or her job is to help you turn your limited investments into as much money as possible in order to secure your future and your retirement. The guidance that a good financial advisor can provide when it comes to long term investing is invaluable and should not be discounted or taken for granted any more than the advice you would receive from a doctor or an attorney.

My favorite type of long-term investment is real estate. While there are those that will argue that the return on this investment is too minimal to save for retirement I would argue that the fact that properly maintained and rented units will pay for themselves over time making them pure profit when the time comes to sell or simply to maintain a monthly income throughout your retirement. The more rental properties you own the better your financial position and the more options you have when the time comes to sell those properties. Real estate is one field in which fortunes are made and lost on a regular basis. Rental property is the safest bet for most when it comes to long-term investment and the most significant return on investment. There are options that go well beyond buy and hold when it comes to real estate. If this doesn't excite you perhaps rehabbing property or the even more speculative field of pre-construction investing will offer more appeal.

Long-term investments will be the primary fuel for your financial retirement funds and plans. You need to carefully consider the best possible option for your needs and work towards you financial goals.

16/05/2018

Could we be in a real-estate market correction? If so why now?