Real Estate News


What You Need to Know Before Purchasing an Off-The-Plan Development as an Investment Property


  Many investors gravitate towards purchasing off-the-plan developments due to the perceived benefit they offer. Off-the-plan developments are often marketed as an easy way to enter the property investment world and the glossy brochures can certainly make them look like an attractive choice.   Being new builds, investors can maximise depreciation and minimise maintenance costs, which assists with boosting returns. Although this seems promising, due diligence needs to be exercised before signing the contract. Here are some tips before purchasing an off-the-plan development as an investment.     Be Wary of Guaranteed Rental Returns Many developers offer a ‘rental guarantee’ to entice investors. It can sound like an attractive option at the time – the market rent may be $350 a week, the guarantee $500 a week. Sounds too good to be true? That’s because it is. Once the rental guarantee expires, the investor is forced to accept rent at the m...


10 Little Known Facts About Pennisi Real Estate


1. We are the 2nd oldest real estate agency in the City of Moonee Valley. Sam Pennisi established Pennisi Real Estate in January 1973 at the age of 33 with a staff of only two. Today the company employees a team of over 20 and is the second oldest agency in the City of Moonee Valley celebrating a prestigious 45 years in 2018. Learn more about the Pennisi story here.     2. We are massive supporters of the Cancer Council.   In 2018 already, we’ve raised $18,940 for Cancer Council Victoria’s life-saving work in research, prevention and support of the 622 people diagnosed with cancer in Moonee Valley City each year. Learn more about our annual fundraising campaigns here.     3. We have a “No Sale, No Pay” policy.   You don't pay any money in advance for any reason – no exceptions! Until your home is sold, you pay nothing. Unless we do what we promised you, you pay anything. Learn more about Pennisi Real Estate&r...


Highest Team Fundraiser 2018 Relay For Life


It is with great pride that Pennisi Real Estate has been announced the Highest Team Fundraiser for the 2018 Relay For Life.   Included in our fundraising campaign was the annual Pennisi Trivia Night, attended by 250 people to raise a total of $14,500.00.   We also competed in the Moonee Valley Relay For Life raising a further $3,240.00 and held a morning tea that raised $1,200.00 in memory of Dianne Pennisi who lost her fight with breast cancer in April 2017.   Together we raised a sum total of $18,940 for Cancer Council Victoria’s life-saving work in research, prevention and support of the 622 people diagnosed with cancer in Moonee Valley City each year.   The funds raised are making an incredible difference in our local community through the following initiatives…   Australian Breakthrough Cancer Study, following 50,000 people to understand more about cancer to help prevent and treat it. SunSmart, Quit and LiveLighter, which help pre...


Top 5 Tips For First Time Home Buyers


  Buying your first home can be daunting – both financially and emotionally. It’s likely to be one of the biggest investments you’ll make, so the Pennisi Real Estate team have compiled their top 5 tips to guide you.       1.  Start saving now (like, today) House deposits can take years to save, so it’s smart to start as soon as possible and save as much as you can. This not only demonstrates to your lender that you can exercise enough discipline to accumulate a large amount of savings, but you will also have a buffer of equity in the property from the beginning.Think about how much you could save if you passed on the cafe lattes and avo smash for a few months. If you skip two flat whites a day you could save nearly $2,000 a year... If you skip two avo toasts a week you'll save another $2,000 a year... It all adds up and in five years time you'll have an extra $20,000 ready to go...


Five Mistakes To Avoid When Investing In Property


    1.  Not doing your research When purchasing an investment property, it’s important to do your research about the location, local amenities, rental yields, vacancy rates and the property itself. While it may not always be possible, you should aim to know as much as you can about the neighbourhood you intend to invest in.   Be wary of ‘booming markets’ such as mining towns and tourism centres. These may produce excellent returns over the short term, but how will the investment stack up long term if there is an industry downturn? Remember, a good investment is not one based on speculation.       2.  Not having a professional property management team in place Many people assume property management is simple and think they can do it all when it comes to taking care of every aspect when managing their property. This can quickly become a stressful and tedious task, not to mention the ever increasing legislative requi...


When is the best time to sell my property?


Every season offers the seller different opportunities to market and sell their property...    Winter   Winter is a great time to sell your property as there is often less stock on the market. A well presented property in winter stands out as there is less competition and buyers are looking all year round. A warm open fire in a Melbourne winter accompanied by hot chocolate on arrival is the perfect way to welcome potential buyers to an open home.     Summer   Summer offers a unique time to showcase your property. Long days and summer holidays give prospective buyers more time to spend looking at property and imagining themselves moving into their new place. Offering a cold lemonade at an open home in summer ensures prospective buyers stay long enough to enjoy the refreshment while leisurely perusing the property.     Autumn   Autumn is a busy buying period with many families wanting to settle on a new property before wint...