Real Estate News


2019 Pennisi Footy Tipping Competition Registrations Open


The AFL footy season is once again upon us and we would like to invite you to join our competition.There are big prizes to be won (a total of over $3,000) so we hope you'll join us... And it’s free to join!This year... Tips can be entered up to 10 minutes before the start of any game, even if you miss the first round. You will receive an email reminder every round to record your tips. You will also receive an email after each round is completed advising you of the weekly winner etc. Register here now.    And invite your family and friends to be part of the fun as well. Good luck and happy tipping from the Pennisi Team!  


Why Auctioning Your Property is a HUGE Mistake


    Never mind what typical agents tell you. Never mind what you read in the papers. Auctions are a stressful, financial minefield for consumers. Despite the booms we've had in many areas, there are still thousands of sellers who don't realise, until it's too late, what really happens to them at auction.     Reserve Price   The reserve price is the lowest price a seller is prepared to accept, after 6 weeks of intense torture and conditioning. And that becomes the central focus of the auction. If you are trying to get the highest price, do NOT choose an agent that’s focused on your lowest price.   There are two parties in a sale price negotiation: a seller and a buyer. Each has their “final price” or their “limit”. The seller's final price is the reserve – that’s the lowest the home will sell for. The buyer's final price may never be known.   There is no procedure at an auction for det...


Want more money in your back pocket?


  There is no questioning that one of the largest expenses many of us face on a monthly basis is the payment of our mortgage - whether it's your principal place of residence or your investment portfolio. To take a moment to sit down and actually reflect on how much money we pay to the banks in interest can be overwhelming, but there are ways you can reduce your interest payments and put more money in your back pocket.   Have you taken the time to strategise how you can save money on your mortgage payments? There are a number of ways that you can achieve this, which can result in $1000s in savings each year:    1. Increase the number of mortgage payments made within the month. This is one of the easiest ways to reduce your interest payments and fast track owning your property sooner.   2. Pay a little extra than the minimum requirement. It doesn't have to be a large additional sum. Maybe consider paying $700 instead of $675.   3. Pay your wa...


Is Your Property Safe for Summer?


  With the days heating up, landlords should be extra vigilant about keeping their rental properties in good condition. This includes cleaning the gutters, ensuring there are no fire hazards surrounding your property and maintaining your pool.  Properties with swimming pools come with their own dangers. Drowning is the leading cause of accidental death for children aged one to four, making it imperative that you adhere to the legal guidelines on pool safety. While regulations vary between localities, the current Australian Standard AS1926-2012 is in place in New South Wales, Victoria, South Australia, Tasmania, Western Australia and the ACT.  In Victoria, the design, construction and installation of swimming pools, spas and their safety barriers are subject to strict building requirements under the Building Regulations 2018. The Regulations also contain ongoing legal obligations for pool and spa owners to maintain their safety barriers at all times...


The Upside to Buying in a Down Market


Property prices across many parts of Australia are falling, of that there is little doubt. The prevailing sentiment would have you believe that the falling prices are terrible for all concerned. Admittedly, the net result of those trading in a falling property market is probably to the downside. Make no mistake though, there are still plenty of people who manage to improve their position in a falling property market. Understanding and accepting where we are in the property cycle is crucial to trading better and smarter. There are five trading opportunities to those prepared to act in the current market: First Home Buyers First home buyers were locked out of the property market during the boom. At one stage, baby boomers wondered if their children would ever be able to buy into the housing market. Now is the best buying opportunity for first home buyers since the GFC in 2008. Sure property prices were lower in 2008, but mortgage rates were significantly higher. Every percentage...


The Awful Truth Behind Those Glossy Real Estate Magazines


  Real Estate magazines that promote one or two homes in each suburb across an entire metropolitan area are the ultimate example of hit and miss advertising. A buyer that wants to buy in Moonee Ponds is not considering Sunshine as an alternative and vice versa. Whenever you see mass wastage taking place, it's always good to examine the motive and identify the person who carries the burden of the waste.   Agents will tell you that their in-house marketing is all powerful and has massive reach. Printing 15,000 copies of the magazine each week gives the magazine a potential circulation (mainly via cafes and shops) of 15,000. Paying hard earned money to advertise in one of these magazines does not give you access to a database of 15,000 buyers as is often claimed. A database is where the agent has the full contact details of the potential buyer on file. Trying to advertise your home to Joe Nobody in a cafe whilst he drinks coffee is not marketing your home to a home buyer...