Real Estate News


Pennisi News & Views 2018


Click here to read the latest Pennisi Real Estate 2018 News & Views.  


The Leopard's New Spots - The Real Reason Behind Expensive Internet Ads


    Real estate agents love a ‘motivated vendor’. Why? Because a motivated vendor is far more likely to sell, even if the price is below their expectations - whereas unmotivated vendors are more likely to reject lower than expected offers. You may have heard the saying, ‘The best time to sell is when you don’t need to’. It’s this lack of motivation in the seller that causes indifference, inadvertently creating an advantage of sorts for themselves over the buyer. The buyer and/or their agent need to pander to the seller’s demands when the vendor’s motivation to sell is low. Unmotivated vendors can be a nightmare for real estate agents if they are ambivalent about selling, because the agent only gets paid if they do sell, which creates conflicting motives for the seller and their agent.     When a seller signs with an agent, they are exclusively signed to that agent’s firm for the duration of the a...


Can we promote your business?


  As the oldest Real Estate agency in Moonee Valley, Pennisi Real Estate is passionate about supporting local business to create a connected and thriving local community. With more than 45 years’ experience, we understand first-hand the challenges small business owners face when it comes to marketing their brand and attracting new customers.   That’s why we’d like to invite you to promote your local business or community event on our Essendon Community Facebook Page.   Each local business is entitled to 3 x promotional posts per year and 5 x event posts per year.   To ensure we provide excellent value to our readers and they continue to visit our page, we request that any promotional posts include an ‘exclusive’ offer for our readers.    If your event or offer meets these guidelines, simply LIKE the Essendon Community Facebook Page and send us a Facebook message with the details and we’ll pro...


7 QUESTIONS TO ASK AN AGENT WHEN SELLING


  As we head into Spring, there will be an inevitable surge in real estate listings. As the boom fades and more challenging market conditions emerge, the vendor’s real estate agent is either an asset or liability in negotiations. These must-ask questions have been extracted from the book, Inside Real Estate to ensure you employ the best agent.   What evidence did you rely on when valuing our property?   We are all susceptible to believing what we want to hear. If an agent quotes a high price for your property, it's natural to want to believe them. However, if an agent cannot justify their price to you as the owner, they will have an even harder time convincing a buyer!     If the property sells below your quoted price, do we still have to pay full commission?   When you sign an agency agreement to sell, the agent must provide a written assessment of value. You, as the seller, enter into the agreement in part based on the written as...


Why Higher Rent May Not Equal Higher Income


  Most experienced investors understand that $500 a week for fifty-two weeks a year means more money in their pocket than $550 a week with several weeks vacancy during the year. So if maximising income from rental property investment comes from keeping their properties occupied, why do some landlords charge such high rents that their tenants move on whenever they get the chance and new tenants are slow to move in?   It is a fact of life that some investors fail to see the big picture and only look at the money in their pocket 'right now'. They are blind to the possibility of rent loss down the track and don't see that they might create dissatisfied tenants who move on when they find a better value option, thereby creating a cycle of high turnover and increased vacancy.     The problems don't stop there... Investors whose properties are 'good value' get more enquiry and can afford to be more selective when deciding who will rent their property, while thos...


Why You Should Consider Rentvesting


    Eager to enter the property market, but can’t afford to buy where you want to live? It might be time to consider rentvesting. With headlines in the media often touting rising living costs and housing un-affordability, it's no surprise that many young people feel like it's impossible to enter the property market. While entering the market has become more difficult in the last few years, it certainly isn’t impossible – you just have to think outside of the box.   Enter rentvesting...     So what is rentvesting? Rentvesting refers to purchasing an investment property while continuing to rent in your desired location. Young home buyers often do not want to give up their inner-city lifestyles, yet they can't afford to purchase in their desired area. Rentvesting is great option for young people to retain the lifestyle they have become accustomed to, while still having the opportunity to enter the market.     What a...