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If you've successfully applied for the First Home Loan Deposit Scheme (FHLDS), are you aware that you only have 90 days to search for your first home? Given the latest social distancing restrictions, public open for inspections and public auctions have been banned. Agents can only schedule inspections on a one-on-one basis, and this makes property search a lot more difficult. There are a lot more coordination involved and a lot of planning involved. How do you hasten the property search? How do you see more properties in the limited time you have? Plan, plan, plan. It takes a lot of planning and coordination, and juggling between property search and all your other commitments. This is where most all first home buyers get anxious. You have to scan through the various real estate websites to research the property market, estimate the property value, understand your mortgage commitments, organise the building inspection, termite inspection and pest inspections, talk to your financial planner. There is a lot to do within the 90 days, for the inexperienced first home buyer. What can you do to help yourself? There are a few ways to help yourself. 1. Start searching on a full time basis. Remember, no two properties are the same, every single property needs to be valued and assessed individually, against your priorities, needs, and wants. 2. Let your privilege lapse and try your luck applying. Yes, there could still be some vacancies from now till June 2020, or you would have to wait till July 2020 for the new quota to be released. If you are expecting property prices to fall, you'll be wrong. Here's why. 3. Engage a buyers advocate to speed up the search. Buyers advocates (similar to buyers agents) use their intimate knowledge of the property market, to help buyers research the property market and access more properties (pre-market and off-market listings). On average, engaging a buyer's advocate can speed up your property search by 3 to 4 times. How can Concierge Buyers Advocates help? If you are getting seriously anxious, have a chat with us. Let us explore ways of working together to help you buy your first home. We have helped many first home buyers buy their dream homes. We understand all first home buyers have other commitments, and this is why we keep our fees low just for first home buyers. If you prefer, we have a few high quality zero-fees properties which are specially selected for first home buyers as well. So, would you prefer to miss out on your 5% home loan deposit privilege or would you prefer to engage a professional buyer to help you? https://www.domain.com.au/news/first-home-loan-deposit-scheme-recipients-may-miss-out-on-buying-a-home-amid-covid-19-restrictions-943937/

Banks are traditionally the preferred lender for most home buyers. But, did you know? You can get better interest rates if you go for one of the specialist or boutique lenders? They are offering interest rates as low as 2.3%! Interested to find out more? Book one of our strategy sessions and you'll get access to exclusive, low interest rates. Get in touch now Which bank is offering the lowest home loan interest rates right now? https://www.domain.com.au/money-markets/which-bank-is-offering-the-best-home-loan-interest-rates-right-now-940465/?utm_campaign=article&utm_source=metros&utm_medium=link&utm_content=pos2

If you are a property buyer, whether you're a first home buyer, upgrading or downsizing, do it quick. Echoing Concierge Buyers Advocates' call a few months ago, Domain has published an article detailing how the Melbourne market had turned and the window to upgrade is closing very quickly. I was at an auction this morning. A property with great access to Melbourne CBD, was listed for auction with a price range of $750,000 - $825,000. Auction kicked off at $780,000, and the bidding frenzy between 5 bidders did not stop until it hits $940,000. Is the Fear Of Missing Out mentality back in the market, it definitely is, in this instance. Did you know? Buyers buying their own property is going to loose out more, as they are going to spend 3 times longer to search for a property, compared to assisted buying from a buyer's agent. Read the facts here. To have a chat about this and some buying tips, get in touch. https://www.domain.com.au/news/melbourne-upgraders-warned-to-get-in-quick-as-housing-market-turns-880268/

Found this site in the Northern suburbs of Melbourne with planning permits for 3 x 3 bedroom townhouses. Asking price $850,000. Similar 3 bedroom townhouses in the area are sold for between $800,000 - $900,000. Tidy profit of between $400,000 - $700,000 awaits the astute developer. Get in touch for more details.

Probably the most positive news to come from an investment fund manager. Investment analysts at AMP believe Melbourne and Sydney property prices could rebound by as much as 10%! While that's good news for property owners and vendors, first home buyers might want to get in soon. Judging from recent auction results, the FOMO (Fear Of Missing Out) monster might be coming back soon, especially for properties in in-demand areas. We're starting to see properties being sold for $100,000 to $200,000 over the reserve. With typical DIY buying taking over 6 to 9 months, buyers could be missing out on the good deals now. Getting a buyer agent to help with your property purchase is a quick way to land the property your dream home faster. Studies have shown that buyer agenst typically secure a property for their clients within 2 to 3 months. That's half your buying time. That's primarily because they are always researching properties, and are able to spot a good property or a good bargain in split second. They also have access to off-market properties where there are less competition and where you chances of landing a good buy is higher. Still not convinced? Have a complimentary consultation with us. Try us out. Let us help secure your property before prices run away. https://www.businessinsider.com.au/sydney-melbourne-prices-auction-clearance-rates-2019-7

The Sale of Land Amendment Act 2019 amends the Sale of Land Act 1962 (the Act) to require developers to obtain the purchaser's consent, or the permission of the Supreme Court of Victoria, before exercising a sunset clause. Sunset clause amendments apply from 23 August 2018 and: The legislation applies retrospectively from 23 August 2018 to protect purchasers who have existing residential off-the-plan contracts, or whose contracts may have been rescinded after that date. As of 23 August 2018, a vendor (the developer) must have the purchaser’s written agreement to legally rescind a residential off-the-plan contract using a sunset clause. As of 4 June 2019, a vendor may also seek an order from the Supreme Court of Victoria to allow them to exercise a sunset clause. A rescission effectively unwinds the contract as if it never existed, and returns the parties to their original positions. If a vendor attempts to rescind a contract using a sunset clause, the rescission will not be valid unless it occurred with the purchaser’s consent or with the express permission of the Supreme Court. Residential off-the-plan contracts that were validly rescinded by vendors under sunset clauses prior to 23 August 2018 are not covered by the reforms. Concerned purchasers in these circumstances should seek legal advice about their options.

Today's special find: Asking $160,000 in a suburb with median of $230,000 Big block land - 1030 sqm, 3 bed, 1 bath Weatherboard home. Currently leased at $230 per week, ie, 7.5% rental yield Potentials: - Positive Cashflow Property - Reno-flip - Subdivision (subject to council approval) - many more.

Finally, after almost 2 years of declining value, Melbourne and Sydney property has started rising. This follows 3 weeks of rising auction clearance rates, and vendors pulling their properties off the market here in Melbourne. As we've been suggesting for the past 2 months, there's likely going to be a 3 to 5% rise by end of the year. Jump in before the FOMO monster jumps in. Get in touch. https://www.smh.com.au/politics/federal/sydney-and-melbourne-property-values-lift-for-first-time-since-2017-20190701-p522ut.html

With Melbourne property prices having fallen to 2016 levels, this article identifies where the affordable suburbs and predicts where the next growth suburbs could be. But that's not necessarily where the bargains are. Good bargains can be found across many metropolitan regions. But they would not be published in any articles as they pop up quite randomly are snapped up quickly. Have a chat with us, we will find one suitable for you. https://theurbandeveloper.com/articles/affordable-suburbs-forecast-for-housing-growth

Property development in Victoria will now attract stamp duties, even if you do not own the property. Speculations are that other states are likely to implement similar changes. https://www.afr.com/real-estate/commercial/a-massive-change-victoria-rewrites-stamp-duty-rules-for-developers-20190529-p51sbv