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The Mercury Real Estate Guide : March 8th 2012
property MERCURY Thursday, March 8, 2012 --- 51 MERCURY MORTGAGE WATCH Fixed Rates Standard Variable Home Institution Phone Intro rate Intro Term Rate Equity rate 1 Yr Term 3 Yr Term 5 Yr Term Application Fee AMP 133030 6.09f 12 7.42 - 6.09 5.99 6.69 $545-895 ANZ 131314 - - 7.36 7.51 6.19 6.14 6.79 $600 Aussie 131 333 - - 7.4 6.59 6.29 6.19 6.69 $00-100 B&E Personal Banking 1300 306 716 6.90f 12 7.3 - 7.19 6.69 7.39 $650 bankmecu 132 888 - - 6.94 7.04 5.99 6.39 - $595 Citibank 132484 - - 7.62 7.99 6.14 6.14 6.45 $250-649 Commonwealth Bank 132 221 6.33f 12 7.41 7.56 6.48 6.48 6.89 $600 CUA 133 282 6.34v 12 6.72 7.22 5.95 5.95 6.69 $795 HomeSide Lending 132464 - - 6.9 7.88 6.84 6.99 7.44 $600 ING DIRECT 133 464 - - 6.84 7.32 5.99 6.19 6.89 $220-719 Members Equity Bank Pty Ltd 13 15 63 - - 6.74 - 5.99 6.19 6.69 $300 MyLoan MyWay 1300 721 240 - - 7.03 7.61 7.5 7.9 8.05 $00-395 MyRate.com.au 1300 663 558 - - 6.45 7.1 6.05 6.25 6.95 NAB 131312 - - 7.31 6.79 6.09 6.34 6.84 $600 Nationwide Mortgage (02) 9265 1700 6.45v 12 7.43 7.53 7.06 7.32 7.77 $710-730 QuickDirect 1300 79 69 80 - - 6.48 - 6.04 6.08 7.02 RESI Mortgage Corporation 136 126 6.20v 12 6.69 7.2 6.34 6.61 7.17 $660-1,210 St.George 133330 6.14f 12 7.42 7.52 6.29 6.24 6.84 $00-800 Suncorp Bank 131175 6.15f 12 7.43 7.43 6.15 6.14 6.95 $600 Westpac 132 032 - - 7.46 7.61 6.39 6.39 6.89 $60 The introductory rate reverts to the standard variable rate after the initail term f=fixed c = capped Source: www.infochoice.com.au FINANCE AND CONVEYANCING Make sure the price is right ANDREW WINTER EVERY week in property sections around the country I see vendors making a common mistake that ensures that they will not only annoy potential buyers, but that will ensure they are overlooked by a good number of them. Why anyone would do this -- especially at a time when the market is quieter and any buyer interest is to be seized upon with a large shepherd hook -- is a constant fascination to me. This common mistake is to fail to put a price guide on their property advertisement. And buyers absolutely hate it. Now while I understand the argument for non pricing, I tend to side with buyers on this one. The argument for not putting a price on your home is because it means a buyer has to make up their own mind about what it is worth to them. Currently, there are no legal obligations in any state around what that means -- a would-be buyer can name any price with impunity, even one that is insultingly low. And if you do choose not to put a price guide on your property, please do not be offended if this happens. Some agents like the idea too because it means that anyone who is interested in the property has to contact them -- and they can then qualify the interest, and direct them to another property on their books if they don't think yours is quite right. But for every buyer who picks up the phone or emails, there is no research to say just how many turn the page and look at a different house or click to another property. We all know that every seller wants the best price for their property. But vendors should try to see it from the potential buyers perspective. These people -- who are probably considering several other homes in the area, including yours -- and they want a clue as to what they are getting themselves in for. Even if price guides only provide a vague idea, it will help a buyer understand your expectations and match them. Homes that do not have an advertised price guide risk being overlooked or annoying many potential buyers who do not want to play the game. One of the worries of stating a price guide is that you will get less than you want when you sell or that the negotiation will only head one way -- south. But stating a price guide does not have to work one way. Here are your options. 1. Set an asking price that most people will expect either to pay, or to negotiate downwards from. This price attracts buyers and you then hope they will fall in love with your home. They may start with a little lower than the requested figure, but they can work their way up with some good old fashioned negotiating . It really can work. But be warned. Setting a price that is too high will be unlikely to attract any inspections whatsoever. Trust me - if your price is too high, no one will buy. 2. Set a price range or guide. In this instance, you should expect the final sale amount to fall between those two figures. Price ranges indicate that the seller is flexible, but does not tie you down as a vendor to a specific figure. If considerable interest is shown and offers go over, it all feels more acceptable as the price quoted was only a guide. 3. Set a minimum price. If you are a forced sale scenario, stating a competitive price will attract deal seekers because they know you are serious about selling. Sometimes this low figure attracts so much interest that buyers start to compete and a good selling price is actually achieved. In these scenarios, everyone starts low but has to go up. Andrew Winter is a real estate consumer champion and the host of Selling Houses Australia on The LifeStyle Channel. A sense of space SANDY BAY 21 Coolabah Rd Four bedroom rendered brick home with Colorbond roof House size: 230m2 Land area: 671m2 $640,000 Roberts Real Estate Hobart Matthew Wright 6231 0311 Open home: Saturday, 11-11.30am realestate.com.au ID: 109367411 A COMPREHENSIVE renovation has created a stunning transformation in this Sandy Bay home. It offers a flexible floor plan ideal for a growing family, with four good sized bedrooms -- all with built ins -- as well as two bathrooms and two living areas including a separate rumpus room. There's also a sunny, open-plan kitchen, living and dining room which creates a flowing sense of space throughout. At the rear of the property there is an entertaining area, which has also been stylishly upgraded. The property, set among established homes, offers plenty of off street car parking, too. goodmanconveyancing CONVEYANCING Fixed Price Conveyancing Personalised Service Obtain a free quote at www.goodconvey.com or call us on 6223 3888 100A Collins Street Hobart
March 1st 2012
March 22nd 2012