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Tag Archives: Raine & Horne

Selling in a Tough Market!

20 Monday Jun 2016

Posted by glenngrantham in Auction, Bidding, Breaking News, Buyers, Darwin, Darwin, Northern Territory, First Homebuyers, Investment, median house price, Northern Territory, Raine & Horne, Real Estate, Sales, Sell, Selling, Uncategorized

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$$$$, Auction, Boom, Darwin, First Homebuyers, Home, House Price, Median, Northern Territory, NT News, Property, Raine & Horne, Real Estate

The 2016 Darwin Residential Sales Market is presenting as one of the toughest if not the toughest market in which I have been involved over the last 28 years in Real estate.

Now that is really saying something as I started my career selling homes in the ‘recession we had to have’.

woman piggy bank

The lowest sales No’s on record in Darwin since the REINT started keeping statistics in 1999.

But I am not here to belabor the point as to how tough it is for the poor old Real Estate Agent. Because unless you are a Real estate Agent who would actually care?

What I am here to talk about is something we are seeing that is making the job a little more exciting as we are at least getting some traffic through the door and having the opportunity to talk to someone rather than just putting out and collecting Home Open signs 8 times a Saturday.43 Ridgehaven exterior

In the NT the Auction system is a much maligned and avoided tool. We hear all the excuses from ‘Auctions are Expensive’ to ‘I’d never buy at an Auction’ however I can tell you that they are currently getting more people through the door.

Over the last 2 years I have tracked the No of attendees at our Home Opens and the average has diminished over this time from 3/open to where it currently sits at 0.7/open.

The last 5 auctions we have conducted had an average of 7 attendees per Home Open and there were 38 people in attendance at the Auction just 2 weeks ago. 4 out of 5 properties have sold so far in the Auction Program (coincidentally only 1 Under Hammer) and we are dealing with buyers on the other.gavel-hi_2690411b1

Now that is not to say that we recommend Auctioning everything however it certainly makes a strong statement in a market where the average Days on Market is in excess of 120 days and approximately 8% of properties are selling of those listed for sale in any month! Meanwhile we have an 80% strike rate on Auctions…..Just Saying!

There is one thing that I do know for sure and that is that ‘You can’t sell a home if you do not have a buyer’ and the traffic of potential buyers certainly increases during our Auction campaigns…..it stands to reason that you would have an increased chance of sale in a Tough Market?

 

Zuccoli Aspire News May 2016

23 Monday May 2016

Posted by glenngrantham in Boom, Breaking News, Buyers, Darwin, Darwin, Northern Territory, First Homebuyers, INPEX, Northern Territory, NT News, Property, Raine & Horne, Real Estate, Sales, Sell, Selling, Uncategorized, Zuccoli Aspire

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$$$$, Boom, Darwin, First Homebuyers, Home, House, House Price, INPEX, Investment, Northern Territory, NT News, Property, Raine & Horne, Real Estate, Zuccoli Aspire

Here is your chance to catch up with all the news about the fastest selling Land Estate in the Northern Territory straight from the mouths of the Developers.

Investing in Real Estate 2016

10 Thursday Dec 2015

Posted by glenngrantham in Darwin, Darwin, Northern Territory, Fashion, Ferrari, Investment, Real Estate, Uncategorized

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Darwin, Raine & Horne

In several States and Territories around Australia you will hear the cry that it’s a ‘Buyers Market’. Meanwhile in the population capitals of the country real estate speculators have just reaped the rewards of ‘Superheated’ Markets.

A Bull market is never the time to enter as a purchaser especially if you are an investor. So what happens to the savvy investor in 2016? They either take their new found wealth to buy a Ferrari or alternately look for sage investment opportunities outside the major capital cities which offer opportunity for Capital Growth and return.

So if you are not buying a Ferrari here are my tips for the 2016 Property Investor.

Ferrari

Get out of your own Backyard

Backyard

Throughout my real estate career I have witnessed investors purchasing property close to their own home so that they can ‘Keep an eye on it’.

In my opinion this is one of the silliest reasons I have heard to drive a buying decision which should be based on figures rather than whether it’s close enough to show your mates.

You already have a large investment in the area that you live and chances are you didn’t buy there because of the growth rate or the return. A decision to purchase an investment in that same area may therefore be based upon the wrong indicators as they are two very different transactions.

Any stock broker worth their salt will tell you to diversify your portfolio through the acquisition of shares in different Companies. This is a technique which enables you to spread the risk. Real Estate Investments should be viewed in a similar fashion.

Don’t Forget to Buy

Buyer

Day 1 in real estate some 27 years ago I was handed a ‘Funny Fax’ hot off the roll next to my desk which had a picture of an old bloke with his beard down to his knees and a walking stick in his hand. The caption read ‘This is the picture of the young man who waited for the price of Real Estate to come down’.

Great advice. The median price when I started selling was under $100 000 so things have risen a bit since then!

Do not get too caught up in analysis and fail to make a decision over whether you think that the market might drop another $5k before it hits the best value. You are purchasing this investment with the long term in mind and in 10 years’ time when the price has doubled, chances are you won’t even remember what the purchase price was.

Another wise man said to me that the only time that you know that the market hit the bottom is after the price already went up. Unless you have a crystal ball or a time machine then you will be well served to listen to those blokes called Agents. If they are suggesting that it is a Buyer’s Market it is because they know that properties are taking a while to sell so make sure that you don’t forget to buy.

Maintain your Property

Handyman

Just because you have a Professional Property Manager looking after your property and you have awesome tenants you will be needing to spend some money on the ongoing maintenance of your investment property. Especially if you want it to look the same when you get it back as when you handed it over

No matter how good your tenants are they are highly unlikely to do improvements to your home or invest money into the upkeep. Your home will suffer wear and tear. The ATO even allows you to claim it so they know it is going to happen. Make sure that you are prepared for it.

Factor this expense into your Annual Budgeting so that you are doing everything you can to elevate your future Capital Value when it comes time to sell. If you budget on a shoestring you will be handed back a very different home to the one that you initially purchased.

Take full advantage of cheap money

Money

Interest rates probably won’t remain at historic lows for ever. Though the Reserve Bank has not yet given any indication of an impending rate rise, I would still suggest investors take advantage of the current situation and consider locking in rates where possible. Money is cheap now, but it can’t last forever.

Darwin is pretty damn good

Darwin Waterfront

Finally, none of us really know what 2016 will bring. We can’t actually say for sure whether interest rates will rise, fall or stay the same. Nor can we predict with complete certainty the locations or property types which will provide the greatest capital gains or the highest rental yields.

What I can tell you is whilst Darwin’s median rental prices have come off over the last 12 months their yields have remained the same as the highest in the Country. This is due to the median prices dropping also. Combine this with the opportunity to access cheap money and investors entering the Darwin market are actually better placed from a cash flow perspective right now than they have been over the last 5 years.

Why would you put your money anywhere else…..and we have Crocs to protect it for you!

If you require further information about this article or would like to chat about the marketplace in general then do not hesitate to email me on glenn@rhdarwin.com.au

Darwin Home Sales Market Erupts!

12 Thursday Nov 2015

Posted by glenngrantham in Boom, Darwin, median house price, Northern Territory, Raine & Horne, Zuccoli Aspire

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Boom, Darwin, Home, House, Median, Northern Territory, Raine & Horne, Sales, Zuccoli Aspire

BOOM Selling!

20150610_173319_resized

Amidst recent Gloom statistics for the Darwin Residential Sales Market which indicated that Home/Unit Sales Market had lowered in volumes over the last 12 months by 24.9% – 64.1% there is some serious sales action happening.

Zuccoli Aspire has launched the sales of Stages A1 & A2 with contracting commencing today!

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Already there are confirmed HOLD’s on 55 of the 80 blocks available for sale which follows the 139 sales in Stages 1A & 1B which are fast approaching the commencement of the settlement process. Raine & Horne Darwin are expecting this to be Sold Out by the start of December.

Have a look at the attached VLOG and see what is being said about this exciting new development.

https://youtu.be/O2ZBAGeCJgk

Bali AWESOME Conference No 4

09 Monday Nov 2015

Posted by glenngrantham in Awards, Awesome Conference, Bikini, Darwin, Nudity, Raine & Horne, Swimming

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Amazing Race, Awards, Awesome Conference, Bali, Bikini, Darwin, Raine & Horne, Swimming

We invaded Bali for our Annual pilgrimage to attend the Raine & Horne Darwin Awesome Conference once more in October.IMG_3307

This event is open only to those amongst our team who qualify for their Golden Ticket which is bought about by achieving your Targets which are set above and beyond their every day KPI’s.

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So everyone who qualifies for this ticket has well and truly deserved their opportunity to be part of the Awesome Conference 2015 as they have gone above and beyond.

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That said…..on with the show!

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Which commenced with our Special Guest Speakers, Mark Wilton (Journalist) and Amy Day (Marketing Specialist) who entertained the team with some great stories about their industry.

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Then it was a quick 2 hour break before attending the Gala Dinner and rocking on to the band. There was a small party who continued on to the wee hours of the morning however that was just so that Tony Abbott could experience some of the nightlife with his body guards (or so the drunk bloke thought at 2am in the morning).

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Allegedly there was a moonlight dip in Kuta Beach at about 3am which probably explained why there were a few sore heads the next morning for the Amazing Race.

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Which commenced as we all piled aboard a fleet of restored VW Combi’s which were fitted out as limousines…..complete with amazing sound systems.

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These ferried our teams around the island to some great destinations including the smelly Jimbaran Fish Markets where some of last nights cocktails almost made a reappearance.

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And finished by setting us down at the beach temple for a blessing followed by some relaxing lunch time fare. Naturally the winners were Team Orange however because I was on the team and it wouldn’t be good for me to win as the GM I told the organiser to give it to Team Yellow as they tried hard?Bali 2015 002Bali 2015 008IMG_8402IMG_8384

Then a day of Swimming, Waterslides, Massages and R&R before boarding that great 3am flight home….Some of us made it to work on Tuesday….in body.

Melbourne Cup Fashions

04 Wednesday Nov 2015

Posted by glenngrantham in Beauty, Darwin, Fashion, Glamour, Ladies, Melbourne Cup, Northern Territory, Raine & Horne, Real Estate, The Melbourne Cup, Women

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Darwin, Fashion, Glamour, Melbourne Cup, Northern Territory, Raine & Horne, Real Estate

My mates and I always referred to Race Day at the track as ‘The day the Spaceship Landed’. Reason being that we were convinced that there was not this many beautiful women in the whole of Perth as there was on Race Day at the track….so clearly a Spaceship bought them all to town and then gathered them up at the end of the day and whipped them off back to a parallel universe!

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Well it appears that the same Spaceship visits Darwin on Melbourne Cup every year and it’s not limited just to the track….they drop them at my office in Raine & Horne Darwin as well!

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Not to be denied the guys have a crack also however their idea of fashion is at times somewhat skewed and at others just obtuse.

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But apparently in this crowd it’s Obtuse that wins the prize….well for the guys anyway because Emily just looks beautiful.

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In saying that the barman is always far more attractive the later the day gets.

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The race was a cracker this year and in the same vein as the actual Melbourne Cup it was won by a female jockey. Some of the Male riders just lost their way and had way better things to do.

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Cracking good day with good fun had by most…..if not ALL!

Landlords urged to keep quality tenants in Darwin Rental Market

29 Tuesday Sep 2015

Posted by glenngrantham in Darwin, Investment, Raine & Horne, Real Estate, Rental

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$$$$, Darwin, Property, Property Management, Raine & Horne, Rental

Darwin landlords urged to move early to keep quality tenants

Quality Tenants

With vacancy rates plateauing at about 5.5%, landlords are being urged to pay attention to quality tenants to safeguard them against an empty property this wet season.

“The reality is that there is still a surplus of 1,200 rental properties in the Darwin market, the same figure as 6-8 months ago,” said Glenn Grantham, General Manager, Raine & Horne Darwin.

“The market is levelling out with virtually the same amount of new tenants and new rental properties hitting the market every month.”

Raine & Horne Darwin, for example, is averaging 20 new managements a month and 20 new leases.

“We have consistently had about 25 vacant properties at the end of each month for the past six months. Yet we’ve been putting on 20 new managements and leasing around the same number of rental properties. This means we have a lively rental market, but the new activity isn’t eating into the surplus – it’s a zero sum game,” said Mr Grantham.

With the Darwin investment market in a holding pattern, Mr Grantham warns that the duty is on landlords to be sensible about their weekly rental expectations.

“If you are putting the property into the rental market for the first time, you need to be realistic about the asking price. This means listening to your property manager and checking out online what similar properties are leasing for,” said Mr Grantham.

“If you don’t listen to the market, you’ll be an investor without an income.”

Fuming Landlord

For landlords who are facing the end of a lease, Mr Grantham advises them to approach their tenant before they test the market.

“If you have a tenant who is looking after the property and paying the rent on time, approach them immediately with some carrots, such as a discount on their current weekly rent, to ensure they stay put.

“Don’t try and convince them to stay after they have decided to move on. By then it will be too late.”

The strongest rental markets continue to be in the housing markets in the northern suburbs of Darwin such as Milner, Jingili and Moil, where yields of 5.5% are still possible and vacancy rates are below the Darwin average.

“There are 350 two bedroom apartments sitting vacant in Darwin, so this market still has some way to go” said Mr Grantham.

Real Estate Clerical Team

07 Monday Sep 2015

Posted by glenngrantham in Clerical, Darwin, Property, Raine & Horne, Real Estate, Rental

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Clerical, Darwin, Property, Property Management, Raine & Horne, Real Estate, Reception, Sales

I took the opportunity a while back to have a chat with my ‘Front Desk Superstars’ so I could find out what they thought about working at Raine & Horne Darwin.

They are the new breed who are at the doorstep of a future in Real Estate. It’s great to know that they are not just pretty faces.

So many of our senior people in both Property Management and Senior Support Roles started on our front desk.

Have a listen to what makes them tick!

https://www.youtube.com/watch?v=M7IGPvntrPE&feature=youtu.be

Market Update – Darwin’s No 1 Selling Development

28 Friday Aug 2015

Posted by glenngrantham in Buyers, Darwin, First Homebuyers, Property, Raine & Horne, Real Estate, Zuccoli Aspire

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Buyers, Darwin, First Homebuyers, Property, Raine & Horne, Real Estate, Zuccoli Aspire

I grabbed the opportunity to talk with the guys responsible for handling the sales in Zuccoli Aspire and see what was next for Darwin’s No 1 Selling Development.

132 Contracts Exchanged in 8 weeks with less than 10 blocks available in Stages 1A & 1B means that the Developer is fast tracking some more land.

Find out what is going on in the attached VLOG below.

https://youtu.be/ZzLeK5w7ZHA

Zuccoli Aspire Logo_ƒ

Darwin Home Sales

27 Thursday Aug 2015

Posted by glenngrantham in Buyers, Darwin, First Homebuyers, Property, Raine & Horne, Real Estate, Zuccoli Aspire

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ABC, Buyer, Darwin, First Homebuyers, Interview, Property, Raine & Horne, Real Estate, Selling

The volume of Sales in Darwin dropped dramatically in July.

Here is a grab of the ABC Interview from yesterday discussing the reasons why!

https://glenngrantham.files.wordpress.com/2015/08/grantham-grab.mp3

Zuccoli Aspire gets a good run as it’s the only stuff selling well in the Darwin Area right now!

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