November 22, 2014
Brisbane is doubtlessly full of opportunities for the new investors in property sales market.There are right factors found that suggest a higher capital growth rate over the next few years and this has been a valid presumption that can come true since past is the proof about Brisbane growing.
A June Quarter review 2014 Housing Market Review by The Real Estate Institute of Queensland (REIQ) has mentioned in its report how there has been glimpses of definite property optimism at the market for the time of 2014. They have sighted released points to strong growth in the property valuation Brisbane market.
Following a period of challenging conditions, the Gold and Sunshine Coasts are also starting to bounce back as buyers in both markets grow more confident. Confidence is also building in Logan, with median values up 1.9 per cent in the June quarter. Median values also rose in Ipswich (one per cent), Moreton Bay (0.7 per cent) and Redlands (1.9 per cent).
Where to invest in Brisbane will depend on the strategy you adopt and your budget decides itself. In a rising market still the suburb will achieve much stronger capital growth and no on in the property will be able to boil down their answers for how are present demands and supply operate in Brisbane. There cannot be a more well researched and education data on property investments. Buyers and sellers decide it as no professional in the market can do this.
It usually depends what exactly the buyer is looking for. Suburbs are much preferred by senior citizens, investors for future prospects and couples wanting their children to grow away from the city. How can one house represent both good and bad value? A while ago we gave a talk to 100 high-net-worth individuals and we asked participants to “value” a property. The estimates ranged from $300,000 to $1.2 million on the same house, which proved one thing: people have very different opinions when it comes to value.
However, three aspects buyers think about when determining the degree of value of a house.
Aspect #1. Price, Position and Property: What will give the best in return and also capital and renovation costs are to be considered.
Aspect#2. Range of Values: There are agents providing you a range of values now the buyer has to decide.
Aspect#3 Making the financial sense out of the property: What is the growth of capital if invested? What renovations will cost them and what are changeover costs due to home move
Whatever, it may be the valuation of the house property, price that the investor invests in the property has to be considered in the finality. Since, all said and done what the valuator will value, whatever the banks estimates are all just a bunch of opinions tagged ‘expert opinions’. Variation in the Valuation can be found without doubt. Buyers can compare the valuation done by the council, bank, agent and other bidder valuations. All of them will differ to the real price paid on the next door neighbor’s house.
Also it might be stunning to you that two bank valuations meant for the same house property could give you a huge difference of values. Hence, when it is about investing in a property, create your own thoughts as opinions based on what exactly you value in the house and not what the bank or the next door neighbor values. If the house property is of a great value to your for several reasons, invest, buy, stay happily. But do not forget to do the ground of valuation yourself before even entrusting your valuator the job of valuation.
November 7, 2014
A valuation is an educated and trained outlook on the fair market value of the property. It also at times ascertains the optimal use of the property, thereby garnering the valid selling price.
When you decide to buy or sell real estate, you require a valuation. The primary objective here is to discover exactly what your property is valued. Banks and other lending agencies usually need a valuation report, before they provide a buyer with a mortgage.
Registered and licensed property valuers furnish an impartial, expert appraisal of any property’s value.They are required to be university qualified in the technicalities specific to the property valuation domain and should also undergo an additional three years of postgraduate working experience prior to an additional examination to be termed as a registered valuer.
Making sure that the valuer is holding enough experienced in the valuation work they are required to perform should be given due attention. In majority of the instances, banks and lending institutions will only accept a valuation for mortgage purposes from a Registered Valuer.
Apart from valuations for mortgage finance, registered valuers can also offer assistance in the following:
i) Appraisal of property before its sale, ii) Projection of a property’s probable value on culmination of the required renovations iii) Valuation for insurance tax and trust reasons, v) Assisting in finishing depreciation schedules for tax claims, vi) Estimating values post proposed subdivision. Valuers are generally listed various yellow pages directories as valuers or registered valuers. Alternatively, getting a recommendation from a bank or real estate agent is also a worthy option. It is always recommended to educate yourself about the objectives of availing the services of a property valuation expert. You can begin with having an obligation-free telephone conversation meant to gauge the experience of valuer in the valuation domain as needed.
Providing them with a timeline to finish the valuation is also important. The valuer may also find it useful if you can inform them of your bank or financiers’ specifics, since their actual report will generally require to be addressed to them. A genuine and expert property valuation is a pre-condition to selling a property or availing credit against it as collateral.
It is also advisable that the property valuation service providers be able to themselves provide testimonials from their previous clients who can be reached to provide bankable advice.
October 21, 2014
To start off it is important to only look for property valuers who have a valid certificate to carry out their business in the city where they are operating from. This is a mandatory requirement and there cannot be any compromise on it. A certificate issued by an uncertified valuer is equal to a junk piece of paper and hence customers should be aware of this.
The next point that is of significance is to look for valuers who have a formal education and qualification on the subject matter of property valuations Melbourne. Though not mandatory in most of the cities and provinces, it certainly adds a lot of confidence and value to the customers. When we talk about customers in the valuation business it is not only restricted to individual customers. There are also banks and financial institutions and even government departments who are also customers for valuation companies and individual. It has been found that these corporate customers and big players always would like to associate with real estate appraisers and valuers who have a formal qualification to boot.
Amongst the various other attributes that a good valuer should posses, the importance of experience in this line cannot be ignored. No amount of qualifications or certifications can match a valuer who has put in years of experience behind him. Experience helps valuers to handle even the most complicated valuation without much of a problem.
Experience apart, a good property appraisal company or individual is one which can handle any type of valuations. They should not restrict their services only to vanilla property valuations. They should go much beyond this and offer their services for compensation valuations, valuations that have a retrospective effect. They should also be willing to value other movable and immovable properties instead of just being satisfied with real estate valuations alone. While rates are indeed important, valuers should never let go of their quality in pursuit of offering their services at economical rates.
October 21, 2014
Buying a property in Jamaica is not a bad idea provided you know how to go about it. If you are a foreigner you should be aware of rules and regulations governing investment of property in this country. There are separate rules and regulations which need to be followed. It would not be possible for you to go ahead with property purchases on your own. You have to take the help and assistance of the best property valuation company in Sydney at each step. There are quite a few such professionals that you should be on the look out for. First and foremost, identifying the right property in Jamaica as a foreigner would require you to hire the services of a reputed and experienced real estate agent. They will certainly lay a big role in helping you to identify the right property at the right price.
The next important professional who has an important role to play is the real estate valuer. Those who have experience in buying and selling of properties will certainly agree that the role of real estate agents is very important to say the least. Hence, it is important to identify the right valuer who will play a big role in helping the buyer to find out the fair market value of the property in question. Further a good valuers’ report will also have a lot of subjective information about the locality, neighborhood, infrastructure development, availability of various facilities and amenities. All these will also help a foreign buyer to take a decision whether to go in for such purchases or not. In fine, when identifying a good valuer in Jamaica one has to bear in mind the fact that he or she should have a reasonably good experience in handling valuation related matters of foreign buyer for a reasonably long period of time.
June 18, 2014
There is no denying the fact that buying a real estate property is quite a job. This is because there are a number of important things that need to be considered. There are a number of loose ends that have to be tied up. Further, it is also very critical for customers to take the help; of professional valuation companies Perth to help sail through the entire transaction without too much of hiccups and problems. Amongst the various professionals who have a big role to play when buying or selling a real estate property, there is no doubt that property valuers are considered very important. Apart from ensuring that the stakeholders get right information about the fair market value of the property in question, there is also no denying the fact that they come out with very useful pieces of information which are of great value to both the buyers and sellers.
However, the challenge is to identify the right valuer from amongst a crowd of such service providers. This is easier said than done and as an ordinary customer it might be difficult to separate the grain from the chaff as far as quality of these valuers are concerned. Here are a few important points that ought to be kept in mind while looking out for these professionals.
First and foremost, you have to always look for valuers who are certified under the law to work as appraisers or valuation professionals. The next point that is of importance is to hire only those valuers who have put in at least 10 to 15 years of service in this business. Only experience valuers will be able to offer a one-stop solution for all matters related to valuation.
While a formal qualification on valuation may not be mandatory, many customers, both individual and corporate, are keen on working only with chose who possess a formal qualification in this field. In fact it would be pertinent to mention here that most of the banks, financial institutions, government departments and reputed real estate attorneys and lawyers would like to do business only with valuers who possess a formal qualification.
Last but not the least, good valuers are those who can offer all types of valuations and also employ the right method of valuation keeping customers interests in mind. Offering their services at affordable and competitive rates is also very important when looking for these professionals.
June 3, 2014
You should check out whether the valuer whom you are planning to hire has a valid certificate or not. Hiring a valuer without a certificate is equivalent to paying a visit to a quack believing that he is a qualified doctor. Certification imposes certain responsibilities and duties on the valuer in Brisbane failing which he could be hauled up by the concerned authorities.
The next important point that should be taken into account when hiring these professionals is to look for only those who have reasonably big experience in this field. It is always better to hire valuers who have spent at least 10 years in this business if not more. Experience will certainly help the valuers to handle even the most complicated cases easily. Further you should hire only valuers who offer the entire gamut of valuation related services under one roof. He should be a super market as far as all valuation related requirements are considered.
He should also be willing to make use of the internet and other modern technologies when valuing a property valuer. Today there are many valuers who are ready to offer online valuations because it helps save time for the customers and also increases overall efficiency and productivity for the valuer. It is also very important to hire only those professionals who have a formal qualification on real estate valuation. Though this is not mandatory, there are a number of obvious advantages when one hires valuers with formal qualification. They are better equipped to deal with real estate lawyers and attorneys.Even government departments are more comfortable working with real estate valuers who have a formal qualification on the subject matter. Last but not the least, timely submission of reports and being competitive in costs are also important points to keep in mind when hiring these professionals.
October 16, 2014
Residential property conveyancing is the term used for transferring the ownership or property from one entity to another. There are a number of steps and formalities involved in the whole process. The main objective of these formalities is to ensure the safety and security of the interests of both the buyer and seller. It is important for the buyers in particular to understand the entire process so that they end up buying the right property. It has to be borne in mind buyers often spend thousands or even millions or dollars for purchasing a property. They have to therefore exercise extreme care and caution when dealing with such large sized property transactions. The whole process of property conveyancing gets started once you have identified the right property, taken an approval from the banker for raising mortgage loan and have in principle agreed with the sellers that you are keen on buying the property out.
Once this has been completed, you should approach a local property conveyancer or solicitor and ask for their help for transferring the property in the name of the buyer from the seller. If you are not aware of the right conveyancer you could take help from the internet or other sources of information to identify and shortlist one who you think will meet your specific needs and requirements. Once the commercials and the time frame have been frozen the solicitor will write up the formal purchase or sale contract. This will contain details of the property, location, size, and the price at which it is being bought and also the mode of payment and the time by which they payment will be made by the buyer. It will also contain an undertaking by the seller to transfer the ownership of the property to the buyer. This will ensure that at the end of the transaction, the buyer gets full and uninhibited rights and title over the property.
There are other tasks that are also a part of a professional conveyancer in Sydney. These include checking on the legal sanctity and purity of the property. Special care is taken by the conveyancers to find out whether there are any easements or other covenants that could impact on the full and undisputed title over the property. There is also the important role of property valuers who help in finding out the fair market value of the same. Any good valuers’ reports also contain other subjective pieces of information which is very helpful to the buyers.
September 27, 2014
While valuation is very important whenever there is a need to transfer ownership from the seller to the buyer, there is no doubt that there is a subtle difference between commercial property valuation and residential property valuation. The main objective however remains the same. The appraisal part is basically to find out the saleable value of the property in question after taking into account various parameters and inputs. As far as the seller is concerned it is very important because it prevents him from acting in a hurry or selling the property in duress. Similarly, the buyer also stands to benefit from such accurate and meaningful property valuation reports. He knows for sure that the is buying the property at the right price and is not paying a dollar more than what the market recommends for it. Hence, there are a number of advantages and benefits that are available to customers because of these valuation reports.
Now coming to specifics attached with commercial property valuation, the main objective is to find out how rentable or leasable the property is. This forms the basis for valuing the property. Though there are other factors such as age, size, location and quality of the building that are of significance, the main purpose for which commercial properties are bought is to ensure that there is a steady and continuous flow of lease or rental income. Hence, this is the main area of thrust whenever a commercial property is valued.
The income approach is all about the estimated income that could be generated from the property either through rent, lease or outright sales. This is the most widely used method of valuation as far as commercial properties are concerned. Let us now try and find out the various methods that are used by valuers to value a commercial property. they are the income approach, the cost approach and lastly the comparable sales approach. Each has its own advantages and specialties and the onus lies on the valuer to choose the one that suits his requirement and final objective the best. The cost approach is all about valuing the property based on the current costs. It talks about the monetary support that would be required to recreate such a property after factoring in various pluses and minuses. Last but not the least, comparable sales approach is all about valuing a commercial property taking into account the historic sales proceeds of similar properties in the areas.
September 10, 2014
Given the fact that property valuation is a very important aspect for smooth transfer of ownership from one person to another, it is expected that property valuers should be the best in the business. It is a highly demanding job and there are hardly any room for errors and mistakes. It is therefore not something that could fit the bill for anybody and everybody. Hence, in this article we will try and have a look at the various attributes that one should have as far as quality property valuation is concerned. This will certainly enable the customers to have some basic understanding about the qualities that a property valuer or appraiser should possess.
First and foremost it is important for property valuers to have put in at least eight to ten years experience in this field. This is very important because experience is extremely critical for a valuer. Some of the most complicated and difficult property valuations have been successfully handled by valuers who have years of experience backing them up. While there is no denying the fact that qualification and skill sets are important, nothing perhaps can match experience as far as this field is concerned.
The next important job is to look for valuers with a good network as far as banks and financial institutions are concerned. This is because some of the biggest volumes of business are generated from banks and financial institutions. Certification is another important point that should be always kept in mind as far as these service providers are concerned. Getting a property valued by a valuer who is not certified is akin to getting yourself treated from a quack rather than from a doctor.
Timely submission of reports is another point that should be factored in when looking for the right property valuer. Any property valuation has a time limit attached to it and the same must be adhered to under all circumstances. While there is no denying the fact that rates form an important component of a good property valuer, this alone should not be the deciding factor. A good property valuer is one who should be able to match quality with competitive rates. Last but not the least it is also very critical to only hire those property valuers who understand the importance and significance of modern day technology. This is because even today many valuers continue to remain in the dinosaur age and send documents and papers through courier service and ordinary mail services.
August 28, 2014
It is a known fact that property valuation is an extremely important component of any property buying and selling. In most of the cases the ownerships of the properties get transferred to the buyer from the seller only when the valuation of the property has taken place. Valuation is a part of the overall conveyancing process that involves quite a few processes, steps and formalities.
The main objective of property valuation is to help all the stakeholders to have a clear idea about the fair market value of the property in question. This is done by valuing the property using various inputs, data and other relevant information. The valuers also go through the property documents and also visit the properties if required. Only after thorough scrutiny and examination, do they come out with a valuation of the property. Since the valuations have legal ramifications, there is a need to exercise care and caution. Hence, once qualified, certified and experienced professionals will be able to conduct such valuation.
While the indispensability of property valuers is beyond doubt, there is no doubt that running a valuation business successfully is not an easy job. There is hectic competition out there in the market place. Further there are many changes that keep happening at various levels which also impact the business both positively and negatively. Last but not the least, customer buying habits have changed quite dramatically and this is impacting valuation business too.
Given the above scenario, there is a need to find out ways and means by which the business of hundreds of valuers can be secured. The first thing that they should be doing is to understand the growing importance of the internet. There is no doubt that over the next few years a major chunk of valuation business will be done online. Therefore the onus is on the property valuers to find out ways and means by which they can be aggressively present on the internet.
Apart from sharing information and company profile, there is also the need for these valuers to generate potential leads from prospective internet customers. Towards this objective they should how to use the various internet marketing tools to this advantage. Further, there is also the need to become members of chambers of commerce and other like minded communities which have many valuers under one umbrella. Last but not the least, the objective should be to move towards online valuation over a period of time.
August 13, 2014
When buying or selling a home, there are a number for formalities and procedures that have to be gone through. The transfer of property ownership will happen only when these procedures are going through. However, one has to bear in mind that these formalities are quite complex. Therefore it may not be possible for ordinary customers to go through the same without the help and support of professionals. Amongst the various formalities, valuation of properties is considered to be very important. The main objective of property valuation is to assign a fair market value of the property in question. While there is no doubt that the market will be a reasonably accurate indicator about the value of a property, once it has the seal of approval of a certified and qualified property valuer then it has a legal sanction to it. It would be pertinent to mention here that the valuers’ reports form the basis for calculation of property taxes and for also calculating stamp duty amounts.
Though there is no doubt that there is a regular and continuous requirement of property valuers, the market is becoming tough for even the most experienced professionals. Competition is increasing and along with this the market scenario is also become quite different. Given the above circumstances it is very important for property valuers to find out new ways and means by which they can move their business from one level of success to the next higher level.
Adapting to new challenges and new ways of doing business is of paramount importance as far as valuation business is concerned. It has to be borne in mind that modern day customers are very information savvy and therefore as valuers one must be ready to provide the same to the customers. Further customers today are looking at convenience and would like to have their products and services delivered at their door steps. The same applies to property valuation too. It would therefore be ideal for valuers to offer online valuation amongst other things in their bid to add more value to their customers.
While the above could make life easier for customers, it is also important for valuers to deepen and widen their network and relationships. Steps must be taken in the right earnest and taking memberships in chambers of commerce and other such institutes is something that must always be on the mind of valuers. Hence, innovation and invention is the name of the game as far as modern day property valuations are concerned.
July 28, 2014
The number of persons who fail in the field of real estate valuation is much higher than those who see success. It is therefore important for us to find out ways and means by which one can achieve more successful levels in this business. Let us over the next few lines try and find out some useful and pertinent tips that could help even new real estate agents to reach higher levels of success.
First and foremost one has to understand that real estate agency is a long term business and success cannot be expected in the short term. The whole process of building relationships takes time and effort and only then results will start flowing in. A successful real estate agency is all about effective networking and building of strong and dependable relationships. Unless this happens it would be virtually impossible to see results coming in. Further in today’s competitive world it is very important for real estate agents to always be on the lookout to build add value to their customers. Merely offering real estate brokerage or agency as a form of offering to the customers may work only for a limited period of time. It is extremely vital to ensure that the customers keep coming back to your over and over again with one or more requests pertaining to real estate properties.
This is one main reason why many real estate agents are looking and ways and means to supplement their incomes. For example it is now common to many real estate agents becoming property appraisal professionals and other such service providers. This is a business that is complimentary to the main line of business that is being run by them. Real estate agency business property valuation business might become inter dependent once a property has been decided either for sale and purchase. Hence it will help real estate agents to have a win-win situation. They will be able to sell both their products to both the customers. This will result in increased cross selling that will be helpful to increase the overall revenues of both the services put together. Hence, at the end of the day diversifying is something that should always be kept in mind.