Wednesday, July 21, 2010

Gala Auction Day 4 September

Douglas Macarthur of Ray White Beecroft is organising a Gala Auction Day to be held at the Beecroft Bowling Club, morning of 4 September. Registration for bidding will be open from 9am, bidding will start at 09:30, and the event should be over by 10:30.
Those who list for the event with Ray White Beecroft before 7 August will receive discounted advertising and free promotion.
Contact Douglas (0408 87 239), or the office (9479 8444) for details.

Hornsby Housing Strategy for Beecroft

If you want to read Council's findings on the submissions sent by residents of Beecroft and Cheltenham, go to Part 4 of
https://businesspapers.hornsby.councilsonline.com.au/Open/2010/PL_07072010_AGN.PDF

It includes:
"A total of 3,341 submissions were received during the exhibition period, including individually written letters or emails, form letters and petitions. Submissions raised objections to the Strategy (or aspects of the Strategy), provided constructive feedback on how it could be improved, indicated support for the Strategy and suggested other precincts for inclusion. The attached Housing Strategy Volume 3a - Report on Submissions 2010 provides a summary of submissions. The report does not attempt to capture all of the information put forward in submissions. The report focuses on providing an overview of submissions, along with a snapshot of the reasoning, key local issues identified and suggestions made. A copy of all submissions (including late submissions received up until 14 May 2010) has previously been provided to Councillors. The major reasons for objection to the amended Strategy continue to be traffic generation, impacts on character/streetscape and uncertainty surrounding the provision of infrastructure."

And it concludes, for Beecroft, "no change", ie to be rezoned for 5 storey mixed development.

An analysis of submissions received is at:
http://www.hornsby.nsw.gov.au/uploads/documents/Housing_Strategy_Attachment_2.1.pdf
for an overall summary, in which it says only 2% of submissions were in favour of the proposal, which should be a message to the people driving this push to swamp Sydney with multi-storey housing.

Individual precinct analyses, including for Beecroft, are at
http://www.hornsby.nsw.gov.au/uploads/documents/Housing_Strategy_Attachment_2.2.pdf
and record that, for Beecroft, 443 form letters and 168 individual letters were received.

Of the individual letters relating to Beecroft, 13% (ie 20 letters) were in favour, 4% suggested alterations and 83% (140 letters) were against. Of the 443 form letters received only 3 (less than 1%) supported the proposal but say heritage should be preserved. Of the rest, the report records key issues were parking, traffic, character and infrastructure. So of the 611 submissions, 95% were against the proposal, but apparently that wasn't enough to influence the council.

The final paper
http://www.hornsby.nsw.gov.au/uploads/documents/Housing_Strategy_Attachment_2.3.pdf
includes submissions from Greg Smith and others and descriptions of the publicity methods used.

Tuesday, July 20, 2010

Ray White Beecroft Emails

In an earlier blog I warned that Ray White Beecroft had lost our email system during the power failure on 7 July. We reverted to a backup email system while the relevant databases were restored on our server, and have only just put everything back to normal operation.

In the process we may have lost some incoming emails dated after 6 July, or not responded promptly to some emails, for which we apologise and ask you please to contact us if you think this has happened to you.

Fortunately our Disaster Recovery system, with frequent automatic back-ups onto hard disks, and frequent cycling of physical hard disks to ensure a recent copy of all our information is always stored off site, is working fine. No actual information (property details, transactions, letters, etc) was lost.

Hot Idea for House Buyers - Bento for IPad.

I found the following on the Bento website, purporting to be from a young first-home buyer:

"It's easy to get overwhelmed when you're buying your first home. There are dozens of factors to consider: Neighborhood, price, square footage, year built, lot size, repair issues, landscaping—the list goes on and on. That's why first-time homebuyer Jessica Fonseca turned to Bento for iPhone to organize it all. “With Bento for iPhone, I can have all the information in one place. When my husband or Realtor talks to me about a house we've looked at, all the information is right there on my iPhone. It makes the whole process a lot easier to deal with and it was extremely simple to set up."

One interesting point made about IPads (I just bought mine!) is that it is easy to hand an IPad around at a meeting, whereas laptops are cumbersome, usually run out power during the meeting and need to be plugged into the wall, and can only be seen by those sitting directly in front of it. I am setting my IPad up so I can store all our rental and sale properties on it for use during home opens, appraisals, and other real estate activities.

Foreign Buyers Spooked

So says Sydney Morning Herald's Business Day, suggesting that overseas fund managers are concerned about the sustainability of a surge in prices over the past year. A survey in The Economist assesses Australian property as being the most over-valued of the twenty countries it tracks in Europe, Asia, and North America.
Mr Johnson, banking analyst for CLSA, is quoted as saying the catalyst for a meaningful correction in Australian house prices woud be rising interest rates, rather than unemployment. Interesting times!

Landlords' Expo

Nearly 150 people attended Ray White Northern District's Landlords' Expo on Monday night, to hear speeches from a range of property management specialists.

Nick Vrabac, CTTT Deputy Chairman Determinations, gave an excellent presentation on the workings of the Tenancy Tribunal - 50,000 hearings a year! Unasked, he explained one thing has always puzzled me. Why are we not allowed to send eviction notices by registered mail? The answer is that the law allows us to assume a normal letter will arrive within four days. To prove they didn't receive it the tenant must explain what happened to the letter while it was in the possession of the post office! With a registered letter, the tenant must actively receive and sign for the letter, and let's face, which tenant in arrears and anticipating an eviction notice would sign for a registered letter from the estate agent? And if they don't sign for it, it's not been received!

Friday, July 16, 2010

Auction Cancelled - Property Sold Prior

Ray White Beecroft advise that the auction due Saturday 17th July at 34 Austral Avenue is cancelled, the property sold Friday afternoon.

Tuesday, July 13, 2010

Landlord Expo 19 July

Ray White Beecroft, as part of the Ray White Northern Suburbs group, is pleased to offer landlords the chance to attend a Landlord Expo, in Stamford Macquarie Park, on 19 July at 6:45 pm. Several guest speakers will provide talks on issues of vital importance to landlords, such as your rights and obligations, improving your asset value, and optimising finance.

If you want to attend, contact us at 9479 8444.

Monday, July 12, 2010

House Auction Clearance Rates Latest

According to a report in the Sydney Morning Herald, auction clearance rates this weekend were 49%, the poorest result for 18 months. Another statistic of note was the increase in "sales prior", indicating that vendors recognise the market stalling and are keen to sign up to a sale. So this must be a good time for canny buyers to get in with offers!
But Australian Property Monitors gives more detail than did the SMH summary, showing that while the auction clearance rates over the weekend were down considerably in Melbourne and Brisbane, those in Sydney and Adelaide showed modest gains.
That fits in with viewing statistics on the Ray White Beecroft web site raywhitebeecroft.com.au which registered more hits last week than for a long time, so there is still lots of interest out there in the upper and middle markets of Sydney property.

Saturday, July 10, 2010

Gutter problems

High-fronted gutters look nice but damage your house! Housing NSW admits it no longer uses these gutters on new projects because overflowing water runs back into the house causing all sorts of damage.

Penthouse bargain

A luxury penthouse just sold for $7.5m, had sold in 2008 for $10m. Agents blame the slowdown in high end sales on the economy and a glut of luxury penthouses.

Friday, July 9, 2010

Should Fences Be Dog Proof?

How about this for a newly fitted fence, with a gap so large the owner has had to fit chickenwire to stop her dog (or small children!) from escaping.

The question is, are there standards for how a fence should be fitted? The quotation from the supplier gives details of length, height, materials, even penalties the company will impose if the owner "impedes start of work". It even includes 7 year warranty on workmanship. But nothing about whether it would, or should, be dog-proof.
Ray White Beecroft manages one of the properties involved, whose owner consented to have the fence installed. We tried to discuss this with the fence company involved, but they refused to discuss it. Their contract was with the owner of the house on the other side.

Wednesday, July 7, 2010

Power and Emails Out

Due to a fire in a local power substation, Beecroft had a widespread power loss overnight, restored mid morning.
As a result Ray White Beecroft lost emails for a while. Bear with us while we restore everything.

Tuesday, July 6, 2010

Chilwell Reserve Access for M2 Widening

The M2 Widening Project intends to build a construction site underneath the flyovers in Chilwell Recreation Reserve. They are proposing to get access to it by building an access path down from the end of Allerton Road, with a forecast of something over ten trucks a day through the two year construction period!
I often use Chilwell Reserve to walk my dog, and I hate the thought of this. I also hate the idea of all those heavy trucks lumbering down Murray Farm Road and into Allerton.
I was therefore pleased to see the Beecroft Cheltenham Civic Trust submission on the proposed M2 widening, in which they advocate that the project should use the existing access way on the north side of the carriageway, built for the original M2 build, instead of Allerton Road. This photo shows the end of this access path, between the M2 and the golf course, which would allow trucks to access the construction site direct from Pennant Hills Road.


I would love to know the Project's intentions for permitting continued use of Chilwell Reserve through the construction period. I presume a protected passageway will be maintained to permit public passage under the viaducts. But so far I haven't found any specifics on this. If any of my readers can clarify this, please email me or call in at Ray White Beecroft.

Monday, July 5, 2010

House Price Forecast

The General Manager of APM, Anthony Ishac, reported a fall in auction value last weekend to $120M from $213M the previous weekend - although this is still well up on last year when auctions raised just $98M. Mr Ishac expects prices to continue to rise, but in single digits, "not as manic as we have seen in the last 12 months".

Renovation Fast-track

NSW State Government is proposing to introduce fast-track approval for people wanting to convert attics and basements into extra rooms. Instead of going through the normal council DA process, a 10-day approval process will be put in place.