What Impact Is The Coronavirus Having On The Housing Market?

Back at the end of January, Louis Christopher from SQM Research shared in-depth Australian Real Estate Market Predictions for 2020 when he caught up with Real Estate Coach, Tom Panos and during this report Louis Christopher mentioned that COVID-19 could impact the market but at the time he was referring to it more from the viewpoint of what impact it was having on the Chinese economy, not so much from a global pandemic perspective nor with the hindsight of what impact the Coronavirus was going to have on the Australian economy.

This was the first time that I had heard any of the real estate forecasters mention Coronavirus. Louis Christopher’s previous forecast included 4 different scenarios within his 2020 Boom & Bust Report Forecasts.

Unfortunately, there wasn’t a 5th scenario factored into that 2020 Boom & Bust Report. The real impact that the Coronavirus was going to have on the global economy was impossible to predict. To see the previous report, click here

Markets are fluid and one of the quotes that I heard about how to adapt during this pandemic is…

You can’t stop the waves but you can learn how to surf.

As Tom Panos said towards the end of their previous interview… “A lot of things can happen in 12 weeks, who knows we may have been sprung a surprise - something has happened or some sort of crash that no-one expected”.

So now with COVID-19 LockDowns in effect and the Federal Government providing Financial Relief packages almost daily plus with 2 drops in interest rates by the Reserve Bank along with a significant drop in both the Stock Market and the Australian Dollar since the Australian Real Estate Market Predictions 2020 was originally recorded, I feel that tonight’s interview between Tom Panos and Louis Christopher is a must watch for anyone wanting to gain a greater insight into… What Impact Is The Coronavirus Having On The Housing Market?

Louis Christopher from SQM Research is one of Australia's most recognised and respected property analysts, and also one of the most conservative and accurate analysts that Tom Panos knows. 

In this video interview Tom & Louis talk about the much-anticipated topic: How the Australian real estate market will be affected by the COVID-19 pandemic. What are the short term and long term impacts?   

11:44 – Is it a buyer’s market or a seller’s market right now?  

12:34 – What type of clearance rates are we seeing with digital auctions?   

18:40 – The two possible scenarios following COVID-19. Should we be hopeful? Or could we be entering into a depression?  

19:50 – When we can expect lockdown restrictions to be lifted?  

23:13 – Has Australia done a good job responding to the COVID-19 pandemic?  

25:05 – What’s the difference between a recession and a depression? Where does this fit in?  

30:36 – What is the situation with rentals right now?  

36:19 – What type of agents will survive this period of uncertainty? Will there be casualties?   

39:44 – What changes can we expect in the global supply network? 

44:35 – What are the opportunities, and why we should be optimistic.  

47:30 – What is the outlook post-Coronavirus? 

So What’s Happening In The Acreage Market?

Back on the 25th January when I shared the Australian Real Estate Market Predictions for 2020 here, I reported that there were…

“360 acreage properties for sale across all suburbs within the Hawkesbury, Hills and North-West Sydney region that I outline within The Acreage Report and in this past week there have been 3 acreages Sold, 13 are Under Offer and there were 11 New Listings, which shows that the number of sales will need to increase significantly to reduce the amount of available supply before we’ll start to see prices increasing as much as they have been in the Sydney housing market.”

When you compare the above figures from January against those that I shared in yesterday’s Acreage Market Wrap - 4th April 2020 below, it’s clear that the oversupply of acreage stock has been increasing.

Currently there a total of 426 acreage properties For Sale across the entire region. This overall total includes 231 acreage properties For Sale throughout all of The Hawkesbury, 133 in The Hills and another 62 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.

This week, there’s been an additional 21 new acreage listings come onto the market but again there were only 3 acreage properties Sold this week plus there’s been a slight decrease to the number of acreages that are ‘Under Contract’, but, even so it's good to see that there are still 14 acreage properties currently ‘Under Contract’ across the region.

In March, there were a total of 86 new acreage listings come onto the market and 25 acreage properties were sold. The Hawkesbury had 12 sold, The Hills had 8 sold and 5 sales occurred in the Penrith & Blacktown Acreage suburbs we cover.

The current oversupply of acreage stock looks set to increase even further over the coming weeks or at least up until we go into a COVID-19 LockDown Stage #4 (if we do), which may slow down the number of New Listings being uploaded onto Realestate.com.au.

However, there’s likely to be an increase in the number of acreage properties listed ‘Off-Market’ during the LockDown period. Which is where ‘Off-Market Acres’ will be able to provide an excellent solution for acreage owners.

If you’d like to find out more about How’s The Acreage Market? or What Buying Or Selling ‘Off-Market’ Actually Means, don’t hesitate to get in contact with me or alternatively you can register here

I hope you find this information helpful

Regards

Greg Vincent

Acreage Market Wrap - 4th April 2020

Hi, my name is Greg Vincent and welcome to this week’s Acreage Market Wrap where I share an insight into How’s The Acreage Market?

This week I launched a brand system which I believe will become The NEW WAY to buy & sell acres, it will be especially effective during this Coronavirus period and I’ll share more about this new innovation shortly...

But first, there were a lot of changes announced during this past week which caused a few concerns for property investors, many of whom were looking to move their money across to property on the back of the low interest rates and the falling stock market.

There was some confusion for Landlords around the Rent Relief package released by the Federal Government this week and whilst some tenants thought that because they couldn’t be evicted for 6 months that they no longer had to pay their rent, but that’s certainly not the case.

Prime Minister Scott Morrison said that Tenants have to pay their rent unless they can demonstrate a reason not to. The lease is a contract and the obligations within that contract need to be fulfilled.

The plight of the landlord was completely overlooked in the early stages of the Government's announcement but via some good work done by the REINSW and other industry stakeholders, the difficulties for landlords has been highlighted and more should be announced to resolve this issue early next week.

In the meantime, if you're a Landlord then your Tenants should be referred to the relevant Government websites to see what initiatives and assistance the Government is providing to help them through this pandemic.

Landlords need to be careful not to panic too quickly.

In an article in today’s Australian Financial Review titled 'The Landlords Guide To Surviving The Pandemic' by Nila Sweeney, the Property Investment Council of Australia Chairman. Ben Kingsley said

Landlords should hold off reducing or foregoing any rent until the government releases more details on rental relief. We’re telling any Landlord who decides to reduce rent is potentially impacting their claim if rent is unpaid in the first instance. And also potentially putting at risk how much they will receive if there is a tenancy relief package announced by the Federal Government in the coming days or weeks or months.

In the article, they suggest that while Landlords wait for further guidance from the Government it is a good idea to do a budget to see how much it will cost you to hold the property with reduced or no rent over 6 months.

And also Cathy Bakos, the President of the Real Estate Buyers Agents Association says…

Investors need to realise the moratorium does not allow tenants to walk away from their obligations.

This is something that so far hasn’t been explained properly by Prime Minister, Scott Morrison and I expect that there will be more clarification on this from the Government in the coming days.

As you can see, it’s really important that you get the facts right before you start making any impulsive decisions.

Also, in other news, apparently there’s been a change to the Material Facts regulations regarding agent disclosure and an agent must now declare if an occupant of a property has tested positive for COVID-19. This is very new legislation and we’ll hear more about how this works in the coming weeks.

Additionally, with a lot of properties having been sold recently and many that are still due to settle some may experience unexpected complications. If it’s an owner occupier leaving then that’s okay, however, if it’s a tenant vacating then with these new laws regarding tenant protection against evictions there may be some potential issues which could now arise which could leave owners without a sale and leave owners liable to be sued if they can’t give vacant possession. However, apparently new laws are being drafted to fix this situation very quickly.

The speed at which everything is moving there are so many unintended consequences when the government makes broad brush decisions and the REINSW and the Law Society have been actively involved in liaising with the State Government to find suitable solutions.

So as you can see, there’s a lot going on behind-the-scenes that we are all having to adapt to very quickly.

Speaking of adapting to change, This pandemic is a life-changing time for so many where we really need to be Strategic, Pragmatic & Innovative.

We need to ‘Re-Imagine & Re-Emerge'.

...Here at McGrath we have Re-Imagined and anticipated what some of the changes will be within our real estate business ahead of if or when we do go into a COVID-19 Stage #4 LockDown. We have pivoted and implemented extremely quickly and are now embracing Online Auctions, Private Inspections By Appointment and Digital Inspections.

Here’s an article which goes into more detail about what we're doing here at McGrath to Re-Imagine and Re-Emerge.

Plus, on top of all that, I'm excited to announce that this week I officially launched a brand new innovative strategy called ‘Off-Market Acres’ where Secret Places Are Revealed as well launching a brand new 'Off-Market Acres' Facebook Page and with registrations climbing daily, both the website and the Facebook page have already been well received.

'Off-Market Acres' is a brand new system that may end up becoming The NEW WAY To Buy Or Sell Acres. (especially for anyone looking to sell their acreage property during the COVID-19 LockDown period). If you want to find out more about’Off-Market Acres’ and how it all works, visit... www.offmarketacres.com.au

Okay, So How’s The Acreage Market?

The increased number of new acreage listings coming onto the market versus the reduction in the number of acreage sales occurring is continuing to fuel the current oversupply of acreage properties that are now on the market.

Currently there a total of 426 acreage properties For Sale across the entire region. This overall total includes 231 acreage properties For Sale throughout all of The Hawkesbury, 133 in The Hills and another 62 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.

This week, there’s been an additional 21 new acreage listings come onto the market but again there were only 3 acreage properties Sold this week plus there’s been a slight decrease to the number of acreages that are ‘Under Contract’, but, even so it's good to see that there are still 14 acreage properties currently ‘Under Contract’ across the region.

In March, there were a total of 86 new acreage listings come onto the market and 25 acreage properties were sold. The Hawkesbury had 12 sold, The Hills had 8 sold and 5 sales occurred in the Penrith & Blacktown Acreage suburbs we cover.

Out in the field, this week, we officially launched a spectacular couple of ‘Off-Market Acres’ at 26 Wavehill Avenue, Windsor Downs and 14 Lamrock Avenue, Glossodia. These are both incredible properties and here’s some information about these stunning homes below….

Also, I have another acreage property which should become available via 'Off-Market Acres’ later this week. If you’re looking for an excellent land bank acres investment or an acreage property with a comfortable home, a large workshop and good paddocks to suit horses for under $1.5m then keep an eye out for the email notifications that will be sent out about this one. You can register to receive the email updates at... www.offmarketacres.com.au

Once you register to be notified about any of the 'Off-Market' properties you’ll also receive instant access to The Acreage Report 2020 (Autumn edition) which features an insight into ‘The Future For Acreage This Decade' and outlines the Two Biggest Factors Set To Impact Acreage over the next decade and at the same time you'll be amongst the first to know about any of the 'Off-Market' acreages that I have coming up.

The Acreage Report also includes statistics about exactly what's happening within the Hawkesbury, Hills & Sydney’s North West acreage market.

Plus, you’ll also get instant access to The McGrath Report 2020 which features some great insights from property expert, John McGrath.

Now finally, if you’re thinking of selling your acreage property, I am currently working with a number of buyers who are still very keen to settle on an acreage property during this current market.

For example: One family are looking for an acreage property with dual accommodation for around the $1.5m price range and another qualified buyer who is looking for a larger acreage parcel with river frontage along the Hawkesbury River for around $2.3m and they would prefer either vacant land or something with an older house on it so that they can build a large home, but even if there's a larger home on the property it may also suit.

if you feel that your property maybe suitable and you’re considering making a move, get in touch here

So there you have it, that’s it for another week’s Acreage Market Wrap.

If you’ve got any questions about anything I’ve shared this week or would like to discuss any of your acreage plans with me, don’t hesitate to get in touch.

Thanks for watching, stay safe and bye for now.

Regards

Greg Vincent

www.OffMarketAcres.com.au - The NEW WAY To Buy Or Sell Acres Launches

Over the past couple of weeks I have been developing The NEW WAY To Buy Or Sell Acres and this new system is called ‘Off-Market Acres’ - Where Secret Places Are Revealed
…and I had the pleasure this evening to launch the www.OffMarketAcres.com.au website was via the brand new ‘Off-Market Acres’ Facebook Page.

The ‘Off-Market Acres’ system has already started gaining traction, with numerous subscribers registering during the Pre-Launch phase over these past few days, PLUS there are already a number of ‘Off-Market’ Acreage properties which are about to be promoted out to our registered acreage buyers.

If you’d like to Register for FREE, visit www.OffMarketAcres.com.au now to Gain Early Access.

If you’re curious but don’t quite know what all the fuss is about ‘Off-Market’ properties is all about, then here’s an article I shared last week which may help you to understand a bit more about the concept…

What Does Buying Or Selling A Property ‘Off-Market Actually Mean?

Also, it’s important to note that promoting an acreage property ‘Off-Market’ should be seen as Plan ‘A’ of the marketing strategy and if your property needs to be promoted via Plan ‘B’ (using the traditional marketing methods to find the right buyer) then adopting that approach is an option that is available at any stage of the campaign, but it may not be required.

It’s important to look at the best approach as well as investigate NEW WAYS to do things differently with minimal outlay as well as adopt proven ways to tackle the shifting landscape of today’s rapidly changing world, especially during the Coronavirus pandemic crisis, and the ‘Off-Market Acres’ system isn’t simply part of a future plan, it’s already available to implement right now.

THE FUTURE FOR REAL ESTATE

In a very timely post by Lee Woodward, CEO of The Real Estate Academy, he said earlier today that real estate agents need to Accept & Adapt if they’re going to not only survive but thrive over these coming months.

If you’ve got any questions about ‘Off-Market Acres’ and how it could potentially work for you, don’t hesitate to get in contact with me.

Regards

Greg Vincent

Old Fashioned One-On-One Buyer Appointments Are An Effective Way To Sell Acreage

There are going to be a number of changes to the way that you will be able to sell your acreage property during the COVID-19 crisis, and we’ve already started implementing The NEW WAY To Buy or Sell Acres, especially since Scott Morrison announced that Open Homes and On-Site/In-Room Auctions were Banned.

As John McGrath said in a recent article…

The pivot to private appointments due to Coronavirus reminds me of my early days in the 1980s as a sales agent in Sydney’s Eastern Suburbs.  There were no opens or auctions.  In those days agents took buyers in their car to look at properties.  They had a price on them, they’d negotiate and put a deal together. 

Good old fashioned one-on-one buyer appointments are a very effective way of selling property, so I don’t expect this requirement under new social distancing rules to make it harder for agents to sell real estate. In fact, it will give us a chance to provide a much more personalised service to buyers. 

The most important part of selling a home during the Coronavirus crisis will be the extra level of trust the agent can build with the buyer and how closely they work with the buyers to build rapport and help negotiate the sale from start to end.

During my 30+ years in the industry, I’ve found that private inspections help to facilitate the trust building process because it allows me more time to spend one-on-one with each buyer, which enables me to gain a greater understanding of the buyers needs and wants.

There are also several other ways that we are adapting to the changes in operating in the real estate industry during COVID-19.

Online Auctions, Video Conferencing, Digital Inspections and ‘Off-Market’ strategies are amongst just a few of the recent changes we are making to look after our acreage clients throughout these rapidly changing market conditions.

It will be interesting to see how the acreage market reacts throughout the pandemic, especially after the numerous Government incentives being offered in today’s New Wage Subsidy announcement by Prime Minister, Scott Morrison and Treasurer, Josh Friedenberg.

In John McGrath’s article he also went on to report that…

In a special report on Coronavirus released March 17, CoreLogic said if stimulus could adequately support business and household income, then dwelling values might not necessarily be impacted. 

Macroeconomic shifts tend to immediately effect share prices but there’s a lag with property, so a lot depends on how long Coronavirus lasts. 

In the past, housing has performed pretty well up against significant shocks. On ‘Black Monday’ in 1987, the Australian share market lost approximately 23% of its value in a single day but housing values were largely unaffected. In the 1990s recession, property values declined only -4.4%.  

This will pass, just like SARS and other viruses have done before. It’s scarier this time due to the scale and comparatively rapid spread but there will be an end point. I can’t stress enough not to make any rash decisions. Always keep in mind property investment should be a long term proposition.

To read the full article from John McGrath visit, How real estate operates through COVID-19 

We are still busy with enquiries for acreage and are arranging private inspections with qualified buyers.

If you’re thinking of selling your acreage property, chances are that we already be working with the right buyer for your place. If you’d like to discuss how selling your property with $ZERO Marketing Costs via our BRAND NEW marketing platform ‘Off-Market Acres’ works, don’t hesitate to get in contact.

I hope you find this helpful.

Regards

Greg Vincent

Pre-Launch Announcement: BRAND NEW ‘Off-Market’ Acres Website

COMING SOON FOR ACREAGE BUYERS & SELLERS! : : Pre-Launch Announcement : :

As Promised, Here It Is!

There's About To Be A 'BRAND NEW WAY' To Buy Or Sell Your Acreage!!!

...Get In Early And Register Now During The Pre-Launch To Gain An Early-Mover Advantage + Get VIP Access To Exclusive 'Off-Market' Acreage Properties Here!!

Visit, www.OffMarketAcres.com.au

Regards

Greg Vincent

Acreage Market Wrap - 28th March 2020

Hi, my name is Greg Vincent and welcome to this week’s Acreage Market Wrap where I share an insight into How’s The Acreage Market?

This week there’s been so many changes happening that it’s been hard to predict what the latest Breaking News announcement was going to be from either the State Government or the Federal Government and what real impact they were going to have on our lives and our livelihoods.

Seeing the images of so many Australians lining up at Centrelink was absolutely horrible and the consequences of this Coronavirus crisis on our society and our economy are hard to predict.

One thing's for sure ...there will be an economic recovery, but, it’s hard to know how quickly that will happen because no one knows how long it will be before we see the end to this global crisis.

During this current period of uncertainty the main thing that we can do is to be there for each other as a broader community and do what we can to stay healthy (both physically and mentally), as well as doing our bit to help stop the spread.

Our medical personnel and care workers are stretched to capacity and they are already exhausted, yet sadly we still haven’t seen the worst impacts of this virus in Australia as yet.

Please do whatever it takes to help these people by stopping the spread.

I’d like to share my enormous thanks to everyone working in the essential services sector who are going to be working tirelessly throughout this whole pandemic whilst the rest of the community stay at home, plus, I’d like to pay deep respect to all of those people who have lost their jobs during this Coronavirus pandemic through absolutely no fault of their own.

This period of time is going to be extremely difficult on a lot of people and it’s so important as a community that we do whatever we can to help lift the spirits and provide hope to those who currently feel lost or without hope.

During the inevitable LockDown period that we are all facing, there are some things that we can do to be prepared and on my website I’ve shared 5 Quick Tips To Help You Prepare Ahead Of COVID-19 LockDown (Stage #4) .

I suggest you take a few minutes to check it out today or over the weekend if possible before we potentially go into the next phase of LockDown this coming week. I hope you find it helpful.

One thing to think of, is that, during the LockDown period a lot of people are going to have a lot of spare time on their hands and this may be a great opportunity to start that online business, or fix those things that you’ve been meaning to get to around the house, enjoy re-connecting with your loved ones or look at innovating, strategising and discovering new ways to do things.

…and that’s exactly what I’ve already started doing within our real estate business...

You see, since the Australian PM, Scott Morrison made the announcement that Auctions and Open Homes were banned from midnight on Tuesday, I’ve already started developing a whole new marketing strategy for acreage properties which I believe will become The NEW WAY to Buy and Sell Acres.

It provides a solution for my clients during the LockDown period and it’s a leading-edge approach which could actually turn out to become ‘The Way Of The Future For The Acreage Market’.

Also, this week I’ve noticed I growing trend from real estate agents and real estate trainers talking about selling properties’Off-Market’ and on my website I’ve shared an insight into ‘What Does Buying Or Selling A Property ‘Off-Market’ Actually Mean?

Plus, here’s a link to an announcement I made earlier in the week that Realestate.com.au were releasing a brand new feature called ‘Digital Inspections’ which allows for a new style of video walkthrough to be uploaded onto their site.

So as you can see things are changing very rapidly within the real estate industry as we innovate and try to find the best way to serve our customers during these uncertain times because even though we may not end up being seen as an essential service during the next LockDown phase, people still need to have somewhere to live and there are still a lot of property transactions going on here at McGrath and across the country, especially within the residential market.

Which leads me to…

How’s The Acreage Market?

The number of acreages being sold remained at the same low level as last week and we saw a dramatic increase in volume of new listings coming onto the market which has added to the current oversupply of acreage properties on the market.

Currently there a total of 414 acreage properties For Sale across the entire region. This overall total includes 228 acreage properties For Sale throughout all of The Hawkesbury, 126 in The Hills and another 60 acreages For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.

This week, there’s been another 22 new acreage listings come onto the market but once again only 3 acreage properties were Sold this week plus there’s been an decrease in the number of acreages that are ‘Under Contract’ which is expected in light of the uncertainty within the market, but, that being the case it's good to see that there are still 15 acreage properties currently ‘Under Contract’ across the region.

As we're nearing the end of March, there's been 77 new acreage listings and I anticipate that figure should reach over 80 new listings for March by the end of the month and so far 22 properties have been sold this month. The Hawkesbury has had 11 sold, The Hills had 8 sold and 3 sales occurred in the Penrith & Blacktown Acreage suburbs that we cover.

Out in the field, this week, we launched a stunning home at 35 Grand Flaneur Avenue in Richmond which has been beautiful renovated by FANDR Constructions and is a great home for anyone thinking of downsizing from acres who wants a quality 3 bedroom home with a studio, privately landscaped yard and high-end finishes.

Also, we launched a superb 25 acre parcel which overlooks The Hawkesbury River at 209 Greens Road, Lower Portland which is an ideal place to establish your dream acreage lifestyle. Both of these 2 properties are amazing. Make sure you check them out. I'll put a link to them underneath this video.

Also, I have a couple of acreage properties which are going to be photographed over the next few days which I will be promoting 'Off-Market' to my acreage database so keep an eye out for them in your inbox.

Speaking of your inbox, if you would like to be notified about any of the 'Off-Market' properties you can register to receive the latest edition of The Acreage Report 2020 (Autumn edition) which features an insight into ‘The Future For Acreage This Decade' and outlines the Two Biggest Factors Set To Impact Acreage over the next 10 years and at the same time you'll be amongst the first to know about the 'Off-Market' acreages I have coming up.

The Acreage Report also includes statistics about exactly what's happening within the Hawkesbury, Hills & Sydney’s North West acreage market.

Plus when you grab your copy, you’ll also get instant access to The McGrath Report 2020 which features some great insights from property expert, John McGrath.

The report is FREE, you can access a copy right now at www.TheAcreageReport.com.au

So there you have it, that’s it for another week’s Acreage Market Wrap.

If you’ve got any questions about anything I’ve shared this week or would like to discuss any of your acreage plans with me, don’t hesitate to get in touch.

Thanks for watching, stay safe, stay healthy and bye for now.

Regards

Greg Vincent

5 Quick Tips To Help You Prepare Ahead Of COVID-19 LockDown (Stage #4)

In these uncertain times it’s better to be prepared than be caught by surprise. New Zealand are currently under COVID-19 LockDown (Stage #4) and it’s not definite, but it’s highly likely that Australia or some states of Australia will follow similar LockDown measures shortly to tackle the Coronavirus crisis.

Yesterday, I tuned into a couple of live conference calls with a group of people from New Zealand who recently had Stage #4 LockDown imposed, which means that they are all now working from home and they anticipate being Locked Down in their homes for the next month or two.

One of the contributors said that a lot of Kiwis were ready for Stage #2 level LockDown, but, many were caught by surprise by the sudden upgrade to Stage #4 LockDown.

So I thought I’d share 5 Quick Tips that might help you prepare for what could be ahead.

1. The most important thing is to look after your health first and foremost along with adhering to the rules imposed to protect yourself as well as others.
   Remember, the safety demonstration in an aeroplane says “if the oxygen mask falls from the ceiling make sure to apply your mask first before you help others.” If you don’t look after yourself, you can’t look after others.

2. If you’re working from home make sure you set up your home office with everything you need. Download files you may need from your work computer. Get a scanner if you haven’t already got one (apparently scanners sold out very quickly in NZ). Buy office supplies, ink cartridges for your printer, batteries if any of your equipment uses them, envelopes, printer paper, letterhead and buy some stamps from the post office because apparently the postie still delivers, but the post offices are closed. Also, set up a closing down your office protocol or checklist so that you’re not in a panic when you have to close your business or workshop, because my understanding is that you can’t go back to your place of business to get or fix anything during Stage #4 Lockdown. eg. things like emptying the fridge/freezer just in case there’s a loss of power, diverting the phones to the best person to handle the incoming calls, etc.

3. Buy your hardware supplies now if you’re thinking about doing any of those repair jobs you always wanted to do around the home. You’re going to find yourself with a lot of spare time during Lockdown and it’s better to get what you need now to do those odd jobs, because you won’t be able to buy them if we go into LockDown Stage #4.
   Also, if you’re preparing your home for sale it may be worth doing a quick FaceTime call with a stylist like Jeanine from The Styling House to get a few tips about colour selection and staging your property for when you’re considering putting it on the market.
   After we get through Lockdown I anticipate that there will be a lag period for getting supplies because businesses will take a bit of time to get back to normal operating levels, and if you get your property ready during the LockDown, you’ll be able to get a first mover advantage on other properties that are going to come onto the market.
   I would also get in contact with your Conveyancer or Solicitor and request that they prepare your Contract Of Sale prior to Lockdown because the required certificates from the local councils will take longer than normal to be issued, plus Swimming Pool Inspections may be delayed.

4. Buy board games, puzzles and craft supplies, etc to help keep your family entertained and provide a bit of fun & sanity during the Lockdown period. Apparently, there was a rush for these items at the shops when Lockdown Stage #4 was announced and there were none left on the shelves.
   Also, a new Facebook Group has been set up called Parents In Quarantine which you may want to join to get some ideas about what other parents are doing to entertain their kids during LockDown.

5. Take this opportunity to improve yourself. The next few weeks or months (however long the Lockdown takes) is an ideal time to get into a personal routine and improve your habits. Apparently, in Stage #4 Lockdown you can still go for a walk (on your own). This is a good opportunity to tune into some podcasts are listen to audiobooks via Audible
   A couple of the best podcasts I have listened to recently regarding getting through the Coronavirus crisis are from Brendon Burchard. Here’s a link to Part 1 and Part 2.
   A couple of good Audiobooks around setting new habits are High Performance Habits and Atomic Habits.

   Happy to hear of any other suggestions or ideas others may have in the comments below.

   So, What am I doing in my real estate business to be prepared for my clients ahead of COVID-19 LockDown (Stage #4)?

   Earlier this week, Australian Prime Minister, Scott Morrison announced that real estate agents are banned from conducting public Auctions or Open Homes as of midnight Tuesday evening.

   Many real estate agents were outraged by this announcement, but, the fact is that our industry is extremely lucky because it wasn’t shut down (from operating at this stage) like lots of other industries have been eg. beauty therapists, events, etc.

   However, I anticipate that very soon we will be instructed that no physical inspections of properties will be able to occur, which is why I have already started looking into innovative ways to still do Business As Unusual during the next phase of LockDown.

   One thing that I am doing with my clients right now to be prepared for Lockdown Stage #4 (which I believe is imminent) is arranging Pre-Purchase Pest & Building Inspections via a company called BuyBeforeYouBid. The inspections cost the owner $49* initially and the reports are able to be purchased by potential buyers for only $49*. For more information about these reports visit BuyBeforeYouBid.

   Another thing that I’ve been doing for each of my clients is recording a video walkthrough of the properties so that anyone enquiring whilst we are in Lockdown will be able to do a Digital Inspection of the property.

   Also, I have a number of properties that are about to go up For Sale ‘Off-Market’ and I am in the process of setting up a Brand New Way To Buy And Sell Acreage which will work very effectively throughout the COVID-19 LockDown period and it’s likely to become…

   The NEW WAY To Buy And Sell Acreage In The Future

   These are very uncertain times, but there’s also an opportunity during times like these to take more of a helicopter view of what’s ahead and anticipate where these changes to our lives will lead us into the future, beyond the Coronavirus crisis.

   I hope you find this information helpful.

   Please stay safe.

   Regards

   Greg Vincent

   PS: If you’re thinking of selling your acreage property (or you’ve been trying to sell) but you or your agent have decided to put it all on hold for the moment, I may actually have the way forward for you and if you’d like to find out more about The NEW WAY that I have developed, don’t hesitate to get in contact with me.

What Does Buying Or Selling A Property 'Off-Market' Actually Mean?

Have you ever heard about a property being sold ‘Off-Market’ and wondered  what on earth does that actually mean?

There are a number of different ways that real estate agents approach the sale of a property ‘Off-Market’ and it’s important to gain a clearer understanding about how it actually works, because, after having to adapt property marketing strategies very quickly to deal with the recent impacts of the Coronavirus crisis, it now looks highly likely that listing your property ‘Off-Market’ will quickly become a more mainstream method of buying and selling property.

One of the main reasons why the Off-Market method of marketing is becoming more and more popular nowadays is due to technology advancements and the increased use of Social Media to promote property.

This week’s announcement by Australian Prime Minister, Scott Morrison which saw Auctions and Open Homes banned, will also have an impact on what marketing approach real estate agents will now be recommending to their clients, especially as we move closer and closer to the inevitable enforcement of stricter Lock Downs restrictions being imposed.

In addition, the real estate websites like realestate.com.au and domain.com.au have become extremely expensive (continually increasing their prices), and as such, real estate agents and property owners are now looking for alternative ‘low cost – high yield’ marketing strategies.

The savvy, more ‘in-tune’ real estate agents have lots of buyers that they are currently already working very closely with who are more than willing to purchase a property before it gets advertised …and from my personal experience I’ve found that these buyers typically pay fair market value and in many cases they would prefer to pay ‘a premium price’ to secure the right home that suits their family’s needs rather than take their chances of the property being advertised out to the broader market, where they could end up missing out on securing the home.

What’s One Of The Main Benefits Of Selling A Property ‘Off-Market’?

There are a number of benefits to selling ‘Off-Market’ and the first one relates to minimising the costs related to selling.

With an ‘Off-Market’ sale the owners don’t have to invest $thousands in up-front advertising costs or enter into delayed payment schemes, which can really make sense and be a large saving, especially, if the property ends up selling to a buyer the real estate agent already had on their books.

However, that’s not to say that an investment in a Marketing Campaign no longer has an important role to play in the sale at all. Far from it, but there can now be a 2 Step Approach to marketing your home for sale.

You see, the ‘Off-Market’ sale option is typically adopted for an initial period of time which allows for the agent to source interest parties via their existing database of buyers, plus, savvy agents will promote the Off-Market listing via a targeted Social Media campaign.  

During the initial Off-Market period you rely on the contacts, market reach  and market knowledge of the real estate agent to generate interest and encourage buyers to view your home.

What Is An Off-Market Property?

To put it simply, Off-Market properties aren’t yet advertised on the open market. Typically, when a vendor confirms a listing with an agent, it can take approximately up to seven days to compile all the marketing tools, such as signboards, professional photos, and the necessary information to load into the property portals. While the property is for sale, until everyone knows about it, it’s technically ‘off-market’.

An off market property is for sale, but it is not being marketed or advertised via the traditional channels.

Typically real estate agents use a variety of ways to market your property, including online listings on sites such as Domain.com.au and realestate.com.au, newspapers and magazines (not so much nowadays), or produce and distribute brochures, flyers and a signboard for outside your property.

On the other hand, an Off-Market approach to selling a property, often referred to as a ‘Plan A Marketing Option’ doesn’t have any of these campaigns running, however, launching a full marketing campaign could always be adopted right from the start or it could be a ‘Plan B Marketing Option’ which could be swiftly activated if the initial ‘Off-Market’ approach was unsuccessful.

During the Off-Market (Plan A Option), the agent would contact their existing buyers directly. They will source potential buyers from their database, use Social Media marketing or from people who have expressed an interest in buying property in their area.

Agents build their database from enquiries about other properties which have been listed and by collecting names at open houses and good agents keep in regular contact with these potential buyers.

"Properties are also classed as Off-Market in the few weeks before they are listed on any of the major real estate portals and they are sometimes referred to as Pre-Portal Listings.”

During this period the property can be emailed out to the agent’s database, SMS’d to potential buyers, promoted via Social Media, listed on off-market property portals or on the agent's website.

Whilst the property isn’t marketed via the traditional channels, it’s important to highlight that during this period, the property is actually for sale.

Would you consider selling ‘Off-Market’ if the price and terms were suitable?

If you live in a street or suburb where there’s been a high-priced sale recently, or there’s been extremely high interest from buyers, agents may reach out to you directly and offer you the option of an ‘Off-Market’ sale.

In this scenario the agent may already have ‘hot’, qualified buyers on their books who could have missed out on a recent sale, and are desperate to buy in your area. You could capitalise on this interest and seal a deal without even advertising your property for sale.

How do ‘Off-Market’ sales work?

If you are interested in selling your property ‘Off-Market’, you'll still need to choose the best real estate agent for the job.

In terms of your relationship with a real estate agent and the paperwork involved for an off market sale, the process is exactly the same as any other sale.

You still need to sign an agency agreement to appoint the agent for an ‘Off-Market’ sale. The agent still needs to comply with Fair Trading regulations which require an agent to have a valid authority to represent you or they could be fined.

In addition, if the property is less than 2.5 hectares a current Contract of Sale (usually prepared by a Solicitor or Conveyancer) must be prepared and made available or otherwise both the agent and the vendor can be heavily fined and/or penalised by Fair Trading. So it’s imperative that you discuss these items with your agent and/or Solicitor/Conveyancer.

So, What’s It Really Like?

During the ‘Off-Market’ phase your agent will let everyone who views your property know that it is an ‘Off-Market Sale’, so most people are unlikely to expect your home to be pristinely presented or staged by a styling company.

If someone is interested in your property, they will make an offer and the sales process will proceed as per normal. If a buyer is serious, it's recommended that you get them to make the offer in writing, and then sign an agreement as well as pay a deposit.

I have now sold several properties ‘Off-Market’, and every time both the owners and the new purchasers have enjoyed the experience.

Firstly, the owners were extremely relieved because they didn’t have to prepare their home for Open For Inspections week after week.

Secondly, they were really happy that they saved money on not having to advertise …and most importantly each of them achieved excellent outcomes.

In addition, all of the purchasers really appreciated the personalised service, the opportunity to buy with a minimum of fuss …and they were all able to move forward with a greater level of understanding and appreciation between both parties, which helped to make the whole process a Win-Win.

What Should I Do Next?

If you’d like some more information about the Next Steps and How an ‘Off-Market’ Sale Could be Highly Beneficial to You When Selling Your Acreage Property, (especially within this current climate), then don’t hesitate to get in touch with me here for an obligation-free chat about tailoring a personalised solution that works best for you.

I hope you found this information helpful.

Regards

Greg Vincent

The NEW WAY To Buy And Sell Acreage

If you're looking to Buy or Sell Acres during the Coronavirus crisis we are adapting to the changing landscape really fast.

I have already invested the necessary resources into developing 'THE NEW WAY To Buy or Sell Acres' to comply with the new guidelines announced by the PM last night as well as paving 'The Way Forward' in anticipation of future Lock Down restrictions.

:: :: Watch This Space! :: ::

This Is A Brand New Innovative Approach Specifically Developed For The Acreage Market.

It's Strictly Limited And Is Only Available To My Acreage Clients Exclusively.

Don't hesitate to get in contact with me if you need any help with buying or selling during this period or if you have any questions about 'THE NEW WAY To Buy or Sell Acres'

Regards

Greg Vincent

Realestate.com.au About To Release BRAND NEW Digital Inspections Feature

In a few days, realestate.com.au will be launching a BRAND NEW Digital Inspections feature to allow video walkthrough tours to be uploaded to properties displayed on their site.

This newly developed feature is separate to property videos or virtual tours.

The digital inspections feature is designed to allow agents to simply record a video of the home from their smart phone or tablet whilst walking through and around a property so that potential buyers can see the raw footage of some of the other features that may not be shown in the professional photos or existing property video.

This is an excellent idea for both buyers and sellers, especially during the current Coronavirus pandemic and it will help provide extra detail along with more transparent information about a property online so that buyers can make more educated decisions about a property and should help to pre-qualify and determine whether the buyer wanting to schedule an inspection is serious about purchasing the home or not.

During this next phase of the Covid-19 crisis I anticipate that we are going to find that there will be more online views and more enquiry from potential acreage buyers due to the fact that people will have more free-time to look at property online.

Visitor traffic to realestate.com.au will follow a similar online trend to what typically happens each year during the Xmas holiday period.

However, due to the pending Lock Down laws, so many people Working from home and the Social Distancing, the number of physical buyer inspections look likely to reduce.

But, now with the New Digital inspections feature, more information about the home will be available (if your agent uses it), and you’ll find that the actual need for the physical inspection from the buyer may actually be reduced and we may see a lot more transactions occur without the buyer inspecting the property at all.

The physical inspection of a property is what I actually call the ‘Validation Inspection’.

The Validation Inspection is where the buyer validates that the home is actually like what they expected when they saw it online and they want to check to see if there’s anything that they should be aware of that wasn’t displayed.

They also want to get the feeling and sense of proportion of the home along with the essence of what it would be like to actually live there.

By providing raw walkthrough videos, some of that validation inspection could actually be done online and the need for the physical inspection may be reduced

You see currently many owners say to their real estate agent, ‘there hasn’t been anyone coming through”, but, in reality there really has been, but, they haven’t been through physically.

The buyers first inspection of a property is actually the online inspection and then if they see features about the home that they feel may suit them and their family, they will then arrange to come out and do the physical (validation) inspection.

Here’s an insight into what realestate.com.au are about to release in an effort to assist agents, property owners and property seekers throughout the Coronavirus pandemic and beyond.

During a time where social distancing is being practiced to help flatten the COVID-19 curve, open for inspections may be unsettling for some. To help overcome this, on Thursday we will be launching a new free Digital Inspections feature, so you can showcase your listings to those who may prefer not to inspect in person. This will help buyers and renters discover the features of a property they’d normally see when attending an open for inspection, ahead of making a face-to-face appointment.

Source: realestate.com.au

Here at McGrath we are doing Business As Usual In An Unusual Way.

Free video walkthroughs is just one of the recent innovations (amongst several others) that I am adopting as part of my newly developed ‘Acreage Sellers Go-Forward Plan’ which I sincerely believe anyone looking to sell or lease their acreage property should be seriously considering during this current uncertain climate.

I have developed a planned approach which I’m very confident that I will be able to create the enquiry required to maximise value and achieve the best offers possible for your acreage property.

If you’d like to know more about the ‘Acreage Sellers Go-Forward Plan’ along with the other ways that we can assist you to sell your acreage property during the Coronavirus crisis, don’t hesitate to get in touch with me if I can assist you in any way or if you have questions about what’s involved in arranging a Digital Inspection.

I hope you find this information helpful.

Regards

Greg Vincent

Acreage Market Wrap - 21st March 2020

Hi, my name is Greg Vincent and welcome to this week’s Acreage Market Wrap where I share an insight into How’s The Acreage Market?

So this week, the Coronavirus pandemic has created a lot of disruption in the market and there is quite a lot of fear out amongst the community at present.

There have been a lot of changes occurring and as a society we have to educate ourselves effectively, change our behaviour, be there for each other, also take this opportunity to protect those amongst our community who at risk and at the same time evolve with the changes plus find new and better ways of doing business.

For example, earlier this week I shared an article on my blog which included an insight into some of the ways that we will be adopting new technologies and moving forward in the acreage market as a result of the current changes taking place within the real estate industry ...here’s a link to that article.

I’m focussed on doing whatever I can to help my clients and my future clients navigate through this current period of uncertainty the best way possible.

Today is now about doing ‘Business as usual, in an unusual way’.

It’s about understanding and embracing the changes in a Calculated, Confident, Competent, Caring, Connected and Calm manner ...and getting through these challenging times together.

Whilst these are unprecedented times, the headlines of panic seem to be getting the most attention with the social media spotlight shining brightly on them constantly and they’re getting so much air time that they’re spreading across the web so fast that it’s creating a lot of confusion and fear.

Hey, I’m not saying don’t be concerned, far from it. You should be concerned, but you should also take the time to educate yourself on the facts, and not get sucked in by all the sensationalism & click bait 'fake news' headlines.

One of my greatest concerns is that it's likely that a lot of people will end up making extremely poor, irrational decisions which can be very expensive mistakes, especially in real estate off the back of all the crazy panic & added pressure.

Which is why it’s important to remember during these highly stressful and uncertain times that…

When Emotion is High, Logic is Low

..and try to remain as logical with your thoughts and actions as possible.

In fact, I also shared another article this week about how the property market is historically sturdy against stock market downturns.

Plus, in between appointments, I tuned into a couple of live streamed property auctions held in different parts of Sydney’s housing sector today and each had good numbers of registered buyers in attendance and the clearance rates were still high.

Last week I mentioned that we had a buyer pull out from an acreage purchase in Annangrove due to concerns about the Coronavirus impacting their business, but, that property was subsequently Sold this week for $2.1m and the owner is extremely happy to be now on her way out to the country where she’ll enjoy being closer to her family.

Smart buyers are buying real estate at the moment because they know that when we get through the other side of this pandemic, we’re going to have the lowest interest rates in our countries history after the RBA called an emergency meeting for the first time this century and dropped the Cash Rate down to 0.25% add on top of that the population growth expected for Sydney this decade along with all of the extra infrastructure required, I anticipate that we should see a quick market recovery.

Actually, it’s come as no surprise to me to see reports now filtering through that investors are coming back into the property market.

You see, previously when there’s been a drop in the stock market like we had back with 9/11 and the GFC, many investors put their money into bank term deposits, but this time around the return on that investment is so low that investors are now seeing the yields from property as being very attractive right now and they like the security and stability that bricks & mortar investment provides during uncertain times.

How’s The Acreage Market?

Well last week, I mentioned that my greatest concern for the acreage market, was that the recovery for the acreage market was still lagging several months behind the price growth in the housing market that the acreage sector may not actually get to the point of price growth in this current property cycle and even though the housing market is still relatively strong, the impacts of an increase in unemployment, business downturns, lack of consumer confidence and sudden financial pressures may create a levelling off of the market, just at the time when acreage looked set to commence its strong recovery.

On a positive note, there are still a number of qualified buyers who are seriously in the market and are committed to buying an acreage property in today’s market regardless of the current conditions, and whilst buyer enquiry hasn’t been at the same levels as they were a few weeks ago, there’s still lots of enquiries from buyers who are keen to move onto acres.

Currently the number of acreages being sold has reduced this week and the increased volume of new listings coming onto the market is presently creating an oversupply.

Currently there a total of 401 acreage properties For Sale across the entire region. This overall total includes 217 acreage properties For Sale throughout all of The Hawkesbury, 126 in The Hills and another 58 For Sale within Sydney’s North-West acreage areas of Penrith and Blacktown.

This week, there’s been another 17 new acreage listings come onto the market but only 3 acreage properties were Sold this week (nearly half the number of sales that happened last week and almost a quarter of the sales that took place the week before) however, some good news is that there’s been an increase in the number that are ‘Under Contract’ with 19 acreage properties currently ‘Under Contract’ across the entire region.

So far in March there have been 55 new acreage listings and 19 properties sold. With both The Hawkesbury and The Hills areas each having 8 sold and 3 sales occurring in the Penrith & Blacktown Acreage suburbs that our acreage data is collated within.

Out in the field, this week, as mentioned before the property at 7 Everett Place, Annangrove was sold, I’ve also listed a magnificent property in Windsor Downs which I will be promoting ‘Off Market’ to my acreage database of buyers first. Also, the property video has just come in for a stunning 25 acre property at 209 Greens Road, Lower Portland which will be launching onto the major real estate portals next week. If you want an affordable acreage playground overlooking the Hawkesbury River then you won’t find a better opportunity than this.

Also, this coming week, I will be launching a spectacular home in Richmond which is absolutely perfect for anyone living on the other side of the Hawkesbury river who wants to downsize from acres and move closer in to transport and amenities.

The attention to detail and high-end finishes makes this home a place that I think you're really going to fall in love with.

I can't wait to showcase these amazing upcoming properties to the market later this week.

If you want a deeper understanding about what's happening in the acreage market make sure you grab a copy of The Acreage Report 2020 (Autumn edition) which features an insight into ‘The Future For Acreage This Decade' and outlines the Two Biggest Factors Set To Impact Acreage Over The Next 10 years.

It includes statistics about exactly what's happening in every acreage suburb within the Hawkesbury, Hills & Sydney’s North West acreage market.

When you download your copy, you’ll also receive exclusive instant access to The McGrath Report 2020 which features some excellent market insights from property expert, John McGrath.

The Acreage Report is FREE, and you can access a copy right now at www.TheAcreageReport.com.au

So there you have it. That’s it for another week’s Acreage Market Wrap.

If you’ve got any questions about anything I’ve shared this week or would like to discuss any of your acreage plans with me, don’t hesitate to get in touch.

Thanks for watching.

Regards

Greg Vincent

Property Market Historically Sturdy Against Stock Market Downturns

There are some positives that will come out of today’s unplanned, emergency rate cut (the first to happen since 1997) which was rushed through by the Reserve Bank of Australia to stem the economic damage and protect ordinary Australians from the Coronavirus crisis.

The nation's top economists decided to slash the official cash rate from 0.5 per cent to 0.25 per cent and interest rates are now at their lowest point in Australia's history.

When you add both the lowest interest rates ever plus the fact that there’s now more acreage property on the market than there was at the start of March, the overall outcome is that moving onto acreage has now become even more affordable with access to the cheapest money in our history.

Plus, historically when the stock market crashes, property tends to be seen as a more secure alternative for investors and it looks like this trend is happening again.

As the stock market is ravaged by fears of Coronavirus and the Australian dollar dips to its lowest levels in many years, Mark Williams of WILLIAMS MEDIA ponders the reactions of previous disasters in this article.

"This week we have seen a flow of capital to property," said Mr Williams.

"Property has become a safe haven in the past whenever there is a stock market correction."

"We saw this in the recession of 1987, the Asia crisis of 1997 and the Global Financial Crisis in 2008."

Mr Williams said indications this week showed that people were again moving their money to property when stock markets suffer significant corrections.

"In the past 3 days we have seen significant competition with above reserve results reported for both residential and commercial properties nationally. A record residential price in excess of $13m was achieved in the Brisbane suburb of Ascot” said Mr Williams.

"We saw strong bidding results at last weekend's auctions. Tempered by the fact these auctions are the result of buyers and sellers committed to transactions weeks before the pandemic was announced. However, they continued on with the knowledge of the stockmarket’s worst losses in many years and Coronavirus impacts on business starting to take hold."

"Upcoming auction numbers for the next four weekends has already been set. The auction numbers after that will show just how strong the market is, how much capital is flowing into property and how many people decide to hold onto their real estate, potentially creating an undersupply of stock."

“It will be interesting to see where the balance point is.”

There are a number of differences this time around.

Previously interest rates were much higher and many investors moved their money into term deposits, but now the yields aren’t there, whereas property has been showing solid price growth over the past 3 quarters and the rental yields are at the point where a large percentage of investment properties are now showing returns which are positively geared. Another new first for the Australian Property market.

It’s likely that the highly anticipated price growth in the acreage market still won’t occur in the first half of this year, but, at the current affordability levels we should start to see a lot more buyer activity in the acreage market as the impacts of the Coronavirus eases, especially off the back of the increased investment within the housing sector.

Property is looking like a very appealing option for investors, especially with recent reports now showing some hopes of a speedy cycle through the Coronavirus crisis…

Only a few weeks ago, China was overwhelmed by the coronavirus epidemic that began in the central Chinese city of Wuhan, accepting donations of masks and other medical supplies from nearly 80 nations and 10 international organizations. Now, with new daily cases in China dwindling into the single digits. ~ New York Times reported

If Australians work together during this crisis we may be able to get through it faster and with less fatality than many other countries, but only time will tell.

For more insights into the property market v’s the stock market, check out the rest of Mark Williams article here…

If I can be of any assistance to you or if you’re not sure which way to move during these uncertain times, don’t hesitate to get in contact.

Regards

Greg Vincent