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Shortage of Properties For Sale, Winter 2013

The Reserve Bank meets today and the consensus is that that there will be a rate cut of .25% and with a Federal Election date now booked in this is good news for buyers. Yes I say buyers! Not since Winter 2003 have I seen a shortage of listings like this winter, where buyers come through an open house and eye their competition, recognising other buyers as bidders at the previous week’s auction, both being outbid by someone who went the extra $10,000.

In the current market buyers have to be ready to pounce, think twice and you will miss out. Mind you with fixed interest rates below 5%, it is a great time to be buying, there just needs to be more on the market for all the buyers currently looking.

Hopefully with the certainty of an election date and spring around the corner more people will decide to sell in the coming months and current buyers will be unpacked and moved in for Christmas 2013 in their new home.

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South Coast delights

Many Sutherland Shire residents own farms, holiday houses and cabins on the South Coast of NSW. It’s the perfect getaway destination for us with our easy access onto the Princes Highway. Put the cruise control on and head south! Whether it’s Gerringong, Gerroa, Mollymook, Berry, Ulladulla, Berry, Culburra, Huskisson or St Georges Basin, they are all gorgeous towns with beaches or picturesque landscapes that make us forget the city!

One of the most popular weekends for the south coast pilgrimage is the Easter long weekend. 4 days of South Coast relaxation, this year’s Easter weekend coinciding with the start of the school holidays, is the perfect time for a 4 day holiday.  Quite often it rains for this holiday but wow, if this current weather could continue!

Beach & Bay is currently marketing several properties on the South Coast with a few more about to be advertised. As part of our expansion plans we have opened up a new division – Beach & Bay Realty, South Coast giving us even more reason to head south!

Here are some photos of our favourite places  and some of our properties for sale…. I Love The South Coast!

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Nevada’s Lake House by Mark Dziewulksi

Set on a half acre lot overlooking Lake Tahoe in Incline Village, Crystal Bay, Nevada, this immaculate waterfront US home is now on the market for a mere $43 million!

The “Cliff House Project”, now known as “The Lake House” by the current owners, was designed by San Francisco-based Mark Dziewulksi over a period of 4 years between 2006 and 2010.

This flawless 807m2 five story modern home is comprised of steel, concrete and glass featuring four bedrooms, four bathrooms, a glass elevator, a six level glass stairwell and of course a private pier. Clearly nothing but the absolute best for this 43 million dollar baby!

I could note down a very long list of features this one-of-a-kind home has, but in this case words won’t do it justice, I think I’ll let the pictures do the talking!

 

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Riverside In Lilli Pilli…

As I perused the list of inclusions for 23 Gow Avenue Lilli Pilli words like ‘designer’ and ‘imported’ reappeared over and over to the point where the phrase “no expense spared” could be considered an understatement. I have friends who live in extravagant waterfront houses, some of which are among the most expensive in the Sutherland Shire, but I have never seen anything like 23 Gow Avenue. To give you some idea of the property’s magnificence, 23 Gow Avenue was included in the Sydney Morning Herald’s ‘Top 10 Views of Sydney’ list published in the Good Weekend magazine in 1998.

The tiles in all entertainment areas are authentic Travertine imported from Italy, the carpet is 100% pure wool and even the curtains are imported. There’s a triple garage, home gym, inclinator, marine crane, outdoor spa… you know, the usual.

This property is so spectacular we have undertaken new marketing methodologies and launched its own website. The site includes photos, an interactive floor plan, video and a complete list of inclusions and property specifics. Check it out www.23gowavenuelillipilli.com.au.

Inspection is strictly by appointment only, so feel free to contact Beach and Bay via our website or call us on 9527 0008.

www.beachandbay.com.au

www.23gowavenuelillipilli.com.au

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This Week: Open For Inspections

Beach & Bay Realty are proud to present the following properties open for inspection this week;

1. 669 Port Hacking Road, Caringbah South with Kylie Emans

This original 2 bedroom house is going to auction this Saturday 15th May at 10am.

The last open house before the auction will be held Wednesday 12th May 10:00 – 10:30am.


2. 307 Woolooware Road, Burraneer with Natalie Vials

This exceptionally private 3 bedroom townhouse with modern inclusions is for sale by private treaty.

The next open house will be held Saturday 15th May 11:00 – 11:30am.


3. 111 Kangaroo Point Road, Kangaroo Point with Kylie Emans & Natalie Vials

This 4 bedroom executive house enjoys waterviews of the Georges River & enjoys lifestyle inclusions such as plunge pool, wine cellar, outdoor spa. For sale at $2.1mil

The next open house will be held Saturday 15th May 12:00 – 12:45pm.

4. 107 Kangaroo Point Road, Kangaroo Point with Natalie Vials

This outstanding 4 bedroom Sammut Development waterfront is for sale at $3.45mil.

The next open house will be held Saturday 15th May 1:00 – 1:30pm.

669 Port Hacking Road Caringbah

307 Woolooware Road, Burraneer

111 Kangaroo Point Road, Kangaroo Point

107 Kangaroo Point Road, Kangaroo Point

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Lender Withdraws Unconditional Approval

We commenced a Sydney investment project based on the client’s wish to buy two apartments. As per our practice, we sought and received the finance pre-approval based on the client’s current interstate investment properties being 100% owned.

After 2.5 months of researching and inspecting, our offers on two separate properties on behalf of our client were accepted based on a 0.25% deposit. Both contracts were signed with a 5 day cooling-off period. The outcome of the due-diligence was positive including the lender’s valuation. Un-conditional finance was issued.

Three days into the cooling-off period, the lender emailed the client requesting a copy of the title deeds of the interstate properties. On receiving the facsimile of the deeds, the lender then asked for the originals. The client was in possession of only the photocopies of the deeds (never bothered to ask for the originals when the loans were paid off). The client contacted the interstate lender and requested the originals to be air-expressed next day to Sydney. The lender could not comply because they could not find the originals and advised they will have to arrange for duplicate originals to be issued by the relevant government department.

Consequently, the Sydney lender withdrew the un-conditional approval and the acquisition of the two Sydney properties fell through.

The morale of this experience is two-fold:

1. Ensure you are in possession of the original title of your property.
2. Unconditional finance approval is neither un-conditional nor a guarantee.

 

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