Over the past few months we have seen some staff changes at the Lennox Head Office.
With Alex Kennedy now off & travelling, Diana Joynson has moved into Holiday Lettings & Rentals. Our new face on the front desk is Paula de Vos and I am pleased to introduce Yonika Mantel as my PA.
All in all this is a great team and we are all looking forward to working together and offering the outstanding service we have maintained in the past.
Natalie, Marie, Trish and myself were fortunate enough to attend the Aust Real Estate Conference – AREC 2010 held in Sydney last April. Truly a valuable opportunity to get together with industry leaders and other like minded agents across Australia and New Zealand. To say that the experience was inspiring is an understatement.
Read more about it in our June newsletter!
With 2010 fiscal year end upon us I would like to congratulate my team of hard workers for their effort and dedication which has shown an outstanding growth factor in both sales and rentals, despite the difficult economic climate.
KEEP UP THE GREAT WORK.
You can download a copy of our June 2010 newsletter here
Lois
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The string of interest rate rises since October is not deterring borrowers from taking out variable rate housing loans, leaving mortgage holders potentially more exposed to higher repayment costs.
The Reserve Bank, in its quarterly Statement of Monetary Policy released today, said fixed-rate housing loans now account for only about 2 per cent of total – the lowest ratio in a decade.
”This share has been well below its decade average of 11 per cent for almost two years, with the result that the share of outstanding loans at fixed rates has declined substantially,” the RBA said.
Fixed loans mortgage borrowers in the market fell to 4.8 per cent of the total in 2009 from as high as 19.4 per cent in 2007, separate data from the Australian Bureaus of Statistics data and RateCity research show.
Fixed-rate loans, which currently charge an interest rate about 1.5 percentage points higher than standard variable rate loans, demand larger fees for providing borrowers with certainty about monthly costs.
Variable rate mortgages, while offering more repayment flexibility, expose borrowers more directly to Reserve Bank interest rate changes. The RBA has lifted rates six times out of its past seven monthly board meetings – including earlier this week – adding about $300 per month to total repayments for those borrowers holding a typical $300,000, 25-year variable rate mortgage.
Borrowers flocked to the certainty of fixed-interest mortgages during the last cycle of rising interest rates, with the ratio rising to 22 per cent a month over the six months to March 2008.
The average three-year fixed rate mortgage rate was 9.42 per cent in August 2008, according to RateCity. That compares with 7.38 per cent for a standard variable rate today.
”There are still a lot of people out there, still paying these high interests rate for fixed loans,” said RateCity consumer advocate and spokeswoman Michelle Hutchison.
Being locked in also meant those borrowers missed out on tumbling rates over the past two years when the RBA drove its key cash rate to 50-year lows in a bid to avert a sharp economic slowdown.
Outlook changes
Interest rate futures pointed to a rate cut this morning for the first time since August of 2009 as fears unleashed by the sovereign debt crisis in Europe forced central banks reconsider the case for a global slowdown.
As of Friday afternoon, the market was rating the possibility of a rate cut in June by the central bank at a 6 per cent chance – a reversal of previous months when the outlook has been consistently pointed to the prospect of rates to rise in coming months.
The turmoil in financial markets – including steep plunges on Wall Street overnight – has also trimmed the prospect of further rate rises in coming months.
Credit markets are pricing in a cash rate for the RBA of 5 per cent within a year from a current 4.5 per cent.
czappone@fairfax.com.au
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Take time out to enjoy - let the Lois Buckett Team do it for you
After the inclement weather that we experienced over the Christmas and New Year break the sun is now shining, surf’s up and the area is bursting with holiday-makers and locals enjoying our beautiful beaches and cafes.
Traditionally January through to April is peak time in real estate for our region and our sales and rental staff have been kept busy servicing our dedicated client base.
Real estate values have continued to show a steady rise and (in line with reports from RPData, EAC, realestateworld.com and domain.com ,indicating that the property market in NSW is on the rise) we anticipate continued success for our clients.
Of utmost importance when considering the marketing of any property is first impressions.
In Lennox Head, Ballina, Bangalow, Byron Bay and surrounding areas the presentation of any property can easily make the difference in a sale. A fresh and tidy appearance with a welcoming feel ensures that prospective purchasers feel comfortable and at ease when they inspect – what a difference some fresh flowers and a light/airy ambiance can make.
At Lois Buckett Real Estate our staff is trained to help you optimise your property and assist you in choosing the best possible path for marketing – with special attention to detail.
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Lois Buckett Real Estate has the edge on the real estate market.
Lois Buckett Real Estate has a unique and dynamic approach to the property marekt industry, evident in our particular brand of advertising and company image.
There is a dedicated team of staff available to service your real estate needs and keep you up-to-date and informed every step along the way.
Whether residential, rural, commercial or holiday accommodation, the Lennox Head and Bangalow offices offer up to the minute Trust Accounting and Web based services covering all aspects of Property Sales and Management.
Our area base covers Lennox Head, Ballina, Bangalow and Byron Bay from the Coast to the Hinterland and everywhere in-between.
Lois has definitely raised the bar for all agents with her distinctive style and high profile in property sales and marketing.
Lois Buckett Real Estate
A Valued Member in the Community!
Presentation of book award to student.
With a view to giving back to the community Lois contributes to Lennox Head Primary School and Bangalow Public School with her “Buckett of Books” award on a monthly basis and constantly gives of her time and money to many worthy local groups, including Lennox Head Surf Club, Bangalow Bowling Club and The Buttery.
Lois Buckett supporting the Team
Pro-active in so many community based activites Lois and the team are involved and caring participants.
After a recent trip to Cambodia Lois became involved in assisting the Self Help Community School and the New Hope Community Centre and remains a constant and generous benefactor.
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Lois Buckett
Hello everyone, this is the new blog for Lois Buckett Real Estate in Lennox Head. On this blog you’ll find lots of interesting information about real estate, houses for sale and rental properties available in the area.
We hope you find the information helpful to you in your search, please feel free to ask us any question about the area and what it has to offer, we look forward to working with you in the near future.
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