Why are houses empty?

[mandy1970]

We are hoping to move to Perth in Oct/Nov 08 so we have started to look at real estate sites. The question we have is 'why are most of them empty'? It looks like about 80% of them are either empty or only have a few pieces of furniture in them to show them - no personal items around.

Also, if a house is sitting empty would a sale go through quicker. I have read on this site that somebody bought and moved in in under 2 weeks, thats quick!

Any ideas.

[ErmintrudeMcMoo]

I`ve been looking at buying (again - might be lucky this time round) and Im finding quite a few houses in our area that are up for sale belong to investors who have been renting them out. I think the rate rises may have something to do with why so many are selling just now. As to getting in earlier, I would imagine it would be dependent on everything being in place and everyone doing their job properly ie settlement agent, bank, any pre purchase checks etc. Personally I would try and allow a decent amount of time in order to factor in human error and don`t just assume people are doing their job.

[Life on easy street]

I am glad some one has noticed this.


I read a report of a house in Geelong Victoria that went up in value by 250k
No one lived in the house for 12 months.

It is my understanding that there is a 50% discount in capital gains tax
If a property is held for 12 months or more.

Has any one done a survey of how many properties are empty?

[Bobcat]

Originally Posted by mandy1970

We are hoping to move to Perth in Oct/Nov 08 so we have started to look at real estate sites. The question we have is 'why are most of them empty'? It looks like about 80% of them are either empty or only have a few pieces of furniture in them to show them - no personal items around.

Also, if a house is sitting empty would a sale go through quicker. I have read on this site that somebody bought and moved in in under 2 weeks, thats quick!

Any ideas.

If both parties are willing it's possible for the purchaser to move into a vacant property within a few days....................... the official REIWA form 09/04 765 entitled 'Possession Prior to Settlement' forms part of the contract as an annexure.

Obviously in such circumstances certain conditions will apply such as :

* the purchaser has to take out relative insurance for the building;
* clause 5 of the Joint Form Of General Conditions For the Sale Of Land is no longer applicable;
* an agreed rent has to be declared
* there is an undertaking that no renovations or structural alterations take place prior to settlement

In theory; if all the i's are dotted and all the tees crossed............. once the contract with appropriate annexures is signed................... it's possible to move in to vacant premises the next day.

[mandy1970]

Thanks for the replies folks.

That was what we sort of thought was the reason. We are going to stay with friends and family for the first 2-3 wks but really didn't want to rent long term so hoped that buying and moving in wouldn't take to long.

[Bobcat]

Originally Posted by mandy1970

Thanks for the replies folks.

That was what we sort of thought was the reason. We are going to stay with friends and family for the first 2-3 wks but really didn't want to rent long term so hoped that buying and moving in wouldn't take to long.

Is there any particular area in WA you are planning to look at?

[mandy1970]

Hi Bobcat

We are looking at the hills. We started at Kelmscott (east) and worked our way round to Mundaring and then Billy Braveheart mentioned Forrestfield. So after checking A LOT of places I think Forrestfield has become No 1. It seems semi-rural, good schools (girls 9 & 4) and not to far from the airport for Hubby's work (oil rigs), and we have friends and family in Gosnells and Thornlie so we would be close but not to close, if you know what I mean ha ha.
Any opinions would be great.

Mandy

[Bobcat]

Originally Posted by mandy1970

Hi Bobcat

We are looking at the hills. We started at Kelmscott (east) and worked our way round to Mundaring and then Billy Braveheart mentioned Forrestfield. So after checking A LOT of places I think Forrestfield has become No 1. It seems semi-rural, good schools (girls 9 & 4) and not to far from the airport for Hubby's work (oil rigs), and we have friends and family in Gosnells and Thornlie so we would be close but not to close, if you know what I mean ha ha.
Any opinions would be great.

Mandy

You will need to have a good look around when you come over as everyone's tastes are different. Like a dill i listened to our kid and ended up in Wanneroo (no offense meant to PIO residents of Wanneroo) but it just wasn't what we were used to and we got lumbered with a house we didn't like; in an area we weren't all that keen on.

Mind you we have come on in leaps and bounds since then and with me working offshore on the rigs too; that allowed us to get back up a few rungs on the ladder after having fallen off the top of the ladder at one stage and having to start allover again from scratch.

You'll be in a good position insomuch as hubby should be on film star wages with him working offshore; and he'll probably be doing 4 weeks on 4 weeks off.......... or 2 and 2 so commuting to and from the airport shouldn't be a problem.

Is hubby a North Sea Tiger?

[mandy1970]

Hi Bobcat

Yes he is and loves it. He owned a fishing boat before he went to the rigs so any job is better than that, especially now.

His company is sending a rig to India this year so he is hoping to get there which would be great. But if not he has been told a hundred times that that there is no shortage of work in or from Perth. Where do you fly to for work?

As for houses we are lucky enough to stay in an area that our house has X4 in value so we can have a great start to our new life.

Mandy

[Bobcat]

Originally Posted by mandy1970

Hi Bobcat

Yes he is and loves it. He owned a fishing boat before he went to the rigs so any job is better than that, especially now.

His company is sending a rig to India this year so he is hoping to get there which would be great. But if not he has been told a hundred times that that there is no shortage of work in or from Perth. Where do you fly to for work?

As for houses we are lucky enough to stay in an area that our house has X4 in value so we can have a great start to our new life.

Mandy

Hi Mandy

I'm a bit too old for working offshore now so I'm not on the rigs anymore; I have my own real estate agency based in Carramar so I don't need to fly to anywhere for work. I actually work from home so that's better still; don't have to go anywhere........... no commuting, no traffic jams......... can't beat it.

I used to work on the rigs off Durban in South Africa and also up in Mozambique prior to relocating to Australia. Also worked on a rig in Indian waters.......... interesting but not the best of postings. While in Australia I got sent down to Bass Strait............ not exactly a good posting either but seemingly a doddle for any North Sea Tigers! I did a few years up in Indonesia and round Singapore based out of Perth.............. I was also based out of Darwin for a year or so while we shot the Timor Sea doing seismic work.

Your hubby will get a job standing on his head.......... no problems at all. Perth is fast becoming the Oil & Petro Chemical industry capital of the world. Look out Texas and Aberdeen............ Perth is taking over!!!