HAVE YOU BEEN RE VALUED ?

Interesting situation happened to us this week.

Buyer puts an offer on a property, went to his bank to discuss the finance, the bank informed him because one of his properties (Karratha) had not been valued in 7 years the value had gone down so dramatically he had very little equity in the property.  (because he bought it quite high).  His own home has gone down in value which has therefore created his lack of equity.

Lesson here to us all, get our properties valued not by a real estate agent but by a licensed valuer.

As Perth has gone through a huge change in the last five years the properties that have been bought in the boom are now 30% minimum worth less and I just think people have not really thought about it until they want to buy another property.  

Now is a good time to buy with a lot of stock on the market, price levels are reasonably low so if you have not been re valued do it now in preparation for the next five years.

MAKE YOUR OWN DECISION AND GIVE IT A REAL GO !!