Premium Property Tax

Premium Property Tax

“When you are on a good thing, stick to it” is the way the saying goes. For all of those who have done their homework, they will tell you that the real estate market is far from finished. As we launch our next ‘First Eight’, it is interesting to note that the next eight is already nearly full and we have some outstanding real estate to offer. Forget about “Temptation Island”, we are the ‘Temptation Agency’! This week we negotiated about ten million $$$ of property! 9 Prince Albert Street Mosman exchanged for $3,050,000 and another seven million dollars worth of homes are awaiting exchange. One of these properties we sold a mere three hours after listing it on the Internet !! This week the ‘Princess of Units’ Marize Kouroupis, negotiated the sale of three more apartments – 40/560 Military Road, 1/56 Harbour Street & 2/110 Spit Road which was only released to market last week! For those looking to purchase, watch your e-mails, because some of you will be more than happy with what we are about to deliver… the property market is about to ‘shake rattle ‘n roll’ !!

I love the quote “there’s an awful lot of satisfaction in making a difference” and not a day goes by, where we don’t receive accolades about our Internet business. So when the network decided to upgrade its website I was a happy participant. Out of curiosity, I had a look at a few of the major websites and I was absolutely amazed. I did find one good use for them… the time it takes to find the property of interest equates to the amount of time required to roast a leg of lamb! Simply they do not work and for any agency to be progressive and aggressive with Internet marketing it needs to host its own site. One office boasted 750 page views last month! Compare that to our 66,000! And no, I don’t sit in my office all day clicking on our website, that is 66,000 individual IP addresses visiting our site !!

Many are asking if the property market is, or will be, as volatile as 2001. The answer so far is that the property market is up on 2001 and it has serious attitude. Whilst a little premature to say, I can offer this – we are negotiating some pretty amazing prices at the moment and more will be revealed as the weeks go by; the difference is that many are taking the profits from the market. Real estate is not about houses it is all about $money$ and unlike the stock market it is easy to understand. More and more are doing their homework and watching the market on a daily basis, awaiting that new opportunity. It is also a team effort, where a husband and wife can share ideas and create their own design and many are exceeding in the ‘property profit’. We still have the three P’s, being position, position and position – however, I like the two P’s “Property Profit”. Interest rates are politically driven and there is no way Mr Howard would allow them to dramatically increase. For that to happen, we would see a recession overnight and recession = depression. The real estate market is one market that is keeping the economy alive. It is a broadbase industry employing millions and there also many that derive income from it, so the Government has more than a vested interest in it.

You might notice that the media is directing much time discussing the Stamp Duty and Land Tax… Oops the Government prefers to call it the “Premium Property Tax”. I was rolling on the floor laughing when I read that if the Liberals were elected they would abolish the Premium Property Tax! A spokesperson for the Government said “If you do that then education and hospitals would suffer”. Well that sums it up. We know that none of the money derived from the property industry goes into education or health, just curious where it does go!! From our discussions with clients, whilst most don’t like paying Stamp Duty, they are prepared to grin and bear it. Having said that, I would not be happy to fork out $837,990 which was the amount payable when we sold the $15,500,000 Balmoral property. (Psst… Want to know a secret?… Another home could come very close to that record soon!!) It is Land Tax which is the main area of concern. I guess when you look at the fact that not one politician pays the Premium Property Tax, you can see why the policy falls on deaf ears! I stand corrected, the Libs announced that they will abolish it. Great to see that they have finally come out with their first policy announcement. And not to be outdone, Bob has been busy making sure that his beloved blue groper is safe, introducing new fines. Now he can be assured that when he takes his snorkel and flippers to the beach he still has a captive audience!!

Time to go and make our contribution to the Government by selling a few more properties! It really can become ‘taxing’ on the system! Yes Mr and Mrs Carr, this home comes with the double-whammy. Not only does this home feature attractive Stamp Duty, but you also qualify for Premium Property Tax! This really is your lucky day! And by the way the blue gropers over at Clovelly Beach would like to thank you for your contributions… ^_^

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