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http://www.castrangilbert.com.au/index.cfm?pagecall=staffmember&staffID=2315
Mark Forytarz is recognized as the most successful project marketer in Melbourne. This enviable position has only taken him 14 years to establish.
His relentless work ethic, attention to detail and understanding of this market is the reason why he is so successful.
He has sold projects all over Melbourne ranging from student accommodation right through to luxury high end apartments.
He is an extremely capable auctioneer and has a degree in Marketing.
Mark lives in Toorak with his wife, Dimi and three young children.
He is actively involved in many aspects of community life.
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The Australian Competition and Consumer Commission (ACCC) says the real estate industry has been put on notice.
An amendment to the Trade Practices Act is due to be further scrutinised by Federal Parliament next month.
It is proposing fines of more than $1 million for companies and up to $220,000 for individual agents that underquote, use dummy bidders at auctions and airbrush photos of properties.
By the looks of things, these changes will become law sometime next year.
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Mark Forytarz has a great development opportunity in Burwood, this high exposure development site (1,776m2) approx. and regular in shape is within close proximity to Deakin University (Burwood).
Boasting a wide frontage, this site suits many options including a prime student apartment site (STCA) or OYO 1 & 2 bedroom apartment site (STCA).
Land: 1776m²
Mark Forytarz
Castran Gilbert
Phone
03 9827 1177
Mobile
0407 766 308
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1219 Riversdale Road BOX HILL SOUTH
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Property ID: 973947
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Price: Contact agent for details
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| This high exposure development site of 1,236m2 approx. with two street frontages has a Permit for 26 spacious student apartments or proposed plans for 38 OYO one and two bedroom apartments (STCA).
Ideally located within close proximity to Deakin University (Elgar Road Campus). |
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Contact Agents
Mark Forytarz 0407 766 308
mforytarz@castrangilbert.com.au |
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The age have picked up on Mark Forytarz narrow escape from the collapsing scaffolding in Praharan last week, read the article here:
http://www.theage.com.au/opinion/the-gospel-according-to-ray-on-collins-st-20090302-8lkg.html?page=2
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Mark Forytarz, off the plan property sales specialist at Castran Gilbert, narrowly missed the collapsing scaffolding in Prahan last week. Mark was in on site to inspect a hotel/apartment complex going up in Commercial Road, Prahran. Forytarz completed his inspection and drove off. Minutes later, the scaffolding came crashing down.
Mark Forytarz escaped unscathed, unfortunately some workers and cars parked nearby were not so lucky.
Mark Forytarz narrowly missed this scaffold collapse in Melbourne
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Claire Heaney from the herald sun has written an interesting article about whether the hesitation from property investors is leading to bargains in the market. From the article:
NERVOUS property investors are waiting for prices to stop falling before returning to the market, according to property research company RP Data.
But this hesitation is creating bargains for fast-acting first-home buyers who are willing to take a bet that prices are at or close to their lowest point.
“This is good news for first-home buyers, because fewer investors mean less competition,” RP Data’s national research director Tim Lawless says. “These two segments of the market often compete for the same housing stock because of the low entry price and generally strong rental yields.”
Figures released this week show Melbourne homes are now at their most affordable in five years for first-home buyers. Falling interest rates, higher first-home buyer grants and falling property prices have cut the amount of income needed to service a mortgage.
Read the full article here: http://www.news.com.au/heraldsun/story/0,21985,25074653-5013926,00.html
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Good article about whether its a good time to buy into the hard hit top end of the market, from the article:
There are plenty of losers in the falling market, but the big winners will be those able to pounce on a cut-price premium property.
Though the downturn is being played out differently from suburb to suburb, it’s clear the properties at the top end of the market are being hardest hit. Exclusive suburbs such as Balwyn have seen as much as 21 per cent sliced from their median prices in the year to December last year.
The houses in the $500,000 to $600,000 bracket haven’t been as hard hit and some may have dropped only 10 per cent.
They are also expected to rebound quicker.
Read the full article here: http://www.news.com.au/heraldsun/story/0,21985,25074641-5013926,00.html
Mark Forytarz
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Interesting article by Ben Butler and Ben Packham over at http://www.news.com.au/heraldsun/story/0,21985,25091470-5013926,00.html about
From the article:
The Reserve Bank has cut rates five times since August, slashing the official rate from 7 per cent to 3.25 per cent.
While those who fixed their home loan at last year’s higher rates have seen no relief, falling home loan rates have helped contribute to a clearance rate of 77 per cent this weekend.
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Another interesting artcile from Bankwest over at realestate.com.au (Full article here: http://www.realestate.com.au/doc/review/feb09-1/bankwest.htm?rsf=newsletter_rea), below is an extract:
Almost every industry expert has a different view. Some senior economists are forecasting further large falls in the RBA cash rate whilst others say we’re nearing the bottom of the cycle. To the ordinary borrower, it can all be very confusing.
Of course, the reasons for choosing a fixed rate mortgage as opposed to a variable product may differ based on individual circumstances.
For first homeowners who are on a tight budget, a fixed rate mortgage is a great way to lock in a rate and know exactly what the payments will be for a few years while they are settling into their home. Fixed rates may be slightly higher than a variable option, but if knowing the rate is locked in helps borrowers sleep at night, it can be a great option.
On the other hand, a mortgage product with a variable rate may provide greater flexibility for homeowners looking at selling their property or who are looking to pay off their mortgage faster with extra repayments.
So what are the main things to be aware of?
A fixed rate loan may be costly to leave early
The majority of fixed rate loans will charge a break cost that is based upon the economic cost to the lender of reversing the funding they have locked away for the life of the loan. So if you anticipate paying out the loan early, a variable rate option may be more appropriate.
Do you want to pay off more than the required repayments?
Most fixed rate loans limit any additional repayments to a specific amount each year (eg. $5,000) and if you put more into the account, the lender could pass on any costs.
Read the fine print
Variable rate loans can offer more flexibility when paying the loan back early, but this could incur high exit fees with many ‘introductory’ rate loans. It’s important to understand the terms and conditions of the product that you’re applying for.
Ultimately, you should work out what’s more important to you; the knowledge of exactly what your repayments are with a fixed rate, or the flexibility to repay the loan early that comes with a variable rate.
If you want the best of both worlds, most lenders will allow you to ‘split’ your loan.
For example, you could have $200,000 as a variable rate loan and $200,000 on a fixed rate loan. This can be a great option as you are protected against rate movements on one side, yet you retain the ability to put extra funds (such as a tax refund) into the variable portion. It also means you’ll be charged a lower break cost on the fixed portion if you need to pay out the loan within the fixed rate term.
Looking ahead, it seems that we may be in for several more rate cuts as variable and fixed rates continue to fall. But how far is anyone’s guess. If you’re comfortable that you can afford the repayments on your mortgage, the question of whether to fix or not comes down to what is most suitable to your individual circumstances. That means weighing up your plans for the next few years against any savings you might pick up from renegotiating your loans.