29 Sept 2007 On-Line Property Auctions
Century 21 successfully trialled a system where a purchaser can bid for a property online, rather than attend the actual auction, which people often find intimidating.
It is anticipated it will cost sellers about $320 to place their auctions and the system is expected to go live on 5th November 2007.
8 August 2007 Interest Rates Rise - Are you paying too much?
The Reserve Bank just announced interest rates will increase by 0.25%.
Give us a call if the interest rate rise is affecting you, as we have a number of loans which could save you thousands of dollars every year.
23 July 2007 When is the Best Time to Buy Property
The old saying 'You should buy an umbrella in sunny weather' really applies today.
Although the property market has been a bit 'wobbly' over the past year or so, it is starting to move again in a big way, mainly due to the shortage of rental properties available and the exceedingly high rental returns.
So now is a great time to purchase a property before values increase.
16 July 2007 Housing in Sydney is Affordable
The media will have you believe owning property in Sydney is unaffordable and beyond the reach of many, particularly first home buyers. To illustrate how out of touch these reports are, one of our clients moved into his first home today which he purchased for $215,000.
It is a nice two-bedroom home unit in Harris Park, only about a 5 minute walk to the railway station and a 10 minute walk to the heart of the Parramatta CBD and Shopping Centre.
Purchasing for $215,000 we organised a 95% loan, so the deposit was $10,750. We then obtained the First Home Owners Grant of $7,000 which bought it down to $3,750. Add $1,750 for costs, legal fees & searches, meant he only needed $5,500 of his own money to purchase his first home in Sydney!
7 July 2007 Property Values Increase
Fifty-Two Sydney Suburbs now have a median property value of more than a million dollars.
This was the front page story which appeared in today's Daily Telegraph, where property analysts RP Data predicted more Sydney suburbs would be joining the 'million dollar median club' in the near future.
The story continued "A couple who bought their Haberfield home for $760,000 in 2004, now finds the average price in their suburb is $1,115,000."
The message is clear: Buy an investment property, even at the lower end of the market and watch it grow, as property is the smartest long-term investment you can make.
1 July 2007 Tax Cuts Provide Greater Borrowing Capacity
The tax cuts which were announced in the recent Federal Budget take effect today and this means you may have a greater borrowing capacity to purchase a property.
Lenders look at whether a borrower can repay a loan and this is called the borrowers ability to service the loan. A number of people believe the ability to service the loan is determined by their gross income.
However, while the gross income is considered, it is your 'after tax' net income which mainly determines your borrowing capacity. Therefore these latest tax cuts give you a greater net income and increased borrowing capacity.
8 November 2006 Interest Rates Increase
With the 0.25% interest rate increase announced by the Reserve Bank this morning (which we predicted on the 27th of September), now is the time for you to call us so we can review your current loan to see how much money we can save you.
All of our 35 lenders are competing for your business by offering us low interest rates and as a example, a couple enquired if we could provide them with a loan which would reduce their repayments, as they were paying $3,240 every month:
| Loan Amount |
| Monthly Repayments | Home Loan | 180,000 | | 1,480 | Husband's Car Loan | 35,000 | | 770 | Husband's Credit Card | 7,000 | | 230 | Wife's Credit Card | 8,000 | | 260 | Business Loan | 20,000 | | 500 |
| $250,000 |
| $3,240 |
We refinanced all their above loans into the one loan and they are now only paying $1,680 per month, which is saving our clients $18,720 annually. So call us and we will also show you how to save money!
20 October 2006 Home Valuation Guide
Click on this link for an 'easy to use' valuation guide, which is very handy in exploring upward percentage trends (Courtesy of Ninemsn).
www.homepriceguide.com.au/snapshot/index.cfm?source=ninemsn
9 October 2006 Suncorp's New 3 Year Fixed Rate of 6.99%
Suncorp today announced their new three year fixed interest rate of 6.99%. Citibank also dropped to 7.12%, AMP's went down to 7.15% and ANZ dropped to 7.19%. This confirms what we have been suggesting in recent weeks, so keep reading this 'Latest News and Comments' section.
2 October 2006 Low 3 year fixed interest rates
The low 3 year fixed interest rates most lenders are now offering confirms our previous news item that most of the major lenders are predicting there will be another interest rate rise towards the end of this year, then they will remain stable throughout 2007 before coming down in 2008.
Banks are not in the business of loosing money and because they now have 3 year fixed rates of around 7.20%, confirms the major lenders anticipate interest rates will fall to be well below that mark within the next two years.
27 September 2006 What's happening with interest rates?
At a seminar attended by Ryde Home Loans yesterday, a senior Wespac Bank analyst gave a 30 minute slide presentation of all the economic variables which determine movements in interest rates.
They predict interest rates will rise by .25% in November, then remain stable throughout 2007 before coming down in 2008. The Macquarie Bank made the same prediction on radio today.
24 September 2006 Sharing in the purchase of a property
A new webpage has been released for people wanting to purchase property which might normally be out of their reach. Go to www.Co-BuyWithMe.com The site connects you with people looking for someone to share in the purchase.
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