Easy Home Renovation For Profit » Finance

Interest rate where are they going?, effect easy home renovating

Tim — Thu, 22 Jul 2010 02:50:00 +0000

One of the hot topics must be interest rates for homes and home renovating. Are they going up or not ? And the answer is who knows? But the largest indicative home loan interest market is arguably the Futures Interest market showing interest rates could rise 20 points by this coming Christmas. How can one check this market?
It is quoted in the Australian Financial Review, every day in the pages just after the sharemarket quotes. Or one can try the interent using www.tradingroom.com.au and scrolling across to the futures quotes.
The Reserve Bank Australia, RBA, gives regular ambiguous commentary every month, so one can read this at www.rba.gov.au. I recommend one read the original RBA articles and dont rely on the newspaper or TV news quasi- commentary.

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New Ideas re Design Electric Cars effect on home renovating

Tim — Wed, 02 Jun 2010 00:19:16 +0000

Reading , about the new models, the Mitsubishi Imiev, { due next month } costing $62,000, closely folowed by the Tesla, Chinese EV made by BYD at $25,000, Nissan Leaf $40,000, with the Ford, GM Volt at $65,000 and Toyota models due in two years. A plug in Prius is also due, this has both the convenience of petrol and the low cost running of the electric power. While the Imiev is currently, too dear, its available this year, in July. The cost shall halve, as production volumes are expanded over the next two years. The BYD Chinese car is much more reasonable and due, for sale, next year 2011. Apparently the Chinese are expecting to surpass the volume of production of Toyota. The sales of Electric cars are to represent 10% of the world car market in 10 years, and 30 % of Developed country car sales {reference Delloitte}. The subsidies for purchase of an electric car vary from $7,000 to $9,450 in overseas countries.

The point is the electric car is arriving, and cars will remain the dominant form of transport for Suburban people. Currently there are three Imiev cars touring Australia for marketing.
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So one needs to take this into consideration in your property decisions

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NRAs scheme for homes

Tim — Mon, 31 May 2010 03:33:42 +0000

Hi readers , I am discovering property investment deals yielding 5% to 8 % from this Government scheme. These investment properties are in growth areas. I reckon tenants are keen as they are applying at the rate of 80 for each home, developers are keen and Investors are still discovering this scheme. The government is advising the home building shortfall in 2008 was 85,000 and expected to expand to 213,000 by 2013
The NRAS is response to this shortfall investment, property, home, developers, building,shortfall.
Reseach the website and discover for yourself .

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House land values in different States! Melbourne Boom!

Tim — Fri, 14 May 2010 02:11:12 +0000

Today,’I am researching why is Melbourne booming? I have noticed that the cost of land is so much cheaper in Melbourne. Obviously, this impacts the home final value. In fact it has a compounding effect. Popular press note from the REIV, that the development of house lots in Sydney 2008 at 2,100 in Melbourne at 16,020 in Brisbane at 11,000. The comparable development charges per lot at $99,800, $29,750, $43,238.
I claim this goes a long way to explaining the lower cost of house and land packages in Melbourne. Melbourne has plenty of acccessible and nearly flat land in the Western, Northern and South East growth corridors. This goes a long way to explaining the cost of a House and land package at $600,00 in Sydney, compares to $320,000 in Melbourne.

I claim Melbourne is winning a rising rate of interstate immigration from home buyers.
The Victorian government is moving to doubling the Infrastucture capital works levy on land. Surely this can only increase the cost of land.
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Design your Home Loan Discount!!!

Tim — Mon, 10 May 2010 03:11:50 +0000

Given the pervasive presence of the computer and Internet. One can apply Direct over the Internet for your home Loan.
This will save you close to 30 points off the home loan, forever.
This is because the cost of loan delivery and processing by the Bank is much lower, part of this lower cost is passed onto you the borrower. Increasingly, over the next few years the public will be be able to access these loan products. Just as we apply for cheaper Airplane flights, and last minute Hotel bookings, internet adverts for property. This will become pervasive for Home Loans. No great suprise here, its already available. Some key internet banks include ANZ Direct, ING Direct, UBank, every major bank has an internet Direct loan product.

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Help for First home buyers, on interest!

Tim — Wed, 05 May 2010 05:29:55 +0000

I Note some simple ideas, to negotiate a lower interest rate for the home.
1 Always research the market via websites like infochoice, iselect

2 Always know as much as possible before you interview the Mortgage Home Loan Originator, as they can be real busy, and want to work with well informed and qualified buyers.
3 Discover that a ” professional deal ” home loan pack, can have a discount of 8o Points below published deals.
4 Consider the ‘Introductory rate” deals with discounts of up to 80 points, check the reversionary interest rate.

5 Always include all income streams, like welfare, family payments, overtime, rents, Dividends, Part time work : in order to present the strongest possible deal.

6 There are today, special deals for Union members, this can be an 80 point discount.

7 Consider up to 100 point discount for shareholders in some of the major banks and insurance companies.
8 My strategy is:If one buys the second hand, home and does some renovation, one might only need a smaller home loan.

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An Idea on the Melbourne house property boom? Why ?

Tim — Wed, 14 Apr 2010 04:21:20 +0000

Today, newspapers are reporting week after week of rising Melbourne home values and premiums achieved at auction. What does it all mean ?

1 The population of Melbourne is booming, growing at 1800 a week.

2 This is considered to be double that of only five years ago.

3 Builders are having difficulty finding finance. They are not building enough to meet the house demand.
4 The changed FIRB {Foriegn Investment Review Board} guidelines for foriegn buyers, has allowed a sudden rise is in overseas buyers. In some areas, these new buyers can account for up to one third of all buyers. This is having a disproportionate effect at the public auction sales.

5 Why is Melbourne so popular? Well all the factors we have always know are becoming more important. Melbourne has great tertiary education institutions, and compared to Sydney, stronger State government leadership!, better public transport {Melbourne is to build several new train stations}, much cheaper land, better hospitals, easier roads congestion and great beaches. I argue there is major interstate immigration from other Australian states. This will take time to be confirmed with government statistics. Then we will be increasingly, be made aware, just why so many Sydney developers including FKP, Devine, Mirvac, Lend Lease, have moved their emphasis of land and homes development to Melbourne.
6 One can still buy a brand new 3 Bed room brick home for around $ 310,000, in Carrum Downs, Skye, Pakenham, Wyndhan Vale, Melton or Tarneit, where similar in Sydney would be $600,000.

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Ideas for First Home property buyers Grants,What,where,How?

Tim — Thu, 18 Mar 2010 05:22:36 +0000

I am asked often about these First Home addition Grants. They are subject to change, below I detail my current understanding.
The First Home Buyers grant is in my view a partial return of the GST tax, which has super charged the cost for developing home blocks and new homes.
The USA based bank credit crisis, has encouraged the Australian government to expand the scheme. The Grant is currently $18,000 still available until 30/06/2010, in the metropolitan area. The scheme has been a great success, especially in Victoria, with close to 54,000 grants made. In addition, several major builders like Metricon, Henley, Simonds, National Builders Group, Orbit, Dennis Family Homes have made their own, new home buyer boosted value packages. These are a massive extra benefit. Despite a reduction in hte grant buyers appear to be scrambling to buy now before the grants are cut again.
First home buyers have been temporarily advantaged by these home grants.
So much more information at www.sro.gov.au
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Whats up about house investment property interest rates ?

Tim — Tue, 09 Mar 2010 12:04:45 +0000

Given the Reserve bank has raised rates again, whats likely in the future? Lets read the RBA summary, basically they are increasing optimistic into the future. Let us remember its an election year. There are many key state elections before a federal election. Thus the temporary Government stimulus is only going to be withdrawn gradually.
More of the same unfortunately, with coking coal agreements up 80% on last year and the “spot” market for iron ore up 300% , on last year. The iron ore agreements are not yet released. The steaming coal agreements are also likely to be up strongly. It is increasingly looking like a two speed economy, stronger for the mining areas and flat for the rest. Minerals and coal are Australia’s key exports, both in value and rising volume terms.

The futures markets give probably the best indication for interest rates, expecting a rise of around 100 basis (1%) points over this year. The interest rates risks might be seen as upside, especially if the USA economy starts to recover! There is even early talk of potentially an “overheating ” effect in the Australian economy within three years.What would a prudent man do? Potentially fix a portion of loans and keep a portion variable. This way if interest rates soar one is slightly protected. If rates fall and one has a windfall gain, one can pay off a portion of the loan without penalty.
Consult your advisor.
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Where is the Home Property Market going right now?

Tim — Mon, 22 Feb 2010 00:14:07 +0000

Well talk about confusion!
Never seen so much smoke and mirrors:plenty of countervailing currents here. Many reports say a home in Sydney and Melbourne are amongst the worlds most unaffordable compared to income. Interest rates are on the rise. More land is released on the fringes of Melbourne. Some of the First Home grant incentives are being wound back.
Mark Armstong, CEO of Property Planning Instiute says, The use of Median figures, as indicators of affordability greatly over simplifies the property market. A Sydney home appparently ranks second most unaffordable compared to incomes right behind Vancouver.
AMP’s Economist, Oliver says continued “under building” of around 45,000 to 50,000 homes a year. ANZ Bank is also very optimistic, for the home market. What can it all mean?

Lets keep it simple. I argue, if Australia is raising interest rates this will be only be after careful consideration of the world economic data. We simply cannot afford a slowdown or recession in an election year. In the USA, current data and reports suggest interest rates will remain low for the foreseeable short term future. Thus, I say interest rates are a likely laggard. If Australia continues to grow, as seems likely, there will be more numbers of people employed and for longer hours, thus leading to higher family incomes. Latest figures show some extra 160,000 employed in the last 6 months. I prefer to see the home market as “prices up side risk”.
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