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Hello,
Its fascinating to watch developments in the Housing Market, or as I prefer to call it "The People Industry".
One of the Mortgage Insurers, Genworth, has just released their "Homebuyers Confidence Index" which indicates that 25% of Australians think that now is a good time to buy property. Issues around housing affordability and rising interest rates are having a negative impact on buyer confidence, as last years figures showed that more than 50% of Australians thought that 2009 was a good time to buy.
What this means is that "against the herd" investment opportunities will present themselves. The less people who think its a good time to buy, the more attractive the buying opportunities will become.
For those thinking of purchasing, Article 3 looks at how much deposit you might need and Article 2 covers many of the common questions posed by established buyers in 'Second Time Around.
Were also seeing competition in lending hotting up - a further sign that less lending is being done.
All lenders are looking for quality applications but theyre sending out mixed signals. Some lenders are coming out with special offers, and at the same time indicating they face significant funding pressures which could force a rise in rates above any movements made by the Reserve Bank. We have seen some downwards movement in fixed rates lately but with regards to how the next few months play out, there is still some uncertainty. However, this shouldnt stop you from acting should the right opportunity come along.
NEWS FLASH 1: We are thrilled to announce that there is an exciting new property management service opening shortly in Canberra. If you have investment property and would like to discuss property management, please contact Kathryn@mmo.com.au and shell be in touch.
NEWS FLASH 2: Anyone interested in finding out more about property investment - where to invest, how to invest, who can help you through the process, contact Kathryn@mmo.com.au for more information about the ACT Property Expo to be held on Saturday 18 September.
We hope you enjoy this newsletter and feel free to pass it on to family and friends.
Til next time,
Michael
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PO Box 236
MAWSON ACT 2607| Tel: | 02 62 866 501 | | Fax: | 02 62 866 509 |
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Spring Sales
Contrary to popular belief, spring is not always the best time to put your property on the market.
Many vendors favour selling in spring because gardens look good and sunshine encourages buyers out on inspection; however spring can also bring a flood of properties on the market. This means that competition is fierce and you will have to work hard to catch buyers' attention.
Read More >>
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Second time around
History rarely repeats itself and this is certainly true of buying a home second time around. As an established - or next time buyer - you have experience on your side but there are many new challenges to encounter that you may not have dealt with as a first home buyer.Here are the answers to the most commonly asked questions by next time buyers.
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How much Deposit?
It's possible to buy a home with very little deposit, but there are a number of reasons why it makes sense to save a decent deposit before you apply for a loan.The number one benefit is that you will have access to a broader choice of home loan options from a great variety of lenders. When assessing a loan application, lenders look at factors like employment history, income, loan amount and deposit as they want to know whether you can pay back your loan on time.
Read More >>
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Cool in a Crisis
All of us have suffered from stress at some point in our lives, but no one wants to feel stressed on a daily or weekly basis.A certain amount of stress is normal and actually prevents us from feeling dissatisfied and bored, but large amounts of stress usually have a destructive rather than a motivating influence. In addition to affecting our ability to make decisions, stress can result in any number of physical and emotional complaints, from headaches and backaches to depression and insomnia.
Read More >>
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Our Partners
MO'R MORTGAGE OPTIONS was admitted in mid 2002 as a full member of the Mortgage & Finance Association of Australia, the peak industry body.
All members are bound by a strict code of ethics to ensure the highest levels of service, integrity and professionalism.
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About Us
MO'R MORTGAGE OPTIONS - 2009 REIACT Mortgage Provider of the Year.
Michael has worked in the "people industry" as he calls it, i.e. Finance, Real Estate, Building & Construction for over 26 years. He established MO'R MORTGAGE OPTIONS in 2000 after realising that by assisting people to structure their loans correctly he could help others improve their financial health.
"There is no greater job satisfaction available than to know you can do something tangible to improve another human being's life."
... Michael
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Disclaimer: This newsletter is intended to provide general news and information only. Readers should rely on their own enquiries before making any decisions regarding their own interests. Please do not rely on any part of this newsletter as a substitute for specific legal or financial advice. All material is copyright 2010.
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