Home Loans & Mortgages

THE Federal Government has urged the states to cut stamp duties on conveyancing and to release new land for development to make housing more affordable. Commenting on a report released yesterday that showed housing affordability had fallen to a 22-year low, acting Treasurer Peter Dutton said that in 2005/06 the states collected $10.8 billion in [...]

Being turned off by credit problems that are easily fixed
Credit is getting harder to get for all applicants and especially for credit impaired. If you are a first home buyer and have credit impairment, you will need a bigger saved deposit and strong present income as a given. You may also be better off using a mortgage broker to get the loans that suits your credit profile. Obviously if the mortgage broker knows this profile it will make their job so much easier.

Melbourne, Victoria’s capital, now has 17 one million-dollar suburbs, which is more than double the number at the start of the year. Has the property market dipped in Melbourne this year, or is buying a home in melbourne and waiting for its value to reach $1 million, still the easiest way to become a millionaire, with a [...]

Don’t buy a new home as your first home.
If you were buying a home 10 years ago, this would not make sense. But things are different today. Land prices are killing new home sales and only people that have made equity in the first home can build new today.

So my first advice to you is to buy a bargain established home. There are plenty to choose from and they are below replacement cost. You get more for less, and in less time.

As Victoria’s housing  values have plummeted about $40 billion in the past six months, we need to ask why it is such a bad thing. Afterall the Sharemarket has corrections all the time, so why do we expect the real estate values to climb relentlessly without having the same laws of the market apply.  Let’s [...]