Moorooka #1 HOTSPOT for 2009.
Before we get down to the serious side of business, try this great recipe for a quick easy snack, morning, noon or night.
SUMMER TURKISH BREAD
12 slices of Turkish bread
3 large roma tomatoes,
quartered and deseeded
4 basil leaves, shredded,
2 tablespoons virgin olive oil
1 small salad onion finely chopped
Freshly milled pepper and salt to tast
Parmesan cheese, grated.
Heat oven to 180 deg and lightly toast bread slices.dice tomatoe's and place in bowl. Add basil, oil, finely chopped onions and salt and pepper, stir to combine. Spoon mixture onto the toasted Turkish bread and sprinkle with parmesan cheese. Bake in oven until golden brown and serve.
ENJOY.
Now down to business...
Key Brisbane Southside suburbs are listed in RP Data's 2009 Property Hotspots Report Predictions, proving the strength of the region's property market.
RP Data's leading property analysts - Tim Lawless and Cameron Kusher - delivered their forecast about 4 weeks ago to present opportunities in 2009 for new buyers and investors. The hotspots selection is based on 'strategic affordability' - homes with reasonable price tag that are well serviced by public transport, arterial roads and the necessary amenities such as shopping, schools and health care facilities - in both the housing an unit markets.
The Southside suburbs expected to be strong performers over the next 12 months include: SALISBURY, MOOROOKA, COOPERS PLAINS, and ROCKLEA in the housing market and ANNERLEY, GREENSLOPES AND STONES CORNER in the Unit market. These suburbs boast the characteristics sought out by buyers, offering also great parks, major shopping centres, restaurant precincts, quality schools, close to SE Freeway plus much more.
As you know we service all these area's and would be happy to have a chat with you if you are a Buyer or a Seller.
MORTGAGE TRAPS TO AVOID
Taking out a mortgage will probably be one of the most significant financial decisions you make in your lifetime. So make sure you understand just what you're getting into.
Fees
When it comes to home loans, fees can quickly add up. It pays to investigate just what upfront and ongoing charges you will be up for. Consider everything for the life of your loan from application costs and mortgage insurance to monthly, redraw and early exit fees. Lenders may charge an application fee of $600 or more, a valuation fee (often more than $300) and a loan settlement fee of $200 or so. Also, many lenders will insist on a mortgage insurance, especially if you are borrowing more than 80 percent of the value of your new home. This can cost as much as one percent of the loan amount.
There may be a fixed monthly fee or other charges relating to using the loan and depending on your contract, the lender may be able to increase these costs at any time. Early exit fees vary between lenders and come in different disguises, such as "deferred establishment fees". These fees become significant should you wish to pay off your loan or refinance with another lender. Always ask your potential lender for specific early-exit fees and cost. Remember, if you can negotiate to reduce any or all of these fees up front, it will help to reduce the size of your loan. If you aren't a good negotiator, you might want to use a morgage broker to help secure a better deal.
Redraw/extra payment limitations
Some loans will restrict you from making extra repayments into your mortgage account. This is significant in that any extra money you put into the loan will help to reduce interest and can have considerable tax advantages. Other loans allow you to make extra repayments but have limitations when it comes to redrawing that money. Check whether you'll be required to apply in writing, how long it might take for approval, and if there are any costs involved.
Honeymooon Loans
Borrowers should always be cautious when it comes to honeymoon loans. They may sound competitive and be so for the first six to 12 months of the loan, but you may end up with a rude shock when they revert to a much high rate that can eclipse the standard vaiable rate.
Interest Rates
Don't accept interest rates at face value - see if you can talk the lender into a lower rate. After all, any reduction can mean huge savings over the life of the loan. Also when it comes to fixing your interest rate, the biggest factor you need to be aware of is the high break costs should you wish to revert to a variable rate. This involves you having to pay for all the "lost" interest to the lender if you had paid the high rate through to the end of the fixed term and can add up to considerable amount of money.
Sign on the dotted line
And lastly, don't sign anything you don't fully understand. If you are in doubt, get independent legal or financial advice. Finding the right mortgage may take some time, but securing the right one for you can save a lot of money and stress in the long term.
SUMMER TURKISH BREAD
12 slices of Turkish bread
3 large roma tomatoes,
quartered and deseeded
4 basil leaves, shredded,
2 tablespoons virgin olive oil
1 small salad onion finely chopped
Freshly milled pepper and salt to tast
Parmesan cheese, grated.
Heat oven to 180 deg and lightly toast bread slices.dice tomatoe's and place in bowl. Add basil, oil, finely chopped onions and salt and pepper, stir to combine. Spoon mixture onto the toasted Turkish bread and sprinkle with parmesan cheese. Bake in oven until golden brown and serve.
ENJOY.
Now down to business...
Key Brisbane Southside suburbs are listed in RP Data's 2009 Property Hotspots Report Predictions, proving the strength of the region's property market.
RP Data's leading property analysts - Tim Lawless and Cameron Kusher - delivered their forecast about 4 weeks ago to present opportunities in 2009 for new buyers and investors. The hotspots selection is based on 'strategic affordability' - homes with reasonable price tag that are well serviced by public transport, arterial roads and the necessary amenities such as shopping, schools and health care facilities - in both the housing an unit markets.
The Southside suburbs expected to be strong performers over the next 12 months include: SALISBURY, MOOROOKA, COOPERS PLAINS, and ROCKLEA in the housing market and ANNERLEY, GREENSLOPES AND STONES CORNER in the Unit market. These suburbs boast the characteristics sought out by buyers, offering also great parks, major shopping centres, restaurant precincts, quality schools, close to SE Freeway plus much more.
As you know we service all these area's and would be happy to have a chat with you if you are a Buyer or a Seller.
MORTGAGE TRAPS TO AVOID
Taking out a mortgage will probably be one of the most significant financial decisions you make in your lifetime. So make sure you understand just what you're getting into.
Fees
When it comes to home loans, fees can quickly add up. It pays to investigate just what upfront and ongoing charges you will be up for. Consider everything for the life of your loan from application costs and mortgage insurance to monthly, redraw and early exit fees. Lenders may charge an application fee of $600 or more, a valuation fee (often more than $300) and a loan settlement fee of $200 or so. Also, many lenders will insist on a mortgage insurance, especially if you are borrowing more than 80 percent of the value of your new home. This can cost as much as one percent of the loan amount.
There may be a fixed monthly fee or other charges relating to using the loan and depending on your contract, the lender may be able to increase these costs at any time. Early exit fees vary between lenders and come in different disguises, such as "deferred establishment fees". These fees become significant should you wish to pay off your loan or refinance with another lender. Always ask your potential lender for specific early-exit fees and cost. Remember, if you can negotiate to reduce any or all of these fees up front, it will help to reduce the size of your loan. If you aren't a good negotiator, you might want to use a morgage broker to help secure a better deal.
Redraw/extra payment limitations
Some loans will restrict you from making extra repayments into your mortgage account. This is significant in that any extra money you put into the loan will help to reduce interest and can have considerable tax advantages. Other loans allow you to make extra repayments but have limitations when it comes to redrawing that money. Check whether you'll be required to apply in writing, how long it might take for approval, and if there are any costs involved.
Honeymooon Loans
Borrowers should always be cautious when it comes to honeymoon loans. They may sound competitive and be so for the first six to 12 months of the loan, but you may end up with a rude shock when they revert to a much high rate that can eclipse the standard vaiable rate.
Interest Rates
Don't accept interest rates at face value - see if you can talk the lender into a lower rate. After all, any reduction can mean huge savings over the life of the loan. Also when it comes to fixing your interest rate, the biggest factor you need to be aware of is the high break costs should you wish to revert to a variable rate. This involves you having to pay for all the "lost" interest to the lender if you had paid the high rate through to the end of the fixed term and can add up to considerable amount of money.
Sign on the dotted line
And lastly, don't sign anything you don't fully understand. If you are in doubt, get independent legal or financial advice. Finding the right mortgage may take some time, but securing the right one for you can save a lot of money and stress in the long term.
posted by Lyn Rowe at
14:41
1 Comments
