Happy Home Owner Bloghttp://www.choicefinancetownsville.com.au/blog/en-AU2010-02-09T02:03:12ZSquarespace Site Server v5.9.1 (http://www.squarespace.com/)Just For Laughshttp://www.choicefinancetownsville.com.au/blog/just-for-laughs.htmlDave Lamari2010-01-13T10:39:00ZJokesWhen Albert Einstein died, he met three Aussies in the queue outside the Pearly Gates. To pass the time, he asked what were their IQs. The first replied 190. "Wonderful," exclaimed Einstein. "We can discuss the contribution made by Stuart Thomas Butler to nuclear physics and my theory of general relativity". The second answered 150. "Good," said Einstein. "I look forward to discussing the role of Australia's nuclear-free legislation in the quest for world peace". The third Aussie mumbled 45. Einstein paused, and then asked, "So what is your forecast for the budget deficit next year?"

]]>Genuine Savings - VERY IMPORTANThttp://www.choicefinancetownsville.com.au/blog/genuine-savings-very-important.htmlDave Lamari2010-01-10T09:50:00ZBuying a Home First Home Buyers Home Loans Types of LoansBy Dave Lamari

Since the Economic crisis really took hold and banks began their panic, they have all taken on the strong requirement for Genuine Savings.

This requirement helps the bank determine your ability to 'knuckle down' and your general determination to own a home. As well as this it helps see you are including some 'skin in the deal', that is you have something to lose as well if you cannot make the payments.

Most banks now, with very few exceptions, require a savings of 5% of the purchase price. This needs to be made up of legitimate savings and cannot be made up of gifts, lump sums (selling a car etc) or borrowed funds (credit card draw) to name the main culprits. The only exceptions to this is if the contribution/gift/lump sum is very large and can make up around 10%-15% or more of the purchase price. That is because it leaves the bank with such a strong position (a lot of 'skin in the deal' from you).

As this is such a solid requirement for the banks these days, it is best to have a chat about these requirements. As always though, if you are not quite ready yet, I am more than happy to show you what you need to do to get there.

]]>First Home Owners Grant Changeshttp://www.choicefinancetownsville.com.au/blog/first-home-owners-grant-changes.htmlDave Lamari2010-01-03T13:15:00ZBy David Lamari

As promised, the government has now lowered the FHOG to the original $7000 for contracts entered into on or after the 1st of January 2010. This applies to both etablished and newly constructed dwellings.

There have also been some subtle changes to the FHOG application and some restrictions added (such as maximum purchase price per state, price of land component etc). For further detail, please don't hesitate to contact.

]]>Happy New Yearhttp://www.choicefinancetownsville.com.au/blog/happy-new-year.htmlDave Lamari2010-01-01T13:27:00ZGeneralAll the best for 2010!

Most signs are for a positive year. Not as much talk in the media about the 'Great Financial Who Haa' should help us all!

Happy days!

]]>Just For Laughshttp://www.choicefinancetownsville.com.au/blog/just-for-laughs-1.htmlDave Lamari2009-12-27T07:35:00ZJokesRecently a guy in Paris nearly got away with stealing several paintings from the Louvre. However, after planning the crime, breaking in, evading security, getting out and escaping with the goods, he was captured only two blocks away when his van ran out of gas. When asked how he could mastermind such a crime and then make such an obvious error, he replied: "I had no Monet to buy Degas to make the Van Gogh."

]]>Rates are on the way up...but why?http://www.choicefinancetownsville.com.au/blog/rates-are-on-the-way-upbut-why.htmlDave Lamari2009-12-20T09:32:00ZBy David Lamari

The is much talk now about the economy being on the 'up and up'. This is good, but the downside is that the unseasonably low interest rates that we enjoyed for much of 2009 will have to turn around.

This was always going to happen and is to be expected. Many mortgage holders took advantage of the lower rates by leaving their repayments on hold from the higher rates, therefore getting ahead in their payments.

There are however other strategies to tackle repayments if they are to become unmanageable and the sooner you act the better. This is something I am always happy to discuss.

]]>Fixed or Variable Home Loan, What Should I Do?http://www.choicefinancetownsville.com.au/blog/fixed-or-variable-home-loan-what-should-i-do.htmlDave Lamari2009-10-29T07:35:48ZBuying a Home Dave lamari Fixed Home Loans Home Loans Interest Rates Switching Loans Variable Home LoansBy Dave Lamari

Recently I have had many a question asked on whether it is best to fix or go variable.

Earlier in the year this was a little easier to answer as rates were still relatively low on both fixed and variable.

Recently the variable rates have started moving up of the most recent Reserve Bank decision and their ‘rhetoric’ is definitely along the lines that it will increase even further.

Fixed rates on the other hand have actually been moving upward for a few months now and it is safe to say they will continue in line with the trend of the variable.

In short this means, similar to what I say to most clients for some time. If you wish to budget and be sure you will know what your repayments are, on a particular loan size, fixing is the only way to be sure.

That is, fix to budget, try not to fix to beat banks at rate rises.

Perhaps a split loan (part fixed and part variable) will give you the combination of the flexibility of a variable and the security of a fixed.

If you have any questions on fixed or variable home loans, please give me a call... (07) 4723 8077

]]>First Home Owners Grant – Current Statushttp://www.choicefinancetownsville.com.au/blog/first-home-owners-grant-current-status.htmlDave Lamari2009-10-28T07:56:00ZDave lamari First Home Buyers First Home Owners Grantby Dave Lamari

From the 1st of October to the 31st of December the first home owners grant will change to $14000 for a new home and $10500 for an established home.

It is anyone’s guess as to whether these will be extended after this.

The government’s current position on this is that both will simply drop to the original $7000 (i.e. the ‘boost’ will stop).

If you have any questions please give us a call... (07) 4723 8077

]]>Just For A Laughhttp://www.choicefinancetownsville.com.au/blog/just-for-a-laugh.htmlDave Lamari2009-10-27T07:49:00ZJokesA mother was working in the kitchen, listening to her five-year-old son playing with his new electric train set in the living room.

She heard the train stop and her son saying, 'All of You b*****ds who want off, get off now, 'cos we're in a hurry! And all of you b*****ds who are getting on, get on now, 'cos we're going down the tracks'.

The horrified mother went in and told her son, 'We don't use that kind of language in this house. Now I want you to go to your room and stay there for TWO HOURS.
When you come out, you may play with your train, but I want you to use nice language.'

Two hours later, the son came out of the bedroom and resumed playing with his train. Soon the train stopped and the mother heard her son say, "All passengers who are disembarking the train, please remember to take all of your belongings with you. We thank you for traveling with us today and hope your trip was a pleasant one."

She hears the little boy continue.

"For those of you just boarding, we ask you to stow all of your hand luggage under your seat. Remember, there is no smoking on the train. We hope you will have a pleasant and relaxing journey with us today."

As the mother began to smile, the child added..........

"For those of you who are pissed off about the TWO HOUR delay, please see the fat controller in the kitchen."

]]>Interest Rates and The Economyhttp://www.choicefinancetownsville.com.au/blog/interest-rates-and-the-economy.htmlDave Lamari2009-10-26T07:42:00ZDave lamari Fixed rates Interest Rates Interest rates property rent stimulus By Dave Lamari

There are many signs in the economy now pointing towards rates moving a little more aggressively than first thought.

The common belief is that this will be in the order of 1 – 1.5% in the next 12 – 18 months. The fixed rate movements are anyone's guess, but it is safe to say that if the variable rates are higher in 12 months, the short term rate son the fixed side will move accordingly.

Movements in variable rates have finally started and there are signs that this will continue at least in the short term (the Reserve Bank Governor is stating this quite clearly, rather than ‘double talking’ around it).

Fixed rates – These will follow (or lead) suit with Variable rates. These are not directly looked at by banks in line with Reserve bank moves, but rather moved as banks please and normally align with other banks in the interest on competitiveness.

Property and Rent prices – As with 18 months ago, there are signs that what effected rent and property prices back then (interest rate increases, inflation etc) are soon to re-enter the economy. This however does include a positive side. Rates are moving due to signs of a strengthening economy and with that normally comes better public sentiment and jobs growth (and maybe property price growth J).

Too Much Stimulus? - http://www.eurekareport.com.au/iis/iis.nsf/lpages/RWIE-7N92AE?opendocument

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