Many people are aware of their home equity but do not understand very well how it is calculated and its other uses. Basically, equity is the difference between a property’s current market value and the outstanding balance of any debt held against it. It is an asset from a homeowner’s point of view and it can increase over time as the property value rises and the loan balance is paid off. Only when …
What is Passive vs Active investing?
Investing in real estate is one effective way of building wealth and establishing a property portfolio moving into the future. There are two basic types – active and passive. Regardless of the type of property investing you are doing, each method requires time, knowledge and skills in order to reach your goals and maintain a stable real estate portfolio. Active Investing There are property …
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First Homebuyers in Melbourne Need 5 Years to Save for a Home Deposit
Buying a house in Melbourne is still a huge challenge for many young people. A new report shows that young Melburnians are more likely to take five years to save for a deposit to buy a home in the cheapest suburbs. The report released by the Domain Group looked into the entry-level prices of homes in Melbourne's most affordable areas. It also took into consideration the average wage data from …
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Reserve Bank Retains Current Official Interest Rate of 1.50%
The Reserve Bank of Australia today left the current official cash interest rate unchanged at its historic low level of 1.5 percent. An earlier survey showed most respondents predicting the current rate to be kept on hold. In his monetary policy statement earlier, RBA Governor Philip Lowe noted that "global economic expansion is continuing, a number of advanced economies are growing at an …
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Top Things Buyers Look For In A Property
Homebuyers differ in the things they look for when buying a property. Some families prefer flat homes with a backyard while some prefer a two-level property. There are young couples who like to live near the beach with views of the water while the others opt for an apartment near the city center. The latest data from Realestate.com.au shows the top five things buyers look for when searching for …
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Is A Paperless Real Estate Transaction Possible Today?
In today’s digital age, a paperless transaction is indeed possible even in the real estate industry. The introduction of new laws which now allow electronic contracts and signatures has made the conveyancing portion of the transaction much easier and faster. With digital technology, home buyers and sellers can save time and avoid loads of paperwork in pursuing their real estate …
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Reserve Bank Keeps Current Official Interest Rate of 1.50%
The Reserve Bank of Australia today decided to keep the current official cash interest rate at its historic low level of 1.5 percent. An earlier survey by Reuters showed 47 out of the 48 economists predicted the rate would remain unchanged. In his monetary policy statement earlier, RBA Governor Philip Lowe noted the strong global and local economies, the growth experienced by several advanced …
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What Is Electronic Conveyancing and What Are Its Benefits?
Real estate transactions often involve a large volume of paperwork. Contracts alone can already have hundreds of pages and each contract needs to be provided in two copies. This often results in a high cost of printing, scanning, filing and archiving of documents. Fortunately, paperwork today can be avoided by homebuyers and investors through electronic conveyancing. Thanks to digital …
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What Are The Legalities Required When Renovating A Home?
Before starting a home renovation project regardless of its scope, it is a must for homeowners to know the legalities involved. Failure to do so can mean trouble. It could mean your renovation being stopped or pulled down. To start with, do check your local council for any approvals that may be required for a home renovation. Do keep in mind that certain minor structures may need building …
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Lending Restrictions for Property Investors To Be Scrapped
The Australian Prudential Regulation Authority (APRA) will soon remove a lending restriction for property investors. APRA chairman Wayne Byrnes recently said the 10 percent limit on bank lending imposed in 2014 would be scrapped. The lending restriction along with the limit on interest-only lending were meant to strengthen major bank balance sheets and limit the flow of speculative money into …
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