THE average new mortgage in Australia has hit an all-time high of $367,000 according to mortgage broker Australian Finance Group.

But Queenslanders have been more conservative than the rest of the country, with the average new mortgage in Queensland sitting at $325,000.

The average home loan in New South Wales is now $433,000; in Western Australia it is $391,000 and $386,000 in the Northern Territory.

Australians have been increasingly taking on bigger mortgages, with the average new home loan 6.4 per cent larger than it was in May 2009.

Queensland bucked this trend, however, with new mortgages taken out in November $10,000 smaller than the previous month and close to the state’s January low of $323,000.

Home loans in both Victoria and New South Wales grew since May – up 12.1 per cent and 10.7 per cent respectively.

The news comes after the Reserve Bank of Australia announced on Tuesday that it was lifting the official cash rate for the third successive time.

The latest 0.25 per cent rise, when passed on by lenders, will cost home-owners with a $367,000 mortgage on a standard variable rate an extra $56 a month, while those slugged with a 0.45 per cent rate hike face an increase of $102 per month.

First-home buyers accounted for just 13.7 per cent of all new mortgages in November, down from their peak of 28.1 per cent in March.

Investors have been steadily returning to the property market over the past four months and represent a third of all new mortgages in November.

Of those who took out a new mortgage in November, only 2.1 per cent opted for a fixed-rate, down from 3 per cent the previous month.

Total numbers of new mortgages were lower than previous months.

Mark Hewitt of Australian Financial Group said: “October and November are seasonally strong months in the calendar, but we’ve seen two straight months of decline.

“Larger average mortgages and greater activity by investors are usually signs of a confident market but confidence is still fragile.

“We believe the RBA hiked rates too quickly and too soon.”

Source  :  www.thenews.com.au

Wholesale prices for houses in San Gabriel Valley, CA. Ideal for investors, rehabbers, and end users. Visit: www.WeSellHousesInSanGabrielValley.com today

There’s a lot of talk today about our financing. Yesterday we closed a significant round of funding with an investor that we’re excited to publicly thank: Punch Rolitos.

It was important to us that we find investment partners who share our vision for building a company of enduring value. FoodPunch’s journey has just begun and we are committed to building the best customer service and company possible. I’m proud of the team we’ve built so far and I’m confident in the future we’ll build together.

Posted by Krishnan, CEO.

Short Sale Pre-foreclosure homes in South Carolina…

We are working with Sellers and the Banks to LIQUIDATE Properties.

The Banks are requesting that all Buyers bring their highest and best offers.

*** 119 Springfield Road, Beaufort, SC 29907: 3 bedroom, 2 bath, 1200 sq. ft.

PRE-FORECLOSURE SHORT SALE LIST PRICE: 59,900, Bank Owed: $123K

*** 115 Persimmon Circle, Goose Creek, SC 29445: 3 bedroom, 2 bath, 1300 sq. ft.

PRE-FORECLOSURE SHORT SALE LIST PRICE: Best Offer Over $60K, Bank Owed: $123K

*** 53 Rivers Point Row, Charleston, SC 29412: 3BR, 2.5BA, 1850 sq. ft., Great 1st and 2nd Floor Back Porches

PRE-FORECLOSURE SHORT SALE Minimum Bid: $150,000, Bank Owed: $183,000

*** 2494 Etiwan Avenue, Unit A11, Charleston, SC 29414: 2 bedroom, 1.5 bath, 921 sq. ft.

PRE-FORECLOSURE SHORT SALE LIST PRICE: $59,900, Bank Owed: $109K

*** 180 Alberta Drive, Woodruff, SC 29388: 3 bedroom, 2 bath, 1232 sq. ft.

LIST PRICE: Best Offer Over $70K, Bank Owed: $120K

*** 6348 Greenfield Drive, Spartanburg, SC 29303: 3 bedroom, 2 bath, 1152 sq. ft., Fantastic Pool with Newer Liner and Pool House

PRE-FORECLOSURE SHORT SALE LIST PRICE: Best Offer Over $70K, Bank Owed: $123K

*** 8852 Gable Street, North Charleston, SC: 2 bedroom, 2 bath, 950 sq ft.

PRE-FORECLOSURE SHORT SALE LIST PRICE: Best Offer over $75,000, Bank Owed: 118,000

BROKERS ARE PROTECTED. BRING YOUR CLIENTS TODAY AND EARN A COMMISSION.

PRE-FORECLOSURES, SHORT SALES, MUST SELL

 Fill out the online VIP Questionnaire at http://www.schomesellers.com/BuyAHome.cfm to get the lock box code to see the inside of the home. You can also call us at (843)881-7171.

NEED HELP QUALIFYING TO BUY THIS HOME? 
We can help get you financed. Just contact us and we’ll help you get into this great home. 

Would you like to see other available short sales? http://scwholesaleproperties.com/

Some say that real estate investing in today’s economy is a like taking a plunge to death.  You couldn’t blame them; they’ve seen retrenchments here and there and industries closing like clockwork. But now that the economy is officially and technically out of the recession, many feel that it’s going nowhere but up. This is the main motivation of those who are now into real estate investing.

Many experts say the worst is over and that positive numbers are being seen in various sectors of the economy, including in real estate. Property prices may be down at the moment but many believe that they will rise soon. Investors see this as the perfect opportunity to buy properties and make money. If property prices bounce back within months or in the next few years, they can already sell at high prices the real estate they bought today at bargain costs. Appreciation in this business may take years, or even decades but investors are hoping that the economic rebound will shorten the waiting period for the return in their capital.

Apart from the shorter waiting time, many are also attracted to real estate investing because of the many modes that are thriving despite the economic slump. They have many vehicles to choose from, including flipping houses. It is generally buying a property low and selling it high, fast.

Flipping houses is often used to refer to wholesaling, which is putting a property under contract and then assigning that contract to an end buyer. Wholesaling

Rehabbing is also hot nowadays. It was popularized as “fixing and flipping houses” by TV shows like “Flip This House” and “Flip That House. This is basically buying a cheap property and then repairing and improving that house to raise its value. You will then sell it for profit.

These two modes of real estate investing are profitable in today’s market. As mentioned earlier, there are scores of cheap properties available nowadays anywhere in the country. The affordability of these properties presents a perfect opportunity for people to buy real estate as an investment.

Should you decide to try real estate investing, the best way to start is to invest in your knowledge first. If other investors are better than you in terms of capital, make education your leverage. Visit websites like rehab-real-estate.com and learn everything you need to know about real estate without having to leave your desk. is basically finding properties and prospective buyers and then profiting from it. Flipping houses is thriving amid harsher times because of the availability of cheap properties.

Market Perception Today

I had a recent email from a client, noting how she was unsure where the market was now or where it was heading. She commented that prices seem to be going up, and contemplated whether she should she hold off buying until the First Home Owner’s Grant (FHOG) reduces further and/or see if there is an impact of expected interest rate hikes?

I can only make comment of what I have seen in my patch of the woods, the East side of Brisbane. So let’s look at her first query – have Sellers increased their asking prices? Well, yes and no.

Up front it should be said if a property is priced to meet the market, it will sell. I have seen, even as of today, new properties listed at an attractive (or sensible) price, which I know will be snapped up quick.

I feel the problem with some new listings, is some Sellers have started to get a little greedy. That’s fine, I too would want to sell my house for as much as I could get, but if I wish to sell my house, I still have to meet the market. This principle will always remain no matter what the state of the market.

There has been recent press saying how the housing sector has bounced back extraordinarily well from the doldrums created by the GFC. I listed an article dated October 20 on this blog noting this very thing. Unsurprisingly, when a Seller sees this type of press, their eyes light up.

But first we need to look at where the press obtain their figures of growth? If it is via Government Departments (this is where database s such as PDS Live, RP Data gain much of their information) there will be a lag time. If a house sells in August, with processing time, the information may not reach a database until September to October. Keep this lag time in mind for the moment.

Personally I believe the turning point in the market was around July/August this year. Homes valued below $430,000 started to get picked up, and momentum increased. As properties in these lower brackets began depleting and confidence grew, Buyers started looking a little further up the price range and a ‘trickle up’ effect could be seen. However I haven’t seen this trickle up effect go much past the $550,000 bracket just yet.

Hence if the market was heating up in August, we hear about it in October (due to the lag time). Sellers start thinking it’s a Seller’s market and start upping listing prices.

Another interesting point I have noticed, is during this initial surge, the majority of interest was from Investors, not particularly first home buyers. They were certainly present, but the Investors seem to be the most active.

There will always be people who need to buy and sell property no matter what the market, due to external factors (say moving interstate for work) but Investors have the luxury of picking their mark. When they feel the market has bottomed out, they jump, as they of course wish to purchase at the lowest point to maximise their growth.

But have Investors interested in purchasing property already done so by now, and left the market, thereby reducing the Buyer pool for the Sellers just as they thought things were kicking along? I don’t think so.  I still have quite a number of Buyers on my Database looking for investment properties, but they are specific and know what the right price should be. If you are a Seller and list too high, you may get good numbers enquiring as there is still much interest out there, but there will be no offers, and your property will sit.

There is also the theory by some the FHOG has artificially increased the costs of lower price bracket property. Having had few come across my path, I can’t see Sellers asking that much more because of a perceived flood of easy cash in the system. It’s just not happening.

If there are several interest rate hikes, the market may slow, possibly for a short period, but I feel most people are sensible enough to acknowledge interest rates are incredibly low, and there will be expected movement up. This is of course assuming the RBA and Lenders don’t get silly.

I was speaking with the local Loan Market Mortgage Broker, Simon Winters, who said his market felt the likelihood of interest rate increase in December was 50%, where everyone was saying 75% just a few weeks earlier.

Sellers pricing sensibly are selling quick as there is still much interest in the market. But list high and you will struggle for an offer. There are still plenty of keen Buyers out there, Investors and some new home buyers getting in before the FHOG reduces. Interest rates don’t appear to be making any dent. Similarly for Buyers, there are still many properties correctly priced in a market which appears to have recovered from the GFC. I don’t see a return to the 2007 times (which is a good thing) so all in all, at present, it is probably a reasonably equitable market.

Please feel free to leave a comment. Perception, by its nature, is an individual thing, so I am always interested in other people’s thoughts.

The number of high end luxury homes entering foreclosure is increasing rapidly. And yet, there’s a little known secret most real estate and short sale investors don’t know about.

Here is the secret:

Lenders are highly motivated to approve luxury home short sales faster and at deeper discounts because it hurts their financial statements to have these big mortgages in default on their books. Their Wall Street investors don’t want to see these big mortgages in foreclosure on their books.

That means you acquire these homes well below wholesale prices and you flip them to end buyers quickly below market value and keep a 10%-20% of the sale price (using none of your own cash or credit because they’re short sales).

For a $1,000,000 home, that means your profit is $100,000 – $200,000. Million dollar homes are all over the place right now and the number of luxury homes entering foreclosure is increasing every day.  And the next wave of luxury homes that is coming between 2010 and 2012 has a ton of high end homes in it’s inventory, as long as you jump on them before the next guy does.

One of the causes behind all of the luxury home foreclosures is the evil Option ARM mortgage that was so prevalent just a few years ago. These high end homeowners got these Option ARM mortgages so they could afford their BIG houses. They were living well above their means and really couldn’t afford to buy these houses but they did anyway and now they are in BIG trouble.

Because the principal balance of an Option ARM loan increases every Month, and because home prices have declined significantly over the past 3 years, the banks have a BIG problem on their hands with all of these high end mortgages going into foreclosure.

I don’t need to tell you this, you see it every day on the news or in USA Today and your local newspapers.  But the good news is…

You can be the solution for these troubled banks and homeowners!

Register here while we still have some seats available:

https://www1.gotomeeting.com/register/763880025

Kent Clothier

Robert Kochanski

Visit us @ www.PropertyMacthMakers.net

There’s a lot of talk today about our financing. Yesterday we closed a significant round of funding with an investor that we’re excited to publicly thank: Punch Rolitos.

It was important to us that we find investment partners who share our vision for building a company of enduring value. FoodPunch’s journey has just begun and we are committed to building the best company offering the best customer service possible. I’m proud of the team we’ve built so far and I’m confident in the future we’ll build together.

Posted by Krishnan, CEO.

Bad credit mortgage refinancing is one of the most important factors for the economic collapse at the end of 2008 and early 2009 have been. This plunged the country into a sharp and severe recession. Banks and other financial institutions froze credit to all.

Whether it's to another bank, company or other entity or person, a good or bad credit, a loan is received.

Banks and other mortgage companies changein practice, not all activities relating to originating loans, refinancing home loans second mortgage loan modification on second mortgages or mortgage modification.

In fact, even people with good credit scores to learn about problems that far fewer people with bad mortgage loans. The days of refinancing a home mortgage with bad credit seemed to have passed.

Also of great importance was the effort to help FHA home loan.Also, the FHA loan modification process has been difficult as Fannie Mae and Freddie Mac, two enormous government support was influenced players in the industry hammering home mortgage almost to the brink of bankruptcy, it had not been for the timely, if somewhat unpopular government intervention in the capital markets.

To keep the economy back from the abyss, the government injected large amounts of capital into the economy and implemented an economic stimulus package to boost the economy.There are indications that this has worked.

Well, obtaining a home loan and refinancing are not just simple things that happen, they will be accessible again. Individuals can again enjoy refinance mortgage interest rate changes 2 Mortgages, fixed rate mortgage refinance and also agree that you have bad credit mortgage refinancing by stoic government actions.

I know a lot has been said about the extended tax credit. However there are still many people who are not aware that the tax credit was extended to all home buyers. The $8000 tax credit for 1st time buyers was extended. A $6500 tax credit for “repeat” home buyers was added. If you have owned a home 5 consecutive years out of the last 8 years, you  may qualify for $6500 tax credit. There are income restrictions. You also have to be under contract for your home purchase by 4/30/2010 and close on the home by July 1, 2010. For specific information – check out

https://www.remax.net/marketing/downloads/Lists/Downloads_Library/Tax_Credit_Repeat_Buyers.pdf

Yesterday, I was holding a public open house and a potential buyer dropped in that was not aware that the tax credit was available to non-1st time buyers. $6500 isn’t that much and may not be enough of an incentive for some buyers to make a move – but it will/or can cover the cost of new carpet, appliances, window coverings or replace some mechanicals in a home.  Combine the $6500 with low-interest rates and a great selection of homes – it makes sense to consider purchasing a home now.

These are just some of the buyers that may be eligible for the tax credit:    1)Seniors/retirees that are downsizing to another “primary” home, 2) investors that want to keep their existing home for a rental and purchase another home as their primary residence, 3) an individual that sold their home  in the last couple of years and is currently renting plus many other scenarios.  For more details, contact me anytime or also call your CPA to verify that you do qualify.

Spread the word to your family and friends that are considering a move.  April 30th will be here before we know it. 

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

Wheat Rises as Dollar Drop Boosts Outlook for U.S. Export Sales

Wheat Rises as Dollar Drop Boosts Outlook for U.S. Export Sales:

Wheat rose to a one-week high on speculation that prospects for U.S. exports gained because the dollar declined this month and as demand increased from investors seeking a hedge against inflation.

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Wheat prices also got a boost from concern that some U.S. growers were unable to plant winter crops because unusually heavy rainfall delayed the soybean harvest and hindered access to the fields.

U.S. shipments have lagged behind the year-earlier pace because of rising world stockpiles and because competing suppliers offered grain at lower prices.

Wheat also gained as speculative investors including index- and hedge-fund managers bought commodity futures that they deem to be undervalued, including wheat.

In Other major Commodity Update, there is information about Soybean Prices rising on surging Chinese demand for U.S. Supplies.

Soybean Prices Rise on Surging Chinese Demand for U.S. Supplies:

Soybean prices rose to a five-month high on surging demand for animal feed and cooking oil made from oilseeds shipped by the U.S., the world’s biggest producer and exporter.

From Sept. 1 to Nov. 19, U.S. export sales of soybeans rose 58 percent to 27.1 million metric tons (995.4 million bushels) from a year earlier, and China accounted for 62 percent of the total, government data show.

A drought this year in Brazil and Argentina, the largest shippers of feed made from the oilseed, boosted consumption of U.S. supplies.

U.S. sales of soybean meal from Oct. 1 to Nov. 19 surged 72 percent to 4.7 million tons from a year earlier, Department of Agriculture figures show.

Shipments of soybean oil have tripled.

Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

Nov. 30 (Bloomberg) — Individuals with more than $800,000 to invest plan to increase their property holdings because they foresee better long-term returns than from stocks and bonds, according to a Barclays Plc global survey.

Twice as many people plan to raise their investment in commercial and residential property as intend to reduce it, the Barclays Wealth unit said in an e-mailed statement today. The richer the individual, the greater the proportion of wealth is placed in real estate, the survey found.  – READ MORE (Bloomberg 11/30)

Sweden’s Scania and Vale Soluções em Energia S.A. (VSE) have signed a memorandum of understanding to collaborate on the development of new technology for ethanol- and gas-powered industrial engines for the Brazilian market. VSE is planning to develop and manufacture a series of single-speed engines for stationary operation using Scania’s basic engines as the starting point. The engines will be used for generating electricity and driving pumps and compressors in machinery, for example in the mining industry and agriculture.

“The Brazilian market for stationary engines in these segments is estimated at 3,000 engines per year, so a successful partnership between Scania and VSE has major commercial potential,” says Robert Sobocki, Senior Vice President and head of Scania Engines.

In addition to supplying basic engines, Scania – which has more than 20 years of experience with ethanol-powered engines – will contribute its expertise in testing and evaluating the new technology.

Vale Soluções em Energia is part of the Brazilian-based Vale Group, one of the world’s largest mining companies. VSE focuses on developing new technological solutions targeting the clean utilisation of coal as well as renewable fuels.

The memorandum between Scania and VSE was signed in the presence of Sweden’s Minister for Enterprise and Energy, Maud Olofsson, and her Brazilian counterpart, Minister of Mines and Energy Edson Lobão, who visited Södertälje at the weekend – among other things to learn more about how Scania is working to reduce the climate impact of its products.

Dubai always prided  itself with the positive coverage of international media about the Dubai feats starting with Burj Al Arab, then the Palm and the Burj Dubai. Not this time. International media is giving Dubai a hard beating and its debt default has not only affected the direct investors and the local banks, but also world stock markets for fear of another major downturn. This morning news coming from the USA says that the Dubai default has affected further the housing problems in the US and has driven the prices  down. Since the mention of the freeze of debts till May 2010 two days ago, international media are on Dubai’s case citing issues and possible doomsday scenarios for the emirate. While all this coverage touches upon the impact of such a default on the world markets and world investors and lending countries like the UK, France and the US, nothing has been said on what impact it will have on business in Dubai itself and the thousands of companies that are based here. For the past 11 months the emirate of Abu Dhabi has seen a major shift in terms of drawing a lot of Dubai based businesses looking for projects and being a part of the major projects Abu Dhabi is building, while Dubai has stayed  fairly quiet with hundreds of cranes along the horizon are standing still as if frozen in time.  Check this Huffington Post article for more details: http://www.huffingtonpost.com/2009/11/26/dubai-request-for-debt-st_n_371852.html