Latest Property News from Ted Hanson

THE OBSTACLE IN OUR PATH In ancient times, a king had a boulder placed on a roadway. Then he hid himself and watched to see if anyone would remove the huge rock. Some of the king's wealthiest merchants and courtiers came by and simply walked around it. Many loudly blamed the king for not keeping the roads clear, but none did anything about getting the big stone out of the way. Then a peasant came along carrying a load of vegetables. On approaching the boulder, the peasant laid down his burden and tried to move the stone to the side of the road. After much pushing and straining, he finally succeeded. As the peasant picked up his load of vegetables, he noticed a purse lying in the road where the boulder had been. The purse contained many gold coins and a note from the king indicating that the gold was for the person who removed the boulder from the roadway. The peasant learned what many others never understand. Every obstacle presents an opportunity to improve one's condition. 1. One in four work from home: ABS Almost a quarter (2.4 million) of people employed in November 2008 worked some hours at home in either their main or second job, according to figures released this week by the Australian Bureau of Statistics (ABS). 'Catching up on work' was the main reason given, by over one-third (34 per cent) of people who worked at home in their main or second job, followed by 'wanting an office at home/no overheads/no rent' (22 per cent of people). Read More... Almost a quarter (2.4 million) of people employed in November 2008 worked some hours at home in either their main or second job, according to figures released this week by the Australian Bureau of Statistics (ABS). 'Catching up on work' was the main reason given, by over one-third (34 per cent) of people who worked at home in their main or second job, followed by 'wanting an office at home/no overheads/no rent' (22 per cent of people). Men who worked some hours at home were most commonly managers or professionals (both 31 per cent), followed by technicians and trade workers (18 per cent). Women who worked some hours at home were most likely to be professionals (39 per cent) followed by clerical and administrative workers (23 per cent). The figures show that around one in every twelve employees (764,700 people or 8 per cent) worked more hours at home than any other single location in their main or second job. Of these people: The majority (83 per cent) were aged 35 years or older 55 per cent were women 39 per cent were in families that had children aged under 15 years old The main reason for working from home was 'wanting an office at home/no overheads/no rent' (37 per cent), followed by 'operating a farm' (21 per cent) and 'flexible working arrangements' (15 per cent) 31 per cent worked 35 hours or more at home in all jobs. The proportion of employed people who worked only or mainly at home in their main or second job remained unchanged from November 2005 to November 2008 at 8 per cent. People who were owner-managers in their main job were much more likely to use their own home for their main location of work (27 per cent of the 1.9 million owner-managers) than employees (1.4 per cent of the 8.2 million employees). Women who were owner-managers in their main job were more likely to use their own home for their main location of work than male owner-managers (45 per cent compared with 18 per cent). The survey collected further information about the number and types of locations of work. Of the 10.1 million people at work in November 2008, 41 per cent worked at two or more locations in their main job. Top 2. Drop in land prices improves affordability New homes are becoming more affordable, with median land prices across Australian capital cities falling 1.5 per cent in the December quarter, according to the latest residential land report from building association HIA and property information and analytics provider RP Data. HIA Chief Economist, Dr Harley Dale said the modest drop in median land prices in a number of markets across Australia was playing a part in making new homes much more affordable. Read More... New homes are becoming more affordable, with median land prices across Australian capital cities falling 1.5 per cent in the December quarter, according to the latest residential land report from building association HIA and property information and analytics provider RP Data. HIA Chief Economist, Dr Harley Dale said the modest drop in median land prices in a number of markets across Australia was playing a part in making new homes much more affordable. The HIA-RP Data Residential Land Report shows the price of raw land in Australia's capital cities was slightly higher than regional areas. The capital city median price fell 1.5 per cent to $182,718. The most expensive city was Sydney with a median price of $250,000. The most affordable capital city was Hobart, with a median price of $135,000. "The price growth in raw land for new residential development was unsustainable and it is pleasing that we have had some modest reductions," Harley Dale said. "The recent decline follows an appreciation of 111 per cent over the past eight years, so we are hardly talking about a major correction." RP Data National Research Director Tim Lawless said that despite the modest fall during the December quarter, Australian land prices have been resilient to any material falls. "Over the 12 months capital city land prices have actually risen, which is in contrast to the housing market where values fell by 2.9 per cent over the 2008 calendar year," Mr Lawless said. "The improvement in housing affordability together with a demonstrated stabilisation of housing prices during the first quarter of 2009 should boost confidence among both buyers and developers. Australian population growth is at record levels while housing construction remains constrained creating a widening gap between housing demand and supply." HIA expects that further easing in median land prices combined with very low mortgage rates, stable construction costs, and the boosted First Home Owner Grant will continue to make house and land packages an appealing option for some months to come. Top 3. $564 million just waiting to be claimed As difficult economic conditions continue around the globe, there has never been a better time for Australians to make their claim on a share of $564 million. In the current financial year to April 2009, Australians have made their claim on over $40 million. But over 645,000 Australians could claim their part of a lot more than that right now, according to the Australian Securities and Investment Commission. Read More... As difficult economic conditions continue around the globe, there has never been a better time for Australians to make their claim on a share of $564 million. In the current financial year to April 2009, Australians have made their claim on over $40 million. But over 645,000 Australians could claim their part of a lot more than that right now, according to the Australian Securities and Investment Commission. ASIC said the money currently owed to individuals and businesses ranges from $1.00 to over $990,000, which is the amount sitting in an unclaimed Commonwealth Bank account in Western Australia. The largest amount already claimed this financial year was more than $3.1 million from a deceased estate. ASIC's Senior Executive Leader - Consumers and Retail Investors, Delia Rickard encourages people to search for their unclaimed money which could be found from banks, credit unions, building societies, life insurance companies and friendly societies. `Searching is free and there's no cost involved in claiming your lost money - the only thing you need to do is provide proof that the money is yours or you are the beneficiary', Ms Rickard says. Australians searching for forgotten money can do so by logging onto ASIC's free online database at www.fido.gov.au and typing in their name. ASIC encourages anyone who thinks they might be entitled to unclaimed money to contact the Infoline directly on 1300 300 630 or email infoline@asic.gov.au during business hours. `However it is important to remember that there is some information we're unable to publish online for privacy reasons, so if people don't have any luck online they should ring ASIC's Infoline and speak to one of our customer service consultants,' Ms Rickard said. They will be able to conduct a comprehensive search for forgotten funds, including unclaimed money from shareholdings where the company has been unable to contact a shareholder, old bank accounts and forgotten insurance policies. For more information about unclaimed money, go to http://www.fido.gov.au/unclaimedmoney. Top 4. Never enough tradies The latest HIA-Austral Bricks Trades Report indicates that despite the drop in building activity skill shortages for many trades remain across Australia. Read More... The latest HIA-Austral Bricks Trades Report indicates that despite the drop in building activity skill shortages for many trades remain across Australia. Even with significantly reduced building activity over the last twelve months, trade availability on a national basis has only seen a very modest improvement over the first quarter of 2009 with many trades still in short supply. According to the report, trade availability improved in the March 2009 quarter, from -0.06 to -0.05, meaning trades were still in short supply. Top 5. I've been framed! There's no doubt that pictures look better when framed - whether it is photos of loved ones, an expensive masterpiece or the kids' artwork - yet current economic conditions have left many of us with little spare cash for such luxuries. With functionality and cost effectiveness in mind, a Dutch designer has come out with Do Frame Tape, a self-adhesive vinyl tape with an ornate picture frame design printed on it. The generous roll means you can easily and cost effectively frame paintings, photos, artwork and posters, create a grand feel by framing light switches and power points. Or maybe even give your home an original boost by framing an empty space in which the kids can put up art or pose creating their own living installations. Top 6. Unpaid bills thorn in Mafia princess's paw Crime never pays, so someone else usually ends up footing the bill. This is a lesson that Mafia princess Victoria Gotti - daughter of mob boss John "Dapper Don" Gotti - is learning, as she faces losing her palatial home in Long Island, New York over unpaid loan repayments, the New York Post reported recently. The former reality-TV star owes nearly NZ$1M for a mortgage loan on the $6.8M mansion that became famous in the show "Growing Up Gotti." Victoria took possession of the home during divorce settlement with her ex-husband in 2005. She claims her ex secretly took out a near $1.4M loan in 1997 without her knowledge and has left her to foot the bill. The home is currently on the market for over $2.5M less than the previous asking price.

Latest Property News from Ted Hanson

Friday 22 May 2009 ~Dance Like No One's Watching~ We convince ourselves that life will be better after we get married, have a baby, then another. Then we are frustrated that the kids aren't old enough and we'll be more content when they are. After that we're frustrated that we have teenagers to deal with, we will certainly be happy when they are out of that stage. We tell ourselves that our life will be complete when our spouse gets his or her act together, when we get a nicer car, are able to go on a nice vacation, when we retire. The truth is there's no better time to be happy than right now. If not now, when? Your life will always be filled with challenges. It's best to admit this to yourself and decide to be happy anyway. One of my favorite quotes comes from Alfred D Souza. He said, "For a long time it had seemed to me that life was about to begin -real life. But there was always some obstacle in the way, something to be gotten through first, some unfinished business, time still to be served, a debt to be paid. Then life would begin. At last it dawned on me that these obstacles were my life." So, Work like you don't need money. Love like you've never been hurt and Dance Like no one's watching And remember..........Happiness is a journey, not a destination and that time waits for no one. 1. Housing finance jumps Australians are again borrowing to buy homes, according to the latest figures released by the Australian Bureau of Statistics (ABS). March 2009 housing finance figures show that demand for mortgages across all major categories, especially for owner-occupiers, first homebuyers and the construction of dwellings, continues to show solid growth. Read More... Australians are again borrowing to buy homes, according to the latest figures released by the Australian Bureau of Statistics (ABS). March 2009 housing finance figures show that demand for mortgages across all major categories, especially for owner-occupiers, first homebuyers and the construction of dwellings, continues to show solid growth. There has been solid improvement in growth since October 2008, with the value of loans for owner occupiers rising by a large 7.3 per cent whilst the number of dwelling commitments for the construction of dwellings was up by an impressive 13.9 per cent. The number of first homebuyer commitments as a percentage of owner-occupied commitments rose to a record 27.3 per cent. In fact, the number of first homebuyer commitments for the month, at 17,652, showed a 100 per cent increase on the 8,818 who entered the mortgage market in August 2008. The March data also showed a re-emergence of investor interest, which increased for the first time since December 2008. The value of investor housing fixed-loans commitments increased by 4.7 per cent. A number of commentators had not expected this to happen until later in the year. The overall value of housing finance commitments for all dwellings rose for the fourth month in a row, by 6.7 per cent. During the previous month, February, it had risen by 1.3 per cent. Mortgage Choice CEO Michael Russell remarked this week that the March ABS figures demonstrate the resilience of our housing market at a time when the global economy is really feeling the brunt of the financial crisis. "The strong growth we see in the results also demonstrates the positive effect of Federal and State Government stimulus and incentives, which have combined with other positive factors - very low interest rates, relatively steady housing prices, improved housing affordability and healthy population growth, along with increasing rents and historically low rental vacancies rates - to create a 'buyer's market'," Mr Russell said. "The number of housing finance commitments by first homebuyers as a percentage of the all owner occupied commitments for March was 27.3 per cent, setting a record as the highest proportion since the first homebuyer series commenced in 1991." This compared to the previous record set in February of 26.9 per cent, which was an increase on 26.5 per cent in January, 25.7 per cent in December and 23.6 per cent in November. "The number of first homebuyers jumped to 17,652, which is a 23.3 per cent increase on February's figure (14,321) and a 100 per cent increase on the 8,818 we saw enter the mortgage market in August 2008, before interest rates began to fall rapidly and Government stimulus measures were applied," he added. Loans for the construction of dwellings grew 13.9 per cent (compared to 2.6 per cent in February) and for the purchase of new dwellings (up 8.8 per cent, from 4.2 per cent in February) also showed significant improvement, as did demand for loans for the purchase of established dwellings (up 3.8 per cent, following 0 per cent in February). "The March figures - showing positive growth across all categories - are fantastic news for those with their eye on the economy and more specifically the housing market," Russell concluded. Top 2. Extended welcome The decision announced in the Federal Budget to extend the boosted First Home Owner's Grant has been welcomed by housing industry bodies around Australia. The boosted grant, which was increased in October 2008 to $14,000 for existing homes and $21,000 for new homes, was due to end on 30 June 2009. Read More... The decision announced in the Federal Budget to extend the boosted First Home Owner's Grant has been welcomed by housing industry bodies around Australia. The boosted grant, which was increased in October 2008 to $14,000 for existing homes and $21,000 for new homes, was due to end on 30 June 2009. The extension means it will continue in its current form until the end of September, when the grants will be lowered to $10,500 for existing homes and $14,000 for new homes for a further three months. From January 2010 it will return to a flat rate of $7,000. The Real Estate Institute of Australia (REIA) commented that the Government had made an accurate and overall assessment of the property market in their decision to extend the FHOG Boost for a further six months. REIA President David Airey said the sale of existing homes is just as important as the sale of new homes to stimulate the economy. "This decision will benefit the property industry greatly and have tremendous flow-on effects to those in the business of servicing the property industry such as solicitors, conveyancers, financiers, valuers, removalists, furniture suppliers and a range of trades people," Mr Airey said. Housing Industry Association's Ron Silberberg said that given the long lead times on major infrastructure projects, it makes sense to utilise the housing industry to kick-start economic activity. "Most of the spending on housing will take place over the next year," Mr Silberberg said. "The Budget also recognises the need to invest in skills in the down time so that there will be a greater availability of people with employable skills when the recovery takes hold," he said. Robert Caulfield, Managing Director of Archicentre said home ownership not only underpinned the economic status of the housing industry but needed to be seen as a long term investment in social and health infrastructure for Australian families. "Despite the tough economic conditions ahead there are a number of fundamentals underpinning the value of the Australian property market including strong demand and historically low interest rates," Mr Caulfield said. Archicentre has seen an 18 per cent jump in its pre purchase house inspections in the first quarter of 2009 when compared with the last quarter of 2008. Top 3. Scammers make bent meals of rent deals Recently we've become aware of scammers using the anonymous nature of the internet to advertise rental properties in an attempt to rip off unsuspecting renters. Many of the properties involved in these scams are advertised as affordable, inner-city apartments and the rent requested is below the current market value. Read More... Recently we've become aware of scammers using the anonymous nature of the internet to advertise rental properties in an attempt to rip off unsuspecting renters. Many of the properties involved in these scams are advertised as affordable, inner-city apartments and the rent requested is below the current market value. One of the many services real estate agencies provide is assurance of the legitimacy of the properties they advertise. By taking out the agency middleman, fraudsters are targeting popular real estate websites, placing fake rental listings with rents as low as $250 per week. The overseas-based scammers often use photographs and details of real homes sourced from 'For Sale' or 'For Lease' internet advertisements, providing detailed descriptions of the property on offer, or hijacking legitimate rental listings by changing the e-mail address or other contact information and placing the modified ad on another site. Typically, the scammers give credible explanations as to why the owner is overseas, often portrayed as having respectable jobs that require international travel. "I have found a procedure that will allow us to make a fast and safe deal and through this way you will see [the apartment] and decide if you will stay in the apt or not before I receive my payment" one email scams reads. "This way you will receive the keys in less than 2 days, if you move fast as well." Prospective tenants are asked to sign a lease agreement and instructed by the purported landlord to wire-transfer money in exchange for apartment keys that never arrive. Conducted through Western Union, the wire transfer the fraudsters instruct would-be-renters to use is irreversible and final. The scam is invariably difficult to trace as scammers tend to communicate via `free' email accounts. The ACCC's Infocentre has warned that the perpetrators are extremely difficult to trace, with the scams incurring expensive and potentially fruitless investigations. How you can spot a rental scam: You are asked to wire money. Wire transfer is often a sign of a scam because the money, just like sending cash, is difficult to recover The contact claims to be out of the country. Even so, they still have a plan to get the keys into your hands. It might involve an "agent" working on his or her behalf - in this case, be sure to look into the agency, perhaps even drop by the office. Some scammers even create fake keys You are asked for a security deposit or first month's rent before you have met a landlord or signed a lease. It's NEVER a good idea to send money to someone you've not met for an apartment or house you've never seen; The contact avoids answering standard questions such as the full address of a property or where the bond is being lodged. Their stories are full of inconsistencies. If you were overseas and wanting to rent out your apartment, wouldn't you put it in the hands of a local agent or a trusted friend who could vet prospective tenants in person and do rental inspections? Top 4. The Great Australian Renovation Australians are investing at increasing levels in renovating their homes, particularly in sustainable designs and materials, building advisory body Archicentre said this week. About 80,000 Australian households conduct major renovations annually, averaging $90,000-$100,000 per renovation. Read More... Australians are investing at increasing levels in renovating their homes, particularly in sustainable designs and materials, building advisory body Archicentre said this week. About 80,000 Australian households conduct major renovations annually, averaging $90,000-$100,000 per renovation. The total value of home renovations in Australia in 2008 was over $7 billion. Managing Director of Archicentre, Robert Caulfield said that renovations, unlike new home starts that can take several months to kick off, are usually 'hammer ready' and can be started quickly. "Importantly, renovations of Australia's existing housing stock can provide a return to the community by improving housing sustainability in the form of environmental design and the introduction of water and energy saving products to support national environmental policies," Mr Caulfield said. "The vast majority - 75 per cent of homeowners and builders - have said that their primary renovation need is for the retrofitting of homes with Environmentally Sustainable Designs (ESDs) and a range of energy-savings measures and technologies." Renovations are also labour-intensive, which can only be a good thing in the current climate. Archicentre's research shows that of the total cost of the average renovation, materials account for 46 per cent and labour 33 per cent, while fees (consultants, levies, permits and GST) make up the balance. Top 5. Best house in Australia Move over Miss Universe, the best home in Australia has just been crowned. THE CNBC International Property Awards Committee has announced a Byron Bay residence has won Best Property Australia in the Asia Pacific division of the awards. Sharon Fraser, the architect and owner of the winning property `Amileka', in the Byron Bay Hinterland, says she is thrilled to be recognised on an international level for the house she is already so proud of. Later this year, top-scoring winners from the Asia Pacific Property Awards will compete against other winners from Europe, the UK, the Americas and Arabia to find the ultimate World's Best in each category. Last year, the Asia Pacific region scooped five World's Best awards. This year's judges included Peter Bolton King, of the National Federation of Property Professionals, Wilhelm Harnish, Master Builders of Australia (MBA) and Thijis Stoffer, International Consortium of Real Estate Agents Association. `Amileka' was also the recipient of the 2008 Australian Institute of Architects NSW Country Division Architecture Award. Top 6. Grounds for more use If you believe the hype, nearly 1.5 billion people enjoy a cup of coffee every day. So where do all the coffee grounds go when the percolator has drained? We can't account for it all, though we do have some ways you can put your coffee grounds to good use - Rubbing coffee grounds on your hands, just like vanilla essence, is a great way to remove odours after cooking with raw onions, garlic etc. Keep the odours out of your fridge by putting coffee grounds inside an old stocking and placing it in the fridge - like bicarb-soda, it will absorb lingering smells Sprinkle coffee grounds around the base of your garden plants to stop garden pests like snails and slugs from feasting on your flora A mix of coffee grounds and sugar is said to revive houseplants that have turned yellow in winter.

Latest Property News from Ted Hanson

Friday 15 May 2009 If Only We Believe... To believe is to know that every day is a new beginning. It is to trust that miracles happen and dreams really do come true. To believe is to see angels dancing among the clouds, to know the wonder of a stardust sky and the wisdom of the man in the moon. To believe is to know the value of a nurturing heart, the innocence of a child's eyes and the beauty of an aging hand, for it is through their teachings we learn to love. To believe is to find the strength and courage that lies within us when it is time to pick up the pieces and begin again. To believe is to know we are not alone, that life is a gift, and this is our time to cherish it. To believe is to know that wonderful surprises are just waiting to happen, and all our hopes and dreams are within reach . . . if only we believe. Author Unknown 1. Who's helping with the mortgage? ASIC, in conjunction with Consumer Affairs Victoria (CAV), has released a report examining how lenders and mortgage brokers respond to borrowers experiencing financial difficulties. The report, Helping home borrowers in financial hardship (REP 152), found that while some lenders are responding well to the needs of their customers, there is generally room for improvement. Read More... ASIC, in conjunction with Consumer Affairs Victoria (CAV), has released a report examining how lenders and mortgage brokers respond to borrowers experiencing financial difficulties. The report, Helping home borrowers in financial hardship (REP 152), found that while some lenders are responding well to the needs of their customers, there is generally room for improvement. The report provides guidance to industry on how to improve practices. ASIC's Senior Executive Leader, Deposit takers, credit and insurance providers, Greg Kirk said the report highlights the importance of industry taking an active role in dealing with hardship. "With forecasts of growing unemployment, we can expect to see increasing numbers of borrowers experiencing mortgage stress," Mr Kirk said. "In many cases, however, financial difficulties will be temporary, allowing problems that arise to be resolved." Mr Kirk stressed the importance that lenders and intermediaries have processes and procedures in place to provide constructive responses to financial hardship. These include procedures to identify customers in hardship, to provide clear and timely information to customers on their right to seek relief and to engage sufficiently with a customer's circumstances in order to provide appropriate and flexible assistance. The report found that: * Information about financial hardship is usually only provided following payment default, making it very difficult for borrowers to take positive action at an early stage. Equally concerning, this information is often insufficient for borrowers to understand their options and make informed choices; * Some lenders do very little to identify borrowers who may require hardship assistance. Many lenders leave this identification of need to collection officers who may not be trained for the purpose. For example, one lender only identifies hardship where the borrower raises the need for assistance themselves; * Lenders appear to prefer offering short-term assistance, such as a three-month payment moratorium, rather than genuinely engaging with, and responding to, a borrower's specific situation. For example, a home loan borrower who has lost income through reduced overtime may need their loan to be extended with lower repayments over a longer period. In such circumstances, a short moratorium is a very temporary fix, leaving the borrower likely to default when repayments resume; * Some lenders have adopted policies that are inconsistent with the rights and remedies available to borrowers under the Uniform Consumer Credit Code. For example, by refusing hardship assistance once payments are more than 60 days overdue or limiting any variation in repayments to a maximum period of six months; and * Despite clear industry standards mortgage brokers generally have a limited understanding of their role in responding to financial hardship. While most brokers say they offer assistance, there is little evidence of formal policies and procedures to ensure it is done effectively or constructively. Mr Kirk said this report examined industry practices as at late 2008 and there are already moves within some sectors to improve. On 5 April 2009, the Federal Treasurer announced an agreement with the four major banks wherein they commit to assist borrowers who are experiencing financial difficulty as a result of the global recession. "ASIC is confident industry will welcome the guidance provided by the report, and we'll continue to work with them to promote better outcomes for borrowers," he said. "Helping home borrowers in financial hardship' also provides guidance for borrowers. Further information for borrowers is also available on ASIC's consumer website, FIDO." Top 2. Housing results show policy success Building approvals increased for the second consecutive month in March 2009, the first time this has occurred since late 2007, the Housing Industry Association said this week. HIA Chief Economist, Dr Harley Dale said that the modest turnaround in building approvals figures highlights the success that government policies, such as the boost to the First Home Owners Grant, have had in supporting economic activity and employment. Read More... Building approvals increased for the second consecutive month in March 2009, the first time this has occurred since late 2007, the Housing Industry Association said this week. HIA Chief Economist, Dr Harley Dale said that the modest turnaround in building approvals figures highlights the success that government policies, such as the boost to the First Home Owners Grant, have had in supporting economic activity and employment. "Evidence has emerged over 2009 to date of a recovery in a range of leading housing indicators, albeit a recovery of modest proportions in the case of building approvals," said Harley Dale. "This evidence proves the worth of continuing to look at policies to stimulate the residential sector as clearly such policies have a positive impact on construction, employment, and on the demand for manufactured products," he said. Total building approvals increased by 3.5 per cent in March 2009 due to a 3.4 per cent rise in detached house approvals, the fourth increase in a row, and a lift of 4 per cent in non-house building approvals, the second consecutive increase. Mr Dale said approvals were still down in the March 2009 quarter (-26 per cent on the March 2008 quarter) on account of the investor and trade-up buyer markets. The number of seasonally adjusted residential dwelling approvals increased in March in Victoria (+15 per cent), Queensland (+7 per cent), and South Australia (+4.9 per cent). The trend number of approvals increased in both the Northern Territory (+5.7 per cent) and the Australian Capital Territory (+1.7 per cent). The number of seasonally adjusted approvals fell by 7.2 per cent in New South Wales, 10.5 per cent in Tasmania, and 14.9 per cent in Western Australia. Top 3. $1 Farmhouse the tip of the iceberg With reports of home-buying incentives and dollar deals from all over the world, how do you tell a good deal from a heavy load? A two-storey farmhouse in the US has been advertised for sale for a dollar - the catch is the land isn't for sale, and the buyer must be able to afford to move the house away from its current location. The Washington Post reports that whoever buys the 230 square metre 1880s farmhouse will need to get permission from the town, the county and possibly the Virginia Department of Transportation. Read More... With reports of home-buying incentives and dollar deals from all over the world, how do you tell a good deal from a heavy load? A two-storey farmhouse in the US has been advertised for sale for a dollar - the catch is the land isn't for sale, and the buyer must be able to afford to move the house away from its current location. The Washington Post reports that whoever buys the 230 square metre 1880s farmhouse will need to get permission from the town, the county and possibly the Virginia Department of Transportation. The move is estimated to cost anywhere from $30,000 upwards, and it can't pass under traffic lights or power lines due to its size, meaning the buyer not only needs the money to finance the move, but also a good understanding of the approvals and processes involved. Perhaps a little more than the $1 price tag suggests! Top 4. Home building recovery underway: BIS Shrapnel Interest rate cuts and the First Home Buyer Boost Scheme are contributing to a rebound in housing demand, according to leading industry analyst and economic forecaster, BIS Shrapnel. The company is forecasting a 10 per cent rise in dwelling approvals during the June quarter of 2009, as many upgraders who have sold their older properties to first homebuyers elect to buy a new house. Read More... Interest rate cuts and the First Home Buyer Boost Scheme are contributing to a rebound in housing demand, according to leading industry analyst and economic forecaster, BIS Shrapnel. The company is forecasting a 10 per cent rise in dwelling approvals during the June quarter of 2009, as many upgraders who have sold their older properties to first homebuyers elect to buy a new house. This is on the back of the increase in national dwelling approvals of seven per cent, in seasonally adjusted terms, seen over the three months to March 2009. BIS Shrapnel senior economist, Jason Anderson, expects there will be a sustained expansion in demand for new dwellings in 2009/10, even if grants for first home buyers are scaled back. "The evidence from Victoria is that upgrader demand is already recovering in that state," Anderson said. "And this source of sales should recover in other states due to attractive interest rates." Anderson added that it is important to note that housing demand has been very uneven across the states. "There have been very strong recoveries in dwelling approvals in Victoria and South Australia, which are up 22 per cent and 18 per cent respectively," he said. "This indicates that home buyers are responding rapidly to lower interest rates and higher grants, and it is evident that the 2008 house building downturn was most shallow in these states. "These states are also leading the national recovery over the first quarter of 2009." The reason for the markedly better performance by Victoria and South Australia is that residential land affordability in Melbourne and Adelaide is much better than in other cities. Attractive land prices will also mean that residential building in Victoria and South Australia will provide greater support for those economies during the recession. In other states, dwelling approvals in Queensland, Western Australia and Tasmania were marginally lower over the three months to March 2009. At the other end of the spectrum, approvals in New South Wales remain extremely low - March quarter 2009 approvals were the lowest, in seasonally adjusted terms, for any quarter on record. BIS Shrapnel notes that the continued decrease reflects the state's dependence on medium and high-density dwelling projects. In recent years Sydney home buyers have been driven towards medium and high density housing due to the relatively high price of residential land. Mr Anderson said the global financial crisis has made it much more difficult for developers to access credit, and the plunge in apartment projects has reduced this opportunity (apartments) for all households, including first home buyers. "The differing trends across Australia mean that extension of first home buyer grants into the second half of 2009 will be particularly important for New South Wales," he said. "Given the current difficulties for developers to get finance for medium or high-density unit/apartment development, many are not in a position to schedule additional construction." BIS Shrapnel believes the slow rate of home building in New South Wales requires special attention from the State Government, given the very low rate of building even with the First Home Buyer Boost Scheme in place. The company warns that there is a substantial risk that New South Wales will be the laggard in the national economic rebound forecast for 2010. "Residential building is the traditional driver of recovery from recession, so it is vital that policy efforts are focused on this sector," he said. Top 5. Slithering out of a sale What's the last thing you'd want to see at a house inspection? While inspecting a far North Queensland beach property, a Sydney couple found themselves face to face with a giant python mid-meal. Both they and the real estate agent were taken aback as the large snake attempted to eat an ibis head-first - a task that proved unsuccessful due to the bird's sharp beak, resulting in the snake regurgitating its meal and slithering off into the bushes. The Cairns Post reports the agent Phil Holloway - who had lost his Yorkshire terrier to a snake in the area - did not believe the Sydney couple were likely to purchase the property. "I think they were a little bit shocked, to tell the truth," Mr Holloway said. "They said they had a small dog, and they were a bit worried about buying a place with big snakes around," he said. "I might have lost a sale there." Top 6. Real estate glossary: Equity "Equity", in real estate terms, can be defined as the dollar amount of a property that is actually owned. For example, if you own a house worth $250,000, but you have a mortgage of $100,000, then the amount of "equity" in the property is $150,000. As your mortgage decreases and the property value increases, the amount of equity rises.

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Friday 08 May 2009 Happy Mothers Day! Application for the role "Mother" We are currently seeking applicants for a divine role in the work force. Very little experience is needed, as you will have complete "on-the-job" training. Must be willing to work 24 hours a day, 7 days a week. Patience is a must. We will start you out doing some heavy lifting and carrying for about 9 months after which you will be asked to suffer extreme pain for a few hours. You will then move on to the "parent" part of our program, where you will teach, nurture, and care for little children. After they have become independent, you will be on call for the rest of your life to rescue burning chickens, save loads of laundry, lend a listening ear, etc. Pay is minimal, but the eternal rewards are priceless!!! By David Sanders WISHING ALL THE MUMS OUT THERE A FABULOUS MOTHERS DAY! 1. OCR steady at 3.0 As was widely predicted, the Reserve Bank decided to leave the Official Cash Rate unchanged this week. In his statement announcing the Bank's decision, Governor Glenn Stevens said that while conditions in global financial markets remain generally on a path of gradual improvement, confidence remains fragile and balance sheets are under pressure. Read More... As was widely predicted, the Reserve Bank decided to leave the Official Cash Rate unchanged this week. In his statement announcing the Bank's decision, Governor Glenn Stevens said that while conditions in global financial markets remain generally on a path of gradual improvement, confidence remains fragile and balance sheets are under pressure. He observed that borrowing for housing in Australia is picking up, particularly among first-home buyers and that market and mortgage rates are at very low levels by historical standards. Business loan rates are also below average, reducing debt-servicing burdens considerably. "Much of the effect of these changes is yet to be observed", Governor Stevens said. "The stance of monetary policy, together with the substantial fiscal initiatives, will provide significant support to domestic demand over the period ahead." The RBA has cut 425 basis points from the cash rate since September 2008, effectively reducing repayments on an average $400,000 mortgage by about $1000 a month. Top 2. New home grant boosts jobs New home sales rose for a third straight month in March according to the latest survey by the Housing Industry Association (HIA). HIA Chief Economist, Dr Harley Dale said this week that it is clear that in the first quarter of 2009, the project home building market was buoyed by the combination of the First Home Owner Boost and very low variable mortgage rates. Read More... New home sales rose for a third straight month in March according to the latest survey by the Housing Industry Association (HIA). HIA Chief Economist, Dr Harley Dale said this week that it is clear that in the first quarter of 2009, the project home building market was buoyed by the combination of the First Home Owner Boost and very low variable mortgage rates. "The First Home Owner Boost for new dwellings is clearly lifting residential building activity and securing jobs within the Australian economy", he added. Total new home sales increased by 4.2 per cent in the month of March 2009. Detached home sales increased by 4.1 per cent in the month and were up by a healthy 17 per cent over the quarter. "Detached new home sales rose in the March quarter in all five mainland states, the first time we have seen an across the board lift in sales since the beginning of 2007", Dr Dale observed. Sales of apartments and units increased by 4.7 per cent in March but this rise was insufficient to arrest a clear trend decline in activity in this market. Sales over the March quarter fell by 14 per cent. For the month of March detached New Home Sales increased by 15.2 per cent in New South Wales, 14.6 per cent in Victoria, and 7.3 per cent in Western Australia. Sales fell by 4.6 per cent in South Australia and were down by 16.9 per cent in Queensland, although this followed a 26.2 per cent surge in February. Top 3. House prices down Australian house prices fell in the March quarter, according to figures released this week by the Australian Bureau of Statistics (ABS). The preliminary figures show the weighted average price index for established detached houses for Australia's capital cities fell by 2.2 per cent in the March quarter. Read More... Australian house prices fell in the March quarter, according to figures released this week by the Australian Bureau of Statistics (ABS). The preliminary figures show the weighted average price index for established detached houses for Australia's capital cities fell by 2.2 per cent in the March quarter. In the year to March, the house-price index fell 6.7 per cent. The capital city established house price index rose in the March 2009 quarter by 2.2 per cent in Darwin, 0.5 per cent in Canberra and 0.1 per cent in Hobart. The index fell by 2.9 per cent in Sydney, 2.3 per cent in Melbourne, 1.1 per cent in Melbourne, 0.8 per cent in Adelaide and 3.6 per cent in Perth. The capital city project home price index fell in the March 2009 quarter by 0.5 per cent. The index rose by 0.1 per cent in Adelaide and 1.5 per cent in Darwin, but fell by 1.2 per cent in Melbourne, 0.8 per cent in Brisbane and 0.4 per cent in Perth. It was flat in Canberra, Hobart and Sydney. Top 4. New green standards welcomed The announcement by the Council of Australian Governments (COAG) of a move to higher energy efficiency standards for houses and commercial buildings has been welcomed by industry bodies. The Green Building Council of Australia (GBCA) said this week that the move to six star standards is a positive step in the right direction. Read More... The announcement by the Council of Australian Governments (COAG) of a move to higher energy efficiency standards for houses and commercial buildings has been welcomed by industry bodies. The Green Building Council of Australia (GBCA) said this week that the move to six star standards is a positive step in the right direction. "COAG's commitment to a minimum standard of six stars will improve the environmental sustainability of Australia's homes and reduce our national carbon emissions," said Chief Executive, Romilly Madew. "Australia's commercial and residential buildings are responsible for 23 per cent of the nation's greenhouse gas emissions. "This is why energy efficiency measures in new and existing buildings are vital if we are to reduce Australia's carbon footprint", Ms Madew concluded. The Residential Development Council (RDC) warned that while the decision to move to 6-star residential by 2010 was positive, it will require significant work between the industry and the government to achieve in the given timeframe. "Attention needs to be turned to the road map for delivering on the transition to 6-star development, with financial incentives needed to achieve this aim", RDC executive director Caryn Kakas said. "Clearly the First Home Owner's Boost for new homes can be used to offset the significant cost burden on the industry, especially for multi-unit residential", she suggested. Ms Kakas emphasised the importance of setting national standards in order to reduce red tape, confusion and delays. Master Builders Australia commented that the decision to incorporate energy saving hot water systems and lighting into the star ratings system will also allow overall energy targets to be achieved more efficiently and in a more flexible way. Top 5. Nicked in time by webcam watcher Modern home security systems will see you resting easier, though sometimes there's nothing better than keeping an eye on things yourself. A US woman recently tuned into a home webcam from her work computer to see strangers rummaging through her home. Local news reported the 43-year-old Florida woman called the police as she watched burglars help themselves to food from her fridge, steal computer games and scare her pets. Due to her watchful eye and swift response, police arrived before the burglars had caused any real damage. Top 6. Barely lit room Stuffed toys are prone to losing limbs. So what do you do once teddy it loses its head for good? Taking the `bright idea light bulb' a bizarre step further, designer Matthew Kinealy has left the head off and replaced it with a lamp and shade. A plump and cuddly body means ted can slouch on the table, shelf or nightstand without falling over, and the warm glow means you can add `comfort lighting' to any room.

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Friday 01 May 2009 I Wanted To Change The World When I was a young man, I wanted to change the world. I found it was difficult to change the world, so I tried to change my nation. When I found I couldn't change the nation, I began to focus on my town. I couldn't change the town and as an older man, I tried to change my family. Now, as an old man, I realize the only thing I can change is myself, and suddenly I realize that if long ago I had changed myself, I could have made an impact on my family. My family and I could have made an impact on our town. Their impact could have changed the nation and I could indeed have changed the world. Written by an unknown Monk around 1100 A.D. 1. Record response to call for new homes There has been a record response to the call for electronic tenders to build new social housing dwellings in NSW, Federal Housing Minister, Tanya Plibersek and NSW Housing Minister, David Borger announced this week. The tender was for proposals of land and multi unit packages for potential purchase as social housing under the Nation Building Economic Stimulus Plan. Read More... There has been a record response to the call for electronic tenders to build new social housing dwellings in NSW, Federal Housing Minister, Tanya Plibersek and NSW Housing Minister, David Borger announced this week. The tender was for proposals of land and multi unit packages for potential purchase as social housing under the Nation Building Economic Stimulus Plan. Ms Plibersek said the plan is a practical step towards cushioning the impact of the global financial crisis by supporting jobs in the construction sector. "Housing and construction is a major employer in the Australian economy", she said. "This is about jobs for builders and tradies as well as associated industries such as building manufacturers and suppliers who help keep the Australian economy ticking over." Mr Borger added that over the next three years, the Commonwealth and NSW Governments will invest $3 billion to build about 9000 additional social housing homes and support some 37,000 jobs and apprenticeships across NSW. "We need to move quickly - 75 per cent of the properties that the Commonwealth is funding need to be ready for tenants to move in by Dec 2010," he said. "We want 3,000 of those new homes to come from the purchase of private land with the potential for residential development and in early March we launched a request for proposals and held briefing sessions across the state with hundreds of people attending. "In just four weeks we received submissions for 877 sites which alone could deliver more than 15,000 new homes - giving us plenty of room to find the best 3,000." Mr Borger said the Government was looking for projects that deliver "the right homes, in the right location, for the right price". "We will not buy or build great numbers of new social housing homes in one location", he said. "We know that healthy communities need a good mix of residents and we are determined to encourage better, stronger communities." The final 3000 will be released by June and it is expected that work will start shortly afterwards. Top 2. New `hardship' threshold to help borrowers Good news this week for homeowners having difficulty meeting their mortgage repayments, with the announcement by Senator Nick Sherry, Minister for Superannuation and Corporate Law, of changes to the `hardship' threshold. The threshold to access the hardship arrangements is set according to a complex formula that caps the access point at 110 per cent of the average loan size for new dwellings in NSW as set by the Australian Bureau of Statistics monthly. Read More... Good news this week for homeowners having difficulty meeting their mortgage repayments, with the announcement by Senator Nick Sherry, Minister for Superannuation and Corporate Law, of changes to the `hardship' threshold. The threshold to access the hardship arrangements is set according to a complex formula that caps the access point at 110 per cent of the average loan size for new dwellings in NSW as set by the Australian Bureau of Statistics monthly. It is currently $312,400 but that is set to change again to $500,000 on 12 May. "This means if homeowners find themselves in financial hardship they will be able to request help", Minister Sherry said. "That might be a change to certain terms of their credit contract on the grounds of hardship or a postponement of enforcement proceedings." "We're also putting in place a new, simple and clear way of adjusting the threshold upwards in future, if we need to," he added. The minister said that this measure should also provide greater certainty to credit providers, since the threshold has ranged between $295,790 and $368,390 since 2004, making it difficult for providers and consumers to know if a loan qualifies. The changes are contained in the National Consumer Credit Protection Bill 2009, which was released in full on April 27, 2009. The threshold changes will take effect once the National Consumer Credit Protection Act commences, which is expected to occur on 1 November 2009. On 4 April 2009 the Government announced a new agreement with the four major banks, to assist borrowers facing financial hardship, and is working with industry associations to encourage the adoption of these principles by all lenders. Top 3. Sydney - one of the best Sydney is one of the best cities in the world to live in, according to an annual appraisal of the most liveable cities for expatriates. The Mercer 2009 Worldwide Quality Of Living Survey ranked Vienna as the most congenial city in the world for expatriates. Baghdad ranked last, due to its "lack of security and stability" continuing to have a large impact on quality of living. Read More... Sydney is one of the best cities in the world to live in, according to an annual appraisal of the most liveable cities for expatriates. The Mercer 2009 Worldwide Quality Of Living Survey ranked Vienna as the most congenial city in the world for expatriates. Baghdad ranked last, due to its "lack of security and stability" continuing to have a large impact on quality of living. Slipping into the top ten again for the second year in a row, Sydney (at 10th spot) was the highest-ranked Australian city again this year, ahead of Melbourne at 18 and Perth at 21. Adelaide and Brisbane were considered less "liveable", ranked at 30 and 34 respectively, but still well within the top 100 cities in the world. Cities are ranked against New York as the base city with an index score of 100. Mercer's Quality of Living ranking covers 215 cities and is conducted to help governments and major companies place employees on international assignments. This year's ranking also identifies the cities with the best infrastructure based on electricity supply, water availability, telephone and mail services, public transport provision, traffic congestion and the range of international flights from local airports. Slagin Parakatil, senior researcher at Mercer, commented that infrastructure has a significant effect on the quality of living experienced by expatriates. "Whilst often taken for granted when functioning to a high standard, a city's infrastructure can generate severe hardship when it is lacking", Mr Parakatil said. As far as infrastructure goes, Singapore topped the list, followed by Munich and Copenhagen. Sydney again was way ahead of the other Australian capital cities, ranked at 11 - below London (8) but above Paris (13). Melbourne was ranked at 35, while Adelaide, Brisbane and Perth all fell just below on 38. Top 4. The greener side of fences In simpler times past, the only important thing about a fence was whether it was tall enough, long enough and sturdy enough. With our expanding eco-consciousness, however, we are coming to realise that the materials we have been using to build our fences aren't always best friends to the environment. Non-recycled metal uses a lot of energy to manufacture and unless wood has been recycled, chances are it has contributed to tree-logging problems across the world. On top of that, commercially sold wood is often treated with chemicals to prevent decay and keep insects away. Read More... In simpler times past, the only important thing about a fence was whether it was tall enough, long enough and sturdy enough. With our expanding eco-consciousness, however, we are coming to realise that the materials we have been using to build our fences aren't always best friends to the environment. Non-recycled metal uses a lot of energy to manufacture and unless wood has been recycled, chances are it has contributed to tree-logging problems across the world. On top of that, commercially sold wood is often treated with chemicals to prevent decay and keep insects away. The good news is, that there is a growing range of eco-friendly fencing materials that hold more than their own. We have looked into some of the alternatives available - each offers a different look and feel, but it is a start to get you on some research into what type of fence would best suit your home. Here are some of the eco-friendly fencing materials we have found: Brushing up - made from the small straight stems of the broad-leaved ti-tree plant, brush fences are aesthetically pleasing and relatively easy to fit to your surroundings. The ti-tree stems are often left in their natural state and combined with painted plinths and cappings. Flavours of the orient - bamboo shoots bound together make exceptional fences, noted for their sustainability, easy installation, durability and pleasing appearance. A lot of available bamboo is imported from overseas, so if you've got the shoots in your sights, try to source some from an Australian harvester. On the way back around - fences made from recycled fibres like plastics, wood and wheat straw, are becoming more common, creating a fence that has the appearance of wood, but without needing the preservatives and maintenance. Lumber support - apart from being environmentally friendly, reclaimed wood will often be stronger than newer woods available on the market today. Hedging your bets - if you don't have a dog to keep within the yard, thick plants grown around a frame are a good way to obscure the view from the outside, giving you some privacy with a living, natural fence. Talk to your local horticulturist or council to find the best types of plants to grow in your area. Top 5. Stirring things up Too many cooks may spoil the broth, but the cook who runs off to answer the phone may also ruin the soup. Stirr, the automatic stirrer from uutensil, takes the hassle out of preparing meals that need constant stirring attention - simply place it `legs down' into a saucepan, push the button and watch it stir things up. Or run to answer the phone, knowing your soup, sauce, gravy or custard won't be sticking to the bottom in your brief absence. Top 6. For sale - by photo One of the first things a prospective buyer will see of your house is photos, so it is a good idea to take the time and effort to ensure it is shown off to best advantage. They should be clear, well-presented and make your house look instantly attractive. Good photos need a little preparation, so first take a walk around the house and choose the right angle to present its best features. Clear away any clutter and add a few accessories such as a vase of flowers (or a bowl of fruit in the kitchen). If there is a great view from one of the windows, or a garden area beyond glass doors, include it as part of the room, if possible. Frame it using the fittings (open the curtains wide) and by angling the furniture so that the eye is led beyond the room. Have a professional take the photos and be prepared to repeat the exercise a few times before you get them right.

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Friday 24 April 2009 This Saturday we celebrate the Anzacs... A Tribute to ANZAC Day With their hair a little whiter, their step not quite so sure Still they march on proudly as they did the year before. Theirs were the hands that saved us, their courage showed the way Their lives they laid down for us, that we may live today. From Gallipoli's rugged hillsides, to the sands of Alamein On rolling seas and in the skies, those memories will remain. Of airmen and the sailors, of Lone Pine and Suvla Bay The boys of the Dardenelles are remembered on this day. They fought their way through jungles, their blood soaked desert sands They still remember comrades who rest in foreign lands. They remember the siege of old Tobruk, the mud of the Kokoda Trail Some paying the supreme sacrifice with courage that did not fail. To the icy land of Korea, the steamy jungles of Vietnam And the heroic battle of Kapyong and that epic victory at Long Tan. Fathers, sons and brothers, together they fought and died That we may live in peace together, while at home their mothers cried. When that final bugle calls them to cross that great divide Those comrades will be waiting when they reach the other side. Written by Ken Bunker 1. Why do Aussies invest in property? Australian investors see property as a safe form of investment in the long term, according to a new study. The study, released this week by the Australian Housing and Urban Research Institute (AHURI), indicates that the choice to invest in property, rather than some other area of investment is not always definitive; in practice, most of the property investors interviewed also invest in other areas, mainly shares. Read More... Australian investors see property as a safe form of investment in the long term, according to a new study. The study, released this week by the Australian Housing and Urban Research Institute (AHURI), indicates that the choice to invest in property, rather than some other area of investment is not always definitive; in practice, most of the property investors interviewed also invest in other areas, mainly shares. It is not an either/or decision for many people. However, shares are generally seen as being of a different (ie, lower) order and scale to property, and are treated accordingly. "It also transpires that many investors have previously lost money in shares, and are not keen to repeat the experience", report authors wrote. Regardless of whether they have owned shares or not, there are several reasons behind investors' choice to invest in property over other forms of investment. The most crucial perception is that it represents a good (long-term) investment, with a sense of `low risk' and `guaranteed' return. Most investors have identified `long-term investment' or `capital gains' as the most important reason for having invested in property. A related significant factor is that investors report feeling `comfortable' with property: it is safe, stable, and familiar (particularly when compared with shares). Indeed, sentimentality and informality appear to be important, for property is widely regarded as something relatively easy to invest in (not mysterious or complex like some other investments), with the general impression that `lots of people do it'. AHURI's Final Report No. 130, Understanding what motivates households to become and remain investors in the private rental market, is the concluding output of a research project examining the motivations, expectations and experiences of rental property investors, and analysing the implications of investment motivations and behaviours for the future of lower rent housing. The report is available for download from the AHURI website. Top 2. Construction still falling: Australian PCI® A lack of new projects meant that the national construction industry continued to decline in March, according to the latest Australian Industry Group - Housing Industry Association Australian Performance of Construction Index (Australian PCI®). The Australian PCI stood at 30.4 in March, up by 0.9 points but remaining below the key 50 points level separating expansion from contraction. Read More... A lack of new projects meant that the national construction industry continued to decline in March, according to the latest Australian Industry Group - Housing Industry Association Australian Performance of Construction Index (Australian PCI®). The Australian PCI stood at 30.4 in March, up by 0.9 points but remaining below the key 50 points level separating expansion from contraction. Australian Industry Group (Ai Group) Associate Director, Economics and Research, Tony Pensabene, said the March results show more evidence of a struggling construction industry as low market demand and tight credit conditions lead to on-going falls in activity. "However, there is an easing in the pace of the industry's contraction, reflecting slower rates of decline in the house building, apartments and commercial construction sectors", Mr Pensabene said. He added that a notable improvement has been evident in the considerable easing in the rate of contraction in house building activity since late 2008 on the back of lower interest rates and the increase to the first home owners grant. "In addition, the sizeable moderation in the level of contraction in apartment building activity in March, follows the recent upturn in approvals for the sector, and may provide an early sign of firmer investor demand, although it is a volatile segment of the building market," Mr Pensabene said. The full report is available for download from the AI Group website. Top 3. Building value rises New residential building work rose in value in the year to December 2008, according to figures released this week by the Australian Bureau of Statistics. Read More... New residential building work rose in value in the year to December 2008, according to figures released this week by the Australian Bureau of Statistics. Renovations, however, dropped in both the December quarter and over the year. Seasonally adjusted, the value of new residential work done fell 1.8 per cent to $8,777.0m in the December quarter 2008, down from the previous quarter. This was a rise of 2.9 per cent from the December 2007 quarter. Work done on new houses fell 1.0% to $6,143.6m, while new other residential building fell 3.8%, to $2,633.4m. Alterations and additions fell 3.9%, to $1,583.9m in the December quarter, down 3 per cent from the year before. Top 4. Buyers putting trust in friends and family Keen to take advantage of the current market advantages, yet faced with stricter lending criteria, Australia's potential buyers are increasingly looking for ways to secure finance approval sooner, a new report shows. According to the 2009 First Homebuyers Survey commissioned by broker Mortgage Choice, a number of Australians are turning to property co-ownership and joint-borrowing options to secure their home loan. Read More... Keen to take advantage of the current market advantages, yet faced with stricter lending criteria, Australia's potential buyers are increasingly looking for ways to secure finance approval sooner, a new report shows. According to the 2009 First Homebuyers Survey commissioned by broker Mortgage Choice, a number of Australians are turning to property co-ownership and joint-borrowing options to secure their home loan. Mortgage Choice Senior Corporate Affairs Manager, Kristy Sheppard said that sharing mortgage commitments with one or more people may ease the challenge of applying for and repaying a mortgage. "Plus, it often enables buyers to enter the market with a higher borrowing capacity and increased security around home loan serviceability", she added. "Since lenders removed 100 percent loans from the market and limited the maximum lending per borrower to a 90 to 95 percent loan-to-value ratio or lower, we are witnessing a return to the `old days', when a loan approval relied, in part, on an upfront deposit built from genuine savings". The survey shows that 5% of people planning to buy their first home this year will do so with family. Of those buying with parents, 65% will joint purchase, 20% will receive a monetary gift to help raise adequate deposit and 15% will have parents act as loan guarantor, helping to bridge the upfront deposit and expenses gap plus eliminating the need for lenders mortgage insurance. Over 1% nationally will buy with friends (over 2% in SA and WA). Not surprisingly, more Australians are expressing interest in purchasing their first property with people with whom they are unrelated, such as a friend or property syndicate, as a means to potentially enter the market sooner. This often increases their borrowing power and shares the financial responsibility. "It makes sense that an increasing number of buyers are considering collaborating with parents and friends for additional security with their mortgage, especially in the current economic climate," Ms Sheppard said. "If potential buyers are eager to take advantage of today's `buyer's market' but have a smaller deposit or a lower income than needed for a loan approval, they should be aware of available loan options that could help their situation. "Visiting a reputable mortgage broker is a great place to start researching different options, as is the internet. Don't be afraid to utilise social networking websites or online forums to speak first-hand to current property owners about the pros and cons of their loan decisions". "Of course, entering into a financial commitment with friends or family can stretch the boundaries of a relationship. Seeking independent legal and financial advice prior to signing a loan contract is very important. All parties must fully understand their rights and obligations to the loan and it is sensible to have agreements in writing before proceeding. Top 5. Less is Best If you're selling a property the golden rule is, "less is best." This means taking clutter off shelves, clearing kitchen bench tops, taking excess books off shelves, removing large pieces of furniture and if you have collections, such as art or memorabilia, packing them away. Think of it this way, you'll be moving anyway so you might as well start clearing the decks. Remember, buyers want to see themselves in your home, not you! Top 6. Council meetings in your living room Australian councillors, planners and ratepayers now have a common ground on which to meet to discuss current issues - an online community forum. According to its publicity, Bang the Table is an "independently moderated space for discussing public policy". The idea behind it is to host discussions for public policy organisations that recognise the value of community input to their decisions. For example, there are currently ongoing discussions on the site relating to Hornsby Shire's Housing Strategy and the introduction by the Blue Mountains City Council of 8 trial `dog off-leash' sites. Bangthetable.com's director, Matthew Crozier, says the site only hosts discussions for decision-makers, which is useful to government officials who can use it to judge the heat and depth of an issue within a community. Is your community participating?