Welcome to another Success Tips Newsletter.
This week has seen an interesting release of data on house prices by Residex and a policy update from mortgage insurer Genworth Financial which all property investors should take note of.
John Edwards, CEO of FindMeaHome.com.au and Residex yesterday released this summary of the Australian housing market.
"The market generally across Australia was still adjusting in the last three months but not as much as many people thought. In fact contrary to popular view the majority of houses in Brisbane had not lost value over the last 3 months. They had made a small advance of 0.05%.
The overall trend Australia wide is an improving position, the bottom of the market was in June/July where the total adjustment for the two months was a -1.5%. The adjustment in the month of October continued to show improvement and was only -0.05%.
Across Australia rental are rising and will increase further as demand increases in a market where development activity is falling away and immigration remains at a relatively high level. Growth in rental for the year was again approaching an all time high and was 12.9%. The highest average rental increase was in Melbourne and was 12.12% for the year."
The report is a must read as it brings a balanced point of view to the current property market debate.
Yesterday mortgage insurer Genworth Financial issued a policy update that all borrowers should be aware of as it may have significant impact on your future borrowing capacity. The most concerning changes are those that will effect Low-Doc borrowers. In particular are the following changes:-
All self-employed borrowers obtaining a loan under the Low-Doc product must have:
• An active ABN for at least 2 years
• GST registration for at least 12 months
The following additional information will also be required for all Low-Doc proposals:
• Past 12 months BAS Statements from the ATO
BAS Statements will be required for each trading entity, should the borrower declare income from more than one trading entity on the LMI application
• Past 6 months personal transaction account statements (primary account only)
Of even more concern is the decision to exclude the following loan purposes from their Low-Doc product:
• Refinance of investment loans
• Any loan that has a cash-out, equity release or debt consolidation component
So this now means that neither PMI nor Genworth will mortage insure loans that are refinancing investment loans with a cash out or equity release component. Any investors that has been relying upon refinancing their investment loans to tap into equity built up from the growth in their properties will no longer be able to do so through any financier that insurers their loans through Genworth.
These changes will take effect from December 1st 2008. Therefore you have until then to get any loan applications approved before the new changes take effect.
_______________________________________________
STOP PRESS - CBA UPDATE HAS JUST COME OUT - From Monday 1 December 2008, all CBA Low Doc home loan applications with an LVR greater than 60% will be required to provide:
- Business Activity Statements (BAS) for the past 12 months, as submitted to Australian Taxation Office
- Businesses with a declared income of $75,000 or more per annum must confirm that they are GST registered for a minimum of 12 months.
_______________________________________________________
Being a member of WealthSecretsGuild.com will keep you ahead of the pack.
CLICK ON THIS LINK NOW and get instant access to over $250,000 worth of step-by-step coaching from the worlds most successful people for just $1.00! You will get astonishing value from the exclusive content of the site.
This weeks Success Tip comes from Lisa Messenger. With a background in sponsorship, marketing and PR, Lisa is currently the managing director of Messenger Marketing and Messenger Publishing. She is also the author of two books, with a six-part series of books soon to be released. To find out what are the 12 top tips to success then read her article below.
Here’s to your success,
P.S. If you are wanting to find out more about Wealth Secrets Guild then go to:
www.WealthSecretsGuild.com
Today's success tip comes from Lisa Messenger.
With a background in sponsorship, marketing and PR, Lisa is currently the managing director of Messenger Marketing and Messenger Publishing. She is also the author of two books, with a six-part series of books soon to be released.
What are your top tips for success?
Dream big - chase your dreams until they become reality and don't be afraid of your passions. If you believe in them enough, you will find an inner strength to achieve them.
Don't procrastinate - try not to postpone anything for the wrong reason. If you have to put something off, make sure it's because the time really isn't right, not because you're too afraid to start.
Ban negative thinking - become aware of the negative patterns you are perpetuating and de-program them. Replace them with positive habits to create a new way of living.
Maintain a positive outlook - believe that you can take on the world - you can! Remain focused and don't let anyone drag you down. Wherever possible, break from convention and take risks.
Find a level of inner peace - believe in a higher power that will take you beyond your emotional and intellectual boundaries. You may surprise yourself by how exciting the journey of personal discovery can be.
Find a strong team - surround yourself with the best people. Create a brilliant team with brilliant minds.
Dump - leave behind anything you are not passionate about. Pursuing ideas that don't sit well with your personal philosophy or ethics is a waste of time and a drain on your energy.
Delegate - pass on anything that doesn't require top-level strategic thinking. That way you can keep yourself clear for important projects, to think and to dream.
De-stress - deal with any issues that could become unmanageable as they arise. I have found that this is a great way to alleviate stress. I have also found it useful to create an effective 'switch-off' mechanism when I'm out of the office. I have an extremely full life with golf, tennis, boxing, kayaking, writing (I am currently working on a novel and co-authoring six non-fiction books), meditation, walking and going to the movies to keep me de-stressed. I'll pretty much try anything once and have managed to create an amazing work/life balance.
Know who you are and what you want - I can now say that I am content and accepting of who I am. I now have a greater awareness of my values and my beliefs. I think it is important to look deep within yourself to realise who you truly are, where you came from and what made you the person you are today.
Love what you do - if you don't like what you are doing now, change it! Refuse to live a discontented life.
Never give up - sometimes knowing what we want is the hardest part of life. But when I know what it is that I want, I have an uncanny knack of never giving up until I have made it happen. I have so many dreams and never want to close myself off to opportunities. I suppose that is the true essence of an entrepreneurial mind-set.
This website contains even more great tips from Lisa Messenger.
_________________________________________________________
If you are a member of Wealth Secrets Guild, then you can read more from Lisa Messenger: (just enter your unique member username and password when prompted)
Click Here NOW to Discover More Great Success Tips from Lisa Messinger
Latest Uploads
Software Solutions
Want to write keyword rich articles that drive traffic to your website? Know what blogging is? What about search engine rankings? Okay - do you know how to build a website? Good news - you don't have to - in this chapter Mitchell Harper and Eddie Machaalani will answer all of these questions plus much more! Having extensive experience with developing websites, writing articles (about web design and programming), generating traffic, selling products online and implementing various marketing strategies (find out about the effective and easy-to-do newsletter), these two entrepreneurs are a great source of information and can kick off your internet business to a great start.
Next Generation Blogging For Extreme Exposure & Profits
Blogging and Podcasting is one of the fastest growing sources of communication on the internet today. In this eBook you will discover how to set yourself apart from the thousands of other people through Blogcasting, a combination of the two, and how get extreme exposure and make money from it.
The Effortless Empire - Part 2
Chris Gray is one of Australia's leading property experts, appearing regularly on channel 9 and Sky Business News. Chris's Base knowledge comes from being a qualified accountant, mortgage broker and buyers agent but more importantly from having invested in property from the age of 22. This eBook will show you haw to leverage your salary and your equity to achieve financial independence through property.
X10 Seminar - Email Marketing Part 2
Declan Dunn is the founder of Dunn Direct Media, a company that has helped many small businesses as well as larger companies, such as American Express, Network Solutions, Priceline, Intel, Office Max, and Toshiba. Today he discusses the more advanced email marketing and direct marketing techniques he personally uses to boost his clients sals and allow them to test any marketing formula's with ease.
Top Secrets About Healthy Relationships
A powerful e-report from SixWise.com. This 45-page guide provides you the world’s most useful secrets to achieve healthy relationships with your loved ones, peers and more. Use this guide to discover the impact and potential human emotion can have on your business and personal life.
