The Shared Start Scheme is a West Australian State Government initiative to assist YOU achieve YOUR dream of home ownership. Check out this listing  to get you entry into the market at a lower price

BRAND NEW APARTMENT IN CITY LOCATION for just $245,000

Western Australia’s first home buyers benefit from the scheme by sharing the ownership and cost of their first home with the Department of Housing and Works. Properties available under this scheme are offered for sale under co-ownership arrangements with the Department of Housing. An eligible Buyer can purchase 70% of a property, with the Department of Housing retaining the matching 30% share in perpetuity. You pay no rent or interest to the Department of Housing for their 30% share of the property.

Check out this Shared start listing here  at realestate.com.au . $245,000  @ 56/76 Newcastle Street, Perth, WA 6000

The price quoted in the above listing is 70% of the value of the apartment. Properties cannot be sublet or leased to other parties and the private co-owner can never acquire the Department of Housings share.

Properties brought through this scheme  may be sold at any time, but only to the Department of Housing using a Market Valuation process to determine the current value of a co-owners share.

You may be eligible for SharedStart laon from Keystart if you answer is yes to all the following:

• I cannot afford a home loan to assist with buying 100 per cent of a property regardless of proof of savings
• I am a single applicant earning a maximum gross income of $70,000 per year, or
  We are a couple/family earning a maximum gross income of $90,000 per year, or
  I/we work in the North West of WA (above the 26th parallel) earning a maximum gross income of $110,000 per year and I/We would like to purchase a property and live in the North West area
• I am a permanent resident of WA
• I am 18 years of age or older
• I will live in the purchased property as my principal place of residence for the life of the SharedStart loan.

The above is not a full list of Keystart’s eligibility criteria. It is an indication only. You must contact Keystart on 1300578 278 (1300KSTART) for a discussion about full eligibility and to see if you can be prequalified for a SharedStart loan

To get more information on this scheme from the government website go here

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Chinese can get a big property in Australia with a big backyard and pool for the same price of a small littel apartment in Shanghai and so property in Australia is definitely a good bargain for some Chinese who have the spare ca$h

Local aspiring homeowners  and investors are complaining that they are being priced out by foreigners who have no intention of living in their new properties and making worse the situation for them to own their dream home by these buyers inflating the prices of property in Australia. Real estate agents like J P DIXON from Melbourne are exploiting this interest by chines buyers by recently going to china to participate in the “China International Luxury Property Show”  recently

As per  Treasury.gov Currently, all temporary residents and non-residents including businesses must notify the Government of their intention to acquire residential real estate, and must comply with post-purchase conditions on its use, development and resale.

Under Goverment rules for property buying for foreigners

Foreign nationals to buy are able to buy second hand dwellings if they hold a temporary visa

New laws dictate that foreigners can no longer buy existing Australian homes as investments.

Temporary residents may buy one existing home to live in, but must apply first with the Foreign Investment  Review Board. Then they must sell their property when they leave Australia.

Foreign investors can continue to buy new or off-the-plan properties without limitation.

International students who become permanent residents can buy property

These recent changes have made it easier for foreign companies and temporary residents, such as 12-month business visa holders, foreign students, and their parents, to invest.

Exemptions for real estate buying in Australia

Certain acquisitions do not require notification or approval under the Foreign Acquisitions and Takeovers Act 1975 (also referred to as exempt acquisitions)

1. You are purchasing new dwelling(s) from the developer, where the developer has pre-approval to sell those dwellings to foreign person
2. You hold a permanent resident visa and you are purchasing residential property
3. You are purchasing property from the Government (Commonwealth, State or Territory, or local)

Check out more exemptions here -> property buying exemptions and for more detailed legilation and policy , rules for foreign ownership in Australia you can visit the goverment website here

Raids On Prime Australian Agricultural land and farms by overseas Investors

These raid on Australia’s prime agricultural land is strategic and systematic. Many countries like the Chinese and Singapore government have increased their  investments in Australia. Countries such as Qatar in the Middle East have even set up government departments dedicated to securing future food sources, with the easiest solution being to buy foreign farms. As per normal rules unless a sale is worth more than $231 million, the Federal Government does not have to know about it

The biggest foreign raiders are actually the Americans, plunging over $39 billion into Australia, followed by the UK, China, Japan and Switzerland

Links:

• Additional detail is on the Foreign Investment Review Board website at www.firb.gov.au.
• Australias-properties-for-sale/

• Foreign government investments in Australia

• China accused of land grab

• 50 Australian resources projects worth more than $500 million that are majority foreign controlled

The other benefit from owning  real estate  which can be  appreciation of value of  your property plus possibly a regular income flow  but also significant tax benefits.  some tips to benefit from property ownership during tax time.

Tax deductions for property *

If you own a property  and you are getting rental income from it you can qualify for certain tax deductions based on your circumstances. Some standard claimable deductions are listed below.

• Advertising costs ( To find tenants)
• Agents Commission (To collect the rent)
• Rates and Land Taxes
• Depreciation
• Travel costs to inspect property
• Repairs
• Security costs
• Insurance on buildings
• Water and sewage
• Interest on borrowings

Rent and rental expenses

Tax needs to be taken out from rent received by you  when its received into or credited into your account. Rental expenses claimed can be disallowed  if you are renting a house or property to a relative or family and you are not charging them the going commercial rate in the market.

Capital gains Reductions

If you sell a investment property  12 months  after you buy it only 50% is taxable. This can apply to Land as well as Holiday homes.

Residence  exemption

Claiming tips

Keeping a separate account for your property income and expenses can ease the pain of record keeping.

 

It is not necessary for you to get a Australian Business Number (ABN)  if you want to lease a residential property.

 

Keep all your receipts for expenses for yuour tax deductible expenses to be easily verified.

More technical property deductions

In some cases  a building write off deduction can also be claimed  at the rate of 2.5 % per year

If you make a capital gain after you retire and turn 60  from the sale of the property , the gain could be tax free if  that property  was owned by your self managed superfund and would be not included in your taxable income.

Capital gains can be reduced on sale of holiday homes  by holding on to receipts of non –deductible expenses incurred while maintaining the house.

In some cases depreciation schedule will be necessary to maximise your allowable tax deductions on any property that you own as an investment.

* Before claiming deductions it is advised to see a professional accountant or tax agent  to verify that you are correctly claiming the  deductions that are allowed to be claimed without incurring any penalties in the future.

Is your property agent licensed

Its not aussie slang but just kosher slang !! ,  when we ask you if your property agent is proper!!

Most of the times  property agents are good for property investors  and people who want to buy and sell a house or property, but get the wrong property agent or not a professional one and “boy oh boy “ you can be in trouble or even a big loss. Ask me i almost got gyped a cool $10,000 dollars  when i did a property settlement of my previous house  to buy  my new property  , just because  the bank officer  ( of a big  reputed bank) was not well informed about settlement procedures and transfers.

With real estate buying and selling and property managing, you dont have a guarantee always that you are getting the best person to manage your property,  but thankfully at least you can take precautions. One such way is at least to check if your property manager is properly registered (Licensed) and accountable.

Check for Licensed Real estate and property agents

The Queensland  government  for office for fair tarading  hold a public register of licensed property agents and registered salespeople. To be real estate agent  or act as a property manager in Queensland, you must be registered with the Office of Fair Trading.

On this page here at the office of fair trading, Queensland  ->. property-agent-licence-check

you can search all  licensed property  and real estate agents. May also be beneficial to look around the site and see what other search registers are available. You can search this register online for free , but if you want a record of your search  with more details you can get it for a fee ( click the link above for more info).

NSW – Property services licence check

To check the details of a particular agent, salesperson or manager, please proceed to ‘Start licence check’ button below. For further information and assistance, contact NSW Fair Trading on 9372 9299.

Start licence check

If the above button does not work visit this page-> NSW CHECK

WA – Real Estate and Business Agents licensing

In Western Australia, individuals, partnerships or companies wishing to operate as real estate or business agents are required, under the Real Estate and Business Agents Act 1978, to be licensed and hold a current triennial certificate. More details here

You could possibly do a check  for licensed property agents in your state by  checking at your state fair trading website ( or equivalent of the fair trading website ) in your state  for more details.

1.Managing Your Investment Property: The Essential Guide to Property Management in Australia and New Zealand -Rachel Barnes

Book –> Managing Your Investment Property: The Essential Guide to Property Management in Australia and New Zealand - > Full review here

2. The Australian Dream and $1 Properties

BooK – > The Australian Dream and Properties

3. Mastering the Australian Housing Market

Book –> Mastering the Australian Housing Market - > Full review here

4. Buying a Home in Australia: A Survival Handbook

Get the book –> Buying a Home in Australia: A Survival Handbook - > Full review here

5.How to Create an Income for Life – Margaret lomas

Get the book –> How to Create an Income for Life - > Full Property Investment books review here

Its a busy time for property investors as they near the end of the financial year. There aren’t many investors in the current property market, due to people being cautious about property investment.

But this might be about to change as rental vacancy rates across Perth are falling. Rising rents are also an indication that we are entering another phase of the property cycle. Currently its a buyers market with more than 17800 properties for sale on the market.

There is still reasonably tight vacancy rate that assures the investor a large selection of keen tenants. This definitely is getting renewed interest from investors in buying rental properties to cash-in on the favourable rental market.

Tips For Property Investors

• Better investments are more preferred in suburbs which have a consistent population growth, such as near the city or fast growing regional centres.
• Prospective investment properties should be easy to maintain.
• Close to public transport, shops and schools. The potential of educational institutions and community infrastructure can increase the value of the investment property.
• An ideal investment location is where the demand for rental properties exceeds the supply. But investors need also to balance the cost of the purchase with the return on investment based on the rent in that location.
• If a property is chosen with prospects of good grow in value, it can be an added bonus of capital growth to the property in addition to the negative gearing (tax deduction) you can receive.
• Another tip to good property investment, is to look for under valued houses in a pricy suburb or in a suburb close to a established suburb.
• Re-developing properties is another good way to maximise your property investment. Choosing one block with re-development   potential for multiple blocks can maximise your return.

Data and research in relation to making these important property investment decisions could always be sourced from websites like Realestate.com.au, Rpdata, Rismark and REIWA. Make sure you always discuss plans with your bank, mortgage broker and financial planner first.

Happy Holidays !!

1. Real estate.com.au

Australia’s biggest and best real estate and property listing No. 1 real estate site. Real Estate Directory

Website : www.realestate.com.au

2. Domain.com.au

Real Estate for Sale, Rent and Share @ Domain.com.au

Real estate @ Domain.com.au. Houses and apartments for sale or rent all over Australia. …Compare home loan

Website : www.domain.com.au

3. Reiwa.com.au

Real Estate Institute of WA – reiwa.com.au

Real Estate & Property in Perth & Western Australia. Homes for Sale, Rental Properties, Land for Sale, Real Estate Agents, & Real Estate data, FAQ’

Website : www.reiwa.com.au

4. Suburbview.com

Suburb View searches the Suburbs you want, from Australia’s Largest Real Estate sites. Search for your Suburb and if any Real Estate listings are found

Website: http://www.suburbview.com/

5. Homehound.com.au

Search 200000+ real estate listings, homes for sale, rental properties, land for sale and holiday accommodation rentals from 4000 real estate agents on

Website: http://www.homehound.com.au/

Australian Individual Real estate websites

Some other top agencies with their own real estate websites are Ray white , LJ Hooker , eldersrealestate.com.au , harcourts.com.au , mcgrath.com.au , raineandhorne.com.au , remax.com.au

And some related industry Property websites

http://www.open2view.com.au/

Top 10 us real estate websites

Deep in debt ?

Too many loans you cant keep up repayments with  ?

In trouble with credit card debts ?

Debt Consolidation – Life saver or  Rip off

Go to any bank or  financial consultant   with his kind of problems and it is likely they will mention a solution called “Debt consolidation”. True  Debt consolidation can be a savior for some , but It surely can also put many people in a financial situation worse off than they already are.

How you may ask , is that possible ?

Lets take a  simple example with  without any figures or loan repayment percentages to make it easy to understand ?

Say you got  three debts

1.Credit card  – Term  Rolling

2.Car loan –  Term  5 years

3.Personal loan  – Term  5 years

Taking an example of the above loans getting consolidated into a (Home loan –  Term 30 years )

Now given that these above  3 loans that  you have taken  are for short terms ( rolling and 5years) and you are paying interest only for a shorter period,  this totally changes when you lump it together with your (Not so Short ) 30 year Home loan. which means  Now you  are paying interest  for a 30 year term on those loans  instead of 5years, which can make you repayments go for thirty years instead of five , which in many circumstances  you can end up paying much more than you intended too.

Debt consolidation with refinancing loans

With debt consolidation loans  or refinancing loans the lender can end up charging you higher interest rates than you’re paying now — as high as 21% or 22%. “Your monthly payment may be lower” with one of these loans, “but you’ll end up paying more,” Personal unsecured debt consolidation loans carry high interest rates, sometimes higher than credit cards.

Help :

http://www.nfcc.org/

You can get help from an organization like National Foundation for Credit Counseling (see link to left). NFCC has branches throughout the country; they are a non-profit, community organization that provides free and confidential debt management advice to anyone who needs it. You can even consult with them over the phone

Sometimes it is better to negotiate settle the debt  in a debt settlement strategy. Check out this book  which describe a easy way to get out of debt. There are some softwares for reducing and managing debt as well that is available on the market

Links:

Avoid-the-trap-of-debt-consolidation/

http://moneycentral.msn.com/content/savinganddebt.asp

1. Paint The house -

This is a great way to make your house stand out from many others around it. A fresh new paint coat will give it a clean cut look that any potential buyer or tenant is looking for. And when choosing a paint color, don’t just choose the cheapest. Use sound judgment in your choice of contemporary colors or appropriate colors for the age and style of the house.

Make sure that you don’t just paint everything the same color either. Use contrasting colors on the window frames, doors, and shutters.

2. Change the mail box –

This is a very  simple fix but can pay big dividends and make a difference to the entrance of th house and creat a good first impression . It is part of creating curb appeal. You want to draw the buyer or tenant toward the house not drive them away. Mail boxes are usually made of cheap material which can deteriorate quite quickly and look bad. Reinstalling a sturdy plastic box seems to be the best choice over metal boxes which can dent and rust.

Sticking the house numbers on the new box is also a plus

3.  Landscape -

There are many simple things outside the house,  in terms of landscaping  and designing that can be done to draw potential tenants or buyers to your property. The first thing that can be done is simple , just dig some beds in the front of the house and around the perimeter and throw down some mulch. Plant some good looking shrubs or small trees like barberries or spirals next to the front steps or entry.

Plant them in some type of symmetrical order to maintain the neatness of the property. Flowers can also be planted in those areas like bulbs along the side of the house or various types of flowers among the shrubbery in the front. Keep the grass cut and looking neat.

Fill in bare spots with soil and seed and keep moist to make sure it will take root. A manicured lawn can work wonders on the overall appearance!

4. Install a garbage disposal

in the kitchen sink! Not long ago,  it may have been considered a luxury to have one but these days more and more people are wondering how they could do without one. Again, you are thinking about an addition that costs a relatively small amount of cash relative to the return it will generate with a potential buyer or tenant.

5. Install a dishwasher-

Again, as with the installation of a garbage disposal, a dishwasher is now a modern convenience that few know how to get along without. If your property does not have one, you can install one fairly inexpensively to enhance the facilities and therefore value. This in turn will attract more potential tenants or buyers at a much higher rate, you will be able use this to depreciate this asset so it creates a tax benefit, and the general value of your property will rise.

Following these  tips will definitely help add value to your property. You must think about the value added when performing these various  tasks. If you take this advise, you will not be disappointed at the value this will create for yourself and the happy buyer  and your potential buyer or tenant will be more likely to choose your property over another.

In addition to his managing your property well can also benefit you , check out this book which might help you get a few tips.

Did you find this article helpful. If so then go to the following

link which I believe is a tremendous value for any investor or property owner. Go to http://www.virtualdealfactory.com/r/rmerrick

Article Source: http://EzineArticles.com/?expert=Ryan_Merrick