Monthly Archives: February 2013

MARKET UPDATE VALENTINES DAY 2013

In no particular order….

“THE Gold Coast has some of the worst performing suburbs in the country when it comes to mortgage delinquency, according to the latest Fitch report.”

From the local paper –

“SALES of more than $34 million have been racked up in the $850 million Soul supertower in Surfers Paradise. Property records show sales of seven apartments in the 77-storey tower settled at the end of last year for a total of $12.02 million. Since December, 17 new deals were stitched up worth $22 million. The highest-priced property was a $4 million two-level subpenthouse….” Continue reading

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CHECK YOUR INSURANCE POLICIES

Friends of mine in the USA checked their policies and found that the “excess” payable in case of storm damage was around $600.00 per claim.  However, if the damage was caused by a storm “named” by the National Weather Service (i.e. Hurricane I’m Gonna Getcha, or Tropical Storm Pineapple, or Winter Storm Snowy) then the “excess” rose to over $10,000.00.

Here in Australia, friends who’s houses are located 100 metres above the highest ever recorded flood level have seen their premiums skyrocket after the floods.  Many have successfully battled their Insurer (or gone elsewhere) and have secured a huge reduction from the premium originally quoted.

I know it’s boring and tedious but please, and the sooner the better, pull out your full policy document, or download a copy from your insurance company’s website, and take a long hard look at what is covered, but more importantly, what is not and when.  You may be in for quite a surprise.

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THE MARKET – STARTLING FACTS – 01 FEBRUARY 2013

The market and how it’s reported sometimes makes me laugh – then cry…

Take an article on the web today from news.com.au under the banner of “Sydney’s housing recovery on a firm footing according to the RP Data-Rismark Home Value Index” where they spruike that the median price of EVERY capital city has risen in the month of January 2013 (except for poor old Darwin).  They say, and I quote; “National values rose 1.2 per cent for the month, according to an aggregate of the eight capital cities.”  Are you kidding me?  Follow that reasoning and we’re looking at an annualised growth rate for 2013 of over 14%!  WOW – gotta buy me several houses and FAST!

Continue reading

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