Southern Homes : April 21st 2011
2 Thursday, April 21, 2011 Southern Homes Mobile Real Estate NZ Ltd MREINZ Licensed Real Estate Agent (REAA 2008) Karen or David Slaughter 299 6661, 0274 949 712 John Slaughter A/h 299 7958, 0274 850046 $229,000 HANDY LOCATION Nicely presented, 2 brm unit. Spacious, open plan living & single internal access garage with auto door. Set on a private, easy care, fully fenced, ROW site. Handy to transport & town. NEW LISTING Ph David or John ID MRN10452 2/11 WELLINGTON ST., PAPAKURA $269,000 EXCELLENT LOCATION, Short stroll to town. Neatly presented 2 brm, Brick & Cedar unit, int acc single gge & auto door. Sunny open plan living flows to north facing patio. Ph David or John ID MRN10496 $279,000 REALLY CLOSE TO TOWN A tidy 2 brm unit with sunny, open plan living including the sunny conservatory, pleasing outlook to Central park. Sep single garage. Just metres to the main street. Ph John or David ID MRN10538 $289,000 GROVE RD Immaculate presentation, 3 brms, spacious, open plan, sunny living. New carpet 1 year ago. Set on a fully fenced, easy care, rear site with separate, single garage & own driveway. NEW LISTING Ph David or John ID MRN10543 REDUCED TO $289,000 3B R M S ,2B T H R M SAttractive Cedar home. Upstairs 2 brms & bthrm, downstairs 3rd brm, bthrm & open plan living flows to sunny veranda & fenced outdoors. Dble gge, own driveway. Ph David or John ID MRN10411 4 CAMERON PLACE, DRURY BIG REDUCTION TO $312,000 Motivated Vendor, 3 brm, ens home. Upstairs master brm, ens, extra wc & open plan living flows to lge deck. Downstairs 2 brms, bthrm & dble int gge. Handy location. Ph David or John ID MRN10479 $319,000 IMMACULATE LOCKWOOD Appealing 3 brm home with nice indoor/outdoor flow to extensive decking & manicured garden. Modernised kitchen, open plan living with Kent fireplace. Quiet cul de sac. Ph David or John ID MRN10533 20B WILLIS RD., PAPAKURA REDUCED TO $329,000 Neatly presented 3 brm, B&T t/house with dble int access garage, auto door. Sunny living with open plan dining & kitchen. Private ROW position, handy location to town. Ph David or John ID MRN10534 $385,000 IDEAL FAMILY HOME Lovely 4 brm home, 1st time on the market. Kent fireplace, HRV System, lots of cupboards & Dishwasher in the kitchen. Dble gge, carport & extra parking space. Fenced 708m2 sec. Ph David or John ID MRN10521 REDUCED TO $359,000 REMBRANDT PLC, OPAHEKE Neat 3 brm plus home. Spacious, sunny living with int acc to Rumpus area, plus hobby room & dble garage converted into a large work from home office. Ph David or John ID MRN10537 $389,000 OPAHEKE & ROSEHILL SCHOOL ZONE Recently refurbished, attractive 3 brm, B&T with aluminium joinery. Modernised kitchen, Kent style fireplace. Gge & carport. Lovely, fenced, back garden. Ph David or John ID MRN10530 $429,000 PAHUREHURE Next to Ray Small Park & Central School. An attractive 3 brm, B&T home. Spacious, open plan living, modern kitchen, semi-en suite & extra toilet. Dble gge, road frontage, 624m2 sec. Ph David or John ID MRN10531 $449,000 RED HILL- PANORAMIC VIEWS Stunning views to the Manukau. Appealing 2 brm, mod kitchen, spacious, sunny home. Full basement, double garage & huge workshop space. 1131m2 sec Ph David or John ID MRN10540 $489,000 NEG YOUNGS RD-JUST LOVELY Spacious 4 brm, ens home. Private, ROW, 769m2, fenced sec. Excellent presentation, modern kitchen, tasteful decor. Living opens to sunny deck & garden. Dble int gge. Ph David or John ID MRN10490 $499,000 PAHUREHURE ENTERTAINER Spacious 3 brm, 2 bthrm home + office & Family rm. Good size dining & lounge with easy flow to a delightful outdoor entertainment area & garden. 3 car int acc gge. Ph David or John ID MRN10541 8 step plan to kill your mortgage By ALLISTAR WALKER I talk about a plan because often when people take out a mortgage, there is no concrete plan, but rather fuzzy, mentally recorded objectives. The amount of borrowing that you consider should be part of an overall written plan that meets with your ultimate goals and values backed by a robust strategy to achieve these. Most people who take a mort- gage over their own home want to get rid of this death-grip as soon as possible. By adhering to a plan and a few basic principles this can be more easily achieved. 1. Make regular repay- ments as large as possible. For instance, our basic philos- ophy is to make your minimum loan repayments based on an 8 percent interest rate over 25 years. The loan may well be taken out for 30 years and also at a low rate of 5.75 percent per annum. The higher the repay- ments the faster the loan is repaid and you can do what really matters in life - LIVE. Say a $300,000 loan takes 30 years to pay at 6 percent per annum with repayments of $1800 per month. For a start over that 30 year period it is unlikely that you will experience 6 percent per annum for any length of time. The same loan scheduled over 25 years at 8 percent will increase repayments to $2316 per month. The average interest rate over the last 30 years is a little above 7.5 percent. So by setting your repayments higher, you will achieve more principal reduction under our current extended low interest rate regime. When rates do go above 8 percent you will have money in the bank so to speak and will probably not need to increase your repayments to meet the higher interest rates. Such a strategy as outlined above could take up to nine years off your mortgage, all for the sake of an extra $12 to $13 per day or a couple of coffees and a bun. 2. Make lump sum payments. We advocate that people cre- ate a reserve fund buffer , pref- erably deposited at another bank or safe house. However once this is done, then any windfalls of money should be used to knock off the mortgage, to further enhance the drive to being mortgage free. Already the coffee tastes sweeter. Analytically this makes sense as well. Taking that you pay an average of 7.5 percent after tax for your mort- gage, you would find it difficult to get a guaranteed, risk free 7.5 percent per annum after tax performance on your lump sum investment. 3. Pay your mortgage when you are paid. If paid fortnightly, pay the mortgage fortnightly and if paid monthly, pay it monthly as soon as you are paid. There is a lot of misinfor- mation in the market place about fortnightly vs monthly. The simple fact is that the more and quicker you pay, the quicker the mortgage is repaid. There is no magic or benefit for those being paid monthly, to repay the mortgage on a fort- nightly basis. The magic is in the numbers ie 12 monthly payments of say $100 per month is $1200 per year. The so-called fortnightly advocates work on the fact that if you halve the monthly amount then pay this fort- nightly ($50 per fortnight) you now pay off $1300 per annum (26 x $50). Effectively you are paying more off, but it makes no sense for those on monthly incomes to hold off some repayment for a fortnight. 4. Use a revolving or reducing credit account. This facility can be used to pay your salaries into and draw expenses from. Often there is a monthly charge and it is a ques- tion of weighing the advantages of not having funds sitting around idly waiting for you to spend them and so reducing your interest bill as against any charges that may apply. 5.Check your statements. Banks do make mistakes. Sometimes they may not change your interest rate when you fix, or strange debits could appear on the account. 6. Beware of flashy prem- ises. Mortgage reduction agencies and no-deposit loans are risky. There are fish-hooks and you should talk to a Registered Financial Adviser before paying any money for these offerings. 7. Keep the mortgage alive. When the loan is repaid, don t have your mortgage released. This way if you need to borrow in the future, say for alter- ations, a trip, a car, you already have the documentation in place. Hence no need to go through the expense and rigma- role of re-registering a mort- gage. 8. Consult a registered or authorised financial adviser. This will be an accredited mortgage adviser who will ana- lyse your position and provide individually tailored advice for you in line with your goals. DIY is not always the best option when it comes to structuring mortgages, insurances and savings. For little or no cost you can set up your strategic plan with someone who understands the numbers and the vast range of products available to achieve what you want to do. In fact it should save you heaps in the long haul. Care has been taken to ensure that any information is accu- rate. No liability is accepted for its use. Enquiries are welcome. Allistar Walker is a Senior Fellow of Financial Services Institute of Australasia and an accredited mortgage/insurance advisor. His full disclosure is available free at www.mortgage help.co.nz. Phone 410-6023 or email@example.com. Prices show signs of life Auckland s property market is showing signs of recovery, with Auckland property sales last month the highest they have been since the market last peaked in November 2007. Figures released by the Real Estate Institute of New Zealand this week show property sales in Auckland during March up 11 percent on the same time last year. Erskine+Owen director Lisa Phillips, a prop- erty investment specialist, says although the house price index for Auckland is still slightly lower than when compared to the 2007 peak, the increased level of sales activity means the market is moving in the right direction. She says as demand strengthens and sales activity grows, it will translate into an increase in property prices. Ms Phillips says a drop in the Official Cash Rate and rising rent prices are incentivising more people to buy. The floating rate is currently the lowest it has been in 46 years. This also means an improvement in yields for investors, and with rising rents and lower interest rates it is becoming more attractive to buy than rent, she says. But the increase in market activity comes with a warning -- a growing demand for prop- erty will put more pressure on Auckland to supply housing at a time when the region is already predicting a housing shortfall. It is still unclear as to how many Canta- brians will look to permanently relocate to Auckland following the earthquake, but it is clear that Auckland will struggle to have the capacity to house them," Ms Phillips says. While property prices in Auckland appear to be on the way back up, the same can t be said for the market nationally. House sales volumes throughout the rest of New Zealand were five percent lower in March than on the same month last year.
April 14th 2011
April 28th 2011