The new financial year brings a fresh opportunity for first home buyers. If you have kids or grand-kids who will be looking to buy their first home sometime in the next decade, or you are still hoping to achieve that goal yourself, the Government’s new First Home Super Saver Scheme (FHSS) is an absolute no-brainer. http://www.switzer.com.au/the-experts/paul-rickard/a-no-brainer-for-first-home-owners20181904/ Peter Mericka B.A., LL.B – Australian Legal Practitioner, Consumer Advocate and Principal of Lawyers Real Estate Pty Ltd...
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An amusing, but not-so-far-from-the-truth examination of what often happens when lawyers stuff up. If you’re a lawyer DO NOT rely on the first set of tips! One of the dark and dirty secrets about practicing law is that attorneys sometimes make mistakes. That’s because, as you may be surprised to learn, there is a human being lurking inside of each of us. Overturned cases get cited as good authority, numbers get transposed, and that one...
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The author identifies areas that may be of interest to those considering investing in commercial real estate. According to the most recent data released by Colliers in their Metro Office First Half 2018 report, investment returns in metro office markets are at their greatest levels in over ten years, and annual effective rental growth in North Sydney, St Leonards and Chatswood in Sydney, as well as St Kilda Road and the Melbourne City Fringe has...
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Here’s an interesting rejoinder to what the author describes a the “hysteria surrounding the Royal Commission”. We’ve all heard the admissions of misconduct from major institutions at the Royal Commission, with their statements a sad reflection on the conduct and governance of the banks. Whilst these revelations have given the media their headlines, the reality is that the vast majority of lenders act with their customer’s best interests at the forefront of their thinking. http://www.switzer.com.au/the-experts/adrian-sheahan/the-royal-commission-a-loan-writers-perspective20181505/ Peter...
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There are plenty of reasons why people sell up and move, but with cheap money available it can make more sense to renovate the family home, as explained by Greville Pabst: The logic is, if you are purchasing a home for $1million, the buyer has to add a further $100,000 for stamp duty, legal costs, agents commission and other charges, if they have to sell an existing property and so on. For that amount...
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Commission is an inherently unfair method of remuneration, completely unrelated to the time, effort and skills associated with real estate sales. This is why carefully worded contract is needed to create an “entitlement” to the windfall that is commission. It will be interesting to see how this debacle plays out, and whether it will change the way salespersons in this industry are paid for what they do. Melbourne firm SLF Lawyers, which has issued...
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Is traffic congestion likely to be a factor in your home-buying decision? A home that is within walking distance of public transport may be worth more than you realise. History tells us that anything done to reduce travel times between where we live and work has fundamentally changed the value of homes in affected areas. http://www.switzer.com.au/the-experts/john-mcgrath-property-expert/budget-targets-traffic-congestion-to-improve-city-living20181504/?utm_medium=newsletter&utm_source=switzer-daily Peter Mericka B.A., LL.B – Australian Legal Practitioner, Consumer Advocate and Principal of Lawyers Real Estate Pty Ltd and...
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Could the Reserve Bank be planning an interest rate hike later this year, perhaps on the day that traditionally stops everyone across the nation except those on the RBA Board – Melbourne Cup Day? by David Bassanese Maybe, just maybe. Indeed, just when every economist around the country was prepared to write-off yesterday’s release of the RBA’s minutes from its recent policy meeting as nothing new, the Bank saw fit to drop an added line...
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The test of the value of this Royal Commission is going to be what authorities do to change what happens in the finance industry. What is being revealed is not new knowledge — it’s just being made more public. by Peter Switzer Anyone like me who works in finance knew that financial planning had its problems. But I still doubt ASIC’s Deputy Chair, Peter Kell’s submission that nine out of 10 advisers are not considering...
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A new penalty regime targeting foreign investors has seen 500 overseas property buyers issued with penalty notices and told to pay the Australian Taxation Office $2.7m in fines. The majority of breaches occurred in Victoria, New South Wales, Queensland and Western Australia. In December 2015 the federal government introduced a range of new penalties for foreign investors, including new civil penalties supporting divestment orders, fines for third parties who knowingly assisted foreign investors to break...
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