When it was sold, it was the second time that the town had been put up for sale. It was previously being offered for $1.1 million US, but it recently sold for only $370,601 US in April. The town was not listed as a distressed property since businesses are being leased for approximately $3000 monthly. It also has a great location close to Whistler BC in Canada.

Unusual properties for sale

There are many other unusual properties that come up for sale. Last year a Gothic castle covering 8250 ft.² with spires and turrets sold for $1.5 million US in Harlem. The skinniest house in New York was sold for $2.1 million USD in Greenwich Village. The house measures only 2.9 m wide by 9.1 m long.

The most expensive home in the world is listed in Mumbai Indiana. It is the first house in the world that goes for more than $1 billion.

There are a lot of unusual properties you can get your hands on at auctions. These sites seem to attract people that are shopping for something a little out of the ordinary and these homes certainly fit the bill! EBay draws a huge crowd of both buyers and sellers, so if you are looking for something out of the ordinary it is the first place you should check. You may also find some interesting homes at local auctions in the area.

Keep your eyes open for a new auction that starts on June 2, 2010. A 2 level Victorian terrace will be optioned off. A bloody battle between the union squatters and police occurred at this home and it is your chance to own a piece of history from Newtown Sydney. Then keep your eyes open for more unusual homes being listed as well. You never know what you will find at an auction!

This article was written by William Eve. William writes about real estate and investment loans for mortgage comparison site HomeLoanFinder.

Mortgage Choice

Mortgage Choice has surveyed First Homebuyers to get an understanding of what rate rises might mean for them and the property industry at large.

An increase of just two percentage points puts more than a quarter of Australians looking at their first home out of the race. However it should be noted with a rate rise and the fleeing of potential buyers will put downward pressure on property prices negating some of the downside risk.

The survey by Mortgage Choice shows that the majority of First homebuyers are buying to secure their  longtime financial security, and with the instability of the share market of recent times it’s no wonder Australian’s back the property sector.

The survey did raise a few concerns as Kristy Shepard from Mortgage Choice points out “The survey results also highlight a lack of consumer awareness regarding changes to lending criteria that now restrict property buyers from borrowing without a deposit. 8% of our respondents intended to borrow the full purchase price.

It’s not all doom and gloom, Kristy said, “It’s terrific to see our survey results showing up-and-coming first homebuyers acknowledge the long-term benefits property investment has to offer. Importantly, the majority understand that good savings and making lifestyle sacrifices get them into good habits and get them through the door sooner.”

How will they cope with interest rate rises?

“It was encouraging to find that, when asked to answer with a mortgage interest rate of 7% in mind, almost one quarter – 23% – of respondents said they could afford a rate increase of between four and five percentage points before they would give up on buying their first home in the next two years. Of these, a staggering 61% said they could afford a rise of above five percentage points,” said Ms Sheppard.

20% of respondents said they would drop out of entering the market if rates rose 3-4 percentage points, 29% would give if rates rose by 2-3 percentage points, 21% would if rates rose by 1-2 percentage points and 5% would if rates rose by 0.25-1 percentage points. 2% would give up at the next 25 basis point rate rise – as of Tuesday these people would no longer be looking to purchase their first home.

How will upcoming first homebuyers finance their purchase?

Tighter lending criteria is forcing all borrowers, not just first homebuyers, to meet tougher requirements such as providing evidence of genuine savings over consecutive months. The majority of first homebuyers-to-be are taking this advice on board and saving good-sized deposits before purchasing.

When it came to property financing, these were the responses:

• <8% will borrow the full purchase amount (compared to 12% in 2009).
• <19% will contribute 5% deposit and borrow the remaining (22%).
• 34% will contribute 10% deposit and borrow the remaining (25%).
• 8% will contribute 15% deposit and borrow the remaining (9%).
• 17% will contribute 20% deposit and borrow the remaining (14%).
• 12% will contribute more than 20% deposit and borrow the remaining (14%).

Other key findings

• 65% will purchase their first property with a partner, friend or family member/s in a co-ownership agreement, in comparison to 71% in 2009.
• 52% will purchase an established home, compared to 71% in 2009.
• 51% have ‘some idea’ about the purchase process; only 12% said they were well informed.
• 53% said their largest concern was the time it takes to pay off the loan and own outright.
• The most common sacrifices being made in order to buy were: cut back on spending (96% this year, compared to 93% in 2009), miss out on a holiday (60% vs. 59%), purchase a less expensive property (31% vs. 33%) and take on an additional job (26% vs. 23%).
• The most popular predicted mortgage size range for these first time buyers is between $300,001 and $400,000, as indicated by 33% of respondents.
• The most popular first point of contact for mortgage advice was a mortgage broker at 24%, then parents (22%). In 2009, brokers ranked first at 29% with the internet second at 18%.

If you’re a First Homebuyer and looking to make a purchase get intouch with Mortgage Choice:
Call the customer service centre on 13 MORTGAGE, visit www.mortgagechoice.com.au or www.facebook.com/MortgageChoice or http://twitter.com/MortgageChoice.

About the Survey

Mortgage Choice, Australia’s largest independently-owned mortgage broker, commissioned the independent online nationwide survey in late February 2010, asking a range of questions about first home purchase plans. The last first homebuyer survey was conducted in February 2009.

Tapping into your home’s equity, or equity from another property investment, can be a great launching platform for buying an investment property. According to Mortgage Choice’s latest investor survey, 60% of those looking to buy an investment property before mid 2011 plan to access the equity in their home in order to fund all or part of their investment property purchase. How does this work? Say your home is valued at $700,000 and you owe $350,000 on your mortgage, you can use the $350,000 equity in your home to pay for up to 100% of the new property, or if it is more expensive you may be able to borrow more with some lenders.

Pick a loan tailored to your investment strategy

Meeting lending criteria is only half the challenge; another big one is choosing a loan. Think carefully about interest only vs. principal and interest options. Although interest only loans will not reduce the loan amount, they do result in smaller monthly repayments and allow you to make greater contributions to your principal place of residence or to invest in another asset, all the while allowing the investment property to grow in value through capital gains.

Consult a buyers agent/property finder

Seek professional advice about what type of property will maximise your investment. Most investors want property to secure them (as an average over the entire loan term) an annual return on investment that is higher than the costs eg. if net rent is 3% and the interest rate is 7% then it only needs to grow in value at more than 4% to be profitable. Experienced buyers agents know the market better than most and are a valuable resource for advice and for negotiating with property sellers and/or their agents.

Positive vs. negative gearing

Expenses you incur on an investment property are tax deductible. If your loan repayments, fees and other property-related costs exceed your rental income, the net loss can be offset against other income you derive, reducing the amount of tax payable on that income. This is called negative gearing. Or, you may consider positive gearing, where the annual rental income received from the property covers or is higher than the repayments and costs.

Consider all the costs

It is crucial to create a detailed budget outlining your outgoings and earnings. Property investment usually incurs unexpected expenses and it is easy to go over budget on improvements and repairs. Don’t fall into the trap of relying on your property’s income to cover additional costs such as new hot water systems or interest rate rises. Also think about capital gains tax you will have to pay if you decide to sell the property. Be sure to consult your taxation advisor.

Call the customer service centre on 13 MORTGAGE, visit www.mortgagechoice.com.au or www.facebook.com/MortgageChoice or http://twitter.com/MortgageChoice.

This means consumers can feel good in the knowledge that Daily Essence is leaving a significantly minimal carbon footprint compared to other beauty and lifestyle brands in Australia.

To achieve the CarbonNeutral® status, Daily Essence had to prove the positive action it is taking to tackle climate change by completing an assessment with The CarbonNeutral Company.

The greenhouse gas (GHG) emissions that were measured included, how staff travelled to and from work, the electricity used both in production of the goods and in the offices, the amount of waste, the amount of printing, and suppliers that were used, such as freight. Daily Essence were then accredited CarbonNeutral® status when the Carbon Dioxide (CO2) emissions had been reduced to net zero in accordance with an international standard, known as the CarbonNeutral® Protocol.

Narveen Kaur, Founder, Daily Essence said, “CO2 is the most significant GHG produced as a by-product of human activity.

We are all responsible for producing CO2 however companies should be aware that they are able to make adjustments to cut CO2 and slow climate change. To get to net zero we have offset our emissions this means that we have counter balanced the emissions that we produce with emissions from a verified carbon saving project elsewhere in the world. These projects would not have happened without the carbon credit monies and we have chosen to support the Tirunelveli wind power project in India.”

Around the world, people and businesses are taking voluntary steps to cut their CO2 gas emissions. To emphasise the importance of a reduction in CO2, state, national and international governments have set and agreed on binding GHG reduction targets at numerous levels.

The latest scientific opinion is that to achieve a positive level of environmental sustainability, global GHG reductions of 80% are necessary within the next 50 years. This is a very significant challenge, especially in the context of growing emissions from developing countries and the affect this has on the environment.

Thankyou Water is a new brand of Australian bottled water using 100% of its profits to fund water projects in developing nations across Africa and South East Asia.

The Melbourne based team behind Thankyou Water are all between 18-21yrs old and have balanced their uni studies and part-time jobs to get the concept off the ground over the past eight months.

“Thankyou Water exists to bring a collision between two extremes, the world water crisis and Australia’s $600 million bottled water industry.” says Dan Flynn, 20, Founder.

After months of research, knock-backs, sleep-deprivation and convincing their parents they could pull it off, the first Thankyou Water bottles hit shelves around the country late last year.

The purchase of one bottle of Thankyou Water is enough to provide clean drinking water to one person for at least one month in the developing world.

“We’re not asking people to spend more money; we’re simply giving them a choice as to which brand they choose when they next buy a bottle of water.” Dan Flynn, 20, Founder.

The concept evolved after Thankyou Water founder Dan Flynn was impacted profoundly by watching a film clip of a boy exactly the same age in Africa and the lengths he had to go to just to obtain drinking water for his family.

After Dan’s personal revelation of just how desperate the water crisis in the developing world is and learning how much money Australians spend on bottled water he felt compelled to do something.

The first project that Thankyou Water is partnering with is through Australia for UNHCR in the Nakivale Refugee Settlement in Uganda Africa. The Nakivale project aims to provide water to 5,000 refugees within the camp.

“We have strict criteria that projects must line up with to receive our support. In Nakivale, the average person is walking 4km everyday to receive just 8L of water, half UNHCR’s recommended amount. The freedom from collecting water daily will allow refugees to focus on family, health and education,” Nicolette Beets, 20, Charity Project Director.

“People have laughed at the Thankyou Water concept, often saying it was a great idea but would be impossible without spending at least $5 million in advertising, I think one of the best things about our generation is we sometimes have selective hearing when it comes to the phrase it can’t be done,” Morgan Ranieri, 19, Marketing Director.

The Thankyou Water team addressed the crowds at Melbourne’s Youth Tick March in January and have been invited to speak at various schools around Victoria already inspiring the next generation to think bigger than themselves.

Thankyou Water sources and supports projects through established charities, such as Australia for UNHCR (United Nations Refugee Agency), providing funding for a diverse range of water-based projects.

Thankyou Water is stocked in participating cafes and universities throughout NSW, VIC, WA, SA and QLD. For further information on Thankyou Water please visit www.thankyouwater.org

Photo: Nicolette Beets, Dan Flynn, Jarryd Burns, Morgan Ranieri & Justine Hart – the team behind Thankyou Water

With interest rates almost certainly as low as they will go for another few years and extra money on offer from federal and state governments to purchase a first home, now could be a great time to stop paying your landlord’s mortgage and start paying your own.

The key to your new home is to plan early.

Senior corporate affairs manager for Mortgage Choice, Australia’s largest independently-owned mortgage broker, Kristy Sheppard said, “With the deadline for the full First Home Owner Boost approaching at the end of this month, there is a sense of urgency among many potential first homebuyers, which means lots of keen competition for the same types of properties and within the mortgage market.

“For this reason, keep in mind it may take up to four weeks to gain loan approval, depending on the chosen lender.”

“It is important first timers understand the importance of planning ahead in order to reach their goal of home ownership, especially those aiming to purchase before the boost expires completely on 31 December 2009.”

First time buyers need to also overcome tougher lending restrictions. For some time now lenders have been tightening up on borrowing policy, especially for loan amounts above 90% of the purchase price. For example, many now require borrowers to contribute at least 5-10% of the property purchase price towards their deposit in the form of genuine savings accumulated over a period of at least three months. This excludes any government incentives or grants, such as the FHOB.

“As tempting as the offers may be, first time buyers shouldn’t let extra incentives sway them if they aren’t sure about a property, or their ability to make loan repayments and meet associated property ownership costs, particularly as interest rates are set to rise. The key is to start preparations well in advance so that they are better equipped to take advantage of opportunities as they arise,” said Ms Sheppard.

Purchasing a first home is often the biggest financial commitment many Australians will make.

For this reason buyers need to ensure they have adequate savings to meet current lending criteria and additional costs including but not limited to, lenders mortgage insurance (LMI), conveyancing/solicitor fees, property/pest inspections, loan application fee, property transfer fee, mortgage registration fee, property stamp duty, council rates, water and electricity bills plus living expenses.

“Due to the rising cost of home ownership, there has been a noticeable drop in the number of first time buyers purchasing alone. The Mortgage Choice 2009 First Homebuyer Survey revealed 72% of people planning to purchase their first home this year were doing so with a partner (64%), family member (5%) or friend (1%),” Ms Sheppard said.

“Sharing the responsibility is a great way to get ahead assuming all parties are committed to the purchase, able to meet repayment levels and have a solid agreement in place should one party decide to opt out of the deal.

“First time borrowers shouldn’t feel as though they have to do it on their own even if they are purchasing solo. Reputable brokers such as Mortgage Choice don’t charge customers for their residential loan services, such as helping first homebuyers search for a suitable home loan. They are also happy to check and submit the First Home Owner Boost application on the borrowers’ behalf.

“There really is help at hand for those who feel rushed and need a guiding hand through the mortgage maze. Brokers can assist by showing practical tips for meeting the genuine savings criteria, helping maximise their borrowing capacity and putting in place a plan to meet lenders’ requirements so borrowers can take advantage of first home owner incentives.”

First homebuyers who sign a contract to purchase or a contract to build before 30 September 2009 may be eligible for the grant boost totalling $14,000 for established homes or $21,000 for newly constructed homes, in addition to state or territory based incentives available in the purchase location.

From 1 October 2009 until its expiry on 31 December 2009, the FHOB will be halved. During this period, first homebuyers may be eligible for $10,500 for established homes or $14,000 for newly constructed homes, in addition to any state/territory-based incentives.

On 1 January 2010, the FHOB will no longer exist and first homebuyers will be eligible to receive only the original $7,000 national First Home Owner Grant plus any state/territory-based incentives.

Call the customer service centre on 13 MORTGAGE, visit www.mortgagechoice.com.au or www.facebook.com/MortgageChoice or http://twitter.com/MortgageChoice.

It’s estimated that over 100,000 couples either separate or divorce in Australia every year impacting parents, children, family and friends.

‘Having gone through a separation, I knew first hand that there was a need for local information, resources and support that could help guide parents through this difficult time. A place where they can take stock of the situation and access information, support services and helpful tips to help ease them through the process” says Two Homes Founder, Rebecca Jackson.

‘Separating is hard enough; no-one should ever feel as if they are going through it alone, because they’re not,’ states Rebecca.

Finding clarity and focus amidst the emotional haze of a separation is a major benefit of using the site, by being able to freely access a wealth of information, tips and tools to guide people through the process, anytime, 24/7.

The site provides a comprehensive one stop place for everything to do with separation and ongoing management as a single parent; with designated areas for men and women, inclusive of carers, grandparents and the broader community.

Browsing the website, you can also find real accounts of people’s experiences; tips and advice on all matters pertaining to separation and divorce; articles on priorities, checklists and emotional wellbeing.

‘Two Homes is a reassuring bridge between adjusting as a separated parent and thriving as single parent,’ concludes Rebecca.

About Rebecca Jackson
Two Homes was founded in 2008 by single mother Rebecca Jackson in response to a lack of information in one site on how to best manage a separation from all perspectives.

Australians have revealed they favour sharing a glass of wine with Prime Minister Kevin Rudd this spring over their own partners, according to the LINDEMANS® Early Harvest Spring Index.

The LINDEMANS® Early Harvest Spring Index also shows the nation is looking forward to a lighter lifestyle this spring. This coincides with the launch of a new range of refreshing styles from LINDEMANS® Early Harvest, including NV Sparkling Rosé, Pink Chardonnay 2009 and Shiraz 2009, that are at least 25 per cent lighter in alcohol and calories*. Additionally, NV Sparkles and NV Rosé Sparkles are available for purchase in handy 200ml piccolos.

The LINDEMANS® Early Harvest Spring Index asked Australians who they would most like to share a glass of wine with during springtime, with the Prime Minister ranking an impressive third overall. Partners fell below par for Aussie women in particular, who ranked their partner a mere 18th in their order of wine date preference, compared with Australian males who placed their partner in their top 5.

Kevin Rudd also managed to beat Australian beauty Nicole Kidman, songstress Delta Goodrem, and funny man Rove. Australia’s sports stars fared worse, with ex-cricketer Shane Warne the only sportsperson to get into the top 25. Much-loved Australian actor Hugh Jackman took the coveted first place spot, and model Jennifer Hawkins came a close second.

While the LINDEMANS® Early Harvest Spring Index shows 7 in 10 Australians are looking forward to lighter evenings (76 per cent) and lighter clothes (73 per cent) this spring, only 4 in 10 (45 per cent) hope to give back to Mother Earth by cutting their electricity usage and therefore having a lighter carbon footprint.

LINDEMANS® Brand Manager, Andra Gough says: “The LINDEMANS® Early Harvest Spring Index clearly shows that spring is the time of year when Australians look to shrug off the winter cold and enjoy the better weather, lighter evenings, and sunnier days, to allow them to foster a lighter lifestyle.

In addition to the research findings, LINDEMANS® has taken note of a growing consumer trend for lighter styles of wine. We’re thrilled to launch a new range of uniquely lighter wines to the LINDEMANS® Early Harvest family just in time for spring, that are 25 per cent lighter in alcohol and calories*.”

The LINDEMANS® Early Harvest Spring Index also shows that traditional spring cleaning is no longer in vogue, with the majority of Australians admitting they will be favouring the outdoors this coming spring. Almost 9 in 10 (86 per cent) say they will get outdoors and another 60 per cent say gardening is on the agenda. This compares to just 31 per cent who are looking to stay indoors to clean their home.

Celebrity gardener, Meredith Kirton, agrees with the LINDEMANS® Early Harvest Spring Index findings: “It’s no wonder Australians are choosing to make use of the favourable weather and gorgeous flowers that spring brings, and cultivate and enjoy their gardens. I encourage all Australians to test their budding creativity this spring at the LINDEMANS® Early Harvest Garden Challenge at Floriade – in the nation’s capital. There are great prizes up for grabs, including the opportunity to create the inaugural LINDEMANS® Early Harvest Garden with me at the Melbourne International Flower & Garden Show.”