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When theres a shortage of well-priced housing stock as there is in SA now, buyers have to learn to deal with more competition for those homes.

For several years after the 2009 recession, there were more homes for sale than buyers, says Shaun Rademeyer, CEO of BetterBond Home Loans, SAs biggest mortgage origination group, and buyers got used to being able to pick and choose between several options and being able to take their time over purchasing decisions.

But historically low interest rates and steadily rising demand have absorbed just about all the excess stock and, with developers having been so cautious about bringing new projects to market for the past few years, a clear shortage of homes for sale has now arisen in many popular areas. And the result is that an increasing number of buyers are finding themselves in the unfamiliar position of having to compete with other prospective buyers for the properties they want.

However, he says, a home purchase is still a complex transaction, and they should take care not to make mistakes in the heat of the moment that could cause them many years of financial regrets.

The most common mistakes that buyers in a competitive market make, is to go into that market without enough cash.

A lot of lower-priced homes are now being sold for cash to buyers who have spent the past few years preparing for home ownership by ruthlessly eliminating debt and saving up every spare rand so that they wont have to take out a home loan. It is very difficult to compete with such buyers unless you, too, have cash in hand – at least for a sizeable deposit and all the transaction costs.

BetterBond also strongly suggests, he says, that buyers who do need home loans to finance their purchases clean up any blemishes on their credit records and work with a reputable bond originator to obtain pre-approval for a home loan before they go househunting .

This definitely helps to give sellers the confidence that if you do make an offer to purchase, you will be able to obtain the necessary loan and go through with the transaction.

Another mistake that prospective buyers make, says Rademeyer is to put the car before the home.

Your debt-to-income ratio is one of the first things lenders look at when it comes to assessing how well youll be able to afford mortgage payments, so its very important to have as little debt as possible before you go looking for a home to buy.

Next, he says, prospective buyers should be sure to actually visit the areas they are interested in, and find agents they can work with who are familiar with these markets and the actual selling prices that are being achieved there – before they start going to show houses and making offers.

Being able to go through home listings online is wonderfully convenient, and enables you to narrow down your choices to homes that look like they will meet your needs and your budget. But just as its wise to visit an area at different times of the day and week to get a feel for what its really like – there really is no substitute for a trained and reputable agent who really knows the local property market and is prepared to share this expertise.

Then, no matter how competitive the situation is, Rademeyer says, buyers should take their time when viewing properties – and not hesitate to call in a professional home inspector if they have any doubts or questions.

Its all too easy to miss things that could be very expensive to repair in the excitement of finding a home you like and the heat of a bidding war with other buyers.

But you should never, ever let yourself be pressured into making an offer unless you are absolutely satisfied that the property is sound and in good condition.

And finally, he says, homebuyers should try to leave their emotions out of things when viewing properties and making offers.

For one thing, this is a major financial decision that will undoubtedly affect their lives for many years, so they should try to make it with a clear head. And for another, it is worth bearing in mind that most sellers are hoping for an offer from someone who is calm and collected and serious about buying their home.

The Reserve Bank of Australia has released the minutes from its August board meeting, showing no major change in monetary policy.

Cash interest rates remain unchanged at 2.5%.

The RBA says the current monetary policy in Australia remained accommodative and supportive of demand.

Credit growth picked up a little and dwelling prices had continued to increase.

RBA staff forecasts suggest that inflation, despite recent higher readings, was likely to be consistent with the 2% to 3% target over the next two years.

GDP growth is likely to have slowed to a more moderate pace in the June quarter and is expected to be below trend this financial year before picking up.

Output growth would probably be somewhat softer in the near term after recent higher readings, but was expected gradually to strengthen again over the forecast period, the RBA minutes say.

Members noted that there was inevitably a significant degree of uncertainty about the outlook, given the number of forces working in different directions.

The board judged that monetary policy was appropriately configured and that, on present indications, the most prudent course was likely to be a period of stability in interest rates.

Here’s the full text of the minutes.

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Many people are affected by the struggles of debt. In today’s world, it is unrealistic for creditors to assume that people have the ability to pay off all of their debt and still keep their family afloat. Fortunately, everyone gets the chance to manage their finances without being hassled by bill collectors and struggling with overdue debt.

Since filing for bankruptcy is a serious financial decision, it’s important to understand exactly what this process entails. Bublitz Baro LLC, a  bankruptcy law firm in St. Louis, helps people understand the process of filing for bankruptcy. This bankruptcy lawyer can help you understand all of the steps that you need to take to make the best decision for your financial future while eliminating credit debt.

To start eliminating debt, you can file for Chapter 7 or Chapter 13 bankruptcy. The most commonly filed type of bankruptcy is Chapter 7. During an appointment with this bankruptcy attorney to discuss your options, you can learn if bankruptcy is right for you.

While you may think that there is no way for you to pay the bills you owe, this isn’t always the case. These personalized attorneys customize their services to accommodate the specific needs of clients with payment plans for credit debt elimination designed to complement your budget. No matter what has happened to make your debt become unmanageable, these services for debt elimination can help you regain control of your finances.

With this experienced bankruptcy law firm in your corner, you won’t have to face bankruptcy alone. This attorney has the legal expertise to provide you with the debt relief you need. With flexible payment plans available, you can find affordable legal advice and representation without sacrificing quality. 

Bankruptcy helps many people take control of their finances and enjoy the benefits of a fresh financial start.  For more information from this premier bankruptcy law firm, call (314) 685-8539 or visit the website at

Media Contact
Company Name: Bublitz Baro LLC
Contact Person: Steven Bublitz
Email: Send Email
Phone: (314) 831-2277
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City: Florissant
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Country: United States

Source: has created a guide to evaluating lenders according to specific circumstances faced by those with bad credit, so they can get a personalized solution.

San Francisco, CA, United States of America – August 19, 2014 /MarketersMedia/ –

Most of western society is built on a credit culture, with individuals obsessed with having it now and paying for it later. The price we have paid for that is a global economic meltdown, that has seen many people given irresponsible loans and unable to repay their debt, subsequently branded with ‘bad credit’. These people find it hard to find any line of finance to get themselves back on their feet, so Best Rated Loans For People With Bad Credit was launched to help people find recommended providers of online loans for bad credit. The site now also includes a guide to evaluating these companies to get the best solution.

Best Rated Loans For People With Bad Credit recommends No Problem Cash, Cash Advance Loans, First Choice Capital Resources and Better Loans Mutual to its users, but each is better suited to people of particular circumstances, and choosing the best one requires individuals to understand how their circumstances and the companies’ policies interact.

To aid with this, the site has created a guide to choosing a bad credit loans company, including those seeking funds for long term projects, those seeking fast funds as a stopgap measure, and more. They also give advice on applying and making payments, so individuals don’t find themselves in a debt trap.

A spokesperson for Best Rated Loans For People With Bad Credit explained, “The new guide is designed to ensure that people understand companies are better at meeting some peoples’ needs than others. Unfortunately having bad credit is not a unique situation and there are many ways people can find themselves burdened with this label, as well has having many different needs for loans despite that label. Our new guide helps them clarify which of our four best companies we recommend in specific circumstances, so everyone’s experience is optimized.”

About Best Rated Loans For People With Bad Credit:
Best Rated Loans For People With Bad Credit has been created to help people find the best rated loans and lending companies for users who have poor credit or no credit. The site is designed to be as accessible and easy to use as possible, with reviews of sites written in plain English.

For more information about us, please visit

Contact Info:
Name: Joe Bragg
Phone: (415) 632 1664
Organization: Brandoutreach


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Business Digest 08-20-14

August 22nd, 2014

Mortgage company closes doors in Wesley Chapel
A corporate decision to leave the mortgage services business has put 10 people out of a job in Wesley Chapel.

Springleaf Financial has filed a Worker Adjustment and Retraining Notification, or WARN, with the Florida Department of Economic Opportunity, saying it plans to cut those jobs beginning in October.

The office, according to the notice, is located at 2533 Windguard Circle, Unit 101, in Wesley Chapel, just across from Florida Hospital Wesley Chapel off Bruce B. Downs Boulevard.

“Springleaf has decided to sell its mortgage services business,” the Indiana-based company told The Laker/Lutz News, in a release. “In conjunction with the sale, the company plans to close its facility in Wesley Chapel. This was a difficult decision, and where possible, we are working to place affected staff in new positions within the company.”

The sale of the mortgage service division was part of nearly $7.2 billion worth of divisions Springleaf recently decided to part ways with.

The company provides loans and other credit-related products to more than a half million people in 26 states, as well as Puerto Rico and the Virgin Islands, according to the company’s website. It also provides bill consolidation loans, personal loans, home improvement loans, and loans for unexpected expenses and vacations.

The company went public in 2013.

New Seven Oaks community may have to rethink gates
A new townhouse community planned for Wesley Chapel’s Seven Oaks subdivision is struggling to keep the neighborhood gated.

Pasco County officials have recommended denying a request by The Ryland Group to allow for two gated access points as a planned 96-unit community near the intersection of Stockton Drive and Bruce B. Downs Boulevard. The problem, they say, is that there isn’t enough room to accommodate a line of cars.

County ordinance requires there be at least 75 feet of space from a sidewalk to a community’s gated entrance, enough to fit three cars. However, because of the unusual layout design of the property where Seven Oaks Ryland Townhomes is planned, it can only provide enough space to accommodate two cars. The rule, officials said, ensures there is enough room for a small line of cars, without blocking sidewalks and roads.

The plan would have provided for two entrances into the community, one from Stockton Drive, the other from Eagleston Boulevard. Only the entrance at Stockton would provide visitor access, but even a resident-only entrance at Eagleston created concerns from county officials. That’s because it would only have enough room to hold one vehicle, and any additional vehicles would block pedestrian pathways.

Developers will have a chance to plead their case in front of the Development Review Committee, which will meet in the county commission chambers at 8731 Citizens Drive in New Port Richey on Aug. 21, beginning at 1:30 pm

Upcoming PHHCC events
Some of the upcoming August events with the Pasco Hernando Hispanic Chamber of Commerce include:

o Coffee amp; Conversation Aug. 22 beginning at 7:30 am, at Centennial Bank, 23000 State Road 54 in Lutz.

o Business amp; Career Expo, Oct. 17 from 3 pm to 8 pm, at Wesley Chapel Toyota, 5300 Eagleston Blvd., in Wesley Chapel.

For information, visit

New painting franchise opens
Jason Metz has opened a new location for ProTect Painters, a professional painting company that specializes in exterior and interior residential and commercial painting projects, in Wesley Chapel.

It will be located at 1936 Bruce B. Downs Blvd., Suite 64.

ProTect Painters as a corporation was acquired by Service Brands International in 2009, the franchisor of household services companies like Molly Maid and Mr. Handyman. Under the SBI umbrella, ProTect Painters is expected to grow to 200 franchises over the next five years, according to a release.

For information, call (813) 279-5083.

Planned Zephyrhills restaurant gets some financial help
The Zephyrhills City Council, meeting as the Community Redevelopment Agency, approved nearly $20,000 to help a popular Tampa restaurant expand into Zephyrhills.

Michael and Laura Andrews want to open Smokehouse B-B-Q amp; Grill at 5740 Seventh St., a space formerly occupied by Pancho Villa’s Mexican Restaurant. However, nearly $40,000 in vandalism caused to electrical and air-conditioning made that nearly impossible.

The CRA, however, offered to help, which could pave the way to creating up to 30 new jobs in the city, according to city documents.

The Andrews bought the 36-year-old building for $95,000. It originally sold in 2003 for $250,000. The CRA will give the couple up to $19,688 – or half the cost to make electrical and air-conditioning repairs – according to City Manager Steve Spina.

Smokehouse B-B-Q was started in 2004 on US 301, one mile north of Interstate 4 in Tampa, according to city documents. Although revenue has steadily increased at that location over the past few years, the Andrews felt they had reached their capacity at their current location, and wanted to add a second one.

Housing market up, condo sales down
Nearly 15,000 existing homes and condominiums changed hands in the greater Tampa Bay area during April, May and June, showing promising housing market trends despite a drop in overall condo sales.

The region – which includes Pasco, Hillsborough, Hernando and Pinellas counties — sold 3,733 condos in the second quarter, down more than 5 percent from the year before. The median sales price, however, rose more than 12 percent to $110,000.

The volume was second only to the greater Miami and Fort Lauderdale area, where nearly 13,000 condos were sold, according to a new report from Florida Realtors. Sales there, however, were down more than 6 percent.

The lower volume is actually good news for the market, Florida Realtors chief economist John Tuccillo said, because that means foreclosure-related short sales are on the decline.

“The second quarter numbers show that Florida’s real estate market is settling in,” Tuccillo said, in a release. “While prices throughout the state tend to be up, sales are mixed with single-family sales growing, and condos and townhouses declining.”

Some of the reasons for that include the reduced role of bulk investors – buyers who pick up multiple units at a time in hopes to rent or flip — and many families who are having trouble getting mortgage credit because of flat income.

Just a little more than 10,800 single-family homes were sold in the quarter, up 3 percent from a year ago. Median prices, however, were much more flat at $156,000, an increase of 1.3 percent.

Statewide, single-family sales were up more than 7 percent, while median sales prices rose just above 5 percent at $180,000.

Consumers are borrowing more, a good sign for the economic recovery, such as it is.

Consumer loans increased to $1.06 billion as of June 30 at 85 banks based in St. Louis, 40 percent higher than a year earlier, according to the Federal Reserve Bank of St. Louis.

Consumer loans can include auto loans, personal lines of credit and credit cards. They do not include mortgage loans or home equity lines of credit.

It’s a relatively small lending category, making up only 3.8 percent of the $27.6 billion in total loans at 85 St. Louis banks. These are banks based here — not large national banks such as US Bank or Bank of America, or regional banks such as Commerce Bank or UMB.

And keep in mind that several of the 85 banks do business regionally or nationally, such as Scottrade Bank and Enterprise Bank Trust. In fact, much of the total increase in consumer loans is outside the St. Louis area, said Julie Stackhouse, the St. Louis Fed’s senior vice president of banking supervision. Still, she said, any loan growth is an improvement.

See here for complete financial results from the St. Louis banks for the first half of the year.

Shoptalk, Banking, Economic development

Jakarta. Bank Indonesia will not loosen its monetary policy until the current account deficit narrows to 2.5 percent of gross domestic product, a level unlikely to be reached until after next year, the central bank governor said on Thursday.

Bank Indonesia governor Agus Martowardojo said the main focus of the central bank next year would be to narrow the current account deficit, which reached 4.27 percent in the second quarter.

“Overall, we will keep our position for monetary policy. We will control inflation to reach our target of 3.5 to 5.5 percent [in 2014]. We are guiding the current account deficit healthier to 2.5 percent of GDP,” Martowardojo told reporters.

Bank Indonesia started a tightening cycle in June last year after the current account deficit hit a record high of 4.4 percent of GDP. In the following months, it raised the benchmark interest rate by 175 basis points to 7.5 percent, a level that has remain unchanged since November 2013.

The policy was aimed at supporting the rupiah, easing inflation and slowing growth to bring down imports in Southeast Asia’s largest economy.

The central bank expected the current account deficit to reach around 3.0 percent for full year 2014 against last year’s 3.3 percent.

The current account is the widest measure of the flow of goods, services and money in and out of a country.

Despite its efforts to slow growth, the central bank expects GDP to rebound next year.

In a state budget meeting with parliament, Bank Indonesia forecast economic growth at 5.4 percent to 5.8 percent in 2015, stronger than its growth projection of 5.1 percent to 5.5 percent this year.


Wherever plunder is less burdensome than labor, it prevails; and neither religion nor morality can, in this case, prevent it from prevailing.
- From Bastiats The Law

Representing all things big, institutional investors believe there is no inflation.

The market behaves as if there is none. This undercuts value at risk.

But reality is very different. Across the board, price is determined by a broken system fueled by an unsound economy. (The developing Ebola pandemic may serve as an example and a warning).

Financiers run amok and the computers they program make all systems prone to panic.

In the case of finance and economic conditions, uncertainty and confusion are prime radar for detection. Consider the financial system with its connectivity, complexity, lack of redundancy, and non-linearity. The public touch-points, banks, ATMs, and services.

The systems underlying basic financial transactions are extremely fragile.

Moving out one layer. Observe trading – more than a third of equities are traded via high frequency computer programmed algorithms.

No human middle men – no market-makers willing to take either side of a trade.

Panic leads to selling by everyone – all at once.

Consider that, if the rate on a 10-year bond goes from 2% to 4%, the underlying value of the bond is cut in half. That is a geometric decline, and could very easily trigger a flash crash. That’s a factor that could trigger massive selling against the dollar.

Add to this the geopolitical reality. The BRICs moving away from the dollar.

The next world war. An ongoing currency war.

The economy is weaker by any real measure.

We have very high unemployment and much higher inflation on the ground level along with the dollars demise and political instability.

There are some other factors as well, such as the relative political stability.

Cognitive dissonance rules the masses.

As John Williams of puts it:

“If you look at our fiscal conditions, officially the numbers are getting better but if you look at it on a GAAP basis, using generally accepted accounting principles, the way a corporation would report its financial statements, we’re seeing annual deficits order of magnitude 6 trillion dollars.

Look up GAAP deficits.

That’s a third of the GDP and if you looked at the aggregate obligations, again using gap accounting, we’re looking at something that’s over 90 trillion dollars.

Fifteen times the level of GDP.

It’s the type of the thing the United States can never resolve with normal economic and financial policies.

The government has to address its long term solvency issues if it’s going to survive, if it’s going to have any credibility in the rest of the world.

The global markets look at the US and there’s the big question of the sovereign solvency. We saw the concerns of that come to a head back in August of 2011 when Samp;P downgraded the US treasuries, and you had a brief dollar panic before there was massive intervention and a variety of things were done by central banks to try and calm things down.

We have ahead of us here probably the worst fundamentals ever facing the dollar. I don’t think the US dollar against the rest of the world’s major western currencies including the Canadian dollar. I don’t think things have ever been more negative. “

For the metals…

Its one thing to deny price manipulation, quite another to smugly deny the existence of real inflation.

Just because instructions are “trading” as if there is no inflation should say everything that is needed regarding risk.

Juxtaposed with price of silver – the supply in suggests versus the actual supply.

You dont have to rely on whether we are running out.

Its been more than five years after the most recent financial crisis. It was contained, or rather further coiled for disaster. In essence, we never really corrected.

The world monetary system is even more tightly wound.

Each day that goes by whistling past the reality guarantees that.

When the next crash arrives, the dollars demise will play center stage.

SEOUL Aug 19 (Reuters) – HSBC on Tuesday raised its rating
on South Korean stocks to neutral from underweight, citing
decreased earnings risk as profit expectations have declined, as
well as supportive monetary policy.

South Koreas central bank last week cut its policy interest
rate for the first time in 15 months, by 25 basis points, to
2.25 percent.

(Reporting by Tony Munroe; Editing by Clarence Fernandez)

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