FINANCE with Lynette

Key tips for buying, selling and borrowing in the current market

With property prices declining in many parts of the country, and many people’s borrowing capacity falling as well, this is a different market than we’ve seen in many years.

So here are some important tips around buying, selling and securing finance right now.

Buyers

Buyers are usually the big winners in falling markets, because they generally face less competition and can score better deals. During downturns, the number of for-sale properties generally rises. Unsurprisingly, then, property listings in December were 4.6% higher than the year before, according to SQM Research. That means now could be a good time for you with more choice and greater chance of securing a bargain.

First-home buyers

If you’re a first-home buyer, you may be able to take advantage of federal and state government housing incentives. Reach out if you’d like me to explain which ones you might qualify for.

Relocators

If you’re moving home – whether you’re upsizing, downsizing or ‘same-sizing’ – think carefully about the order in which you do the two transactions.

In a falling market, it is worth considering selling first (when prices are higher) and buying second (when they’re lower), however keep in mind you may need interim accommodation between the two.

Upsizers

A falling market can be a great time to upsize. That’s because while you have to sell your old home for a certain percentage less, you get to buy your new home for a similar discount. That can lead to an overall ‘profit’, because the dollar saving on buying a dearer larger home is often greater than the dollar loss on selling a cheaper smaller home.

Sellers

If you don’t need to sell, now may not be the best time; instead, it may be better to wait until prices are rising again.

If you do need to sell, it’s vital you price your home accurately. In December, the number of old listings (those that had been on the market for more than 180 days) was 14.3% higher than the year before. Why? Well, according to SQM: "As there remains more sellers than buyers, dwellings on the market that are not priced to market, don’t sell."

Finance

As interest rates have been rising, the average person’s borrowing capacity has been falling. My strong advice is to contact me before you begin your property search, so I can test your borrowing capacity at different lenders (it varies from bank to bank) and organise a pre-approval for you. That way, you will know your budget before you start making offers.

If you’re moving home and want to buy before you sell, a bridging loan may be right for you.

Lynette Melis Finance Broker/Franchisee LoanMarket Kyabram

Charity Car Show

On Saturday 18 March Cam of Hussln Auto Detailing will celebrate 13 years in business. The milestone will be marked by what has become an Annual Charity Car Show and Open Day.

Cam says that Hogan Street will be closed to through traffic from Ross Street to Francis Street to make room for up to 120 cars to be displayed. They will be vying for custom painted skateboard trophies.

There will be a charity raffle with over $3,500 worth of prizes donated by local and national businesses. Raffle tickets are $5 or 3 for $10 and prizes will be drawn on the day.

Tatura Lions Club will be there with bacon & egg rolls, Fast Brew Coffee will be onsite along with a Shannons Insurance display and a display by 7 Sins apparel.

Come down to see great cars, help Cam celebrate his 13th anniversary and support charity at the same time.

Tatura Uniting Church

“Olive & Vine”

115 Hogan Street, Tatura

Minister: Brian Spencer 0400 274 482

Service 9.30am every Sunday.

March 5 Rev B Spencer, Communion Murchison zoom

March 12 Joan McRae TBC Colbinabbin Brian on leave

March 19 Gereldine Leanard Tatura Brian on leave

March 26 Rushworth Communion Brian on leave

See Waranga Uniting Churches Web site for Zoom links

Sacred Heart Church Tatura

Minister: Rev Fr John Paul Pasala

Worship Services:

Weekends

Saturday 6pm (1st & 3rd of the month)

Sunday 10.30am

Weekdays

Wednesday 9.15am

Friday 9.15am

Reconciliation:

1st Saturday of the month at 11.30am

Contact:

Ph. 5824 1049

Email: Tatura@cdos.org.au www.sacredheartparishtatura.com.au

All Saints Tatura

Anglican Church

Minister: Rev. Simba Musvamhiri

Family Worship Service

Including Little Saints Children’s Program Sundays at 9.30am

Contact 0497 597 127 www.allsaintstatura.org.au

Generations Church Tatura

Senior Pastor: Ps Jeremy Burr 10am Service 03 58243240 295 Dhurringile Rd www.generations.org.au

Tatura Presbyterian Church

Minister: Kalpan Vasa

Worship Services

Tatura 10:30 am

Rushworth 9:00 am.

Weekly Bible study and Fellowship Groups

Contact 0477 241 042

You’ll figure it out

I borrowed a tractor from a neighbour. He told me where to find the key and in reply to my question asking was there anything I needed to know about operating it, he simply said, “You’ll figure it out!”

I grew up on a farm so I’ve been driving tractors since I was a child, but the tractors of my childhood were a lot more basic than the one I borrowed from my neighbour.

I’ve got a couple of older tractors myself too, but the tractor my neighbour lent me was new. It has air-conditioning, a radio, a front-end loader and a lot more lights and levers than I’m used to seeing on tractors.

I also borrowed an implement to attach to the borrowed tractor from another neighbour. Again, apart from being told to regularly grease the many bearings and couplings, when I asked about the various settings that control depth and speed, I was simply told, “You’ll figure it out!”

I am very grateful for the generosity of my neighbours. While I appreciate their confidence in my ability to problem solve and overcome challenges, a large part of me would have liked more specific instructions. At the same time, I’m glad they didn’t give me what I would have liked, that is, more specific instructions, because I am the better for having to “figure it out” for myself.

One of the strengths I’ve been told I possess is a high “tolerance of ambiguity”. “Tolerance of ambiguity” refers to a person's ability to accept uncertainty, complexity, and unpredictability in situations without experiencing excessive stress or discomfort. It is also having the willingness and ability to deal with multiple perspectives, change, and conflicting information in a constructive way.

Individuals with a high “tolerance of ambiguity” tend to be more flexible, adaptable, and open-minded. They are more able to handle situations that are uncertain or rapidly changing. They are also less likely to become frustrated or overwhelmed in situations where the available information or the expected outcome(s) are not clear.

So much of my life is ambiguous! I suppose that’s true for most of us. Life doesn’t come with a Users’ Manual. For example, most of us feel unprepared for marriage and parenthood. Many of us, when taking on new jobs or roles in the community, suffer from “Imposter Syndrome”, the feeling that we will be caught out as frauds, as people who do not know what they are doing.

It is easy to doubt yourself. It is encouraging when others believe in us. Jesus had more confidence in his disciples than they had in themselves. When the time came for Jesus to leave the disciples, they were not ready for the responsibility Jesus gave them. They didn’t know enough, they weren’t reliable or resilient enough and they lacked courage. In many ways the disciples were immature and were not ready. They often bickered over available roles and about their status. Yet Jesus as he prepares to leave them basically says, “Don’t worry, you’ll figure it out.”

Time and again he tells them not to worry, inferring “You’ll figure it out.” “…, do not worry about how you are to defend yourselves or what you are to say; for the Holy Spirit will teach you at that very hour what you ought to say.” (Luke 12: 11-12, NRSV)

“I still have many things to say to you, but you cannot bear them now. When the Spirit of truth comes, he will guide you into all the truth; for he will not speak on his own, but will speak whatever he hears, and he will declare to you the things that are to come.” (John 16: 12-13 NRSV,)

“You’ll figure it out.” With the help of the Holy Spirit, the disciples will figure it out. Jesus believes in their ability to solve problems or overcome the challenges ahead. And despite how much they didn’t understand what Jesus said to them while he was alive, they did figure it out. Well, they figured out enough anyway. Thanks be to God!

The future is never quite what we predict it will be; not in our personal lives and careers, in our community life or in our churches. Likewise, we often don’t feel up to the challenge, but with God’s grace and the spirit of Jesus I believe we can figure it out.

This is the gospel and it’s good news.

Brian Spencer, Minister, Tatura Uniting Church

1c – Rabbits

2a – Andromedaz

3c – Rings Bells

4a – Zagreb

5a – 1970

6d – 4 years

7c – Komodo Dragon

8a – Cows

9c – Portuguese

10b – The constitution

Scoring.

0–2. Struggle Street. Watching reality TV and texting your friends on the phone has some benefits but gaining general knowledge isn’t one of them.

3-5. Bland Street. There’s nothing wrong with being averagely bland. Most people fall into this category which also includes mediocre, dull, drab, dreary, ordinary, run-of–the mill, middling, commonplace ….

6-7. Above Average (sort of). As my mum used to say, “Good, better, best, never let it rest, until your good is better and your better best.” It’s now time to become a smarty pants. As you know quite well, we always need more smarty pants.

8-9. Smarty Pants. Congratulations! How does it feel to be in the top 5% of the population? Although there is no evidence to back up this claim, I’m sure you’ll agree that it feels right.

10. Genius. I should make a special pin for people like you to wear so that the struggling underclass of wannabe intellectuals can gaze upon you with fawning admiration. Without a pin, how can people truly appreciate your cleverness. I suppose you’ll just have to tell them.