Australia - A Country That Has It All

Australia is without doubt one of the most sought after tickets for those looking to relocate and improve their quality of life. A large country with a land mass of 7,617,930 square kilometers, makes it the Earth's sixth largest country and as such (with just over 20 million inhabitants) has one of the lowest population densities in the world, with only 2 people per square kilometer. This fact, coupled with the knowledge that Australia has perhaps more natural wonders within its borders than any other, an amazing climate and a wonderful quality of life, all go to make it a top spot for holiday makers and those relocating.

An epic country on every level, from its natural deadly inhabitants of insects, snakes and famous sharks, to its vast outback lands that are largely uninhabitable, Australia is home to the most pristine beaches one could imagine. Also incredible national parks and it's capital, Sydney, is a wonderful heady mix of metropolitan sun, sex and surf. Blend that together with great weather and the famously laid back and positive ways of the inhabitants, this country really has it all.

The capital city of Sydney itself is Australia's oldest city, first established as a British colony in 1788. This city is extremely well designed, as is beautifully displayed by the stunning Sydney harbor. Sydney seems to morph from one architectural structure to the next, weaving through an extensive variety of restaurants, bars and clubs, opening up onto possibly the most famous beach in the world, Bondi beach.

It's true that being beautiful is something that is openly celebrated in Sydney and is almost slightly akin to Brazil's Rio in terms of the attention to aestheticism, however, this is Australia and at its core the people remain down to earth and hearty. These two attributes combined make Sydney both beautiful and compelling. Anyone that spends any time in Sydney always thinks of returning.

For those looking for a slightly more bohemian feel, Melbourne is surely the way to go. A smaller and more intimate city, this is the place for creative boutiques and independent swanky bars and cafes all linked together by cobble stoned alleyways. This is the city for great music and alternative arts for culture lovers and like Sydney, boasts wonderful beaches and great climate, a true gem.

In fact touring the cities of Australia is an interesting way to see the country, as each city has it's own distinct personality due to differences in the climate and cultural inheritance. Other cities of note are Canberra, with it's wonderful galleries and gardens surrounding Parliament House. Brisbane, with it's cultural south bank made famous by Australian artists. Adelaide, known for it's central market that boasts a fantastic array of fresh local produce of organic fruit, vegetables, premium meats, farmed seafood, home made cheeses and arts and crafts. Perth, great for it's windsurfing and sailing also loved for it's glistening Swan River. Darwin, known for it's world class restaurants in Fannie Bay, this is a city with incredible waterfront property boasting great harbor side living. Cairns, is the place where many travelers come to hang out along the beautiful coastal esplanade, with great swimming in the large salt water lagoon, inclusive of trendy bars alongside boutique hotels and restaurants. Alice Springs is famous for it's desert landscapes and Australian mythology, as once seen it will never be forgotten, it's red rock land and blue skies are home to much culture, including the Museum of Central Australia.

For those that enjoy the surf, the Gold Coast is a veritable paradise on Earth. With thirty five beaches and some of the largest waves, this is where the professionals of the surfing world come together for the famed surfer Quiksilver Pro event that takes place in February each year.

For those that love wild life, Australia offers this up in abundance. Obviously, water sports and diving are also a huge draw to many fun seekers and serious divers. Off the coast of Queensland in the North East of Australia, lies the Great Barrier Reef, the worlds largest Reef system, with just under 3,000 individual reefs and an incredible 900 islands. Spread over a vast expanse of more than 2,500 kilometers. The Great Barrier Reef is a World Heritage site and one of the seven wonders of the world, a place not to be missed by those visiting and accounts for a substantial 1bn dollars a year in tourism.

Inland, incredible nature is just as abundant. One of the most awe inspiring national parks on the planet is the Kakadu National Park, which is Australia's largest national park and home to many inhabitants of wild life, including Crocodiles, Dingos and Antilopine Kangaroos. There are rocks that date back two thousand million years and the park itself plays out like the historical story of the country itself from it's very inception. There is a mystical feel to the park, as about one third of the rangers are indigenous Aboriginal people and much of the land surrounding is Aboriginal land. This give visitors an opportunity to gain some insight into another idea of Australia's identity.

The average house in Australia is detached and inclusive of outdoor space. The average house price varies. In Sydney as of 2011 the average cost of a property is ?415,000. Melbourne is slightly cheaper with the average house price at ?350,000. In Perth, average house prices are slightly less at ?340,000. Brisbane, where they are ?325,000 and Adelaide coming in well below other areas at ?270,000. It is worth noting, that due to Australia being such a large country, it's cities are spaced out far and wide and vary greatly in property price due to local economics, therefore the smaller cities are often more affordable.

After deciding upon a location, here are some pointers to help with the purchasing process:

1. Look to have between 10% and 20% of the value of your desired new home available, as this is usually the minimum requirement for an Australian mortgage.

2. For foreigners buying in Australia the process would need government approval. This is quite a standard process and purely exists to stop foreign investors, normally companies, from speculation on property that would not help the Australian economy. However, there is nothing to worry about when purchasing a home for personal use.

3. To ensure eligibility in order to make an offer on a property, an application to the Foreign Investment Review Board (FIRB) will need to be submitted first.

4. If struggling to find a mortgage, then enlisting the services of an Australian mortgage broker is a good idea as they usually provide a free service, deriving their income from the lender, although they do work independently of them. Not all banks may lend to foreigners, so a mortgage broker will help to pinpoint the lenders that are favorable.

5. Finding a good local realtor to help with the selection process is highly advisable. As is the employment of a trusted local solicitor as they will be responsible for handling all legalities and ensuring that the sale is in the best interest of the buyer and the transaction is water tight.

6. As with any foreign purchase, thorough research beforehand is advised as is surrounding yourself with a few local professionals that can give you the right advice at the right time. Other than this, with a little common sense and patience, finding and purchasing a dream home in Australia is thankfully a relatively straightforward process.

If you are thinking of relocating to Australia, then you will be pleased to know that this country really is the best of the new world, with wonderful people, incredible climate, natural resources, world class infrastructure and one of the best qualities of life available, makes Australia one of the best places to live in the world.

Tony Osust, director: Holprop.com

Search through our large international portfolio of properties for sale and rent. Holprop.com now showcases thousands of rental and sale properties, from single family homes, commercial and recreational properties including hotels, bars-restaurants, new build or off-plan developments for sale worldwide.

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How Do Short Home Sales Work?

Mortgages have become problems for millions of people in America. The housing bubble and concordant debt explosion from 2003 to 2007 resulted in many people taking on more mortgage debt than they could afford. Now that home prices have fallen dramatically from their peak, close to 30 million people have negative equity. Their mortgage balance is greater than the value of their homes. This dreadful circumstance has resulted in record numbers of short sales as homeowners attempt to escape their mortgage contracts. Short sales are unpleasant experiences, but given the current dire straits of the economy, people must understand how they work.

A major problem with short sales in the past has been the fact that under IRS law, people may owe taxes on the "income" gained from discharging debt on their principal residence. The Mortgage Debt Relief Act of 2007 allows taxpayers to exclude such income from their taxable income. This law is only in effect from 2007 to 2012. This makes short sales far less painful for debtors.

When a homeowner finds that he cannot pay his mortgage, or he has negative equity, he can ask the lender to accept a short sale. A homeowner that is not in such circumstances can also request the sale if he can demonstrate that the house cannot be sold for the amount owed. If the lender agrees, the lender will accept an offer on the house for less than the value of the mortgage balance. This type of sale is not a sale below market value. For instance, a homeowner who has paid off his mortgage and sells a house worth $100,000 for $75,000 is not undertaking a short sale. They specifically refer to the lender taking at least a partial loss on the remaining mortgage balance.

Short sales are unfortunately burdensome legal processes. The homeowner will be well served by hiring legal assistance to handle the technical details. They involve a lot of back-and-forth banter about small things involved in the process. The bad news is the lender will require the seller to pay the deficiency, or the difference between the short sale price and the mortgage balance. The lender often does this by classifying the deficiency as 1099 income on the part of the seller. This is why short sellers can be taxed on income they do not owe, and what the Mortgage Debt Relief Act of 2007 was meant to rectify.

Far worse is for the lender to pursue debt collection actions against the short seller. If this leads to wage garnishment, the seller's only hope is to file for Chapter 7 bankruptcy protection. Never assume a debt is gone unless written confirmation is received, otherwise the seller may still be liable.

Joann Carlisle is a writer who looks forward to sharing her knowledge and advice with readers. For more on real estate, Five Stars Mortgage offers readers tips for buying a short sale home.

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Tips on Flips (5 Things You Must Really, Really Know)

1. Some people like dirt! By that, it's not meant to be an insult, but this adage will make you money. Hence, it's okay if the development is in a C location, since this may offer some upside. So who cares that you're not going to live there in the actual place that you're buying! If you find yourself faced with this type of opportunity, buy the property if it truly looks like a great potential flip and it's in a C location. This may be a great flip. Just because you wouldn't personally have a desire to live there doesn't mean others wouldn't. Keep in mind that people buy homes for a lot of reasons. They buy it because they've lived in the area. They buy it because they have relatives in the vicinity. They buy it because they're familiarized with the area and feel comfortable. So put your feet in the shoes of the consumer and what their buying criteria is, not specifically your own.

2. Understand demographic trends. Why are people buying in this area? Just like in criterion 8, put yourself in the mind-set of the home buyers.

3. Do a market grid analysis to better understand your market. Ask yourself where the market is priced and more importantly and at what price it is closing. For example, when you do your market research, are the developments that you're focused on priced at, below, or above the prevailing market value, as defined by livable square-footage cost? The living-square-foot value is one of the strongest indicators of comparable market values you can have.

4. Determine the fundamentals of your market. Go out there and kick the dirt. If not, do a satellite Web site search and survey the area from the comfort of your own recliner. This really is the lazy-man approach, but it gives you a great overview of the area. Yahoo! and Google have satellite perspectives of communities, which can genuinely give you somewhat of an idea of the overall feel of the area if you're not able to go out there yourself.

5. What about "Self-Marketing Your Investment" as a tip on flips. Notwithstanding the myriad of ways to nip and tuck away at expenses during the acquisition of pre-construction opportunities and/or resale homes, selling the home yourself - which requires self-marketing, will save you 2 percent to 3 percent on the gross amount of the sale price. This may be the difference of making or not making a profit on a property. This is especially so in a down market, where profit margins may be slow. On the deals I bought and sold myself, the savings were anywhere from $5,000 to $15,000 per property. To sell it yourself, sign-up and utilize a private Internet-based MLS. The cost is anywhere from $195 to $495 per listing.

As a member of the National Association of Realtors and the National Association of Home Builders, D. Sidney Potter began his real estate career in 1992 as a mortgage operations consultant for Synergy Consultancy Group, and proceeded to work for Marcus & Millichap and Sperry Van Ness as a commercial real estate broker selling shopping centers and storefront retail. In addition to being a former member of the International Council of Shopping Centers, he holds a BA, 2 MBA's and part of a Doctorate from Pepperdine University. Most recently he served on the Board of Directors for two major HOA's in Las Vegas.

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