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Mortgage Justice for JP Morgan?

 
CBWeekly October 21st , 2013 

Jamie Dimon, chairman of the board, president and CEO of JPMorgan Chase. 

Lawyers for the financial giant reportedly shook on a deal worth US$13billion with the US Government over investigations into its mortgage-bond sales. Though the largest such deal between financial firm and State to date, it still leaves JP Morgan a target for criminal liability. 

We are wondering - will this news affect people currently holding off on getting a mortgage? 

For sale: 2Bed 2Bath, suitable for a SMSF 



Our Aussie cousins lead the property-boom charge again this week. Pete Wargent in the Property Observer investigates the trend of credit growth remaining at historically low levels while real estate prices skyrocket. He suggests it is because of the amount of Chinese investors buying in cash. 

New adverts may soon be needed for property listings there too. Andrew Winter of the Herald Sun claims that a new demographic in the property industry has emerged.  

'Regular Joes' investing in Self-Managed Super Funds to buy residential property is all the rage apparently.  
Originally, a SMSF was a convoluted process, used mostly by accountants and advisors of wealthy individuals. Now though, the masses are in on the act and inventory is selling well. Winter notes the property filling up with listings that are 'suitable for a SMSF' instead of 'gorgeous family home'.  


Cayman Islands Realty offers assurance to Maserati owners.
 

Cash rich buyers are also causing a 'frenzy' in London pushing up asking prices by 2.8% month-on-month. 

The Telegraph ignores that dull numbers angle to instead focus on art. Connections between the worlds of luxury property and original art are thrown into sharp relief by the prestigious Chilterns, in Marylebone. These residences come with an original framed photograph of Marylebone by David Bailey (each worth $20,000.  We picked out some of Baileys work for our Pinterest). 

In fact, in that market there is increasing demand for art spaces such as personal galleries. One couple in St Johns's Wood ended up with art worth more than their mansion (so they moved). 

What else will a property seller add to sweeten the deal you ask?  

On Friday, one seller said she would throw in her 2007 Maserati Quattroporte for a quick sale.  



Having checked the website this afternoon, we see her listing is no longer on the market.  

Now, we like a quick sale as much as the next brokerage, but we advise against getting rid of the Maserati. Just check in with us before listing your property to ensure you have set the right listing price.