Daily Archives: November 23, 2008

Is the time of free money just around the corner?

Next Round USA & Japan? – Interest Rates tipped to go to 0%.

The question ~ “How much will they drop?”

As you have read many time before NZ & Australia’s banking system is still holding up well, but maybe others still need drastic measures to “kick start” themselves again…

Some are nearly there…. (in fact some who have been there before too)…

Who knows where we are going overseas? Only a few weeks back the Bank of Japan slashed its short-term interest rate to 0.3 percent from 0.5 percent to help the world’s second-largest economy weather the global financial crisis.

Earlier this month the Bank of England lowered interest rates to three per cent – the lowest since 1954. However there is talk that the base rate could drop even further, as early as next week.

In 1939, interest rates stood at two per cent as Britain headed into war, and it looks likely as the UK battles with recession, the cost of borrowing could drop even further.

A drop below two per cent would see the cost of borrowing falling to its lowest since the Bank of England was founded in 1694.

And under the heading Zero Rate World May Lie Ahead as King, Trichet Cut – by Simon Kennedy and Craig Torres from Bloomberg comes this comment….

“It’s the race to zero,” said Stewart Robertson, an economist at Aviva Investors Ltd. in London, which manages about $230 billion. “There’s no obstacle to more rate cuts.”

And “Weber’s View” also from Bloomberg±

Both (ECB & Bank of England) will cut to 2.5 percent by the middle of next year, according to median forecasts in two surveys. That would be the fastest pace of easing in the ECB’s history.

Australia‘s central bank may also cut rates on Nov. 4, (ED –yes they did, and left the door open for more….) after lowering them by 1 percentage point to 6 percent last month, the biggest reduction since 1992.

HIGH INTEREST RATES WAVE FINISHED FOR NOW!

ECB Will Cut Rate to 1%, May Move it to Zero, Citigroup Says By Simon Kennedy

Nov. 21 (Bloomberg) — The European Central Bank will cut its benchmark interest rate to 1 percent next year and may consider moving it to zero as the region’s recession worsens, Citigroup Inc. said.

“We do not rule out that rates may go to zero,” Citigroup economist Juergen Michels said in a report to clients today.

It most certainly makes for interesting times, and the canny buyers out there will really have to pick their timing right next time around.

If memory serves me rightly, our region Nelson / Tasman was one of the first to take off last time. If you want to be kept in the loop, just click the “Subscribe to Nelson Real Estate by Email” on the top left of my blog front page and you’ll keep you up to date with this blogs comments.

Astute investors, get your ships in order, because I believe an interesting voyage is about to invite us on board.

The photos, well I’m not a surfer, tried once ~ lets just say it didn’t work out, but the power of mother nature in these is fantastic. They were both taken at Teahupo’o in Tahiti.

SOURCES – http://www.myfinances.co.uk/feature/mortgages/mortgage-interest-rates/will-interest-rates-fall-0–$1249862.htm

± http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aixtvCSFGjl0

Google launches new “SearchWiki” in NZ

I was searching on Google last night, admittedly via my Gmail account (and thats how this happened) and I noticed some new icons, like in attached photo.

Apparently between you & me, Google have launched a new service – SearchWiki.

From the official Google blog….

users can..”customize search by re-ranking, deleting, adding, and commenting on search results. With just a single click you can move the results you like to the top or add a new site. You can also write notes attached to a particular site and remove results that you don’t feel belong. These modifications will be shown to you every time you do the same search in the future.”

Others explain it much more eloquently than I can. Although some have their own opinion.

Gmail has also given users finally a chance to ditch that normal boring old white background and have introduced themes. Have set my theme as the Oceans one already.

What do you think, a good idea?

Thinking of having a Garage Sale…..

Decide which day. Saturday morning still seems to be the most popular however a growing number of people are trying Garage Sales on Sunday now.

If you are going to hold the sale over 2 days then do a separate add for each day obviously in advance. That way people won’t assume that on a Sat/Sun add there won’t be anything left on Sunday.

Days that would not be recommended are Saturdays which are part of a long weekend or at the start or finish of a school holiday period. Garage Sales are now also an integral part of fund raising for clubs, sporting groups and community organizations.

PLANNING

Golden Rule for Successful Garage Sale

Organize and lay out everything priced the day/night before.

When planning the time to start the Garage Sale please keep in mind the following;- you’ll get people calling around early, no matter what**

if you plan to start at 8am then make sure everything is already out and on display by then.

If not then you will still be moving boxes of goods out to the sale area while missing the regulars who seem to target a site just as it opens.

Unless there’s two or three people present security could be an issue while you are moving between inside and out, or if you want a restroom break.

Don’t list your ph number unless you are really keen to sell the goods quickly, otherwise there is no guarantee what time of the day or night you’ll receive phone calls.

You’ll need to have some pads and pens available for notes / measurements, etc.

Just contact me and I can get some Pads and Pens to you.

Don’t forget you’ll need change and some notes. Some will pay for a $2 item with a $20.

** the best tactic to combat this is to advertise as “Cnr Main Rd & Songer St, signs out at 8am” and that way just about no one will know until the time which house it is. Of course the real regulars/dealers/Trade-Me resellers will cruise the street and try to work out which house, so if you only have a carport then the chances are they’ll spot you and try and come in early anyway. Obviously it pays to have a garage or ask a friendly neighbour if they will let you conduct your sale (& maybe there’s too) in their garage, that way you can keep the door down till 8am.

An added benefit of a garage is that if you have to move by a set date then the weather isn’t as much of a factor compared to just having a carport. Part II Tomorrow.