GEMS....

Today, in this competitive world, there are tens of thousands of salesmen out there. Everyone is selling the same things but everyone uses different methods. So what is it that sets these people apart from the rest? It is service that matters more than the product. Don't forget Singapore is promoting Gems - Go the Extra Mile for Service.

"Winners don't do different things. They do things differently".

Er…what is a reverse mortgage?

Er…what is a reverse mortgage?

Where do you see this?

In articles on property and retirement planning.

What does it mean?

A reverse mortgage is a financial scheme that allows a property owner to use his home to obtain a sum of cash. Like a line of credit, it provides a regular stream of income.

It is the opposite of a mortgage, in which the property owner pays a monthly instalment to the financial institution in return for a loan with which to buy his home.

With a reverse mortgage, the financial institution pays the borrower, referred to as the mortgagor. The latter is charged interest on the amount he receives.

Why is it important?

A reverse mortgage is an option for those who need additional income, in particular to meet retirement needs.

To qualify, the mortgagor must own a home and attain a certain age; usually, he has to be at least 60. In addition, his home must be fully paid up.

The reverse mortgage is granted based on the age of the borrower, the prevailing value of the property, the projected property appreciation rate and the interest rate. The loan is repayable only when the property is sold, usually upon the death of the borrower, or upon the expiry of the loan term.

In the event of death, the financial institution will sell the property for the estate of the deceased. However, it may allow the children to keep the house if they can repay the loan.

In Singapore, such services are offered by NTUC Income and OCBC Bank.

So you want to use the term. Just say…

Source : Sunday Times - 10 Aug 2008

Ducks Quack, Eagles Fly...

I read this article from Wayne Dyer. It's from his book "You'll See It When You Believe It." Dyer said that "if you get up in the morning expecting to have a bad day, you'll rarely disappoint yourself. He said, 'Stop complaining! Differentiate yourself from your competition. Don't be a duck. Be an eagle. Ducks quack and complain. Eagles soar above the crowd."

This hit me right between the eyes. In my line of business, I hear the quacking and complaining all the time. When you go into the office, you are bound to be confronted by someone who will ask you, "How's the market (real estate market)?. We should all decide to stop quacking like ducks and start soaring like eagles. Even when the market is bad, someone needs to sell, buy or rent..

Dalla Vale - Cluster housing in Upper Thomson

Dalla Vale - Cluster housing

Located amidst a natural enclave in a rustic part of Upper Thomson Road, Dalla Vale is the perfect freehold residence where you can leave the hustle and bustle of the city behind.

Developed by Far East Organization – the pioneer of the first ever cluster homes in Singapore, Dalla Vale continues Far East Organization’s tradition of creating high quality cluster homes such as Springhill.

With modern tropical architecture, lush greenery and pools with spa facilities, Dalla Vale’s luxurious semi-detached cluster homes are the perfect haven for you to rediscover nature and revitalize your senses.

And with great accessibility via the Seletar Expressway, Khatib and Yio Chu Kang MRT as well as proximity to the Singapore Zoo, Night Safari, Orchid Country Club and Singapore Island Country Club, Dalla Vale is indeed an oasis within easy reach.

Expected ompletion is 2009