...affordability has been a key policy goal for government. Both state and commonwealth governments have funded numerous housing assistance programs over the years. With the one goal in mind to help first home buyers achieve the great Aussie dream by buying their first home. In September 2008 the Global Financial Crisis came to a head with the US government allowing the investment bank Lehman Brothers go bankrupt. Up to that point it was always assumed that the US government would bail out any bank that got into trouble, this was not the case and banks were now deemed ‘risky’ (Elliott, The Guardian, 2011).Governments all over the world scrambled to prop up their economy to ‘ride out the storm’. The Rudd governments First Home Buyers Boost was just one part of the economic stimulus package rolled out to hopefully reduce the chances of Australia facing the same fate that the United States of America did when the Global Financial Crisis hit. I will discuss the First Home Buyers Boost scheme that was implemented to encourage first home buyers into the housing market whilst we dealt with the Global Financial Crisis that was hitting the United States of America and other countries around the globe. I will also discuss how the NSW First Home Owners Grant and the Commonwealth First Home Buyers Boost schemes combined affected the demand and supply for property in the sub $500 000 housing market in 2008/2009 particularly within the suburb of Gladesville. The...
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...Kevin Fox XECO212 2-11-14 New Home Risk and Benefits There are many risks associated with purchasing a new home. Understanding what the risks and benefits that are associated with purchasing a new home will help a potential buyer make the right decision. I recently purchased my first home last year, and found myself weighing in on all the benefits and risks associated with my first home purchase. A couple of more recent fiscal policies that the government implemented recently were the first time home buyer credit and a new low interest rate of 3.1% for qualifying buyers towards a first home purchase. These two policies that were implemented by the government were meant to change the demand for homes in the economy and target new home buyers to purchase their first new home. This in return would jump start a boost in the economy by theory. These two policies where what made my decide to purchase a new home because they were and are great incentives. The first time home buyer tax break/ credit has since expired, however all time low mortgage rates are enticing buyers to purchase new homes still. The government also backing FHA loans allows first time home buyers to be approved for their first home loan in a tough economy. If the economy takes off, more houses will be purchased, the values of homes will rise, and eventually interest rates will rise once the government feels that spending is at a high point in order to slow the economy from over growth. I feel that the risk...
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...year (2014) the global footwear market grew by 3.9% and this helped them reach 13.8 billion in reported revenue that same year. Also if a firm is based in North America and is looking to expand internationally it is a good sign since Europe accounts for 31% of the market value of this industry. These are just numbers so we will analyze the global footwear industry deeper by using porter’s five forces. This is made up of new entrants, supplier power, buyer power, substitutes, and rivalry. The global footwear industry threat of new entrants is very strong because the barriers to entry are relatively low. There are two areas that make it easy for new entrants to come into this market. The first one is distribution accessibility. There are many low-cost manufactures in the global market making it easy for new entrants to establish a viable supply chain. The second area is brand recognition is relatively low which makes it easy for new entrants to come in take some of the market share away from other firms. Some barriers that make it a little difficult for new entrants to gain some traction are economies of scale and government regulation. Economies of scale come into play since larger firms who are established can purchase in bulk causing newer entrants to look elsewhere. Also in some countries government regulation puts tariffs on supplies coming into the...
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...Washburn Guitars. Changing the price of the guitars that are sold would affect the demand for Washburn guitars that are bought by first-time guitar buyers. The demand for Washburn guitars will increase if they lower their prices. First-time guitar buyers want good value for the product that they are buying. Lowering the price would not have a significant effect on sophisticated musician buyers. Endorsements by internationally known musicians who use their guitars will increase demand by increasing customer awareness of their product. First-time guitar buyers will want to buy a Washburn guitar because one of their favorite musicians uses a Washburn guitar. These endorsements will make Washburn guitars a recognized brand name which will affect demand for first-time guitar buyers. Sophisticated musicians will also want to buy a Washburn guitar, if it is endorsed by a well-known musician, because they will think that it is a high quality guitar since it is being endorsed by amazing, popular musicians. These sophisticated musicians will want to buy signature guitars because of the prestige of the musician’s name. Another factor that would affect demand is Washburn guitars receiving great reviews. Customers will read these positive reviews in magazines and on the internet and they will want to go out and get a Washburn guitar for themselves. First-time guitar buyers will read these reviews and decide to get a Washburn guitar because they will trust its high quality. Sophisticated musicians...
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...also a complicated time because until closing preparations begin, the licensee's relationship is primarily with the buyer or the seller. During the closing period, new players come on the scene: appraisers, inspectors, loan officers, insurance agents, and lawyers. Negotiations continue, sometimes right up until the property is finally transferred. A thorough knowledge of the process is the best defense against the risk of a transaction failing. Key Terms • accrued items • closing • closing statement • computerized loan origination (CLO) • controlled business arrangement (CBA) • credit • debit • escrow accounts • escrow closing • Good Faith Estimate (GFE) • impound accounts • Mortgage Disclosure Improvement Act (MDIA) • prepaid items • prorations • Real Estate Settlement Procedures Act (RESPA) • survey • Uniform Settlement Statement (HUD-1) Learning Objective After successfully completing this topic, you will be able to describe the process involved and the issues that may concern both the buyer and the seller to comply with the requirements of both parties and allow a conveyance of clear and marketable title. Introduction Closing involves two major events. First, the promises made in the sales contract are fulfilled; second, the mortgage funds are distributed to the buyer. Before the property changes hands, however, important issues must be resolved. Many real estate licensees maintain...
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...Risk Paper #1 – New Vehicle Purchase Risk Assessment Introduction Whenever considering a major purchase in life one must carefully consider the risks associated with making these purchase decisions. These decisions should be treated as projects in such a way that proper planning, analysis, risk assessment and contingency should all be aspects of the purchase process whether formal or informal. Purchasing a new vehicle, like so many other major purchases (likely the second largest purchase one may make in their lives behind purchasing a new home), is no exception. Several risks accompany these decisions, these risks rank from high probability – high risk to low probability – negligible risk. Analysis Many factors contribute to the frequency and likelihood of risks as well as the severity of these risks. When considering purchasing a new vehicle careful consideration must be taken before signing a contract and driving the vehicle off of the lot. Each buyer will undoubtedly rank these risks differently; however the following analysis represents how one individual may assess these risks. Risk 1 – Needs Family and career needs are typically a high priority not only when purchasing a new vehicle, but also when considering the necessity of a new vehicle. Possibly one’s family is growing and the two seat sports car just will not cut it anymore. When considering a new vehicle this is often a priority for young families and must be considered as a high priority risk, making sure...
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...company’s product or service from rivals’ in ways that will appeal to a broad spectrum of buyers. c. a focused low cost strategy: concentrating on a narrow buyer segment and outcompeting rivals by having lower costs than rivals and thus being able to serve niche members at a lower price. d. focused differentiation strategy: concentrating on a narrow buyer segment and outcompeting rivals by offering niche members customized attributes that meet their tastes and requirements better than rivals’ products. e. best cost provider strategy: giving customers more value for the money by satisfying buyers’ expectations on key quality/features/performance/service attributes while beating their price expectations. 11. What are distinctive features of a broad differentiation strategy? Under what circumstances is a broad differentiation strategy appealing? The distinctive features of a broad differentiation strategy are: command a premium price, and/ or increase unit sales (because additional buyers are won over by the differentiating features), and/ or gain buyer loyalty to its brand (because some buyers are strongly attracted to the differentiating features and bond with the company and its products). A broad differentiating strategy is appealing when buyer needs and uses of the product are diverse, there are many ways to differentiate the product or service that have value to buyers, few rival firms are following a similar differentiating approach, and...
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...case is because its setting is in Nyack, New York, and that is where I grew up as a child and call home. Although I grew up in Nyack I had never heard of this house that is haunted so I thought it would be an intriguing topic to look up and write about. Although I have never heard of this case before, I have heard many stories of places around that area being haunted, some including the school I attended. This case is about the plaintiff Stambovsky wanted to purchase a house in Nyack, New York. The defendant Ackley had previously advertised that the house was haunted by ghosts between 1977 and 1989. Stambovsky had written an article about the house on readers digest and also had the house displayed in a haunted tour. Stambovsky went into the contract but did not know the house was haunted due to the fact that Ackley did not provide that information. Upon learning that the house was haunted, Stambovsky wanted to rescind the contract of sale for the home and have his down payment of $32,500 repaid back to him....
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...Magisteruppsats i Informatik Master thesis in Informatics REPORT NO. 2008:034 ISSN: 1651-4769 Department of Applied Information Technology Soft Systems Methodology in action: A case study at a purchasing department Using SSM to suggest a new way of conducting financial reporting at a purchasing department in the automotive industry OLLE L. BJERKE IT Universtiy of Göteborg Chalmers University of Technology and Universtiy of Gothenburg Göteborg, Sweden 2008 1 Using Soft Systems Methodology at a purchasing department to conduct a study of financial reporting needs Olle L. Bjerke Department of Applied Information Technology IT University of Göteborg Göteborg University and Chalmers University of Technology SUMMARY The aim of this essay has been to try out Soft Systems Methodology on financial reporting at Volvo Cars Corporation (VCC). VCC saw a possible opportunity to improve their reporting processes, and SSM was chosen to deal with this possible problematic situation. Action Research became the natural way of conducting the study since it is almost a mandatory way of conducting SSM. A delimitation was made due to limited resources and only a small part of the purchasing department was involved, namely electrical purchasing. The result of the study is the artifacts from the different SSM steps that points upon how the participants would like the reporting system to be as well as many issues with the current reporting process. These outputs from the method...
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...just not ready. Although some people believe they are not financially ready to purchase a home, buying a house is a better option than renting an apartment for three main reasons. First, becoming a first time home buyer can be a very exciting experience that can have a positive long-term effect on some one’s life. Second, a home buyer can make any modifications or changes to a home. Third, and most important, you will eventually own your home. With those three examples, I will show the advantages of buying a house over renting an apartment. The first advantage to buying a home verses renting an apartment is that first time home buyers usually receive incentives or rewards for being first time home buyers. If the home buyer is purchasing a newly built home, usually the builder will give little incentives such as appliances in the home, a gift card to purchase new items for the home or even interior upgrades to the home. In recent years, there was a huge increase in the home buying market. This was the first time home buyers tax credit approved by the federal government. According to "About Incentives For First Time Home Buyers “(n.d.), “In 2008, the American Housing Rescue and Foreclosure Prevention Act gave a tax credit of $7500 to new home buyers. The government passed this credit to give a new impetus to the housing economy” (para.2). Although apartment The Advantages of Buying a House over Renting an Apartment renters may receive an incentive...
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...The first step to purchasing a new home is deciding exactly what the needs are. How big of a home is needed that will fit within the budget. The family was growing, and there was no longer enough room for everyone to live comfortably. The main priority was finding one with a minimum of four bedrooms and at least two bathrooms. After deciding on this, the location, and budget were the next to be considered. Before moving forward, finding out how much the borrower would be approved for had to be done. After this was completed the next step was to find the nicest area that had a qualifying house within the budget. After all of this was completed, the next step was to view different homes. Narrowing down exactly what area was more favorable and was most convenient for the home buyer. The next step was making an offer on the favorite home and waiting to see if the offer would be accepted or rejected. After the offer was accepted the next step was setting a date for closing and being able to move into the new home. The only steps of the decision making process used in the above scenario was the first step. The first step is diagnosing the problem. The home buyer noticed the need for a bigger home in order for their family to live comfortable. The fourth step is making the choice. This was done when the borrower made the choice to purchase a new home. Last the fifth step is implementing the decision. This was done when the home buyer took necessary steps to being able to purchase...
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...outperform the competition. For Boeing, trying to become the global leader in its industry again meant that they needed to launch an exceptional, better aircraft than their competition, Airbus. They were also relying on foreign partners more than ever before to get every part ready in time for assembly. With the launch of their 25th model named the 787 Dreamliner, scheduled for delivery in 2008, Boeing promised to provide airlines with a fuel efficient aircraft and passengers with a modern, convenient airplane that will take them distances in comfort at competitive prices. A potential benefit of this new aircraft was to decrease fuel consumption by 20% making it more environmental friendly with its quieter takeoffs and landings. The market structure for the Dreamliner has an oligopolistic nature which means there are few aircraft manufactures which sell large quantities to its buyers. With Boeings biggest competitor Airbus unable to compete with the Dreamliner product, Boeing has the chance to take over the market for commercial aircraft. The demand for the Dreamliner is derived demand. Due to customer demand for comfortable fair priced airline travel, the demand for the Dreamliner will increase. Customers demand comfort during air travel and the Boeing Airliner promises added luxuries that will increase customer purchases to those airlines with a Dreamliner aircraft. The chief project manager for the Boeing, Tim Cogan stated, “It’s not just an evolutionary step…it borders...
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...Assignment Topic Develop a marketing plan for one or two new products in your own business and/or another business in your country or region with which you are familiar. Title Bank Home Loan Package to two new market segments, First Home Buyers and First time Investors. Word count (from the start of the Introduction section to the end of the Conclusion section):2118 Table of Contents Assignment Topic 3 Title 3 Word count (from the start of the Introduction section to the end of the Conclusion section):2118 3 Executive Summary 4 Background 4 Objectives 5 Marketing Strategy 5 Product and Price 6 Place 7 Promotion 7 First Time Investors 8 First Home Buyer 8 SWOT 8 Internal 8 Strengths 8 Weakness 8 Opportunities 8 Threats 9 External 9 Strengths 9 Weakness 9 Opportunities 9 Threats 9 Sales Volumes, Market Share and Profit. 10 Target 10 Measures 13 Branch 13 Call Centre 13 Internet 13 Dashboard 13 Demonstration of success 13 References 15 Executive Summary This is a marketing plan that provides the details of a three month campaign designed to generate new leads, increase sales and drive up product usage for a Banks home loan product to two new segments. Through the implementation and iterative refocussing of below the line trigger programs along with in house analysis, new target markets have been identified, First time investors and First home buyers. The marketing plan discusses the current marketing situation with background on the...
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...First Time Home Owners Tax Credit Laura R. Kohler National American University Everyone dreams of owning their own home at some point in their life. This idea is set into our heads as children. We grow up, get a job, get married, buy a house and start a family. It’s the American dream. What if there was more incentive to buying your first house? Good news, there is. The first time home owners’ tax credit was designed especially for you. That is if you so happened to purchase your home between April 2008 and April 2010. In 2000, the United States economy began to fall. With this fall came the housing market crash. Some say that the housing market has yet to recover. It’s made a big step though. With the big fall in the housing market, Washington got worried and decided to step in to help. In December of 2009 mortgage rates were at a historical low. There were ideas of making a tax credit that would be 10% of the purchase price to help lower mortgage rates for anyone who bought a home. They thought that this would make people jump at the opportunity and finally make that first purchase. Another idea was to help struggling owners lower their mortgage and refinance. The problem with this was finding out who should really be saved. Purchasing is an amazing first step. It’s a great way to start securing a financial future for you and or your spouse and family. The big question is, are you ready? One of the first things that you will need to figure out...
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...buy matches in bulk for a cheap price in Stockholm and re-sell them individually at a very low price, but still make a good profit. From matches he expands to selling greeting cards, flower seeds, Christmas tree decorations, and later pencils and ball-point pens. When he was 17, his father gives him money as a reward for finishing his studies. The name “IKEA” itself derived from his name (the word “I”), the first letter of the village he grew up, Elmytard (the letter “E”), and Agunnaryd, his hometown in Småland, south Sweden. Ingvar’s strategy was to sell his wares in a reduced price. Since then, IKEA grows more rapidly in the following years. From rural area in North Sweden, IKEA grows as one of the most-renown furniture company in the world. Ingvar released his first advertisement in 1945 when his business outgrows even his own ability to make individual sales calls. In 1948 was a significant year for IKEA. In this year, Ingvard introduced the first furniture in his product range. Unbeknownst to him, the furniture business will be the hallmark of IKEA. The first furniture showroom opens in Älmhult, IKEA to prove its superiority against its competitor who sells low-price products. In the site that will be the futurefirst store and headquarter of IKEA, Ingvar proves the more superior quality of his furniture. Thus, winning the joust with his competitor and paving IKEA’s future as the world’s biggest furniture retailer. The year was 1953. Three years later, when...
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