Talking Real Estate
Meeting the Real Estate Market
Hi folks,
I have to confess that I barely remember Christmas, not because I over indulged on the hard stuff but because I have been so busy since the New Year with work appointments. So I was struggling to believe that there were only 34 sales in Upper Hutt in January, If pressed I would have guessed that the figure would have been nearer 50, but that’s why I wait for the actual sales statistics to be released so that I can take the guess work out of it.
Doer-Uppers
Hi, Folks
I have a couple of properties currently for sale that are most definitely “do-er uppers”, so this week thought I would discuss the potential perils and advantages of buying such a home. There is no doubt that some buyers are attracted to the clean slate potential of a property advertised as “renovators delight”. After all they get the layout, décor and colours they have always wanted and completely brand new. It’s also a way of getting into a preferred area at a lower price than normal. So is it really that easy?
Should you buy or wait?
Hi folks,
As this is my first column of the year I thought I would address the new years market, the people who are thinking they should move but are a little unsure. They may be nervous of market conditions or apprehensive of potential work changes. So the question is “Should you buy or wait?”
Some Interesting Sales Figures
Hi folks,
Well this is my last column of the year, so I thought a good one to look back at the real estate market in Upper Hutt and see how we compare with recent years. This year perhaps more than any other since 2007 has been the most surprising for me.
Put the Agent’s Site to the Test!
Hi folks,
You may not know this but the Tommys website has had a complete revamp, some would say about time too and I can assure you I have shared buyer frustrations, I’ve found it previously to be too convoluted and difficult to negotiate my way round. The new version is infinitely superior and that got me thinking about other property websites.
Bridging the Expectation Gap
Hi folks,
After a shocking October in terms of sales of real estate in Upper Hutt are we now going to see vendors bridge the expectation gap between their wants and needs in terms of price? There are many reasons why vendors’ expectations are higher than the market indicators suggest. A few vendors have unrealistic expectations of what the market will bring, some have held out too long for a nonexistent top dollar and have lost the momentum of marketing, others simply misunderstand that the market responds to supply and demand and as such, prices are not theirs to dictate.
Advantages to Trading Up in a Buyers’ Market
Hi folks,
I’ve had the same conversation recently with a number of potential vendors, some of whom realise that the value of their home has dropped and are stuck in limbo deciding whether or not to move in the current market. My opinion is simply this, if you are moving up the ladder, thinking of a larger home, “better” area, extra bedroom, living room bathroom etc, then this is a great time do it! The reality is that most people move when markets are rising, we get rushed along in the positive media spin, many of our friends are moving and for many other different reasons. What people don’t realize is that while you are getting more money for your own home, you are also paying more moving up the chain.
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The Common Misconception About GVs
Hi folks,
I recently had an unconditional offer that I had prepared and was set to meet the potential buyer when I received a call from them prior to our meeting. The buyer wanted to reduce their offer by $20,000 as they saw the 2010 GV had dropped by $20,000 from the 2007 GV.
"Sell Early, Sell Cheap" Is It True?
Hi folks,
As everyone is aware the property market is extremely quiet compared with recent years but I have found it interesting to see that some issues from a busy market can still be prevalent today. Last week I was talking to a colleague who had received an offer on a new listing, negotiations had taken place but the vendor was reluctant to accept as the property had not been on the market for long, this in spite of the fact the offer was excellent. This was undoubtedly a case of what I call early offer syndrome.
Upper Hutt Home Sale Figures
Hi folks,
It’s been a while since I last discussed the Upper Hutt property market so as we are now into Spring it seems appropriate to look back over the year to date.