Talking Real Estate
Mortgagee Sales
Hi folks,
Last week I sold a property by mortgagee auction in Riverstone, my first experience of a mortgagee sale in New Zealand. Recently there has been a surge in such sales around the country, indeed a few years ago with prices rising it seemed a great idea to buy a few investment properties, after all the rent will pay the mortgage, then later you can enjoy the capital gain. It seemed a good idea at the time.
Looking at the Sales Figures
Hi folks,
Lies, lies and damned statistics, I love that phrase, especially as I look forward to the aforementioned statistics coming out every month. So why bring this up after 2 years of foisting my musings on you and utilising the same statistics to show you what the market is really doing?
The Residential Property Market: Has It Turned a Corner?
Hi folks,
Today I would like to discuss the property market as a whole rather than focus solely on Upper Hutt, it is apparent that there is some positive feeling back in the property market after what feels like a very long period of negativity, this is based on my own (local) experience, and conversations with agents in Auckland after my recent break there and also what has been reported in national media over the last few weeks. With 4 consecutive months of declines in new listings, the residential property market seems to have turned a corner. Whilst there is no expectation of a resurgent boom in the market, what is likely to be seen is more of a cautious pace of activity maintained over the winter as buyer demand is challenged by pockets of real shortages of listings.
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Good News for Vendors
Hi folks,
Interesting times in the property market still, I have been reading over the latest sales statistics from the real estate institute regarding Upper Hutt and they are sending some positive messages out. The really good news for vendors is that prices appear to have stabilised with the median selling price up to $320,000 in May from $313,500 in April. However this is well down on May 08s median price of $339,500.
"Perception is Reality"
Hi folks,
There is a saying that I pretty much use every day about real estate, and that is “perception is reality.” If someone believes something then it must be true, no ifs or buts, that’s simply the way it is. As an example ask 4 different Hurricanes fans who their player of the year is and you will likely get 4 different answers (ok, maybe not for this year when Ma’a Nonu has been absolutely outstanding) All four fans will have a compelling argument about why their player is the best, they may listen to other arguments why a different player is the best but they will not change their opinion, their perception is their reality.
If a Property is Priced Well, It Will Sell
Hi folks,
I’m going to discuss the April 2009 sales statistics in Upper Hutt in this column and would like to apologise that at the end of May I’m talking about last month’s market. The reason I’m late with this are two-fold, the first is that agents don’t get the Real Estate Institute figures until the 12/13th day of the following month, the second is that as regular readers are aware this a fortnightly column. So typically my last column on the 13th may was the day the figures came out and too late for me to comment. I hope this clarifies some time lag anomalies that I have recently been questioned about and confirms that I’m not slow in dealing with any potential changes in the market.
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Sell Your Property... or Rent It?
Hi folks,
In recent times I have met some people whose property is valued less now than when they bought so I thought I would ask the question, Is it ever financially sound to hold onto a property that doesn’t reach the desired price rather than sell for less?
The Very Usual Seasonal Bubble
Hi folks,
It seems it’s been a while since I last looked at the sales market in Upper Hutt so thought I would address it today. I’ve been talking to a lot of people who are raving about how the market is back to normal and all is well in the property world again after the “high” sales figures of recent months. Before I go any further I would like to point that I’m a happy chap generally, my glass is half full and I tend towards the positive, life is too short for anything else.
The Best Way to Measure Sales
Hi folks,
I have to confess to finding the last fortnight’s media comments about the housing market fascinating, not least of all because it seems that the tide has turned and all appears well again now February statistics are out. The reason I find it so fascinating is that from real estate circles the market has bounced back considerably in February compared to January. Well I may not be the brightest button in the box but now is the time I start studying for a masters degree in stating the obvious.
Ask Your Agent for Testimonials
Hi folks,
Trust is the most important element of the sales process or any relationship where communication is at the heart of the transaction. It stands to reason that if you don’t trust the person that is selling your single greatest asset, communication is likely to break down and the sale process is unlikely to produce the best outcome. Many prospective vendors say they choose an agent based on their gut feelings and that having an eye for character helps as it does in any situation where trust is involved.