Entry to Private and Secluded Home

Every day we see many homes and all have features that, as a real estate agent, I can make the best of. But the reality is that many homes are not that different from the last so it is a relief when you find a home that’s different, yet completely livable and in a superb location. It’s a bit like finding a silver peso in a piece of plum pudding-you get so excited about the home that you forget, for a moment, that you are in a quiet suburban cul-de-sac only moments from Milford Village and Beach.

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Flooded Resort in Samoa

The tsunami in the Pacific last week hit the Samoan people on the North Shore and in New Zealand really hard.

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The Myth

A standard form and a rubber stamp

The Reality

Whether you are buying or selling a property,  conveyancing means a lot more than most people realise. When a Property Lawyer handles your conveyancing, this is what they do to make sure the biggest investment of your life is safe and secure for you.

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It may seem difficult, or even daunting, but there are many advantages to buying a house at auction. When the buyer and seller meet, and the hammer comes down, the true market value for that property will have been established. It’s a proven system of success.

Buying at auction avoids the traditional offer/counter offer negotiation process. An auction is an exciting, competitive environment where everything is out in the open. You can see your competitors and keep track of each and every bid. No deals behind closed doors!

Here’s my advice!

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Unfortunately, when buying property the chances are you will need to borrow money. This debt can be the largest debt you will ever have, and take the longest to pay off, so give the finance question the respect it deserves. And getting the best deal from the bank may save you thousands.

A Mortgage Broker can help lead you through the mortgage application process independently from the banks, get you a great deal and work with you to reduce your debt.

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The Three Auctioneers

During the week I met a client of mine who is considering whether to sell. We have talked about this sale over the last two or three years. She asked me, “Is now the right time?”, and then she said ” Stop being a real estate agent and tell me what you really think”.

I laughed- real estate agents are so full of bluff and bluster, (I’m being polite)-it sometimes is hard to know when we are being real or just spouting a line to get a listing! So I said, “You want me to be enthusiastic and positive, don’t you?!”

So, Is it really the right time to sell? Well, it’s your house, your land, and it really is up to you. I can only help you get the very best price for your house when you decide the time is right for you.

However, there are market factors, right now, that indicate that it is a good time to go to the market. Let’s look at the evidence on a national basis, locally and how it might affect you, today.

After two years of the ball being very firmly in the buyers court, real estate commentator  Alistair Helm of realestate.co.nz says the market is stable and swinging towards a sellers market, but there is a real danger of lack of stock driving up prices. The NZ Property Report, dated 1 Sept 2009, shows a clear lack of houses on the market, especially in the main centres. Auckland is the worst off, there are 45% (almost half) the number of homes on the market as there were a year ago. And this shortage of property for sale will drive up prices. One of the really scary things is that there are few homes being built, and little land being subdivided. Watch out!

Yet Auckland is New Zealand’s biggest city and the landing pad for most immigrants and returning ex pats. These buyers have cash and they are actively in the market buying homes with British Pounds and Chinese Yuan. Often this money is secured against overseas assets and borrowed with low interest rates. It is one of the reasons why the New Zealand Dollar is high. Overseas buyers have always valued New Zealand land and property highly, often higher than the locals ( think of British migrants in 1840, buying land from the locals for a few blankets!).  And while local interest rates are the lowest we have seen for decades, they are forecast to rise in the New Year, so buyers are buying and fixing their rates. Remember a loan in 2009 costs a third less than the same loan did a year ago.

So, locally, on the North Shore, there is a boom. How long will it last? I don’t know, you tell me. The auctions I have attended have been active and exciting. At 89 Forrest Hill Road, Forrest Hill about 200 people witnessed a battle royal. 3 bidders fought over an 1800m2 section with an original 1950’s weatherboard bungalow. It sold for $1,200,000. I have attached the bid sheet for you to see. 7 Trafalgar Road, Milford, a brick and tile 1960’s home, nicely renovated, with a pool, sold after a fiercely contested bidding war, for $900000. And 60 Kowhai Road, Mairangi Bay, sold for $855,000 3 weeks before the auction. The buyer made the sellers an offer they could not refuse, to avoid missing out (again).

Not every home is right for auction however, and some are more difficult to sell than others. If you are needing some advice, without bluff and bluster, call me.

Is now the right time to sell? The market evidence says YES.

Is it the right time for you? Only you can answer that.

If the answer is YES, give me a call on 0800618888.

A huge CONGRATULATIONS to Phil McGoldrick (Harcourts National Auction Manager) who won the Australasian Auctioneers Competition – a fantastic result!

Some more great auctions this weekend too:
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Auctions

Last weekend Harcourts Cooper and Co ran 11 auctions, 9 of which are now sold. This is an outstanding result. We have 4 auctions this weekend – better get your skates on! Click on the links for a quick look and if you like what you see, call me right away on 0800 61 8888.

21 Beach Road, Castor Bay – Sunday at 2.00pm
23a Blenheim Street, Glenfield – Sunday at 2.00pm
2/690 Beach Road, Browns Bay – Sunday at 3.00pm
5 Muritai Road, Milford – Sunday at 3.00pm

During the last week, many new properties came to the market. These are our picks:

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