Not Property Speculators, Mr Bollard

It’s just people needing a home to live in. Trying to get to grips with where the property market is going is really difficult, and it really does depend on who you are talking to. Commentators all have their viewpoint while Real Estate salespeople at the sharp end know that right now, sellers have an advantage that they have not had for nearly two years. Buyers have arrived back in the market and they need homes to live in.

Last night, I attended an auction at 60 Kowhai Road in Mairangi Bay with a buyer. The auction had been “brought forward”. This means that prior to the auction date, a buyer had made an unconditional offer to the seller that was acceptable to them. To be fair to all parties, it is Harcourts policy to contact all other buyers and advise them that an offer has been made and that the auction has been brought forward to a stated time and date. At the auction the offer is declared, and if any other buyer wishes to make a better offer,they then have that opportunity. Otherwise the property is sold! And at $855000 the property was sold without further ado. a very happy seller and a very happy buyer. There were at least 6 other disappointed buyers, and a lot of local community interest.

And right now,we are finding more and more auctions being sold prior, as buyers act quickly to get the home they need!  FOMO-Fear of Missing Out is making people make their minds up quickly. If you are thinking of selling better call me right away.

Property… Ride it out or Leap?. Two market commentators go head to head with opposing views on the real estate market. This just shows you, even the “experts” don’t know!

Interest rates continue to be under downward pressure after the Reserve Bank held the Offical Cash Rate at 2.5% as the ASB slashed floating mortgage rates.

My take on this is that real estate is about people wanting needing a roof over their heads. Most of the buyers we are dealing with simply need a home and now is the right time to buy, for them. Interest rates are at the right level and prices are OK too, now is good.

Right now I need a family home for a pair of teachers who have returned to New Zealand from the UK, they want to bring up their family in New Zealand. A couple have been transferred from Wellington to Auckland and want a home in Westlake zone for their teenage family. A young couple with small children at Hauraki Primary School have $700000 to spend in Hauraki Corner. A couple who want to retire to the North Shore need a 2/3 bedroom freestanding brick and tile up to $500000 in Takapuna or Milford and another single guy wants to move from Australia to Milford to be near his grandchildren who go to school at Milford Primary School, he has up to $500000 to spend on a 2 bedroom townhouse, too.

These are not property speculators, Mr Bollard, they aren’t in the market  to make a quick buck or get a tax dodge, they just want a home. Sellers, call me if you can help.