Tag: Pricing Your Property
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.
Good Workmanship Helps Sell Property
Hi folks,
Are you thinking of selling your home? Many home sellers forget that their home is more than meets the purchaser’s eye. They no longer remember that behind the smart décor there is attention to detail and quality workmanship. But these features often cost a lot even though they aren’t immediately apparent to purchasers. Could they add value to a home?
There is Only One Thing Ever Wrong With Property
Hi folks,
Well the Real Estate Institute sales figures are out and they make for some interesting reading regarding the Upper Hutt market in terms of numbers of sales and the median selling price.
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"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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Understading QV figures
Hi folks,
The regular readers of this column will know that I like to talk about the property market sales statistics. I believe as a property professional that it is vital to know as much as I can about my market, its changes, fluctuations and patterns etc. I mention this because recently I have noticed a disparity between the Real Estate Institute figures and QVs figures regarding average/median selling prices which generally come out at the same time every month. The difference between them last month was fairly significant, the REINZ stats showed a median selling price of $285,000 while QV showed an average property selling at $320,000.
A Great Moment For First Time Buyers
Hi folks,
Well the REINZ residential statistics for property sales in Upper Hutt are out and combined with the latest count of properties for sale in the area, it doesn’t look great for those people selling. It does look good for buyers though with a large supply of great homes for sale.
Not Good For Some People, Great For Others
Hi folks,
What great week it’s been sporting wise, the All Blacks took the Tri Nations beating the Aussies in Brisbane, the All Whites having defeated the Solomon Islands are now only 2 games away from sealing a place in the 2010 FIFA W orld Cup, The Warriors beating the Storm and moving into the NRL semis. I’m a roundball boy so good to see The Phoenix earning their first point of the season against The Mariners also England hammered the fancied Croatians in Croatia in another FIFA W orld Cup qualifier and it only gets better for me watching the Mighty Liverpool stick it to Manchester United 2-1.
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The BEO Method of Selling Property
Hello again, this week I’m going to address some questions raised recently regarding the Buyer Enquiry Over (BEO) method of selling property. As some of you may be aware there was a Wellington real estate salesperson who was taken to court by the Commerce Commission last year suggesting that the BEO method was a breach of the Fair Trading Act, simply put, A low asking price was offered but the actual selling price could be considerably above the asking. The outcome of the case was that the judge sided with the salesperson citing Australian practise that it was acceptable to work within a 10% range.