Before you flee Auckland...
Well - we're allowed out of Auckland now on December 15 - is anyone else super excited about that? Or do you think it's far too long to wait? Whatever your view there are only some things that are certain in life every year - taxes and Christmas.
With Christmas only 37 days away we have 36 days to market and sell you property. Yes, we have the last auctions online on Christmas Eve. Some people really do buy their dream home for Christmas.
You might be thinking that timing is too tight - but with the increase in properties to market (750 last month to 1193 last week on TradeMe North Shore) this couldn't be a better time to go to market. We can see banks tightening up on lending too with BNZ reducing its lending ratio to 6 times your income from 8 and mortgage rates are increasing. All indicating that this is the time to sell while there is heat and competition in the market.
We have seen an increase in people watching the online auctions from 1800 to 4,000 viewers last weekend, indicating buyers are ready and waiting to see your property. Jump in now!
This week on the Property and Coffee Chats Gavin will be joined by Katie Wesney and Shelley Palman from EnableMe.
Together they will riff on mortgages and how to slay them. And interestingly how to get an investment property early to get rid of your mortgage faster.
Join them live on Facebook Friday 9.30am and be ready to ask any questions you have in the chat.
On the weekend we sold a property that was 60% over CV...yes, you read that right - 60% OVER CV. So what is that telling us?
That your property is worth a lot more than you might be thinking. And also more than what the algorithms say on an external site. So, we've made it super easy to get this valuation by filling out our new Online Appraisal Form - fill it out here and we'll let you know what your property is worth in todays market in 24 hours - no pressure and all free.
While events are all a no-go at the moment Harcourts Cooper & Co still wanted to support NZ Women's Refuges and hold the annual NZ Sculpture On Shore event - virtually at www.nzsculptureonshore.co.nz
You can see the collection in an online tour which is rather cool. Know that next year we will take you in person!....well we hope we can!
Will Prices Drop Soon?
We have seen one of that sharpest rises in property prices ever recently. The North Shore is clearly the place to be and to invest. Prices have risen 28% to a median sale price of $1,475,000.
Now this is off the back of a slight drop off during Level 4 lockdown - so we don't want to be too over the top with our numbers - you can see this drop and rise on the line graph below.
While we love to say the market is hot hot hot, we also like to be the honest estate agent team and value being trust worthy.
So the flip side is that more people are coming to market now, and finance is getting harder to get; especially for first time home buyers. They have to have at least 5% saved themselves and pre-approvals greater than 80% lending are only valid on new builds. Debt to income ration has been introduced too. With all this new terms to get through pre-approval on loans are taking 10 to 15 days, often too long to get in to an auction process.
What does this mean for you selling? Prices may cool.
Now don't panic, we're not facing a dip, but if you want to get the high point your on the last days!
We have space for 6 more properties to go on the market right now and do a job we're proud of, so get on the phone with us and let's make use of the peak prices for you. Call the team on 021 150 1476 today.
If the next words off your tongue is 'but where will we move to if there is no stock and high prices?' then you're not the only one to say this to us. We have been advising our sellers
- to have longer settlement dates giving you time to find the right next move
- to work with us as we know lots of people in the same boat, wanting to sell but waiting, meaning we have lots of off market opportunities.
- we know how to gazump other agents and get you in at a lower price
- the market will cool as the boarders open up and people move back overseas.
If youโre thinking of selling and wanting to get yourself sorted before Christmas or ready for the new school year and be in zone then give us a ring on 021 150 1476 to chat about your options further.
We have some great properties that haven't hit the masses on OneRoof and TradeMe yet. Jump in before everyone else and get yourself a bargain!
Give the team a call on 021 150 1476 to have a chat about any of the properties and if appropriate we'll book you in a time to view them!
๐๐ถ๐ฟ๐ธ๐ฒ๐ป๐ต๐ฒ๐ฎ๐ฑ - 2 Bedrooms, 1 Bathroom, stand alone home, cute and tidy.
๐ ๐ถ๐น๐ณ๐ผ๐ฟ๐ฑ- 3 bedrooms, 1 bathroom, 2 toilets - a tidy modernised property.
๐๐ฟ๐ผ๐๐ป๐ ๐๐ฎ๐- 5 Bedrooms, 2 Bathrooms, 2 Lounges, Swimming Pool. An amazing property with elevated views right in the heart of Rangitoto Zone. Freehold Title.
๐ข๐๐ฒ๐ต๐ฎ- 3 bedrooms, 2 bathrooms, 1 lounge, double garage. Single level brick and tile. Freehold Title.
GUESS WHICH ONE WAS 60% OVER CV?!
Interest rates have been on the upwards move last week with all banks increasing their rates. The banks specials vary quiet significantly:
1 year - 2.85%
2 years - 3.25%
3 years - 3.55%
4 years - 3.99%
5 years - 4.29%
We would love to help you with your property needs and that includes helping you with finances - we have trusted partners that we can introduce you to.
If you are looking to sell, buy or interested in a free property appraisal of your property, please do not hesitate to contact us.
Keep writing the list, checking it twice, wearing a mask and pushing forward to 2022!
We will see you very soon for a bubbles Penny.
Gavin, Michelle, Sam, Trey and Penny
