House prices rise almost $100 a day

Hutt Real Estate Agent

Real Estate Planning with Anna Manning

The average New Zealand house price rose by $98 a day or nearly $700 a week over the past year, a new analysis shows. For many daily wages are eclipsed as the relentless rise of home values in growth regions outstrips pay packets

Makes for an interesting read – check out the full article

House prises rise almost $100 a day

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Peace of mind important in choosing how to sell a home

Lower Hutt Real Estate Agent Professionals redcoats Anna Manning sold sign 1

Real Estate Planning with Anna Manning

Deciding how to sell your home can be as daunting as choosing which shade of white to paint a room. One real estate agent’s advice is to pick the method that’s the least stressful.

“In the end, the method you choose should always be the one which you feel most comfortable with,” John Ross, of Professionals, Redcoats in Lower Hutt, says. “You want peace of mind rather than doubt and concern that you have used the right method. All methods work – choose the one that will work best for you.”

The chief selling options are for sale by negotiation (fsbn), auction, tender and buyer enquiry over (beo).

“If selling by negotiation, we encourage no-price marketing in the initial period.”

“We have resounding evidence that if the asking price is set more than 5 per cent above the market, buyers are put off and the property quickly acquires a stale stock status.”

“Rather than risk your home losing market value because of this, it’s better not to list it with an asking price,” Ross says.

“Buyers will sometimes pay more than the owner was anticipating and at other times much less than the owner thought their property was worth.”

“No-price marketing allows the owner to get buyer feedback before they price their property, thereby avoiding the wrong price and with it the risk of slipping into the stale stock downward spiral.”

“A property should have a price on it within no more than a month on the market and to achieve a good result, this price should be based on credible feedback from buyers who inspect the property during that period.”

 

Auction and tender are the most common forms of sale without an asking price. Ross says their key advantage over fsbn is they set a date of sale. “Buyers focus on this date and it helps them make up their mind rather than delaying the decision to purchase.”

Ross says the real estate industry is encouraged to use “pure form tender,” which means the property is not to be sold before the close-of-tender date. So a buyer turns up a week into the marketing and wants to buy on the spot, the owner can’t sell it – however good the price might be – until the close of tender. “In the waiting period, the buyer may cool off or find something else,” Ross says.

 

“Auction is the preferred method of sale for buyers. It is open and transparent and gives them the opportunity to compete right up to their limit, rather than missing out by a thousand dollars, as happens with the other methods. “They bid with confidence knowing that one or more other buyers see the same value in the property.”

“For the seller, their position is protected by a reserve and the bidding gives them peace of mind about where the market really sees the price.”

“This is the method most often used by banks, liquidators and many times by trustees for estate sales, as the courts recognise it as robust for audit and accountability purposes”

 

Ross calls beo “a poor hybrid” of the other methods. “We have found buyers use it as the asking price and offer less rather than more”

“The Commerce Commission has ruled that it is misleading to offer a beo price if the owner will not accept that price, so I therefore ask: What is the benefit of using beo rather than an asking price?”

 

Article Source: The Dominion Post – Property Market -31 May 2014

Anna Manning is a Real Estate Agent at Professionals Redcoats Lower Hutt

Five tips for adding value to your home

Letterbox Before and After
Real Estate Planning with Anna Manning

Would you like to add value to your house through renovation?

You may be surprised about how important it is that your letterbox gives a good first impression and have you thought about converting your hot water cupboard…

Check out the five tips for adding value to your home article below
5 ways to add value to your home

Anna Manning is a Real Estate Agent at Professionals Redcoats Lower Hutt City.

What is your home worth professionals real estate AM

Update your kitchen, bathroom and hallway using cost-effective stylish loose-lay vinyl

gerflor-texline Real Estate Agent Lower Hutt Professionals Redcoats Anna Manning
Real Estate Planning with Anna Manning

Want to change your interior? Need a new floor for the kitchen or the bathroom?

A cost-effective, practical solution to get your home ready for sale is Gerflor Texline – stylish, contemporary vinyl flooring.

Recently I have seen Gerflor Texline Flooring appear in more and more of the homes I see, yet many people have not yet heard of this stylish flooring you can use to quickly and easily update the look of your kitchen, bathroom and hallway.

It is a range that was designed and manufactured in France but customized specifically to suit the needs of New Zealand homeowners. It’s revolutionary textile backed flooring surface combines the warmth, comfort and quiet of carpet with the practical, hardwearing benefits of vinyl. The textile backing is made from 95% recycled fibre. It absorbs subfloor irregularities, which means Texline can be installed on top of virtually any surface providing there is no height variation or irregularities. It is moisture resistant, which allows this flooring to be installed in every room in the home.

You can choose from an extensive range of décor fashion colours and designs, from the classics, to latest wood looks, modern all over patterns, large format tiles, to the edgy, to help you shape that individual look and feel you desire for your house as you get it ready for sale.

Cost effective, this flooring is reasonably priced (Approximate pricing starting at $40 per square metre). Available at Carpet Court Lower Hutt where they offer a free measure and quote service on this product.

Check out the Gerflor Website, and the Carpet Court Website for accurate information on pricing and product.

Anna Manning is a Real Estate Agent at Professionals Redcoats Lower Hutt City.

Buy first, or sell first?

Buying a home in Lower Hutt
Real Estate Planning with Anna Manning

Buy first, or sell first?

The prospect of selling your house before you have established where you are going to move to may seem daunting, but the reality is a huge number of home hunters actually find the property they want within a relatively short time.

So, don’t be afraid to sell first – then buy.

Selling first means you will have your financial arrangements already taken care of and you have the freedom to bid at auction, or to make an offer knowing you are in a strong position to negotiate on price and time.

There are two major financial considerations to buying before selling: –

• If you make an offer on a property before your house is even on the market, the seller of the property you want is less likely to be willing to negotiate on the price or terms.

• Selling your house as a condition of contract to buy another, usually means you have a very limited time in which to complete a sale for your existing property. This means you can be under pressure to accept a low market offer.

Anna Manning is a Real Estate Agent at Professionals Redcoats Lower Hutt City.
Sourced: Professionals – Pathway to buying your home.

3,400 new homes (that’s about 170 a year) will be needed to maintain Hutt City’s population.

Anna Manning Lower Hutt Real Estate Agent Professionals Redcoats Blog Building a House Pic
Real Estate Planning with Anna Manning

Support for Housing Growth in Lower Hutt

Housing supply and affordability is an issue right across the country and it’s something that the Lower Hutt City Council is addressing in it’s Urban Growth Strategy.

Sixty-two percent of households in the Hutt City in 2032 are forecast to be one person households or couples without children – that’s because New Zealand has an aging population and families are downsizing.

3,400 new homes (that’s about 170 a year) will be needed to maintain Hutt City’s population.

To manage this, Council’s Urban Growth Strategy targets an increase of 6,000 homes in the city by 2032. This will be achieved through a mix of housing development and targeted intensification in certain parts of the city.

Mayor Ray Wallace says, “It’s important that Council works together with developers to ensure that they build quality, affordable homes”.

“Greenfield land has been in short supply in the city and we are helping to address this by partnering with developers to help provide the infrastructure needed to bring over 74 hectares of land onto the market in Kelson and Wainuiomata. This will help to provide sufficient land for at least 1,100 homes”.

Council would like to see low-rise apartments in a limited number of sites in the city. These sites have been chosen because they are close to main centres, key public transport routes, and/or high levels of public amenity.

The four locations identified in the Urban Growth Strategy for low-rise apartments are Waterloo, CBD Fringe, Petone Esplanade and Eastbourne Village/Foothills.

Any development of low-rise apartments will be expected to be designed to a high standard with a particular focus on type and mix, lifestyle and community amenity.

Article Sourced: Hutt News – 29/04/2014

Using colour to attract more buyers when selling your home

Anna Manning Lower Hutt Real Estate Agent 100
Real Estate Planning with Anna Manning

Have a look at this interesting article that suggests using a strong burst of colour to give your marketing real impact when selling your home. Carefully using colour in your home will not only look fantastic in the photos used to market your house, it will almost certainly help to attract buyer’s attention to your property too.

As this article suggests – the best way to decorate with colour is to check out what’s working in other homes and simply copy it.
Using colour to attract buyers when selling your home

Home Buyer’s Tips

couple buying a house
Real Estate Planning with Anna Manning

Have you already started looking to purchase? Then this may help. In addition to assisting you with the sale of your home I would also like to help you achieve your goal of purchasing as well.

These helpful hints and tips may assist you and make your life easier when looking for your dream home.

What to look for in a property –
When you are thinking of buying your requirements will vary depending on your personal circumstances – you may be looking for a family home, a large garden, less of a garden, an investment property… the list goes on. Once you have clearly established what your requirements are, and what elements of a property are a must for your circumstances then it is time to start looking.

Checklist of things to consider when buying a house:

• Firstly, do you need to sort finance? Work out your budget.

• What type of title is the property? Is it a Fee Simple, Cross-lease or Unit title? Ask your solicitor to advise on the title.

• Is it in an area likely to hold resale value or benefit from capital growth?

• Does the house and any alterations made to the house have the required Council permits?

• Is the house sound? If you have any doubt, hire a building inspector to check.

• Are there any long-term costs or issues such as body corporate fees, jointly owned driveways etc?

• If big changes are needed to make the property comfortable, then it is a wise to have an idea of these costs before you make an offer.

• Have you asked your local council about planning issues, are there any developments planned or construction of new roads nearby? You may
wish to consider a LIM report.

• Will you enjoy living in the neighbourhood?

• Is the house well insulated? Will it be warm in winter, cool in summer?

• Is the house and land suitable for your stage in life – are there too many stairs or is the garden too steep? Is there a safe area for
young children to play?

• Is there any risk of flooding or erosion?

• How much maintenance work will you need to do – or pay someone to do?

Once the main questions about your potential future house have been addressed, I recommend thinking about the house in even more detail…

• Will you have easy access to the facilities you need, such as schools, doctor, dairy and shops?

• Is traffic or noise an issue?

• Is it safe for your family, e.g. children, the elderly or disabled?

• Is the kitchen serviceable?

• Does the house have enough bedrooms and bathrooms?

• Check under the house – is it dry?

• Is drainage an issue?

• Is there enough garage space for you? Is the garage easily accessible?

• Is it suitable for your pets?

And the list goes on….

Hope these tips are helpful to you in helping you purchase and enjoy your dream home.