colinrealestate

One thing we can tell you is that in these challenging times, when overall sales are at generally low levels, it is almost always the case that if the property is on the market, the vendor is serious about moving on.
So when you find that ideal next step, don’t dally nor go chasing discount rainbows. There are other serious buyers out there too, many vying for something similar to your own dreams… And the pricing today has generally already taken into account the value shifts driven by the global financial turmoil.

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Not unlike the situation with the number of properties on the market, there are certainly fewer buyers in the market than have been seen in the past few years. And what this, as a generalization, means to vendors is the need to very carefully consider every offer that is presented.

Yes, the Spring may well bring more buyers out, but as we’ve said in these pages before, it also brings a great deal more listings to the market….competition, in other words

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Sometimes even colour of the exterior walls will put people off buying a home! Everything else might be pretty well perfect, but the deal won’t be done; all for a few hundred dollars of paint and either some labour or challenging weekends.

Over winter we often hear of this sort of situation regarding heating, or even more technically challenging….no double glazing! The layout’s perfect, size bang on, schools and shops close by, plenty of sun and outdoor living…even a study, but no double glazing, “so we can’t buy that one!”
What a tragedy.
A chat with a glazier might surprise.

Our General Manager recently bought a single glazed home [half the roof is glass!] and was able to settle on a further $8,000 investment in double glazing panels inserted into the existing frames to bring his house into the 21st Century. He and the vendor sorted out a mutually acceptable and highly beneficial arrangement and now all parties are happy.

So if you find that home that is ‘almost perfect’ give it a second look. You might be pleasantly surprised at how cost effectively you can find a resolution to a missing feature off your wish list.

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We’ve commented previously on the demand for four bedroom executive homes, our Property Management teams have been increasingly asked for them over recent years, but this year it’s gone into overdrive in may markets!

Many families taking the rental path have had to move to find work but have chosen to rent out the original home until more prosperous times arrive to sell. Others have taken the decision to rent permanently and invest residual funds in places other than property, while some just can’t get that deposit together to buy so are renting in comfort meantime.

Coupled with this has been an increase in landlords seeking long term tenancies and offering diminishing rental rates for longer periods, This practice is regularly seen in Australia where the weekly rate for three months tenancy is discounted by quite large proportions for, say, 24 months. Mind you, the “buy out” clauses for tenants departing early are very stringent. If you are looking for a property to rent, speak with a qualified Property Manager to ensure you are fully informed of all the details and get the best deal.

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Winter is usually the time people start to evaluate their power accounts, and wonder where it all goes. These helpful tips might be able to save you some money this winter…
1. Homes without insulation
An enormous waste of power, yet most old homes are easily insulated. Keep curtains drawn at night.

2. Hot water too hot
If the hot water is more than 55°C at the tap, it is too hot, and will be wasting power. If you have a consumer adjustable thermostat on your hot water cylinder it should be set at around 60°C.
If not, do not attempt to change it yourself, call an electrician to adjust the thermostat for you.

3. Inefficient use of hot water
Put the plug in the sink when rinsing items or use cold water. Pouring hot water down the drain is like pouring money down the drain.

4. Fix your shower
If your hot water use is consistently higher than you expected, or you are often running out of hot water, then you should check the water flow rate of your shower. Hold a bucket under the shower rose at your normal settings for 15 seconds. Measure how many litres of water are in the bucket and multiply the volume by 4, to work out how many litres per minute you are using. More than 12 litres per minute is a waste. To slow this volume down, either use your shower settings to lower the amount of water coming through your shower rose, or get a plumber to install a flow restrictor.

5. Faulty Ajax valve
If you have hot water leaking on to your roof, chances are your Ajax valve is faulty. This is a real power waster, yet an easy, low cost job for any plumber to fix.

6. Leaking hot water taps
Stop this major power waster by replacing leaking tap washers.

7. Faulty oven thermostats
The simplest and most cost-effective remedy is to replace your thermostat with a new one.

8. Poorly ventilated dryer
Open windows and doors to keep laundry and dryer well ventilated.

9. Inefficient use of heaters
For greater comfort and lower power bills, use heater thermostats and timers.

10. Worn door seals
Fridges, freezers and ovens with worn door seals use too much power. Most appliance centres supply and fit replacement seals.

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Only a month after the Budget tax cut announcements we are seeing an increasing number of first time home buyers visiting Open Homes around the country and enquiring off the websites!

Seems they’ve done their homework on just how much extra they will receive weekly after the tax cuts and increased GST take effect and yes, many comment they hope they are first to spot the listings of property investor homes coming on the market in advance of the 2011 cuts in claimable depreciation.

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That’s right, even though there is very little growth in the garden over winter, any house that has had the lawns mowed, hedges trimmed and weeds removed will stand out.

“Why?” You may ask? Simple really… because most people, even those on the market, don’t like to get out in the garden in the cold and wet of the winter. So, if you do so, your home will be even more unique than in the warmer periods of the year when everyone is out in the garden

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Already the market appears to be reacting to Bill English’s budget with, it would seem, households set to gain from both the drop in Company Tax and Personal Tax already showing greater interest in buying.

The other end of that is it would seem that months of pent up demand might now mean well presented properties will increasingly be under buyer pressure.

A good time for your home to be on the market?

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Well, we’ve commented in these pages on that one before! Usually, when winter comes around, sellers stay out of the market because their strong belief if that their home looks better in the summer! True, but so does every other sellers’ home, so competition is hot in the Spring and Summer.

All we can say is that we have seen record enquiry levels on the websites these past three months, the budget has freed up some money so many…and there already appears to be a lift in buyer enquiry across the board.

If you’re thinking of selling, why not give me a call and let’s discuss where best and when, to put your home to market.

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In a major move, the Reserve Bank has signaled it will consider capping the NZ dollar against the USA dollar at 70cents, bringing, at last, a security of income for exporters, especially the rural sector.

This, when read alongside the extra income from lowered tax, might well see banks prepared to free up the presently exceptionally tight rein on rural lending. For a considerable time now we have seen almost every private buyer’s proposal to all banks turned down. Watch this space!

And if you are involved in rural New Zealand, look out for First National’s Fieldays stand at Mystery Creek, Hamilton from Wednesday 16th to Saturday 19th June at our new site F69.

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