by Graham McIntyre | May 23, 2014 | House$ales
It surprises me how simple to understand the property market is, and how complex some commentators and political figures try to make it. Let me try to simplify all the babble that you may have encountered over the last few months and put it into perspective. If there is only one house for sale and three people would like to buy that house, the price will increase. If there are three houses for sale and only one person that wants to buy, house prices are likely to fall. It is the basic fundamentals of demand and supply that can be seen in all manner of markets from garage sales to share markets. Therefore if you are looking for a cheap bargain, start looking in areas and at houses that no one else wants, have a plan and a budget to change the area or the house to be more appealing to more people. When you are considering selling your home it pays to talk to an agent that understands how to create more appeal, and how to generate competition from the market. One such agent is Graham McIntyre from Mike Pero Real Estate. The feedback that we receive, and the independent testimony on http://www.localist.co.nz/l/mikeperorealestate will give you confidence and some understanding. His new web site https://www.grahammcintyre.co.nz/ provides a House$ales blog providing the most recent sales over the last month in your area, so you can keep pace with the market. You can contact Graham on 0800 900 700 for a free no obigation chat.Real Estate...
by Graham McIntyre | May 15, 2014 | House$ales
First-home buyers may get only gradual relief from Reserve Bank speed limits on low-deposit home loans, which may be phased out from the end of the year at the earliest, the central bank says. The restrictions on higher-risk lending were imposed in October and have hit hardest at the lower end of the housing market, where sales volumes have slumped. Some first-home buyers have been frozen out of the market, though they still make up almost one in five buyers. In its Financial Stability Report, out yesterday, the Reserve Bank also said houses were overvalued and household debt was high compared with incomes, but the country’s financial system remained sound. But speed limits on low-deposit home loans brought in late last year would stay in place till late this year at the earliest, the bank said. Without the speed limits, house prices would have been 2.5 per cent higher in the March year. It would remove the limits only when house price rises cooled down and were rising more in line with the growth in household incomes. Deputy governor Grant Spencer said the speed limits could “potentially be lifted to some interim stage before it is removed”. The Reserve Bank had not yet thought how long such a phase could last. The housing market is being pushed up by a shortage of homes in Auckland and Christchurch, as well as much stronger than expected migration. But interest rates have risen twice so far this year and another move is expected next month. Before the Reserve Bank imposed the speed limits on higher-risk loans last year, such lending made up...
by Graham McIntyre | May 14, 2014 | House$ales
Thank you for the opportunity to provide service to you, and keep in contact with you regarding the values in the area and the possible marketing of your home in the future. We are still experiencing very strong demand in residential and lifestyle markets and we expect this to continue through the next 6 months, although there has been some cooling through the loan value ratio and the .5% increase in the base official cash rate. The reserve bank is making noises that the loan value ratio of 20% deposit may be scraped which will increase the buyer pool. What typically happens over winter is listings decline while buyer demand stays stable, therefore creating more demand for the fewer properties on market, which in turn pushes prices up. If you are thinking about selling in the next 3 months let’s talk over the next few weeks and discuss our awesome $6000 marketing package offered at no cost to all our new listings. Real Estate...
