Auction today! 33 Sheridan Crescent

33 Sheridan Crescent is being auctioned today from 3pm at Harcourts’ Upper Hutt office.

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Please ensure that if you are bidding you have met all due-diligence requirements and are ready to bid! Don’t forget that the deposit is 10%, to be paid immediately after the auction. If you require any variation of the standard terms please ensure that these are submitted promptly in order for the vendor to confirm.

Please get in touch with Jon urgently if you require assistance in any way – 0223275718

 

 

Special deal to help take the stress out of selling your house

Jon’s aim is to make the selling process as pain-free, profitable and enjoyable as possible for his clients.

List your property with Jon and receive the following FREE package:

  • cleancut-fwFREE Full Service clean of your property interior (normally $260) Fixtures – Walls – Ceilings – Internal Windows – Vacuuming – Mopping
  • FREE Oven and rangehood clean (normally $70)
  • FREE one-hour clean pre-open home per week until auction day (normally $75)
  • FREE Whole-house carpet clean (normally $200)
  • FREE two-hours of gardening (normally $50) weeding – mowing – perimeter trimming – weed spraying – hedge trimming – pruning

All work carried out by the excellent team at CleanCut – for all of your property maintenance needs call Ray 0284027241 or email ray.cleancut@gmail.com

Jon also offers:

  • FREE basic signage at the property
  • FREE basic listing on Harcourts.co.nz
  • FREE listing on realestate.co.nz
  • FREE midweek and weekend open homes
  • FREE single advert in Upper Hutt Leader
  • FREE property leaflets advertising your property for sale, delivered to the local area
  • FREE council records provided to buyers
  • FREE property title search
  • $500 (including GST) for a building inspection to provide to potential buyers.

To take advantage of this excellent special deal, call Jon today on 0223275718

 

REINZ Wellington Region Property Market Analysis for November 2016

REINZ have today released their latest data. Median house prices and sales volumes have grown across New Zealand during November, according to the latest accurate real estate data.

capture10 of 12 regions in New Zealand hit new record high median sale prices in November 2016, with the national median price also reaching a new record median of $520,000, and all but two regions showed double-digit percentage growth.

Only Auckland and Central Otago Lakes did not post new record median prices. Auckland eased back from a record in October, and Central Otago Lakes median continued to ease following its rapid price increase earlier in the year.

The number of sales for November 2016 was 7,576, an increase of 13% on October. Sales volumes fell 6% compared to November 2015.  On a seasonally adjusted basis sales for November fell less than 1%.

Focusing on the Wellington Region and compared to October, sales volumes fell 1% across the region, with sales rising 1% in Upper Hutt and Hutt Valley, but falling 6% in Eastern Wellington. Compared to November 2015 sales volumes fell 20%, with sales falling 16% in Upper Hutt, 18% in Pukerua Bay/Tawa and 18% in Central Wellington.

On a seasonally adjusted basis sales fell 19% compared to October indicating that the fall in sales was far larger than normal. The median price for the Wellington region rose $65,000 (+15%) compared to November 2015 to reach a new record high. Prices rose 27% in Northern Wellington, 25% in Pukerua Bay / Tawa and 23% in Central Wellington.

Compared to October the median price rose $23,000 (+5%), with prices rising 23% in Pukerua Bay / Tawa, 22% in Central Wellington and 13% in Hutt Valley. On a seasonally adjusted basis the median price rose 1%.

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The trend in the median price is now improving, although the volume trend is now steady. The days to sell trend continues to rise with the overall trend for the Wellington region still improving.

The number of days to sell improved by one day in November, from 27 days in October to 26 days in November.

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Compared to November 2015 the number of days to sell improved by two days. Over the past 10 years the median number of days to sell across the region in November has averaged 32 days. The Wellington region has the lowest level of properties available, with eight weeks supply available, a drop of 30% over the past 12 months.

REINZ Regional Director Mark Coffey noted that, “First home buyers are becoming more active in the market, although the number of investors has fallen away with the introduction of the new LVR rules. The big question for the market is the impact of the Kaikoura earthquake and the flow on effect for insurance. The market may be a little subdued over the next few months as insurance and other post-quake issues are worked through.”

View the full report HERE

Jon has three open homes today (4th December)

This Sunday is your final opportunity to view 41 Delaware Grove (3-3.30pm) and the stunning lifestyle property at 45 Crest Road (4-5pm).

There will also be the first open home for 33 Sheridan Crescent (2-2.30pm).

All properties are being sold at auction – contact Jon today for copies of the council files, building inspection and title documents. For all of those bidding at auction – don’t forget that you need to be in a position to bid as a cash buyer; sort out your insurance, finance and do all of your due diligence prior to auction day.

See you there!

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Are you considering buying an investment property in Upper Hutt?

If you’re looking to secure your financial future, you can’t go wrong with a residential property investment. When you buy an investment property you’re buying a physical asset, and for many people that means having a lot more control over where their money goes. To help you decide whether property investment is for you, here are some of the things you need to think about.

It’s all about yield

shares2Property investment is about maximising a future income stream. Whether you’re investing in a share of a multi-million-dollar commercial property or a small rental property, the fundamentals are the same. In both cases, the property’s yield is an important part of the decision-making process. In simple terms, yield is the standard measure of a property’s income earning potential. That means the rent the property will earn in a year, expressed as a percentage of its purchase price. For example, if you bought a property for $250,000 and you were charging a rent of $300 a week, your annual rent would calculate to $15,600 which is 6.25% of the purchase price. The yield or the growth return on your investment is thus 6.25%.

Boosting your yield

3513_200614023250_498Some astute investors will consider buying properties with low yields that, when improved, will generate a far greater return on investment. Take our example above of the property bought for $250,000 rented out at $300 a week with a yield of 6.25%; if you spent $50,000 on refurbishing the property and then rented it out at $375 a week, it would lift the yield to 6.5% and improve the overall capital value of the property. Money well spent!

Set your target

While it is a theoretical number that doesn’t take into account any likely periods of vacancy or any expenses you may be faced with, like insurance, rates or ongoing maintenance, the yield is a useful measure to compare the income earning potential of different properties. And for experienced investors, the yield or income earning potential is far more important than the actual price of the property. Many investors will target a yield they want to achieve, and if it meets their target they’ll consider it closely. But it’s easy for inexperienced investors to over capitalise on a property and end up spending more on it than is justified by the rental income it can produce.

Good yield, bad suburb

You may be surprised to learn that cheaper residential properties generally provide a better return on investment than more expensive homes, despite the fact you can charge a higher rent in the more expensive home. So you’re more likely to make more money owning three houses in a slightly more affordable suburb, than investing the same amount in one property in an upmarket location. Getting the yield right has a big impact on your investment income.

Do your research!

istock_000011948516small1Before you make any decisions about buying an investment property, it’s vital you look at all of the numbers. To calculate your actual net yield, factor in all of the costs involved in buying and maintaining your investment property over the year. The net yield is the income you can expect to earn once all costs have been factored into your gross yield. The costs involved in maintaining or refurbishing the property could mean the difference between buying a sound investment property versus a long-term drain on your finances. If you think it’s time you considered buying an investment property, but you’re not sure where to start, talk to Jon about connecting you with Mortgage Express. They will look at your financial situation and help you through some of the options for finance.

Information for first home buyers

Buying your first home can be stressful. Taking that first step onto the property ladder is probably one of the biggest decisions you’ll ever have to make. But if you do your homework and properly prepare yourself, it needn’t be as frightening as you expect. If you’re tired of renting and you think that buying a home is the right thing for you, take a look at our step-by-step guide for first home buyers.

Decide if buying is right for you

captureFinancial planners warn that home ownership is not for everyone. In some cases, it may make more financial sense to put off your purchase and continue to rent for a year or two. This is particularly relevant if you’re planning to move to a new area in the not too distant future – it can take several years to recoup the costs associated with buying a home. So if you are planning to move, it makes more sense to hold off buying until you settle in your new area.

Know your limit

When deciding on your buying budget, be sure to factor in any costs associated with buying and moving. That could include upfront costs, insurance, tax or moving costs. Know how much you can realistically afford before you even start looking at homes to buy.

Check your credit

Your credit rating is vital when it comes to applying for a mortgage. How well you handle credit has a direct impact on your ability to borrow and the interest rate your lender will charge you. So check that your credit rating is good and sort out any issues before you start shopping around for a home loan. Pay off any credit card or HP debt, and ensure you are meeting your payments on time.

Make a list of must-haves

You probably already have a list of things you simply can’t do without in your new home. Given the rapidly rising cost of property, you may need to take a realistic approach and opt for a much smaller and more economical home to start with, in order to get a foot onto the property ladder. Decide which of your must-haves are deal-breakers and which you’re prepared to compromise on.

Shop around

When researching your options for a mortgage, it pays to shop around both bank and non-bank lenders to find the deal that’s right for you. Talk to Jon about dissing your situation with a Mortgage Express adviser about your options so you know how much you have to spend before you even start looking for your first home. Getting preapproval up front means you have an advantage over other buyers who may still need to go through the mortgage application process. It also means you have time to find a financial package that meets your specific needs and you’re not rushed into accepting the first mortgage you’re offered.

Prepare for the ups and downs

First home buying (and second and third!) is an emotional process. The reality of attending auctions and open homes, finding your dream home and making an offer, only for it to be snapped up by someone else, can be emotionally exhausting. Even after a contract is signed, there could be issues that can delay your settlement date or even cause the deal to fall through. Be prepared and research thoroughly!

If you are unsure of any aspect of the process of buying your first home, contact Jon today for guidance.

Real Estate Salesperson serving the Upper Hutt community