New Listing – 45 Burns Grove

Jon has just listed a stunning 3-bedroom property in beautiful Burns Grove. Being sold by deadline sale – 9th May 2017 (not to be sold prior).

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Coming to the market for the first time in nearly half a century, this gorgeously presented property will be sure  to appeal to anyone looking to buy in one of Upper Hutt’s most popular suburbs – Poet’s Block.

Take a look at the property on TradeMe, get in contact today for a private viewing, or come along and view at the open home on Sunday from 3-3.30pm.

Contact Jon to sell your house today, hassle-free!

Special Offer for April, please share with your friends and family!

For April Jon is running an incentive whereby anyone who has a property appraisal performed will go into the draw for an Air New Zealand mystery weekend for two, plus automatically qualify for a FREE Habitat magazine AND a test pot full of delicious M&M’s.

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Don’t forget that Jon offers a hassle-free approach to selling your house, see here for further information. or contact Jon today to organise an appraisal.
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New Listing! Home & Income – 17 Kiln Street, Silverstream. To be Auctioned 3rd May

Jon has just listed 17 Kiln Street, Silverstream. Coming to the market for the first time in decades are two homes sited on approximately 1015m2 of private rear section.
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With a spacious three-bedroom house, and cosy two-bedroom cottage the possibilities here are numerous: suited to an extended
family, or maybe live in one and rent out the other, or even Airbnb…

With rentals in such short supply in Upper Hutt, the likely return will provide excellent capital to help pay off the mortgage in no time!

17-kiln-cottage-loungeThis home is situated in an excellent location – close to public transport, SH2, Silverstream shops and several excellent schools.

Contact Jon today for a private viewing or to get your property sold today – hassle free!

(View property on TradeMe)

 

How to choose your method of sale

Choosing how to sell your property can feel like a big decision. Here’s an overview of the methods available and the reasons they may work best for you.

Auction

We’ve all read the media commentary about rising house prices, and although there are many theories as to why this is, what it fundamentally comes down to are two factors – low supply and high demand. Currently, New Zealand is undoubtedly a high demand, low supply market, with fierce competition for properties – particularly in Auckland and Christchurch.

Auction is the best way of achieving a premium price in a competitive market. Auction involves a short, sharp and intensive marketing campaign of a property without a price. This is to test the market to see what buyers, in a competitive situation, are prepared to pay to become the new owners of that property.

Marketing with a price limits what a keen buyer may pay. Once a listing price has been established for a property, a ceiling has been placed on what a buyer expects to pay for it. Auction, on the other hand, offers a real opportunity to get more for a property than the seller might expect.

 

Tender

Tender works in a similar way to the auction system, except there is no public auction day. Instead, tenders or offers close at a specific time on a specific date.

Tender presents another opportunity for sellers to create a competitive situation without stating a listing price. They set the terms, conditions and the deadline, and prospective buyers have only one opportunity to put forward their most competitive offer.

The seller doesn’t necessarily have to accept the highest price. They can choose to negotiate with any of the tenderers to achieve a satisfactory conclusion.

 

Price By Negotiation (PBN)

This method of sale can be applied in any of these three ways:

  1. No price is advertised. Buyers make offers through the sales consultants.
  2. A minimum price may be advertised. Offers above this minimum price are considered by the seller.
  3. A price range may be advertised. Offers within this price band are considered.

The benefit of PBN is the level of market interest will help the seller gauge a fair sale price. The “no price” aspect will also attract more genuinely interested, cash-in-hand buyers. By contrast, unlike auction and tender there is no sale date or deadline in place so there is no urgency placed on buyers to make a buying decision.

Fixed Price

This means that a property is listed with a definite price. If the property is priced correctly it will attract a lot of interest, and in some cases have multiple offers resulting in a premium sale price. The fixed price also gives the buyer a price guideline and allows for a property search by price on real estate websites.

However, it is easy to over- or under-price the property and buyers may discount the property without inspecting it, judging it solely on the price. This can effectively limit the market for that property.

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DID YOU KNOW?

If, as a seller, you may receive pre-auction offers from interested prospective buyers.

If you wish to accept the pre-auction offer, in most cases your Harcourts sales consultant would recommend you bring forward the auction and contact any other interested parties. The brought forward auction can then be held with the initial acceptable offer as the opening bid. That way if any buyer is prepared to pay more, you won’t miss out on getting the best possible price.

 

Contact Jon today to arrange his no-stress approach to your real estate needs!

Refer a friend and win $500

Jon is running a promotion until the end of March 2017 – refer a friend to sell with Jon and Harcourts, and win $500.

Simply Like Jon on Facebook and share with your friend – if they list exclusively with Jon and Harcourts (and sell their property), you get $500 paid out when the sales contract becomes unconditional…. simple.

Don’t forget that Jon offers a hassle-free approach to real estate sales, taking care of the details to make the process as smooth and stress-free as possible. Due to the popularity of the promotion, it is being extended by another three months until the end of May 2017. View this post for further information.

Contact Jon today with any questions, or to discuss a referral.

New REINZ data – average house prices in Upper Hutt have risen by $90k in the past year

Information released recently by the REINZ show that in the period of January 2016 to January 2017 the median house price in Upper Hutt rose by almost 25% to $456,500. The commentary released by the REINZ outlines the current market situation in the Wellington region:

The median price for the Wellington region rose $66,000 (+17%) compared to January 2016, with prices rising 43% in Western Wellington, 25% in Upper Hutt and 20% in Southern Wellington. Compared to December the median price fell $70,175 (-13%), with prices rising 7% in Eastern Wellington, 6% in Upper Hutt and 4% in Northern Wellington. On a seasonally adjusted basis the median price fell 5%. Graph Commentary The trend in the median price is now rising , although the volume trend is now easing. The days to sell trend continues to rise with the overall trend for the Wellington region still improving.

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Compared to January 2016 sales volumes fell 10% across the region, with sales rising 5% in Pukerua Bay/Tawa and steady in Eastern Wellington, but falling across the rest of the region. Compared to December sales volumes fell 48%, with sales falling 38% in Upper Hutt, 46% in Central Wellington and 47% in Hutt Valley. On a seasonally adjusted basis sales fell 15% compared to December, although this comes after a very strong seasonally adjusted lift in sales in December. The number of days to sell eased 12 days in January, from 26 days in December to 38 days in January. The number of days to sell improved by three days compared to January 2016. Over the past 10 years the average number of days to sell during January for the region has been 49 days.

Wellington continues to have the lowest level of inventory across New Zealand with just seven weeks of supply, compared to nine weeks in January 2016. REINZ Regional Director Mark Coffey noted that, “The Wellington region took a longer than normal pause over the holiday period with a somewhat slow start to the year. This may be a result of a combination of factors such as the continuing constraints of the LVR (loan to value ratios) restrictions, Wellington’s worst summer in 30 years. Insurance constrains from the earthquake and very tight lending criteria from most major trading banks. The lending squeeze is hitting investors and higher value sales harder leaving first home buyers an opportunity to get into the market with less competition from investors. As a result we are seeing more turnover in the more affordable end of the market. The supply of properties is still low by historic levels and prices are holding up as a result.

If you want to find out what your house may be worth in the current market contact Jon today for a free appraisal.

Open homes this weekend

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43 Sheridan Crescent, Upper Hutt

I am holding open homes this Sunday 5th February at:

2 – 2.30pm – 43 Sheridan Crescent. This property will be auctioned on Wednesday, please contact me asap if you still require further information or have any questions.

3 – 3.30pm – 39 King Charles Drive

4 – 4.30pm – 2/4a Ebdentown Street

Please share this post with anyone you know who is looking to buy a new house in Upper Hutt, and keep an eye on my new listings on realestateupperhutt.co.nz, Trademe or Harcourts.co.nz

Real Estate Salesperson serving the Upper Hutt community