Archive for August, 2008
This is a stunning property. With so much to offer. For people moving to New Zealand this is what we are all about. Natural wood look in these Lockwoods are beautiful. With so much space.
The current owners bought this property 3 Years ago and have loved the privacy and peace that it offers. The deck opens out overlooking the back yard that is terraced down. As you sit out on the deck you can be looking on a fine day straight out to the stunning Mt Taranaki.
New Zealand Lockwoods are in my opinion one of the best built homes you can own. They are warm and have a real Earthy feel. So if your living down under you can be part of middle earth. As you can see with this property it is well looked after and loved.
Centrally located in secluded surroundings you will find this comfortable open plan living Lockwood home featuring;
- Balcony with mountain views
- Private courtyard and BBQ area
- 4 bedrooms plus ensuite
- Office nook
- Native bush / birdlife
- Terraced lawns on a 1032m2 section
If you want to know more about this property please eigther contact me (my contact details are on this blog) or contact the Listing Agent Directly.
The price is $348,000
Kathy Roach “Bailies”
Mobile: 027 610 6300
Email: kathy.roach@bayleystaranaki.co.nz
To view from the Baylies Website Please Visit http://www.bayleystaranaki.co.nz/520192
A truely awesome property That you will be proud to own.
August 29 2008 | Buyers and Uncategorized | No Comments »
Well I am disgusted quite frankly dumbfounded at what I just witnessed being said to a Real Estate Agent.
“Your just a land shark and pissing in the pants of the home owners taking 4% of the sale for doing sitting on your a** and doing crap all. Conducting a few open homes and calling a few people hoping that someone buys the property. And when it doesnt sell you crunch the vendor to reduce their price but you wont reduce your fee.”
That quote is a rather watered down version of the conversation. There was a few more descriptive words that followed on. Trust me. Anyway it gets me thinking. Do they have a point or are they over the top. Honestly I can see both sides to this conversation and argument.
At the end of the day a Vendor has the power in the pen. I feel as an agen we do as much as we can to get an offer on paper to present to the Vendor. At this stage its really up to the vendor what they want to take. They know what the fees are and can take an informed descision on what to sell for. So the amount of commission that is taken out is a known factor.
But on the other side of the coin there is the fact that in some cases the comission could be 20 odd thousand dollars. Now that is alot of cash and in todays economic climate where money is rather tight that can be the difference between living and not living.This is rather dangerous as an agent. If you get a seller who is only playing around and not serious you may never sell it. Or you may do all the work till when it goes to a general and the seller sells it themselves.
But back to the topic. I did find it rather interesting what this person said. Would be interesting to hear your comments on this topic. negative, Positive or indifferent it all goes.
Deon Swiggs
Property Profits
August 27 2008 | Uncategorized | 12 Comments »
What is Bebo, Myspace, Facebook, Twitter, Gotaccess, Youtube,
What is Trademe, allrealestate, voices, ebay, blogs, websites,
What is a hit Report, tracking cookie, opt-ins, forums, alerts, RSS,
What is email, texts, podcasts, webinars,
What is the internet!! What is communication!!
This is just a tiny small fraction of the things the internet in the modern world has to offer. But why do I need to know any of this. Well simple.. Do you want to make and continue to make money. Then you need to be where the public is don’t you. Well it’s just a fact. You need to be on the internet to grow in this modern day world.
Whether you’re a real estate professional, home business user, small or large corporation, entrepreneur, social butterfly if you’re on the internet you will be noticed and if you perceive yourself in a good light then you will grow a following and in turn grow your business. The truth is no matter how you do things on the internet if you do it in volume, are visible to people someone will read your stuff, look at your material and interact with you.
There are 6,676,120,288 internet users around the world who contribute to over US$ 1,000,000,000,000 of transactions per year. Wouldn’t you like to be part of this somehow. Anyway this incredible amount is only growing daily. But how can I benefit from the internet.
Well if you’re doing something you will be noticed. If your noticed and strike a chord with someone they will remember and go back to read more. The average person has only 21 frequent sites they visit at any one period. Those 21 sites may chop and change over time but you want to be one of those 21.
How do you do that. Well if you’re a reader or information gatherer which most people are then you need to be putting up relevant information and/or material for the user to want to come back. With blogs, putting up useful stuff to actually help your reader will guarantee that they come back to you. If you just brag about yourself and don’t give any information that can benefit the reader then there is no point. If you got a website, have incentives with regular contact to keep the reader lured.
To get the return traffic you need to think to yourself WHY. Why will someone read what I am giving out and what benefit will it have to them. We are all influenced by the Y Generation kids. Where “WHY” is the ultimate question. Why Should I read this, Why Do I have to, Why do I need to sell, Why do I need to buy now. Subconsciously nothing now taken at face value. It is all questioned.
When you’re selling something it is more than ever harder. Your treated as a person with a motive. Not trusted and always suspected. We all have had those annoying emails telling us we have won 2 million pounds and all we have to do is supply our details to claim a prize. By the way to make a fake profile on the internet a user only needs your full name address phone number and date of birth and place of birth and a few other minor details. Then your name could be tarnished or you could be frauded and in deep trouble.
Back to the point, there is always the question in the buyers head “Why is he/she telling me this, saying that, doing this?”.This is where trust needs to be built up. And the internet is a great medium to do this and it’s about communication and there are just so many mediums to do that – a small portion is mentioned at the start.
To gain trust you must be seen to lay it all out. Be open and transparent and not mess around. Do what you say you will do. No one will spend their money without trusting who they are buying from. But how does it translate to real estate. Well buyers can read your material and feel trusted. Sellers can read your website, blogs etc in the comfort of their own home and without you knowing which makes them comfortable and not under pressure. The seller then in turn may respond to your information and then call you. Then you have made contact.
The danger always though remember is that they can find all sorts of stuff out about you from the internet before they even meet you. Public profiles such as facebook or myspace can be dangerous to a reputation if you aren’t careful. You need to not worry about your material but also the material of your friends, is it appropriate. You may just find people learn things that you don’t want them to. Even indirectly.
But if done right you can be in a great place to meet the new online consumers. Opportunities will find you. Just deliver good content that people want and appreciate. Utilise the online world. It’s all a tool. One thing doesn’t suit everyone so the more the better. ie not everyone uses facebook so if you’re on myspace as well then you have the upper hand.
There is just so much to take in. Take it bit by bit. There is more and more opportunity out there and people know about it and early adopters are already reaping the rewards and returns. Don’t put it off saying that I never had to use it before. Or say I dont need it. You need it. Do it and watch how you grow.
Deon Swiggs
Property Profits
August 25 2008 | Uncategorized | 2 Comments »
Real Estate Agents, who are we and what do we do. Do we sell property? But we don’t own any stock.. Do we sell expectations? But what is an expectation.
So what is it we actually do. Well in a nutshell from isn’t it putting a willing buyer in front of a willing seller, creating an agreement and facilitating the process through. In a nutshell that’s it, but obviously there is a lot more in that takes place in the middle that can either make it easier and quicker or make the experience a nightmare.
So what makes a good agent that will make the process easier and an enjoyable experience. Obviously there is such a vast amount of different personalities out there and no one personality is ever going to get on and work well everybody. But there must be a general type of person that will be a good Real Estate Agent that as a buyer and a seller would trust.
I work in this industry and am proud to be a Real Estate Agent and am happy to help people with their property needs. Bringing the tools to a client is just awesome so they can sell their house. And likewise with buyers. Bringing knowledge to them to help them make an informed decision about their purchase is fantastic.
But when I tell people in a social setting my profession most people go “oh your one of those thieving bastards”. This actually gets under my skin and I find myself defending my position in life. So why do we have such a bad name? Why are Real Estate Agents considered one of the lowest trusted people in the Professional world. Don’t try and say that it’s not true because it’s just a fact! Could it be because of the fairly substantial amount of money involved in each transaction where emotions naturaly run high with money or is it just that there are simply some agents out there that are lazy, obnoxious, rude and just don’t seem to care less about the person and are just in the job to make a quick buck! Which is easier said than done. So is it the actions of a few that give the whole a bad name. Or is it deeper than that?
Well what makes a good agent then? For me a few things come to mind. Accountability in your words I think is important. Do what you say you will do. Walk your talk. Also I believe honesty is crucial. Don’t tell lies just to be able to tell the client what you think they want to hear. Be transparent. Important as well is keeping up with the times. Know the technology that gets to the people. Know the market. Gosh there is just so much to say.
But what do you think. Post what you think a good agent would consist of so maybe if a bad agent reads this they may learn what not to do and let’s try and turn this industries name around. Be the good guys for once that people can trust instead of being snarled upon when we say we are in real estate. Maybe share an experience that you have had and tell us how it could have been made better. Be honest.
Deon Swiggs
Property Profits
August 22 2008 | Buyers and Sellers | 2 Comments »
This is a question I have been asked via email a few times over the past few weeks from buyers out of New Zealand looking to invest here. And even dealing with some people in my line of duty at the floor front I have come accross a number of people unsure of the process of buying property in New Zealand. So here I am trying to explain how it is done.
By New Zealand Law all Contracts for the sale of land and property must be Negotiated in Writing. Most Licensed Real Estate Companies will use the standard form which is prepared by the Real Estate Institute of New Zealand and the Auckland Law Society. This contract covers the legal issues necessary to protect both parties and enable a satisfactory Real Estate Transaction.
Contracts can be written up subject to various conditions that the purchaser or seller need to have to satisfy their own needs. An example of the most common ones are.
- Subject to Finance. This allows the buyer time to confirm or arrange their finance from the banks or any other lending company. Generally this codition isnt more than a week, but in any case has to have an end date for satifaction, upon this date been reached you can apply to have an extension through your Solicitor.
- Subject to the sale of another property. This condition also needs to have a time limit on it. Generally this is negotiated between the parties. This will give the person buying the property to have enough time to sell their own house in order to buy. This condition is usually followed by an escape clause. This allows the seller to continue marketing their property and being able to accept another offer that is better to the seller( this can be a lower price, it doesn’t matter). This is then called a cashing out contract. The original contract then has the agreed on working days to go unconditional. If they do not then their contract is void and the cashing out contract is executed and closed.
- Subject to a report of the building or land. This gives the purchaser to do any homework on the property once a price has been agreed to. This could include a builder, a plumber, an electritition or any other thing that the purchaser wants to do their homework on. But things you want to be investigated must be stated on the contract before it is accepted.
Once all conditions are met the contract becomes Unconditional and binding on both parties. This means the sale must settle as detailed in the contract. The payment of any deposit mentioned is payable upon this time. If you buy through a real estate agencey the deposit is usually held in a trust account for 10 working days.
You can bypass the conditions part and put what we call a cash unconditional contract in to the seller. This means that you are happy with the house and if the seller accepts your price you submit you will then have bought the property. being unconditional you will then pay the deposit and settle on the date in the contract. Unlike many parts of the world you do not need to get surveys etc on every property. In New Zealand a property cant be sold with out a title and its generally the duty of the seller to get everything in order.
The day of settlement is the day when the balance of the payment is made, this being the total purchase price minus the deposit which was payed at the unconditional date. The money is usually transfered via the solicitor. This is the day you pick up your keys to the property and take over the legal rights to the property. You can move in this day 
A solicior is a lawyer. When you deal with them in terms of a property sale they look after the legal aspects of the sale like transfer of money, transfer of title and things like that. Basicly when the contracts are agreed on, sent to the solicitor, and becomes unconditional the job of the real estate agent is all but complete. A good agen should keep in touch with both parties, bring them together, and make sure that a smooth transition ofsetlement takes place.
The fees associated with buying a property in New Zealand are very minimal. The only fees that you need to pay are the solicitos fees for buying, which can be anywhere betwen $500 – $1000. But could be more or less depending on the area your buying. Also if you want to have any inspections done or a LIM report done you will also need to pay for those. Costs on these are minimal though. So really for buying residential property in New Zealand what you put on the contract is what you pay. So in fact there is no charge to you for getting your friendly real estate agent to help you and negotiate on your behalf.
There is other things associated with buying property in New Zealand but the general layout is this and it answers all the questions I have had so far. Other ways of buying such as tender and auction are avaliable but the princible is the same. For more questions or to find out more call or email an agent. They will be able to assist you with your questions. Remember that to have the agent sell you a hiuse as a buyer its not costing you anything, and you get their knowledge and support the whole way through.
Deon Swiggs
Property Profits
August 19 2008 | Buyers | 1 Comment »
Welcome,
To all the Westown people who are responding from the mail drop.
I thank you for arriving to this blog. There is so much valuable information here for you to digest and take in. This blog platform is a key for you if your interested in the Real Estate market in any degree this is the place to be. At this blog you are at the doorstep to a lot of different Agents and Real Estate Experts from around New Zealand and the world who read this blog. Participate in this blog, comment, ask questions, add content if you like. This is here for you to learn from.
As a thankyou to all the people who have responded to the newsletter drop I am offering you a small reward for FREE and the chance to win a Dinner for two at Lone Star New Plymouth. All you need to do is click the link below and it will take you to a page where you can redeem your Prize and enter the draw.
I hope you enjoy the content in this blog. Remember to participate within the area, what you put in you will get out of it.
Deon Swiggs
deon@taranakiharcourts.co.nz
0274620350
August 16 2008 | Uncategorized | No Comments »
The number of homes listed for sale in most cities high. The result is prospective buyers know they can negotiate hard over price and terms. (Simple laws of supply and demand apply here)
This poses some tough times as a seller. But if you are prepared you will definitely be able to get good results as there are still many buyers out there and they are prepared to buy. Here are a number of things that you can do to make your home more attractive in this market to the buyers.
STEP #1: If you seriously need to sell your property, and are not just “testing” to see what price you might get, the first step is to get your home into top notch, near-model-home condition. Most buyers don’t want to buy a fixer-upper in this market; they prefer to turn the key in the door and move in.
Cleaning, repairing and painting are the most profitable actions to take. Install new light fixtures and new carpets or flooring if needed. But don’t waste money on major renovation, which you won’t get to enjoy and buyer prospects might not like.
If you have lots of unneeded “junk” you don’t want to move, September and October are ideal times to hold weekend garage sales. Better yet, call it an “estate sale.”
STEP #2: Today’s home-sale market is not a good time to be a do-it-yourself “for sale by owner” home seller. The reason is there is so much competition from serious home sellers whose listings are professionally marketed through the local agencies. Agencies are able to access more websites to put your house on where many of today’s home buyers begin their searches.
Be sure to choose a good agent that you can trust and you can openly communicate with that can also criticise and applauded your home. A good agent will be able to tell you how to stage your house to get the buyers interested. Also make sure that that agent you choose has a strong company backing. Buyers in this market tend to buy and work with stronger agencies so that they can feel more safe and comfortable in the buying process.
STEP #3: After selecting an agent make sure you consult with your agent so that he or she knows exactly what a buyer is getting with your home. In this market you are looking for the cash buyers that feel safe to just buy your property. So if need be get a building inspection and a LIM report and having it accessible to the buyers who ask for it.
After getting the LIM and Builders report make sure that if there is anything wrong with the property make sure you get it rectified. It may cost you a little bit of money to get these reports and to fix any problems but in the long term it makes you look serious about selling and makes you look legitimate and could make a buyer feel more comfortable about buying your home at the price you ask.
STEP #4 After getting your home ready to sell, hiring the best listing agent and having all professional inspections completed so you can disclose all information it’s time to set a realistic asking price.
With the help of your listing agent, study those CMAs (Comparative Market Analysis) prepared by all the agents you interviewed. Consider whether the local market for homes in your price range is rising or falling. In most markets, prices have levelled off from what was attainable a year or two ago. If you really want your home to get sold quickly, don’t get greedy.
Asking a few thousand dollars less than your closest competitor homes can mean your home sells while the others don’t. Holding your home an extra month or two often costs far more than setting a realistic asking price.
Here’s another asking price secret: set your asking price $1,000 below threshold amounts. For example, if your home is worth around $300,000, set the asking price at $299,000 rather than $300,000 or higher. The reason is buyers who tell their agents they will pay up to $300,000 will then see your home on internet searches. But if you set the asking price at $300,000 or above, those buyers might not learn about your home.
STEP #5: Many home sellers are insulted if they receive a written purchase offer substantially below their asking price. Some sellers and their listing agents won’t even make counteroffers.
That is a major negotiation mistake. Always make a counteroffer to keep communications open with that prospective buyer. Negotiations often take several weeks, back and forth, before determining either a sale will result or the parties are too far apart in price or terms. But unless the seller counteroffers every purchase offer, even a “low ball” offer, you will never know if a sale can result.
After both buyer and seller sign a firm purchase contract, the sale isn’t over. This can be the most difficult time period. You and your listing agent must keep on top of deadlines, especially to be certain the buyer follows through on obtaining the finance and other essentials.
Sellers should be aware the buyer might be encountering the dread “buyer’s remorse” disease. For this reason, it is essential for sellers and their listing agents to keep in touch with buyers and their buyer’s agent to be certain the sale closes on schedule successfully.
All the Best
Deon Swiggs
Property Profits
August 16 2008 | Sellers | No Comments »
Our Blueprint is Online.
The bi-weekly publication that gets delivered to many of you in New Plymouth is now online. The advantage of this means that by reading it online you will get to see it before it goes to print. The other advantage is that the Blueprint can now reach the people that dont normally get access tot he print version.
The print version will still be delivered in the Saturday paper every two weeks and put in stands as normal.
To view click the picture below!
All The Best
Deon Swiggs
Property Profits
August 14 2008 | Buyers | No Comments »
This is the 21st Century. Gone are the labourage days and the days where it takes a week to get any type of response to a request. This was what the Baby Boomers and some of the Generation X people went through. This is the communication age. This is the era where we have social networking sites, instant messaging, text messaging, video calling, email, online shops, online forums where you can get any question you ever have answered. This is the time when you want to know something you go to the internet and find it out.
Have you ever asked someone something and the answer you received was “Just GOOGLE it”. Well that’s the sign of the times. www.google.com and the other many search engines and all the things I mentioned above have revolutionised how we interact with other people and get the information we want to know.
Who is the powerhouse for this revolution. We are known as Generation Y or the “Connexity Kids”
Generation Y encompasses those a very large number of people born between 1980 and to 2000 and some experts saying even till today and represents the first generation to grow up online.
To be able to market effectively to generation Y you need to understand their needs and wants. This generation has been bought up online. And as I said before has had the luxuries of being able to get almost anything they want instantly online.And every other generation using the internet has this luxury as well, but the difference being generation Y don’t know any different and expect and demand it.
But not all our life is lived on the internet. But below I have 4 key points that you will need to know when you think about Generation Y.
- The defining value of this generation is “connexity”: the importance of staying connected in order to grow. Digital media ha ve given youth unprecedented means to connect with each other and the world. As a result, for brands to succeed tomorrow, they must forge connections with consumers that go beyond simple product func tion. There needs to be something for them in it.
- Knowledge is power. It is also cool. Digital media have made knowledge cool through a fusion of fun and learning. This means for us in real estate that as an agent or a home owner you need to know the information the buyer may ask or know exactly where to direct them to be able to get it.
- Generation Y is a confident, self-reliant, optimistic and positive generation. The Internet, personal computers and C D-ROMs represent tools that have empowered this generation. As a result, these consumers are marketing savvy and much less brand loyal. They will go for what gives them the best in their situation.
- Digital media has produced a new language. This new generation of online users is verbally and visually more sophisticated. In fact, verbal and visual literacy have converged, creating a whole new language which tomorrow’s marketers must learn. You need to describe your home on the advertising in a way that makes your home seem modern fresh and something that will appeal to a Gen Y
Generation Y generally want an answer now and want it with the least amount of effort possible. They also want results quickly. Say if a gen Y sets up a business they expect results to happen fast and are very critical if it doesn’t happen. The catch is gen Y don’t want to do as much work as previous generations but prefer to work smarter. Gen Y is under a lot of pressure to achieve and excel which sort of explains why they expect results fast.
Now to put this into perspective:
As an agent:
We need to know the lingo. Marketing isn’t just a case of putting an ad out there, leaving it on the websites and then hoping to get hits and hoping even more the people that are hitting it want to ask a question. A generation Y person is used to social media platforms where they interact with the people and the things they are looking at. This is where smarted advertising is needed. Emphasis on the points that benefit the buyer are very important and also photos. But even better are interactive home tours. In the United states there are software companies developing software where a buyer is like an avatar and can walk anywhere they want to in the house as if they were there by themselves and then there is an option where they can ask the agent a question while they are there which is sent to the agent as a text message and the agent can then reply to the question instantly. This real time conversation like approach to marketing is what is needed to engage the new audience and get the best results from them. Some experts say that a reduction in traditional print media advertising and a shift toward media more commonly frequented by Gen X’ers and Gen Y’ers is going to be needed with inclusion in weekly publications, more electronic billboards, regular radio spots and more online advertising on websites that offer a large range of products all over (like a one stop shop concept).
As a home buyer:
Your home needs to have modern aspects to it and be in a decent state of repair. Not just for generation Y but this trend has evolved as generation Y’s influence has started to spread to everyday life. They don’t really want to do any work to the house. The simple things like having a dishwasher, internal access garages, automatic garage doors, automatic heating etc are big things that can woo the generation to buying yours rather the one next door. The theme that runs through this entire blog is convenience. Don’t get me wrong that anyone will buy anything at the right price. But convenience is a big part of today’s lifestyle. And if you can as a seller prepare your home before the market to be more convenient and easy to live in this will have a better reward later down the track.
Deon Swiggs
Property Profits
August 12 2008 | Sellers and The Market | 14 Comments »
Well it seems that the buyers are out in force again The last few weeks have seen a rather increased volume of buyers enter the market. Most of the buyers I talk to have said to me they have been looking for ages but only just come back into the market going to open homes in the last couple of weeks. And it is these people who are actually snapping up the buys out there. These buyers have been watching the market and have seen the progressive levelling out over the winter period. But it looks like that these buyers have started to get out there and pounce on what they see as a good buy now.
This trend is fairly typical but the downside that we are experiencing at the moment is there is very few new homes coming to the market. It has almost got to the stage in New Plymouth where we have got very few “good houses” left out there. The sudden influx of buyers to the market has caught us all by surprise and created a void in stock levels.
I specialise in the Westown area of New Plymouth and do quite in depth analysis of the listings and sales in the area. Last month in July there were 24 sales in the area. At the start of the month there were 31 houses on the market, of these there was as far as I know 2 properties withdrawn and over July only 5 new properties went on the market in Westown. So in a perfect world at the end of July there were only 10 houses left on the market in this location. Now that is a huge drop in supply in the area for buyers to look at. And a huge opportunity lost from the 10 remaining properties that probably didn’t have the price right.
At the time of writing this there have been a further 6 sales in Westown with 4 properties added to the market. Three of the properties that come on this month only spent a week on the market. So at the time of writing there are only 8 properties on the market in Westown that are “For Sale. Not a lot really.
I don’t know about the rest of New Plymouth exactly but just glimpsing at the open home grid and the amount of advertising that is going on and the very very few listings that all the real estate companies I have spoken to have got over the last 4 weeks the I think the supply of homes has more than halved. I will confirm this for July Market stats when I finish doing them.
This opens a great opportunity for new homes coming to the market. If you price your property right and have it presented well to the market and have the correct exposure to the market I think you will definitely sell your home in a good time frame. If you look at the stats you can see the sales are there and the buyers are buying. If you are looking at selling, I need more listings. Most of mine are now sold. But more seriously if you are thinking of selling, it isn’t a bad time at all to come to the market in New Plymouth and maybe the rest of the country.
August 11 2008 | Buyers and Sellers and The Market | 8 Comments »
Well weren’t they an amazing opening to the 29th Olympic games. The work that has gone into those games has just what can I say, just intense.
The critics around the world are saying “An eight became a perfect 10 in Beijing tonight.”
The opening ceremony of the 29th Olympics Games began at precisely 8pm on the eighth day of the eighth month, 2008.
Right from the start at the countdown I knew that this was going to be an amazing show. The absolutely amazing light show drum box thing with all those which counted down the last minute with synchronised rhythms and lights… then, came a flying Buddhists who sprinkled dust to make the Olympic rings… then… and I’ve no idea how this was done (and I don’t care either… the dust was picked up on its own and flown through the air. I just watched with my mouth open at that.
Following that was a gigantic glow-in-the-dark opening scroll that filled the entire arena floor! Then these guys ran out and started dancing, somehow painting a picture on the floor with their paint-brush hands. It was sensational stuff! Better yet was the gigantic set of dancing tiles that looked like some crazy board. They lifted and fell and pulsated in perfect precision. And the thing that amazed me the most is that it was all done by people tucked away underneath , lifting and heaving this great thing… all as tribute to movable type, one of the greatest inventions of ancient China… along with paper, gunpowder and fireworks.
There was apparently over 15,000 people who were involved in the show which encapsulated the old and the new, the traditional and the hip. The precision which the performers work in was absolutely staggering. It was a real tribute to china for putting on such a great show and making their country look so dam good… I want to go visit the place now. The culture looks very interesting.
Lets hope that none of the terrorist threats turn to anything over the time of this worldwide event and that it goes off without any glitches as it looks as though China have put such a huge amount of effort into these games.
I wish all the team from New Zealand all the Best over their in the hot humid weather. They will do our little country proud I’m sure.
I am not sure how much real estate will be going on over the next few weeks, whether people will be switched off and in TV mode or if they will still be out and about. I for one will be glued to the box I know that. I hope you all enjoy watching the games, apparently at least 4 billion people will be watching these games from their homes over the next 18 games. Just amazing how the world can come together over sport.
August 09 2008 | Uncategorized | 2 Comments »
This guide should help both sellers and buyers to make the selling of your house to make the whole thing a lot more transparent. A good builder friend from New Zealand Home Inspections and me have put this together so that you may use it to your advantage. The information is probably the same as what you already know but it is good to have a check list. To use this properly I recommend to PRINT THIS OUT and take it with you when you go to inspect the home you are interested in.
For sellers this is what buyers will look out for:
For buyers this is what you need to look out for.
There are many things you need to look out for but these are the main and obvious ones you can look at without needing a builder.
Doors
- Does each door panel open and shut without obstruction of the door frame?
- Is the door panel a true rectangle shape or has it been planed to fit the frame?
Tip: Check for uneven gaps at the top and bottom of the door panel, if it is uneven maybe the piles have sunk.
Windows
- Attempt to open and close each window.
- Look for condensation and damp damage.
- Are there any cracked panels of glass?
Tip: Often timber frames are patched and painted with fiberglass filler, look for irregularities in the paint surface. Fiberglass filler and putties are only a short term repair they usually hide much worse damage.
Wall & Ceiling Surfaces
- From the door way openings look at the line of the wall is there any buckling.
- Solid brick walls may have damp issues, are there any mould stains or irregular areas of fresh paint.
- Check the level of the ceilings is even and consistent or is there a lot of patch repair and damp stains.
- If it is a solid brick wall check for damp and mould markings along the floor level.
Tip: Shine a torch from an angel at the wall and ceiling surfaces, this can highlight patch repairs and thin paint cover.
Tip: Sagging in the ceiling can indicate a past roof leak and should signal close attention to the condition of the roof and its performance.
Kitchen
- Look for damp stains at the junction of the splash back and kitchen sink.
- Check under the kitchen sink common leaks occur in the waste pipes.
- Take a hold of the plumbing from under the sink/bench top and give a firm but gentle shake to ensure the fittings are secure.
Tip: Many cook top exhaust systems are installed without an external vent. Open the cupboards above the exhaust system and look for signs of excess cooking fat. Is the cupboard shallow or has there been no feasible space for a flue to be provided. Check the roof line above the kitchen to see if an external flue exists above the location of the kitchen.
Bathroom(s)
- Turn taps on and off.
- How long for hot water to start running?
- Check under sink for leaks.
- Check for any grout or sealant missing from the edge of shower bases, bath tubs and tiles.
- Check for installation of an exhaust fan.
- Check that shower screens open and close without damage.
Tip: Often tap handle leaks occur from behind the tiled surface. If there is good sub floor access and some one is with you ask them to turn the taps on and off as you look from under the house for any drips.
Laundry
- Usually the simplest of service areas to inspect check that the trough is secured in place, check for rust and ensure that there is a seal between the trough and the wall.
- The wall behind the trough should be tiled.
- For apartments pay particular attention to the location of an overflow drain pipe in the floor surface.
Tip: Make sure you open the door of the trough cupboard; some troughs are painted up for sale but the internal casing may be significantly affected by rust.
Toilet(s)
- Flush Toilet while viewing the area behind the seat look for leaks at the cistern and waste pipes. Aged rubber seals should be replaced.
- Check for excessive use of silicon sealant this is a sign of leakage and poor quality repair.
- Listen for water that is still running after the cistern has been filled � It should come to a stop � not continue forever.
Tip: Gently nudge your knee against the toilet pan, if it moves the mounting screws are loose and you will be prone to leakage from waste and cistern pipe seals. Secure and service seals.
Tip: The flush valve within a cistern requires servicing to ensure no water wastage occurs.
Roof Frame
- Seek to determine the type of timber used. If possible access the roof space.
- Hardwood timber indicates that you may endure the sound of roof creaks and also cracks in ceiling plaster during the change of seasons.
- A Pine Timber is used in prefabricated trusses and is usually much more stable.
- View the roof from the street, does it appear uniform or are there wave like patterns in the surface.
Tip: Pay close attention to areas around roof skylights and air conditioning services, poor quality trade services have been known to saw through critical roof timbers during installation.
Roof Cover & Drainage
- Check that Iron roofs are free of rust, pay close attention to the roof colour as it is not uncommon to find that owners have painted over rust damage.
- Look for faded colour on concrete tiles to indicate the need for new sealant.
- Look for cracked mortar pointing along the ridge, hip and valley tiles.
- Check of rust marks along valley iron, gutters and down pipes.
- Is there any rust or water marks on the timber and eave lining beneath the roof line, this indicates leakage?
- Check that down pipes are connected to a storm water pipe at ground level and not just left to discharge rain water at the base of the house.
Tip: Tiled roofs deteriorate with age also and concrete tiles in particular require new sealant after about 25 years, they otherwise can become porous and deteriorate at a rapid rate. The sealant then needs to be applied again every 7- 10 years to ensure the material quality of the tile is preserved.
Tip: Terra cotta roof tiles that are older than 50 years of age have a very unpredictable performance quality and professional servicing becomes very costly, the tiles become very brittle and can not be walked on.
External Wall Surface
- Check the lines in the timber weather boards; they may have sagging or bowed lines if the structure has moved.
- Check for damp rot adjacent to window openings, plumbing and at ground level.
- Cracks in brick work that are of a significant concern would normally be obvious as large cracks. Pay particular attention around door and window openings, this is where the first signs of movement usually occurs.
- Scrape the mortar joins within a brick wall with a screwdriver, if it is removed freely and has a dusty quality. The joints may need to be raked and pointed with new mortar.
Tip: Damp rot usually starts at the join in timber weatherboard, timber at the corners of a house are at highest risk of having damp rot damage.
Tip: Pay close attention to walls adjacent to large trees for concern of the root structure causing damage.
Sub Floor Area
- Check the material quality of the stumps; probe the base of the stumps with a large screwdriver.
- Check the soil surface under the house for any water courses.
- If it is on a concrete slab check that garden bed levels are kept below the line of the internal floor level.
There should be a fall in the surface of the ground adjacent to the building perimeter that directs surface water away from the house.
The next two things you will most likely want a professionals opinion on.
Plumbing Service
- Check the outgoing pipe at the water meter to determine the material used for the main supply line.
- Check waste pipes for cracks and broken seals.
Tip: Galvanised pipes are a cause of poor quality water and poor pressure; they should be updated for Copper or PVC. If the pipes are dirty scratch through the surface, a silver colour indicates galvanized pipe and copper colour, copper pipe.
Tip: It is only a licensed plumber whom can provide a truly professional accurate indication of the plumbing service. They will use specialized testing equipment and pressure tests and pin point exact location of leaks or failure in the waste plumbing. A typical pre-purchase building inspection will only provide a general overview.
Electrical Service
- Open the fuse box and observe whether it contains a fuse wire system or a modern circuit breaker system.
- Check for the physical presence of an Earth Leakage Safety Switch.
- If there is an opportunity to view the roof space or under house area look for the use of wiring cable that is of a white colour, this is usually the modern standard.
- Black coloured cable and the use of timber cable trays cause certain concern for the need of a wiring update.
Tip: Only a licensed electrician can provide an accurate test and assessment of a home wiring service and safety. A building inspector’s comments will only relate to a visual observation as to whether there have been wiring and or fuse box updates.
Tip: Make installation and testing of a Safety Switch a number one priority upon purchasing a new home.
Deon Swiggs
Property Profits
August 08 2008 | Buyers and Sellers | 2 Comments »
This is a small exert from an interview I did with a guy named Bill James. Bill is a great financial adviser and I have been working closely with him in creating a book and a workbook that should be ready for print in a few months. I thought this was important for buyers and sellers to understand.
A lot of people who have gone right out and bought a home without actually taking the time to make sure their backyard was in order. In New Zealand we have a massive amount of debt. There are a lot of people who look rich who are not rich and it’s a house of cards. And there’s a terrible old expression I always remember which is “fur coat on top, no knickers underneath” which means it looks great but it’s got no substance.
The first thing you’ve got to do is sit down and actually have a look at yourself and have the patience, which is not a great commodity in this day and age, to put your backyard in order so that you kind of clear the decks of debt and you start to put your own money aside.
Now that starts with the absolute basics. You need to get out of this habit of borrowing. So step one is to have a look at where you are now and say, ‘Well just how big is my problem?’ and realize that it is a quantifiable dollar amount.
A lot of people make the mistake of thinking they can fight it without putting it into a dollar figure. And it is very, very hard to beat a smoke dragon. But as soon as you make it solid by saying ‘Oh, okay, so I’m $20,000 in debt,’ even though that’s a lot, its solid amount and you can now stick a sword in it. It’s no longer a smoke dragon. It’s become real and so you can cut it into pieces and chew it up in $10 lumps, whereas when you fight smoke you slash away at the air and you do absolutely no good because it always just moves around you and you never seem to get your hands on it. So you have to first look at where you are now.
The next thing you have got to do is you’ve got to stop getting into any more debt. It sounds easy when you say it like that but the analogy I often use is to find someone in my audience that is a smoker and suggest that they simply don’t light another cigarette and therefore I have solved their problem and they are no longer a smoker. Of course it’s not that easy but nonetheless it’s something you’ve got to do because one of the keys to being rich is savings, but also stop debt.
I believe that you’ve got to accompany the idea of stopping debt also with having your own money because it’s not just the fact that you have no more debt, it’s the fact you get out of the habit of putting your problems on a credit card or borrowing money to cure the problem.
Don’t underestimate how important it is to have your head in the right place before anything else will happen.
Now the next step of that then is there are only two places you can get money from when you need it. One is borrow it and that will cost you interest; a retail interest contract, that can be well into the thirties of percents. The other place is yourself and so what I’m saying is you need to actually become your own bank. And again it sounds easy enough said quickly but it is hard to do.
Now when I get people to sit down and put on one side of the page everything they’ve got to spend: the rents, the power, the food, the petrol, everything. And then on the other side of the page they put what they earn. The reality is there’s a gap in between that is often many hundreds of dollars a fortnight or $500, $600, $700, $800 a month. And the question then begs, so what happens to that? And the answer is almost certainly ‘Gee I’ve got no real idea.’ and so most families actually have a huge chunk of leakage.
If you’re not in that situation and you literally are living on every cent, then you need to get off your butt and you need to go down and get some proper budgeting advice. There’s a pride aspect that comes into this which is ‘But if I need budgeting isn’t that an admission that I’m no good at something?’ That is a crock. If you need it do it!!!
The moral of the story is that you need to sort yourself out first. You must make sure that your back end finances are in check and that your emotionally up to buying a home. There is nothing worse than getting your home taken off you by the bank because you haven’t budgeted for an unforeseen expense.
Deon Swiggs
Property Profits
August 08 2008 | Buyers | No Comments »
I am really enjoying this whole blogging thing. It gives me something to think about and also gives me an excuse to research and write which I really love doing. And I hope you as readers are enjoying some of the things I am writing. The things I am writing definitely provoke my mind into thought when reading them and writing them and I hope they also give you a few things to write about.
But I’m getting to the stage at the moment where I would love a bit more user feedback. In any form whether via email or posing on the blog itself to tell me where I should go from here. How I can improve what I am writing and how I can deliver it in a better context for you the reader to read it.
I am always looking to improve myself and improve what I do. Blogging is a great way to communicate to you the readers BUT in order for me to make it relevant and as imformatative as possible I need your input.
Ideas flow in and out of my brain all day and every day. That’s why I write. But I worry that some of it is not relevant and that some of it doesn’t target you.
If I get your feedback I would be able to deliver information that you want. I am not going to hold back, there is no point. I want to help. What I think I am trying to say is I want to output more and more, but cant do that without any input from you.
Thanks in advance for any comments or feedback. It will help me help you and others like you.
Kind Regards
Deon
August 05 2008 | Uncategorized | 2 Comments »
Now to follow on in this series so far with talking on the Baby Boomers and then Generation X now I want to talk about generation Y. Born between 1980 and 1999 Generation Y are now entering the workforce and stamping their personality all over it. Generation Y represents about 20 – 30% of the total world population. This is the generation that will dominate in the next 2 decades unlike their parents the Generation X who didn’t get to have any major presence Generation Y will change the way the world communicates.
People of this generation develop a strong need for independence at an early age which has been driven by the fact that many come from single parent families. They are also shaping up as the highest achievers of any generation we’ve seen so far and represent enormous market potential for those in the housing, retail and entertainment development industry who understand their needs and desires. They tend to buy disposable items rather than those that can be repaired.
So how will they influence the real estate industry? To fully appreciate that, we have to look at the common traits of a Generation Y person. The Gen Y’s are consumed by entertainment, technology. They are ambitious, hardworking, accomplished multi-taskers, highly transitional and very open to sexuality and race. This means that a generation Y buyer will not be as fussy as a Generation X and when seeing what they want act on it faster. But they want more and they want it faster.
The housing needs of Generation Y are proving to be far different than those of their parents. Unlike many baby boomers, who tended to marry and have children in their 20’s, Gen Y’s generally want to postpone marriage and parenthood far longer than their parents. Because their social interaction focuses on night life, rather than entertaining at home, they are satisfied with small housing units or houses on small easy care blocks of land.
The type of property this generation like is easy care and has nice glass and metal features, aluminium joinery, bold colours, lofts, lots of light, and open floor plans are very popular. High-speed Internet access is critical. They also like living close to work, recreation, shopping and entertainment. Convenience is the key for this generation.
Since Generation Y’s are the most sophisticated media generation ever, creating their own web sites and making their own CDs and DVDs, real estate agents need to ensure they’re proficient in the use of developing technologies.
Generation Y are tomorrow’s home buyers. Real estate professionals who realise this and do not rely on the same communication channels used to reach their parents will be the winners.
Marketing concepts for this generations is to put the ads out there and let them stumble across them. If they feel pressured, they immediately back away. Internet and email marketing are critical to reaching this group. They are “always connected” to the Internet in one form or another. Over 95% use websites for their real estate search.
I am a person of this generation and I could go on forever about how people of this generation like to be marketed to, (I will write a new post on it) but I want to give a few tips here.
1. Let them have control. They want control and have the power to get it. The internet has not only allowed the tech savvy to gather a mountain of information without the salesperson but it has allowed them to do it with anonymity.
2. Respect their privacy. Explain that their privacy will be respected and then do nothing to abuse this promise, we are very aware of spamming and marketing calls these days.
3. Give them space. 95% of online enquires are ‘soft’ and for information only. Be prepared to nurture the relationship for long term results. This just means that talking to people of this generation without the assumption of getting anything from it will work more than pressuring.
In short generation Y is the next wave of home buyers. As their grandparents enter retirement the people who fill their gap will be this age group. Generation Y people like to do things at their own pace, which is quite often fast. But don’t like pressure. They like to have things done their way and expect others to do it their way. This generation are probably not going to be as fussy as previous generations in terms of real estate as they are very diverse with acceptance. But properties that display the characteristics mentioned above will be more entertained.
This generation is very motivated and ambitious. They have the financial backing of both their parents and grandparents which show in the average age of a gen Y person owning a home is 27. I think that the market will become very exciting with more and more gen Y buyers coming to the market. As an agent I will have to keep up with ever changing media that we can advertise and market on. But being of this generation I have a slight advantage of being in the material as well.
I will do a blog post soon on marketing to People of Generation Y and list a whole host of social media that people use including gotaccess which will be released on Friday. A revolution to how we can possibly run our business and for people to gather information.
Deon Swiggs
Property Profits
August 04 2008 | The Market and Uncategorized | 4 Comments »
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