Spring is coming – it’s time to get your house in order

It’s a widely held belief amongst sellers that spring is the prime time to sell your home. The weather has cleared up, the garden is in full bloom and buyers have come out of hibernation. However, there are a few things you need to be mindful if it is your intention to market your home in the spring.

 

  1. Consult the right people

If you haven’t already, get the ball rolling by requesting a market appraisal from your real estate consultant. We’ll be able to advise you on what can be done to maximise your home’s appeal, an effective marketing strategy, and walk you through the timelines you wish to meet – as well as providing you with an indication of the estimated price you’re likely to achieve.

 

  1. Be careful not to leave your run too late

Every year we see sellers who take advantage of the annual spring-time fervour in the market place. We’re already seeing it in August with very high clearance rates at our auctions, and new properties on the market getting snapped up very quickly. Typically, listings tend to spike in October and November – when the majority of sellers who initially thought of selling in spring time finally get round to getting their homes on the market. The laws of supply and demand dictate that this will at least have a moderating effect on prices, as buyers then have a greater selection of properties to choose from. By getting on the market by early September, you’re likely to still have time to sell, then find, purchase and move into your next your home before the end of the year.

 

  1. Cross those items off your home maintenance ‘to do’ list

Prior to getting on to the market, we suggest you get cracking on those outstanding home maintenance tasks that need completing. In the ‘steady-as-she-goes’ market that we currently have, any glaring jobs for buyers to complete can simply result in them moving on to the next, more appealing property. It’s also a good idea to have a builder or inspector cast a critical eye over your property during this time, to bring to your attention any urgent matters that require attention. This will pay off at the time of sale, lessening the likelihood of the sale falling over due to an unfavourable building report.

 

  1. Presentation is paramount

In a hot market, a seller can get away with listing their property in any condition, knowing that they’re likely to still be able to deal with a multitude of buyers. However, in this even-keeled market, we advise our sellers to ensure their home is presented in its best possible light. Ruthlessly declutter, give your home a deep clean, see to any deferred maintenance (see point 3) and have your garden look as appealing as possible. Determine for yourself what is the most you are prepared to do in preparing your home for the market, so that when it comes to decision-making at the time of sale, you know for yourself that there is nothing more you could have possibly done to affect the ultimate value of your home.

 

  1. Engage an effective marketing strategy

We have learned over the past 18 months that this is a market that rewards proactive and intentional marketing strategies. We’ll be able to assist you in preparing a marketing campaign that will ensure that your property is seen by the right cohort of buyers and achieve your objectives. This would normally be a combination of professional photography, grunty online upgrades, social media advertising, database contact and print advertising where appropriate.  Be wary of agents who say they can sell your property with little or no marketing investment – they’re either focused on the quick sale at any price, or are simply using hope as a strategy to sell your property.

 

  1. Consider how accessible your property will be to prospective purchasers

Many agents will say that one half-hour open home a week will be sufficient to attract buyers. At Team Griff, we couldn’t disagree more. We regard three open homes a week for the first three weeks on the market as the baseline standard. We hear from prospective purchasers their frustrations at having to prioritise properties to view – which are generally half hour slots between 12 and 2.00pm, either Saturday or Sunday. Making it easier for purchasers to view your property by holding longer and more frequent open homes, we’re increasing the opportunity to get more buyers through your property. More buyers generally lead to more offers, which then increases the chances of creating a competitive environment for purchasers – giving your best chance to secure a premium price for your property.

 

  1. Set out your plan then execute it

It’s said that a goal without a plan is simply a wish. If your goal is to sell your property and move into your next one before the end of the year, simply break that down into small, manageable steps to help keep you on track. We can assist by putting you in contact with contractors, gardeners, handy-men and cleaners – all there to help you achieve that end result you require. We’ve seen many times when sellers have rushed to get their home on the market, ignoring the important preparation, and to only take a “wait and see” approach – results in either selling at a significant undervalue, or languishing on the market for months. Sellers who put in the work behind the scenes and are intentional with their marketing strategy will be handsomely rewarded.

 

Whether you’re looking to sell this spring or are simply keen to get an update as to your home’s current value, contact us today for your free, no-obligation market appraisal. We’re here ready to assist.

Definite safety in numbers when selling ‘as is, where is’

While it is always tempting to take an off the street offer to supposedly save money, beware, this could be a costly mistake.

Time and time again we have proven that effective marketing that produces multiple interest in a property fetch better sale prices. One recent sale we transacted resulted in over $100,000 more being paid for a property than a previous ‘off-the-street’ offer.

Team Griff and Harcourts are renowned for providing a cross-section of buyers when it comes to selling property, meaning more than one party at the time of negotiation. Experience has proven that professional broad-reaching marketing provides the most effective platform to realise true market value – after all you can’t sell a secret!

Benefiting from the choice of multiple purchasers is the key to realising true and top market value when selling ‘as is, where is’.

Here at Team Griff, at the click of the mouse, we can instantly present your property to the inbox and Facebook feeds of over 2,000 subscribers – including some of the most active ‘as is, where is’ purchasers.

Check out these facts:

  • Team Griff currently holds 2137 subscribers in its active ‘as is, where is’ contact database.
  • Team Griff e-campaigns consistently generate an open rate in the vicinity of 40% – well above the industry average of 17%. This means approximately 850 subscribers will check out your property immediately once notified.
  • Team Griff, with 332 ‘as is’ sales chalked up, know the ‘as is’ market like the back of their hand. Team Griff’s marketing campaigns get results – all but one have sold under the hammer year to date.
  • Team Griff take it on themselves to understand the structural status of a property, meaning prospective purchasers are represented confidently with professional reports to support their due diligence.
  • Team Griff will draft the sale and purchase agreement (reviewed by your solicitor) on your behalf mitigating the risk to you upon settlement.

Clearly, to maximise return on your uninsured, ‘as is, where is’ property it is a numbers game. Talk to Team Griff today to get the numbers through your home, and to achieve maximum market value – our numbers speak for themselves!

It takes a village to grow a child

It takes an entire community of different people interacting with children in order for children to experience and grow in a safe environment.

With the opening of both Avonside Girls and Shirley Boys high schools there is a real buzz and energy in the air, especially when school is out! Unquestionably, schools become a focal point in any community and let’s not underestimate their significance in the part they play and the sense of community they provide. When planning a real estate move, priority to local schooling becomes a major factor and will often determine the final decision. Moving forward, such a key asset in the east of Christchurch will only prove to be a positive contributor in building a stronger local community – let’s watch this space.

Historically low interest rates

Having experienced interest rates in excess of 20 per cent in the late 1980s it almost seems beyond belief that today one can secure a mortgage for under four per cent. Currently with interest rates so low, investing in real estate has got to be a sound decision, especially in a growth city like Christchurch it’s a no brainer. Money in the bank is showing poor returns, plus you pay tax on it too!

Talk to Team Griff today for sound advice and to strategize your next real estate plans.

Busting the winter myth

Contrary to common belief that winter is a quieter time on the real estate calendar, from experience we have found that it is actually a good time to sell. With stock levels low and the more serious purchasers out and about, we find enquiry levels are consistent and often of a better quality. The less astute buyers simply don’t bother venturing out in the inclement weather.

So just what is happening in the north-east of Christchurch? While the median sale price in Parklands has remained consistent at $450,000 since the beginning of the year, this is up 27% over the past five years, whereas city-wide the median sale price has increased by 15% over the same period.

Sales volume in Parklands is trending downwards over the past 18 months – potentially a sign that homeowners in the area wish to hold on to their properties to fully maximise the effect of the new AGHS/SBHS school zones. The median days on market for Parklands is considerably lower than the city-wide figure – 26 compared to 36, showing that properties that are listed for sale are getting snapped up quickly.  

Shirley Boys’ and Avonside Girls’ High schools now OPEN

After much anticipation and excitement, the start of term two has seen the opening of Shirley Boys’ and Avonside Girls’ High Schools on the all-new campus in QEII Park. In just under two years we have watched these state-of-the-art facilities evolve from the remains of the former QEII Sports Stadium. The two schools share some spaces while allowing each other to maintain their own identity; a first for New Zealand education.

Servicing the north-eastern catchment areas for over 100 years, Avonside Girls’ first acquisition dates back as far as 1918 and Shirley Boys’ was first established in 1957. Obviously, the Canterbury earthquake sequence has been the catalyst for this new landmark development. Full credit to the main drivers behind this project who have shown great foresight and initiative.

Driving by recently just after school was out, the local streets were awash with students, not to mention the back to back bus layby. Certainly, a real buzz of activity and positive energy that can only be good for the greater north-east of the city.

The new campus provides two theatres, two gymnasiums with one that can be divided for multi-use and there’s even a climbing wall. Amongst several playing fields there is also as a full-sized hockey field and numerous tennis courts.

The new location to support a combined roll of 2,400, has also meant that new zones have been rolled out accordingly. While there is hot debate as to what suburbs should be included, the transitional zone extends from just north of Queenspark School to the end of South New Brighton, including South New Brighton, Rawhiti, Waitakiri and Parkview Schools. Moving forward many families propose that the future zone includes the existing Avonside Girls and Shirley Boys zones plus the Marshland catchment area.

There’s a community open night scheduled for Thursday 23rd May – we can’t wait to have a look through!

Counting the cost to sell

Going through the cost, time and inconvenience involved with preparing property for sale is something we all go through, myself included. Recently, my wife and I experienced this ourselves, where one of our rental properties required a pre-sale makeover and costs quickly escalated outside our original budget.

Now, nearing completion, to prepare the property for the market we’re in the process of staging it to ensure maximum effect when prospective buyers see it either online or in person. It’s an often overlooked area of the selling process but one we recommend nonetheless.

In the post-quake era we live in, a current property inspection provides extra peace of mind for prospective purchasers, as does a readily available LIM report (which we consider best practice). The right digital marketing plan is essential these days, and once all that is considered and the property is sold there’s the commission to take into account as well. When you add up all these costs against the investment you’ve made in your property, it goes without saying that you should expect a decent return come auction or sale day. It’s another good reason to hand pick a well-skilled agent with a proven track record and negotiation skills!

We encourage our sellers to give it their very best shot when it comes to selling. That way, when it comes to decision-making time, there is absolutely no question of whether anything else could have been done to extract a better result.

Preparing for winter

With brisk mornings becoming more common and daylight hours beginning to fade, it’s worth being mindful about the winter ahead. And while we’re advocates of selling during these months when there’s less competition, it’s important that you give proper attention to a few key areas in order to effectively showcase your home.

Effective heating, lighting and insulation qualities are given more notice by purchasers when inspecting properties during the winter. Never underestimate the perception these create. If you’re selling an investment property, or a property that is likely to be suitable as a rental, it’s also important to remember that new insulation requirements come into effect from 1 July. Check out the team at Warm Fuzzies, they’ll provide you with an insulation assessment for $50 +GST as well as quotes from a handful of insulation installers to get your property up to scratch.

Appealing to these senses and making people feeling like they can live there like it’s their own home is also key. A warm house with fresh baking on a cold winter’s day is the ultimate welcome home feel! Remember – a home liked in winter is loved in the summer!

New high schools create strong demand

With the keys ready to be handed over, the opening of a brand new shared campus for Avonside Girls and Shirley Boys high schools has created a new buzz in the real estate market. Local property is in demand as families continue  to relocate and secure homes within the zone  of these schools. It’s a great thing to see in the eastern suburbs and we expect to see these trends continue as all Christchurch state secondary schools look set to become zoned in the near future.

Without a doubt, enquiries are greater across the board. Just last week, a new listing triggered double the enquiry of a similar property that was out of zone. It’s a trend we haven’t seen for a while  and it’s incredibly positive for the community seeing families moving into the north-east for schooling as opposed to moving out.

Click here to read more about this state-of-the art educational facility.

Click here to view the latest video walk-through.

New year sales hard on the heels of new listings!

Once again Team Griff has begun the year with great gusto, successfully selling 9 of their 12 new year listings.

Unquestionably this is conducive with the team’s belief in the new year market and their strategic planned approach to maximising this window of opportunity. Our clients are directly benefiting! Being intuitive to the local market-place is important to ensuring the right approach and method of sale is being implemented for maximum return.

Taking a snapshot of three Team Griff sales

15 Roa Road, Fendalton
Auction

44 inspections
2 bidders
24 days on market
Sold post-auction for $712,000

 

95 Hills Road, Edgeware
No price marketing

50 inspections
16 days on the market
Sold for $375,000

 

105 Queenspark Drive, Parklands
Auction

31 Inspections
23 days on the market
7 bidders in attendance
Sold for $277,000

 

“While results aren’t everything, they are the measuring gauge of a carefully executed plan.”

Effective marketing is key to securing short term sales in the highly competitive Christchurch marketplace where buyers are enjoying the luxury of choice among properties. In the north-east of Christchurch we are noting elevated levels of enquiry (20+ inspections at a new listing this last weekend). The countdown begins for the pending opening of Avonside Girls’ and Shirley Boys’ high schools at the start of term two. It’s a real coup for the greater eastern suburbs – a terrific asset that will positively influence the local market for years to come!

As is, where is, more of the same

Activity from our 2000+ ‘as is, where is’ buyer database remains steady to strong, with supply waning demand is heightened meaning multiple parties inspecting and taking action.

Coffee and a chat is a good place to start – talk to Team Griff today.