Demand for ‘as is, where is’ properties remains strong

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As Is Update(3)

Backing onto a strong start to the “ as is” market Team Griff’s 100% auction strike-rate year to date reflects both a strength of this active market for 2018 and the team’s proven marketing expertise.
Underpinning this 100% strike rate is multiple party participation, with an average 4-5 bidders participating in each auction.

Providing our homeowners with a selection of active bidders on auction day is directly attributable to our 1800+ strong database of known ‘as is, where is’ purchasers gleaned from a long track record of sales of uninsured properties dating back to 2012. This translates to competition with the real benefit of not having to rely on one person’s perception of value, as is invariably the case with an “off the street” type sale.

As the supply of uninsured homes on the open market now begins to decrease, we foresee the demand remaining strong, reflecting the inevitable fact that there is a finite supply of these properties.

Whether you are contemplating to sell your ‘as is, where is’ property or simply need a sounding board to bounce options off, please feel free to contact us in confidence – we’re ready to assist.

 

Recent success stories

45 Medway Street, Richmond

45 Medway Street, Richmond
3 beds, 1 bath, 1 living, 1 garage
Declared reserve $110,000
Days on market: 14
Number of inspections: 30
PropertyFiles downloads: 47
Bidders: 5
Sale price: $155,000

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529 Bower Avenue, Parklands
4 beds, 2 bath, 2 living, 2 garage
Days on market: 21
Number of inspections: 56
PropertyFiles downloads: 32
Bidders: 7
Sale price: $397,000

591 Madras Sunny-5


591 Madras Street, St Albans
4 beds, 2 bath, 1 living, 2 garage
Days on market: 7
Number of inspections: 21
Bidders: 3
Sale price: $365,000

From Rags to Riches…

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Rags to Riches

Talk about both ends of the property spectrum! Team Griff have just sold an earthquake-damaged flat in Waltham for $86,500 and a stunning architectural build in Waitikiri for a street record in excess of $1.3m – two Christchurch suburbs that are like chalk and cheese.

In both cases, assisting our owners to move forward with their lives for differing reasons is what makes this business so positively enjoyable. This sort of job satisfaction is hard to beat.

At Team Griff we pride ourselves with such versatility, having the skillset, systems and experience required to service a broad cross-section of both clientele and property.

For the cheapie in Waltham, it was a case of mucking in, digging deep into our 1,800 strong ‘as is, where is’ database of potential purchasers, not being too proud to do the hard yards of selling something that was rather undesirable. On the flipside, the $1.3m sale was one of my old neighbours simply touching base giving the heads up that they were intending to sell within the next twelve months. As it worked out we were working with a purchaser whose brief fitted the property perfectly – the rest being history. Needless to say, the owners were overjoyed with the result, let alone the convenience of not having to go to the open market with all the fanfare and intrusion of a full marketing campaign.

So whether your property is in the “rags” or “riches” basket (or somewhere in between) be sure to make contact, as there is a good chance we will be able to perform our magic for your situation and property too.

Why the New Year is a great time to sell

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Deciding when to sell is an important discussion most homeowners engage in prior to selling. Rating the new year market as a premium time to sell, Team Griff are already taking listings in preparation to hit the ground running in early 2018. Experience has taught us the new year market provides homeowners some real benefits when it comes to selling.

Here’s Team Griff’s key 8 reasons why to sell in the new year:

  1. Less immediate competition
  2. Time to prepare now ahead of a new year launch
  3. Purchasers are refreshed and enthusiastic in the new year
  4. Most of your pending competition are still relaxing on holiday
  5. It’s summer; the gardens look great and buyers are in a better mindset
  6. It’s an easier time to plan, plus it bodes well with new year job relocations
  7. With longer daylight hours there’s more flexibility to best showcase your home
  8. Simply push go now – we’ll do the preparation while you are enjoying family festivities

So if you thinking about selling be sure to touch base now to meet and “set sail” for a new year plan tailored to meet you specific criteria.

We are not the team if you want the cheapest commission, but do call us if you want experience, local knowledge and a team of experienced negotiators you can trust to get the very best possible result – our point of difference and your best saving! Let’s not forget the Harcourts machine and brand that has the reputation of premium selling prices.

When experience counts, whether it’s your earthquake-damaged home or your palace we have the bases covered. We’ll tailor a plan best suited for your circumstances, you, and your home!

Contact us today to discuss your plans on 0274 330 445 or info@teamgriff.co.nz.

Be Sold By Christmas!

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Bs Sold by XmasHere at Team Griff we are all about being one step ahead of the market.
Identifying current market trends and in order to maintain a proactive approach we are rolling out our “Be SOLD by Christmas” campaign. Our aim is to enable home owners to capitalise on this pre-Christmas window of opportunity.

Being sold by Christmas means you can kick back to enjoy the festive season prior to a 2018 settlement. Not only are our marketing packages designed to have it all wrapped up by Christmas, our client-tailored sale and purchase agreements drafted specifically to your needs and pre-approved by your solicitor will provide the peace of mind to sign it off anytime during this busy time of year. We call it best practise for a home owner and that’s what we are all about. Team Griff provides marketing and selling solutions that will minimise stress while providing a competitive advantage.

Teaming up with lead salesperson Peter Griffioen “Griff”, our team approach provides the advantage of experience with all activity shared by the same two team members throughout the campaign: teamwork for better results.

So, if you are contemplating selling, be sure to call/email us today to see how our “Be SOLD by Christmas” campaign will work for you, but remember time is running out so best do it now!

Team Griff embraces new online marketing

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Online marketing

Consistent with the Team Griff brand being recognised as online marketing leaders, the team has recently embraced the very latest form of advanced internet marketing, embracing the power of Google and Facebook targeting and re-targeting. Appreciating the importance and relevance of this type of marketing to enable our clients properties are exposed to a comprehensive and demographically targeted online audience is unquestionably our key focus.

Check out the video below to get an idea of what’s on offer:

This type of marketing means more exposure in less time, increasing top of mind awareness and triggering the attention of the unconscious passive browser.

While we also understand the importance of maintaining a balance of both print and digital marketing, the advancement of this online marketing is rolling out with pace and must be embraced to remain relevant in this fast paced digital age.

The bottom line is that we can provide more efficient and targeted marketing in a shorter time frame to the market most likely to be attracted to your property.

Talk to us today about how we can tailor make this form of marketing advantage for your next property sale.

Team Griff’s Spring Update

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Spring 2017 Header

We all love spring!

Longer days, warming weather and the inevitable countdown to summer and the holiday season – who can’t feel good about that!

Well, with an election looming it seems that some commentators feel the property market goes on hold – in my opinion what absolute nonsense! Life goes on and whatever comes our way won’t be life threatening. It may simply mean that we just need to change the way we do things. As quoted, don’t blame the market, simply change the game plan.

It is our opinion that a strong number of properties will come to the market prior to Christmas, so capturing the early spring market is a wise thing to do in order to avoid the traditional spring influx of listing stock.

Tempered but active market

Unquestionably the market has changed and to be quite honest I actually like the current market vibe. There are a good number of purchasers out and about looking with more time to make considered offers and are not so stressed. While there are more offers being made subject to sale the market activity is healthily brisk.

Largely in Christchurch residential property remains affordable and is void of spiraling property values, boding well for sustainable growth as the city rebuild continues. Both owners and purchasers win in this type of environment, where growing supply will curb escalating values in the short to medium term while longer term growth is on the horizon on the heels of our newly created city that is fast becoming that fresh and exciting place to live. Those looking at the bigger picture can do so with confidence.

North-eastern high school update

Avonside Girls’ High School and Shirley Boys’ High School are in the process of creating a brand new, state of the art campus, which will become a crucial asset for the east of Christchurch.

This is the first time in New Zealand’s history that two single sex schools will be co-located.

It is a groundbreaking development. Each of the schools will continue its rich history in delivering quality single sex education while the new campus will be able to offer students a wide range of opportunities.

Avonside Girls’ High School principal Sue Hume is buoyed by what’s ahead.

“Residents in the east of Christchurch have long been calling for a new high school, and the new campus will be a place where the community is welcomed. Many of our facilities, including the sports facilities will be available for community use”.

The new schools will open their doors in 2019. You can track construction’s progress at www.newcampus.nz.

Team Griff secures new recruits

In a bid to increase the size of our team and the quality of our service, Team Griff has been on a recruiting drive and is pleased to announce three new members joining the team:

Blair Stevenson – Sales Consultant
Keegan Adams – In training
Bianca Edmonds – Executive Assistant

teamgriff.co.nz for all things real estate (1)

As we draw closer to the end of the year, we’re at the ready to assist with your property decisions.

Griff Signature Jpeg version

 

 

 

 

 

How the general election impacts the property market

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Election Property Market

The hoardings are up (with a few to still to be updated), the door knockers are out in force, and our newsfeeds are flooded with stories detailing the latest resignations and policy announcements – election season is well and truly underway.

Policies and personalities aside, we’re often asked by clients how an upcoming election is likely to affect the property market, particularly sellers who ask whether it’s better to hold off until it’s over or simply to push on through with getting their property on to the market. The conventional wisdom is that markets do not respond well to uncertainty, and given recent developments, the election’s outcome is anything but certain. On the other hand, I’m yet to meet a buyer who has said that they’re going to forego a purchasing opportunity simply because they do not know the makeup of the next government.

While it’s easy for us to rely on anecdotal evidence and the vibe of the market, thankfully we have access to a considerable body of data from REINZ dating back to 1992. Back in 2014, real estate commentator Alistair Helm at Properazzi came up with a seasonable comparison. It uses the three preceding months leading up to each general election date and calculates the representation those months were of the total sales for that year. He then compares that % representation as a single figure against the normal for the same 3 months of the year based on a larger set of preceding data going back to 1992, as follows:

Election Year Sales Graph

Helm comments:

You could say that on average general elections depress property sales as 5 of the 8 elections caused property sales to decline as compared to normal. However there is no real consistency. The completely and significant opposing variance in the results for 1993 and 1996 are too significant to ignore.

Our friends at Bayleys have also analysed the data dating back to 2000:

Our analysis indicates that the majority of those choosing the ‘wait and see’ approach around election dates are property investors, as it is this section which is more likely to be impacted by changes in government policy.

The decision by owner occupiers looking to enter the market or move home tends to be driven by changes in personal circumstances, such as marriage, divorce, having a family, changing jobs, retiring etc. Once these circumstances are in play, the decision to purchase a new home is unlikely to be delayed solely because they coincide with the date of an election.

While there are signs that the Christchurch property market is cooling, this cannot be solely attributed to the election. The post-quake residential construction boom has boosted supply, while LVR restrictions are dampening demand, resulting in fairly modest price growth. The great thing is that a steady market empowers buyers and sellers to make informed decisions with confidence.

7 Reasons To Sell in Winter

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Selling in winter

With another steady month of sales, and July traditionally being one of my stronger selling months, I thought it was worthwhile to share the virtues of selling in winter. Interestingly, during the recent storm our open homes were busier on the Saturday during the thick of the storm than the Sunday when the sun was shining. I guess buyers were thinking it was a great time to see how they performed.

1. Less competition
Traditionally homeowners hunker down in winter and then all decide to sell in spring. It makes so much sense to sell when everybody else isn’t.

2. Like it in winter, love it in summer
Buyers like to see your property in the worst conditions. If they like it now they will love it over the warmer months.

3. High and dry
What else need I say after this winter and with recent flooding buyers can see for themselves just how your home has fared – both inside and out.

4. Heating and insulation go hand in hand
Winter will test the quality of your insulation and heating system. Practically showing how these key components function in winter will inspire confidence with prospective purchasers. A well-insulated home maintains ambient heat.

5. Time to show off
if your home is warm, sunny and dry, winter is the great time to tell the world about it. Sun shining right into a living area will convince so much better than a 1,000 words spoken.

6. Ventilation
A breathing home is a healthy home. Crying windows is huge put off to prospective purchasers. If you don’t have a ventilation system, we suggest you at least air your home regularly.

7. Appeal to the senses
Baking, coffee and hot soup, the ultimate feel goods on a winter’s day! Time to sharpen those baking skills, and there is probably no better way to impress the crowds than fresh baking greeting you at the door.

Over the years I have found that winter is actually a good time to sell, and here at Team Griff we would rate the winter market a close second to that of the new year market. Selling in winter also sets you up well to purchase in the spring, when there are traditionally more homes on the market. So, if you are considering the merits of selling, why not contact us now – you too could be pleasantly surprised with a great result.

‘As Is, Where Is’ Market Update

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Live Update- As Is Where Is Market (2)25 Foresters Crescent | Parklands
Inspections: 32
Bidders: 6
Sale price: $365,000 at auction
Vendor feedback:
“Good result today with the sale and appreciated the regular communication; a job well done.”

3 Kakariki Lane | Sumner/Clifton
Inspections: 35
Bidders: 3
Sale price: $515,000 at auction
Vendor feedback:
“While it would be fair to say that ours was not the easiest of properties to sell Team Griff took on the challenge professionally, dug deep and produced several bidders on auction day. The result, a sale price that we were quite happy with.” 

‘As Is, Where Is’ current market comment

Numbers through open homes are still holding up and while some are feeling the brunt of lending institutions both tightening their belts and lending criteria, our owners are still benefiting from multiple parties bidding on the day. The large majority continuing to be sold under the hammer. Team Griff’s sizeable purchaser database of 1500+ “as is” purchasers is proving invaluable when it comes to getting these properties across the line in a firming market. To date with 246 sales under our belt home owners looking to sell can rest assured that they have an experienced team at the ready.
To have the peace of mind that your property has been fully exposed to the wider open market in order to achieve the best possible result.

Do contact us today for friendly chat and to explore the options available to you.
Keep warm,
Griff Signature Jpeg version

Yet another exciting Parklands community development

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Pukeko Centre

In addition to the impending relocation of Avonside Girls’ and Shirley Boy’s to the former QEII site, as well as the construction of the Eastern Sports and Recreation Centre, it’s exciting to read about the next new project in our backyard.

The Pūkeko Centre is an exciting new community-led development in the heart of Parklands. The multi-use sports and recreation hub on the site of the Parklands Bowling Club will provide indoor and outdoor facilities for a range of local clubs, groups and organisations. Stage 1 of the development is due to be completed in late 2017.

It involves the relocation of two buildings from the former Freeville School – the Modern Learning Studio and the School Hall – onto the Parklands Bowling Club site in Chadbury Street.

These two ideally suited and good quality buildings were previously earmarked for demolition but have generously been made available to us by the Ministry of Education.  We are thrilled to be able to put them to good use for the benefit of the wider Parklands community!

The completed centre will provide a range of options for indoor and outdoor recreation and social activity including shared clubrooms, meeting rooms, catering facilities, hall, ample parking, bowling greens and all-weather courts for netball, futsal and tennis.

Nearly seven years after the earthquakes, it’s heart-warming to see this grass-roots effort come to fruition. The idea of re-purposing modern buildings from the former Freeville School is to be commended. It’s yet another example of Christchurch’s resilient recovery!