Uninsured property update

Just Listed: 40 Bottle Lake Drive. LIghtweight construction, minor damage.

Just Listed: 40 Bottle Lake Drive. Lightweight construction, minor damage. More info at www.petergriffioen.harcourts.co.nz/pd3944

A24 Glastonbury_017

Just Sold: 24 Glastonbury Drive, Burwood – well presented, some remediation completed. Sold under the hammer for $365,000 with competitive bidding.

Just Sold: 39 Rawson Street. In complete disrepair. Sold for $75,000.

Just Sold: 39 Rawson Street, New Brighton. In complete disrepair. Sold for $75,000.

767-AU3723-Christchurch-City

Sold: 29 Foresters Crescent, Parklands. Fully habitable. Sold for $330,000.

Sold: 25 Seabrooke Drive, Spencerville. Minor damage, floor levels within MBIE guidelines. Auction brought forward and sold for $330,000.

Sold: 25 Seabrooke Drive, Spencerville. Minor damage, floor levels within MBIE guidelines. Auction brought forward and sold for $330,000.

Demand remains consistent
With Team Griff having just chalked up its 74th ‘as is, where is’ sale, it would be fair to say that the demand for these properties remains consistent. Our most recent sale saw five active bidders sparring for the same property. It goes without saying that the owner was very happy with the final result.

Target marketing of our 475+ strong “as is” e-database as our first point of contact continues to produce good response for our clients. Equally fresh enquiry from new purchasers also continues to fuel this demand as the greater marketplace gains both a better understanding and confidence in the process of acquiring these affordable opportunities.


Not just investors buying

Last week in two instances ‘as is’ properties were purchased for family members. The first instance being a couple securing a property for their parents to live in. The second, an overseas client who specifically flew to Christchurch to purchase a property for his family and will be returning with them early next year to settle in Christchurch. Once again it’s a clear reflection that a broad cross section of purchasers are pursuing this affordable housing option.


Sourcing insurance

While there is never any guarantee that any specific property will be able to be insured via a New Zealand insurer, we are now beginning to see numerous occasions where after either remedial works have been completed and or a favourable structural report (based on the structural integrity of the property) has been obtained, that several of the mainstream insurers are comfortable to re-insure these properties. It is pleasing to see that a common sense approach is beginning to prevail and more credence is being given to the integrity of the property rather than a black and white approach with regard to floor levels. We all know that around the country there are many properties that are fully insured and are “not on the level”.

 

More to come yet
Yes it appears that as both the policy holder and insurer are keen to reach settlement that the “uninsured” market will continue to forge ahead for some time yet. Also it is worth noting that in a way it is filling a need in the market by providing affordable housing in what is regarded by many as an overheated local marketplace, driven by the demand for housing and a fast growing population.

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About Peter Griffioen

Peter Griffioen - or simply Griff to those who know him - has an established reputation as a high-producing Harcourts Canterbury salesperson. With a focused approach to customer service you can rest assured that you are in good hands, whether it be a relaxed chat about the state of the market or an in-depth discussion regarding your next property transaction. The key advantage of engaging Team Griff’s services is their local knowledge and experience. Currently in this post-seismic era, it is vital to have true professionals working on your behalf, ensuring that you are guided through the process professionally and with a caring approach. The advent of the ‘as is, where is’ market means specialised expertise are required and Team Griff has taken it on themselves to both understand and explain the pros and cons of this now accepted sale/purchase option. For over 26 years the Griff brand has become synonymous with achieving results. Griff now prides himself with his five member team and takes much satisfaction from empowering them to both achieve and reach their own goals. A team with a proven track record placed with the highest ranking Harcourts Million Dollar Club members, exceeding the $275m level. Such accomplishments highlight the team’s exceptional marketing and negotiating skills. Team Griff are recognised as industry leaders for their online presence and regular blog posts of current and relevant real estate information. E-marketing and readily available property specific detailed info means Team Griff’s clients have the edge when it comes to selling their homes, not forgetting purchasers who benefit first hand. A simple Google search says it all – the Griff brand ranking with the most frequent. Griff’s life focus extends beyond business, with quality time and fun being high priorities, while mountain biking, boating and fishing provide that vital time out. His Christian faith is his anchor for daily living, and his community is important to him. For a team approach to optimize the result for your next property transaction, be sure to talk to this award winning team - synonymous with hard work and results! Griff and his trusted team welcome your enquiry today.

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