Archive for October, 2010
What a fantastic Labour weekend. The Coromandel was inundated with visitors making the most of the fabulous weather, clear blue skies, crystal sparkling water and the big yellow was out all weekend warming the hearts of all!
The beaches were packed the shops were busy and SH 25 was flooded with cyclists practicing for the K2 and K1 bike race. The water was awash with boats all out searching for that elusive fish, cray and scallop. It was great seeing the place humming, people enjoying themselves and hopefully spending money in our shops.
All agents were out there in the weekend doing open homes. There were several parties looking and several offers currently under negotiation. Hopefully some sales will result. It is encouraging to see the property market shift up a gear; we have been stuck in reverse for too long finally now finding first moving forward – YES! Can’t wait to see it move up to 4th!
Greg in particular has been rushed off his feet fielding enquiry on the fabulous absolute beach front he is marketing in Hahei. 19 Wigmore Crescent check it out on www.bayleys.co.nz/261882. The property is going to be auctioned on the 17th November 10 – should be a great day as the Mortgagee section in Tairua www.bayleys.co.nz/261912. is also going up for auction. I think Wigmore will sell for more than Tairua?
Speaking of properties for sale if you are looking in the Auckland market in particularly Greenhithe look no further as my twin brother Philip has his property listed with Bayleys – Clare Ellis. Check it out on www.bayleys.co.nz/301471630. Philip has done a lovely job landscaping and renovating this large 5 bedroom home – if you have to live in Auckland this is not a bad area, nice and quiet and a great pub down the road in Greehithe where my oldest daughter and her partner operate the karaoke on a Friday night. Go west and enjoy!
Well the months of training on the cycle hopefully will pay off this weekend as the K1 is upon us. This year the leg is from Tairua to Coromandel town. Over some nasty steep hills which will test the old legs, heart, body and soul. We leave Tairua at 12:00 noon and should be in Coromandel by 3:30 if all goes well. This year some really adventurous types are doing 2 loops of the entire peninsula some 400 kms, so just doing the 100 km leg is really not much of a challenge at least I’m out there doing it. I’ll report on the race on Sunday on my blog http://coromandelpropertyinsider.com it will be riveting reading – Yeah Right!
So if you are driving around the Peninsula this weekend take care on Saturday – expect to see up to 2000 cyclists on the highway. This weekend The Coromandel next challenge Lake Taupo 160K on the 27th November then the world!!! World Domination now that’s a challenge!!
October 31 2010 | Uncategorized | No Comments »
REAA – Consultation Submission
Further to the Questionnaire please find attached further issues that need to be seriously considered as part of your consultation process.
Firstly the series of questions in your form are worded as “closed questions” with all answered as “Yes” providing very little information of real value to the REAA. These questions provide zero true and honest opinions of the REAA and its processes charges.
I appreciate this submission is only to discuss the increase in fees. Therefore I will address that in the first instance.
The new levy structure I take exception that all licensees have to pay to regulate and discipline the industry. Firstly the $33.00 and the $73.00 should be paid funded by the naughty people who actually have fines imposed upon them. The fines should be used for that purpose not just boosting the government’s general coffers. Any thing else is “unacceptable” in my opinion. Fees are high enough already especially in the current economic environment where most licensees are struggling to make a living let alone pay for another level of bureaucracy that should be funded by the bad eggs in the bunch not by the responsible majority. In moving forward any body wishing to take a compliant to the REAA firstly would need to have demonstrated they have exhausted mediation with in the industry and then would need to pay a fee to lodge a complaint. This would help remove vexatious and frivolous complaints from the system. The costs to lodge the complaints would be refundable if the complaint is upheld and further action, fines or sanctions and made by the REAA against the licensee or agent responsible.
As the economic recession and the heavy handed bureaucratic direction the industry is heading will see numbers in the industry decrease. Reduction in numbers must see an increase in levy’s, with the predictions moving forward, therefore the REAA must also look at ways to reduce costs and ensure the industry and the complaints process is streamlined. To achieve this I believe an attempt has to be made by each complainant to mediate any solution within the industry prior to the REAA’s involvement. This is not designed to water down the REAA however remove a large number of frivolous and easily resolved issues from the REAA system. These should be resolved in an adult and mature fashion within the industry rather the heavy handed scary approach the legislation has created with the REAA. The REAA could have independent mediators that can assist complainants with this mediation process. The cost of this mediation covered directly by the parties involved.
The current complaint environment must see some vexatious litigants having a field day with minor complaints bogging down your systems. These are made at a huge cost which appears to be funded by the industry only. This is “unacceptable” as under the present system I would wager that the majority of current licensees with have some sort of complaint lodged against them in the next five years by not only the public but fellow colleagues, as the rules are so that we have to lodge a complaint if we witness colleagues pushing boundaries. The majority of these complaints should and could be dealt with as like the Police Complaints Authority in house by the industry. The current system is designed to encourage complaints, the REAA doesn’t care they will just raise the fees to cover these costs. There has to be a mechanism in place to regulate or qualify the complaint as the industry can not afford to keep at infinitum fund the REAA, the authority will end up by driving good licensees out of the industry.
With the level of complaints being received reported by the REAA the only current growth in Real Estate is in complaints…….most appear to be frivolous or of a minor nature. This is a sign of the economic environment where people feel vindicated due to thousands being lost from people’s house and commercial investment values. The poor licensee is the first to wear the brunt of this situation the REAA now seen as an easy way to get revenge with minor mistakes (normally which would be overlooked or worked through on a mature basis) being targeted as an opportunity to claw something back from the sale. So are the current complaints reflective of the participants in the industry or the hard economic times we currently are facing? If it is the latter the industry is also facing hard economic times and increased fees will only add to the financial burden for many.
The REAA is purely designed to provide disciplinary and complaints procedures within the real estate industry. The rules that we now have to operate as licensees are over the top with the pendulum now swinging too far the other way. The need to be required to hand out booklet after booklet repeatedly to people is purely ridiculous. The need to date but then provide a time is pure madness especially when dealing with trustees etc who have been emailed a document to sign. Yet if we make one trip up or error regarding these requirements the cost can be horrendous. The fines don’t fit the crime. Many of these requirements or processes create nothing having no measurable outcomes are they really necessary? I don’t think so. Other industries have far more complex agreements and transactions; yes they are dated but timed no. Even the “Treaty of Waitangi” New Zealand’s founding document signed on the 6th February 1840, was it signed at 12:00 noon 2:00 pm 4:35 pm who knows and who cares yet when it comes to real estate it seems to be very important. There is absolutely no point to this as there is no time on a sale and purchase agreement. Just more process designed to trip up the poor licensee.
Smart lawyers are using this to their client’s advantage with several licensees doing back door deals on trivial matters otherwise the threat of the being taken to the big bad REAA. Eg. Licensee failed to hand out booklet so don’t pay the commission. This is blackmail, and creeping into the industry.
The public need to be responsible for them selves…….The REAA’s requirement all information be made available from all sectors – REAA web site, all agencies etc. then handed out to all parties prior to all transactions. This information is freely available anyway with the agent needing to hand out at all junctions. Lawyers should also be responsible to their clients to ensure their clients are aware of their rights etc. The current act and requirements is designed to dumb down the public, people need to be responsible for their own actions……it’s a big wide world out there the current REAA rules make them think that dealing with Real Estate agents etc will be a bad experience, reinforced by the fact we hand them a sheet on how to make a compliant against us, I know of no other industry where this occurs – it’s just bizarre. Is it coincidental that we have seen an up surge of “Private Sales” as all this negative hype focused on this industry has made the public wary of dealing with agents? How will Private Sales be dealt with in the future? Who gets the blame if they stuff it up? Where is there protection? Let the buyer beware?
Thank you for this opportunity to submit on the REAA and fee structure. The REAA is an important organization however needs to exercise some responsibility moving forward. If this requires changes in legislation so be it as the industry no doubt will be making representation to the ministers etc. In the last correspondence forwarded by email the REAA has adopted a very defensive attitude when it needs to be seen to be working more closely with the industry, with its primary objective being reducing the levels of complaints being submitted not just creating a run a way machine encouraging the public, your colleagues or even the neighbours cat to lodge a complaint. Is the industry really that bad? Or did one minister of the crown have a bad experience and created a monster?
October 31 2010 | Uncategorized | No Comments »
| 9 Nicholas Ave – Sat @ 10:00 am Sun @ 3:00 pm
1 Nicholas Ave – Sat/Sun 10:00 am
53B South Highway – Sat 11:00 am
Unit 5, 4 Albert St – Sat 11:00 am
7 Protea Cres. – Sat/Sun 11:00 am
115 Buffalo Beach Rd – Sat/Sun 12 noon
45B Moewai Park – Sat 1:00 pm
29 Leeward Drive – Sat/Sun 2:00 pm
30 Aquila Drive – Sat/Sun 4;30 pm
8 Arthur Street – Sun 11:00 am
2 Harbour Lights Terrace – Sun 12 noon
18 Joan Gaskell Drive – Sun 1:00 pm
24 White Street – Sun 1:00 pm
19 Wigmore Crescent – Sat/Sun/Mon 1:00 pm
36 Grierson Place – Sat/Sun 2:30 pm
26 Otama Beach Rd – Sat @ 2:00 pm Sun @ 11:00am
So if you are out and about in the weekend looking for something to do have a look at this fine selection of properties. There is a property here for all price ranges tastes and requirements.
Other events this weekend for your entertainment
Bath Tub racing in the canals on Sunday
Opening of Liquorland – BBQ Saturday
Hot Pools – Lost Spring Cook Drive.
Hot Water Beach – Go at Low tide dig a hole and enjoy
Pauanui Waterways – 60’s 70’s extravaganza Sat
Shopping – Whitianga Down Town
Whitiang Market – Sat Soldiers Memorial Park
Kuaotunu Market – Sunday |
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October 22 2010 | Uncategorized | No Comments »
| Labour weekend is upon us and boy it looks like it is going to be a beauty. About time we had a great weekend especially a long break. My diary is completely full – that’s better than just lounging around and enjoying the beautiful Coromandel, I’ll just leave that to the visitors.
Our retailers will be absolutely crying out for a great weekend of retail therapy especially coming off a tight recession filled winter. We have a new retailer in town “Liquorland” has opened their doors in Lee Street. Full of specials to stock your cupboards for the super summer on our doorsteps. The girls at “House of Creations” in Coghill Street have been busy stocking up for the summer – check out the store which is situated behind “Subway”.
Mean while the real estate scene is starting to “hot” up leading into summer. I have enjoyed strong interest on the Otama Bay Road funky bach. Talking to the owners last week and they said even though it is only 2 bedroom they have had up to 16 people staying. What with the two sleep outs and pull out couch it’s amazing how many mates you can squeeze it. Check out the property on www.bayleys.co.nz/261884.
Other listings are also enjoying strong interest, due to this we have a really busy weekend planned ahead with “open homes”. The team will be show casing the peninsula’s best from Hahei Beach in the south – Greg with Wigmore Crescent – amazing beach front to Mike with 26 Otama Beach Road in the north. There are several properties in between suiting all price ranges and requirements. I have detailed all open homes below. Check them out and go have a look.
Mortgagee sales appear to be my calling at the moment, I have put submissions together for the banks on another couple this month, not sure if they will come my way however this is a sign of the times. What with the apartments last month (still have offers on the table but the bank still hasn’t made the hard call) to the section one back from Tairua Beach. www.bayleys.co.nz/261912. Some ones misfortune could be your lucky day, give me a call and we will give you the details.
Kylie Pullen – Bayleys Kuaotunu real estate dynamo has just listed a couple of “hot” properties. One at Kuaotunu – large Brick n tile 5 bedroom home in Kawhero Drive. This property would suit a retired farmer or someone who wishes to retire to a bullet proof home this one will be perfect. It even has a therapeutic spa where you can relax after a very strenuous day out fishing. Check it out on www.bayleys.co.nz/261
The other really sizzling hot listing is number 328a Kenwood Drive. This neat property is in the old part of Matarangi just metres from the beach. Two level, two bedroom, huge north facing decks, large living and just $375,000.00. That is bloody cheap!! I believe the furniture is also thrown in at that price. Check it out on www.bayleys.co.nz/261915. I took the photographs that’s why it looks so great! Go Kylie these are both great listings they won’t be on the market for long.
The other “hot” listing that needs to sell as the vendors have brought elsewhere is 7 Protea Place. A brick n tile 3 bedroom 2 bathroom home which is surround by reserves, only one close neighbour. Looking for a new care giver this is a great permanent home or spacious holiday destination for you and your family. Check it out on www.bayleys.co.nz/261906.
Meanwhile one more week and Coromandel’s cycle challenge will be upon us. Those real machines doing the K2 will be on the road around 7ish the slackers doing the K1 me included start out at 12:00 noon leaving Tairua for Coromandel Town. If you are on the road leading up to including the big event – take care cyclists have as much right to be there as you do. Happy training, happy holidays and may the sun caress your face this long weekend.
Remember phone, email or text me if you want any information on anything that tickles your fancy. http://coromandelpropertyinsider.com. |
October 22 2010 | Uncategorized | No Comments »
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Not quite the race of the newly formed “Super City” with Len Brown romping home well ahead of Banks. The TCDC local body elections have certainly produced a very new council which will be a positive move forward for our community.
Firstly CONGRATULATIONS to Glenn Leach the new mayor of TCDC. Glenn was a District Councilor back in the 90’s and in my opinion one of the best we’ve had in recent years. He got things done for our community. The last council was too divisive to actually to achieve anything with Glen at the helm I feel we will have a more united council.
Only one of the existing councilors Jan Bartley from Whangamata was returned every one else is fresh no doubt ready for the challenge that lies ahead.
You can check out all the election results on the following web site:
http://www.tcdc.govt.nz/Council/Elections/Election-Results/ |
I hope the new council can work together to change the mindset of staff – from re-active concentrating on processes to Pro-active concentrating on outcomes. Now that would be unique!!
October 15 2010 | Uncategorized | No Comments »
The school holidays have come and gone with Whitianga getting back to normal. Now it’s the traditional build up to Labour weekend which means Christmas is just around the corner. Then before we know it Coro gold will bring in a New Year and the cycle will start all again. Only this time 2011 will be better brighter and positively more prosperous for everyone. Rugby World Cup for starters should boost the economy.
The bank is still pondering its position with the Alderman Apartments we took to mortgagee sale earlier in the month. I have presented several post auction offers and hopefully they will make a decision over the next couple of days. Mean while I have also listed a mortgagee section at Tairua being 124a Ocean Beach Road. This section is one back from the beach and 400 sqm in size. Ideal for that great little holiday bach. You can’t see the water from the section but the waves with soothe you too sleep at night. You can check this section out on www.bayleys.co.nz/261912.
We are also receiving good interest on the “Funky Otama Seaside Bach”. I took the staff out there on Tuesday and they were just mesmerized by the view. I rave on about photograph being so important but some times you just can’t capture the beauty. This definitely is a property that needs to be visited to appreciate the views and the beach below. Inspiring and certainly giving you that “on holiday” feeling. Otama in my opinion one of the gems on the Coromandel – Simply Stunning. www.bayleys.co.nz/261884
My web site http://coromandelpropertyinsider is starting to gain some real traction. I find this is a great forum as well as the “unconditional” blog of realestate.co.nz to promote my listings, The Coromandel Peninsula and also provoke some comments regarding the industry, local politics etc. It is also a little bit of fun not too much just a little! Go on line check it out and please leave a comment!
At the moment we are experiencing a lot of locals upgrading from one property to another. This has resulted in vendors becoming buyers then the vendors becoming buyers. A fragile situation at the best of times one hic-up and all the contracts could fall like a pack of cards. This can also result in having to sell one listing to get all the other contracts together. The Property Bev and Sheree have just listed in Protea Place is such an example. This is a solid Brick and Tile 3 bedrooms 2 bathroom double garage and large living dining kitchen area. This house ticks all the boxes if you are after a brick and tile. This property needs to be sold don’t delay ring me now! www.bayleys.co.nz/261906.
Lonely Planet – the internationally recognized guide to the world has identified Whitianga as the 11th must place to visit in New Zealand. Not quite in the top 10 but oh so close…..have you experienced Whitianga?
http://www.lonelyplanet.com/new-zealand?ref=nf
The best news of the week has to be awarded to the Chileans with the rescue of the 33 miners stuck 700 metres down a collapsed mine for 69 days. The world watched and waited for this rescue and was ecstatic when they finally game to the surface. We done the world could do with some cheering up.
Also well done New Zealand at the Commonwealth Games. You made us proud to be a kiwi. The Silver Ferns certainly had a nail biter last night to win GOLD over Australia. It was a pity about the attendance with billions of people in India you would have thought they could have filled the stadiums or were they all on the phone telemarketing to the world?
Finally it’s only 2 weeks to go to the K2 bike race. I’m doing the K1 from Tairua to Coromandel. There have been lots of cyclists on the roads in preparation so take care we have as much right to be on the roads as the vehicles do. Hopefully the cyclists out there respect your rights as motorists as well. At the end of the day what is a couple of minutes tacked onto a journey – probable the difference between life and death. Take care on our highways and byways.
October 15 2010 | Weekly Newsletters | No Comments »
| Another mad week in the world of Real Estate. Throw in a trip to the “Big Smoke” several trips to Tairua for last minute inspections of the mortgagee apartments prior to the auction and a couple of quick bike trips thrown in for good measure……life in the fast lane.
The highlight of the week being seeing 2 of my daughters in Auckland. Pizza a few beers a couple of laughs topped off with the twin brother and part of his family coming around for some more laughter – no more beers for me as I had to drive back to Whitianga.
My twin brother is just launching a new retail product that is a computer program training system you buy off the shelf anytime or when you buy a new computer. Check it out on www.learnhere.co.nz. And fine tune your computer skills.
The two mortgagee auctions on the 6th went very well. I had bidders in the room and had healthy bidding on Unit 10. It didn’t quite sell under the hammer and we are still negotiating. Unit 1 had no bidders with only conditional interest. So if you are looking for a harbour side apartment in Tairua give me a call.
The office continues to be busy with several offers floating around on various properties, from canal front to residential properties in the early $200 range. The looming summer months must be building peoples spirits – let’s do something as this recession in depressing.
The ex state house in Hannan Road sold at full listing $230,000.00, we had 4 strong offers on this property. Just goes to show if property is priced right the SOLD sign will go up and in this case just in 7 days of being placed on the interweb. The formula was easy!! Price the #1 “P”.
One of my clients rightly pointed out too me that there is another “P” that I forgot in my epic paper helping you to promote and sell your property – that is “Process”. I won’t dwell on process as that one word is a reason why our district council doesn’t work as the staff is bogged down focusing on “Process” not “Outcomes”.
Bev and Sheree have just listed a 3 bedroom brick and tile in Protea street. This property is a very nice home on a large section. Access to the back of the property is available from the neighbouring reserve. The home has been used as a holiday home therefore has had little wear and tear for it’s age. This is so new to the market it has only just gone on the web. www.bayleys.co.nz/261906 Priced at $410,000.00 this is great buying call me too view.
Below I have listed several “cheapies” that are ideal for holidays, renters or holidays – we have a number and most of the vendors are keen to move the properties. You may be the solution to there problem so give me a call and I’ll show you the one that ticks your needs.
Mean while the K1 is looming and every spare minute is in training honing and getting the perfect cyclists body (yeah right!!!!). I brought a trainer wind machine off Trademe and now it’s peddle peddle peddle. Looking forward to the K1 and Lake Taupo race being over then we can go back to exploring all sorts of forestry and farm tracks on the mountain bike.
So over the next few weeks if traveling on the peninsula take care as there are heaps of cyclists out and about. Not like the idiot who past me the other day all for a couple of seconds he tried to kill himself and family – impatient dickhead! |
October 12 2010 | Uncategorized | No Comments »
REAA – Consultation Submission
Further to the Questionnaire please find attached further issues that need to be seriously considered as part of your consultation process.
Firstly the series of questions presented are worded as “closed questions” so all should be answered “Yes” providing very little information of real value to the REAA. These questions provide zero true and honest opinions of the REAA and its processes charges etc.
The REAA is purely designed to provide disciplinary and complaints procedures within the real estate industry. The rules that we now have to operate as licensees are over the top with the pendulum now swinging too far the other way. The need to be required to hand out booklet after booklet repeatedly to people is purely ridiculous. The need to date but then provide a time is pure madness especially when dealing with trustees etc who have been emailed a document to sign. Yet if we make one trip up or error regarding these requirements the cost can be horrendous. The fines don’t fit the crime. Many of these requirements or processes create nothing having no measurable outcomes – are they really necessary? I don’t think so. Other industries have far more complex agreements and transactions; yes they are dated but timed no. Even the “Treaty of Waitangi” New Zealand’s founding document signed on the 6th February 1840, was it signed at 12:00 noon 2:00 pm 4:35 pm who knows and who cares yet when it comes to real estate it seems to be very important. There is absolutely no point to this as there is no time on a sale and purchase agreement so why at time of listing?. Just more process designed to trip up the poor licensee.
Smart lawyers are using this to their client’s advantage with several licensees doing back door deals on trivial matters otherwise the threat of the being taken to the big bad REAA. Eg. Licensee failed to hand out booklet so don’t pay the commission. This is blackmail, and a practice that is creeping into the industry.
The public need to take some responsiblity for them selves…….The REAA’s requirement all information be made available. – REAA web site, all agencies etc. then handed out to all parties prior to all transactions. This information is freely available anyway so why is there a need for the licensee to hand out at all junctions. Lawyers should also be responsible to their clients to ensure their clients are aware of their rights etc. The current act and requirements is designed to dumb down the public, people need to be responsible for their own actions……it’s a big wide world out there the current REAA rules make them think that dealing with Real Estate agents etc will be a bad experience, reinforced by the fact we hand them a sheet on how to make a compliant against us – I know of no other industry where this occurs – it’s just bizarre. Is it coincidental that we have seen an up surge of “Private Sales” as all this negative hype focused on this industry has made the public wary of dealing with agents? How will Private Sales be dealt with in the future? Who gets the blame if they stuff it up? Where is there protection? Let the buyer beware?
In regards to the new levy structure I take exception that all licensees have to pay to regulate and discipline the industry. Firstly the $33.00 and the $73.00 should be paid funded by the naughty people who actually have fines imposed upon them. Any thing else is “unacceptable” in my opinion. Fees are high enough already especially in the current economic environment where most licensees are struggling to make a living let alone pay for another level of bureaucracy that should be funded by the bad eggs in the bunch not by the responsible majority.
In regards to the user payers this should apply to all users or complainants to the REAA. There should be an application fee to lodge a complaint refundable if the matter once investigated has some substance with fines imposed. The current complaint environment must see some vexatious litigants having a field day with minor complaints bogging down your systems. These are made at a huge cost which appears to be funded by the industry only. This is “unacceptable” as under the present system I would wager that the majority of current licensees will have some sort of complaint lodged against them in the next five years by not only the public but fellow colleagues, as the rules are so that we have to lodge a complaint if we witness colleagues pushing boundaries. The majority of these complaints should and could be dealt with as like the Police Complaints Authority in house by the industry. The current system is designed to encourage complaints, the REAA doesn’t care they will just raise the fees to cover the costs. There has to be a mechanism in place to regulate or qualify the complaint as the industry can not afford to keep at infinitum fund the REAA, the authority will end up by driving good licensees out of the industry.
I conclude with the following comments which were posted on the Real Estate “unconditional” web site by Colin Kelly. May be the authority should look at its own statistics and work out that the majority of complaints are ridiculous and work out a cost effective and easy way to deal with them. The majority should be referred back to the industry for adult mediation to resolve, so maybe serious consideration needs to be giving to providing mediators within the industry rather than purely being a judicially based organization.
Colin Kelly states:
“REAA have only dealt with 23% of 700 complaints to them. Of the 160 done, they threw out 45. Of the 120 they looked into, 107 needed no action. In 11 they found “unsatisfactory” conduct. Only 3 charges laid in 10 months.
So you could say under 10% of complaints have much substance. Puts the claim the old system was “too easy” on the industry in doubt, doesn’t it.
And that only 3 complaints were regarded as serious. Maybe 40 000 house sales in that time.
So that’s about 80 000 vendors and buyers that could have complained, plus unsuccessful buyers, plus your opposition, and don’t forget they have asked your colleagues to complain about you too …. I think the cat is allowed to lay a complaint as well. And remember there are 17 000 licensed agents, this is a big industry.
Give your industry & yourselves a pat on the back. This is a record to be proud of in my opinion.”
October 12 2010 | Uncategorized | No Comments »