Xmas Newsletter – Good bye 2010
| Going Going Going Gone was the auctioneers cry on Wednesday as both the mortgagee auctions were SOLD under the hammer. Firstly 98 Tangitarori Lane went for $550500.00 after some very strong bidding. Secondly the Golden Duo (Greg Dickie and I) SOLD 38 Hahei Beach Road under the hammer for $520,000.00. A great day had by all.
This was the third property Greg and I have marketed and SOLD together, an unbeatable combination so we have self proclaimed a title as the Golden Duo. The golden touch, contact us now if you wish to be a gold member within this exclusive club!!
Bayleys Whitianga has continued to enjoy a buoyant final quarter of 2010. Having now recorded 19 sales since Oct. We haven’t seen sales at this level since 2004. So this is a really positive sign. The sales have mainly been on properties that have the 3 “P’s” loud and clear embodied in the marketing mix in getting the SOLD sign out the front. We all know the brands that sell from the super market shelves, the ones that are promoted, positioned on the shelf and priced right……it is no different with real estate.
We have some exciting new stock coming on the market just after Christmas…..a beach front at Opito, beach front at Matarangi (Kenwood Drive), a property on the Esplanade in Whitianga enjoying a prime position, 4 x mortgagee apartments to be auctioned in the Crows Nest plus a top performing Bed and Breakfast nestled into the mature Pohutukawa Trees at Ferries Landing. Give me a call if you require any further details on these up coming offerings.
Mean while I plan to make the most of the beautiful Coromandel over the summer season. I have some great mountain bike trails planned, might do a spot of fishing, throw in the odd swim, quite a bit of work, some BBQ’s with the fam, and enjoy watching the summer crowds enjoying our beautiful Coromandel Peninsula.
The Christmas period is well and truly upon us all as we all wait in anticipation to see what the big fat jolly man will leave us under the Christmas tree . Christmas is a time to reflect on what has been and what the future will bring, it’s a time for your family and friends, to forget about the woes of the world, to appreciate what we have and send our wishes to those who are not as fortunate. So make sure you embrace this time of year and enjoy with your family and friends and remember those who can’t be with you. Merry Christmas this will be my final newsletter for the year so a BIG MERRY CHRISTMAS and HAPPY NEW YEAR to you all……………Cheers On Ya Bike MIKE. |
December 18 2010 02:07 pm | Uncategorized
Russell on 18 Dec 2010 at 11:35 pm #
whew! 38 Hahei Rd sold for $695,000 in 2007 and now only $520,000
98 Tangitarori Lane sold for $850,000 in April 2005 and now $550,500
You call that “a great day had by all” – not for the sellers who just lost $175,000 and $295,500.
I guess that coastal prices really have sunk to 2003 levels.
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10691974
Mike Harper on 19 Dec 2010 at 11:48 am #
Russell……Yes I agree with you but it certainly is a reality check for those currently marketing property. The market has come back and yes people were paying too much in the heigh mid to late 20′s. On the Coromandel we saw underlying section values increase by as much as 100%. This was not substainable, however from a developers point of view with compliance costs and holding costs had to be sold at a higher level to provide a profit. So really the RMA and mindless compliance issues caused this massive increase.
These two examples illustrate the market at its worst as one property was run down and the other we were denined access, so in reality if presented to the market properly not under destressed sales situation the market should have paid at least 50k more for each property.
Cheers and Merry Xmas
Hoopla on 08 Jan 2011 at 1:35 pm #
Good points Russell.
“A great day had by all”… Mike you RE guys really are the lowest of the low.
Mike Harper on 09 Jan 2011 at 9:46 am #
Hoopla
The realty is obvious in the case of mortgagee sales is purchasers are looking for bargains. RE people are not the lowest of the low like you state – we are pruely conduits in the sales process. We endeavour to get the maximum for properties we market however if the vendor who ever they may be present a run down property or denines access whoses problem is it – we can only do the best with the tools provided!
Cheers and hope you have a great 2011