Don’t believe everything you hear in the news

I heard on the radio today how “down” the property market is and that hardly anything is selling at auction. Here’s a story that flies against that.Today we held an auction on 70 Stanley Rd, Gisborne. RV was $149,000. After taking 45 bids from 3 buyers (plus 2 other identifed buyers who chose not to bid) the property sold for $197,750. This was well above the vendor’s reserve price. It goes to show that if property is marketed well and provided that sellers are realistic, then property sells – in any market. Let’s not bow to the doom and gloom we hear all to often. 

February 13 2008 06:48 pm | company

One Response to “Don’t believe everything you hear in the news”

  1. Alistair Helm on 20 Feb 2008 at 2:31 pm #

    Neil

    Really valuable insight as to where statistic can become very dangerous. Facts and real life happens everyday and that is what you have succinctly explained. I share your pragmatic approach to the market. The naysayers and doom merchants are out in force.

    You may wnat you readers to review my recent post “Is NZ facing an impending property crash?

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