Don’t quite know what it means, or if it’s actually meant to mean anything, but a chart in a recent article here raised my curiosity.
I was trying to see what amount the Nelson/Marlborough region constituted in percentage mortgagee sales on the pie chart. And at first glance I could not spot our region. Further investigation reveals we must be part of the other SI, 3% component.
So I decided to do a search and discovered out of 450 listings in the Tasman region, and 466 listings in the Nelson region, there were only two listings with the search word mortgagee. And one of those turns out to be a fellow Summit agent using some creative advertising, so out of 916 listings on realestate.co.nz in our region there would appear to be just the one mortgagee sale.
Perhaps the popularity of region may have something to do with it, perhaps the fact that REINZ reported we were one of two regions to have the highest price adjustments in 2008 already at over -11.2% from Dec 07 to Dec 08, so the value proposition looks more compelling locally compared to other districts. Perhaps its because we have so many 2 bedroom flats in our local market, and perhaps the fact that the retirement homes in our local region have sold over 70 x 2 bedroom standalone villas may have aided consolidation, because none of those 70 + units aided local REINZ sales statistics.
A local example to illustrate….
Local company advertises for 2 x gravel truck drivers, permanent positions, they get between 900 – 1000 applicants. Now the boss needs a couple of helpers to help sift through them all, however he did tell the local paper, the Nelson Mail, “he expects there will be local applicants suited to the job”