Archive for October, 2009
Many times when a property is placed on the market for sale in New Zealand it’s at the price the vendor wants. Or in some cases where an agent has told them a “buy the listing” type price, then they’ll probably go for that because 9 times out of 10 that will be higher than what their good sense thought they would get.
So sometimes in the lifecycle of a property listing it has an adjustment conducted on its price. Most times this is by way of the reduction variety.
Unless a savvy browser keeps tabs on many properties then this will not be known to them, except where they also scan the weekly property magazines for that area.
However if you are from out of town, or overseas then you possibly wouldn’t even know the property has dropped in price unless you have been told by another party. Or were keeping an eye on just a few select properties.
Which brings me to such a great idea. This great idea is working right now in the UK.
It goes like this;
1] you select your region / county of choice
2] and you can view the price reduction results online in a page turnable magazine style format just like the Summit Weekly and other online magazines. If you have tired or stressed eyes, then by hitting F11 you can see the magazine full screen.
3] theres also an option where you can subscribe by email address to be notified of each weeks changes.
There was recently here on the Voices platform a discussion on the merits of placing a SOLD across properties to inform the general browser community a bit better. I suggest that this is imminently more practical and usable in day to day life for a property searcher / buyer than a SOLD overlay on a property. Surely buyers actually want to know when a property reduces in price, it might just be to a figure that hits their button.
Undoubtedly a price reduction is surely a sign of increased urgency, and this information should be imparted to as many people as possible as quickly as possible. This is what the web and property portals are great at.
Is this something the browsing property buyers of New Zealand want to see?
October 30 2009 | Buyers and General and New Zealand and Sellers and Technology | 2 Comments »
30th October 2009
Seasonally adjusted figures released today by Statistics NZ show a rise of 2.8% (excluding apartments that is) in the volume of new housing consents authorised across New Zealand.
In the press release Statistics NZ comment;
The trend has increased by more than 20 percent in the last six months, following a decrease of over 50 percent between the recent peak in May 2007 and the low in March 2009. When apartments are included, the trend has been increasing since January 2009, although it has eased in recent months.
Nelson has been on an encouraging upward trend for the last quarter, coming off a very quite beginning to the year. This trend is also reflected in neighbouring Tasman District.
On the street I can say it was bound to happen as locally we have gone from selling 1-3 sections a month for the first half of 2009 to selling over 10 a month for the last 3 months.
October is looking interesting too, currently via REINZ figures Nelson is sitting on 17 residential section sales, and that’s quite an uptick compared to previous.
October 30 2009 | Buyers and General and Nelson and Stats / Sales Data | No Comments »
29th October 2009
Google does it again.
It had to happen, just a matter of time really……. and here it is!
Garmin, Tom Tom, Uniden, Navman, Magellan et al….perhaps are awakening today, and after reading this……may not have that usual Silicon Valley smile on their face.
Accordingly to the Official Google Blog, (and announced simultaneously on the Google LatLong blog too) the Eagle has landed.
Yes Google is now 100% in the GPS – Navigation business.
Must admit I was a bit puzzled earlier today when I saw a camera icon on most intersections on either Google Earth or Maps, but oddly enough they don’t appear to be there tonight?
With clouded speak just a few days ago…….
Google spokeswoman Carolyn Penner noted that consumers frequently ask the company to add navigation to Google Maps, but declined to comment on future products.
…………….well it pretty much looks like they have delivered on that one.
The march forward continues………
NB: initially this is logically, from a Google point of view just for Android 2.0 phones
October 29 2009 | General and Technology | No Comments »
29th October 2009
Could there be a danger in blindly following, and basing your initial appraisal assumptions, calculated though they might be, on using the CV figure as a base value of a designated property.
After all, to come to that figure, QV have utilized a heck of a lot more than just my, or your brain alone.
Well to my way of thinking, and I am certainly open to others thoughts on this, you could get yourself into a bit of bother if you blindly & solely follow this “status quo” recipe.
Why do I say “status quo?”
As a generalization, many “newbies” entering the selling industry look to past experience as the best litmus of future success.
Let me tell you, Real Estate is no different.
Can I suggest ours certainly wouldn’t be the first industry to adopt a practice like this. Following in the shoes of past successful champions sounds like a way to “short circuit” mentoring if you ask me.
In a way I guess that’s what Uni is all about, isn’t it – past experience examples, case study history, etc.
I’ve been brought up to emulate the holistic success’s of past salesperson’s like Zig Ziglar, Og Mandino, et al……if not in habit….then most certainly in principal.
You might note the dynasty of these mentioned names, not for no reason let me tell you.
When I commenced in Real Estate I suspect I was no different either………. my first few weeks after I received my Real Estate Certificate, I too wanted to know what was “the secret.” I did receive conflicting reports from well intentioned folk, and overall, that suggested to me right there at the beginning, that there may not have been one single 100% path to follow to ensure “guru” status and subsequent success.
Why?
The why is looked at as the “how” but overall if you don’t have the “passion” to look after folks interest’s at heart, then your time in the selling industry (and that’s not just real estate) I suggest, will be limited.
Which brings me to the point of the post.
Check out this table………..it was one of my appraisals yesterday, and yes, as I have been told many times before over the last few years……….I do go a bit over the top when it comes to these………but hey ………if it was my property, then for me………….frankly this is exactly the sort of detail I’d want/insist to see anyhow.
Simply put you cannot evaluate every property based in core, on its CV value. The above snapshot from my spreadsheet demonstrates this perfectly. Those sold have been in the range 976 to 1500. Those currently “on the market” are priced at 1527 to 1831. Notice something here?
You don’t have to be a Rocket Scientist to note the differences, now do you? The m2 $ for properties on the market when compared to those that have sold……hmmm……bit of a difference, right?
If you are considering placing your property for sale, then you want to make sure your property is “in the zone.”
To sell?
OFF COURSE …..but more importantly to generate that initial Interest………. after all why do people buy?
Logically, because the numbers stack up……..well yes if you are an investor.
However as a home owner more than likely the property decision is an emotional one………..
And just as similarly …..no that does not mean as a seller that you have to accept the first price/offer past the post, …………whats important in this Oct/Nov 09 market is that you do get at least a few offers over the goal line after the first open home.
That’s exactly what happened to my listing in Fergusson St two weeks back.
Taking my advice, my clients opted for the front page of our weekly magazine (distributed in the local paper Friday).
That was backed up by a Saturday colour insert.
I then conducted not only a Saturday Open Home, but followed that up the next day with a Sunday one. I did have interest in the property earlier in the week, but frustrated some other agents by informing them that “in the best interests of my clients” we were going to wait til after the Open Homes to table all the offers.
Long Story short, after calling all offers, the add from our magazine tells the story…………….
……..31 groups through the location, all offers presented, property sold, Monday am……..less than 20 hrs after the last of the two Opens…….for a very satisfactory price……..totally unconditional. SOLD on the spot so to say.
Let me tell you that more than anything I do, I love the fact that my appraisal figure is usually within 2% of what the property sells for.
Of course I enjoy the initial process, the calculations, the appraisal, the listing, the marketing, the ongoing selling, the “reach an agreement” situation, the “follow thru”, and the “unconditional letter” that arrives from the buyers solicitor, but you know what?
Frankly the most exciting thing for me is that the finally accepted price is so close to what I appraised the property originally would sell for.
In some cases, a seller decide’s to go with the “other agent” because she/he said it would sell for $20-30K more…..but 2 months later they’ve got sick and tired of their selected agent telling them “the market isn’t seeing it at that level…….and you need to reduce the price” type of statement…..and I get the phone call.
When oh when will clients/sellers realise it is not that agent buying the property! (perhaps they should ask that agent if they are prepared to buy the property there & then for that price – now that’s a novel thought?)
Time goes on…………..
October 29 2009 | Buyers and General and Nelson and Sellers and The Market | 1 Comment »
Recently the local council, Nelson City Council had a makeover/redesign and update of their website (in conjunction with Wellington based NZ web developers Silverstripe )
Must admit in general day to day use, its a site I visit almost daily, its decidedly easier to navigate around than the old version.
Following this up recently, the Tasman District & Nelson City Council’s have launched another joint initiative, the new “Its On” website.
Its aim is to inform all exactly what “is on” in the region covered by both Authorities catchments, and I’m sure they would like it to become the “one stop shop” locally for that type of information.
They make it easy for locals to upload Events free, publishing the “The Nelson Event Handbook” online here.
So if you were planning a property scouting trip to Nelson, or wanting to visit to investigate lifestyle / retirement options, you might just want to check here first.
That way, you could coincide your trip with one of our many local events, especially now that Spring/Summer is upon us.
You can also subscribe by email so that you can keep an eye on upcoming events.
October 29 2009 | General and Nelson | No Comments »
News last week that Google will index and incorporate Twitter tweets in their searches will speed up the present realtime search timeframe, from 1/2 hr to an hour down to minutes if they get everything right, and who’s to doubt that the search giant won’t?
This is a trending item that will change the experience users will have when using Google.
In a way the drilling down of timeframes from the monthly mags – weekly news magazine – daily newspaper – hourly TV – 10-15 minute Google News appearance – to perhaps 1-2 minute tweet timeframes, has parallels in the use of data relevant to a users location.
In the beginning the first BBS (Bulletin Board Systems for those that remember) was about local, then the idea that we could search for a product nationally or internationally caught on. Have we come full circle?
There is a word being thrown around out there by those trying to predict the future direction of the net, and that word/phrase is Hyper-Local.
Best illustrated here by an example, and great to see its actually a Govt initiated one, albeit in the UK.
Directgov | innovate appears to be a government sponsored site encouraging the development of local applications that “actually matter to people.”
They put it this way;
We developed our platform to enable conversation with the developer community around innovative use of digital technologies. In addition to our blog we ask people to submit examples of innovative citizen focused apps or ideas for apps that could be developed using government data or that demonstrate innovative use of technologies.
What better application could there be than one that allows residents / local users to enter information they are directly interested in – in a sort of local neighbourhood Wikipedia style way.
“Safer Streets” is currently highlighted as a Beta version, and they are piloting this over 3 UK locations.
ABOVE GRAPHIC – full size here
The purple ringed image above is from one of the “live” locations, being Luton.
What an informative thing for Real Estate though, placing real pressure on individual councils and territorial authorities to ensure they have places where people like to live, work & play…….while also feeling safe and secure.
Will it lead to a live suburb ranking system – almost realtime – not one that relies on 2 yr old census data or 18mth old jurisdiction authority records?
Great for rental property managers, and even more interesting for property investors.
There’s no doubt apps like this would add another dimension to the home selection process.
October 27 2009 | Buyers and General and Technology | No Comments »
Nelson City Council, in combination with Takeabreak have a webcam high atop Princes Drive in Nelson.
A neat feature, perhaps that should be called featurette is showing here.
It appears to be a time lapse of the current day so far (well for example on Monday am it was only 8 minutes old when I checked.)
And just in case you aren’t to sure what you are looking at, hope this helps.
Thought I might just include a Google Earth snapshot here too so you can see the area.
Large Higher Res shot of above snapshot here.
And here’s the one from a perspective look. In both cases the yellow shaded polygon approximates the outlook from the Princes Drive Webcam.
Large Higher Res shot of above snapshot here.
DISCLAIMER – Boundary lines are as approximately accurate as I can make them.
October 26 2009 | General and Nelson and Technology and photography | No Comments »
1. How fast is your Broadband Map
Now this is what we need here in NZ.
There’s been quite some discussion since Xtra changed removed their very popular “Go Large” Broadband plan and indicated to all previous users they were to transition to another “better” plan.
Courtesy of mapperz, I have just seen a great site in the UK called Top 10 broadband.
One particular feature on the site is called “Street Stats.”
What it does is quite simple really, it aggregates the findings / reports from many users and displays them graphically with the help of Google. Test it out here.
Fantastic resource for Tech savvy renters? Maybe property Investors could get an extra $5 a week from a tenant who spotted the “To Let” add stating as much.
Would be fascinating to see a Kiwi equivalent now wouldn’t it?
SOURCE CREDIT – mapperz
2. New 2/3D QR like Code in Beta
Microsoft also wants to get into 2D (3D?) barcode space – they have their “Microsoft Tag” in Beta and if you have already have a Windows Live account then it’s real easy to sign up.
I have spoken previously in March here, and in April here (and briefly here in June) about these 2D barcode tags and why I believe we’ll see even more of them in the future.
The above is a direction URL “tag” that will deliver you to this Nelson Real Estate site. To get a software reader for your mobile phone you’ll need to head on over here.
Above graphic from here.
There is still much debate about these codes but I note for some months now the Open2View guys have been displaying them on client companies “For Sale” signs around Nelson.
With the push away from text to visual / graphical (witness MS’s Surface – a feature I think now built into Windows 7? ) and you can see many more possible uses for these.
3. What sort of home does £1000 buy
A guide Price of £1000, can it be true?
Well this County Durham property is indeed advertised with that detail, even though its an Auction.
I guess taking the property to Auction makes a lot of sense as I suspect there would be many people interested in a property at such a low Guide Price.
To be factual, the £1000 is a Guide Price only, and if you’ve seen those UK property and Real Estate programs, not a lot of credence can always be given to them.
Although as this link shows – it may need a bit of DIY.
However the fact that someone quotes it will achieve a figure like this either “believes it” or is just trying to get their own 15 minutes.
The Rightmove link will only work so long as the property is listed on their website for sale. Once its sold, you’ll just get an error.
SOURCE ARTICLE – thisismoney.co.uk
October 25 2009 | General and New Zealand and Technology and The Market and photography | No Comments »
If you didn’t then you may have missed out on a buyer..
Marketing 101 dictates that you attempt to reach as many people as possible, ultimately as many qualified customers as possible would be a better way to look at it.
Was it suggested that “based on previous Labour Day Weekends, there’s not much traffic and therefore I would suggest….” or was it you, the clients choice?
The reality is that absolutely no one can guarantee when the right buyer / customer will arrive / visit.
I’ve had two recent examples that highlight this exact point;
1] after some 6 months on the market, we get 2 offers in one single day….tell me in the books where they say that is they way it happens normally? (no price change activated this either)
2] another large lifestyle property, after near on a year on the market I get a phone call last Friday morning from a customer who wants to have a look through – 3 hours later a different buyer phones and would love to look at the property soon as – I am marketing the property jointly with SImon from our Motueka office, and as I was tied up that afternoon he agreed (with broken leg) to show both buyers around the property….then just as hes about to leave the office the phone rings and its a third person wanting to look. Long story short he had 3 groups view the property at the same time – sort of a mini- Open Home just about. (and in case you’re asking…no….the property price has been static for months, but we have been tweaking the adds)
What I am trying to say is that, you don’t have to look far in late 2009 to see that some elements of the marketing of a property are, ………well, unpredictable.
Has your property been on the market for some months?
In recent months many more purchasers have brought, based on local experience, after visiting an Open Home. In fact most with-in 24-48hrs after visiting it.
Labour Day Weekend may have just brought that buyer to your town?
October 24 2009 | Buyers and General and Sellers and The Market | No Comments »
23rd October 2009
The population of NZ is measured by Statistics New Zealand.
According to them;
There are three population measures commonly produced by Statistics New Zealand: census night population count, census usually resident population count, and estimated resident population.
Statistics NZ today released the latter of those, the estimated residential population in their “Subnational Population Estimates: At 30 June 2009″. National population estimates are published quarterly and subnational population estimates are published annually.
As would be expected it shows differing levels of growth across the nation.
The above graphical representation displays just how sparsely populated our little spot on the globe is, certainly as far as the South Island goes, anyway.
In pointing out the increase Statistics NZ comment that the mitigating factors are “largely due to an increase in New Zealand’s net gain from permanent and long-term migration (from 4,700 in the June 2008 year to 12,500 in the June 2009 year).”
Via their estimated, Nelsons population grew just 340 residents over the past 12 months to record an 0.8% increase upon the previous year.
Tasman, our neighbor, likewise recorded a 350 residents increase to post a very similar 0.7% rise.
Such a reasonable increase has undoubtedly assisted in stabilizing local property prices.
I note they mention Tauranga at 1.6% up, was NZ’s fastest-growing main urban area. I see in the footnotes that there had been a boundary change to that zone to incorporate part of the Kaimai area unit that was originally part of the wider Western Bay of Plenty district. May have had something to do with it.
Full release here.
Full spreadsheet with data tables here.
October 23 2009 | Nelson and New Zealand and Stats / Sales Data | No Comments »
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