Nicky's Neighbourhood

WHAT CAN I DO ABOUT RISING MORTGAGE RATES?

2007-08-07T21:55:00.000+12:00

This little report was written by my mortgage broker, its good advice and I thought I'd share it.

Supplied by Jo Choat of Jo Choat Mortgages

1/3 of fixed rate mortgages are due for renewal in the nest 12 months, understandably there are a lot of worried home owners out there.

Now is the time to have a look at your mortgage and organise your plan for when your fixed rate expires. A couple of things to consider are, look at consolidating your debts. If mortgage interest rates are on the rise so are those other interest rates.

Higher interest rates mean higher payments, if you can afford this increase it is in your best interest to absorb it, if not the alternative of lengthening the term of your mortgage maybe an option, however remember when interest rates go back down don’t reduce the amount of payment. If you receive a pay rise look at putting the extra money toward your payments to reduce the term of the mortgage again.

Reducing your mortgage is always a good idea. Saving in one account and paying interest to a mortgage does not make great financial sense. For example if you are paying a mortgage at 9% interest and assuming your tax bracket is 33 cents in the dollar then you would have to have an investment interest rate of 13.5% just to break even.

Recently in the Herald on Sunday 8th July 2007,Mike Davy of Westpac was quoted as saying that by the end of 2008 the economy would have softened and the RBNZ would begin to ease the official cash rate. Mike’s advise was to fix for up to two years only.

So for any financial mortgage advice give Jo Choat a call. She has 20 years experience, she is an award winner and a property investor herself so speaks from personal knowledge. She has a great personality as well!

Ph : 09 4863224 or Mob: 021476322

Whats happening in the market?

2007-07-23T16:17:00.000+12:00

Its very quiet, very very quiet. The top 2 branches on the Shore are a good reflection of what is happening this month. Milford had 1 sale and Albany had 3 sales last week. With 45 Sales People at Albany you can imagine what the atmosphere is like here.

The sales people who have been around for centuries are describing this market as a "Normal" winter market. Normal meaning before the boom of the last 4 - 5 years.

The thing being there is a shortage of listings at the moment but still a steady flow of buyers, so contrary to popular opinion this is still a good time to sell.

From where I sit the shortage of listings creates more demand, prices still go up....

Current Barfoot & Thompson Listings In Unsworth Heights

2007-07-02T15:28:00.001+12:00

Last Updated 23 July 2007

26 Canary Place - High 700,000's to High 800,000's
Ideal Home and Income
- Click here to view

10 Canary Place - $695,000 to $795,000
This deceptively large 6 double bedroom home with ensuite is set high in a beautiful cul-de-sac offering all the modern comfort of todays lifestyle. Open plan spacious family room leads to state of the art kitchen. Formal dining. Double garage with laundry facilities and internal access. So handy to Massey University and Albany Mega Centre. Easy access to motorway. Move in and enjoy. Properties move fast in this much sought after area of Albany. FOR SALE NOW!!
- Click here to view

7b Barbados Drive - $399,000 - $419,000
A wonderful opportunity for first home buyers or investors. 3 bedrooms, separate toilet and bathroom, new interior painting, new tiles in bathroom, kitchen areas and new carpet. Easy care flat section within easy reach to the motorway, transport, shops and schools. This home is definitely for sale and is a great opportunity not to be missed.
- Click here to view

1/27 Mallard Place - $459,000
Great First Home or Investment
- Click here to view more

3 Rook Place - Early to Mid $600,000's
Brick Beauty for Extended Family
- Click here to view

20 Spoonbill Place - $799,000
Super Modern Family Home - Architectually Designed, 4 Double Bedroom, 2.5 Bathrooms, Separate Lounge and Laundry
- Click here to view

30 Spoonbill Place - Early to High 700,000's
Land and House Package - new home to be built by November
- click here to view

Auckland property steady despite interest rate rises

2007-06-20T14:11:00.000+12:00

As the Reserve Bank moves to raise the Official Cash Rate a further 25 basis points, the latest sales figures from leading Auckland real estate company Barfoot & Thompson show the Auckland property market has yet to feel any impact from the two previous interest rate rises.

Barfoot & Thompson has today released the company’s sales data for May showing buoyant sales volumes and prices, and a significant influx of new listings for the month. Director Peter Thompson says the figures suggest vendors continue to have confidence in the ability of the market to deliver good prices within a reasonable selling time.

Barfoot & Thompson sold more than 1,100 properties during May for an average sale price of $557,546. This was up 4.7% on the April average of $532,482, 8.4% ahead of the average for the first quarter and 16.3% ahead of the same month last year.

Barfoot & Thompson reports settled sales, so many of the sales transacted during May would have been signed up at a time when the March and April movements in the Official Cash Rate would have been fresh in the minds of buyers. Mr Thompson says, “It’s interesting to see such underlying strength in the property market despite the prospect of higher home loan rates.”

“We’ve been consistent in our view that the market will continue to demonstrate an underlying strength and the figures for May continue to support that position. It was particularly pleasing to see more than 1,800 new listings come on stream during the month.”

“Our Property Management division turned in a similarly strong performance in May with the establishment of a new company record for average weekly rent. Average weekly rent for May was $375, up from $361 in April and significantly ahead of the previous record of $367 (March ‘07). A total of 627 houses and units were let during May.”

Investors/First Home Buyers

2007-06-12T18:43:00.000+12:00

This funky apartment in Albany has everything the Investor, Student, Batchelor, Batchelorette or First Home Buyer, wants or needs - literally at their door step!

• Massey University down the road
• 2 bedrooms
• 1 car park
• Deck area
• Close to motorway access
• Close to all Bays beaches
• Close to cafes and bars
• Close to the new Albany Mega Centre
• Close to schools
• Adjacent units returning $290 per week

Price:
$285,000

Please click here to view the complete photo gallery and details of this property.

Phone me now to view 0275 365971

Barfoot&Thompson
MREINZ

Preparing Your Home for a Sure Sale

2007-06-03T10:01:00.000+12:00

I have always found that some homes simply sell more quickly and easily than others. The reasons often have nothing to do with the price or the neighbourhood and everything to do with human nature.
Here is the secret: You don't get a second chance to make a first impression.

So what have I learned works best?

Kitchens
Stove, refrigerator and sink should be spotless, all work spaces should be clean.

Bathrooms
Neat, spotless and fresh. Repair any broken tiles, reseal around bath and basin, if necessary.

Wardrobes and Cupboards
Have a good clean out - untidy or overly crowded storage areas suggest inadequate space.

Children and pets
Children and pets can distract buyers from thinking positively. Keep them secluded or out of the house, if possible, at times when the house is being inspected by prospective buyers.

Lawns and Yards
Remove clutter, cut grass, edge paths, trim hedges, weed gardens.

Front of House
Paint fix or wash fences, steps, windows, screens and front door.

Other Exterior
Paint, fix or wash side or back door, gutters, wash windows.

Garage
Straighten up, paint, fix or wash doors and windows.

Plumbing
Repair dripping taps, leaky toilets.

Lights
Replace all burned out bulbs, faulty switches.

Halls and Stairs
Remove clutter to give a wide appearance.

Hardware
Oil hinges, tighten doorknobs and taps.

General Condition
Dust, wash, paint, fix defects.

Create a feeling of spaciousness
Store unnecessary items to enlarge room size. Open curtains in daytime, close at night. Turn on sufficient lights when showing. Spray with scented disinfectant especially if smokers live in the house, or put percolated coffee on before buyers arrive.

In Winter
If you have heating, use it when showing.

NICKY'S SELLING SECRETS:

The Real Estate Salesperson needs to have as much privacy as possible when showing your home. People are often reluctant to hurt your feelings but will offer honest feedback to an salesperson. This helps us work professionally with genuine buyers and will help your home sell more quickly.

If the buyer asks you questions about your home and neighbourhood, answer directly and honestly.

Questions about an offer or price should be referred to your salesperson.

Security I recommend you use Barfoot and Thompson's Lockbox system is able to provide your property with the greatest possible protection against unauthorised entry - and its always accessible, with your permission, to a Barfoot and Thompson salesperson accompanying prospective buyers - this makes the selling process more convenient for you and motivated buyers.

Auckland property market takes a breather during April

2007-05-31T13:32:00.000+12:00

April was a quieter month for the Auckland property according to the latest sales figures from leading Auckland real estate company Barfoot & Thompson.

The average sale price eased by almost 6 per cent, from a high of $564,162 in March to $532,482 in April, although this is still well ahead of both January and February. Total sales for the month (899) were ahead of the same month last year.

Director, Peter Thompson, believes the result is a combination of public holidays, school holidays and interest rate speculation.

“Holidays tend to disrupt the sales cycle. We had Easter, Anzac Day and two weeks of school holidays during the month, as well as a considerable level of anticipation about the recent Official Cash Rate announcement which probably led to a certain level of caution amongst buyers.”

However, Mr Thompson says total weekly sales for the company remained ahead of the same week last year, as they have for every week of 2007 to date.

On the property management front, April is traditionally a quieter month and this year was no different. 548 houses and units were let during April for an average weekly rent of $361. This compares to $338 for the same month last year.

Welcome to the neighbourhood!

2007-04-11T16:26:00.000+12:00

Hi, I am Nicky Stuart and I work in the Albany office of Barfoot and Thompson. I have been selling Real Estate for 4 years as a Buyers Agent and from February 2007 have decided to go it alone.

I am going to update this site weekly with my current listings and anything I find interesting about the market.

I hope you enjoy reading it.