Real estate, post level 4

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#2855234 23-Jan-2022 17:28

kingdragonfly: The lure of riches brings out some dubious sellers.

I've previously noticed several houses sold "sight unseen", being dumped by the bank, where no one was allowed to enter the house, not even the real estate agent.

This Trademe ad has only this text: "Flat Corner Section for sale in Bell Block. This is a good opportunity to build your dream home in prime location. Call or email me today."

I put the address into the New Plymouth proposed district plan

Most of the property was an archaeological site, and classified as a Māori site of cultural significance.

When I emailed the owner, here's his complete response:

"Hi
Thank you for your inquiry.
For this matter, please contact NPDC directly.
Kind regards"

That seems a reasonable response.

There's no reason why you shouldn't build on the site given in your post. Half of London sits atop a huge variety of interesting archeology. It gets recorded then covered over and built on. Same in most European countries.

No doubt NPDC would provide the required advice.

Goosey

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#2855269 23-Jan-2022 21:43

I was at an open home today. havent been to one for 8 years. my my things have changed.

The attendant (well real estate agent), pretty much stood there playing on their phone, saying hello to the people.

That was it. Im guessing they dont care about trying to get business... as long as they have a few keen people turn up to auction thats it.

That attitude gonna be painful if an when the market decides to cool down......

No effort to make people sign his book, scan the tracer code or ask for vax pass. (even though the listing specifically said everyone needed to).

Even the answers to some peoples questions were vauge... (i had already read the files)....and the verbal response to questions didnt even get close to a hint of what was in their published files let alone tell people the files are all available.

Lets just say the town im in has a "shaky" past.

quickymart

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#2855300 23-Jan-2022 23:50

How many people turned up?
I recall visiting open homes with a relative in the 1990s who was in real estate then - he would be there 2 hours sometimes and 0 people would come through the door.

These days it's far too easy to be an agent, way more buyers than properties, a complete reversal of the 90s!

irpegg

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#2855329 24-Jan-2022 09:29

Goosey:

Even the answers to some peoples questions were vauge... (i had already read the files)....and the verbal response to questions didnt even get close to a hint of what was in their published files let alone tell people the files are all available.

REA refuses to answer anything now due to liability. They will just say I don't know to everything or say that will be in the LIM. They are literally just a supervisor to point out the obvious like "Great north-facing window". I wish private sales were more common because the owners will be very upfront about a lot of stuff and actually gives you real experience on the area.

Goosey

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#2855863 24-Jan-2022 20:35

quickymart:
How many people turned up?
I recall visiting open homes with a relative in the 1990s who was in real estate then - he would be there 2 hours sometimes and 0 people would come through the door.

These days it's far too easy to be an agent, way more buyers than properties, a complete reversal of the 90s!

I wouldn’t say heaps but a good stream of about 4-5 people comming and going…maybe saw about 12 different people in the half hour I was there.

Spoke to someone else who was at the same place the week prior and they told me the agent had trouble finding which door the hot water cupboard was behind…..

We get the impression they were just there for the looks and pay check.
Feel sorry for the vendors

Edit. The cylinder cupboard was behind the only door in the hallway which wasn’t a bed or bath room. Apart from that there was a laundry and an open plan lounge/kitchen.

quickymart

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#2855930 25-Jan-2022 08:21

https://www.oneroof.co.nz/news/40789

I dunno, in 2020 they said with the first lockdown "oh, house prices will fall 20%!", except they rose 25%. So, I'll be interested to see what happens this time around, since we're all a bit more "used to" coronavirus now.

Handle9

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#2855937 25-Jan-2022 08:44

quickymart:
https://www.oneroof.co.nz/news/40789

I dunno, in 2020 they said with the first lockdown "oh, house prices will fall 20%!", except they rose 25%. So, I'll be interested to see what happens this time around, since we're all a bit more "used to" coronavirus now.

Asset prices did collapse for about 3 months. That was when Nz was locked down.

Economic indicators are pretty volatile now. The markets are down and inflation is fairly high, with many people unable to borrow due to the new regulations. It’ll probably bounce around for a bit now but once the banks start lending again there’s the possibility of it taking off again.

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kingdragonfly

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#2856505 26-Jan-2022 10:36

Too bad we can't be as well-organizaed as the hermit crab. (*≧▽≦)

"Liberté, égalité, fraternité"

Geektastic

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#2856554 26-Jan-2022 11:53

kingdragonfly: Too bad we can't be as well-organizaed as the hermit crab. (*≧▽≦)

"Liberté, égalité, fraternité"

Ages since I saw one of those - used to return to my father with them in bucket when wandering the rock pools etc as a child, as proud as if I had discovered a new form of life rather than a very common crab!

OOI do we have crabs in NZ? I never see them in the fish counters or even in tins.

quickymart

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#2856566 26-Jan-2022 12:02

https://www.nzherald.co.nz/business/meaningful-drop-conditions-in-housing-market-could-be-ripe-for-prices-to-fall/4ECWQZCLW72I5NN3S2YV2BPA6A/ (paywalled)

Wouldn't this be nice, for first home buyers? :)

tieke

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#2856585 26-Jan-2022 12:35

Goosey:

Spoke to someone else who was at the same place the week prior and they told me the agent had trouble finding which door the hot water cupboard was behind…..

We get the impression they were just there for the looks and pay check.

It's pretty standard for the real estate agents at open homes to be deliberately chosen because they know nothing. As irpegg mentioned, Real Estate Agents are extremely aware of liabilities, and the laws that state REA must disclose anything negative they know about the sale if asked. This sounds like a good thing, but in practice that means that they simply try to avoid learning anything at all about the house.

For open homes, if the main agent is aware of a number of issues with the house, they will simply get another agent to do the open home - almost always when pressed for details I found that the agent giving the open home would state they didn't know details as they were just standing in for the listing agent.

tdgeek

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#2856586 26-Jan-2022 12:36

quickymart:

https://www.nzherald.co.nz/business/meaningful-drop-conditions-in-housing-market-could-be-ripe-for-prices-to-fall/4ECWQZCLW72I5NN3S2YV2BPA6A/ (paywalled)

Wouldn't this be nice, for first home buyers? :)

Not sure. House drop by 5% for example, but interest rates are predicted/guessed to be 6% next year, so the vast majority of a new mortgage (which is interest) will go up a lot

quickymart

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#2856736 26-Jan-2022 16:19

Mmm good point, and prices are still far too high anyway. 5% sounds great but if it's 5% of a million dollars, it's not going to much bugger all difference really.

mattwnz

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#2856751 26-Jan-2022 16:58

I am already seeing asking prices being dropped. Even some failing to sell at tender, with a cash asking price being put on them. Sales have dried up for some houses. Although large higher priced houses seem to be selling.

MikeAqua

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#2857039 27-Jan-2022 10:25

Geektastic:

OOI do we have crabs in NZ? I never see them in the fish counters or even in tins.

Yep we have paddle crabs on lots of surf beaches which are quite edible. Quite nice but not much meat per crab. Easy to catch with a pot, lift ring or drag net.

We also have king crabs which live at about 2,000m and deeper. Not really something you can catch recreationally.

I'm not aware of any other edible species, but lots of other species in general.

We also have hermit crabs (ocean and estuary species). At one of my favourite kayak fishing spots, the snapper are full of hermit crabs (sans shell) and little mud crabs. I've found a soft-bait that snapper think is a hermit crab. At dawn on spring tide, I usually get my bag in about 20 minutes (takes longer to paddle there than to catch the fish).

Mike

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