The Block NZ

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dclegg

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#682692 7-Sep-2012 09:45

joker97: Which suburb is your house?

Te Atatu Peninsula, which is seeing very strong demand at the moment. Its got a great community vibe, and because its a peninsula, we don't get any through traffic during those busy commute periods.

I know school zoning comes into play a lot with the Auckland real estate market, but I still think the price Libby and Ben's house went for was excessive. I would've also expected to see a lot more parity between all four auction results.

Skolink

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#682700 7-Sep-2012 10:14

What I've been wondering about is, how were the reserve values set, considering that the contestants only get the money in excess of reserve? I guess Eyeworks just set them as high as the thought they could get away with.
I'd be gutted with nothing to show for 9 weeks of hard slog (other than a small consideration for appearing in Woman's Day and Kiwibank ads), but I guess they knew that was a possibility from the beginning.
It ceratainly strengthened my resolve not to buy our next house at auction.

dclegg

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#682702 7-Sep-2012 10:18

Skolink: What I've been wondering about is, how were the reserve values set, considering that the contestants only get the money in excess of reserve? I guess Eyeworks just set them as high as the thought they could get away with.

I don't recall the exact amounts, but all the reserves were within a few thousand dollars of each other, which is what I'd expect for such similar houses. From there, that old chestnut "The Market" determined what the houses were actually worth on the day. I just found it surprising that buyers varied so much between between the four.

It would've been interesting to see what happened if each auction were held on a different day. In the interests of consistency, I'd have also liked to see the same auctioneer being used for each sale.

Batman

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#682709 7-Sep-2012 10:35

a couple of points

1) after having watching a few the blocks in Oz, the better thing to do is to NOT accept a bid at or 5k above the reserve ... it is better to pass in the auction just below the reserve and negotiate a fair price to a wider market (who don't have 850k cash in hand)

2) being the amazing characters they are i think the public feel worse than rach and ty - those who were actually entertained week in week out by these guys who gave 9 weeks of their lives and more, for less than a cent

Tockly

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#682724 7-Sep-2012 11:09

Do they get to keep the Mazda BT50's?

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