Homesells Predicts ‘Govember’ For Real Estate
Monday 3 November, 2008
Homesells Predicts November Will Be ‘Govember’ For Real Estate
November is likely to be busy for the residential property market, as homeowners who have been in wait-and-see-mode for the last seven months start to move.
“We’re listening to both buyers and sellers who have felt the frustrations from the last few months of uncertainty tell us they’re ready to unleash,” says director of HomeSell, Kirsty Gillespie.
“Property prices are more affordable than they have been for many years and a decline in interest rates has made it an attractive time to buy for those with a good deposit and good incomes. Some investors are having difficulty borrowing the amounts they need for large scale investment which is also good news for the ordinary home buyer.”
Gillespie cites three other reasons why the pre-Christmas weeks will be picking up momentum after a lack-lustre year.
“The general election, which traditionally has homeowners holding off on major decisions, will be over. We’ll also have parents whose children may have missed out on the high school of choice endeavour to move into the desired zone. And lastly, low share prices and world economy fears often result in people investing in the traditional trusted ‘solid’ purchase of bricks and mortar,” says Gillespie.
She says the recent slowdown in the real estate market has served to increase HomeSell’s activity.
“We have picked up a lot of business from home owners who have been unsuccessful in selling through real estate agents; this wasn’t noticeable on a large scale before.
“In the current market, many agents will pressure clients to drop their price to attract buyers, but owners are saying that they’d rather sell the home themselves, than accept a lower price and also pay commission.”
By selling privately people have far more room to negotiate with their buyers than by using an agent. “They can potentially price their homes slightly more competitively than an agent to achieve a quicker sale,”says Gillespie.
Homesell is the longest running private real estate company in New Zealand with franchises throughout the country. The company has marketed over 7500 homes around New Zealand since 2002. It arranges for homeowners to sell properties without having to pay a real estate commission.