I know there are a few people out there looking to buy cheap realestate this year.
My advice is to actively persue the mortgagee sales because there is a lot of truth in what this lady reports. Sure prices in good suburbs may ease off a bit but if you wait too long then our newly aquired inflation will soon take care of that.
If you are really keen, get yourself in a position to bid on the day or at least present good clean offers at low prices. Make deals that you are happy with today rather than hoping for something better in the future.
With the rising transport costs, location will be everything, (actually always has been)
New Zealanders will still love property after this cycle finishes.
Getting rid of the visionless Clark and her cronies will be a big start and a rugby world cup in 2011 will have this place jumping.
May 21 in history
37 minutes ago
11 comments:
Hence why I purchased in Kingsland (2 bedroom brick unit for $260k) last year.
This downturn is only temporary, landsupply in the central area is constrained due to geographic reasons, its a $10 taxi to the CBD, and the world cups coming up (5 mins walk away)
sure the markets down at the moment, but I don't give it long for this area to go up in price heaps.
That's it guys, capitalise on other people's (and the community in general's) misfortune. Way to go. And pin your hopes on a World Cup that is going be an infrastructural nightmare, which the All Blacks will not win, and which has nothing to do with any vision of what New Zealand's future should be. Sheesh. And you talk about this government's lack of vision - about which you are, as it happens, correct; it's your own vision that you need to take a look at.
(And some people think I'm a right-winger! :)
So Wake Up are you expecting further price drops?
True, the country has no vision.
But at least we are seeing some movement towards affordable housing.
Pity it had to come this way rather than through rising incomes or rising housing supply.
But if MikeE is happy with his unit in Kingsland and it meets his needs for work, social life, etc, then good on him.
It is better than wasting money on rent.
pdq
Thanks wake up
Mortgagee sales are a fact of life, always will be as there will always be a few people that stuff up. I feel sorry for them but its called a market.
As a % it is very low and the other 99% of the market will go up and down on what peoples perceptions are and frankly in a small country the world cup will have a huge influence on our enthusiasm as a nation. A smart government will build our confidence on the back of that. After the sick joke of a government we have been through for the last 9 years then I reckon it is a bloody good place to start.
A as long as our country wins from the experience the same way as Sydney benefited from the Olympics then I will be happy for the best team to win on the day. Even better if its the ABs
And mikee
well done, you made a good decision based on what the market was telling you. You will undoubtably eventually retire as a happy man who made wise choices.
Er, wake up, maybe you can afford to pay over the odds for a property because you fell sorry for him, but that just transfers his loss to you. If a seller HAS to sell (new job in a different town), then they'll buy "cheap" in the new town anyways.
There will be lots of property bargains in Wellington in the new year.
lots and lots and lots!
RWC will have AKL jumping? Yeah.
And bacon flies.
I think the RWC will be bring chaos to Auckland too.
But that ain't the point.
The point is that the downturn will creat opportunities for people to buy property.
Thos who have been wise and have little debt and can service a mortgage will be fine.
Of course, it might seem harsh taking advantage of people in trouble, but without people doing so, the sellers' situations would be even worse.
A decent downturn is my only home of getting something.
All I need is a fulltime job to satisfy a bank that I can pay a mortgage.
Though I always manage to pay the already excessive, near-mortgage level rent.
fairfacts
The RWC may bring choas to Auckland but let it be joyous choas.
My advice to you, get the job you're always talking about and strouge the mortgagee sales until you find what you want. Don't miss the boat and be writing on here in 2 years time about missed opportunities.
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