Local Property Update
With Mike Pero Real Estate Millwater
As we head into the second half of the year, I find myself reflecting on the last four months since my leap of faith into real estate business ownership, and I can confidently say it’s been a fantastic ride so far. The real estate market has certainly changed and I remain very grateful for the team I have by my side. Thank you to Max Zhang and Mark Garratt who are invaluable members of Team Millwater!
Looking at the local property market, it’s neither good nor bad, the glass is neither full nor empty, it’s just how you look at it and prepare for it. The cooling housing market means opportunity for some and stress for others. There has certainly been some change this year and with this change comes definite opportunity for both buyers and sellers. Well presented, well priced homes continue to sell but the full-throttle ‘pedal to the metal’ price rises of 2021 have definitely eased.
The reality is this: if you are thinking about purchasing in Millwater at any stage in the future, now is the time to do it. Try keeping things in perspective and see the wood for the trees. Yes, house prices have shifted downward and there are additional pressures on the market such as interest rates and the CCCFA, but as long as your intention is not to flip the house in the short term the market will catch up. Such is the lifecycle of the New Zealand property market.
Try not to let the media hype of a property crash lead you to make poor decisions that could mean you miss out on something you really want. If you can’t find what you want on the market now, chances are you are looking for something that doesn’t exist, or possibly is so sought after it will always be in strong demand.
If you’re wanting to buy in Millwater and don’t have an unlimited budget, you are better served focusing on the fundamentals of real estate: location, orientation and size. Don’t worry about curtains, tiles, kitchens and bathrooms that you may not love. Ask yourself: Is it in the right area? Can the kids walk to school? Does it get great sun? Smart buyers are out there buying right now. They are buying houses with good fundamentals and investing their significant savings in changing the things that they don’t like.
There is some talk about Auckland suffering no shortage of housing within the next 18 months. This will be based not just on the population decline and brain drain, but also a boom of close to 21,000 consents over the past year compared to less than 4,000 ten years ago. Construction of new homes are slowly filling in the gaps.
For those of you thinking about selling or currently trying to, the focus needs to be on what you are going to do next, rather than fixating on the potential value of your current home. The ultimate sale price on your property may be lower than you expected, but it will put you in a strong cash position and the cost of your next place will most likely be much lower than you would have paid six months to a year ago. Overall, you have a win and get to move on.
If you would like a better understanding of how this all may impact on you, we would love to hear from you. We are always happy to chat through current and future plans and maybe offer some advice and differing viewpoints.
021 614 771
About Mike Pero Real Estate Millwater
Vanessa Jardim is the new franchise owner of Mike Pero Real Estate Millwater.
Vanessa has worked with Grayson and Sarah for seven years as their client services manager and a licensed salesperson.
The sale to Vanessa is seen as a seamless way of ensuring strong business continuity for past, present and future clients. Vanessa joined the company in 2015 as a licensed real estate salesperson and in 2019 took on the client services manager role. Turning her focus to managing the business, Vanessa will put her efforts into building a new team and pursuing some exciting projects for the franchise.
Mike Pero Millwater is a successful real estate franchise covering Long Bay, Okura, Weiti Bay, Stillwater, Milldale, Wainui and Ara Hills. With a grand opening of the first office in 2015, this business has been a staple of the Millwater community and will continue to serve its clients with integrity.
Contact Vanessa at Mike Pero Real Estate Millwater for more information on residential sales in the Millwater area.
Local Property Update
with Mike Pero Real Estate Orewa
Welcome to my latest monthly Property Talk – a chance to share some general knowledge about the property market in our local area.
There is a lot of chatter throughout New Zealand surrounding the housing market and what is to come. However, here in Orewa we are holding steady. The market saturation in Rodney is staying relatively level (1,496 listings in early April and currently 1,517 for early May), and the median house price is also holding – $1,548,000 for April compared to $1,351,000 in March.
Last month we mentioned the increase in the OCR, and it will be a time before we see the impacts of this change by the Reserve Bank. At the time of writing we are expecting another increase on 25 May.
We are seeing a little more time taken in the actions of buyers and an increase in days to sell, but with an active agent on your side the market isn’t as doom and gloom as it may appear in some media. If you are looking to sell, understanding where your property sits as it is presented to potential buyers is vital, which is where an effective agent comes in. The success of auctions is falling, however, a great campaign may still include an auction and be successful. It is all about navigating and understanding your niches and targets.
At this point in time, if you’re looking to sell, it is imperative that you have an agent that is well-versed in the market and can position you and your property to sell. This includes a current and very precise marketing scheme that will put your property at the forefront of buyers’ minds. It is important for the success of your sale that you choose timing, positioning and planning with accuracy. I can assure you that the market is ever changing, and the most successful teams in real estate are the ones who can change with it.
021 215 9718
About Mike Pero Real Estate Orewa
We are highly professional specialists with extensive experience marketing homes in Orewa, Red Beach, Puhoi, Wainui and the surrounding suburbs. We know these areas like the back of our hands and commit to deliver more, go further and operate with the highest integrity.
I love helping my clients achieve their real estate dreams. I put my comprehensive knowledge of the local real estate market, providing them with accurate data on relevant market trends, and giving honest assessments on the value of their property.
I fully utilise my strong negotiation skills for the benefit of my clients in getting them the best deal possible. My substantial career experience in negotiating complex deals with multinational companies, is brought to my role in real estate to ensure my clients get their desired outcome.
I find that success in residential real estate is all about client satisfaction. A key skill to achieving this is my determination to ensure clients are kept fully informed throughout the process.
Contact us at Mike Pero Real Estate Orewa for more information on residential sales in the Orewa area.