Competing with Agents.

[McDuck]

Yesterday I took a look at a few houses.
I was struck by the different market atmosphere when compared to a year or so ago.
Back then it was a feeding frenzy, everything happened simultaneously.
On several occasions I found houses just about to be put on the market, only to have them snatched out from under me by Real Estate agents, promising to get the sellers prices a least one third above what was an achievable.
Of course the prices were never achieved, but the agents still got their cut.
I was thinking back , and wondering how much that sort of behavior contributed to house price inflation.
Anyway. it's a more pleasant pace these days.
Much more civilized.

[donna]

Thanks for the feedback McDuck.

I am closely watching a house for sale in my street. It was purchased 3 months ago and the investor did a cosmetic job on it and put it back on the market for $60K more.

The property has been on the market now for 4 weeks - and in my area that is a very long time. There is a shortage of properties in its price range too so in a more buoyant market it would have been snapped up even with the increased price tag.

Cheers,

Donna

[Dean@Massiveaction]

In East Auckland it's rapidly becoming pick any property and negotiate hard. There's heaps of stuff starting to sit around. Higher end properties are still moving but anything in the 300 to 500K range aint selling. Plenty of for rent signs as well. It's all too exciting

[Heg]

The North Shore seems to be slowing down (unless you listen to the agents of course!! )
Some agents are still overpricing, especially at the top end of the market and a lot of stuff has been sitting around for a while.