Sign of the times...

[TheLiberalLeft]

I get TradeMe to email me the listings meeting my criteria - in this case places on the Shore.

Of the 18 listings emailed this morning, 15 are either auction or by negotiation. The 3 with a price all look like they might have a problem of one sort or another so you wonder whether the vendor just wants out.

Anything even remotely interesting is an auction. I hate auctions.

[Glizzle]

Too many many in the pool with more money then they think they can afford.I also hate auctions.

[jimO]

i watch a programme on skyliving chanel called homes under the hammer, it seems that in Pomgolia only dumps and problem houses are auctioned

[speights boy]

^ Protects against gazundering in the Land of gazumbing I guess.

[Ahar]

i watch a programme on skyliving chanel called homes under the hammer, it seems that in Pomgolia only dumps and problem houses are auctioned

I watch that programme too.......and cry........with frustration

Can you believe it.....houses are affordable and opportunities abound.........that's abundantly abounding opportunities

Lucky sods....you can still make serious dosh in Pommie land

[Toasty]

I love "Homes under the Hammer". Its so much easier restoring houses when you do it in montage or time lapse....

[TheLiberalLeft]

Even Rocky had a montage, Toasty.

[Glizzle]

Even Rocky had a montage, Toasty.

You mean invented

[Bulldog]

I notice even private sellers are getting in on the action. Most now say "PBN". Even more ridiculous are the banners that say "PRICE REDUCED" then "PBN". I hope listings improve in the summer, prices are getting a bit ridiculous, prices for 2 Br units in Auckland seem higher than during the property boom.

[Roberto9]

I watch that programme too.......and cry........with frustration

Can you believe it.....houses are affordable and opportunities abound.........that's abundantly abounding opportunities

Lucky sods....you can still make serious dosh in Pommie land

you can still make serious dosh right here in Kiwi land, if you know what you're doing.

[Shane D]

i watch a programme on skyliving chanel called homes under the hammer, it seems that in Pomgolia only dumps and problem houses are auctioned

jimo

"Pomgolia"...that's a new one on me. I am guessing that means UK?

Shane

[eri]

https://www.google.com/search?hl=en&q=Pomgolia&meta=

https://www.google.com/search?hl=en&q=Pomgolia&meta=#hl=en&safe=off&sclient=psy-ab&q=kiwistan&oq=kiwistan&gs_l=serp.3..0.25124.27195.0.27570.8.8.0.0.0.0.97.698.8.8.0.les%3B..0.0...1c.1.9F40-7tZhlU&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&fp=b5086e0a7140d6a7&biw=1280&bih=939

[Davo36]

TLL, I sympathise with you.

I also have TradeMe send me an email once a week with a list of commercial properties that have come on the market. And they're basically all without prices too.

And the ones that do have prices, are very expensive and usually vacant. So I hardly read them these days. Just nothing much out there to buy at the moment and I'm not prepared to buy at stupidly low returns.

All this is a result of 2 things I reckon:

1) Supply and demand. There's basically more people wanting to by than there are selling at the moment. This creates a seller's market, which allows them to muck around purchases, making them come up with offers etc.

2) Agents love auctions and successfully tap into seller's greed. Out of the 3 parties in a sale (agent, buyer, seller), it's the agents who do best out of auctions, they love them. And they can push them because of point 1) above and because sellers are very keen on the idea of getting a bit more from some over eager buyer than they would if they listed with a price. Agents tap into this very successfully.


What it all adds up to a shit buying environment. And it's been this way for years.

[ENP]

What it all adds up to a shit buying environment. And it's been this way for years.

In that situation as an investor, do you just wait?

Or do you lower your standards/criteria for buying?

[eri]

just like marriage

you get what you settle for

and if nothing is good enough for you

you get nothing