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  1. #461
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    Is that good tactic topagent re forcing an auction forward?. My friend put his best offer on a house and the auction was brought forward.It had only been listed a short while so hardly anyone else got to look at it.Only one other contender who pulled out because s/he didn't have enough time to do due diligence. So my friend scored the house quickly without any comp but i guess he may wonder if he paid to much. But he'd been looking and bidding a few months previously and was fatigued and running out of time to buy and shift his business into the basement.
    Last edited by Joshuatree; 02-08-2017 at 09:01 PM.

  2. #462
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    Every situation is different and alot of it depends on the appraisal we did before marketing also the level of inquiry ect. In some cases we recieve a pre offer but have huge interest and the vendor will wait in other cases we may have little traction and the offer is at a good level that the owner is happy to sell. Here in Hamilton our firm brings it forward so bidding starts at the accepted level. I've had many auctions end up selling to someone other than the original bidder.

  3. #463
    Speedy Az winner69's Avatar
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    Funny as REINZ blaming the LVR rules in making life hard for them .....incomes down big time I reckon
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #464
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by winner69 View Post
    Funny as REINZ blaming the LVR rules in making life hard for them .....incomes down big time I reckon
    Of course REINZ poor kiwis not being able to tick themselves to the eyeballs.... (less sales less FAT commissions) ...If REINZ had their way it would be 95% LVR ...

    Always laugh at the many emails I receive from local R.E agents ...(which you get hammered with if you dare ask a Question online on a property they have listed next you're email bombed )

    I love the likes of Invercargill where Property is flat and isn't even reached the same prices it had back at its peak in the 2000's ....then you get R.E talking utter BS like -http://www.stuff.co.nz/national/92427656/southland-property-market-starved-for-listings

    yet go to RE nz and Invercargill has about the same amount of listings as dunedin a city more than twice the size ...friends in Invers have taken their fully renovated home asking only 230k off the market after 6 months of nil interest sounds like the same right across the city ....got a few on my watchlist I was looking at as investments etc ....still there
    Last edited by JBmurc; 12-08-2017 at 10:12 AM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  5. #465
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    So this just in.
    https://www.newsroom.co.nz/2017/08/1...r-another-boom

    BEnglish wants to do away with macro prudential controls such as the LVR and no to a DTI. Well colour me impressed with the RE industry. You really know how to keep people in generation rent in their place don't you? Some top notch lobbing there you army of property flipping crooks. I can almost see a hand puppet with a Bailey's blazer up BEnglish's back side playing him like the muppet he is.

    When not if - when this all goes tits up, as over extended over priced housing hits the wall in the next few years we can point to this moment when RBNZ Wheeler washed his hands took the golden parachute said "Thanks gents - no one listened to me on LVRs or DTIs - so I'm off to take some snooze in Rarotonga, and call it retirement."

    So the housing bubble will continue to scream on until... the interest rate hike and market forces will kill it.

  6. #466
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    Immigration gives the appearance of a good economy (desptite productivity stagnation) and booming house prices pleases the National Party support base. As for the mushrooming property debt, when the next move for interest rates is probably upwards...is that a problem for another day?

    I would have thought that the first sign of flattening property market should be relief and not result in trying to encourage even more housing debt. The fact that first home buyers find it difficult to enter the market is the result of years of inaction from the government. Yet, the Reserve Bank is being scape-goated?

  7. #467
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    Quote Originally Posted by Bjauck View Post
    Immigration gives the appearance of a good economy (desptite productivity stagnation) and booming house prices pleases the National Party support base. As for the mushrooming property debt, when the next move for interest rates is probably upwards...is that a problem for another day?

    I would have thought that the first sign of flattening property market should be relief and not result in trying to encourage even more housing debt. The fact that first home buyers find it difficult to enter the market is the result of years of inaction from the government. Yet, the Reserve Bank is being scape-goated?
    None of this should be surprising.. National are looking after their rich-listing mates which means doing as much as possible to keep business ticking over and not addressing real social issues. Seems like the answer in 2008 was to open the doors to more Immigrants. But the unintended consequence was to pump up the housing market and place huge demand on infrastructure in our biggest city. Given any real option would mean hurting the wealthy, negative geared supporters with major investment in property. National turned to Nick Smith to deflect blame and look busy with no real results...

    Honestly National pend to care about middle and low income New Zealand but its all an act. And helping First Home Buyers into a 650K Loan with 10% deposite in a world primed to raise interest rates is a really really terrible idea.

    Hence the Reserve Bank of New Zealand Stepped in to to protect investors and First Home Buyers for over extending themselves and getting themselfs into real hardship in the coming years..

  8. #468
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    Guys you've described that better then I've been attempting to on the political threads, thank you. Feel free to put them there and if you don't get around it is it acceptable for me to? no prob if not cheers JT

  9. #469
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    Hence the Reserve Bank of New Zealand Stepped in to to protect investors and First Home Buyers for over extending themselves and getting themselfs into real hardship in the coming years..
    Not quite. The RBNZ don't have any mandate to protect investors - first home buyers? maybe - but they do have a function in ensuring a sound financial system. That's their objective in applying lending restrictions.

  10. #470
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    Quote Originally Posted by NeverQuestion View Post
    None of this should be surprising.. National are looking after their rich-listing mates which means doing as much as possible to keep business ticking over and not addressing real social issues. Seems like the answer in 2008 was to open the doors to more Immigrants. But the unintended consequence was to pump up the housing market and place huge demand on infrastructure in our biggest city. Given any real option would mean hurting the wealthy, negative geared supporters with major investment in property. National turned to Nick Smith to deflect blame and look busy with no real results...

    Honestly National pend to care about middle and low income New Zealand but its all an act. And helping First Home Buyers into a 650K Loan with 10% deposite in a world primed to raise interest rates is a really really terrible idea.

    Hence the Reserve Bank of New Zealand Stepped in to to protect investors and First Home Buyers for over extending themselves and getting themselfs into real hardship in the coming years..
    I think the RBNZ stepped in to protect the banks from the banks , to avoid a GFC like crisis/run on the banks here in the event of a property collapse .
    Maybe have a read of "The bank that broke the bank " a good story around Westpac after the 1987 sharemarket crash , some good KP stories in there as well when he took 10 % of the company and tried to clean it up , sack masses of staff .......

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