House Market

What has happened to the New Zealand Housing Market??

Last year we sold our house in Auckland, I think we were very lucky to sell it.

We held 4 open homes and had a grand total of about 8 people through it in all that time. Now ok I know it only takes 1 person to buy, but still people just weren't looking. So when I look back I realise just how lucky we were.

Some friends down the road from us in Auckland placed their house on the market in October 07 and it is still for sale! Now ok there are a few different factors between our house and theirs. We had more land and didn't sit right on a major junction on a busy road, but still they are having hardly anyone through the open homes!

This morning I was out for an early morning walk and noticed a few houses still for sale here in Hamilton. Now these are houses that I had noticed for sale when we first moved here in October! We are talking different standards of house as well, so nothing is moving very quickly. Yes it is the main summer season at present but just because the kids are on main summer holidays doesn't stop people obtaining houses.

It makes me realise that we were probably never going to have any competition in buying the house we just have purchased, because there is no one out there buying houses.
The lady we have just brought from is probably so happy to have succeeded in selling her house with the way the market is at present.

How is it in the country you live in? Are houses selling or has the market gone very quiet?

House Update

As of 7pm Tuesday night we are conditional on the house we have fallen in love with, well I have fallen in love with, Steve is still on the fence about it.

Anyway we need a Building Inspection and a LIM Report from the local council.

So we have until Thursday 31st January to get both reports and if all is AOK then we will own a house in Hamilton.

I am not worried about the LIM, the only thing to show on that will be that there is no permit for the garage or the veranda, highly unlikely.

It is the building inspection that we are worried about, not that it will show anything, but if anything will halt the buying it will be this.

Building Inspection is on Thursday at 8.30am, we should have the report by Friday morning.

Fingers crossed for us x x

House

We have been casually looking at houses in the surrounding areas. Not so much as to purchase one, more to get a feel for what is there, what people are asking for them and what they eventually sell for.
Stands us in good stead when we do come to buy we will have an idea on the prices in the area etc.

Unfortunately all good laid plans sometimes don't come together and then next thing we are actually placing an offer on a house.

So at this moment in time we are waiting for the vendor to come back on our counter offer that we signed against what she originally signed against our first offer.

One word of advice to anyone in NZ buying a house....Never buy in January over the summer holidays, everyone is away or planning days away etc.
The lady has seen our 2nd offer, and has actually gone to the beach for a day or so, ok she does want to discuss the price with her partner but the Real Estate guy will have to chase her at the beach, 35mins drive away, tomorrow.

In the mean time we can just sit and hope that it goes our way?
And what do we do while we wait, read magazines on new kitchens and designs etc because the house needs a new kitchen put in before we move in.

The joys of buying a house.