Last night marked the moment of truth for the marketing of 42/44 Spencer Road.
After 4 weeks on the market, with over 50 groups visiting the open homes it was time to auction the property. On Saturday last, a pre auction offer was made at $930,000, tempting to say the least. An offer that is close to the mark is always hard to resist. But with  half a dozen bidders patiently waiting for the auction on Wednesday the owner decided to wait. A nerve racking few days for sure but worth it in the end.
A number of buyers had contacted my recommended builders, Jennian Homes and finance brokers Edge Mortgages and many had visited the council investigating the property, so I knew we had serious parties.
Rob Tulp, an auctioneer with experience in both Australia and New Zealand led the auction. bidding started at $600,000, and the six bidders pushed the price beyond the sellers expectation to $1,050,000. This was a terrific result!
Afterward the Mumm was uncorked and an ecstatic owner gave me many hugs and kisses. Off to a restaurant for dinner!

Commenting in the latest Harcourts MarketWatch newsletter Bryan Thomson Harcourts CEO says that the volume of written sales in Auckland  was a significant 78% ahead of August 2008 and in addition the average sale price was up 11% on the same month last year. Part of the reason for this is Harcourts significant expansion, especially on the North Shore, but sales activity is very strong. Developers seem to be back in the market with a 1800m2 subdividable site in Forrest Hill attracting significant interest, and selling under the hammer for $1,200,000.

Here are our auction results: [Read more →]

It’s just people needing a home to live in. Trying to get to grips with where the property market is going is really difficult, and it really does depend on who you are talking to. Commentators all have their viewpoint while Real Estate salespeople at the sharp end know that right now, sellers have an advantage that they have not had for nearly two years. Buyers have arrived back in the market and they need homes to live in. [Read more →]

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Image: sqremixx

Harcourts Cooper and Co conducted 11 auctions on the weekend, 7 sold unconditionally, 2 have contracts, 1 was withdrawn prior to sale day and 1 remains on the market, a stunning result! Here’s the numbers:

[Read more →]