Ground Hog Day
Here we go again, Level 4!
While the Covid-19 Level 4 restrictions certainly put a dampener on being able view properties in person, you can still do some research and get a feel for the market either as a buyer or as a seller.
The market is still hot, and high prices are still being achieved. What I’m seeing is buyers are shopping at three distinct price points - entry-level of under $2m, mid-level at under $3m and then over $3m there is less restriction, they might go up to $4m or $5m.
I’m getting a lot of inquiries for beachfront, people with that money are very discerning, they're waiting for the right thing. So if you have an Omaha beachfront and are pondering selling, please do give me a call.
Some of the buyers are so frustrated, they’re looking a bit further north. I’ve listed waterfront land in Mangawhai Point. It’s still only 90 minutes from Auckland.
But the demand is still strong for Omaha given its close proximity to Auckland and the easy commute back to the city on a Monday morning.
When it comes to selling high-value coastal property - experience is key. But it also about knowing the market, knowing the trends, the best way to sell a property in varying market conditions – and certainly having lived in the community for a long time helps this.
Some properties are easy to sell in this market. However, not all walk out the door at top dollar. Some properties may need a different approach to achieve a good sales figure.
My advice to vendors is to always choose/research for the most successful agent that knows the area. A good idea is to ask questions of a prospective agent which can give a clearer picture of how well they know the specific Omaha market and how your property can be sold to maximize value both monetary and terms of sale.
You need to be patient for the right buyer to come along. In this market, buyers should make it their business to be informed and an experienced agent is in the best position to appraise and suggest the best way forward in terms of getting you the best outcome.
I have a few properties in the pipeline coming up, including an entry-level Kiwi bach at Leigh, give me a call to discuss! Or for anything else property-related and the market, I'm always available to chat.