Leonie's blog

What a fabulous surprise to be in the Top 2 Team in Wellington City and Auburbs at the Harcourts Quarterly Awards last night! A BIG THANK YOU to all our supporters, as without your recommendation to others and on-going support this wouldn't be possible.

We're proud to help our clients consistently achieve better results through strategic marketing, leading edge technology and world best practice processes. Good news travels fast and we have listed 19 new properties so far this year....yes that is a lot :-) ....though we still have some places left for February and March. If you are thinking of selling in the new few months give us a heads up and we can hold a place for you (027 518 0008).

Leonie Snook and Steve Welsby, Top Wellington Real Estate Agents 2012

As a seller should I name my price? The market sets price, but there's a range of price possibilities. Best results always come the highest number of the right type of buyers seeing your home, connecting with it and wanting to buy it. The market will have a price range for your home - and your approach and who you work with will have a significant bearing on what you can achieve. ‘No-price marketing' focuses on meeting the right buyer's needs, on features and benefits of your property, on out-promoting your competition, and getting the widest number of potential buyers to view, and multiple interest.

Pricing sells on a price - how realistic and attractive the number is perceived to be by buyers will determine if they view your home (and how many potential buyers view your home). Which one works best? Opportunities for a top price are always greater with well executed ‘no-price' marketing. Harcourts offers every type of sale method. For advice on which method is best to use in different property, selling and market situations, give us a call (027 518 0008).

Leonie Snook and Steve Welsby, Top Real Estate Agents, Wellington 2012

Buying in a tight market - The Wellington market is tighter and has become much more competitive over the last few months. Buyers, be ready to be decisive, have your finance approved and key advisors - builders, lawyers, brokers or bank managers - on standby. Research local market sales and ensure your offer is competitive. Getting a building report or a verbal report from a builder up-front is a good investment to make a strong offer. Get your checks done and make your offer as clean as you can. If you're looking to buy and have a house to sell...get on the market first. A cash offer when you buy will have clout, whereas a condition for ‘house sale' may see you miss out. See our website for smart tips on buying www.leoniesnook.com

Steve Welsby and Leonie Snook, Top Wellington Real Estate Agents 2012

Sellers Market is Here - With 21.6 weeks of housing stock on the Wellington market compared with a long term average of 22 weeks*, the market is favouring sellers and in particular those taking the right approach. A property we sold this week had over 60 viewings in 3 weeks (a record level :-)) ...and 8 offers. With active buying demand and listings in relatively shorter supply, there's a strong demand for well located and presented property. Sellers, work with a top agent who GETS marketing and can help you prepare and present your property to its fullest potential. If you or someone you know is thinking of selling, book in for a no-obligation appraisal and recommendations. Our opinions are free but could save you tens of thousands!! (leonie@leoniesnook.com)

* NZ Property Report, February 2011 (realestate.co.nz) - equivalent weeks of sale being how long it would take to clear all the stock currently on the market at the current rate of sale.

Leonie Snook and Steve Welsby, Top Real Estate Agents Wellington 2012

Interest rates lower for longer

The Reserve Bank held the official cash rate (OCR) unchanged at 2.5% yesterday, as widely expected. There was an absence of comments from their previous monetary policy releases hinting at expectations of the rate moving. With inflation tracking well below policy settings and the economic recovery fairly tepid, economists are expecting the rate to remain unchanged for most if not all of 2012. Great news for buyers and people wanting to go a step up the property ladder...get amongst it!

Steve Welsby and Leonie Snook, Top Wellington Real Estate Agents

Are buyers out there now? In short YES, this week we had 24 and 17 groups respectively at first open homes for two new properties (see previous quote re having best practice processes). Buyers will be pleased to see more properties coming onto the market over summer, the Property Press doubled in size over the last week. For sellers, the right approaches and doing things properly, remain essential for top results. Don't be fooled, the market is improving but it's what the seller does and who they work with that has most to do with variation in their results. The ‘3 Ps' are critical in selling real estate well - Product, Promotion and Pricing - along with a couple more for good measure ‘Preparation' and ‘Presentation'. We work with many clients well before they get to market to get these elements right and the results speak for themselves. If you, or someone you know is thinking of selling over 2012 get in touch for a no-obligation appraisal and recommendations...it could save you tens of thousands! (leonie.snook@harcourts.co.nz).

Steve Welsby and Leonie Snook, Top Wellington Real Estate Agents

Buyer demand healthy against short supply - 577 homes were sold in Wellington in December... that‘s quite a few, down from December 2010 (586 sales). The market upped its tempo over the last six months of 2011, with sales volumes up 4.2% on the same period in 2010*. On the flip side, the supply of properties for sale remained constrained - 571 new listings in December, down 4.7% on December 2010, and new listings in the last six months of 2011 down 4.9% on the same period in 2010**. Remember high school economics....supply and demand? What happens next...? You got it, a firming of prices albeit at slow and modest levels. Wellington property values in December were 0.4% below December 2010, whereas six months ago they were 3.2% below***. For sellers it's a great time to sell. It's also clear that buyers are ready to act.

* Real Estate Institute of New Zealand - Market Trends
** NZ Property Report (January) - realestate.co.nz
*** Quotable Value - Residential House Price Index

Steve Welsby and Leonie Snook, Top Wellington Real Estate Agents (31 January 2012)