Forum Home
PC World Chat
Thread ID: 80364	2007-06-20 06:33:00	NZ Newspaper Advertisements For Homes	SurferJoe46 (51)	PC World Chat

Post ID	Timestamp	Content	User
560957	2007-06-20 06:33:00	I got to cruising around the NZ newspapers and found this: . nzherald . co . nz/properties/search/detail . php?qBackToSearch=qTerms%3Dsell%26qSearchTa" target="_blank">homes . nzherald . co . nz b%3Dsell%26qAction%3Dsearch%26qRegion%3DAuckland%2 B-%2BCentral%26qCommunity%255B0%255D%3DPt%2BChevalie r%26propertyType%255B0%255D%3DApartment%26property Type%255B1%255D%3DFarm%26propertyType%255B2%255D%3 DHouse%26propertyType%255B3%255D%3DLifestyle%26pro pertyType%255B4%255D%3DSection%26propertyType%255B 5%255D%3DMiscellaneous%26pagesize%3D20%26view%3Dde tailed%26qtotal%3D9%26qSortBy%3DPrice%26qSortDirec tion%3DDESC&qAdid=PTCPPC101120000687a617001&propertyNumber=3 I am aghast! I cannot believe the prices you guys get for such small homes . . . . . . makes me reassess the situation here . I converted the price from NZ$ to US$ and this home is about $629,000 US . . and that's just too high! For that kinda money I'd expect to get 3 baths, 4 bedrooms, a 3 car garage and full appliances and new carpet and paint . I know the area's important too . . so is this a particularly expensive area? I have a 4 bedroom, brand-new home with 2 . 5 baths, 1500 sq feet that I paid just over $70,000 US/ $92,661 NZ . Forced heat, swamp cooler, full appliances with: refrigerator, dishwasher, natural gas stove/oven, Sink disposal, full lathe and plaster walls, washing machine/drier, full carpet and drapes, exterior landscaping, carport and awnings front and rear . OK . . it's a mobile home, but the differences in prices are astounding! This is just too strange! I am also looking at the South Bay of North Island and I see some serious differences here too . . nzherald . co . nz/properties/search/detail . php?qBackToSearch=qTerms%3Dsell%26qSearchTa" target="_blank">homes . nzherald . co . nz b%3Dsell%26qAction%3Dsearch%26qRegion%3DLower%2BNo rth%2BIsland%26qCommunity%255B0%255D%3DWanganui%26 propertyType%255B0%255D%3DApartment%26propertyType %255B1%255D%3DFarm%26propertyType%255B2%255D%3DHou se%26propertyType%255B3%255D%3DLifestyle%26propert yType%255B4%255D%3DSection%26propertyType%255B5%25 5D%3DMiscellaneous%26pagesize%3D20%26view%3Ddetail ed%26qtotal%3D104%26qSortBy%3DPrice%26qSortDirecti on%3DDESC&qAdid=COUST109870000687a617001&propertyNumber=12 is converted to US$ 278,757 . 02 . . that's a 1/4 million dollars for a bungalow! I'll post some pixs in the next few days of what that kinda money can get here! In new homes . . . never having been occupied! And I thought OUR prices were nuts!	SurferJoe46 (51)
560958	2007-06-20 06:44:00	I got to cruising around the NZ newspapers and found this: homes.nzherald.co.nz b%3Dsell%26qAction%3Dsearch%26qRegion%3DAuckland%2 B-%2BCentral%26qCommunity%255B0%255D%3DPt%2BChevalie r%26propertyType%255B0%255D%3DApartment%26property Type%255B1%255D%3DFarm%26propertyType%255B2%255D%3 DHouse%26propertyType%255B3%255D%3DLifestyle%26pro pertyType%255B4%255D%3DSection%26propertyType%255B 5%255D%3DMiscellaneous%26pagesize%3D20%26view%3Dde tailed%26qtotal%3D9%26qSortBy%3DPrice%26qSortDirec tion%3DDESC&qAdid=PTCPPC101120000687a617001&propertyNumber=3 That is pretty normal for the middle of the Auckland housing market, there are a lot of similarly valued houses in our street. The one you pictured would qualify as a "do up" which after being rennovated could be expected to fetch anywhere from $800,000 up to $1,000,000 depending on the final appearance of the house. Wait till you get to some of the house in the $1 million plus bracket. I live about 10-15 minutes away from Pt Chev. By South Bay of the North Island you mean the Wellington area...?	winmacguy (3367)
560959	2007-06-20 06:46:00	NZ house prices have doubled in the last 10 years or so, with some parts of NZ seeing more growth than that. It's thanks to all those OVERSEAS INVESTORS, especially in areas such as Nelson/Marlborough, (majority of property buyers are Amercian investors or developers).	somebody (208)
560960	2007-06-20 06:56:00	Deleted a small rant about Americans in the Nelson area.	Scouse (83)
560961	2007-06-20 07:07:00	This is just too strange! I am also looking at the South Bay of North Island and I see some serious differences here too. homes.nzherald.co.nz b%3Dsell%26qAction%3Dsearch%26qRegion%3DLower%2BNo rth%2BIsland%26qCommunity%255B0%255D%3DWanganui%26 propertyType%255B0%255D%3DApartment%26propertyType %255B1%255D%3DFarm%26propertyType%255B2%255D%3DHou se%26propertyType%255B3%255D%3DLifestyle%26propert yType%255B4%255D%3DSection%26propertyType%255B5%25 5D%3DMiscellaneous%26pagesize%3D20%26view%3Ddetail ed%26qtotal%3D104%26qSortBy%3DPrice%26qSortDirecti on%3DDESC&qAdid=COUST109870000687a617001&propertyNumber=12 is converted to US$ 278,757.02..that's a 1/4 million dollars for a bungalow!Wanganui ... OMG! Anyone told Metla yet that Joe is house hunting in his backyard?! :p	Jen (38)
560962	2007-06-20 07:13:00	Wanganui ... OMG! Anyone told Metla yet that Joe is house hunting in his backyard?! :p LOL :D	stu161204 (123)
560963	2007-06-20 13:35:00	That is pretty normal for the middle of the Auckland housing market, there are a lot of similarly valued houses in our street. The one you pictured would qualify as a "do up" which after being rennovated could be expected to fetch anywhere from $800,000 up to $1,000,000 depending on the final appearance of the house. Wait till you get to some of the house in the $1 million plus bracket. I live about 10-15 minutes away from Pt Chev. Joe - the prices in Pt Chev reflect the travelling time to Auckland city central. My brother-in-law bought a modern home a few years ago - $400k, more or less. He'd get double that now if they wanted to sell. Whereas we bought our place, nice and modern, only three years old at this time, for less than $400k, it's still only worth a bit more than 4.5k. Basically it's a supply-and-demand market here in Auckland.	Greg (193)
560964	2007-06-20 13:53:00	The housing market in NZ is currently overpriced and it is not sustainable, and it is predicted to crash in the not too distant future . It's happened in the USA, and to a lesser extent in Oz. The reserve bank is now regually raising interest rates to get the house market into either zero or negative growth, and the reserve bank will end up winning this battle, as they do have the power. This will mean many people who have purchased via borrowing from a bank, will not be able to pay the interest rates, and will be forced to sell, which may create a glut of houses on the market in the next 3 years. The sad thing is many people are going to lose a lot of money in the future, when they can't sell their house for as much as they originally paid for it. The other thing that will bring down prices, is that people who have purchased rentals, will not be able to get tax breaks and use negative gearing on their personal tax. This may raise rents, but may also bringa glut of rental properties onto the market. To show how mad house prices are in in NZ, there is a cottage in Greytown (which is a small country town in he wairarapa but is highly fashionable at the moment). This colonial cottage has a small cottage at it's rear which can be used as a homestay, land is less than 1000square meters. The seller is asking 3/4 of a million dollars for it, and it has a 2006 GV of $350,000. In 2000, it was only worth about $150,000.	robbyp (2751)
560965	2007-06-20 15:42:00	Housing prices here too have gone out of sight . Many new homes are built, landscaped and empty seeking owners who can qualify for the mortgages . Banks are even hesitant to loan to DINKS - Dual Income, No Kids with mega earnings . They try to induce sales with low rates - 3 . 2% / 3 . 0% / variable rates, balloons (payments with low entry-level values that rise as the loan matures until the end where a large payment - the "balloon" is due), free new cars and other inducements . We have vacant 12 bedroom, 4 bath, 6 car garaged, two story homes that sit in rows with their other clones, waiting for buyers . It's gotten so bad that banks aren't lending to "floor" a house or get it built to show for sale . Now, they just present an artist's conceptional drawing of what the house will look like, and if you can get pre-approved for the loan, they'll build the house for you . I think we'll see a lot of foreclosures and abandonments again like we did in 1997 when you could walk through a new neighborhood and not see one home occupied . In my neighborhood . . . nowhere near as affluent as the 12 bedroom areas, we have about a 20 - 30% vacancy; homes that have been abandoned and left to rot . We have about another 40 - 50% of the occupied ones with "For Sale" signs on them, and that doesn't count the silent sales, ones that are not posted but are listed by realtors . Rents are exceptionally high as people cannot qualify for purchases, and the land sharks know it and charge accordingly . Here's a few listings for you to compare: 1) . homes . com/Real_Estate/CA/City/HEMET" target="_blank">www . homes . com 2) . servingriverside . com/search . html?type=1&beds=0&baths=0&min=100000&max=99999999&zip=92546&refer=google:Hemet&gclid=CLr60Z3y6owCFQF2YAod-E_V2g" target="_blank">www . servingriverside . com 3) . servingriverside . com/search . html?type=1&beds=6&baths=3&min=100000&max=1000000000&zip=ALL" target="_blank">www . servingriverside . com (some BIGGIES HERE . . . but the land is pretty large too) 4) . harmonhomes . com/real-estate/homes-for-sale/California/San-Jacinto/detail/17217650" target="_blank">www . harmonhomes . com (San Jacinto, where I really live, but we include ourselves with Hemet) 5) . newhomes . com/houses/homedetail . jsp?regionid=915&homeid=60935&siteid=1" target="_blank">www . newhomes . com As you can see, there is a plethora of housing here . . . I will take some pictures later if youse guys like . Some of the units I'll snap are still sitting and waiting for occupants . . . some for over 2 years now . . and these are new homes too . The problem here is gas prices . We are a bedroom community for areas like Los Angeles, San Diego and places in Orange County with vast jobs and occupations . It's the commute that is killing sales and payments . If gas went up 60% (which it did) then something has to break . . . and it's the luxuries first . . . the boats, airplanes, second homes or big, new cars . Then comes the house payments . . . they fault out and foreclose and then they sit and rot . . the homes, not the buyers . It's not uncommon for people to commute for 4 hours each way, and the mileage isn't all that great . In the '60s I could get to here from Costa Mesa or Huntington Beach in about 1 hour . . . but not now . Tele-commuting isn't working out like they hoped and individual personal aircars never materialized like Popular Mechanics prophesied they would . Last "recession" I bought a 38 foot Tolley-Craft ( . boatquest . com/Power/Tollycraft/Category/Length/31358/Feet/USD/1/boats . aspx" target="_blank">www . boatquest . com) (this is a comparison, not the actual yacht) yacht for $875 . 00 US and kept if for another 4 years and sold it for a small profit . The cost was just the slip fees, and I bought it from the Harbor Master for seizure / reconveyance fees only . That's 38 feet at the water line! It was really over 45 feet long, Chrysler Vee-Drive, full LoRaN and SPS-10 radar, ship-to-shore, 3 cabins - 1 master cabin, a smaller aft cabin and a mezzanine, flying bridge w/duplicate controls, fighting deck with 2 chairs and I took it out 800 miles a few times, so it was very seaworthy . My brother-in-law bought it and lives on it to this day . Looks like I'll buy another yacht soon . :thumbs:	SurferJoe46 (51)
560966	2007-06-20 19:45:00	I know when I lived in Mount Maunganui approx 5 years ago that there was a bach (1 bedroom shed) that sold for over a million. Do the sums on that Joe :p Granted Mt Maunganui is a tourist spot and the place was a block from the beach.	Myth (110)
1 2 3