Pictured: 46 Stapletons Road, Richmond. Sold at auction for $280,000, December 2015.
This Thursday with four auctions to be called Team Griff will reach yet another milestone, surpassing their 155th ‘as is, where is’ sale. Who knows with the demand for our services ever increasing there may well be another 100 plus to come!
With the close of the year upon us and that physiological deadline of “do it by Christmas” driving closure, purchasers are certainly benefiting from the luxury of choice in the ‘as is’ market place. As marketing specialists we are increasingly having to heighten our purchasers’ top of mind awareness in order to ensure our sellers’ homes are on the top of the stack.
Underpinning the larger volumes of stock is the insurance industry’s desire to clear the table of the last five years of insurance claims. Cash settlements are often a cleaner and easier way for both insured and insurer to move forward, certainly speeding up the process of closure for the customer and a straightforward option for insurers.
The 2015 purchaser make-up has seen the prevalence of the construction sector entering the open marketplace. This is a direct consequence of the higher percentage of insurance cash settlements taking place and less remediation work being fed directly to the building industry. Mums and dads are also seeing these properties as worthwhile and affordable opportunities to assist their children into the property market. With post remediation insurance becoming more readily available and almost certain upside why wouldn’t you consider this as a cheaper option and equity builder?
Our ‘as is, where is’ online purchaser database (unique to Team Griff) has just peaked above the 900 mark, providing our ‘as is, where is’ sellers with a massive key advantage. The bottom line being we can appeal to the heart of the most active market with the click of a button. Our clients constantly provide positive feedback applauding the accessibility to critical property information via our listing notification system and the direct linking to our information-rich website.
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My prediction is that we will have another year of the same with strong levels of ‘as is, where is’ stock coming onto the open market. I do expect to see these stock levels starting to dwindle by mid-2017. While prolific now, this is a niche market and won’t be with us forever.
Already my team are prepping property to hit the market in the New Year and from experience this is one of the better marketing windows for home owners. Refreshed and invigorated after the classic Kiwi holiday, purchasers don’t take long to pursue property in the New Year and there is nothing like some New Year goals and enthusiasm to drive that.