Mason Parker Mortgagee Marketing Specialist

 The graph provided by Terralink and www.realestate.co.nz suggests that nationally mortgagee sales are on the rise (quiet significantly if you look at this graph). What I must say to moderate the extreme reaction I had when I saw this was note the jump is from 2% of sals nationally to 4% of sales nationally.

 There has been a bit of a up-and-downward trend in the last few weeks but the trend supports a distinct rise in mortgagee activity.

Interestingly there has also been an increased use of proactive/enthusiastic sales people using the keyword Mortgagee in their ad copy to inflate the chance of mortgagee buyers finding their non-mortgagee listings.

This trend is an observed trend in Mortgagee Sales …the obvious question is what about listings?

Well, its pretty obvious that there is a distinct and consistent rise in both national listings and national sales.

 With the increase in the use of Mortgagee as a keyword by proactive/enthusiastic salespeople who are tying everything they can to get buyers to view their listings — I ran  a search of Levin Residential properties for sale to see if this was occurring here and was pleased to see the listings that showed were genuinely Mortgagee Listings.

CLICK HERE TO SEE FOR YOURSELF

Thanks to Alistair Helm from www.realestate.co.nz for providing the graphs in his blog post HERE

Welcome to Waynes comprehensive weekly list of Distressed and Estate sales.

All  properties new to the list are highlighted.

You can view our listings for Distressed/Mortgagee sales  HERE

Auction Managers Comment

A couple of weeks ago I mentioned to watch the interest rate changes as they should stimulate the market.  Well it certainly has and the rush on people trying to long term fix from what I can gather is unprecedented.

Over the last two weeks our Auction rooms in the Hutt Valley, Levin and Paraparaumu have been packed with active interest, so from me its official the buyers are back.

Of interest that is new this week is 2 BRAND NEW 3 bedroom townhouses in Monarch Mews (off Queenwood Road) in Levin. Nice to see town houses with double garaging, RV is $285,000, however they are Mortgagee Auctions so have to sell.

From Waikanae we have an Estate Sale in Nimmo Avenue East.  A 2 bedroom home with separate fully self contained flat, built in the 1970′s and with an absentee vendor wanting a quick result this will certainly create an interesting Auction. 

Till next time Happy Buying.

REMEMBER; if you have any questions don’t hesitate to call me on

   0274 421 915    or email wayne.sutton@harcourts.co.nz

Regards,

Wayne Sutton

This week I listed two mortgagee auctions for two BRAND NEW properties in exclusive Monarch Mews off Queenwood Road, Levin.

You can see them online at http://www.realestate.co.nz/offices/3517/agents/19404 

Two lovely properties with brilliant features including ensuites, studies, internal access double garage, low maintenance brick, aluminium joinery and colour steel tile roofs.

They are in a great location – being within easy walk of well-respected Fairfield School.

This is an opportunity not to be missed – two or maybe one very lucky buyer will secure two briliant homes for less than build cost.

Come along to the 1.00pm Sunday Open Homes  and do your research before 13 May comes around – it will come quickly.

I’ll update this post when I have uploaded my videotour.

Harcourts Levin ran 7 commercial mortgagee auctions today – 3 sold on the day with negotiations well under way on 3 more.

Harcourts Levin consultant Tom Childs is pleased with a turnout of 40 people at the auction and active bidding via phonebids and from the floor.

Read more here

Harcourts Levin ran a tight ship with the big screen show complimenting the auctioneers calls, two auctioneers (Stu Pescini and the National Colliers Auction Manager) and Harcourts Auction Manager Wayne Sutton in support.

Congratulations to buyers, bidders and attendees.

www.realestate.co.nz included the post copied below. It states pretty well that the mortgagee trends in recent times are matching the listings in that they are steadily climbing.

What this article also states and this is the key learning point for me – is that while mortgagee sales account for up to 45% of US sales they are well under 5% of all NZ sales (so far).

You can read the full article below

Read the rest of this entry »

The TVNZ website article http://tvnz.co.nz/business-news/mortgagee-sales-record-levels-2536835 - (copied below)

Startling new figures reveal the full extent of New Zealand’s property market slump, with mortgagee sales at a 15 year high.

Property information company Terralink has compiled the first comprehensive study of forced sales.

December saw 191 registered mortgagee sales, the highest number in the 15 years that records have been kept.

That’s a whopping 290% increase from the previous year.

“We were quite surprised by the speed at which it was happening,” says Terralink managing director Mike Donald.

Early indications show even more mortgagee sales in January.

“January is normally a slow month for the country with everything on holiday, so we’re anticipating the February figures will continue to rise,” says Donald.

Terralink says that finance companies are behind many of the sales, suggesing that the credit crunch is hurting them more than trading banks. A second wave of mortgagee sales is also predicted caused by the massive number of redundancies expected to hit the economy.

Market watchers say other countries are even worse-hit.

“The US is recording for the whole of 2008 45% foreclosures, the equivalent of mortgagee sales, so we’re nowhere near the extent of that dramatic scale,” says Alistair Helm of realestate.co.nz

You can also see the TVNZ video http://tvnz.co.nz/business-news/mortgagee-sales-record-levels-2536835/video

While the article and the video are shocking – it seems worth noting that the NZ economy has not had the level of extreme lending (bordering on reckless lending in my humble opinion) that has been occurring in the US – that’s why they have up to 45% of real estate listing recorded as foreclosures. (a figure mentioned in the video and various articles)

New Zealand needs to keep a real eye on how things are reported and qaulify the statements – we are not the US and while we track their trends I believe we will experience less trauma than the US real estate economy…as long as we continue to supply the world with food and primary products.

These views are the humble opinion of Mason Parker Harcourts Levin Sales and Marketing Specialist.

www.zoodle.co.nz has launched stats which are not just related to listings including the keyword “mortgagee”.

Read about it here click here

You can download the report here download here

This is great news as www.zoodle.co.nz is a site designed to provide almost “data mine” type data – showing trends in areas like population, sales, listings.

Take a look at Levin data – CLICK HERE TO SEE LEVIN

Stu Pescini calls another successful Mortgagee Auction at Harcourts Levin, 12 Exeter Street, Levin 18 March 2009.

With more than 50 people present the room was alive with atmosphere and bidding was strong. The new wide-screen monitor helped keep buyers focussed on the property until the call came “…Going, Going, GONE.”

A great result! If you’d like to clear a bad debt – call Mason Parker Harcourts Levin Sales and Marketing Specialist 06 368 9449

If you would like to view these properties or attend the auction contact Mason Parker Harcourts Levin Sales and Marketing Specialist for buyer assistance – that way I can act as your buying agent.

Mason Parker Harcourts Levin Sales and Marketing Specialist takes great pride in his negotiation and representation of buyers.

Mason Parker is able to act as your buying agent making sure you are well placed to buy Harcourts Properties.

Download the ”Free Buyers Guide to buying Mortgagee properties” below and then Call Mason Parker – he will be able to look after you as a buyer to find the right property and make sure you are well placed to buy successfully.

Masons-buyers-guide-to-mortgagee-sales

You can find Mason online at:

www.masonparker.co.nz  on his blog at www.noaddedfluff.com and in the news http://www.infonews.co.nz/profile.cfm?id=1951

Or call Mason Parker’s anytime number 06 368 9449