Mason Parker Mortgagee Marketing Specialist

Marketing consultant Barry Needham of Harcourts Levin said buyers saw plenty of potential in this tidy three bedroom home on 736m2. The fact it was in a popular location, close to schools lit the interest up with investors. With an R.V of $200,000 Auctioneer Stuart Pescini bought the hammer down for the mortgagee at $154,000.

This is great buying – you had to be there to be in!!

View the full report here

The Terralink Mortgagee Report found on zoodle mentions the sproportion of sales made up from mortgagee sales is increasing nationally. Of concern is an observation ed trend showing that while investors and developers continue to face mortgagee sales for what are “the risks of trading” there is growth in the numbers of “Mum and Dad” family-style owners facing mortgagee sales.

While the trends are carefully reported — the trend isn’t morrored here in Levin. As part of monitoring the Levin Real Estate Market I also monitor the Levin Mortgagee Sales (based largely the numbers of mortgagee listings).

I am glad to say that the Levin Mortgage Sales Market is quietly bucking this trend  - current listings only showing 1 mortgagee sale in a poll of 358 Residential listings in Levin see http://www.realestate.co.nz/residential/all/levin

This is another great Levin Real Estate Story with good active bidding and this Mortgagee Property sold under the hammer.

There were 22 in attendance in the Harcourts Levin auction room.

The Selling Price? – $253,000.00 – well done to the successful purchaser! And to the successful Auctioneer Stu Pescini.

With 180m of house on 1423m of land -this is great buying!! Levin Property is certainly affordable!

This is your fabulous opportunity to acquire this family home with huge potential to add value. This is a one off opportunity not to be missed. Act now!

View the property online at http://masonparker.co.nz/recommends/130bartholomew

This is a brilliant location, a substantial home and generous section -

The second of two new townhouses – 6 Monarch Mews has sold under mortgagee sale conditions.

Passed in at the auction this property has successfully been sold to a conditional buyer.

Congratulations to the vendors and buyers.

I also wish the best of luck to the borrowers in the future

See the listing here – http://www.harcourts.co.nz/pcQSearch?qst=LE10887

5 Sherwood Place is up for Mortgagee Auction tomorrow at 12.00 noon at Harcourts Levin 12 Exeter Street, Levin.

This is a great opportunity to get your first rental property – they don’t come along at this low budget very often.

http://masonparker.co.nz/recommends/5sherwood

Crikey there are more mortgagee listings in Levin – in itself this is an alarming statement!

Lets look a bit deeper at the data (as per www.realestate.co.nz on 8 May 2009):

• The total residential listings in Levin is at a level of 423 across all residential property types
• There are 5 mortgagee listings in Levin which is about 1.2% of the Levin Market
• The mortgagee properties available consist of one 1 Bedroom property at 5 Sherwood Place (25% of the four 1 bedroom properties on the market) and  four 3 bedroom properties (4 Monarch Mews, 6 Monarch Mews, 5 Derby St and 22 Mabel St) which is 1.8% of all 3 bedroom prperties

As a Harcourts Levin Sales and Marketing Specialist its very pleasing to see Harcourts are dominating the Auction listings in Levin as they are statistically more likley to sell any Levin property right now. April had 25 Levin Residential Property Sales which was approximately 6% of all Levin Properties achieving success. Harcourts Levin auctions are converting 10-11 times more frequently.

HOT NEWS:

4 Monarch Mews www.masonparker.co.nz/monarch4 and 6 Monarch Mews www.masonparker.co.nz/monarch6 auctions are days away on 13 May 2009.

5 Sherwood Place – just listed see it here - Auction 12.00 Noon 10 June 2009 in Levin

Research is showing that 95 % of all property purchasers are utilising the internet and according to a major independent Real Estate website the number one phrase used in searching for property is the word “mortgagee.” However we have made it easy for you as our latest mortgagee sales are found here

Last month I mentioned that buyers are re entering the market place.  It is interesting looking at the national statistics which show 3706 sales in January (must be the lowest on record) then 5208 in February and now 6694 in March. About 1000 more than March last year.

Investor buyers and entry level buyers have re-entered the market on mass where there is real value for money.  Therefore, if you see something on the list that appeals do not wait to see what happens as the environment has changed over the past six months.

New to the market is an estate sale in popular Sunset Terrace at Waikanae Beach. Great buying in this location and a mortgagee sale in Levin at 5 Derby Street and an estate sale at 103 B Winchester Street. Contact Mason Parker Harcourts Levin Sales and Marketing Specialist on 06 368 9449 if you’d like to view these properties.

In Gracefield, Lower Hutt we have a one bedroom ground floor attached unit situated at 121 C Bell Road – this could be the cheapest property you buy for a while.

REMEMBER; if you have any questions don’t hesitate to call me Wayne Sutton Harcourts Auction Manager on 0274 421 915 or email wayne.sutton@harcourts.co.nz

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