In mid-July, Ray White Whanganui held a free information evening for property buyers and sellers. General Manager Philippa Ivory said, “So much has changed in the Whanganui market, not just prices but also the way properties are sold and the expectations of both the buyers and sellers. Whether you’re new to the market or returning to it after a few years in your home, there is a lot to learn. We wanted to offer people the opportunity to learn about it directly from the experts, lawyers, valuers, lenders, agents without having to incur costs.
“It was very interesting to hear what you can do to improve your chances of securing a mortgage, achieve a sale, and pay the right price. There were helpful tips on how to save money and how to ask for cash contributions. We discussed the ways properties are being marketed and sold now, as these changes have also had an impact on all those involved in the transaction. All the speakers were happy to answer questions, and it was a very worthwhile couple of hours.”
An example given on the night demonstrated the conflicting information publicly available and why talking to specialists is so important.
“We gave the example of a home purchased earlier this year. Three-bedroom, fair condition, good area. The buyer paid $451,000 for the property. Trade Me and Homes.co.nz still value it at that, while One Roof and Corelogic have ranges that start and end significantly higher. We’re talking hundreds of thousands of dollars more. It can be very confusing and that’s why we recommend having a real estate agents’ free appraisal. They’re out there every day, working in and adjusting to the market as it ebbs and flows.”
Given the evolving market, Ray White plans to hold another event in Spring. “We had great feedback from attendees and speakers and there is more we can learn. Potentially we’ll include a building inspector and invite Council to come and discuss subdividing your large section. Depending on listing levels and demand, we may well be discussing different forms of sale by then too.”
To help locals understand the current property market, Ray White Whanganui is holding a free information evening at Whanganui Collegiate Auditorium on Wednesday 14 July at 5:15pm. Local experts in lending, property law, real estate, property management and valuations will speak and invite questions from the audience. All welcome.
What: Buyers and Sellers Information evening
Where: Prince Edward Auditorium, Whanganui Collegiate School
When: Wednesday, July 14, 2021
From: 5.15pm – 7pm
Guest speakers: Rob Moore, Lawyer; Aaron Stampa, Mortgage Broker; Ken Pawson, Valuer; Melissa Robinson, Bank Loan Advisor; Michael Bourne, Real Estate Sales; Chelsea Mooyman; Property Manager.
Free: tea and coffee, information packs