Hi all,
It has been fairly quiet since my last post, We have been busy tring to source good houses in good areas... lots of rubbish out there.... and some of the owners are still wanting too much for them .... no point buying a house that has $40K to spend on a reno that when you sell you can only make $30K.... (losing $10K in the transaction).
Here is the latest market report from REINZ
2008 ... what a year.
Over all in NZ the market has fallen 3.5% for the 12 months between Jan 2008 and Dec 2008
Areas hit hard are:
Invercargill - 34.5% for the year.
Waitara - 29.7%
Feilding 23.3%
Dannyvirke -16.1%
Rotorua - 19.2%
Gisbourne -13.7%
East Otago up +43.6%
Waipukurau up +27%
Hawera up + 23.6%
South Otago Up + 20%
Papakura up +17.3%
Stable areas are Napier and Hastings at this time.....
I am looking forward to see the stats for January sales 2009 and compare a full 12 month to month annual cross check..... hope you are all finding bargains out there..... PS the banks are making it harder to borrow ... looking for omprecable credit history and high deposits....
This make it a perfect tide for the REnt to own Wave to rise.....
BREAKING NEWS:We have just secured a lovely house in Chartwell Hamilton ...... we will keep you updated as to how we go with our marketing and we will soon put yet another lucky NZ family into a Rent to own home.....
BUYERS... Any one interested in our Rent to own Homes...... or if you are looking for something that we currently do not have in stock..... fill out an application and get on our preferred buyers list....
SELLERS... If you are sick of topping up your mortgage and not getting good tenants.... we have our special "Negative Gearing Rescue Packages".... check out our website for more information or call us on 0800 700 111 NOW!!!..... no need to go on losing thousands of dollars a year with the market crashing aroung your ears.... it will take years to recover!!!
Good luck out there...
Shane Weastell
www.rent2ownnz.com