The housing market in Auckland has gone absolutely mad. I have read many theories on the reasons behind it including but not limited to: a straight up shortage of land leading to sky rocketing prices in prime neighborhoods; interest rates; a massive influx of Asian money (is that racist to say or just an observation?). Regardless, owning is out of our comfort zone for now.
But what an education it has been hunting for something more permanent. Real estate agents, take note:
Most rental agents do not work on weekends – they will not return phone calls, answer email inquiries and are annoyed if they answer your call. Hmmm.
There is no such thing as a buyers agent – the agent represents the seller. There are very strict guidelines and restrictions in terms of how an agent informs the buyer though and we have seen it in action a few times – the agent will tell us the seller is half-crocked asking what they are asking for the house and then totally pulls his pants down and tells us what he thinks it is worth which has been typically 10% less than asking.
Asking prices are generally not published. Head scratch. You have to call the agent who gets back to you when they get back to you and ask for the expectation. There is usually a half million dollar gap between the low end and the high end. Not. Kidding.
Homes are sold by auction quite frequently – I would actually say most are sold by auction. And I like it. Every one shows their cards vs. a multiple offer situation where you have no idea what the other guy is offering. All very transparent.
We have just short listed two fabulous rentals in the neighborhood we are hoping to live in – will give us a chance to really get the lay of the land and a prime spot to watch the market either pop or continue to go mad. Now…if we could only get the agents to call us back…..