Archive for September, 2010
Negotiation skills
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Real Estate Agents Bed time
From the Twilight Zone
Me: So what would it take to own the property?
Agent: Well they are asking $400,000.
Me: Yes I see that. But is there any flexibility in their price?
Agent: I told them I thought $400,000 was achievable.
Me: Right, so you are saying that they are hard on 400K?
Agent: Well they are asking 400K
Me: So is there any point in me making a low cash unconditional offer?
Agent: As long as it is around $400,000 absolutely. They really want to sell.
Me: Given that their asking is 400K my low cash offer would be a bit less than 400K.
Agent: But they really want 400K for it.
Sound of gunshots…………….
Stay Inspired and Stay Safe ~ Dean Letfus
What a difference a job makes
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Australian Business Unit
I was reading several RNBZ reports today and was surprised that most of the data they were using for forecasting was actually Australian economic data. In fact I couldn’t even find comparable figures at QV, Statistics New Zealand or RBNZ to compare. It appears current data is readily, (publicly) available in OZ but not here.
I say surprised because we can’t really compare ourselves with OZ when we have such different employment profiles, one of the key drivers for property.
So if we were following Australia in all respects we would have headlines like this today in OZ:
“House prices forcing more people closer to the edge
The share of debt-free households in Australia has plunged to a nine-year low, new figures show, amid signs people are borrowing heavily to keep pace with the rapid growth in house prices.
According to a Melbourne Institute survey, only 36.2 per cent of households held no debt in the September quarter, the lowest since the series began in 2001.”
Oh to have this problem right now. THEY have it because they have a growing population and very high employment.
A lesson seemingly lost on consecutive governments here in NZ. If we increase our population we stimulate our local economy and create lots of new jobs.
Another 2 or 3 million people here would do wonders for our economy I reckon. What do you think?
Use Facebook comments below to have your say 
Stay Inspired and Stay Safe ~ Dean Letfus
QuickEze anyone?
Posted by: | CommentsWell a fascinating week in the market. I am still in Kuala Lumpur but the internet makes accessing all local news even easier than buying a paper these days.
There have been tummy rumblings of various kinds in almost every area of property in the last 7 days, some good and some bad.
Finance: It looks like the banks are starting to relax their lending criteria with anecdotal evidence of 80 and even 90% lending being approved. In one sense this is hardly surprising given that money in the bank, when you are a bank, is like having unsold stock on the shelves so they have to find people to lend it to or go broke.
But given the overall fiscal position in NZ it is surprisingly early for this turn of events.
Distress: Mortgagee sales continue to make up a significant percentage of all sales in NZ which is both sad because of the personal misery behind each sale and concerning for the economy as those vendors circumstances are a leading indicator often of further business failures and bankruptcies.
Real Estate Agents: I know I pick on agents a fair bit but the other sad news this week is that large numbers of agents, around 10% of the NZ total, haven’t renewed their licenses. In a bizarre statement the heads of Harcourts and Barfoots said that the decline in agents was due to the $555 fee that had to be paid and that the 6 week training course made it “much harder” to become an agent.
Yeah right. A 6 week course to allow you to contract multi million dollar transactions on behalf of the public is just so unfair . Whilst the above may be true to some degree I also hope that the decline is largely due to unscrupulous players leaving because they can’t do what they always did to make money because the risk of getting prosecuted is too high.
Opportunity: So the upside in all this is incredible buying opportunities still abound. In fact based on the emails I get from many finders the bargains are getting better, which is to be expected when the market is awash with distressed vendors. So if you are buying this continues to be candy store time. I have friends throughout Asia coming to our shores now with very deep pockets because in the property investment community NZ is considered Number 1 buying spot right now. Make sure you get yours all right!
Stay Inspired and Stay Safe ~ Dean Letfus
You have to laugh!
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I am always a fan of humourous journalism and real estate usually keeps me very amused because of their propensity to create an advertisement and call it news. This one today is a total gem:
So a year ago this was worth $800,000 and now it can be bought for $750,000.
Wow like that’s amazing, such a massive bargain . If I’m not mistaken that is around a 6% discount.
So obviously this is simply an advert to try and sell this property which is fair enough but to cal lit a good deal or a bargain is just funny.
As you and I know there are plenty of good properties that can be purchased at 30 or 40% discounts so 6% is actually full retail, not any sort of bargain for anybody at all, except of course someone who falls in love with the property and wants to live in it.
And while we are on amusing journalism this is also a cracker.
$16 million woman defies sluggish property market
This is a beauty because the site it is on can have articles posted by anybody pretty much and I can’t think of a more misleading headline.
What would be true is to say “Real Estate Agent sells 3 properties in 1 week”, but that is hardly defying any market.
So if you want a good laugh check your real estate section and for the “most bizzarely posed real estate agent photo” check out the 16 million dollar woman’s pic.
Stay Inspired and Stay Safe ~ Dean Letfus
Working Hard
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The more I meet people in Asia the more I understand how lazy us westerners are.
I don’t mean that in a disparaging way but it is true.
In Malaysia most people seem to have 2 jobs plus at least 1 or 2 businesses. And no matter what happens they see the opportunity.
I had a wonderful evening with a new friend last night who not only has her own consultancy business and wholesaling operation but is launching her own clothing line and buying a cafe franchise.
And she is constantly looking at new opportunities.
So whatever they put in the water here we need more of it in NZ.
Not that working hard is the end game but if we can do whatever it takes till we get to our goals, then we can take the rest of our lives off!!
Stay Inspired and Stay Safe ~ Dean Letfus
I kid you not!
Posted by: | CommentsI actually found this for sale on the internet.
And they say America has lost her greatness
Now that's funny
I mean what would look cuter than having bacon strips wrapped around your toes or decorating your knees.
Sliced bread might have just found its match!!
Stay Inspired and Stay Safe ~ Dean Letfus
And they called it Puppy Love…
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A Dog’s Purpose? (from a 6-year-old).
Being a veterinarian, I had been called to examine a ten-year-old Irish Wolfhound named Belker. The dog’s owners, Ron, his wife Lisa, and their little boy Shane, were all very attached to Belker, and they were hoping for a miracle
I examined Belker and found he was dying of cancer. I told the family we couldn’t do anything for Belker, and offered to perform the euthanasia procedure for the old dog in their home.
As we made arrangements, Ron and Lisa told me they thought it would be good for six-year-old Shane to observe the procedure. They felt as though Shane might learn something from the experience.
The next day, I felt the familiar catch in my throat as Belker ‘s family surrounded him. Shane seemed so calm, petting the old dog for the last time, that I wondered if he understood what was going on. Within a few minutes, Belker slipped peacefully away.
The little boy seemed to accept Belker’s transition without any difficulty or confusion. We sat together for a while after Belker’s Death, wondering aloud about the sad fact that animal lives are shorter than human lives.
Shane, who had been listening quietly, piped up, ”I know why.”
Startled, we all turned to him. What came out of his mouth next stunned me. I’d never heard a more comforting explanation. It has changed the way I try and live.
He said:
“People are born so that they can learn how to live a good life — like loving everybody all the time and being nice, right?”
The Six-year-old continued,
“Well, dogs already know how to do that, so they don’t have to stay as long.”
So Live simply.
Love generously.
Care deeply.
Speak kindly.
Remember, if a dog was the teacher you would learn things like:
When loved ones come home, always run to greet them.
Never pass up the opportunity to go for a joyride.
Allow the experience of fresh air and the wind in your face to be pure Ecstasy.
Take naps.
Stretch before rising.
Run, romp, and play daily.
Thrive on attention and let people touch you.
Avoid biting when a simple growl will do.
On warm days, stop to lie on your back on the grass.
On hot days, drink lots of water and lie under a shady tree
When you’re happy, dance around and wag your entire body.
Delight in the simple joy of a long walk.
Be loyal.
Never pretend to be something you’re not.
If what you want lies buried, dig until you find it.
When someone is having a bad day, be silent, sit close by, and nuzzle them gently.
ENJOY EVERY MOMENT OF EVERY DAY!
Stay Inspired and Stay Safe ~ Dean Letfus
