News — December 2008

9 Dec 2008

Launch

I'm excited to finally be able to announce the launch of Custom Residential Limited.

Months of hard work behind the scenes has definitely paid off as we open our new offices on the corner of Great North Road and Bond street as well as announce the release of our new book about sales, service and success. We've had some very positive initial feedback on the book and it's available through all good book retailers as well as on our website.

Most of all, I'm excited about getting back out into the community. I love living and working in the area and believe it's a privilege to be involved in the marketing and sale of so many century old character homes.

Our company philosophy is very simple. We want to improve the whole real estate experience for everyone who comes into contact with the industry. Buying and selling a home remains one of the most important decisions anyone can make, that's why it's crucial to get professional support and advice from people who genuinely care.

Past clients have told me that they really value and appreciate sincere, honest and hard working service and I realised there was a huge demand for doing business that way. At Custom Residential, we will be handpicking a team of specialists and will ensure only the right people with the right attitude and approach come on board. We have some exciting staff announcements to make in 2009. The industry needs an overhaul and Custom residential will be instrumental in giving it one.

Please feel free to browse our website, in particular the About Us section as well as the Buying and Selling sections. We also have a handful of great new listings to view with many more to be added over the coming weeks.

This news update focuses heavily on introducing our new company but you will note that in future editions we wish to provide you with and abundance of relevant and important market information and interpretation. We aim to make these hugely beneficial to our customers and well worth a read.

8 Dec 2008

CAREERS

We are currently seeking 3 experienced agents and 3 new comers to the industry. We offer genuine career opportunities as well as a culture of excellence and understanding. We are interested in talking to people with a strong work ethic and customer care mentality. Please feel free to browse our Join the Team section and contact us if you would like to meet for a chat.      

7 Dec 2008

MARKET UPDATE

By Jamie Hansen
Director of Tailormade Mortgages l Insurances

The last year has certainly been an interesting year around the globe, turbulent to say the least. It all started with the US subprime mortgage crisis which sparked a chain of events eventually leading us into the global financial crisis that we now find ourselves in.

Around the world there is no lack of reports of financial institutions, companies, and households enduring financial hardship. However rather than focus on these reports I wanted to instead highlight some of the more positive recent events impacting our economy and property market. These include:

• Personal tax cuts kicked in on 1 October, and further cuts are expected in April 2009
• The official cash rate (OCR) has been cut by a total of 3.25% since July, and further cuts are expected
• Property prices have fallen over the last year in favour of the buyer
• The NZ Government now guarantees banks retail deposits and their wholesale funding
• Petrol prices have majorly fallen
• Commodity prices are continuing to fall in favour of the consumer
• New Zealand's government budget for the current fiscal year will provide fiscal stimulus equivalent to 2.8% of gross domestic product.
• Reserve bank released its financial stability report on 12 November 2008, with Dr Bollard saying "New Zealand's banks, and the Australian parents of the majors, are well-positioned to withstand the economic downturn".

In summary I believe all of the above ingredients lead to a great opportunity for the buyer in the property market. The combination of lower property prices, improved home loan affordability (due to lowering interest rates) and less qualified buyers (due to the recent tightening in lending criteria and the overall impact of the global financial crisis) leaves the door wide open for those who are well positioned to act. And although lending criteria has recently tightened, lenders are still more than willing to lend to clients who have a good equity and income position.  In the words of Warren Buffett, "be brave when others are afraid - and afraid when others are brave".

Disclaimer: Comments written 7th December 2008. No liability is accepted for any action taken based on the content of this information and/or opinions presented.