A tidy three-bedroom house in west Auckland sold in just seven days after 22 buyers made offers.
Harcourts agent Steve Cotter, who marketed the 20-year-old brick and tile house on Ginders Drive, Massey, said he had his first offer the day after the property was listed.
“It came on the market on Monday, I did private viewings on Tuesday and we already had an offer.
“By the open home on Wednesday, we had multi-offers, the open homes on Saturday and Sunday were pretty busy, we had 55 groups through at least.”
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Cotter said agents from both his own Harcourts offices and other real estate agencies were bringing their buyers through – one agent alone brought three offers – as the house with a CV of $900,000 hit all the things on buyers’ lists.
He would not reveal the sale price, but said it was a cash offer “substantially over” CV.
The vendors of the three-bedroom house on Ginders Drive, Massey, presented the property with good staging and a good campaign, the agent said. Photo / Supplied
“That sort of family home under $1 million is the sweet spot for first-home buyers. It didn’t go to auction because the vendors wanted a speedy sale, but we didn’t expect it would go that fast,” he said.
“It attracted emotional first-home buyers, emotional families upsizing and emotional downsizers. At the open home there were kids playing on the playground, making themselves at home already.”
The agent said the vendors got it, as they wanted to sell fast. Their superb presentation and staging of the house, two renovated bathrooms, really good-sized bedrooms, internal double garage, an open-plan layout with flow to good outdoor spaces made up for the slightly more dated kitchen, and the property’s proximity to the motorway (albeit buffered by the cycle way and planting).
“To get all those desirables in this price range – we had a rugby scrum. Suddenly, we’re putting vendors on the front foot, it’s not a buyers’ market for the good stuff.”
The family-friendly backyard drew kids at the open home. Photo / Supplied
Cotter added that while in a multi-offer prices may vary by up to $100,000, he has two pieces of advice for buyers competing for a property: make it unconditional and make it the best money you have, first time.
“When a vendor is faced with a decision on cash versus conditional, even if the conditional is $20,000 or more higher, in this market cash will always be king.
“Offers with conditions subject to sale of another house always go to the bottom of the pile.
A good family home for under $1m hit the sweet spot for first-home buyers, as well as second-home buyers. Photo / Supplied
“I see so much heartbreak of people who missed out a house who [when they hear the price] realise they could have afforded that. Some people have to learn that lesson too many times before they get it.”
The agent said that special houses like Ginders Drive are still rare in this market. He's now looking for another 21 like it for the buyers who missed out – but the sale shows that vendors with good, well-presented properties can be confident that within a week or two they get the best price that the market can offer.
“Buyers can only make a cheeky offer on the stuff nobody else wants.”
