Home' Napier Mail : November 15th 2011 Contents 16 NAPIER MAIL, NOVEMBER 16, 2011
Auctions get lower prices
If you're tempted by a real estate agent to
auction your home -- PLEASE DON'T!
Auctions are a financial minefield. They get a
LOWER price, and I'd like to explain why, as
simply and clearly as I can.
STARTING PRICE: It seems as if the price
goes up at auctions. But this is because the
auction starts LOW. You won't get a high price
RESERVE PRICE: The reserve price is the
price at which the home can be sold. It's the
lowest price a seller is prepared to accept and it
is the central focus of the auction. If you are
trying to get the highest price, NEVER make
your lowest price the main focus of the sale.
Instead start with a strong price, then adjust.
REPELS BUYERS: Research shows that more
than 90% of buyers do NOT like auctions. It
makes no sense to use a system of selling disliked
by most buyers.
INCONVENIENT: Many buyers see that a
home is for auction, and if the date doesn't suit
them, they don't even bother to enquire.
BARGAIN HUNTERS: Bargain hunters know
that auctions are one of the best places to find
cheap deals in real estate. The reason why
mortgagee sales are often by auction is because
the SALE is more important than PRICE.
COMPARATIVE: If two or more people want
to buy the same home, the worst thing you can
do, from a negotiation point of view, is to allow
each person to SEE what the other is offering!
Instead of offering their highest price, each buyer
will only offer a SMALL amount above what
the other buyer offered.
DECEPTION: To persuade sellers to auction
their homes, agents talk about high prices, and
then to get buyers to come to the auctions the
same agent talks about low prices.
FAILED AUCTIONS: When a home does not
sell at auction -- and most don't -- it is labelled
a "failure'. Buyers think something is wrong with
the home; and many will offer LOWER prices.
My plea is that you avoid auctions. If you want
to know how to get the best possible price in
todays market you can get some straightforward,
commonsense advice from the book "How To
Get the HIGHEST PRICE For Your Property"
by Gary Pittard. We have complementary copies
available now. Just call
Cox Partners Estate Agents
on (06) 835-4321 anytime.
Malcolm Cox, 835-4321
Malcolm Cox on Property
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Family tunes up for concert
Musical family: Type 1-diabetes sufferer and cornet
player Jonathan Spurgeon, 10, from Hastings.
Diabetes can effect certain abilities of
people living with the disease -- but musi-
cal ability obviously isn't one of them.
Hastings boy Jonathan Spurgeon, who
was diagnosed with type-1 diabetes at
age four, is proof.
The 10 year old plays the cornet in the
Hastings Citizens' Learners Band,
recently passed his Level 1 piano exams
with honours, and is learning to play the
drums using the right-handed
drum kit of his eldest brother,
Youngest sibling, seven-year-
old sister Julia, also plays the
Then there's bass-playing
brother Luke, 13, and second
eldest brother and lead guitar-
ist, Joel, 15.
The musical talents of all the siblings --
along with those of their grandad and
well-known Napier muso, Allan Snoad --
will be on display at a free concert on
November 26 at Napier's Soundshell to
celebrate national Diabetes Awareness
Also playing at the November 26 con-
cert, from 2pm to 4.30pm, will be three-
piece the Emoticons and rockers Future-
Entry is free but donations to diabetes
research will be appreciated.
Heavenly time at new business
Alfresco bar: The Old Church Restaurant's new
owners Richard Highnam, chef, and his partner
Melanie Alderton, manager, relax outside in the
By CAROLYN VEEN
Instantly captivated by the charm of
The Old Church Restaurant from the
moment they laid eyes on it earlier
this year, manager Melanie Alderton
and chef Richard Highnam knew it
was the perfect place for them.
This divine old building in
Meeanee was everything they'd been
looking for, inside and out, and it
came with a decor that's as tasteful
as Richard's latest menu.
Seven months on, they confess to
being just as passionate about their
new business as they do about their
new lifestyle in the Bay.
Although we've both travelled
quite a bit, we settled in Auckland
for a couple of years before this
opportunity popped up online. You
could say it just fell into our laps; we
had been looking to set up our own
restaurant and when we came down
to see The Old Church our minds
were made up, almost on the spot,''
The weather here is wonderful,
and that works well with our outdoor
bar and serving platters and drinks
in the sunny garden . . . and listening
to live jazz music in the background
-- it's magic. It's also great for Rich-
ard to be able to source fresh, local
produce from just down the road --
that's amazing,'' Melanie says.
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