+6421757269 michael@bml.net.nz

My latest NZ Mortgage Update video. Sharing observations on first home buyers, investors and interest rates.

I’d love to talk to you about your finance and mortgage needs!

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Michael Anastasiadis – Mortgage Broker Wellington
– call me on 021 757 269

TRANSCRIPTION of Video HERE:

Good evening everybody. It’s Michael Anastasiadis here, mortgage advisor, mortgage broker for Bozinoff Mortgages, mortgages made easy. Coming to you live here from a beautiful evening here up in Newlands.

Look, I just wanted to jump online. It’s been a while. It’s been a busy week. Kids have been home with school holidays. And just been busy, busy with new applications for first home buyers, busy with buyers that have been busy putting in offers. I’ve had quite a few people put in offers this week and they’ve been successful, not only this week and last week as well. So it’s actually been really, really good this week. I’ve had a number of clients get properties, most of them with conditions so it’s good to see that conditions are back.

Hi to everyone watching. But I suppose the first thing I wanted to say is thank you as well for all your positive messages, for all your feedback, for those that saw me on the news and in the media with the fear of missing out. And it’s nice to see that some others have picked up and run with it.

Tony Alexander being one of the big ones. So it is out there. People are always worried about overpaying for a property. But right now the way prices have been it’s even been more scary. The good news is from what I’ve been seeing on my side of the table is that a lot of… Oh, geez, I don’t know what’s going on here. A lot of properties seemed to have… What’s the word? Calm down, or we’re getting back to normal prices. They’re not going up 20% every month like they have been. So prices are starting to stabilize. And that’s the market, right?

So it’s good to see the market slowly calming down again, coming back to normality. Prices aren’t as crazy as what they were, conditions are coming back in, people are doing their due diligence. So things are starting to settle down. So it doesn’t mean that good properties still aren’t going for crazy prices because that happens regardless of what’s happening in the market. Right?

Good properties always sell at a premium, that’s just property, that always happens. But for your first time buyers out there it has been a lot more easier than what it’s been two, three, four months ago. So that’s good news.

In terms of interest rates, we’ve seen the four and five-year right now start moving over 2.99. So into the early threes now, depending on what bank it’s with. It’s actually good news because it shows that the economy is doing well. So people are spending, the economy’s doing well. So those longer term interest rates are going up. And crazy thing to offset that the one year rate’s actually slightly gone down a little. So it’s definitely fun times at the moment being a mortgage broker watching those rates. Regardless, there still record lows anyway. So that’s good news.

I’ve been invited to a number of open homes tomorrow.

Unfortunately, I won’t be able to get to them all, I still got some family commitments here, but I should be doing a live there. So if you’ve been looking to buy, keep looking because there’s less competition out there. I’ve have heard through the grape vines, the real estate agents I’ve been speaking to with the home buyers I’ve got pre-approved, a lot of investors aren’t looking at the moment. So things have slowed down. And when there’s less people looking, there’s less competition, and that’s why we’re starting to see prices not skyrocket as they have been and conditions coming back into play.

I’ve also had a number of clients get offers accepted subject to the sale of their house. So that’s also good to see because a month ago people were panicking, saying, “We need to sell our house first. We need to be unconditional to buy a place.” So it just shows you that if you wait and you do what’s right for you and your circumstances, things do fall into place and that’s what’s happening for a lot of people out there.

So look, if you’re interested in getting one of these 2.99 for four or five years, get in touch because it’s going to be really hard to get come the middle to end of next week. I think only a few banks are offering that. I might be able to twist your bank to get that but that’ll be long gone soon enough. So anyone that needs any help at all feel free, all my details are in my bio in my profile page, so feel free to get in touch. Otherwise, guys have a great evening. I’m going to sign off and hopefully I’ll be live tomorrow afternoon from a open home.

Cheers guys have a good evening. And may God keep blessing us and our beautiful country.