Steve Koerber's Old Blog

Remuera's house sold name since 1998 – 021864166

Posts Tagged ‘southern motorway’

In real estate, everybody loves a bargain

Posted by Steve Koerber on October 22, 2009

Ever wondered why some people seem to have a real knack for picking up real estate bargains and finding unique opportunities before the masses?

During my real estate career I’ve learnt quite a lot about how clever property speculators become wealthy.  Have I followed their lead and jumped into opportunities myself?  Mostly not, but occassionally I’ve done ok, nothing spectacular.  For obvious reasons, laws make it quite difficult for real estate salespeople to make quick profits from property speculation.

The major lesson I’ve learnt is that successful property speculators and investors work just as hard as successful people in other walks of life.  They study, read, learn, research, etc.  Often, after many failures, small wins eventually turn into bigger wins and the rest is history. 

bushfiresA friend told me a few years ago about their friend who had flown to Canberra days after many homes in its outer suburbs had been burnt down by bushfires.  An extreme event like that caused a short-lived but extreme imbalance in property prices in the affected areas.  This person bought at extreme discounts and made extreme profits within 6 to 12 months when emotions returned to normal.

I’ve written this post because I have a hunch about an opportunity I’ve seen.  Of course I can’t guarantee any results and I will also disclose that I have a vested interest in the area affected – Remuera near the motorway between Market Rd and Greenlane roundabout.  I list and sell more homes in this area than any other real estate salesperson.

newmarketviaductgreenlaneTransit New Zealand is in the process of building a concrete noise barrier behind the houses that border the motorway along Lillington Rd.  When the noise barrier is completed it is likely to reduce noise in the area between Lillington Rd/Clonbern Rd and Remuera Rd.

If the noise reduction is significant, there could be a positive affect on the relative value of many of the homes within this area. 

How good is this opportunity?  Time will tell.  One thing’s for sure though, at the time of writing this blog post, a decrease in motorway noise has not been factored into the purchase price of any of the homes in this area.  Until now, I haven’t spoken to any potential purchasers who’ve mentioned the noise barrier.

The barrier is currently being constructed.  Here is a link to the only information I have.  I have requested more information and will add it here as it comes to hand.

Here is some info about the motorway widening to 4 lanes.

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