You're listening to the Weekend Collective podcast from News Talk, said B.
Yes, welcome back to the Weekend Collective. I'm Tim Beverage and this is the one with radio show. Don't forget if you miss any of the hours, we get them loaded up online pretty quickly after each hour concludes. You can go to news Talk, said B, look for the Weekend Collective or to iHeartRadio. In fact that I think that that that little bit of Bob Man there, I think that might be the first time we've played near Bob Marley on the show, which I'm almost ashamed to say.
As soon as I heard it, I was think, I don't think we've had that. But the songs, we often let our guests choose the song, and that song was chosen by a new guest we're having on the show for this hour, who I'm going to introduce in just a moment, but we're going to have a chat initially about CVS. SO CVS and Auckland came out last week and there were basically many people surprised to see their
properties are valued about nine percent less on average. There were some people who went up a bit I think actually funny enough, I went down exactly nine percent, and I couldn't give two hurts about it, but there were plenty of people. There was quite a lot of conversation about it, what it meant for buyers, expectations, sellers, expectations,
attitudes towards prices. Even though many of the guests I've had on the show will tell you if it comes to, you know, getting an appraisal on what your property is worth, the CV's not worth very much. Well, maybe the two words are very much, how much very much? Is it worth much at all? And should they have any bearing on it? Should there be a different system? But do you care about your council valuation? And what effect do you think it will have on the market. We'd love
to get your calls on that. On eight hundred and eighty ten eighty. Anyway, as I mentioned, our song three Little Birds by Bob Marley was chosen by a new guest. He's managing director at Harcourt's Cooper and Co. And his name there's a hint there with the Cooper. It's Martin Cooper GEO. Martin, How you going very good, very good? Thank you, Nice to have you in the studio. How long have you been in the real estate game.
For Oh well, I sold my first house in nineteen eighty three for thirty four thousand, five hundred dollars.
You mean you mean you owned the house or you were agent?
As an agent my first sale back in McAndrew Bay, down in Dunedin. So I do Korea nights, And I often say to people entering the business, so who wasn't born in nineteen eighty three? And there's a wave of hands. So funny. For the first first ten years I was the youngest person in the office, and maybe my last ten years I'll be the oldest. So you go through transitions.
Wow, thirty four k actually back in nineteen eighty three, I'm trying to think. Was that an expensive property back then?
No, it was a mid range sort of home and Muldoon was our prime minister. We had to wage in price freeze, so interest rates for at seven percent. Eighteen months later they'd gone up with rogernomics to about twenty two percent.
Oh that time, man, Oh my goodness. So actually, what was that like being an agent? Were you was you sold your first house? Was that the start of a career in real estate? NonStop?
Yep?
So you went right through that era, because the calls over the years that I've hosted this show, always there's one that pops up. People say, oh, you could buy a house on Northcote for one hundred and fifty thousand, and somebody said, yeah, I bought one hundred fifty thousand, My mortgage was twenty two percent. How long did that last?
The two Well, yeah, Rogernomic's the free market after a wage and price freeze, moulding government for years, and then off it went right up to you know, it was sometimes eighteen nineteen twenty, but up to twenty two percent first mortgage rates. And I remember a whole year nineteen eighty six selling I sold about forty homes that year, and none of the sellers were happy that year with the sale price because they were selling for less because
interest rates had gone through the roof. They were selling for less than what they wanted. But so there was animosity. There was drama at those times, but you'd see them four or five days later and they'd come across. I remember someone running cross the street to say almost giving me a hug, and he said, I'm sorry, I was so angry when we were signing that contract. But I've never slept better knowing I've got rid of my twenty two percent interest rate mortgage. You know the burden of
that reoccurring amount. So but look, whether it's a good market or a bad market, there's always people need to be acting.
So that actually, how many propitis did you sell in eighty six?
Did you say I personally sold? I just did forty.
That it sounds like quite a good success rate.
Is that I enjoyed real estate. I found it before that I was a sales rep, proficient pike or great company to work for. But it didn't matter if I was good, bad, or average. I just got my salary every fortnight.
What's the worst year you've had in real estate? I mean, we don't want to focus on negatives, but I just thought we're talking about twenty two percent interest, angry customers, and yet you sold quite a few properties. What's the worst year I've been for you or for the market that you look back and go that sucks.
Well, it's a weird thing. I'd have to go back to February, February, March April of twenty twenty three. So you'd think after being in real estate for so many years that i'd have it nailed and know what I was doing, but I just bought a whole lot of offices up in the Rodney are And then we had that big flood cyclone drama. We had repercussions of the labor government borrowing that ninety seven point five billion dollars,
so we had the cost of living crisis. Interest rates were going up, and I was losing a substantial amount of money, and I remember my accountant saying, you know that war chest we put away. If we don't turn this around, we're going to run out of money. And I just thought, this isn't what I signed up for. I should be at the what year was this? This is back in twenty twenty three. The volumes were very
very low in the Auckland market. Not sure our core market four hundred and fifty sales would be the average right across all the industry, you know, all the agents, and there was a couple of months there was under one hundred and seventy one hundred and seventy six one month, so we're all dishing out the pizza pie, you know, to get the meal from. There was very very little
going on at that time. So that's my most recent memory but hey, overall, it's been a great industry to be in and been a pleasure.
Hey.
Look, as I mentioned to the callers on and eighty, so the cvs are Auckland and Lock cvs. Auckland's had its big announcement with those those having changed. I confessed I fell for the hype and I went straight onto the Auckland Council Valuation website to find what my property, our property was worth. But I did hear a lot of chat that people were upset that their properties had fallen in price and what it means for sellers and buyers. What's your take, Martin on just the relevance or the
lack of relevance of council valuations. Well, because theoretically versus emotion, I guess because you know people's you might say to me, sorry, I've chopped you off before you started. I thought i'd flesh out the question people often say. And on the shows I mentioned and the core logic people, et cetera, and everyone will say who has a bit to do with valuations? That cvs have very little to do with
it in terms of putting any stock in them. And yet it seems that there's still a number that people pay attention to. So what role do they play there? We go, I'll shut up, now it's over there.
Well I think okay, firstly, if we look at just overall data, okay, it's it's an evaluation so that you can have at tax on your property. So if we look at Auckland, for example, there's in the Auckland Greater City area there's six hundred and thirty thousand radable properties, so every three years they've got to be valued. So it's a massive task. But no one it's all done online, you know, just algorithms and it's not.
Like someone walks past your property and has a walk around and it's the paint.
And what happens. No, they haven't. No one's been to my house to check it out. So that and from those rates like the Auckland City Council just their their ratable income is I think was two no year, two hundred and forty billion dollars they collect off the rate payers of Auckland. So if you're going to live in the same house for forty years and you've got a very low rateable value, you could be disappointed because it might affect some buyers and impression of what your value is.
Oh yeah, but if you're paying out the rates, just sit on that low valuation because you're going to pay less rates.
Well, see, that's that's the first thing. It affects how much rates you play. So, for instance, I'm my house is valued at I would say we live in one of four units, so and that you know, the goods pretty big size, one hundred and eighty square meters probably you know, total from up and down. But my neighbor's valuation is fifteen, maybe even twenty percent in one of their cases, cheaper than mine, And so I'm paying more rates?
Should I? Actually I've had different opinions on this, but one real estate person told me, he said, don't haggle it down. Don't don't complain, because one day you might want to sell your house and you'll you'll have put it out there that it's not worth as much as the neighbor.
You know.
Well, yeah, you can't have both ways, because if you've got to, if you're thinking of selling these four or five years, leave it high because I'm not No, Well, if you're staying for a long time, because your neighbor, if he's paying twenty percent less than you, are. He's still going to have the same transport infrastructure that you use. He's still going to be able to go to the same park. And maybe you produce a lot of rubbish, you.
Know, because well I do have a couple of kids. Yeah.
Well, you know, the council collect your rubbish, your waste management. You get the water, maybe drink a lot of water, you know, big baths or something. But and your environmental incentives. They want to have clean, green spaces. So your neighbor's paying effectively help you paying twenty percent, you know, proportionately less than you about getting the same services. But hey,
look it's fascinating. And Wellington, what Wellington, we saw a twenty three percent reduction, you know because of all the civil servants of Frelington. But the races have come back, so we actually saw a big reduction there. Queenstown it's got its own economy, it's it's microclimate.
You know.
With international buyers coming in, they actually with twenty percent higher. So look, I tell you, if playing the role of a salesperson, you can go and get data. You can go and just hunt through all the rateable values as opposed to what they sold to. And I could I going you twenty five sales just online and say look, hey, damn, look at these These sold at thirty percent above, you know, so you that's the sort of zone. And then you go the other way and get get a whole lot
of other data that's sold at twenty percent below. So you're just it's just not a reliable You should get a proper valuation, use comparative sales for expert advice rather than just what the rating value is.
As does the recent council valuation. On average, it's dropped the value of property down nine percent. Does that I mean, is it simply a reflection of the fact that where the market is or does that in itself have an effect on how people perceive property values because the council are basically downgraded the whole stock by nine percent.
Oh there's people always.
Bad news for sellers.
Yeah, yeah, it is for sellers, just another reason the buyers will want to beat them up, you know, and say, look, the raidable values come down, but hey it is. It is a fact. If you bought a home on the peak of the market back in twenty twenty two, yeah it was realist. I told you twenty twenty three. I didn't enjoy it. But as a business owner of real estate Company twenty twenty two, was it loved it. Real
estate heaven, you know. But what would happen is people had fomo missing out and sellers were getting some tremendous prices. So the buyers that think, oh, thank god I secured a property. The sellers think, thank god I sold, I've got such a great price, and it was all come by our happy days. But the raidable values, the prices went up, so the radable values would have gone up. But since then property prices, particularly in Auckland, have come down.
So the council has to say, well, based on that sale, that sale, and the algorithm algorithm just runs through and says, yeah, these properties are selling for less, so that the rateable values have to come down, but the scale charges of the rates they won't come down. I'll just move the scale up.
I'm always amused because I know the address of one of New Zealand's richest New Zealanders and I often look at what he pays for his rates, and I think his rates bill is one hundred and nineteen thousand dollars, and I don't even think he gets an extra bin yeah, yeah, I mean because it's I mean it is. It's a form of wealth tax in a way, isn't it, Because.
Well, I've got twenty twenty branches, right, so, and I've got it. Over time, I've treated real estate as an investment for retirement saving. So I've got some commercial properties and some apartments. So I am a VIP client in my opinion of the Auckland Council because I work out on the twenty Because as a tenant in a building, I have to pay the op X operating expenses, and if I'm renting out an apartment, I still have to pay the rate spell. So it's quite horrific how much
of an expense that is. So the guy in the rich list, all he's doing is helping all of us because he's paying one hundred and six grand per anam for the same service as someone in a little modest one bedroom apartment.
You think you could get an extra bin for that, wouldn't you. You'd think, well, could I have an extra bin please? And well that's going to be extra.
Could I have a wee bit of the park that you look after for me exclusive for me or something like that? Or could some function or something.
Yeah, yeah, I imagine this person doesn't get invited to a few functions, but hey, look we want your calls. Eight hundred eighty ten eighty. Do cvs matter for you as a buyer, a seller, or even just as a homeowner? Does it offend you? That's suddenly the property the council evaluation you'd be looking at, going look at what my house is worth?
Is what?
Hang on a minute, hasn't gone down ten percent? What's happened? Are cvs relevant? Do they matter? But also do they effect the way that you transact in the property market, whether you're a buyer a salad? What do you reckon your reckons? On? Eight hundred eighty t and eight. My guest is managing director at Hardcourts Cooper and Kurtz Martin Cooper. First time on the show twenty two past four News Talk zed B News Talk z B with the Timberbris is the one roof radio show. My guest is Martin Cooper.
We're talking about cvs. They came out last week. Aukme to. Homeowner has been checking their's a few surprised to see their properties now valued nine percent less on average. Does it matter? Does it do you care. We're taking your calls. Eight hundred eighty ten and eighty Graham, Hello.
Hi, how are you doing good?
Thanks?
I'm an Auckland homeowner. H My rates assessment have shifted from one million dollars down to six hundred and eighty thousand dollars.
What one million to six hundred and eighty thousand dollars?
Yep?
Did that offend you? Upset you? What was your reaction to that?
Just just a tiny bit? I mean, I don't mind the idea that the rates if it's applicable, but I honestly don't. I don't think the system is robust enough at the stage, and we've certainly put our objection in. But it just seems overtly annoying that to shift significantly from that number's about thirty percent reduction?
That actually, that is a colossal reduction. How actually, let's Bran Martin, How would that happen that much?
That seems Oh no, Graham, you should be appealing that. I don't see thirty percent reduction on any Auckland the state. You're talking about a residential property, so that would have been quite a shock.
It's part of a unit block is twenty two apartments in the facility. There are some one bedroom units. Ours as a three bedroom much larger, But I have a funny feeling they've mixed up for one bedrooms which are a lot small about adiold square metis versus ours, which is a significantly larger unit. But it's one I'm saying about the robusters of assessments.
Have you checked have you searched your neighbors the other two bedrooms to see what they're worth? And then does what does that say?
I haven't. They haven't come up as done yet. No, I have not done that yet.
No.
Okay, yeah, I think Graham, you're onto a mistake there.
What if your rates are a thousand bucks cheaper? I mean, what if how much would you pay extra and rates just to get that value back up?
I honestly, we don't know that yet. Of course, until the next a lot of weights come through the system. Because I just say that, you know, the rates of such won't change. But the problem is is my my body corporate expenses will not reduce significantly, So I've still got all of those to manage and take care of. And but the rateable value really puts a line in the sand about if I was to sell.
Yeah, no, Graham, it wouldn't be the case that you know, if you've had a million dollar apartment dropping down to six hundred. I mean it's a it's a unit title with a body corporate. It's not a leasehold, a leasehold situation something.
No, no, no, no, it's a unit title.
Yep, you should be fine. Hey, what you can do? Agents? Real estate agents are very hungry for new clients and contacts. You could ring any agency and just ask, just say, hey, I want to get it up to date appraisal of the value of my property. It might find it reassuring that they would give you comparative sales analysis and you could reassure yourself that your equity hasn't gone down by thirty percent.
When did you buy it, a Graham?
I bought it back in twenty eleven, three days before we won the World Cup, and.
Then prices boomed. We used to I used to when I first started selling real estate, Graham. I used to get anxious. I was sew into rugby myself. I thought if we lost a Test match it would be detrimental to the market.
But yeah, did you do you remind me asking what you do you remind me asking what you paid in it back, because that's fourteen years ago.
Now it's four hundred and fifty two a thousand.
Okay, well, yere, you would be upset with it dropping from a million to six. That's quite expensive, doesn't.
I mean, well, it was quite expensive. There was certainly about fifty percent above the CV of that time. But but I guess my point. I guess where I'm sitting. They're not going to get too anxious. I just want to see how the redress program goes through their their rates process. That if it comes back and they say, oh, yes, it's a genuine mistake, we'll write it. But beyond that, then I will have a bigger issue to deal with. Yeah.
Yeah, Well, if it's beyond that, just call a real estate agent that you like and trust. They can do an analysis of other sales for you, which might help if you want to get it get it back up.
Oly. Look, thanks, gentlemen, Yeah, cheers.
I imagine the thing would be for I mean, the other thing is if they're still updating the data for the other units in his block, wait for that to come out, and there may be a really simple answer, because if it turns out that say, you know, there are the other two bedroom apartments are about eight eighty or so, let's just be you know, eight eighty or nine hundred. Then he and he's obviously been there. That's clearly a mistake. Yes, although that is a mass.
That's why look at the start of this, don't worry. Every little thing's going to be all right, you know, but a bold mary, but you know, like do the investigation. It sounds like a mistake there. But you know, you hear that, you think, oh my god, my equity. I was going to look at whatever you're heating to retirement. You think you've got that money in the bank, and
then you're here you're not. But that might be a lot of fuss over just a mistake because as I said, six hundred and thirty thousand properties, they have to assess a rateable value just in the Auckland catchment. So there's going to be mistakes for sure.
Do you know how the process works when it comes to objections? Do they I mean, I mean, are the ejections looked at by a real person or would they use AI or so for instance, if I wrote for mine, I'm sure mine is valued at more because we are at the end and the land that is next to it. I wonder if they assume that that's my land where it's not. It's all shared. You know, I've even got a neighbors, got a clothesline.
Oh yeah, but they might like you'll get to definitely get a premium for an end. You're doing one of four if there's two medals and two ends, okay, so you probably find the guy or the capable family at the other end saying.
It's a bigger the one at the end. It was one of those ones where I'm sure that the person who built it the front one was for the owner and the threat at the back was for the for the rentals, and they've gradually become But theirs is definitely worth more and I can that's you know, it's significantly bigger. So yeah, taking your calls on it. Though I wait, one hundred and eighty ten eighty, what do you reckon
about the about the council valuations? Something you mentioned just before, Martin about talking to a friendly real estate agent about appraisals. I mean, I'm not talking about getting something for nothing, but can can you get a real estate agent even if you're not thinking of selling, just saying, look, if you're in a neighborhood, I wouldn't mind an appraisal. And what do they do? How does that work? Well?
I just I went down to visit my mum and dad in Queenstown and they just on Wednesday. Because dad's ninety two and mum's eighty eight. They live in I don't know if I better. They live in Park Street in Queenstown's right near the botanical gardens, right near the center of town. Yeah, I won't say their address, but anyway, they had some agents and Mom said, oh, they were
so nice. You know, they came, they offered to come, and they've come and done a full appraisal, valuation, beautiful presentation and sat with them and ran through it and Mum said, right up front, unsolicited, Yeah, unsolicit. They just were ringing saying, oh, we're doing up to date appraisals, would you like? They're not they're not keen on shifting. But obviously the agents are building, rapport building and if the time comes, it might be five years. Whenever it is,
the agent's done the appraisal. So there's no problem whatsoever for anyone who's concerned to a real estate if you like someone trusts someone in your local community. Just ring the agents say could you come and do an appraisal, and you can say, look, I'm not really thinking. We're just weighing up our options. You know, don't be open with them that you just want to get it. You're thinking about your options. You're wanting to know what your
property's worth. You don't say I'm selling in a week. You know you but but.
You don't need to make up a story. Just say, look, we want to have a think about the future, and we're just getting ahead of things. You know, what do you think We're not selling at the moment. But if you're interested on.
The agents, I'm sure the good agents will come around. Give you the time, give you comparative analysis, have a look at your property, and give you an up to date because it's far better than an algorithm. There's some computer whirling away telling you what your front, your apartment, your property's worth. Yeah, it doesn't compare to physically coming looking what improvements have you made, how well is it kept, what the carpet conditions, your kitchen, everything about your home.
Actually I wondered if they are because we did object successfully a few quite a few years ago. I objected because we had we we'd done okay, we had we had under underneath our place. It was just car poards. It was ten minutes deep both sides, so truckload. So we turned the back and we had consent. We had a consent lodged, and I wonder if that entered the figures. And I wrote them and said, we haven't done that yet, because I think they priced it up as a four
bedroom home. And I always wondered with the whether they've suddenly gone, oh, he's got it done by now.
Surely you might have the red flat. The computer's got you with a red flag.
There's trouble with that. We'll get this guy back in a few years time. Let's take some more calls. Were we up to Liam? Hello, good good.
Yeah, it's a scenario I've just kicked on the computer the other day when they came out. The start of it was five million dollar, yeah, and it was. And then we got it and it came down. We got it refused down for reasons that the Rating Commission ratings people change the letterbox on the next door neighbors CROSSFLFS house to a one A and we're a one and we said, oh, that's not right. You can't do that because they were twenty seven off another street negative a thing.
So we got it reduced to under four to one. The new rating came out and it's the land values gone down three hundred thousand dollars, uh huh to three eighty five, and then they put the house value up seventy five thousand, and I thought that's a little bit odd. I've never heard of land value going down three hundred on whatever the calculation is. It was it the hundreds of thousands, and I just thinking you were saying, that's an object to that.
Yeah, where you go Marp?
Yeah, absolutely, Yeah. The oh system it's just online. You can go online and put in.
You it's got to be in by the twenty fifth of the June or July, does it?
I don't know the dates, but if you go onto the it's a website and if you can find your way through it, it's got I haven't checked myself.
But the date, so they're sure. I got a set. If that came down three hundred thousand dollars four hundred thousand dollars, does that mean we pay.
Less No, Unfortunately.
What happens. See, because I guarantee you that Auburn rates haven't come down by nine percent, even though overall values the.
Pel stays the same. With that, it's just the way they are portionate. I guess if he gets his down, his will rates will come down, just because comparatively he's in a different pace.
Yeah, it would come down.
Yeah.
On your own an apartment downstairs, they charge us times to times to recreational times, to waste management times to or whatever it is. Because it's a rental property. It's a bigger part. It's a big house with its own entrance and kitchen down stairs. I used to call it.
Yeah, well you'll get two bins then, won't you.
Yeah, we've got two burns. Yeah, Lucky sort it out. Yeah, two recyclers to waste here.
Yeah.
But there's just the more tax that you're paying. There's a GST on everything. Is you've got your tack, Yeah, yeah.
I just thought there was an extreme amount of money for a land value to go down versus house value.
Yeah that is, Yeah, that that is. But if you're concerned about it, you just put put in your reasons. If you want it to get back but you so you went from five.
They haven't they haven't redeced. What they haven't released is the amount, the figure that you have to pay it. Where's that available? Ah, that's not available online. You can't see how much it's gonna I don't mind if it goes down, because it's not not a drama if the price is down. But I don't want to be going down that far and paying virtually the same. I'd object to that. I'd say it comes down. It comes down.
At the moment it's ten thousand plus rates per anum, so it's kind of under tent as far as I'm concerned.
Okay, well, well, good luck with that. Obviously you're not looking at selling any time in the future there where you're wanting.
To keep your valuerability. But I mean, if a real estate agent was to ring me and start bringing up the cvs, he'd come around. You know, he'd get an air full of it, because that's a pretty nasty thing for a real estate agent to start scanning through new cvs and finding lower ones and then coming in. It's like you'd say no, no, no, no. Like that other guy that rang up just before about his apartment. If
he was to sell it. He wouldn't sell it for six hundred and so now I want the PA millionaire, you know, I think it's worth you can, you know, And they and then some of real estate agents are bit slight on it, and they'd come in and come in with the new figure and start bleating about the new CV. You know, So that doesn't that's not in the equation anymore.
Yeah, yeah, a.
Good thing though, as you were the boss. You're the one that signs the contract, not the agent. So you you you.
No, that's just a little hint that we're going to the break, I think, is it must be? Yeah, I think I think that's a little hint we're going to the brook. You can first what you're saying, what we're saying.
It just said, Really it wasn't.
It strange muslude. We'll make sure it's slightly more so.
Yeah, you're the boss, the vendor, the seller's the boss, the agent. Just that if you sign a contract, you agree with it, that's good, but you call the shots, which is a great way to be.
Right where with Martin Cooper from Harwarts, Cooper and Co. We'll be back in just a moment talking about seed c v's how much do they bother you that your CV might have gone down a bit or do you just sort of think, oh, well, that's life and you go back to the Bob Marleish song we started with it. They don't worry about a thing. Everyone's going to be
all right. It's twenty to five news talk, said b Well, yeah, I got over a little bit of the Beach Boys that they're following the news of the death of Brian Wilson. Amazing songwriter, a bit of a genius is according to many people, probably including me as well. We're with Martin Cooper. We're talking about cvs and whether they're relevant and what you make of your new house value according to your local council and Stephen Gooday, yeah.
Hi Martin.
We live on the outskirts of christ Church rurally.
We've got by Baker blog.
There's talk about a subdivision being putting locally down the road with up to seven hundred houses in it. What's that going to do to about property value? Is it going to go up down or stay the same?
Usually your value will go up. You know, when you get more density around, you're going to get more amenities. Like my wife and I purchased properly eighteen or nineteen years ago out near Coatsville, sort of dairy flat area. And since then, the Albany Mall's gone in, the Silverdale Town Center's gone in, and now there's all subdivision around us, So more people moving in, more desire potentially. You did
you say you had five acres of land. Yeah, well, some people get surrounded by other homes and then it's valuable that you could cut your site up into later on. If this higher density going in around you, your land value might surpass what your your actual home value is on the property. So you can get financial gain by
doing a subdivision of your own place. That's a possibility, but an agent would we can't subdivide, Okay, yeah, but yeah, invariably you've still got five acres, you've got a buffer zone, but you're gonna have more amenities around you. So generally you would see that would improve your value. But the other thing is it's peaceful where you are, it's rural, and you might think, oh, I don't want a whole
lot more traffic and a whole lot more people. So what we find is quite often people will move further out, further away if they want peace and tranquility without a whole sort of suburban situation around them. But your value should go up.
That's what we moved out here for peace and quiet, and it seems to be following us. Yeah.
Well, I'll tell you what the good thing is. You're in a desirable location where people want to be, so your real estate will go up in value with all that development happening around you, and that'll give you more money. But the trouble is you might have to go further out to get away from the noise and the construction. And you know, but your money will have more buying power if you go further away.
Yephal good stuff. Thanks for your course, Steven, cheers mate, Okay, thanks very much. Hi guys. There's a couple of texts here. Hi guys, I live in Snail's Beach. All property rates appear to unchanged and I have added a minor dwelling. It hasn't changed. How does that work? They probably don't know about it, I guess do they, Martin?
Uh?
Yeah, they won't have matched the records. So hey for that text. Person coming in if you if you want to get your value up, if you're thinking of selling well, just tell them, hey, I've spent money, it should be worth more and that'll lift it for you.
So long as you want it up. You got to ask yourself why you want the value up, of course, and if it's because you know you want to feel flash and you're thinking of selling.
If you don't stay under the radar and just enjoy lower, lower rates.
Gilly has texted saying high tim reratable values. If you get a building consent for renovations, that info is sent to QV this may affect the improvements value on your rateable value. Cheers. Do you mean anything about that?
Anything to add No, I think memory it's once the work's done, you know the permits granted, then it would trigger the higher value anticipated improvements.
And okay, afternoon. About five years ago and Gismond, we bought a house for two ninety five RV one sixty five. A month later, the council increased the RV dramatically for other properties maybe thirty percent plus hours only went up five percent. I complained. Council guy came around, was there five minutes? He said, no problem. Increased our evaluation same percent as the neighbors. He said it was because we've
got it for much less than the RV. They assumed there was a problem with the house and they were happy to charge extra rates.
I guess yeah.
I wonder if they pop your rates up, because does it mean that somewhere along the line they've reduced someone else's or they just go, well, there we go, let's take the extra rates.
Yes, I are the same theory about weight. You know, if you lose some weight, if you lose five kilos, that's good, bit of fat goes, But where does that fat go? Someone else gets it. It's the same with raidable values. If someone loses evaluations someone else, they have to pop you up, and that might be they might be picking on you because you did that car board thing.
Yeah. Anyway, Hey, look we'll be back in just a moment. It's eleven minutes to five new stalks. He'd be And today we have Hannah on the line, our Razine color consultant. Hey, Hannah, what are the top colors on trend now?
In terms of neutrals, there's the classics like black white and sea fog, which need to go out of style. We're also seeing soft and warm neutrals coming back into play, like raisine corded tea. So the color lovers Ierfie Hughes is still in, but we're seeing a bit more vibrancy with it, like for example, Rasine Sarahtoga, which is a really lovely orange, and then it's beautiful greens like rock Spray.
Okay, how can I make a color palette that really suits my personality?
You can always t inspiration from what you love and look to what brings you joy. A great tool on our website is the Razine Color Palette Generator. You can upload an image of a photo you love or a piece of art that you adore, and it will give you colors from the image. There will be about ten to twenty, so it's a great starting point for putting it a steme together brilliant.
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The one roof Quantity of the week on the Weekend Collective, Yes.
And the one ruth Probably the week's an interesting one is thirty two Bays Road already points in Monaco City. It's something I think it's in here because it's also looks like it's reasonably affordable. You might get a bit of bang for your buck. Apparently, priced eight hundred and eighty thousand, it's described as a coastal treasure close to beaches, far from crowds. It's got a renovated kitchen, country views,
immaculate finishes throughout, exceptional quality and thoughtful upgrades. So it's described as being lovingly added over the years. Actually, it does seem like quite a lot of House Martin Cooper from Harcourt's Cooper and Co. What do you make of it? House Lighthouse.
It'd be interesting to see what the raidable value is. Can we while we're talking.
Oh damn it, you know what? You keep talking and talking, I'll quickly.
Do it if you get onto one roof and just search the address and have a look at it. If you're looking. It's three bedrooms, it's just got the one bathroom, but good garaging. It's rural. It's got that sort of lockwood ceiling look about. I love that, you know that you get that rich timber, but knotty in it's got the pitched roofs. And I'll tell you what, I just bought a new stove for my house. Like all that has got a luxury guess.
Well, use flash. Interesting the capital value it is was six thirty now it's five ninety. What that's that's interesting. They won't be very happy with the accounts of evaluation if they're because what I'm seeing here is they're seeking eight hundred and eighty for it.
So well, i'll tell you what. For eight hundred and eighty, it looks good. And if you're paying exorbitant rates where you are, I'd sell up your place, tim, I'd be getting down to have a look at this one.
Well, actually that it just focuses on I'm sorry to our property of week because we're about to give it a peck on it a bit. But it's if it's priced at eight eighty and its capital value is now what did I say? It was five ninety. That's this is where the rubber hits the road, isn't it when it comes to buyer expectations and selling it.
But if you're a buyer, you turn up, look at that rural setting. They've got the double car port, you've got the storage, you've got you've got space around you. That looks every bit of eighty's rural. No, it is so peaceful. So and the main thing look for buying a house. You can look at the ratable value. But some people have lost out on a home they would have loved because they thought the ratable value if they if you like something and it feels good, you should
just and you can afford it. I always say, just go for it. It's what's it with to live in a home you love and have a look at that drone view.
This is why even when times were tough, you that properties were walking out the door went they made yeah, yeah, hey, just quickly. How quickly can you or an experienced real estate agent, You can get valueism and you can do a detailed analysis of a property, But how quickly if you walk into a property in your neck of the woods. When you know the market, how quickly do you are you able to assess a value and go, you know,
and be reasonably confident. Can you literally walk up and knock on the door and go, I reckon, it's about one point three.
Yeah. Look some of our agents that got an on board computer, you know, because they'll go and look at ten or fifteen homes a week and then we're in the auction rooms and you see, you see what stuff selling for, so you get tuned in. But you've just got to make sure that you're like because your land is your main primary value of any real estate. So if you're in a top location, your land value is higher.
So sometimes people get out of area and they muck up a price because they're you know, if you're a Remuera based agent you go to pray something potentially, say on the north Shore, where there'd be difference because of the underlying land value, you can get a few mistakes.
So you want to get a local agent. A local agent who works at farm or target area should be able to have a onboard computer, pretty quick assessment, and then they would back it up by getting the data of what other places are sold for comparable sales.
Good stuff. And of course I mean I think we know how to get in touch with you. You at your business, don't where it's hard Courts, what is it? What is the web address for it? Hardy?
You just just google Hardwourtz Cooper and go, we'll pop up. And that's the interesting thing about real estate now, you know the one roof it was the Herald. You know, back when I started, you just have the little run on ads in the Herald.
That was it.
That was your marketing tool for real estate.
We didn't even get onto different ways of marketing. We'll have to have we'll have to have a chat about that next time.
We'll wait now, yeah, as well as time to go.
Ok, good to see him, mate. And by the way, if you've missed any of the hour and you want to go and check it out, look for our podcast, The Weekend Collective. We'll be back shortly with John Cown for the Parents Squad. This is News Talk Said B.
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