June 14, 2025 • 42 mins
Homeowners in Auckland might be shocked to see their properties valued 9% less than last year.
How concerned should they be?
Tim Beveridge is joined by Harcourts Cooper & Co Managing Director Martin Cooper.
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Speaker 1 (00:05):
You're listening to the Weekend Collective podcast from News Talk,
said B.
Speaker 2 (00:48):
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
(01:08):
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
(01:30):
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,
(01:52):
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
(02:14):
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
(02:35):
long have you been in the real estate game.
Speaker 3 (02:36):
For Oh well, I sold my first house in nineteen
eighty three for thirty four thousand, five hundred dollars.
Speaker 2 (02:44):
You mean you mean you owned the house or you
were agent?
Speaker 3 (02:47):
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
(03:10):
ten years I'll be the oldest. So you go through transitions.
Speaker 2 (03:14):
Wow, thirty four k actually back in nineteen eighty three,
I'm trying to think. Was that an expensive property back then?
Speaker 3 (03:21):
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.
Speaker 2 (03:35):
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?
Speaker 3 (03:47):
Yep?
Speaker 2 (03:47):
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?
Speaker 3 (04:04):
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,
(04:26):
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
(04:48):
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.
Speaker 2 (05:05):
So that actually, how many propitis did you sell in
eighty six?
Speaker 3 (05:09):
Did you say I personally sold? I just did forty.
Speaker 2 (05:13):
That it sounds like quite a good success rate.
Speaker 3 (05:16):
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.
Speaker 2 (05:28):
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.
Speaker 3 (05:45):
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
(06:07):
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
(06:27):
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
(06:48):
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
(07:10):
be in and been a pleasure.
Speaker 4 (07:13):
Hey.
Speaker 2 (07:14):
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
(07:34):
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,
(07:58):
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
(08:20):
pay attention to. So what role do they play there?
We go, I'll shut up, now it's over there.
Speaker 3 (08:24):
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,
(08:48):
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.
Speaker 2 (08:56):
Like someone walks past your property and has a walk
around and it's the paint.
Speaker 3 (09:00):
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
(09:21):
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.
Speaker 2 (09:34):
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
(09:55):
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
(10:15):
it out there that it's not worth as much as
the neighbor.
Speaker 4 (10:18):
You know.
Speaker 3 (10:18):
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.
Speaker 2 (10:39):
Know, because well I do have a couple of kids. Yeah.
Speaker 3 (10:41):
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,
(11:02):
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.
Speaker 5 (11:20):
You know.
Speaker 3 (11:20):
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,
(11:42):
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
(12:04):
than just what the rating value is.
Speaker 2 (12:06):
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.
Speaker 3 (12:30):
Oh there's people always.
Speaker 2 (12:31):
Bad news for sellers.
Speaker 3 (12:33):
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
(12:54):
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
(13:16):
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
(13:37):
scale up.
Speaker 2 (13:38):
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.
Speaker 3 (13:57):
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
(14:18):
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
(14:40):
because he's paying one hundred and six grand per anam
for the same service as someone in a little modest
one bedroom apartment.
Speaker 2 (14:48):
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.
Speaker 3 (14:56):
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.
Speaker 2 (15:05):
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?
Speaker 4 (15:25):
Is what?
Speaker 2 (15:26):
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
(15:47):
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.
Speaker 4 (16:08):
Hi, how are you doing good?
Speaker 2 (16:09):
Thanks?
Speaker 4 (16:09):
I'm an Auckland homeowner. H My rates assessment have shifted
from one million dollars down to six hundred and eighty
thousand dollars.
Speaker 2 (16:18):
What one million to six hundred and eighty thousand dollars?
Speaker 4 (16:23):
Yep?
Speaker 2 (16:24):
Did that offend you? Upset you? What was your reaction
to that?
Speaker 4 (16:27):
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?
Speaker 2 (16:48):
That actually, that is a colossal reduction. How actually, let's
Bran Martin, How would that happen that much?
Speaker 3 (16:55):
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.
Speaker 4 (17:10):
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.
Speaker 2 (17:33):
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?
Speaker 4 (17:41):
I haven't. They haven't come up as done yet. No,
I have not done that yet.
Speaker 5 (17:46):
No.
Speaker 3 (17:47):
Okay, yeah, I think Graham, you're onto a mistake there.
Speaker 2 (17:51):
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?
Speaker 4 (18:02):
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
(18:26):
the sand about if I was to sell.
Speaker 3 (18:29):
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.
Speaker 4 (18:46):
No, no, no, no, it's a unit title.
Speaker 3 (18:48):
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
(19:10):
could reassure yourself that your equity hasn't gone down by
thirty percent.
Speaker 2 (19:16):
When did you buy it, a Graham?
Speaker 4 (19:18):
I bought it back in twenty eleven, three days before
we won the World Cup, and.
Speaker 3 (19:25):
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.
Speaker 2 (19:37):
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.
Speaker 4 (19:43):
Now it's four hundred and fifty two a thousand.
Speaker 2 (19:49):
Okay, well, yere, you would be upset with it dropping
from a million to six. That's quite expensive, doesn't.
Speaker 4 (19:56):
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,
(20:17):
it's a genuine mistake, we'll write it. But beyond that,
then I will have a bigger issue to deal with. Yeah.
Speaker 3 (20:24):
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.
Speaker 4 (20:37):
Oly. Look, thanks, gentlemen, Yeah, cheers.
Speaker 2 (20:41):
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
(21:01):
nine hundred. Then he and he's obviously been there. That's
clearly a mistake. Yes, although that is a mass.
Speaker 3 (21:08):
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
(21:28):
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.
Speaker 2 (21:41):
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
(22:02):
it's not. It's all shared. You know, I've even got
a neighbors, got a clothesline.
Speaker 3 (22:08):
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.
Speaker 2 (22:21):
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
(22:42):
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
(23:03):
do they do? How does that work? Well?
Speaker 3 (23:04):
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
(23:27):
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.
(23:49):
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
(24:09):
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.
Speaker 2 (24:26):
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.
Speaker 3 (24:35):
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
(24:56):
looking what improvements have you made, how well is it kept,
what the carpet conditions, your kitchen, everything about your home.
Speaker 2 (25:03):
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.
(25:25):
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.
Speaker 3 (25:34):
Surely you might have the red flat. The computer's got
you with a red flag.
Speaker 2 (25:41):
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.
Speaker 6 (25:52):
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
(26:14):
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.
(26:37):
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.
Speaker 2 (26:50):
Yeah, where you go Marp?
Speaker 3 (26:51):
Yeah, absolutely, Yeah. The oh system it's just online. You
can go online and put in.
Speaker 6 (26:57):
You it's got to be in by the twenty fifth
of the June or July, does it?
Speaker 3 (27:02):
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.
Speaker 6 (27:09):
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.
Speaker 2 (27:16):
Less No, Unfortunately.
Speaker 3 (27:22):
What happens. See, because I guarantee you that Auburn rates
haven't come down by nine percent, even though overall values the.
Speaker 2 (27:30):
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.
Speaker 6 (27:39):
Yeah, it would come down.
Speaker 7 (27:41):
Yeah.
Speaker 6 (27:41):
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.
Speaker 3 (27:59):
Yeah, well you'll get two bins then, won't you.
Speaker 6 (28:03):
Yeah, we've got two burns. Yeah, Lucky sort it out. Yeah,
two recyclers to waste here.
Speaker 7 (28:12):
Yeah.
Speaker 3 (28:12):
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.
Speaker 6 (28:19):
I just thought there was an extreme amount of money
for a land value to go down versus house value.
Speaker 3 (28:25):
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.
Speaker 6 (28:38):
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
(29:02):
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.
Speaker 2 (29:11):
Okay, well, well, good luck with that. Obviously you're not
looking at selling any time in the future there where
you're wanting.
Speaker 6 (29:17):
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
(29:37):
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.
Speaker 2 (29:58):
Yeah, yeah, a.
Speaker 3 (29:59):
Good thing though, as you were the boss. You're the
one that signs the contract, not the agent. So you
you you.
Speaker 2 (30:07):
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.
Speaker 3 (30:16):
It just said, Really it wasn't.
Speaker 2 (30:18):
It strange muslude. We'll make sure it's slightly more so.
Speaker 3 (30:23):
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.
Speaker 2 (30:35):
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,
(31:05):
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.
Speaker 6 (31:27):
Hi Martin.
Speaker 7 (31:29):
We live on the outskirts of christ Church rurally.
Speaker 6 (31:34):
We've got by Baker blog.
Speaker 7 (31:40):
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?
Speaker 3 (31:58):
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
(32:19):
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.
(32:41):
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,
(33:04):
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,
(33:26):
further away if they want peace and tranquility without a
whole sort of suburban situation around them. But your value
should go up.
Speaker 7 (33:34):
That's what we moved out here for peace and quiet,
and it seems to be following us. Yeah.
Speaker 3 (33:41):
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.
Speaker 2 (34:02):
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?
Speaker 4 (34:22):
Uh?
Speaker 3 (34:22):
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.
Speaker 2 (34:38):
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.
Speaker 3 (34:46):
If you don't stay under the radar and just enjoy lower,
lower rates.
Speaker 2 (34:50):
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?
Speaker 3 (35:01):
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.
Speaker 2 (35:17):
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
(35:38):
there was a problem with the house and they were
happy to charge extra rates.
Speaker 3 (35:41):
I guess yeah.
Speaker 2 (35:43):
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.
Speaker 3 (35:51):
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
(36:14):
to pop you up, and that might be they might
be picking on you because you did that car board thing.
Speaker 2 (36:18):
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?
Speaker 5 (36:31):
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.
Speaker 2 (36:55):
Okay, how can I make a color palette that really
suits my personality?
Speaker 5 (37:00):
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
(37:20):
it a steme together brilliant.
Speaker 2 (37:22):
What paint should I be using to paint minterior walls?
Speaker 5 (37:26):
Our first recommendation is space cooat lochine. It's water borne
enamel and it has great durability. It's also describable and
no smelly odors when applying. Alternatively, you can use our
standard acrylic xylon, but space coat lochine is a muscle.
Wet areas in.
Speaker 2 (37:42):
The house and you can use the same product on
the ceiling and yeah, it's good to keep in mind
anything with machine. It's highlights and surface and perfections. You
can get more information from Razine dot co dot nzed.
Speaker 1 (37:55):
The one roof Quantity of the week on the Weekend Collective, Yes.
Speaker 2 (38:01):
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,
(38:22):
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.
Speaker 3 (38:39):
It'd be interesting to see what the raidable value is.
Can we while we're talking.
Speaker 2 (38:43):
Oh damn it, you know what? You keep talking and talking,
I'll quickly.
Speaker 3 (38:47):
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
(39:09):
has got a luxury guess.
Speaker 2 (39:11):
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
(39:32):
eight hundred and eighty for it.
Speaker 3 (39:33):
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.
Speaker 2 (39:42):
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.
Speaker 3 (40:03):
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
(40:23):
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.
Speaker 2 (40:37):
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,
(41:00):
and be reasonably confident. Can you literally walk up and
knock on the door and go, I reckon, it's about
one point three.
Speaker 3 (41:07):
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.
(41:29):
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
(41:50):
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.
Speaker 2 (41:58):
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?
Speaker 3 (42:06):
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.
Speaker 2 (42:21):
That was it.
Speaker 3 (42:22):
That was your marketing tool for real estate.
Speaker 2 (42:24):
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.
Speaker 3 (42:27):
We'll wait now, yeah, as well as time to go.
Speaker 2 (42:31):
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.
Speaker 7 (42:44):
What's done?
Speaker 4 (42:45):
Then?
Speaker 1 (42:48):
For more from The Weekend Collective, listen live to News
Talk Said B weekends from three pm, or follow the
podcast on iHeartRadio.
You're listening to the Weekend Collective podcast from News Talk,
said B.
Speaker 2 (00:48):
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
(01:08):
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
(01:30):
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,
(01:52):
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
(02:14):
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
(02:35):
long have you been in the real estate game.
Speaker 3 (02:36):
For Oh well, I sold my first house in nineteen
eighty three for thirty four thousand, five hundred dollars.
Speaker 2 (02:44):
You mean you mean you owned the house or you
were agent?
Speaker 3 (02:47):
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
(03:10):
ten years I'll be the oldest. So you go through transitions.
Speaker 2 (03:14):
Wow, thirty four k actually back in nineteen eighty three,
I'm trying to think. Was that an expensive property back then?
Speaker 3 (03:21):
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.
Speaker 2 (03:35):
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?
Speaker 3 (03:47):
Yep?
Speaker 2 (03:47):
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?
Speaker 3 (04:04):
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,
(04:26):
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
(04:48):
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.
Speaker 2 (05:05):
So that actually, how many propitis did you sell in
eighty six?
Speaker 3 (05:09):
Did you say I personally sold? I just did forty.
Speaker 2 (05:13):
That it sounds like quite a good success rate.
Speaker 3 (05:16):
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.
Speaker 2 (05:28):
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.
Speaker 3 (05:45):
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
(06:07):
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
(06:27):
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
(06:48):
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
(07:10):
be in and been a pleasure.
Speaker 4 (07:13):
Hey.
Speaker 2 (07:14):
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
(07:34):
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,
(07:58):
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
(08:20):
pay attention to. So what role do they play there?
We go, I'll shut up, now it's over there.
Speaker 3 (08:24):
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,
(08:48):
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.
Speaker 2 (08:56):
Like someone walks past your property and has a walk
around and it's the paint.
Speaker 3 (09:00):
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
(09:21):
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.
Speaker 2 (09:34):
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
(09:55):
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
(10:15):
it out there that it's not worth as much as
the neighbor.
Speaker 4 (10:18):
You know.
Speaker 3 (10:18):
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.
Speaker 2 (10:39):
Know, because well I do have a couple of kids. Yeah.
Speaker 3 (10:41):
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,
(11:02):
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.
Speaker 5 (11:20):
You know.
Speaker 3 (11:20):
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,
(11:42):
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
(12:04):
than just what the rating value is.
Speaker 2 (12:06):
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.
Speaker 3 (12:30):
Oh there's people always.
Speaker 2 (12:31):
Bad news for sellers.
Speaker 3 (12:33):
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
(12:54):
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
(13:16):
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
(13:37):
scale up.
Speaker 2 (13:38):
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.
Speaker 3 (13:57):
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
(14:18):
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
(14:40):
because he's paying one hundred and six grand per anam
for the same service as someone in a little modest
one bedroom apartment.
Speaker 2 (14:48):
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.
Speaker 3 (14:56):
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.
Speaker 2 (15:05):
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?
Speaker 4 (15:25):
Is what?
Speaker 2 (15:26):
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
(15:47):
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.
Speaker 4 (16:08):
Hi, how are you doing good?
Speaker 2 (16:09):
Thanks?
Speaker 4 (16:09):
I'm an Auckland homeowner. H My rates assessment have shifted
from one million dollars down to six hundred and eighty
thousand dollars.
Speaker 2 (16:18):
What one million to six hundred and eighty thousand dollars?
Speaker 4 (16:23):
Yep?
Speaker 2 (16:24):
Did that offend you? Upset you? What was your reaction
to that?
Speaker 4 (16:27):
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?
Speaker 2 (16:48):
That actually, that is a colossal reduction. How actually, let's
Bran Martin, How would that happen that much?
Speaker 3 (16:55):
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.
Speaker 4 (17:10):
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.
Speaker 2 (17:33):
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?
Speaker 4 (17:41):
I haven't. They haven't come up as done yet. No,
I have not done that yet.
Speaker 5 (17:46):
No.
Speaker 3 (17:47):
Okay, yeah, I think Graham, you're onto a mistake there.
Speaker 2 (17:51):
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?
Speaker 4 (18:02):
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
(18:26):
the sand about if I was to sell.
Speaker 3 (18:29):
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.
Speaker 4 (18:46):
No, no, no, no, it's a unit title.
Speaker 3 (18:48):
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
(19:10):
could reassure yourself that your equity hasn't gone down by
thirty percent.
Speaker 2 (19:16):
When did you buy it, a Graham?
Speaker 4 (19:18):
I bought it back in twenty eleven, three days before
we won the World Cup, and.
Speaker 3 (19:25):
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.
Speaker 2 (19:37):
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.
Speaker 4 (19:43):
Now it's four hundred and fifty two a thousand.
Speaker 2 (19:49):
Okay, well, yere, you would be upset with it dropping
from a million to six. That's quite expensive, doesn't.
Speaker 4 (19:56):
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,
(20:17):
it's a genuine mistake, we'll write it. But beyond that,
then I will have a bigger issue to deal with. Yeah.
Speaker 3 (20:24):
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.
Speaker 4 (20:37):
Oly. Look, thanks, gentlemen, Yeah, cheers.
Speaker 2 (20:41):
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
(21:01):
nine hundred. Then he and he's obviously been there. That's
clearly a mistake. Yes, although that is a mass.
Speaker 3 (21:08):
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
(21:28):
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.
Speaker 2 (21:41):
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
(22:02):
it's not. It's all shared. You know, I've even got
a neighbors, got a clothesline.
Speaker 3 (22:08):
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.
Speaker 2 (22:21):
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
(22:42):
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
(23:03):
do they do? How does that work? Well?
Speaker 3 (23:04):
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
(23:27):
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.
(23:49):
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
(24:09):
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.
Speaker 2 (24:26):
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.
Speaker 3 (24:35):
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
(24:56):
looking what improvements have you made, how well is it kept,
what the carpet conditions, your kitchen, everything about your home.
Speaker 2 (25:03):
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.
(25:25):
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.
Speaker 3 (25:34):
Surely you might have the red flat. The computer's got
you with a red flag.
Speaker 2 (25:41):
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.
Speaker 6 (25:52):
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
(26:14):
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.
(26:37):
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.
Speaker 2 (26:50):
Yeah, where you go Marp?
Speaker 3 (26:51):
Yeah, absolutely, Yeah. The oh system it's just online. You
can go online and put in.
Speaker 6 (26:57):
You it's got to be in by the twenty fifth
of the June or July, does it?
Speaker 3 (27:02):
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.
Speaker 6 (27:09):
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.
Speaker 2 (27:16):
Less No, Unfortunately.
Speaker 3 (27:22):
What happens. See, because I guarantee you that Auburn rates
haven't come down by nine percent, even though overall values the.
Speaker 2 (27:30):
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.
Speaker 6 (27:39):
Yeah, it would come down.
Speaker 7 (27:41):
Yeah.
Speaker 6 (27:41):
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.
Speaker 3 (27:59):
Yeah, well you'll get two bins then, won't you.
Speaker 6 (28:03):
Yeah, we've got two burns. Yeah, Lucky sort it out. Yeah,
two recyclers to waste here.
Speaker 7 (28:12):
Yeah.
Speaker 3 (28:12):
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.
Speaker 6 (28:19):
I just thought there was an extreme amount of money
for a land value to go down versus house value.
Speaker 3 (28:25):
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.
Speaker 6 (28:38):
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
(29:02):
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.
Speaker 2 (29:11):
Okay, well, well, good luck with that. Obviously you're not
looking at selling any time in the future there where
you're wanting.
Speaker 6 (29:17):
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
(29:37):
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.
Speaker 2 (29:58):
Yeah, yeah, a.
Speaker 3 (29:59):
Good thing though, as you were the boss. You're the
one that signs the contract, not the agent. So you
you you.
Speaker 2 (30:07):
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.
Speaker 3 (30:16):
It just said, Really it wasn't.
Speaker 2 (30:18):
It strange muslude. We'll make sure it's slightly more so.
Speaker 3 (30:23):
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.
Speaker 2 (30:35):
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,
(31:05):
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.
Speaker 6 (31:27):
Hi Martin.
Speaker 7 (31:29):
We live on the outskirts of christ Church rurally.
Speaker 6 (31:34):
We've got by Baker blog.
Speaker 7 (31:40):
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?
Speaker 3 (31:58):
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
(32:19):
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.
(32:41):
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,
(33:04):
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,
(33:26):
further away if they want peace and tranquility without a
whole sort of suburban situation around them. But your value
should go up.
Speaker 7 (33:34):
That's what we moved out here for peace and quiet,
and it seems to be following us. Yeah.
Speaker 3 (33:41):
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.
Speaker 2 (34:02):
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?
Speaker 4 (34:22):
Uh?
Speaker 3 (34:22):
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.
Speaker 2 (34:38):
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.
Speaker 3 (34:46):
If you don't stay under the radar and just enjoy lower,
lower rates.
Speaker 2 (34:50):
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?
Speaker 3 (35:01):
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.
Speaker 2 (35:17):
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
(35:38):
there was a problem with the house and they were
happy to charge extra rates.
Speaker 3 (35:41):
I guess yeah.
Speaker 2 (35:43):
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.
Speaker 3 (35:51):
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
(36:14):
to pop you up, and that might be they might
be picking on you because you did that car board thing.
Speaker 2 (36:18):
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?
Speaker 5 (36:31):
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.
Speaker 2 (36:55):
Okay, how can I make a color palette that really
suits my personality?
Speaker 5 (37:00):
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
(37:20):
it a steme together brilliant.
Speaker 2 (37:22):
What paint should I be using to paint minterior walls?
Speaker 5 (37:26):
Our first recommendation is space cooat lochine. It's water borne
enamel and it has great durability. It's also describable and
no smelly odors when applying. Alternatively, you can use our
standard acrylic xylon, but space coat lochine is a muscle.
Wet areas in.
Speaker 2 (37:42):
The house and you can use the same product on
the ceiling and yeah, it's good to keep in mind
anything with machine. It's highlights and surface and perfections. You
can get more information from Razine dot co dot nzed.
Speaker 1 (37:55):
The one roof Quantity of the week on the Weekend Collective, Yes.
Speaker 2 (38:01):
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,
(38:22):
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.
Speaker 3 (38:39):
It'd be interesting to see what the raidable value is.
Can we while we're talking.
Speaker 2 (38:43):
Oh damn it, you know what? You keep talking and talking,
I'll quickly.
Speaker 3 (38:47):
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
(39:09):
has got a luxury guess.
Speaker 2 (39:11):
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
(39:32):
eight hundred and eighty for it.
Speaker 3 (39:33):
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.
Speaker 2 (39:42):
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.
Speaker 3 (40:03):
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
(40:23):
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.
Speaker 2 (40:37):
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,
(41:00):
and be reasonably confident. Can you literally walk up and
knock on the door and go, I reckon, it's about
one point three.
Speaker 3 (41:07):
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.
(41:29):
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
(41:50):
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.
Speaker 2 (41:58):
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?
Speaker 3 (42:06):
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.
Speaker 2 (42:21):
That was it.
Speaker 3 (42:22):
That was your marketing tool for real estate.
Speaker 2 (42:24):
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.
Speaker 3 (42:27):
We'll wait now, yeah, as well as time to go.
Speaker 2 (42:31):
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.
Speaker 7 (42:44):
What's done?
Speaker 4 (42:45):
Then?
Speaker 1 (42:48):
For more from The Weekend Collective, listen live to News
Talk Said B weekends from three pm, or follow the
podcast on iHeartRadio.
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