Every piece of property in NZ has a rating valuation (RV). Many people base purchase decisions on this figure. This is not wholly wrong, the rating valuations broadly reflect movements in the real market, albeit reviewed only every 3 years, then applied as a broad brush % that does not reflect any improvements made or maintenance not done, to specific properties/houses.
Valuers do a fine job comparing historical sales data, especially those keeping close to Real Estate Agents and recent sales, and applying scientific analysis to land size, house size, location etc.
Real Estate Agents likewise look at the supply/demand situation, assess land size and house specifics, the effect of that particular location, but have the advantage of working with actual property buyers, their likes and dislikes, quirks and emotions, and particularly their current level of confidence and price elasticity. Our job is always to be testing current levels, seeking the best price we can for our Vendors, and advising and allowing the best ‘market price’ to be found.
The best judge of a property’s value however is the buyer. No buyer wakes up in the morning and thinks a random thought, “I will buy a house today”. It is always the result of months or years of consideration, research, viewing properties, discussing options with trusted advisers, narrowing down a price range and location, then finally selecting a short list, and negotiating. No one buys without a modicum of emotion, after all we are human, but it is also generally emotion based on research, analysis, and choices. Buyers always know value to them when they see it.
Our market has had a strong run during this summer / autumn, and we have few unsold properties. We look forward to talking with Vendors looking ahead to spring and summer marketing!
Stone Walls And Totara Trees
529 Otaki Gorge Road, Te Horo
This truly wonderful, rare and exquisite Totara-dotted 5.53HA land block is sure to enthral all that view! One of Te Horo’s most prized locations, fully fenced, and with 1000 litres a day of Hautere water and a 25,000 litre tank all set up. A choice of outstanding house sites all with exciting gardening settings, come and create your very special lifestyle right here, right now!
Offers around $500,000 will buy.