House Talk 138

Dear Resident,


I hope your nerves have settled down after the world cup win.

The RV’s (rateable values) have been issued in the last few weeks. There have been mostly reductions from the previous CV (capital values) issued in 2007 for the old Waitakere City area but some have increased. Neither the old CV or the current RV should be taken as a meaningful indicator of actual market value.

I recently sold a property in Beach Road Te Atatu Peninsula at auction on the 5th November 2011 at the start of the 4 week auction marketing programme the CV of the property was $515,000. Before the auction it was $490,000, the property sold at auction with several bidding parties for a sale price of $652,500 or $162,500 over the newly issued RV.

At the same time I was marketing another property at 221 Shaw Road Titirangi , the CV was $720,000 the vendors hoped for around $750,000. The new RV came out at $820,000. The property sold at auction also on the 5th November 2011 for $795,000 clearly the RV is for is for council ratings purposes not current market value.

Oh by the way the vendors were very happy with the results. If you want to sell your home why not take advantage of my free comprehensive marketing package see the back page for details.

Best wishes,

John Goodrum