Gorgeous house for sale in Omokoroa, near Tauranga

[Jodie]

Sorry for not coming back in here for a while - life in the bay has been pretty crazy for me!!

Thanks for all the kind words - it really is a lovely house and a great area (and yep - fantastic views - especially with a glass of vino in the hot hub hehe!) ) I think they're looking at mid 800's price wise.

Amy - how did the open homes go when you were in town?

[Wooly_Cow]

S - especially with a glass of vino in the hot hub hehe!) )

Now I know my spulling is awfull ....but not knowing how hot your hubby is....I assume you meant hot TUB! .....or did you ?

[amy71]

The week in Tauranga was awesome. The kids truly enjoyed themselves. Went for about 5 - 6 open homes on that Sunday and I really like the Mayfield area. The newer part of Bethelehem. There is a house I absolute love and it's going ot auction on Tuesday 26th but we will be playing the waiting game as we ain't in too much of a hurry to purchase unless it's a real bargain.
Since them OH have been getting loads of calls from agents. Poor guy.

[M-Squared]

Sorry for not coming back in here for a while - life in the bay has been pretty crazy for me!!

Thanks for all the kind words - it really is a lovely house and a great area (and yep - fantastic views - especially with a glass of vino in the hot hub hehe!) ) I think they're looking at mid 800's price wise.

Amy - how did the open homes go when you were in town?

If what Wooly_Cow found is correct, then they might well get offers more like 650K, which they should take unless they're going to take the house off the market and wait at least 2 years for houses to start to rise again. Houses are going for around 40K under RV right now. Houses do not sell for over RV, let alone over 100K over RV!

[IanW99]

...
Houses are going for around 40K under RV right now. Houses do not sell for over RV, let alone over 100K over RV!

That is a bit of a sweeping statement for the whole of NZ isn't it!

Ian

[M-Squared]

That is a bit of a sweeping statement for the whole of NZ isn't it!

Ian

I must have missed the pockets where the real estate business is booming beyond belief!

[IanW99]

I must have missed the pockets where the real estate business is booming beyond belief!

Guess you did...

In the news on Thursday 21st October...

"We're seeing house prices relatively elevated and actually rising in the last couple of months in central and North Shore where the leaky homes issue is the worst," Hickey said.

Ian

[M-Squared]

Guess you did...

In the news on Thursday 21st October...

Ian

Are they anywhere close to RV? Are they hundreds of thousands above RV? Thought not.

[IanW99]

Are they anywhere close to RV? Are they hundreds of thousands above RV? Thought not.

You stated that houses were selling at 40K below RV at the moment and certainly don't sell for over RV. This is a sweeping statement as houses in some areas are still selling above RV (and of course some houses are selling below RV).

I would agree with you that asking for 100K above RV is well above normal but as RVs are only done every 3 years and they don't take into account work done on the property in the mean time, so it is definitely possible for houses to be worth more than RV and in some cases more than 100K above RV.

Just out of interest, looking at recent sales on the North Shore and can see a property whose rateable value is $780K that sold for $861K so not sold for 40K below and not sold for RV but for 81K above RV.

Ian

[M-Squared]

You stated that houses were selling at 40K below RV at the moment and certainly don't sell for over RV. This is a sweeping statement as houses in some areas are still selling above RV (and of course some houses are selling below RV).

I would agree with you that asking for 100K above RV is well above normal but as RVs are only done every 3 years and they don't take into account work done on the property in the mean time, so it is definitely possible for houses to be worth more than RV and in some cases more than 100K above RV.

Just out of interest, looking at recent sales on the North Shore and can see a property whose rateable value is $780K that sold for $861K so not sold for 40K below and not sold for RV but for 81K above RV.

Ian

Must be newbies then - buyer beware! I bought at 65K under RV at the height of the market. A house is worth as much as someone is willing to pay for it, and I guess there are some people out there with waaaay too much money!

Pretty much every agent you meet will tell you that RVs don't mean much, but it's a good starting point for the average punter. Just because someone puts in a new kitchen in the last three years doesn't mean that they're "entitled" to the 30k it may have cost. One rarely gets back the investment made to a house, so unless a house is completely gutted and rebuilt, then any renovations are pretty much at least 75% at the seller's expense.