2/24 Harvey Street, Waipahihi - Appraisal

Dear Carol, Debra & Ross

Thank you for your instructions to prepare a current market appraisal on your property.

I trust our appraisal will be of assistance to you going forward. Please note that this is a current market opinion only to determine the likely price bracket that this property may sell in, should it be listed for sale today.

In preparing this appraisal we have researched the property and then analysed recent sales of similar properties as comparisons. Our suggested price range should not be seen as the value of your property but a market opinion only. This letter should not be treated as a valuation, as might be performed by a registered valuer. True market value is what a buyer will pay without being forced to buy and what a vendor will accept without being forced to sell with adequate market exposure.

Property Information

433sqm (more or less) 230qm (more or less)

Lot 1 DP 349420 202575

Capital

Land

Land

Floor Area 290 m²

Roof Steel /G- Iro n

Walls Mi x ed Materi al Building Age 1980- 1989

Last

Land

Age 1990- 1999

Floor

Roof

Building

For Sale Nearby

Currently For Sale

Th e reco mmen d ati o n i s f u rth er su p p o rted b y an al y si s o f p ro p erti es cu rren tl y f o r sal e th at are d eemed co mp arab l e. Th ese co mp arab l e p ro p erti es h av e b een sel ected b ased

Listed 18 Jan 2024 Nego ti ati o n

Capital Value $1, 020, 000

Land Value $550, 000

Category Resi d en ti al Ho u se

Walls P l asti c

Building Age 1980- 1989

Listed 10 No v 2023 $1, 060, 000

Capital Value $1, 070, 000

Land Value $515, 000

Category Resi d en ti al Ho u se

Land Area 1, 100 m²

Floor Area 200 m²

Roof Ti l e P ro f i l e

Walls Bri ck

Building Age 1990- 1999

Land Area 772 m²

Floor Area 253 m²

Roof Steel /G- Iro n

Walls Mi x ed Materi al

Building Age 2000- 2009

F eb ru ary 2024

Listed 20 O ct 2023 $1, 099, 000

Capital Value $1, 160, 000

Land Value $515, 000

Category Resi d en ti al Ho u se

Land Area 765 m²

Floor Area 300 m²

Roof Ti l e P ro f i l e

Walls Mi x ed Materi al

Building Age 1980- 1989

PR EPAR ED BY :

esl ey McNei l

M: 027 295 1546

Co

If marketing with a price is your preferred method initially, the previous page indicates a possible selling range of $1,100,000 - $1,150,000 based on comparable sales.

This analysis is meant as a confidential document. I trust that it is of some value to you and also hope that my honesty doesn’t preclude me from being given the opportunity to work hard on the marketing of the home. I am able to advise you on marketing programmes at a price suitable to you.

Fees:

Firstly, a $500 fee, then commission 3.95% up to $500,000 then 2.5% thereafter, plus GST.

When choosing a selling method we will provide you with advice based on your situation. When you need to sell by will be a significant factor in this decision plus who is impacted by the sale and how everyone is feeling about the move.

Methods of sale that involve a quick but intense marketing period with structured buyer viewing opportunities can often be the less disruptive choice.

Setting a sale date in place allows you to plan ahead and can create urgency for buyers to act quickly in your favour.

At Harcourts we firmly believe that the relationship between a seller and their agent is one that should be based on mutual respect and trust, and it is important that you make the decision as to who should market your home based on your confidence in their ability to achieve the best result, rather than an agent who may offer an inflated selling price in order to gain your business. When you appoint Harcourts to market your home we can assure you that you will receive our total commitment to secure a sale.

Subur b: Waipahihi

Num ber of Sales

Sale

Median Sale Pr ice in Waipahihi and Taupo Distr ict

Sources: REI NZ, Headway Systems Ltd , Custom Software Ltd

Sources: REI NZ, Headway Systems Ltd , Custom Software Ltd , Realestate co nz

Median Days to Sell in Waipahihi and Taupo Distr ict

Sources: REI NZ, Headway Systems Ltd., Custom Software Ltd.

Market Performance Comparison

Positioning your property in the market.

When your property first enters the market as a new listing, this is the time it will receive the most interest and enquiry. We call this your premium price opportunity.

At Harcourts we believe it is all in the preparation. We can advise you on possible improvements that could increase the value of your property and will have completed thorough research to help you establish an expectation of price.

We will make sure we have prepared every detail of our marketing strategy ready to launch your property to the market at its best during this critical time.

Marketing Essentials

Professional Photography.

The difference between a professional taking photos of your home as opposed to your agent taking them can mean thousands of dollars on the sale. Buyers are attracted to photos at the start, so if they are not quality pictures, they will move onto something else straight away. Ask your consultant to show you the difference, we are employed to be your marketer/negotiator not your photographer and the skill set is very different, so the cost is far outweighed by the benefits to you as the seller.

Real Estate Websites.

Most buyers are familiar with websites when looking for property, it is important that your home is represented on all the main sites including our top ranking Harcourtstaupo.co.nz, Harcourts.co.nz, Realestate.co.nz, trademe.co.nz and Oneroof.co.nz. Plus if you employ open2view for your photography you will be on their site as well. We recommend that you upgrade to a feature listing so your property is always top of mind recall and not relegated to the bottom pages. Your consultant will go through these packages with you.

Host Open Homes.

Most people understand the importance of open homes and how they form a major part of the marketing process as you never know who could be your buyer. Although you may not want all the neighbours coming through, they could be the very people who will want to choose who lives in their area and could be your biggest advocates. Buyers make lists of properties they want to view over a weekend and open homes are a big part of the process, so if you choose not to have open homes you may miss out on a large part of the buyer pool. Many properties are sold to an open home buyer on the day or immediately afterwards.

Property Signage.

Promoting your property at the front gate is always advisable to ensure every possible avenue is covered. Potential buyers drive around neighbourhoods where they want to live to see what’s new on the market so if you don’t have a sign outside you could be missing out on valuable buyers. Some people elect not to have a sign due to privacy issues, but you can’t sell a secret and the more people who know you are selling could mean a potentially better price.

Office Window Display.

You can’t underestimate the power of a prominent office window display. Many agents who don’t have an office base might suggest that this isn’t important due to the internet now but when you see the numbers of buyers who pop into our office on the corner of Ruapehu and Te Heuheu Street (or peruse the window display after hours) there is no doubt that sellers have more of an advantage to have their properties on view day or night. hours) there is no doubt that sellers have more of an advantage to have their properties on view day or night.

Option of Home Staging.

You can never underestimate the importance of your home being professionally staged, especially if it is vacant. First impressions can be vital if a buyer walks into a home and it appears stark and impersonal they can be put off at the first glance. The opportunity of many extra thousands of dollars in YOUR pocket with well laid out furniture, bright accessories and art to set up the right ambience for a sale can far outweigh the minimal cost of hiring the furniture for the marketing period.

The Auction Process

The auction system is not just the event on the day, it is a proven marketing process that shortens the selling time frame, as opposed to listing with a price and waiting for buyers to make a decision.

The auction process brings all interest to a head within a limited time frame, and even if the property has not sold, the vendors have enough information to make an informed judgment.

Marketing Period

• A planned 4 week strategy

• Market the property

• No price barriers, more inspection

• Collate interest

• No conditions: eg LIM, Building Report

• Weekly team focus on auction buyers

• Unconditional on day

• Buyer competition on day

• Settlement terms to suit vendor

• SOLD ON AUCTION DAY – or

• Negotiations continue

• If not sold, priced to suit market

• Post auction marketing

• SOLD sign on property!

Buyers focus on the property not the price. Buyers enter the emotional process: like > want > need.

Buyers seek financial approval to bid. Holds buyers until auction day. Seller may consider a premium offer and sell prior.

Auction Day

Multiple buyers in open competition. Bidding up not negotiating down. Buyers see the value is real. Buyers fear losing the property. Buyers justify paying more to win.

Negotiating

Negotiating first with cash bidders. Open negotiations to non cash buyers.

The Tender Process

Marketing Period

Buyers focus on the property not the price. Buyers enter the emotional process: like > want > need

Tenders accepted up until deadline date. Seller may consider a premium offer and sell prior.

Tender Deadline

Multiple offers considered. One chance for buyers to be chosen as the most favourable offer. Offers submitted are confidential. Buyers fear losing the property. Buyers justify paying more to win.

Negotiating

Negotiate with most favourable contract. Highest price. Conditions of sale. Settlement date. Reason for purchase.

The Deadline Sale Process

Deadline Sale

Set Date to create urgency.

The Seller doesn’t have to accept the highest offer. They can accept any or none of the offers and may negotiate with anyone who submits an offer.

The seller can look at and consider an offer at any stage. Don’t need to wait till the deadline date.

Negotiating

If there is more than one offer, the sale may become a multi-offer process. You can choose to make an unconditional or conditional offer on the property.

Marketing Period

Buyers focus on the property not the price.

Buyers enter the emotional process: like > want > need

Opens the market for conditional and unconditional buyers.

Our Promise of service.

Our Promise to you is your assurance that you will have access to all documents, marketing and scheduled activities to do with your sale at every step of the way. We will be diligent in providing feedback to you after every showing of your property.

We will closely monitor market activity in your area that could impact on your sales and prepare regular reports to keep you fully informed. We will be transparent in our communication and accountable with regular meetings scheduled with you to discuss our progress.

Y O U R SALES CONSULTANT

Lesley McNeil

A Wellingtonian at heart I holidayed in Taupō for over twenty-five years before making it my permanent home 14 years ago. In between living in Wellington and moving to Taupō my husband and I have been fortunate to have spent several years living in various countries like England, Dubai, and Istanbul.

I started in real estate as a young mum with three children finding a way to have a job that I loved as well as time with my family. Now with over twenty-five years of selling and finding homes for clients I still get the same satisfaction as I did when I first started. Working with my clients and helping them through what can be a very stressful time, is important to me.

I have always enjoyed working with people and throughout my career have been involved not only in Real Estate but management for several Charity organisations both in New Zealand and England.

The last fourteen years, living in Taupō has given me a lot of pleasure. Being able give back to the community includes having worked with Taupō Hospice as a Trustee and Chair of the Fund-raising committee and run the Harcourts Food Bank for many years.