THE BLACK BOOK | current to 01 June 2021

Current to 01 June 2021

THE

BLACK BOOK.

Life’s A Beach

Can You Trust CV’s?

Making A Splash

An update from the team in Omaha

Ashley Church talks CV’s in a hot market

with your kitchen splash back

R AY W H I T E N OW

Introducing Ray White Now, an insight to provide clarity to all our customers on what is happening in the market now.

If you are considering selling we explain how you can take advantage of the current conditions to achieve the best possible sales outcome.

The resilience of the New Zealand housing market has never been more evident than over the past three months. Most New Zealanders would be surprised at the level of activity and prices achieved, even though it has operated under restrictive operating conditions.

As Australasia’s largest real estate group, we are uniquely placed to provide our clients with the most relevant and timely information and data to assess current market activity and outlook. And as a family-owned and led business with 118 years of experience including operating through two world wars, the great depression and recessions, we know that we can deliver you the highest quality solutions in the current market.

C L I C K H E R E TO R E A D T H E L AT E S T I S S U E N OW

contents.

04 06 08 12 14 16 20

Black Group Realty Ltd. Contents

Selling Principal

Inspire

Franchise Owner

Can You Trust CVs in a Hot Market

Group General Manager

10 and 10 in 10 with Ann Bennett

Sales Manager

What’s New - Life’s a Beach at Omaha

Heather Walton 021 432 167 heather.walton@raywhite.com

Mark Bycroft 021 968 946 mark.bycroft@raywhite.com

Jacki Lane 027 556 7042 jacki.lane@raywhite.com

Jeff Tubman 0274 558 717 jeff.tubman@raywhite.com

Black Group Property Management.

General Manager

Make a Splash With Your Kitchen Splash Back

Mac Bycroft 021 223 6893 mac.bycroft@raywhite.com

Business Development

Properties For Sale

Josh Smith 021 235 8802 josh.smith@raywhite.com

Ray White Epsom Ray White Matakana & Omaha Ray White Takapuna Black Group Realty Ltd. Licensed (REAA 2008)

The Black Book is subject to copyright in its entirety and the contents may not be reproduced in any form, either in whole or in part, without written permission.

Opinions expressed in The Black Book are those of the contributors and not necessarily those of Black Group Realty Ltd or Ray White Epsom. No responsibility is accepted for unsolicited material.

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THE BLACK BOOK.

M IS S I NG O UT?

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OPINION:

Can you trust the CV in a hot market?

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THE BLACK BOOK.

Over the past 12 months there have been few weeks where we haven’t been confronted with at least one media story about a house which has sold for significantly more than the CV. Such stories are usually framed in that same incredulous tone that we otherwise only reserve for Lotto winners and people who are stuck by lightning and survive – often accompanied by a journalistic narrative which straddles shock and mild contempt that a property could sell for so much more than it is actually worth.

But who determines worth?

“The CV does,” you might reply – and you’d be wrong. Despite being used, by media, as some sort of indisputable guide to the value of real estate, inscribed in stone, the humble CV (which is actually more accurately referred to as the RV or rateable value) isn’t, and never has been, a reliable guide to the value of your home. The RV is a measure, assessed by your local Council once every three years, to provide enough of a guide to set fair rates for homes in your neighbourhood. Nothing less, nothing more.

It’s a broad snapshot of a moment in time (which could be as long as three years ago) and it isn’t, and doesn’t purport to be, a measure of your homes actual value.

Despite this, media, commentators, and the real estate industry continue to use the CV/RV as a guide – probably because it has, until recently, been the only universally accessible measure of value which is available to them.

The RV is a measure, assessed by your local Council once every three years, to provide enough of a guide to set fair rates for homes in your neighbourhood.

But if it isn’t accurate how can you find out what your home is really worth? After all, for many of us the value of our home at any given point of time is important. For some, that interest is purely out of curiosity.

For others, it’s a reflection of how close – or far – we might be to our retirement dream. For yet others, it’s a measure of our ability to borrow, against the house, for anything from an overseas holiday, to a business, or even to buy another property.

In particular, most of us are interested to know how much ‘equity’ we have in our home, which is simply a measure of the difference between how much the house is worth and how much of that we owe to the bank.

The difference - the equity – is the bit that we own.

So is there an accessible way to find out what your home is worth? Several – although only one of them is 100% accurate: 1. If you’re the outgoing type, or you know your neighbours well, you could wait till a similar house to yours sells in the same street and simply ask the vender how much it sold for. The effectiveness of this approach is limited because values can be quite different, even in nearby streets, and because most people probably won’t feel comfortable disclosing such information, even to friends.

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For this , an

OneRo d more of.co.n conten z t, c lick her e

There’s only one way to get an absolutely accurate handle on what your home is worth – and that, as has always been the case, is to sell it.

2. You could use any one of several online valuation tools which provide an estimate of your homes value at any given point in time - and most of these will also tell you what your neighbours home sold for – albeit a few months down the track. These tools still use council RV data – but the better ones enhance it with actual sales information from your area and apply their own methodology to arrive at, what can sometimes be, a pretty good estimate. This is actually a variation of the same tool that most banks now use to assess the value of most properties when assessing a mortgage – but their weakness is in the huge variations in estimated valuations that different platforms can provide for the same property. In Auckland, that difference can be over $200,000 on a property worth $1.5 million, making a mockery of such estimates. If your interest is largely just curiosity, this is the tool to use.

3. You could get a formal valuation completed by a valuer. This was once the only way to get an up-to-date valuation on a house and was required by most banks as part of the mortgage process – but times have changed and they’re now the exception rather than the rule. Generally, a formal valuation will provide a pretty good guide to what your home is actually worth – although it comes at a cost and some valuers are unreasonably conservative in their assessment – so it’s a bit of a balancing act.

All of these methods have their strengths and weaknesses and will provide you with a useful guide – but there’s only one way to get an absolutely accurate handle on what your home is worth – and that, as has always been the case, is to sell it. n - Ashley Church is a property commentator for OneRoof.co.nz.

Email him at ashley@nzemail.com

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THE BLACK BOOK.

ten and ten, in ten with Ann Bennett

Getting an agent to sit still can be difficult, so we bribe them with coffee to spend 10 minutes with us. This week we pulled Ann Bennett from Ray White Epsom aside to ask her ten personal, and ten professional questions.

Personal

What song is on repeat on your playlist at the moment?

Shirley Bassey – This is my life Which App do you spend the most time on?

Netflix Where do you think New Zealand's bestkept secret is?

Ruakaka Lagoon If you could have coffee with anyone in the world, who would it be?

Nigela Lawson Give us a TV show recommendation to binge-watch on a rainy day?

Queen of the South

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THE BLACK BOOK.

What's your go-to ice cream flavour?

Caramel If you were to win a reality TV show, which one would you have the best shot at winning?

How to be a millionaire What was the last book you read?

Why would you read when you have got Netflix Where in the world do you wish you could head to for a holiday?

Southern Italy

Professional

What was your first job?

Secretary at a wool brokers firm

What motivates you? $$$

What did you want to be when you grew up?

Overseas diplomat with the Ministry of Foreign Affairs

Share with us your property must-have?

A spacious kitchen with two benches for my passion of cooking

Tell us the thing you love the most about working in real estate?

Meeting interesting people

Tell us someone who inspires you?

Madeline Albright

Give us some advice to pass on to someone thinking about joining the industry?

Have one year of funds sitting in your bank account What would you consider to be your greatest achievement?

Working for the United Nations Switzerland

Million dollar question - how’s the market at the moment?

Fast-moving What separates you from other agents?

University Real Estate qualifications and extensive leasehold property knowledge n

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WHAT'S

NEW

We have a quick chat with members of our offices to see what's new in their area!

Life's A

Beach

At Omaha

The weather may have cooled but Black Group Reality’s new office in the beautiful Matakana, Omaha region is definitely running hot with unconditional sales exceeding $14m in April alone.

Black Group owner Heather Walton says property owners are feeling a bit stuck in the sand.

Caught in a holding pattern, through a fear of not finding their next Omaha property. But the real estate veteran has a savvy solution to break the deadlock.

“We have been matching buyers and sellers to meet their respective needs in mostly off-market sales. We’re also making some agreements conditional upon the vendor finding another home.”

Heather has teamed up with Omaha local, and Black Group’s latest salesperson, Rod Cheeseman.

The pair have an extensive network of contacts and are driving the market forward again.

“Omaha has long been the playground for discerning Aucklanders. We now have the perfect storm of low interest rates and a lack of overseas travel. That increased demand has seen Omaha properties reach record figures with unprecedented demand,” Rod says.

The stunning beachfront property at 35 Inanga Lane is a prime example of Heather working the magic. The owners had taken the house off the market because they didn't want to be left high and dry. Heather found another property locally that suited them perfectly and then lined up the buyers for their beachfront home.

“It's all about relationships,” Heather says.

Heather Walton, Rod Cheeseman and Black Group mascot, Cody

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35 Inanga Lane, Omaha sold off-market by Heather Walton from Ray White Matakana & Omaha

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M AKIN G A

sp l a s h

WITH YOUR KITCHEN SPLASH BACK I suspect there are a lot of people right now who are either thinking about renovating the kitchen or are already part way through the process, as all our cabinet makers are booked for months. Laura Heynike from Pocketspace shares how they make a splash!

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THE BLACK BOOK.

Apart from the cabinets, how you treat the splash back is one of the biggest decorating decisions for a kitchen.

The splash back’s job is to protect the wall and cabinetry from water and food splashes. It usually extends from behind the cooktop’s hob to meet the lower edge of the upper cabinets or goes all the wall.

These days short upstands (where the bench material curves up the wall) are no longer specified, and instead splash backs are the feature - all the way up the wall. As an extension of a bespoke designer kitchen the splash back can encompass the whole space not just a small area around the cooktop or sink.

A tiled splash back is by far the most popular choice. It is low maintenance and provides the opportunity to bring in personal taste.

Tiles range from the subtle handmade organic-toned look, introduce a bit of pattern with shapes such as hexagons or penny round and come in any colour that ties in the rest of the scheme.

A tiled splash back is by far the most popular choice.

It is low maintenance and provides the opportunity to bring in personal taste.

What’s on trend? Currently our studio is selecting more organic crafted tiles in saturated hues and customers are also loving the finger mosaic tile that bring in a condensed linear pattern. Choosing the colour is really driven by what you like, as what’s on trends comes and goes. We are drawn to 50 shades of green at the moment, a classic colour that works with most interior palettes.

A natural exposed stone tile is lovely, but we advise against going for that, because even with treating and sealing, grease does accumulates on the stone and cleaning can produce colour variations.

Extending the benchtop into a splash-back has definitely made it into the top three finishes in the last two years.

The benchtop splash-back has definitely made its way into the top three in the last two years. A stone or engineered stone benchtop is carried up the wall for a seamless look, generally using the stone in a thinner size for this so there isn’t a bulky edge. This marries with the European trend towards slimmer bench tops for a sleek look and is quite cost effective to use the off-cuts of the thinner benchtop for the splash back.

I think this gives a designer look as the components seamlessly complement each other rather than competing. The stone can look very dramatic if finished off with either down lighting with LED or it is fully illuminated.

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A continuous back splash is really special with stones that have distinct veining or texture. The same piece applied to a vertical surface takes on quite a different characteristic that used on a flat benchtop surface.

Lastly metallics or glass have their place.

Glass is not only heat resistant, but also reflects more light around kitchen. I would stay away from printed splash backs as they are very personal taste and so not ideal if you plan to re-sell the house.

Opt for a tinted glass for a contemporary look and avoid going down the mirror route, they are impossible to keep showroom fresh.

If you need more light in your kitchen look at a window splashback which looks impressive and functional. If you’re putting in a window behind the sink, avoid water accumulation by inserting the pane flush to the sill.

Glass is also good if you want something that blends in or replicates a wall colour as wall paint is baked onto the back of the glass.

Metallic finishes such as metal mosaics, stainless or aluminium sheets have also made a design impact. However they do show up grease easily so have to be wiped down well to avoid dull patches. They can look particularly impressive if paired unique hardware like brass handles to finish off the look.

A continuous back splash is really special with stones that have distinct veining or texture. The same piece applied to a vertical surface takes on quite a different characteristic that used on a flat benchtop surface.

Laura Heynike - director of Pocketspace Interiors n

For this , and m ore

OneRo o

f.co.n conten t, click h z ere

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THE BLACK BOOK.

Auckland Central >

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Apt 1101, 9 Princes Street, Auckland Central • Open living and dining bathed in natural light • Full-width opening conservatory • Gourmet chef's kitchen • Floor-to-ceiling scenic windows with city views • Well proportioned bedrooms with built-in robes • Five-star facilities and pet-friendly • Exquisite foyer, concierge, and the highly-rated Onslow Restaurant

rwepsom.co.nz/EPS25304 Black Group Realty Limited Licensed (REAA 2008)

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Auction 5:30pm, Thursday 10 June In rooms 1/416 Broadway Epsom (unless sold prior)

Ross Hawkins 0274 720 577

View Visit the website for viewing details or contact the agent/s to schedule a private viewing

Caleb Rufer 021 0258 3304

Richard Bull 021 443 361

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Auction 4

69a Seaview Road, Castor Bay Proudly positioned taking in the sunshine this Double Westlake home has wonderful elevated city views at night, this home is a family functional entertainers paradise. Situated in the best possible school zones with plenty of space for all the family.

This beautiful property also ticks the low maintenance lock up and leave box.

July 2017 CV $1,715,000

rwtakapuna.co.nz/TKA20394 Black Group Realty Limited Licensed (REAA 2008)

Auction 6:00pm, Wednesday 2 June 2021 (Unless sold prior) 87-91 Hurstmere Road, Takapuna View Open homes Saturday/Sunday 2:00-2:30pm or by appointment

A1C3F1I3K

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Heather Walton 021 432 167

Ryan Neal 021 613 116

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Step Up To Better Property Management Get in touch with us today to talk modern-style property management.

Mac Bycroft 021 223 6893 mac.bycroft@raywhite.com

Black Group Property Management Ltd.

Josh Smith 021 235 8802 josh.smith@raywhite.com