WEBVTT - Debbie Roberts: Your RV doesn't matter all that much 0:00:05.761 --> 0:00:09.281 You're listening to the Weekend Collective podcast from News Talk 0:00:09.361 --> 0:00:09.681 sed B. 0:00:11.881 --> 0:00:19.481 Who to lead me down around? 0:00:19.841 --> 0:00:24.761 It worse? The US never wait to see you say, 0:00:25.441 --> 0:00:30.201 but I under steal, I near you, I what anyone done? 0:00:30.801 --> 0:00:34.001 You don't know from the side. 0:00:34.441 --> 0:00:35.161 So tell me you. 0:00:37.321 --> 0:00:42.641 Don't and welcome back to the show. This is the 0:00:42.641 --> 0:00:45.201 one roof radio show. I'm Tim Beveridge as part of 0:00:45.201 --> 0:00:47.961 the Weekend Collective. By the way, the Parents Squad Catherine 0:00:47.961 --> 0:00:50.441 Burkett with us after five o'clock. You can text your 0:00:50.441 --> 0:00:52.961 feedback anytime nine two nine two, but of course these 0:00:53.041 --> 0:00:55.161 two hours we can all. We also love to take 0:00:55.161 --> 0:00:57.721 your calls on eight hundred and eighty ten eighty and 0:00:57.881 --> 0:00:59.401 I say text nine two nine two, But if you 0:00:59.401 --> 0:01:01.401 want to jump that queue, then give us a call 0:01:01.721 --> 0:01:04.681 eight hundred eighty ten to eighty. Firstly, there've been some 0:01:04.721 --> 0:01:10.881 interesting headlines in always interesting headlines on property because of 0:01:10.921 --> 0:01:13.041 course that's why they want the interesting headline, so you 0:01:13.241 --> 0:01:15.601 get in there and read the article. But there's the 0:01:15.681 --> 0:01:20.601 story about Wellington's average RV has dropped twenty four percent 0:01:22.081 --> 0:01:24.041 and so the RVs, as you will have heard on 0:01:24.041 --> 0:01:26.161 this show, we often talk about them as being whether 0:01:26.161 --> 0:01:29.161 you can't rely on them too much. But there's a 0:01:29.161 --> 0:01:31.441 massive drop obviously in Wellington doesn't mean your rates are 0:01:31.441 --> 0:01:33.241 going to drop, because it's by the way, that's the 0:01:33.241 --> 0:01:35.401 first question that will pop up, because it usually means 0:01:36.001 --> 0:01:38.441 everyone else has dropped it, and the RV is only 0:01:38.801 --> 0:01:41.081 relevant in terms of where you sit as to what 0:01:41.121 --> 0:01:44.521 proportion of the rates bill you should pay. But anyway, 0:01:44.561 --> 0:01:46.521 it's pretty dramatic in Wellington, and we're going to have 0:01:46.601 --> 0:01:48.841 a little bit of a chat on this hour about 0:01:49.001 --> 0:01:51.481 whether that means that Wellington's a goodbye right now and 0:01:52.121 --> 0:01:54.041 whether it marks itself out as one of those places 0:01:54.041 --> 0:01:56.041 which is ready for a bit of a spring. But 0:01:56.361 --> 0:02:01.361 more more relevant to everyone is how do you treat 0:02:01.481 --> 0:02:04.921 your RV? Do you look at it and go you're 0:02:05.041 --> 0:02:07.201 offended if it's not as much as you'd like it 0:02:07.201 --> 0:02:08.521 to be, because you'd like it to be higher, But 0:02:08.521 --> 0:02:10.121 of course if you want it to be higher, you 0:02:10.161 --> 0:02:12.321 also want to pay a little bit more rates. I 0:02:12.441 --> 0:02:16.161 once made the mistake. Was it a mistake? I'll ask 0:02:16.201 --> 0:02:19.521 our expert on batter introducing a moment of haggling my 0:02:19.801 --> 0:02:22.281 RV down, And one of the guests on my show 0:02:22.321 --> 0:02:24.441 said we shouldn't have done that, and I said, well, 0:02:24.481 --> 0:02:26.041 it was because my rate spill was going to be 0:02:26.081 --> 0:02:28.521 more than my neighbors and I did get it successfully 0:02:28.521 --> 0:02:31.881 haggled down. Seems that the council's forgotten that they're bumped 0:02:31.881 --> 0:02:35.001 it back up again. But anyway, if you are selling 0:02:35.041 --> 0:02:38.401 your house, do you want are you concerned if you've 0:02:38.441 --> 0:02:39.921 got a low RV and you think, well, hang on 0:02:39.921 --> 0:02:41.881 a minute, people who are looking at my property are 0:02:41.921 --> 0:02:45.801 going to think I'm I'm overpricing because my RV's not 0:02:45.841 --> 0:02:49.561 reflecting what I think it's worth. And so what is 0:02:49.601 --> 0:02:52.241 your relationship to your RV? Do you worry about it 0:02:52.561 --> 0:02:54.401 and do you haggle it down or do you haggle 0:02:54.441 --> 0:02:57.241 it up? But if it's more specifically, if your house 0:02:57.321 --> 0:02:59.681 is going on the market, I don't know if anyone 0:02:59.721 --> 0:03:01.681 would ever haggle theirs up. But we'll have a chat 0:03:01.721 --> 0:03:05.481 about that with financial advisor from property apprentice, Debbi Roberts. Go, afternoon, 0:03:05.481 --> 0:03:08.281 how you go good? How are you good? Good? What 0:03:08.361 --> 0:03:10.921 have you had a good breakover summer? You've been flat out? 0:03:11.041 --> 0:03:12.761 Oh no, we did have a bit of a break. 0:03:12.761 --> 0:03:14.841 It was lovely. Yeah, we enjoyed a bit of good 0:03:14.881 --> 0:03:15.841 weather when it was there. 0:03:16.161 --> 0:03:20.241 What's your relationship or your attitude towards RVs. 0:03:21.121 --> 0:03:23.481 Unless you're thinking of selling in the short term, and 0:03:23.481 --> 0:03:25.201 it really doesn't make much difference. 0:03:27.041 --> 0:03:34.041 Okay, right bye everyone. That was a great show. What 0:03:34.241 --> 0:03:37.121 was I so? For instance, when I when we had 0:03:37.161 --> 0:03:39.521 ours come out, and I thought mine was much higher 0:03:39.521 --> 0:03:42.201 than my neighbors and we're a block of four units, 0:03:42.361 --> 0:03:44.961 Yeah units. I don't like that sound, makes it sound squitty, 0:03:44.961 --> 0:03:49.161 but anyway, it's we're one of four, we're the end unit, 0:03:49.361 --> 0:03:53.081 same square footage, unless somebody is We've added a couple 0:03:53.121 --> 0:03:55.641 of bedrooms downstairs, which may have been what triggered them. 0:03:56.001 --> 0:03:57.961 But I did actually write to them and said, look, 0:03:57.961 --> 0:03:59.961 we're still renovating. It's not worth that at the moment. 0:04:00.001 --> 0:04:02.001 And they did knock a couple of hundred thousand off it. 0:04:02.361 --> 0:04:06.201 And the advice I got from one of our guess was, well, 0:04:06.321 --> 0:04:09.401 you probably shouldn't have done that, because when you come 0:04:09.441 --> 0:04:12.241 to sell it, you may want to rely on the 0:04:12.401 --> 0:04:15.441 perceived value being higher than you've got it. What do 0:04:15.441 --> 0:04:15.881 you reckon? 0:04:16.081 --> 0:04:17.921 I think that would only be relevant if you were 0:04:17.921 --> 0:04:20.441 thinking of selling it within the next three years after 0:04:20.481 --> 0:04:23.001 the ratable value was done. And I mean. It's also 0:04:23.041 --> 0:04:25.681 important to point out that it's called different things in 0:04:25.761 --> 0:04:28.681 different parts of the country. It's not ratable value everywhere, 0:04:29.041 --> 0:04:31.841 believe it or not. So some parts of the country 0:04:31.881 --> 0:04:35.481 it's called CV for capital value or council value. Other 0:04:35.521 --> 0:04:37.601 parts it's GV government valuation. 0:04:37.921 --> 0:04:40.201 It'll be council value, wouldn't it because capital value would 0:04:40.241 --> 0:04:43.001 be Oh, that's land plus improvements. Isn't the same thing? 0:04:43.401 --> 0:04:46.081 So called different things. It all means the same stuff. 0:04:46.121 --> 0:04:49.561 But yeah, you were right when you said that it's 0:04:49.641 --> 0:04:52.841 about the percentage change compared to the other properties in 0:04:52.881 --> 0:04:57.241 the area. So if yours increased in comparison to the 0:04:57.281 --> 0:05:00.321 others in the area, then yeah, you were able to 0:05:00.441 --> 0:05:02.361 argue that down. So that meant that you could have 0:05:02.401 --> 0:05:05.041 potentially paid lower rates than you would have other wise. 0:05:05.241 --> 0:05:07.241 The funny thing is because ours is popped up again, 0:05:07.481 --> 0:05:11.161 and seriously, one of the two properties next to me 0:05:11.201 --> 0:05:14.801 are almost the same and they've got us way over 0:05:14.961 --> 0:05:16.401 and I was about to haggle it down. Then I 0:05:16.441 --> 0:05:18.681 thought do I really want to do that? But you'd 0:05:18.681 --> 0:05:20.841 probably say, well, are you thinking of selling? My answer 0:05:20.881 --> 0:05:22.121 is no, yeah, And. 0:05:22.161 --> 0:05:23.641 I mean, at the end of the day, even if 0:05:23.641 --> 0:05:27.641 you are thinking of selling a registered valuation will trump 0:05:27.881 --> 0:05:30.521 a council valuation every day of the week. 0:05:30.681 --> 0:05:35.841 Okay, do RVs? And I think actually, to be consistent, 0:05:35.921 --> 0:05:38.361 I think we call them RVs because I think that's 0:05:38.361 --> 0:05:40.961 even what the one roof website does. It just has 0:05:41.001 --> 0:05:43.721 its standard RV, which is taking into account whatever the 0:05:43.921 --> 0:05:49.241 terminology of the council uses. What role do they play realistically, 0:05:49.281 --> 0:05:52.521 because it's not like they're an invisible piece of information 0:05:53.041 --> 0:05:55.121 any buyer looks at it. I mean we do it 0:05:55.161 --> 0:05:57.121 all the time. We look at the one roof property 0:05:57.121 --> 0:05:59.521 of the week and we'll go, oh yeah, oh my goodness, 0:05:59.561 --> 0:06:01.761 why they think it's worth an extra million on top 0:06:01.761 --> 0:06:01.961 of that? 0:06:02.681 --> 0:06:05.801 Yeah. So one of the things it's probably the most 0:06:05.921 --> 0:06:09.001 common question that realistic agents would get asked in an 0:06:09.041 --> 0:06:12.241 open home what's the r V? You know, if you 0:06:12.361 --> 0:06:15.361 if you listen to what people people are as, they 0:06:15.441 --> 0:06:19.441 always ask and you've got to remember RVs get done 0:06:19.481 --> 0:06:22.561 once every three years, so even on the day that 0:06:22.641 --> 0:06:26.321 they're issued, they're already late, you know, because like the 0:06:26.361 --> 0:06:30.441 Wellington one for example, that was three months ago, so 0:06:31.081 --> 0:06:34.601 they're already late on the day that they're released. So 0:06:34.961 --> 0:06:37.201 they might have been market value at the time, or 0:06:37.241 --> 0:06:40.201 they might not have because they don't come around and 0:06:40.201 --> 0:06:43.241 look at your property. They don't measure up the property. 0:06:43.241 --> 0:06:45.681 They don't, you know, they don't look at the renovations 0:06:45.721 --> 0:06:48.401 that you've done. So it really is just a desktop 0:06:48.481 --> 0:06:52.561 valuation to estimate the increase compared to others in the area. 0:06:52.681 --> 0:06:54.681 Why you describe that made it sound like you're almost 0:06:54.721 --> 0:06:57.241 frustrated that they exist in a way. As a property person, 0:06:57.281 --> 0:07:00.401 it's like, are those blooming RVs? What worth are they? 0:07:00.401 --> 0:07:02.481 Anyway, They've got to work out how to divvy up 0:07:02.521 --> 0:07:05.361 the rates bills. But it certainly, you know, if you rate, 0:07:05.481 --> 0:07:08.441 if your RV drops, it certainly doesn't mean that you're 0:07:08.441 --> 0:07:09.881 going to pay less rates. 0:07:10.201 --> 0:07:13.321 Unless you get it dropped after they've done all the. 0:07:15.041 --> 0:07:15.161 Like. 0:07:15.361 --> 0:07:18.201 For instance, the council's redone all its rates. They've said it, 0:07:18.241 --> 0:07:21.161 and you oppose yours and you get it lower, well 0:07:21.161 --> 0:07:22.761 you will get a lower rates build than you would 0:07:22.761 --> 0:07:25.201 have had otherwise, I guess on that. 0:07:25.121 --> 0:07:28.881 Score, yeah, exactly. But I certainly wouldn't be saying to anyone, 0:07:29.041 --> 0:07:31.041 you know, go out there and argue about your rates 0:07:31.081 --> 0:07:33.841 because you'll pay cheaper rates, because it might not be 0:07:33.921 --> 0:07:36.481 cheaper than what you were previously paying. You know, most 0:07:36.721 --> 0:07:40.521 I mean most councils across New Zealand they need extra 0:07:40.841 --> 0:07:43.961 income coming in from rates because the infrastructure is staffed. 0:07:44.441 --> 0:07:50.161 Does it do they impact things like insurance rates? RV? 0:07:50.401 --> 0:07:53.121 Does it impact on insurance? I wouldn't have thought so, 0:07:53.401 --> 0:07:56.441 because insurance is about the value of the improvements, isn't it. 0:07:57.081 --> 0:07:59.961 Yeah, as far as I'm aware, it doesn't affect. But 0:08:00.081 --> 0:08:02.241 I could be wrong. I'm not an insurance advisor. 0:08:02.361 --> 0:08:06.201 I do know, but you insure properties, maybe yeah. 0:08:05.881 --> 0:08:09.281 Yeah, but I've never thought about that. That's a good question. 0:08:09.801 --> 0:08:11.721 Well, there we go. There's some homework for you. Come 0:08:11.761 --> 0:08:13.321 back and have an answer for us. Next time. 0:08:14.121 --> 0:08:16.481 We might have an insurance advisor listening that can phone 0:08:16.521 --> 0:08:16.921 us up and. 0:08:16.921 --> 0:08:19.321 Tell us very good call. I wait, one hundred eighty 0:08:19.321 --> 0:08:23.921 ten eighty Okay, So if you are, that's confession time. 0:08:23.961 --> 0:08:25.281 And I don't know what your answer is to this. 0:08:25.361 --> 0:08:27.361 It's not like I'm saying, oh, Debbie's got a confession 0:08:27.401 --> 0:08:29.681 for us. But if you are out to look at 0:08:29.721 --> 0:08:33.521 a property, are you one of those people who despite 0:08:33.841 --> 0:08:36.881 you know, we can all theoretically say, oh, RV doesn't matter. 0:08:36.921 --> 0:08:38.841 It's what the property's worth, it's what somebody's prepared to 0:08:38.841 --> 0:08:40.681 pay for it. It's what the capital improvements and all 0:08:40.721 --> 0:08:43.961 that sort of thing are. But are you do you 0:08:44.001 --> 0:08:46.721 follow that yourself? Or if you were looking at buying 0:08:46.721 --> 0:08:49.961 a particular property, would you still be saying to the 0:08:49.961 --> 0:08:52.761 real estate agent as you walk in the door, Hey, 0:08:52.761 --> 0:08:54.201 I see you've got a value of such and such 0:08:54.241 --> 0:08:56.881 on this. What's the RV? By the way, hm? 0:08:57.321 --> 0:09:01.121 Would you don't think I've ever asked a realistic agent that, 0:09:01.921 --> 0:09:05.441 certainly not in the last twenty years. Maybe in the 0:09:05.481 --> 0:09:08.001 early days, I was really hoping that before I understood how, 0:09:08.401 --> 0:09:09.161 I was really. 0:09:08.921 --> 0:09:11.961 Just hoping for a touch of hypocrisy. But you know how, 0:09:12.001 --> 0:09:15.601 it's because it's still a piece of information. And if 0:09:15.641 --> 0:09:18.121 you were looking at other properties in the neighborhood, and 0:09:18.161 --> 0:09:21.441 you're looking at similar ones, you might be curious, Say, 0:09:21.441 --> 0:09:23.121 if there were two or three properties all sort of 0:09:23.121 --> 0:09:25.441 similar in the neighborhood, I would want to know what 0:09:25.481 --> 0:09:27.881 the RV was, because I would be curious as to 0:09:27.921 --> 0:09:31.601 why three seemingly identical houses. Say I'm looking for a 0:09:31.601 --> 0:09:34.721 three bedroom villa somewhere in the similar neighborhood, they've all 0:09:34.761 --> 0:09:38.401 got similar amount of land square footage, if one had 0:09:38.401 --> 0:09:44.081 a drastically different RV, does that would you be curious? 0:09:44.481 --> 0:09:47.521 So something that I would consider. But I mean i'd 0:09:47.521 --> 0:09:49.961 normally know that information before I went and looked at 0:09:49.961 --> 0:09:52.121 a property anyway. I don't mean to sound obnoxious. 0:09:52.321 --> 0:09:55.561 No, Actually, as I was asking that, I'll be honest people. 0:09:55.601 --> 0:09:58.681 As I was asking dB, I was thinking dB would 0:09:58.721 --> 0:10:01.641 go in knowing what the value of that property was. Anyway, 0:10:01.681 --> 0:10:03.521 you'd be aware of what you could probably rent it 0:10:03.561 --> 0:10:06.721 for if you wanted to. If you're running the property apprentice, 0:10:06.761 --> 0:10:08.481 you probably go and knowing a few things, won't you. 0:10:08.521 --> 0:10:12.921 One would hope, run would hope. But yeah, sometimes it's 0:10:13.041 --> 0:10:17.521 useful to see to see where recent sales have been 0:10:17.561 --> 0:10:22.401 in comparison to the RVs, because if RV's as a whole, 0:10:22.481 --> 0:10:25.761 if properties on average are selling five percent below RV, 0:10:25.881 --> 0:10:28.121 that gives you an indication, or if they're selling ten 0:10:28.161 --> 0:10:30.521 percent above RV, that can give you a bit of 0:10:30.521 --> 0:10:31.841 an indication, but it's. 0:10:31.681 --> 0:10:33.561 Not Is that more of a macro view? 0:10:33.721 --> 0:10:35.481 Yeah, absolutely, So you're just looking at. 0:10:35.401 --> 0:10:38.881 The entire market. And so where Nick gord Or from 0:10:38.881 --> 0:10:42.121 core Logicon, and he'd probably say, well, statistically, we noticed 0:10:42.121 --> 0:10:45.001 that the last hundred properties that's sold in Wellington or 0:10:45.041 --> 0:10:47.961 something all sold at five percent RV. It's a useful 0:10:48.001 --> 0:10:52.561 statistical I can't even say statistical statistical. There we are. Hey, 0:10:52.801 --> 0:10:54.721 let's take some calls on this. Do you care about 0:10:54.841 --> 0:10:58.761 RV and have you ever haggled it down? Or here's 0:10:58.761 --> 0:11:00.761 a strange one. Have you ever haggled it up? Because 0:11:00.761 --> 0:11:02.161 you wanted people to walk in the door and go, 0:11:02.361 --> 0:11:03.281 how much is the RV? 0:11:03.401 --> 0:11:03.601 Oh? 0:11:03.761 --> 0:11:09.801 I better go and find some more money for your property. Allen, Hello, Yes. 0:11:09.681 --> 0:11:13.241 That happening. I'm nenver really worried too much about the 0:11:13.321 --> 0:11:16.721 RVs because I used to sell real estate and it 0:11:16.801 --> 0:11:20.121 didn't really affect the sales in any way that I 0:11:20.161 --> 0:11:25.361 could imagine. And the sales salesmen and real estate have 0:11:25.481 --> 0:11:27.481 got a really good grip on the market generally if 0:11:27.481 --> 0:11:29.441 they've been in the game for a couple of years. 0:11:29.841 --> 0:11:35.801 But my question is we're an upper heart. We're just 0:11:35.841 --> 0:11:38.881 suffered a twenty percent increase in rates up there, and 0:11:39.321 --> 0:11:41.121 it's going to go and do the same thing again 0:11:41.161 --> 0:11:43.881 this year. And the excuse is, you know, they've got 0:11:43.921 --> 0:11:47.361 infrastructure and all this ru Blani that they talk about 0:11:48.441 --> 0:11:51.681 really they're just getting the extra money. I thought to 0:11:51.721 --> 0:11:55.441 pop up this new Wellington water thing that they're running, 0:11:55.521 --> 0:11:57.281 and it's just a new way of getting money. 0:11:57.281 --> 0:12:00.201 But what's there only way of getting money? Isn't it 0:12:00.321 --> 0:12:01.041 just about Well? 0:12:01.121 --> 0:12:05.761 No, see all these all these new bills that around Opperhart, 0:12:05.801 --> 0:12:08.961 and there are many, they never mentioned how much money 0:12:09.001 --> 0:12:12.681 they're getting out of those rates for those new properties 0:12:13.121 --> 0:12:16.081 and all the extra money that they get when you 0:12:16.161 --> 0:12:19.241 subdivide a property. So how do you find all that 0:12:19.281 --> 0:12:20.081 information out? 0:12:21.161 --> 0:12:22.041 DEMI over to you. 0:12:22.321 --> 0:12:25.441 That is a very good question and again another question 0:12:25.561 --> 0:12:27.841 that I don't know the answer to. So, yeah, but 0:12:27.961 --> 0:12:31.041 you're absolutely right. With all of the new developments going on, 0:12:31.961 --> 0:12:34.481 and especially since a lot of the new developments have 0:12:34.601 --> 0:12:38.241 been one or two bedroom properties, I think it's no 0:12:38.561 --> 0:12:41.841 surprise that a number of areas have had a significant 0:12:41.881 --> 0:12:46.681 decrease in the RVs because obviously the average rds because 0:12:46.841 --> 0:12:50.841 if there's a lot more smaller value properties with smaller land, 0:12:51.761 --> 0:12:55.281 then that would drag the average down. But yeah, you 0:12:55.321 --> 0:12:58.841 would think that if there were more properties, more rate 0:12:58.921 --> 0:13:02.401 payers for those properties, then that would spread the load 0:13:02.401 --> 0:13:03.241 a little bit further. 0:13:04.041 --> 0:13:06.721 Alan, can I just ask, as a former real estate agent. 0:13:06.801 --> 0:13:08.921 You were saying that most of the real start agents 0:13:09.001 --> 0:13:11.441 have a very good idea what properties are worth. How 0:13:11.481 --> 0:13:13.921 often were you surprised in the course of your career 0:13:14.001 --> 0:13:16.641 with what someone paid for a property where you thought, well, 0:13:16.681 --> 0:13:19.921 it's probably worth half a million, and all of a sudden's. 0:13:19.601 --> 0:13:26.401 Like what yeah, once or twice, yeah, but never never, 0:13:26.561 --> 0:13:30.601 Like we've just come through a great, big charade really 0:13:30.681 --> 0:13:33.321 about how much properties were. We all knew that was 0:13:33.361 --> 0:13:36.561 going to blow up in our faces and it started 0:13:36.601 --> 0:13:39.561 to now. But you know, some people did well out 0:13:39.561 --> 0:13:42.001 of it, and I'm very pleased to see that because 0:13:42.001 --> 0:13:45.361 I'm elderly now. Some people an orphan made a lot 0:13:45.401 --> 0:13:48.721 of money out of old properties that they paid, you know, 0:13:48.841 --> 0:13:53.041 three thousand pounds for way back sixty years ago and 0:13:53.081 --> 0:13:56.041 then walked away from their property for one point six 0:13:56.121 --> 0:14:00.841 million and they've been Yeah, and they've quite a nice 0:14:00.881 --> 0:14:06.961 accommodation and these license your five places. Yeah, and they've 0:14:06.961 --> 0:14:12.641 also managed to travel around the world and cruise. That's 0:14:12.641 --> 0:14:13.761 what we're supposed to be doing. 0:14:13.921 --> 0:14:18.441 Not got on your hat when do where you are 0:14:18.521 --> 0:14:19.561 so we might have to leave it there, but I 0:14:19.641 --> 0:14:22.801 appreciate you call. We we want your feedback on this 0:14:22.841 --> 0:14:25.601 as well. Do you care about your RV and if so, 0:14:25.761 --> 0:14:27.801 why do you care about it? Is it simply because 0:14:28.001 --> 0:14:30.321 you are worried about the proportion of the rates bill 0:14:30.361 --> 0:14:33.481 that you are shouldering, or is it because you actually 0:14:34.081 --> 0:14:37.201 don't like the idea of an RV under selling your house. 0:14:37.761 --> 0:14:39.201 Give us a call on one hundred and eighty ten 0:14:39.281 --> 0:14:40.601 eighty before we go to the break. I've got one 0:14:40.601 --> 0:14:42.601 more question for you, a debbie. It was not just 0:14:42.681 --> 0:14:45.121 one for the r but one for one more just 0:14:45.121 --> 0:14:49.881 for the moment. Are there times when people are more 0:14:49.921 --> 0:14:53.081 cognizant of things like r vs? As you were saying, like, 0:14:53.161 --> 0:14:55.641 regardless of what you say in your attitude towards an RV. 0:14:56.801 --> 0:14:59.361 You mentioned how people walk in and they say, what's 0:14:59.401 --> 0:15:01.001 the r V for this? What's the r V for this? 0:15:01.441 --> 0:15:03.041 And I have a feeling that when a market is 0:15:03.041 --> 0:15:07.441 a bit flat, that the role of the RV maybe 0:15:07.721 --> 0:15:11.561 takes a little bit more presence in the conversation because 0:15:11.721 --> 0:15:14.961 when the property is nuts, nobody stops to ask for 0:15:15.001 --> 0:15:16.561 the RV because they're just like, Oh, what's this going 0:15:16.601 --> 0:15:18.081 to go for? They've done all their research. But in 0:15:18.121 --> 0:15:20.481 a flat market, people start going, I don't know, what's 0:15:20.561 --> 0:15:22.641 what's the RV on this? I don't know. 0:15:22.841 --> 0:15:26.321 My experience has been that people ask the RV. I mean, 0:15:26.361 --> 0:15:28.601 I'm not a real estate agent, but my experience in 0:15:28.921 --> 0:15:31.601 certainly looking in open homes and things like that is 0:15:31.641 --> 0:15:33.601 that it doesn't matter what the market is doing, people 0:15:33.641 --> 0:15:34.361 always ask. 0:15:35.041 --> 0:15:39.201 So yeah, And maybe it's because also a lot of 0:15:39.321 --> 0:15:42.601 properties aren't advertised with you know, my property is for 0:15:42.641 --> 0:15:45.841 sales for yours for nine hundred thousand dollars. It's my 0:15:45.921 --> 0:15:48.921 properties for sales three bedroom, such and such. So they're 0:15:48.961 --> 0:15:51.361 grasped for a first piece of information well as what's 0:15:51.401 --> 0:15:51.761 the RV. 0:15:52.201 --> 0:15:55.201 I tee interesting story? Well I thought it was interesting. 0:15:55.401 --> 0:15:58.401 So a few years ago when the market, yeah, you 0:15:58.441 --> 0:16:00.041 tell me if you thought it was all right or not. 0:16:00.361 --> 0:16:02.801 But yeah, a few years ago, when the market was 0:16:02.921 --> 0:16:06.401 much stronger, I remember having a conversation with a realistic 0:16:06.441 --> 0:16:08.841 agent friend of ours, and he was saying that he 0:16:08.921 --> 0:16:11.401 had to go around and explain to this couple that 0:16:11.681 --> 0:16:15.241 their RV was much higher than the market value for 0:16:15.321 --> 0:16:18.161 their property. And I said, oh, is that going to 0:16:18.201 --> 0:16:20.601 be an awkward conversation? He said, nap, because I'm going 0:16:20.641 --> 0:16:23.721 to advertise it as selling below RV and it's probably 0:16:23.721 --> 0:16:25.121 going to sell for more than it's worth. 0:16:26.201 --> 0:16:28.121 Well, that would be interesting if we knew the punchline 0:16:28.161 --> 0:16:29.441 did itself for more than it's worth. 0:16:29.561 --> 0:16:33.641 Yeap oh, because what home own is. Don't understand what 0:16:33.761 --> 0:16:36.641 this was when the market was booming, so probably twenty twenty, 0:16:37.041 --> 0:16:40.801 yeah enough, so you know, people at the time they 0:16:40.841 --> 0:16:43.801 were just you know, people don't understand what it means. 0:16:43.841 --> 0:16:47.521 So a lot of the time, especially home buyers, they 0:16:47.681 --> 0:16:50.361 make their decisions based on what they think of facts, 0:16:50.481 --> 0:16:52.841 and people know that RVs have got something to do 0:16:52.881 --> 0:16:53.441 with value. 0:16:53.641 --> 0:16:56.481 Yeah, because as someone who's not experienced in real estate, 0:16:56.481 --> 0:16:57.961 I'll be honest, if I was going to look at 0:16:57.961 --> 0:17:00.001 a house, I would look at the RV just to 0:17:00.041 --> 0:17:02.801 simply have a starting point for going because obviously if 0:17:02.841 --> 0:17:04.401 I went and saw a place and it's like, okay, 0:17:04.841 --> 0:17:06.801 two million bucks, I'll be like, okay, well I'm not 0:17:06.841 --> 0:17:10.241 in I'm not in the hunt. And that she probably 0:17:10.241 --> 0:17:12.801 plays into the first time I ever inquired about property 0:17:13.321 --> 0:17:16.601 in Melbourne and they used to the real estate agents 0:17:16.641 --> 0:17:18.601 would be and this wasn't back and it was less 0:17:18.601 --> 0:17:20.761 than two hundred thousand dollars, was it, or maybe a 0:17:20.801 --> 0:17:23.241 little bit over, so it's a while ago. I probably 0:17:23.241 --> 0:17:25.801 should have bought it now because be with a fortune now. 0:17:26.121 --> 0:17:29.521 But I went in and I said to the reader 0:17:29.561 --> 0:17:32.721 state agent, I said, so, what's what's the sort of 0:17:32.761 --> 0:17:35.521 asking range for this? And he said, I don't know 0:17:35.521 --> 0:17:37.121 what he said. Let's pretend he said two hundred and 0:17:37.121 --> 0:17:39.961 fifty thousand dollars and I actually looked him in the eye. 0:17:39.961 --> 0:17:41.881 I said, okay, I said, I've heard this a few 0:17:41.921 --> 0:17:44.361 times now, and it turns out the property has been 0:17:44.401 --> 0:17:47.281 selling a lot more more. This is my budget? Am 0:17:47.321 --> 0:17:49.081 I in? And he said, no, you're wasting your time 0:17:50.441 --> 0:17:53.801 And I thought, thank you for your honesty, because but 0:17:53.881 --> 0:17:56.841 that was Australia, a different situation. But yeah, so that's 0:17:56.841 --> 0:18:00.281 for me. The starting point would still be what's the IV. 0:18:00.441 --> 0:18:01.441 I didn't even know that at the time. 0:18:01.681 --> 0:18:05.321 Yeah, I would suggest if anyone's looking for a starting point, 0:18:05.521 --> 0:18:07.041 what you need to do is have a look at 0:18:07.121 --> 0:18:09.641 other properties that have sold in the area and how 0:18:09.721 --> 0:18:14.161 that compares. Because it's public information that's property sold, so 0:18:14.321 --> 0:18:17.001 you can find out how much it's sold for Realistic 0:18:17.041 --> 0:18:19.441 agents will give you that information as well, so they 0:18:19.481 --> 0:18:23.641 can do a comparative market analysis for you. And then 0:18:23.721 --> 0:18:27.401 you can use those recent comparable sales to give you 0:18:27.441 --> 0:18:29.401 an idea as to what market value is for the 0:18:29.401 --> 0:18:30.201 property you're looking at. 0:18:30.281 --> 0:18:32.081 I've got some follow up questions for that, but guess what, 0:18:32.281 --> 0:18:33.921 we've got some calls to go to and we've got 0:18:33.961 --> 0:18:35.481 to take a quick moment, so we'll be back, and 0:18:35.521 --> 0:18:37.641 just to tick, what do you think about RV's how 0:18:37.681 --> 0:18:40.761 much attention do you pay them? Eight hundred eighty t 0:18:40.881 --> 0:18:43.561 and eighty text nine two nine two will be back, 0:18:43.601 --> 0:18:46.041 and just to take My guest is from Property Apprentice. 0:18:46.081 --> 0:18:48.361 She's a financial advisor and her name is Debbie Roberts. 0:18:48.921 --> 0:18:50.561 Back in the moment, new Stick said, be yes, welcome 0:18:50.601 --> 0:18:52.481 back to the one roof radio show on Tim Beverage. 0:18:52.481 --> 0:18:55.281 This is my sorry. My guest is Debbie Roberts. She's 0:18:55.281 --> 0:18:58.041 a financial advisor at Property Apprentice, talking about the importance 0:18:58.161 --> 0:19:01.281 or the lack of importance of the RVE. Your calls. 0:19:01.401 --> 0:19:04.681 Eight hundred eighty ten eighty Bob, good afternoon. 0:19:05.521 --> 0:19:06.281 Do it after that. 0:19:07.281 --> 0:19:10.361 The way I've sold my house is I've always put 0:19:10.401 --> 0:19:13.681 a registered valuer through first, and my costume needs to 0:19:13.761 --> 0:19:18.161 five hundred bucks or whatever whatever. But then then go 0:19:18.241 --> 0:19:20.361 to the real estate agent because they come up with 0:19:20.401 --> 0:19:24.001 the figures. They do the background. There's no bias in 0:19:24.041 --> 0:19:28.001 any direction. They do the background. You then go to 0:19:28.041 --> 0:19:30.481 the real estate agents and then you look for one 0:19:30.521 --> 0:19:33.601 that's pretty well comes out at the same time as 0:19:33.721 --> 0:19:35.921 the registered valuer. 0:19:35.841 --> 0:19:39.441