Kim Walker: 'Quarter acre' a relative dream

US real estate agent Kim Walker says she still considers New Zealand home. Photo Supplied

Opinion

Former Dannevirke woman Kim Walker recently brokered a record-breaking US$55 million
($74m) house sale in California.

The rising star tells Mark Story the US quarter-acre equivalent comes at a premium.

What inspired your move from Dannevirke to the US?

At age 20 I wasn't quite sure what I wanted to do with myself, and stumbled across an advertisement in the local newspaper from a Southern California family seeking a live-in Nanny.

I called the number and found myself on a plane the following week bound for Long Beach California. I planned on staying for six months, and here I am today 31 years later. I met my husband Michael, who is from Palmerston North and now have two daughters, Hannah (22) and Gracie (20).

What are the major differences in working in real estate in the US v New Zealand?

I found myself interested in real estate about 15 years ago, and with my husband being a general contractor it seemed to make sense that I become licensed to take care of our own transactions.

It seemed to work a little differently here than in New Zealand, most buyers and sellers have their own agents so each deal usually involves two agents, an escrow company, and title company. A good portion of the transactions here in Newport don't even involve a loan, there are a lot of "all-cash" buyers. It can be pretty fast paced.

Is there a quarter-acre dream equivalent in the US?
I would say yes, but a quarter-acre comes at a premium in Newport, if you spent $2-3 million, you would be purchasing a fixer without a view. Everyone wants it, but the reality is it is very hard to achieve, especially for first-home buyers.

Housing affordability/lack of houses is a huge issue here - is it an issue in the US?

Housing affordability and lack of housing is also a big issue in California, the median house price in Dannevirke for instance is $171,000 and the median home price in Newport Beach is $1,713,700.

This will most likely buy a very modest home on a very small lot with no view. On top of this you have to pay the state 1.1 per cent of the purchase price of your home in property tax (equivalent of NZ rates), so I do worry that my kids will not be able to afford to purchase a home where they grew up.

A good portion of homeowners here in Newport Beach are out of state or offshore owners, and these would be their second or even third homes.

What's the one thing you miss most about Dannevirke?

Of course I miss my family and friends the most. It is such fun when I get to catch up with someone I haven't seen in 20-plus years, and learn their story.

Everyone is older of course, but all generally the same people I knew 31 years ago. We will be home for Christmas this year, so my kids are already planning their New Year's Eve shenanigans. Home is always home, and my kids consider New Zealand their home too.