"It is a figure the council base the rates on, and the reality is the commercial market decides what a house is bought and sold for."
Searancke and husband Simon Bennett have spent around $150,000 on cosmetic renovations on their villa in the 10 years they have owned it.
It is home to them and their two children, Hermione, 10, and Reuben, 5, and renovations were carried out to make life more enjoyable - not to add value.
"We have done things to the house over the years, replaced the front bay window, revealed original features that were built over, we have painted, carpeted and polished the floors, re-gibbed and put in new kitchen cabinets. All these things you do when you plan on staying in a house - we will probably stay here forever."
Searancke sees more value in the close-knit community than the price the Auckland Council will put on her house.
But if the couple ever sold they would get an independent registered valuation.
"We would expect more [than $795,000] because we know what other comparable houses in the area have sold for.
"I don't place much stock in council valuations. We have had registered valuations done in the past and they're always higher than council's.
"If people want a real indication of what their house is worth, it is the way to go," Searancke said.
Owen Lambert is hoping he won't lose too much when council revaluations come out later this month.
The Gulf Harbour retiree wants the valuation on his four-bedroom home to hold steady - and not drop the estimated 14.19 per cent Auckland Council has calculated for the suburb north of Auckland.
"I would not be happy if it came out and the value was lower," Lambert said.
"No one wants to see their property devalued."
Lambert was surprised by the estimated decrease because he believed the area - known for it's marina and country clubs - was becoming more popular with families.
At the last council valuation in 2007 - during the peak of the market - Lambert's house was valued by the then Rodney District Council at $520,000.
If the new Auckland Council estimates are applied his valuation would drop to $447,200.
But Lambert believed his home would hold its value and pointed to monolithic clad homes in the area as the ones that might take the hit.
"If it is an average for the area, I think I'll be okay. The house is solid and I have made a lot of improvements to the gardens and the landscaping."
Lambert has had his four-bedroom, two-car garage home on the market for three weeks and has had a lot of interest.
"I've had quite a lot of people through and a few of them have been through a couple of times," Lambert said.
Lambert was hoping to buy a house in nearby Wellsford.
He said if the council revaluation of his home showed a decrease, he expected it to be reflected in his rates.
