mowlem

Barnard Marcus auction results (rampers look away now)

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3 hours ago, mowlem said:

NOTHING SELLS ON THE DAY!!!!!!

 

15 lots. 2 sold prior

 

https://www.eigpropertyauctions.co.uk/live-stream/auction/auction-house-thames-valley

 

Wow........

 

Very Interesting.

I was looking at Clive Emsons Kent auction today (first 30 lots) and it appeared very strong with lots going above guide. Looks like the market is very location-specific at the moment.

https://www.eigpropertyauctions.co.uk/live-stream/auction/clive-emson-kent-south-east-london

Edited by GreenDevil

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At Strettons auction today, mainly freehold ground rents. Actual houses were lots 1-25. Of these, 8 were sold on the day, 2 sold prior,  2  withdrawn. Not good.

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1 hour ago, mowlem said:

At Strettons auction today, mainly freehold ground rents. Actual houses were lots 1-25. Of these, 8 were sold on the day, 2 sold prior,  2  withdrawn. Not good.

linky?

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10 minutes ago, Patient London FTB said:

Lot 56 coming up now should be interesting. £250k for rights to roof space in Bermondsey to build a one-bed flat. 

Highest bid £243k. Unsold. Looked like there were three bidders, staying cautious. 

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8 minutes ago, Patient London FTB said:

Highest bid £243k. Unsold. Looked like there were three bidders, staying cautious. 

The usual story. Cheap stuff up north selling. Nothing selling in the SE unless the reserve is at guide.

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3 minutes ago, Cosmic Apple said:

Whats the thinking on that lot? Presumably all you buy is the responsibility to maintain them. No income stream as the units will have right of way?

Nothing but expense, maintenance, solicitors fees. There was no reserve and no bids. I guess its not even worth a fiver. Probably considered a ransom strip, though probably has another access if there was no interest. 

Wonder what theyll be selling next? A roofspace ? Oh hang on...

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Wonder what the story is on this one:

 

Lot 72
Portfolio of 5 flats and 11 garages in, Aylesbury, Didcot, Fleet & Twyford, Reading Unsold £35,000

 

Edit: Ground rent lot?

Edited by Cosmic Apple

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Been following the auctions a lot recently.

As others have said massive trend towards:

Roof spaces

Ground rent portfolios

Garage blocks

Freehold on roads

London homes that don't sell as the reserves are too high

Northern homes that cost less a lot than they'd cost to build

HMOs selling with massively unrealistic rental yields; such as the house in 8 bedroom house in Hull rented out for £90k a year or the £1100 a month per room HMO on Edge Lane, Liverpool.

My favourite game is to google the address of the houses that look decent but haven't sold. It is usually either a murder scene or the scene of a grooming gang. Best result was doing a street view on one of the houses and seeing the jailed owner standing outside it.

 

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1 hour ago, Timak said:

 

My favourite game is to google the address of the houses that look decent but haven't sold. It is usually either a murder scene or the scene of a grooming gang. Best result was doing a street view on one of the houses and seeing the jailed owner standing outside it.

 

Any idea why lot 5 didn't sell? No undesirables outside http://www.a-rpropertyauctions.co.uk/property-for-sale-by-auction/lot-details/45-chetwode-road-tooting-london-sw17 7rf/67703

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8 minutes ago, Patient London FTB said:

Most of the london stuff i saw was bid up to the guide price (which wasnt high enough) and was unsold. Ie vendors have too high expectations.

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4 minutes ago, GreenDevil said:

Most of the london stuff i saw was bid up to the guide price (which wasnt high enough) and was unsold. Ie vendors have too high expectations.

Yep. It feels like a stand off... so they either stay put until the frustration gets the better of them or they have no financial issues. The job market ia still helping to keep disruption to a minimum ? 

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2 hours ago, Timak said:

Been following the auctions a lot recently.

As others have said massive trend towards:

Roof spaces

Ground rent portfolios

Garage blocks

Freehold on roads

London homes that don't sell as the reserves are too high

Northern homes that cost less a lot than they'd cost to build

HMOs selling with massively unrealistic rental yields; such as the house in 8 bedroom house in Hull rented out for £90k a year or the £1100 a month per room HMO on Edge Lane, Liverpool.

My favourite game is to google the address of the houses that look decent but haven't sold. It is usually either a murder scene or the scene of a grooming gang. Best result was doing a street view on one of the houses and seeing the jailed owner standing outside it.

 

How do you tell from street view he’s been jailed? What am I missing here

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11 minutes ago, maverick73 said:

Yep. It feels like a stand off... so they either stay put until the frustration gets the better of them or they have no financial issues. The job market ia still helping to keep disruption to a minimum ? 

Stuff not in the South east was selling.

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53 minutes ago, maverick73 said:

Yep. It feels like a stand off... so they either stay put until the frustration gets the better of them or they have no financial issues. The job market ia still helping to keep disruption to a minimum ? 

Seems the only forced/motivated sellers are London councils 

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I looked into buying something at auction once. However, my solicitor warned me that a buyer at auction is at a huge disadvantage compared with a normal purchase. The property I was looking at had a charge placed on it by a court, but the auction company tried to obscure that vital piece of information..

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2 hours ago, thewig said:

How do you tell from street view he’s been jailed? What am I missing here

Google the address, saw the article about the bloke who had been running a grooming gang from that property, looked at street view and saw him standing outside the house.

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2 hours ago, Patient London FTB said:

Seems the only forced/motivated sellers are London councils 

Yes, that was the only stuff where the reserve was at guide :)

 

 

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http://www.barnardmarcusauctions.co.uk/Auction-Results.html

Massacre yesterday (maybe a bit hyperbolic but this is HPC) but this was hopefully a wake up call to a lot of people. 

London stuff is not selling without a big discount to 2017 values (still way higher than it should be) and "investment" houses in places like Cornwall and Northants seem to be 20-50% less than they sold for as new builds 10 years ago.

https://auctioneertemplates.eigroup.co.uk/LotDetails.aspx?LotID=905355&a=5&c=brn sold for £142k new - now £85k

I see the same houses coming up again and again chasing the market down - this one looks a lot of house for the money now but I've seen the "buy it now" drop by £200k over the last few months and still no takers.

https://auctioneertemplates.eigroup.co.uk/LotDetails.aspx?LotID=905152&a=5&c=brn

 Extra 3% stamp duty and changes to BTL seem to be working, at least in auctions.

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