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Most Overpriced Sh*thole


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#1981 Starla

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Posted 18 October 2015 - 02:27 PM

A BTL-er with tenants wants rid of this:

 

http://www.rightmove...y-51077036.html

 

 

'Under the counter', so why is it on Rightmove?? According to Property Bee it went onto the market in March @ £125k, asking price now down to £120k (since July). Yes, soooo 'under the counter' that no other bugger in their right mind want it! :lol:

 

I can't see that 2 bedroom flat in Barrack Street, Norwich on that link. It must be under the counter or really special, or something?

 

This caught my eye. So many questions, like, what does the house really look like? http://www.rightmove...y-52934516.html


Me: I've got no desire whatsoever to get involved in BTL. It's socially destructive and morally bankrupt.

 

Work Colleague: I don't understand how you can be such a hypocrite, you rent!


#1982 MattW

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Posted 21 October 2015 - 07:35 PM

 

This caught my eye. So many questions, like, what does the house really look like? http://www.rightmove...y-52934516.html

 

It's a treehouse! ;)



#1983 Highway to Hell

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Posted 11 November 2015 - 06:09 PM

To anyone "used" to the insanity of London prices this might not seem too overpriced, but just wow!  It looks like the motel Alan Partridge was living in, and the price!

 

http://www.rightmove...y-51447283.html



#1984 MattW

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Posted 21 November 2015 - 09:47 PM

For an asking price of £130k for a maisonette style ex-LA flat I was expecting this to be in excellent nick inside:

http://www.rightmove...y-55974446.html

 

80426_6014484_IMG_08_0000_max_656x437.jp

 

Doesn't appear to be much in the way of heating either. :rolleyes: There's a lot of work to do here.



#1985 hp72

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Posted 14 December 2015 - 07:43 PM

www.rightmove.co.uk/property-for-sale/property-52440283.

The wrong side of Guildford for London, its the same size as a garage for £450k.

Looks like a flip by a developer. 

 

Not quite a sh*th*le but about £300+k overpriced. 



#1986 naturals

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Posted 11 January 2016 - 09:16 PM

Far from the worst flat that's come up in my price range, sadly.

 

http://www.rightmove...l?premiumA=true



#1987 Executive Sadman

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Posted 19 January 2016 - 09:18 PM

Far from the worst flat that's come up in my price range, sadly.

 

http://www.rightmove...l?premiumA=true

 

Communal Gym AND hot tub 

 

Firstly, the 'gym'   :lol:

Secondly, the hot tub...ewww.


Edited by Executive Sadman, 19 January 2016 - 09:18 PM.

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#1988 MattW

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Posted 20 January 2016 - 09:55 PM

A f'king garage! :blink: You can even see where the garage doors have been bricked up.

 

Exploitation of tenants - 1, keeping your vehicle off the road and frost free in a morning - 0. :P

 

http://www.rightmove...y-57463460.html

 

Grammar alert:

 

 

Benefits
Utility bills included accept council tax.

 

:rolleyes:



#1989 Bear Hug

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Posted 24 January 2016 - 11:00 PM

How to use a gap between 2 houses and try to sell it for the price a proper house?

 

http://www.rightmove...y-39389667.html

 

My general rule for Reading  is that many properties' prices approach reasonable if current asking price is halved.  This one is an exception - doesn't look good even at 25% of the asking price.. 



#1990 MattW

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Posted 27 January 2016 - 07:40 PM

^ First impressions, I didn't think it was too bad a price (for Reading) - until I looked at at the floorplan. Ye Gads, it's a triangle! :blink:

 

Here's another converted garage:

http://www.rightmove...y-57571316.html

 

One of the cheapest properties in Norwich. But oh so disappointing with it's lack of gas supply, shower room right off the open plan kitchen and tiny bedroom.

Will probably only work if a cash buyer landlord acquires it and rents it out to Uni students.

Currently rented @ £400 a month = yield of 5.6% if my calculation is correct. Not great.



#1991 XswampyX

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Posted 01 February 2016 - 10:33 PM

£50,000+ for this. No planning or anything.

 

PigSty_zpsgctdubjx.jpg

 

Oink oink!


STEU_01_Small_zps4tqivkvh.jpg

The Centre for Economics and Business Research (CEBR), July 2010,£2,000,000,000,00 (£2trillion), or £32,000 per citizen.

The Office for National Statistics (ONS), July 2010, £4,000,000,000,000 (£4trillion), or £65,000 per citizen.

The Institute of Economic Affairs (IEA), June 2010, £4,800,000,000,000 (£4.8trillion), or £78,000 per citizen.


#1992 hiace_drifter

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Posted 07 February 2016 - 01:28 PM

I found this property on the Rightmove Android app and wanted you to see it: http://www.rightmove...uk/s6p/35710992

Check out the access!

#1993 sPinwheel

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Posted 07 February 2016 - 01:30 PM

I found this property on the Rightmove Android app and wanted you to see it: http://www.rightmove...uk/s6p/35710992

Check out the access!


"A rare gem of a property stands here"

Went to Estate Agency school there.

#1994 Democorruptcy

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Posted 07 February 2016 - 03:32 PM

How to use a gap between 2 houses and try to sell it for the price a proper house?

 

http://www.rightmove...y-39389667.html

 

My general rule for Reading  is that many properties' prices approach reasonable if current asking price is halved.  This one is an exception - doesn't look good even at 25% of the asking price.. 

 

The current vendor paid 76.5% (£179,9750) of that £235k in Aug 2014

 

http://www.rightmove...y-39389667.html


Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

 

Governbankment
A "Governbankment" is a Government like ours, that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, promises our taxes will go to bankers, to cover their losses on mortgages that default.

 

The more houses cost, the more hours you have to work to buy one. The more hours you work, the more taxes you have to pay the Governbankment. The more debt you take on and the longer the mortgage term, the more interest you have to pay bankers, so the more hours you also have to work for them. 

 

House were cheap when people did mortgages at 3x main income for a whole house. Now banks encourage them to do 4.5x joint income, often for only a share of a house, the houses cost a lot more. House prices are all about people's appetite for lending. 

 

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.

http://classiclit.ab...en-Part-2_4.htm

 


#1995 MattW

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Posted 13 February 2016 - 10:19 AM

Ooh, a repo!

 

http://www.rightmove...y-38921319.html

 

 

9.2. By order of the mortgagee in possession we would advise that an offer of £99,950 has been received for the property 334 Gertrude Road, NR3 4RW.

 

£100k for a repo small flat needing work? Seems very high to me.

 

In 2003 I looked at a neighbouring flat of identical size that was on for £76k.






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