MumblesisNuts Posted October 31, 2011 Share Posted October 31, 2011 I'm new to posting on this forum, but not new to reading and watching this forum with interest. I've recently returned to Mumbles where I lived for the best part of my adult life, to find this.......this.........absolute gem of a house, rather decently priced too ! If Carlsberg did Denial ! Last bought in 2006 for approx £343k, now at the highly reasonable price of £595k. I think they may be in for a rude awakening and a loss that would make that well known tw*t Richard Desmond squirm ! Quote Link to comment Share on other sites More sharing options...
niceathome Posted October 31, 2011 Share Posted October 31, 2011 This is the one that I posted about earlier on the Swansea thread. Good one isn't it? I honestly thought it was a typo when I saw his last week, £395 not £595K, the house next door has just sold and it will be interesting to see the price paid fron land reg in a few weeks. Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted October 31, 2011 Share Posted October 31, 2011 to be fair they have done a nice renovation job - the price is still at least over 150k too much - the problem is that there are idiots out there who will offer close to the asking price! who these people are i really dont know Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 31, 2011 Share Posted October 31, 2011 I am shocked that you think 395K would be OK for it!!! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 31, 2011 Share Posted October 31, 2011 For that money I would want a large sun room the width of the rear of the house and not a small conservatory. Quote Link to comment Share on other sites More sharing options...
MumblesisNuts Posted October 31, 2011 Author Share Posted October 31, 2011 I am shocked that you think 395K would be OK for it!!! agree, agree strongly......£395 is nuts for that place ! Quote Link to comment Share on other sites More sharing options...
bewildered_renter Posted November 1, 2011 Share Posted November 1, 2011 Looks like they spent so much they didn't even have enough left over for a TV stand. Still, at least they didn't mount it on the wall. Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 1, 2011 Share Posted November 1, 2011 ok maybe i am going soft! but it is a nice quiet road, nice garden with some views and well fitted (so far as you can tell from the pics) so does "tick the boxes".I think about 380-400 is fair. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 1, 2011 Share Posted November 1, 2011 ok maybe i am going soft! but it is a nice quiet road, nice garden with some views and well fitted (so far as you can tell from the pics) so does "tick the boxes".I think about 380-400 is fair. IMPO your HPC handle is spot on 300K I would give for that modernised. Sorry, not a penny more. Quote Link to comment Share on other sites More sharing options...
Swansea Estate Agent Posted November 2, 2011 Share Posted November 2, 2011 ok maybe i am going soft! but it is a nice quiet road, nice garden with some views and well fitted (so far as you can tell from the pics) so does "tick the boxes".I think about 380-400 is fair. That is about the price that you should expect the property to be advertised for. Less the 20% below asking price that should be offered is round about the house value £300,000 - £320,000 Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 2, 2011 Share Posted November 2, 2011 ps who is Richard Desmond? Quote Link to comment Share on other sites More sharing options...
juvenal Posted November 2, 2011 Share Posted November 2, 2011 ps who is Richard Desmond? Owner of The Express and Channel 5, and an around £900m fortune, much of which is in property. One time adult mag and channels owner. Major player. That Richard Desmond? http://en.wikipedia.org/wiki/Richard_Desmond Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 2, 2011 Share Posted November 2, 2011 if they bought for 343k and spent maybe 100k they have got to get 450-500k to break even, hence i assume the pasking price.I am sure they will be happy to get away evens from this one.A classic case of paying too much for your development project. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 2, 2011 Share Posted November 2, 2011 if they bought for 343k and spent maybe 100k they have got to get 450-500k to break even, hence i assume the pasking price.I am sure they will be happy to get away evens from this one.A classic case of paying too much for your development project. Don't forget, 2006 was in the middle of Swansea West asking prices going nuts so shouldn't that 343K paid price be taken with a bit pinch of buyer beware? Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 2, 2011 Share Posted November 2, 2011 thats my point.Presumably they paid 343k for a run down bungalow and thought they could not loose! bad timing and even worse pricing! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 2, 2011 Share Posted November 2, 2011 thats my point.Presumably they paid 343k for a run down bungalow and thought they could not loose! bad timing and even worse pricing! Yes, my thoughts also. As I have said previously, with such a big rear garden I would expect a large house width sun room on the back of that property - and still pay much less than their asking price. Friends of mine just paid 30K to have a large sun room put on the back of their house, their kitchen opened up into it and a complete new kitchen, expensive cooker all for 30K. Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 2, 2011 Share Posted November 2, 2011 equally as hopefull! http://www.simpsonsproperty.co.uk/fe_property/property_details.asp?property_id=2020 Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 2, 2011 Share Posted November 2, 2011 equally as hopefull! http://www.simpsonsproperty.co.uk/fe_property/property_details.asp?property_id=2020 There's quite a few similar to that in the Murton, Bishopston, Reynoldston areas IMPO. IMPO I would say they are just kite flying with asking prices like that. I was looking at the above one and, again IMPO, it is just a big box isn't it? Or am I wrong? I don't personally see anything special in it as a house - it lacks any character that I can see? Perhaps I am missing something. I have noticed some of the 400K plus to 800K plus houses now beginning to take big chunks off their asking prices. They are coming down but, IMPO, just chasing the market down. At this rate it will be several years before they get to realistic prices. Let's hope the EU blows up this weekend - by next week such houses might be grateful to get 150K if the banks go pop! Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 2, 2011 Share Posted November 2, 2011 its not even that big a box, right on the main road and impo needs full redecoration.380k for this one me think! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 2, 2011 Share Posted November 2, 2011 Well, you are far more generous financially than I am. You know, asking prices IMPO have been so delusional in Swansea for the last 6 or 7 years that people now think that they are acceptable. You take a 100K or 200K off some of the asking prices and you think "Oh, that is more sensible" but it usually is not. People need a slap in the face with a wet kipper to work out what it will actually cost in terms of mortgage repayment on these homes. I am willing to bet that large numbers of people in Swansea West are on interest only mortgages - think I read that somewhere - and have no way of paying off the capital at the end of the day. Such people were relying on capital appreciation and some other mug coming along to buy their house. We are now heading back to a reality where the banks are bust - they may be closing the ATMs within hours if the Euro mess is not sorted - and in a year or two the IRs are going to soar and soar. Nope, I was talking to a banker I know today - rich sod - who has sold up and has moved into rental today because she believes a huge crash in house prices is coming. She said that before this is out we will see fear in the eyes of house sellers. Quote Link to comment Share on other sites More sharing options...
mumblesmental Posted November 2, 2011 Share Posted November 2, 2011 you might just be right! i have just slapped myself with that wet kipper and and i now quote a revised 200k! long day... Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 2, 2011 Share Posted November 2, 2011 you might just be right! i have just slapped myself with that wet kipper and and i now quote a revised 200k! long day... That's more like it. Be sure to keep that wet kipper handy. Give it a few years and mortgage rates will be 105 or even higher. Then you will see how much a house is truly worth. Quote Link to comment Share on other sites More sharing options...
MumblesisNuts Posted November 2, 2011 Author Share Posted November 2, 2011 thats my point.Presumably they paid 343k for a run down bungalow and thought they could not loose! bad timing and even worse pricing! aye......and they want to stuff some poor b*stard with the consequence of their mistakes..... went past it earlier, I live close by, £300k max with reasonable non specufestor goggles on. Quote Link to comment Share on other sites More sharing options...
Tankus Posted November 2, 2011 Share Posted November 2, 2011 at the lower end ...bought for £90K 2008 ..referb.... on the market for £165K ...for nearly 3 years ...now £149K http://www.zoopla.co.uk/for-sale/details/12605116?search_identifier=0278086ded94f0083b920a5a1f36e4d4 Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 2, 2011 Share Posted November 2, 2011 at the lower end ...bought for £90K 2008 ..referb.... on the market for £165K ...for nearly 3 years ...now £149K http://www.zoopla.co.uk/for-sale/details/12605116?search_identifier=0278086ded94f0083b920a5a1f36e4d4 That is a lot of money for such a tiny looking place IMPO. Quote Link to comment Share on other sites More sharing options...
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