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How Much Would You Offer For This?


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#1 gteal2008

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Posted 13 March 2009 - 12:18 AM

£80000? More or less?

Thinking about something like this, pref with 2 beds, this seems way over priced to me. :unsure:

#2 Tankus

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Posted 13 March 2009 - 12:21 AM

I do like that kitchen !

#3 gteal2008

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Posted 13 March 2009 - 12:32 AM

I do like that kitchen !



Yeah it's pretty nice for a little one bed starter place. Gonna go see it this weekend, but the EA's still seem to live in the dreamworld where nothing is wrong.

#4 Alfie Moon

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Posted 14 March 2009 - 10:26 AM

Yep, Estate Agents in Worcester seem to be particularly deluded and clueless - despite Land Registry data such as (for detached houses):

DETACHED HOUSES - SORT BY:
NAME AV PRICE (£) QUARTER ANNUAL SALES
Malvern Hills £327,710 -4.3% -7.7% 74
Wychavon £312,656 -13.8% -15.7% 82
Wyre Forest £277,828 -7.2% -3.5% 57
Redditch £248,013 8.1% -0.3% 37
Worcester £225,311 -13.0% -19.3% 59

Sources:
England and Wales
Land Registry of England and Wales, Crown copyright. The information above is based on figures provided by the Land Registry of England and Wales.
Figures for England and Wales are for the period October to December 2008.

Detached house prices in Worcester, in 2008, fell by -19.3%. They have fallen even further in January and February and are no doubt falling this month as well.

I see that you are dealing with Connells. MT and PC based in Warndon seem set on putting themselves out of business by not facing up to the reality of the market. Even if you gently and politely try to make them aware that you are knowledgeable about the market and the ongoing price falls they seem unable to move off their 'boom time' script of - in Worcester it is different, properties are flying off the shelves, asking prices are being achieved, and prices are about to start booming again.
Daft, just plain daft. I don't know why they don't just go the whole hog and wear a clowns outfit to work.

If you do decide to pursue a property you may find it beneficial to include the vendor in your communications. Many Worcester Estate Agents seem to think they can control the market.
If the actually started to work with the market, rather than against it, by encouraging significant ongoing price reductions they would actually generate a lot more business for themselves and give themselves a fighting chance of surviving this recession. Business suicide, however, seems to be their preferred choice at the moment.
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#5 TeddyBear

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Posted 14 March 2009 - 02:19 PM

looks like you'd be living in a kitchen, with cooking smells pervading the whole place. These large open plan areas can be expensive to heat too.
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Commenting on the event, the Rt Hon Gordon Brown, MP, Chancellor of the Exchequer, said: “I would like to pay tribute to the contribution you and your company make to the prosperity of Britain. During its one hundred and fifty year history, Lehman Brothers has always been an innovator, financing new ideas and inventions before many others even began to realise their potential. And it is part of the greatness not just of Lehman Brothers but of the City of London, that as the world economy has opened up, you have succeeded not by sheltering your share of a small protected national market but always by striving for a greater and greater share of the growing global market.”

#6 jonb

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Posted 14 March 2009 - 03:33 PM

£80000? More or less?

Thinking about something like this, pref with 2 beds, this seems way over priced to me. :unsure:


£60k if it was in a more central location. For this place, about £40k.

The furniture looks nice in the photos, but it is totally impractical for actually living in the place, and you don't add anything to the value of the property for it. All you have is a very small terraced house in a housing estate somewhere in Worcester.

The other thing is, don't be fooled by the wide angled lense they used for the photos, look at the measurements, the place is tiny.

#7 gteal2008

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Posted 14 March 2009 - 05:24 PM

Yep, Estate Agents in Worcester seem to be particularly deluded and clueless - despite Land Registry data such as (for detached houses):

DETACHED HOUSES - SORT BY:
NAME AV PRICE (£) QUARTER ANNUAL SALES
Malvern Hills £327,710 -4.3% -7.7% 74
Wychavon £312,656 -13.8% -15.7% 82
Wyre Forest £277,828 -7.2% -3.5% 57
Redditch £248,013 8.1% -0.3% 37
Worcester £225,311 -13.0% -19.3% 59

Sources:
England and Wales
Land Registry of England and Wales, Crown copyright. The information above is based on figures provided by the Land Registry of England and Wales.
Figures for England and Wales are for the period October to December 2008.

Detached house prices in Worcester, in 2008, fell by -19.3%. They have fallen even further in January and February and are no doubt falling this month as well.

I see that you are dealing with Connells. MT and PC based in Warndon seem set on putting themselves out of business by not facing up to the reality of the market. Even if you gently and politely try to make them aware that you are knowledgeable about the market and the ongoing price falls they seem unable to move off their 'boom time' script of - in Worcester it is different, properties are flying off the shelves, asking prices are being achieved, and prices are about to start booming again.
Daft, just plain daft. I don't know why they don't just go the whole hog and wear a clowns outfit to work.

If you do decide to pursue a property you may find it beneficial to include the vendor in your communications. Many Worcester Estate Agents seem to think they can control the market.
If the actually started to work with the market, rather than against it, by encouraging significant ongoing price reductions they would actually generate a lot more business for themselves and give themselves a fighting chance of surviving this recession. Business suicide, however, seems to be their preferred choice at the moment.


Yes, I tried gently putting to connels that one of their props was way overpriced, he tried to rubbish my argument by saying the apartment was in such an exclusive block (K1 if you know it?), that it could afford to have the higher price tag.
How do you go about including the vendor in the communications? Do i knock on the door and tell them I want to buy their home? Or will the EA provide contact details?

#8 gteal2008

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Posted 14 March 2009 - 05:40 PM

£60k if it was in a more central location. For this place, about £40k.

The furniture looks nice in the photos, but it is totally impractical for actually living in the place, and you don't add anything to the value of the property for it. All you have is a very small terraced house in a housing estate somewhere in Worcester.

The other thing is, don't be fooled by the wide angled lense they used for the photos, look at the measurements, the place is tiny.


just gone back to the brochure, you're right it is tiny! Seems to me downstairs is just like a corridor to the upstairs. Back to the drawing board.

#9 AteMoose

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Posted 03 April 2009 - 12:41 AM

I know somone who lives in that close but Ive never been in there place. It is in quite a good location but what you essentially have is a 1 bedroom flat dressed up as a hous. IMHO it looks like it was orginally a better layout and it has been modified to be open plan/wasting space, according to room sizes the room upstairs is only half the size of the house.

Has the owner taken out one of the rooms upstairs, and created a double height lounge? IMHO it would be better if they had left it as a 2BR house! They have converted a cheap house, into a city centre 1BR flat outside of the city.... NUTS. It isnt a bad size downstairs, BUT open planis crazy, and you have lost 25% of the space by creating a double height lounge

looking at sold prices 80k is the 2002 price, so IMHO thats a good price (but i doubt they would bite yet, especially after all the work they have done. If you buy convert it back to a 2BR house

Edited by moosetea, 03 April 2009 - 12:51 AM.

I have bought a newish (5 years) house in November 2006. I talked the vendor down 30% off peak 2004 price am am paying less than the 2002 price. I feel prices will continue to drop down to the 2001 price but saving for 5 years hopefully means i wont be stung. The price i am paying isn't much above the price the vendor paid for the place when it was new in 2000. However some idiot is trying to flog an identical house on my road for 55k above the price i paid, one month later!?!?! The housing market is frothy, no-one ever knows what the value of a house is, the value is what someone is willing to pay, make sure you pay alot less than the asking price.

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#10 Carabansity

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Posted 19 October 2009 - 05:42 PM

Hi Moosetea

My mate bought one of these when he moved to Worcester back in the early 90's, probably that street or one nearby. They only have a bedroom and a bathroom upstairs with a high ceiling lounge. I never saw the point as an extra room would have cost peanuts to build but that's the way they were.

This one is sold now.
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