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#856 danlee74

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Posted 28 March 2012 - 09:45 PM

PUBLIC NOTICE DAY:

p9 Frost & Co - Flat 4, 93 Commercial Road BH2 5RT ... offer 44k last sold Jul-06 @ 95k, loss of 51k or 53.7%!! against the 2006 price - http://www.zoopla.co...arch_source=nav - Wrongmove: http://www.rightmove...y-21934689.html ... serious OUCH!!

P32 Fox and Sons - 61 Richmond Gate, 1 Richmond Hill Drive BH2 6LT ... offer 170k last sold Jan-05 @ 225k, loss of 55k or 24.4%!! against the 2005 price - http://www.zoopla.co..._years=all&pn=2 - Wrongmove: http://www.rightmove...l?premiumA=true ... another OUCH!! This one in the same block makes me giggle on Wrongmove: http://www.rightmove...l?premiumA=true ... went on market Mar-10 at 400k, recently reduced to 272.5k but still no sale (best viewed with Property Bee!). In fact, if you order it by 'Address' you can see the amounts lost on each flat! Great fun!!

p38 Churchfield - 112b Haviland Road BH7 6HW ... offer 62k, no last selling price - http://www.zoopla.co...arch_source=nav - but 112a went for 130k although I guess it may be a different type of property - I note 112a has three beds whereas 112b has two. The funny thing is that it is being bid up from 55 to 57 to 58, now 62 ... there are definitely still mugs out there! Still starting asking price was 75k so a good chunk off that anyway!!

p39 Brown & Kay - Flat 8 Drew Grange, 411 Blandford Road BH15 4JN ... offer 96k last sold Aug-07 @ 128k, loss of 32k or 25.0% - http://www.zoopla.co...ce=house-prices - Wrongmove: http://www.rightmove...l?premiumA=true ... OUCH!!

p39 Brown & Kay - Flat 5, 20a Approach Road BH14 8BH ... offer 148k last sold Dec-03 @ 153k, loss of 5k against the 2003 price!! ... OUCH!! - http://www.zoopla.co...ce=house-prices - Wrongmove: http://www.rightmove...l?premiumA=true ... I like the way that the asking price started at 158k but they dropped it to 146.5k to make the "offer" price higher so that plebs without Property Bee will still think the market is moving up!

Is it me or are there more repo's going on these days?!

#857 jd678

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Posted 29 March 2012 - 08:40 PM

P32 Fox and Sons - 61 Richmond Gate, 1 Richmond Hill Drive BH2 6LT ... offer 170k last sold Jan-05 @ 225k, loss of 55k or 24.4%!! against the 2005 price - http://www.zoopla.co..._years=all&pn=2 - Wrongmove: http://www.rightmove...l?premiumA=true ... another OUCH!! This one in the same block makes me giggle on Wrongmove: http://www.rightmove...l?premiumA=true ... went on market Mar-10 at 400k, recently reduced to 272.5k but still no sale (best viewed with Property Bee!). In fact, if you order it by 'Address' you can see the amounts lost on each flat! Great fun!!


Had a peek at one of those when looking for the current rental. Seemed nicely built, but completely soulless. The odd angles to every room didn't help, and neither did the noise of the wessex way anytime a window was just slightly ajar. Those sea views don't appear till about the 6th or 7th floor or so, anything below that and it's just a nice view of all the office workers in Portman Nationwide. And they get a nice view of you...

Council tax isn't cheap either, being a band or two above other 2 beds in the area. For anyone foolish enough to own one of them doubt the service charge is cheap either.

#858 Mr. Piddle

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Posted 30 March 2012 - 07:06 PM

Had a peek at one of those when looking for the current rental. Seemed nicely built, but completely soulless. The odd angles to every room didn't help, and neither did the noise of the wessex way anytime a window was just slightly ajar. Those sea views don't appear till about the 6th or 7th floor or so, anything below that and it's just a nice view of all the office workers in Portman Nationwide. And they get a nice view of you...

Council tax isn't cheap either, being a band or two above other 2 beds in the area. For anyone foolish enough to own one of them doubt the service charge is cheap either.


I've never understood why they ask so much for flats in that block, they dont seem like anything special, and Its not as if the area is amazing!
Allegedly

#859 davidg

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Posted 31 March 2012 - 08:43 PM

PUBLIC NOTICE DAY:

p9 Frost & Co - Flat 4, 93 Commercial Road BH2 5RT ... offer 44k last sold Jul-06 @ 95k, loss of 51k or 53.7%!! against the 2006 price - http://www.zoopla.co...arch_source=nav - Wrongmove: http://www.rightmove...y-21934689.html ... serious OUCH!!


43K isn't too bad for that place, ok commercial road isn't brilliant but you could probably let it for 400/month, not a bad deal for the BTL brigade. Bathroom is scummy but it has a 125yr lease and the service charge is low.

What I can't get over is the 1.1 million they still want for penthouse flats in Honecombe beach, will they ever sell those places? And now Shelley Park, 650K for a 2 bedder, madness.

#860 danlee74

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Posted 01 April 2012 - 06:22 PM

Noted this in my "saved" list:

http://www.rightmove...y-20318475.html ... I thought I had mentioned it previously but I cannot find reference to it! Anyway, offer 105k last sold Nov-06 @ 145k as "New Build" - http://www.zoopla.co...e=house-prices.

A couple of things about this ... firstly the Zoopla estimate sets the value at 134k (to borrow Nan's catchphrase from the Catherine Tate show, "what a load of old sh*t"!), and secondly this in relation to Schappsy's "New Build" 'initiative' highlights what a terrible idea it is ... say an ill-educated pleb had taken this new build on at 145k with a 95% mortgage then finds out 6 years later it is only worth 105k, loss of 40k!! WHY CAN'T POLITICIANS SEE THINGS LIKE THIS??????????????!!!

Edited by danlee74, 01 April 2012 - 06:23 PM.


#861 Mr. Piddle

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Posted 03 April 2012 - 04:32 PM

43K isn't too bad for that place, ok commercial road isn't brilliant but you could probably let it for 400/month, not a bad deal for the BTL brigade. Bathroom is scummy but it has a 125yr lease and the service charge is low.

What I can't get over is the 1.1 million they still want for penthouse flats in Honecombe beach, will they ever sell those places? And now Shelley Park, 650K for a 2 bedder, madness.


Agree with both of the above.
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#862 smallstakes3

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Posted 03 April 2012 - 07:38 PM

Agree with both of the above.


Wotcha ...

http://www.bournemou...sh_call/?ref=mr


WE'RE TRAPPED'
• Jane Newman has a two-bedroom flat at Admiral’s Walk. She pays just under £4,000 a year in maintenance charges and her buildings’ insurance bill, which was £240 in 2009, is now £746.

She said: “We are trapped in our homes. We can’t sell our property, we can’t move forward with our lives. We had a tenant who wanted to buy our property but couldn’t take on the maintenance charge.

“All the problems are due to the bad management of the block. They have never, ever tried to cut costs. They are now talking about a 25 per cent increase. People can’t keep paying these amounts but we’re stuck because we can’t sell.”

• Rosemary Lovelock has a three-bedroom flat in the block. She said: “I already pay £6,500 a year in service charges and I have been told it’s going up by 25 per cent, which I object to. Even if we had the money how can they justify such high charges?”

• Rosemary Shelton rents a flat in Admiral’s Walk with her daughter. She said: “The maintenance charges are upwards of £4,000 a year and I have just had an insurance charge of £1,000. My daughter wanted to buy the flat but she couldn’t get a mortgage on it because of the high service charges.”

l But resident John Fray defended the board.

He said: “The board is open and transparent in what it does and there are AGMs where votes on all the issues are taken.

“We’ve just had one where there was very good attendance and a unanimous vote of thanks to the board for the work they are doing.

“It’s not a paid position and the amount of stress and strain they had to put up with is not helpful and not right.”

#863 Mr. Piddle

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Posted 04 April 2012 - 09:14 PM

Wotcha ...

http://www.bournemou...sh_call/?ref=mr


WE'RE TRAPPED'


One of these flats was in an auction a few months ago, now i know why! I dont think I could live in a block like this, someone else deciding what you have to fork out is always gonna be a pit-fall,
Allegedly

#864 danlee74

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Posted 08 April 2012 - 08:43 AM

PUBLIC NOTICE DAY (a bit late - sorry!!):

p22 Connells, Flat 13 Bourne Court BH2 6DT - Wrongmopve: http://www.rightmove...l?premiumA=true, offer 95k last sold Sep-04 @ 134k - http://www.zoopla.co...ce=house-prices ... a really decent drop of 39k or a loss of 29.1% against the 2004 price! BIG OUCH!!

p22 Connells, Flat 7 Woodford Lodge BH4 8HJ - Wrongmove: http://www.rightmove...l?premiumA=true, offer 147k last sold Mar-03 @ 148k - http://www.zoopla.co...ce=house-prices ... so only a 1k loss but evidence that prices are retreating further and further back, this time to 2003 levels.

p22 Connells, Flat 4 Belle Vue Court BH14 8TW - Wrongmove: http://www.rightmove...l?premiumA=true, offer 185k last sold Jul-06 @ 202.5k - http://www.zoopla.co...ce=house-prices ... a loss of 17.5k or 8.6% against the 2006 price.

p23 Connells, 14 Jumpers Road BH23 2JT - Wrongmove: http://www.rightmove...l?premiumA=true, offer 250k last sold Sep-04 @ 250k - http://www.zoopla.co...ce=house-prices ... again, prices retreating.

p35 Richard Godsell this has popped up again:

p39 Richard Godsell - Flat 4 Poppy Lodge, BH6 5FG ... offer 112k last sold Dec-05 @ 172.5k, loss of 60.5k or 35.1% - http://www.zoopla.co...ce=house-prices - Wrongmove: http://www.rightmove...y-37032674.html .. originally marketed at 115k.


but this time the offer is 105k ... an RPC (repo price crash!)??! So, now we are talking about a loss of 67.5k or 39.1%. Tasty!

#865 danlee74

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Posted 08 April 2012 - 08:49 AM

Wotcha ...

http://www.bournemou...sh_call/?ref=mr


WE'RE TRAPPED'


Of course, they wouldn't be "trapped" if they had not borrowed right up to their limits and therefore are not able to sell up and move on now at the current market prices. I guess they don't see it like this tho ... typical sheeple behaviour, believing it is not their fault and that they are innocent victims.

#866 danlee74

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Posted 08 April 2012 - 09:26 AM

Update on number of properties in the Bournemouth area (criteria just search Location: Bournemouth, nothing else!):

Date 08/04/12 (14/03/12) (19/02/12) (29/01/12) (20/01/12) (3/10/11) (1/9/11) (31/7/11) (3/7/11) (5/6/11) (13/5/11)

up to 100k 359 (340) (326) (320) (220) (222) (300) (297) (295) (288) (310)
100-150k 675 (683) (641) (657) (594) (648) (751) (769) (782) (761) (778)
150-180k 532 (539) (542) (529) (521) (541) (498) (470) (512) (551) (566)
180-210k 413 (389) (392) (397) (400) (484) (493) (471) (484) (499) (501)
210-260k 545 (507) (535) (549) (541) (640) (649) (611) (638) (694) (696)
260-400k 616 (590) (592) (575) (560) (625) (621) (629) (634) (644) (659)
400k- 406 (415) (436) (432) (420) (440) (431) (429) (437) (434) (422)

TOTALS: 3,546 (3,463) (3,464) (3,459) (3,256) (3,600) (3,743) (3,676) (3,782) (3,871) (3,932)

The 7 day check shows 214 properties being added in the past 7 days but as it is Easter I am not surprised by this low number. Interesting that 83 extra properties were added in the three weeks since 14/03/12 and interesting that this time unlike last time the high increase is in number of properties above 180k ... I had a conversation yesterday with an EA who expects the supply to increase in April and May so I'll keep watching. Come May I can do a year-on-year comparison ... we are aiming at 3,932 by 13/5/11!! I doubt it will get there but here's hoping!

#867 danlee74

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Posted 15 April 2012 - 09:14 PM

This came up on my search this evening: http://www.rightmove...y-29882968.html ... strange as it isn't new and hasn't changed in any noticeable way but it is interesting all the same. Asking price 180k, last sold Jul-08 @ 231k - http://www.zoopla.co...=address&sd=asc (Flat 6, House 7) - been on the market for 11 months too (started at 190k)! Vastly overpriced and in a road of ill repute!!

Edited by danlee74, 15 April 2012 - 09:18 PM.


#868 danlee74

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Posted 16 April 2012 - 05:37 PM

Auction alert!!

http://www.rightmove...y-37520780.html ... Guide Price 60k ... IIRC these were asking price as high as 115k last year (although I accept that the Guide Price is only the bait to get the fishies interested and the final sale price will probably be higher), and:

http://www.rightmove...y-37519925.html ... Guide Price 75k ... other flats in this block are 100k ish (http://www.rightmove...etirement=false).

It is my belief that auction prices reflect real prices and not the current pumped up prices that the sheeple are used to due to the decade or two long lax credit conditions, property porn over the mass media, etc and the general British disease that "house prices only go up" ... hopefully the banks (who must have spent the last 3 years repairing their balance sheets) can start foreclosing in earnest on the greedy slumlords who have been stopping young FTBers buying their own place, setting up home and taking root to start their adult lives.

#869 Still_Waiting

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Posted 17 April 2012 - 05:50 PM

All the houses listed as having huge drops are the kind of crappy place that you wouldnt want to raise a family in.

Are the prices of family homes dropping or still staying put in the suburbs of Poole and Bournemouth?

#870 danlee74

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Posted 17 April 2012 - 06:28 PM

All the houses listed as having huge drops are the kind of crappy place that you wouldnt want to raise a family in.

Are the prices of family homes dropping or still staying put in the suburbs of Poole and Bournemouth?


Agreed Still_Waiting, and welcome to the Bournemouth sub-forum. The properties I list are not necessarily places I would consider. But I think the perceived wisdom of the "House Price Crash" is that it is the bottom of the market that goes first, then the rest of the market has to 'come down' to compensate.

I myself am looking for a 1 / 2 bed flat ... the decent ones are between 100-120k - once they are 80-100k I will consider offers. I read that the market is 22% overpriced in relation to earned incomes and rents achievable (http://www.economist.com/node/21551486) and I think this is about right, although corrections normally overshoot so who know where the bottom will end up (without getting into "real" and "nominal" prices!). One of the better of the 7 I have viewed since starting to look in January was priced at 120k (after being reduced from 125k) ... if I could get that for 100k I would be happy and feel that I had found "value" for my hard earned money.

As for family homes I am not sure as it is not my area of speciality ... I am a single man with no dependents. Perhaps someone who is looking in this market could help? The tools I use are:

http://www.rightmove.co.uk/ but you must use http://www.property-bee.com [EDIT: you'll need to use the Mozilla Firefox browser for this to work: http://www.mozilla.o...-US/firefox/fx/ ]
http://www.propertysnake.co.uk/

and where possible use http://www.houseprices.co.uk/ for previous sales and recent comparables but you need the flat / house details to get proper information. For this you'll probably need to contact the agent and state an interest ... that is up to you!!

Let us know how you get on ... anecdotals are always interesting to read!!

Edited by danlee74, 17 April 2012 - 06:32 PM.





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