[Turnbull2000]

Sister looking to sell up 3 bed terrace due to imminent divorce. Valued at 190K 12 months ago (following breakup), valued today at 220K with view to selling up ASAP. Doesn't mean much unless it's sold of course, but an indication of EA optimism.

[meow]

Turnbull2000, on Apr 6 2008, 05:20 PM, said:

...but an indication of EA optimism.

Which counts for absolutely zilch in my eyes.

[lesqualita]

hi, been watching a house in holystone avenue whitley bay originally priced around £300.000. traditionall 3 bed sem which has been extended to 5 beds. very expensive to heat now with fuel sky high.) it hasdropped to £275.00 with about 6 weeks . spoke to a very patronising ea who said if i had no chain and made a cash offer they might accept £250.00. i still think this house is not worth more than £180-90 to be honest.

[meow]

lesqualita, on Jun 10 2008, 03:32 PM, said:

hi, been watching a house in holystone avenue whitley bay originally priced around £300.000. traditionall 3 bed sem which has been extended to 5 beds. very expensive to heat now with fuel sky high.) it hasdropped to £275.00 with about 6 weeks . spoke to a very patronising ea who said if i had no chain and made a cash offer they might accept £250.00. i still think this house is not worth more than £180-90 to be honest.

And do you have no chain and a big deposit?

Offer what you think and tell them to come back to you "when" they change their mind.

Also you might like to interject some counter patronism such as "and if it comes with a fairy that does all the house work I 'might' offer 200"

This post has been edited by meow: 10 June 2008 - 04:30 PM

[cerbera]

lesqualita, on Jun 10 2008, 03:32 PM, said:

hi, been watching a house in holystone avenue whitley bay originally priced around £300.000. traditionall 3 bed sem which has been extended to 5 beds. very expensive to heat now with fuel sky high.) it hasdropped to £275.00 with about 6 weeks . spoke to a very patronising ea who said if i had no chain and made a cash offer they might accept £250.00. i still think this house is not worth more than £180-90 to be honest.

Rough end of Whitley Bay as well, even in the better end (Queens Rd area) you would have been struggling to get £300k last year. Who is the estate agent - hes wasting their time, even an optimistic estate agent would be starting below the £250 mark

[lesqualita]

cerbera, on Jun 11 2008, 10:05 AM, said:

Rough end of Whitley Bay as well, even in the better end (Queens Rd area) you would have been struggling to get £300k last year. Who is the estate agent - hes wasting their time, even an optimistic estate agent would be starting below the £250 mark

[lesqualita]

this house is up with just about every e. agent if you google holystone avenue whitley bay for sale. the price varies on each site. pattersons has the price at 275 i think. thanks for the advice, i didnt realise this was a rough area. yes i have cash and no chain.

[renterbob]

cerbera, on Jun 11 2008, 10:05 AM, said:

Rough end of Whitley Bay as well, even in the better end (Queens Rd area) you would have been struggling to get £300k last year. Who is the estate agent - hes wasting their time, even an optimistic estate agent would be starting below the £250 mark

Used to work as a chef in my young 'work for sh*te' days in St Annes Care home.....what a pisspoor town......nice laydees though in that Seafront Hotel nightclub on Thursday evenings....but gotta be honest, no match for the South Shields 'beauties'...fook me...what a bunch of pigs (laydee pigs)!!!

[Favre]

Turnbull2000, on Apr 6 2008, 05:20 PM, said:

Sister looking to sell up 3 bed terrace due to imminent divorce. Valued at 190K 12 months ago (following breakup), valued today at 220K with view to selling up ASAP. Doesn't mean much unless it's sold of course, but an indication of EA optimism.

Just recieved the local News Guardian,

Halifax EA franchise has closed dowm, thats the 3rd Estate Agent in Whitley Bay to go down in the last quarter,

interesting times ahead.

[Turnbull2000]

After six months on the market at 205K, she received an offer of 185K... and rejected it. Buyer came back within 1 hour with 190K... she accepted. Pretty good going considering the 185K valuation last summer.


edit in bold

This post has been edited by Turnbull2000: 21 October 2008 - 09:32 AM

[Turnbull2000]

Daddy Bear, on Oct 20 2008, 06:19 PM, said:

Wait for the gazunder.........betchya

Keep us updated


DB

She moved last Monday. Bought a two bed flat in Tynemouth for 138k, which last sold for 140K in 2007.

But, a five bed detached sea front property in Tynemouth originally listed summer 2007 at 500K sold for 360K summer 2008

This post has been edited by Turnbull2000: 16 January 2009 - 10:09 PM

[deeplyblue]

Anyone got comments on the Beaumont Park area? This house just on the market. Price a bit out of our reach at the moment, so I wondered if others with knowledge of the area (and the estate agents) would care to comment - too much? sensible price for early 2009?

db

[Turnbull2000]

My Mam moved to West Monkseaton in February 2007 and paid the £140,000 asking price on a two-bed house. Fast-forward to February 2009, and the property next door is up for £145,000. I doubt they'll get that much, but we'll see.

This post has been edited by Turnbull2000: 01 February 2009 - 10:40 AM

[lordlucan]

my experience looking in this area is that agents are still putting houses on the market at the same prices as they achieved in '07. Also they are sticking unrenovated houses on at the same price as those that have been done up. With sales down by 90% you wonder how long this will go on. Very frustrating when you have taken the 15-20% hit to sell your own property, want to do a deal and are then left twiddling your thumbs because none of the agents will confront the elephant in the room and give their clients an honest valuation.

As someone who works in commercial property where we have seen values tank by 35% the above behavior seems very "last year". Stop trying to talk up the market and do some deals before prices drop any further. Waiting for a better offer is not good sense. Am now starting to thing that I'll have to rent for a few months while people get serious which would be a pain.

The really worrying / comical thing about all this is that rents are falling, so the floor is dropping away beneath people. Why would anyone buy a house in the market for more than a 5% yield on rents?