Friday, Nov 28, 2008
maybe he is seeing sense now?
dailymail: Seller slashes price of house by £1.2million in just 12 months
A landlord trying to sell a house in an exclusive part of London has been forced to slash the asking price by £1.2 million after it went unsold for 12 months.
The four-storey property in St John’s Wood went on sale at £2.8 million on last December, around the time the market peaked.
It was cut to £2.25 million last month and again to £1.6 million - 42 per cent below the original valuation - on November 19.
Posted by mark @ 01:29 PM (308 views) Add Comment
5 Comments
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1. confused76 said...
... MWAUUU my sides are splitting!
'Originally the landlord went through Foxtons and they did the typical thing of saying they could get the price of Buckingham Palace for it."
...the trouble is that once the price has dropped a single cent people just say "how low can you go?"'
the new price is starting to attract serious interest from investors looking for a bargain"
these buffoons never learn, there is no "investors" here in North West London 'cause no one has ever invested any money in property
none of these plumber-turned-tycoons driving their black Bentleys up and down the Hill had any money to start with
even their fake passports to get into the country had to be bought on credit
then they mewed and faked, faked and mewed and bought the dozen flats, all the same, all Ikea-floored, Ikea-kitchened, Ikea-headed
rented out to the scores of 30-something Lehman credit derivative mules that are a gone forever fixture of this city
these BTL kings paid their bribes to the Foxtons babes to be shown the hottest properties in the area
with Foxtons soon to be under, the Bentleys soon to be sold, the BTL kings soon to be heading home...
auction houses and not the estate agents are the new trading floors
"serious interest from investors looking for a bargain"
sure! wait for me in the agency... need to get some cash for the deposit... be back in five
2. jack c said...
What about this poor lady (LOL) (from readers comments)
I'm moving to Canada in the new year and will stay there for 2 years. I've tried to sell my place but people are offering ridiculous prices, sometimes even 50k to 60K under the asking price. This is ridiculous, buyers think they have the upper hand because the market is in turmoil but not everybody is ready to sell their homes for peanuts. I've already found a tenant for the property and, guess what? the rent will pay my mortgage installments and more. TakeTHAT greedy buyers!!
Marjorie, Kent, UK, 28/11/2008 14:11
3. fjcruiser said...
"A landlord trying to sell a house in an exclusive part of London has been forced to slash the asking price by £1.2 million after it went unsold for 12 months....
It is currently divided into two flats and the ground floor is occupied by estate agents Global Realty".
Exclusive ? divided into 2 flats above a shop ? corner of 2 busy roads ?
Daily Mail usual garbage.
4. confused76 said...
"I'm moving to Canada in the new year and will stay there for 2 years. I've tried to sell my place but people are offering ridiculous prices, sometimes even 50k to 60K under the asking price. This is ridiculous, buyers think they have the upper hand because the market is in turmoil but not everybody is ready to sell their homes for peanuts. I've already found a tenant for the property and, guess what? the rent will pay my mortgage installments and more. TakeTHAT greedy buyers!!
Marjorie, Kent, UK, 28/11/2008 14:11"
AH AHHAHAH HAH HHAH H
Marjorie, listen to me. sell now. or will not get even peanuts when you return from Canada
5. planning4acrash said...
People like Marjorie forget that, in a stable or falling market, they can't MEW to maintain the property or to profit. Rent must adjust to a significant percentage above mortgage, say, 25%, to give profit, and pay for little items like, boilers, new windows, little insignificant purchases like that. With houses falling significantly, rent should really be about 1/3 above mortgage, and, that with falling mortgages bodes bearish for prices,