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  1. Continuing my review of the Hammersmith and West Kensington area for anyone that is interested - I had viewed a 2 bed (actually I lie - one and half bed) in Brook Green area about four weeks ago. It was relatively spacious inside but on a pretty mixed street. The price was £279,000 - which is about what the rest of the two or 1.5 beds in the area are on the market for. Anyway - about two weeks ago the agent tells me it is under offer at £265K and likely to sell. I did nothing. I asked about it again - the idiots can't even tell consistent lies. The agent says it was under first offer of Â
  2. Ditto I've been looking at w14 and could see sales marked up to October but then it goes eerily quiet. Presumably there are November and December figures in the Nethouseprices database. It really is hard to see what sold in the last months of the year.
  3. I'd definitely do it - no doubt about it. It isn't immoral or unethical or illegal. Your offer is only subject to contract - which means that regardless of what you verbally agree to, the only thing that counts is what it says in your written contract. That leaves you and the vendor free to do whatever you want to up to the point that the contract is signed. In the commercial world contractual terms are negotiated continually between agreement in principal and contract signing. That includes the minor terms and conditions as well as price. I've seen M&A specialists turn up on the day
  4. The whole W3 thing is hilarious- it isn't anywhere near Kensington or Chelsea - its in Acton but they don't want to stick that on the website because then the price of £300K starts to look silly. Just another example of there being one law for the EAs and one law for anyone else involved in marketing. Having been to the apartments they can only be described as average. Sizewise they are small and set around several courtyards which are yet to be built so it would really only appeal to BTLs. The whole "buy a lifestyle" thing that has been going on in new-builds for the last decade are all the
  5. When I went in to Marsh and Parsons in Hammersmith and said I wanted a place for under 260K I was told to go to Shepherd's Bush, that there was simply nothing available for that budget. The conundrum is, as everyone has noted on this forum that I can't try to pay the high guide prices the agents are sticking to. The result is this stalemate which has been going on now for months. However Property Stock has been building in this area for some time - there are now over 40 properties in the Brook Green area for under 300K on the Faron's website - there were only 19 at the start of January. Abou
  6. All very interesting. In answer to some of the points: Yes the property is what I'm looking for - Yes I'd be happy there for five years - Yes the place is otherwise in good condition. Now as regards my options - I've simply decided to let the Vendor see the Survey and say to him - how low will you go. The Vendor is in an interesting position - having already been talked down from 275K to 255K in the last two months he now has a potential purchaser who wishes to drop the price further. I will keep you informed.
  7. Was thinking about buying a property in west london. Despite the falling market I thought I had got a good bargain. The price was about 255K for a two bed in a good area. The valuers report has just come in. This says the property is priced at a premium amount - and that the property is only worth 240K on resale. The Bank will still lend the money because the level of the deposit covers the shortfall - but vendor is now pushing for an exchange of contracts. My idea is that I should sit on my hands for a few weeks and make a lower offer - not Gazundering but merely paying the market value of
  8. They introduced stamp duty relief in Ireland last year - they abolished SD on purchase of homes below 300K for FTBs. The effect was to push prices upwards as all FTBs had a couple of grand extra. I hope labour don't introduce this measure. It would be more advantagous for them to stop interest relief for BTL. That would raise revenue and dampen the market for investors.
  9. Just giving everyone a further update on the situation in West London - The fabulous Berkeley Homes West 3 apartment people are still busily trying to offload their overpriced apartments. I've just been invited to a drinks reception at the showhouses apparantly in order to allow me to buy one "before they put the prices up on March 1". Yes - in a novel selling tactic they are going to try to shift the flats that they have not sold they are going to raise the prices. At 275K in Acton, am I the only one who sees the emporer has no clothes? http://www.berkeleyhomes.co.uk/
  10. Thanks to everyone who told me to pull myself together - Prudence is correct about the EA's websites - most of the property has not shifted at all in the last three months. By way of illustration currently on Rightmove you can see an ex-local authority 3 bed for 285K on Rockley Road Shepherd's Bush. The flat hasn't been updated in any way. Abouth two hundred metres away a very large and completely refurbished 2 bed in a converted period res is costing 285K as well. These properties are not comparable from the prospective of a potential purchaser. One requires no work, is in a "nice" stree
  11. Thing is ----- I don't feel that i have another 5-7 years.!! I know that tons of bears will say "be patient" but that doesn't help much as prices increase and you blow more and more money on rent. That is the frustration of being a FTB and I'm seeing it in a number of other contributors. Anyway - more reports from W14 - one house I was interested in was for sale for 270K - I understand that its being under contract for £268K. As this joint is muti-agent it was visible on a number of boards for £270K. I now see that a new agent has joined the field and is marketing it at £280. So despite
  12. Another weekend of pursuing property around west london -- there is a lot of property for sale in the Baron's Court area and Hammersmith. Frankly much of it is very undesirable and still no signs of reduced asking prices. I'm watching closely on the websites since last October in this area and not one of the properties have drifted downwards. Take the example of the flat in w11 in grenfell tower - (see Rightmove) it has been priced at £250K for months despite being slap bang in the middle of a housing estate. You would only buy it to sell on as no-one with 250K to spend is going to choose to
  13. Ah well - if prices are going up in Brook Green at least I can comfort myself that they are dropping in Acton. The Berekeley Homes people in W3 have been ringing me today basically pleading for some offers. When I first went to see them in January they were telling me things were moving fast. The tone of their most recent phonecall suggested that they were very "flexible" on offer prices. Sounds like they are tired of the waiting for the Spring Bounce already. Considering their minimum price is £275K for a two bed they better start getting very flexible indeed.
  14. Have been looking in the Hammersmith / Brook Green area for the last two weeks for a flat - the prices are amazing - 280K buys a flat in an OK area - small double room and tiny single room that really only works as an office. Saw one place that I was interested in - originally priced at 265K. I checked it on net house prices.com to find that it had been bought in December 03 for 211K. Now it has a new kitchen but not one that merits 50K. Found out today that they have an offer of 260K which they will accept. Interestingly they are quite open about the fact tha 10K is coming under the table
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