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Inky

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  1. Thanks for that - it explains why some of the houses on JF's website didn't actually have For Sale/Sold boards outside when we went to look at them! Guess we'll just have to wait it out, let them play their silly games for a while longer...
  2. Does anyone have any opinions about Jan Forster Estates and RookMatthewsSayer? I have been monitoring bungalows in NE13 - pretty stagnant for the last six months. Suddenly, almosy all of the bungalows on Jan Forster's books are marked SSTC (within a week). RMS had a "new instruction" in the Househunter last Friday, a bungalow for £115k - when I enquired about it yesterday, I was told it was already sold - never having been on their website, or RightMove etc. Is everything really selling, or are they trying to talk up the market? Anyone have any experience of these agents? Thanks.
  3. The Turnbull Building flats are next to Queen's Lane, a notorious spot for gentlemen seeking illicit encounters, this has been going on for decades, well before the area became residential. I only know this because a friend worked nearby and was sick of being propositioned on his way home from work!
  4. No problem! They are nice little houses, but definitely little. I suppose the students aren't there all year round at least! Inky
  5. My friend lived in a pretty much identical house on this street until July this year. It belonged to a relative who died, and she lived there until it was sold. It sold for £54k as a 50% share with a housing association i.e. this summer, an identicial 2 bed house was "worth" £108K - though it did not have the conservatory. It was originally advertised as £57,500 for the 50% share and had to be reduced. The bathrooms are tiny, very awkward to use. The downstairs is literally one room, I see they have put in glass doors to separate the kitchen and living room but the rooms will be very small - could be claustrophobic if more than one person living there! Bear in mind that a lot of properties on this street are shared ownership - not necessarily a bad thing, but the estate agent may not tell you about it! Also, as the student halls of residence are at the end of the street, there is a lot of noise / disruption late at night at certain times of the year. Most of the street is full of elderly people, but they have begun to feel uneasy as the Gemini bungalows are now being rented to young daft people from nearby (families inheriting the bungalows won't sell "for nothing" so they rent them out for approx £350-400 pcm then get in daft young couples having parties etc - there was a big fight after one such party this summer, between the new renters and passing students). On the plus side, the houses are modern and the main bedrooms are a good size. Good luck in whatever you decide!
  6. I work in Durham. Some colleges are in financial trouble as there are so many BTL student properties available that they cannot get enough students into the halls of residence. Halls are no longer the cheap, all-inclusive alternative. Private rentals are significantly cheaper, as landlords are cutting each other's throats to get the tenants, and the quality has improved due to all the BTLers sinking their money into making a property "nice" for "young professionals" - then realising that they can't actually get young professionals and have to reduce the price & let to students instead. Cost of living in a private student rental 10 yrs ago £45 pppw (cost of ex-council house in Durham, about £40 - 55k) - now it's £55 - 65 pppw (cost of similar house - although they're not selling - £100k). Not much of an increase in ten years. Also, the overseas students who used to invariably stay in halls are moving out to private rentals, in some cases, far out of Durham city centre, and getting the bus in from very cheap rentals in old pit villages. So everyone is looking for the best deal, not much chance of making a BTL fortune in Durham, unless you bought ten years ago and sold early last year. The price rises can probably be explained by the very few huge luxury properties which have sold in the last year. But even people buying family homes on new luxury estates are ending up with student HMOs next door! On the plus side, people who actually work here might be able to buy something soon...
  7. I was wondering what the builders were doing with the part-exchanges they are taking just to get their own stock moving. Found the answer today on Pattinson's homepage. I wonder if the offers will really end on June 30th - or is the "June Sale" just the shape of things to come? STOP PRESS!!! BUILDERS PART EXCHANGE SUMMER SALE, PROPERTY BARGAINS We have received instructions from a national house builder to dispose of their part exchange stock. All properties enclosed in this list have been further reduced from already competitive prices to offer sensational value. YOU SIMPLY CAN NOT AFFORD TO MISS OUT These bargain prices are available for the month of June only and the offer EXPIRES ON JUNE 30th 2008 To arrange a viewing call 0845 1550111 If you want one of these properties but you have a property to sell call 0845 1550111 so we can help you so you dont miss out. N.B all properties are to be sold under the terms and conditions of the Pattinson Conditional auction and are subject to a reserve price See http://www.pattinson.co.uk/public/content/buy/junesale.htm
  8. "The Truth About Property" returns to BBC2 on Monday 12th May and Tuesday 13th May (8-9pm both nights) presented by Andrew Verity and Jenny Scott. Descriptions from BBC website: 1st programme: Are you crashproof? How does the turmoil in the housing market affect you? Are you able to weather the mortgage storm? The Truth About Property returns for a new series as house prices fall and the housing market is slowing down. In the first programme presenters Andrew Verity and Jenny Scott travel throughout the UK to find out how households would survive a housing crash. Andy meets the Sawbridge family in Sheffield who are struggling to pay the mortgage and keep a roof over their heads, whilst Jenny meets a property investor who is sure there is money to be made even when times are hard. 2nd programme: A solid investment. The housing boom of the last ten years has seen huge house price rises. More and more people saw their property as an investment for the future. But with prices falling should we still have faith in bricks and mortar? In the second programme of this series Andrew Verity and Jenny Scott travel the UK to find out if property is still a solid investment for the future. Andrew ventures hundreds of miles to find one of the last property bargains in the UK. He also meets Tina Martin who has just bought her first house in Northumberland and wishes she hadn't. Jenny meets Andreas Panayiotou , he has built up a huge property empire but Jenny learns why he isn't buying now. Enjoy!
  9. Grazia magazine (vacuous fashion mag) is running a series on "The Credit Crunch Diet". Basically, if you want to lose weight, don't pay to go to a gym, or buy expensive diet foods. Just go out less or, if you do go out, order starters and spritzers instead of main courses & wine- and make yourself a huge pot of "Credit Crunch soup" every week, using up everyday leftovers like courgettes and pancetta (!) This is a real change from the usual "luxury living" type stories that Grazia has been running for years, this actually encourages people NOT to spend money. Apart from an article years ago about couples having to live together after splitting up (because neither could survive on their own financially), I can't remember anything similar in this mag. (BTW, I don't buy it, I get it free!)
  10. Has anyone seen the new Pattinson's "Best Buys" page? Some very large price drops e.g. reduced from £275k to £225k. http://www.pattinson.co.uk/public/content/buy/bestbuys.htm Also found another funny one, I'm not sure that this is really a "Bargain" for whoever buys it: http://www.pattinson.co.uk/Public/content/...-Sale/83146.htm The agents' desperation is there for all to see, enjoy!
  11. www.thisismoney.co.uk Has anyone seen this on the Daily Mail's finance pages? Go to the This Is Money home page and it's near the top on the right, it opens out into a new window. It calculates what a home would be worth if valuations dropped to previous years' levels e.g. Detached house valued at £250k in 2005 would drop to £92k if prices returned to 1994 levels (62% drop). That's an extreme example, but it's great fun to play around with. And they even call it a "House price CRASH calculator"!!!
  12. I would guess l/m is "left message". I just thought it was funny because it shows what numpties the EAs really are. What's the point of a £60-80k estimate if you're telling the world the owner wants £83k? Also, it's so ridiculous that this kind of price is now considered normal for a wreck in Benwell. That used to buy something quite nice up here (before my time, unfortunately!) I shall keep watching and waiting.
  13. Anyone see this gem on the Pattinsons Auction list? http://www.pattinson.co.uk/Public/content/...-Sale/50170.htm Scroll down to see the (presumably) confidential comments added to the listing by the EA!
  14. BBC Look North are having a story on first time buyers / local people priced out of the property market tonight, 6.30 pm BBC One, in case anyone's interested. Inky.
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