Swansea Property Guide

[niceathome]

I bought the local paper today, often a mistake in itself the way that their reporting has gone, being Tuesday it was property post day and not a single advert from an estate agency!

Maybe it because I've not opened the property post for some months, maybe even a year. I was shocked that not one agent had bothered to run an advert. There was a couple of quarter page adverts for individual properties which both seemed to have been fairly sensibly priced - not great locations but massive houses under £400k.

Anyway it got me thinking, the evening post must be desperately missing the revenue that these adverts used to bring in. The car dealers didn't seem to have as many adverts running as previously. I wonder how far this would have to go before the paper was in difficulty?

[The Masked Tulip]

Post got rid of loads of good journos/feature writers several months back. Big mistake IMPO as it is just full of rubbish now IMPO and not enough interesting features abotu Swansea.

As for the Property Post - interesting. No ads at all? Must be because they are so swamped with buyers that there is now no need to advertise!

Edited January 20, 2009 by The Masked Tulip

[gus]

Post got rid of loads of good journos/feature writers several months back. Big mistake IMPO as it is just full of rubbish now IMPO and not enough interesting features abotu Swansea.

As for the Property Post - interesting. No ads at all? Must be because they are so swamped with buyers that there is now no need to advertise!

Talking about posts , I see our man with the house in Llwynderw has just clipped another 25k from his price. Just another 100k off and he might get some viewings.

[The Masked Tulip]

Talking about posts , I see our man with the house in Llwynderw has just clipped another 25k from his price. Just another 100k off and he might get some viewings.

I was only looking at that early on Monday on RM and it was still £374,995. I could not believe that he had still not dropped it. 25K drop is not enough though.

An EA in Muimbles, think I posted this last year, told me last Summer that it was only worth 250K and even then it need major modernisation. All the hosues around there are seriously over-priced though IMPO. Nice area, within walking distance of the Mumbles but, well, some of them are 650K asking price which is just nuts. Give it 20 years and global warming will have the tide up to their bedrooms

Pretty typical of the area though - still a great deal of denial going on in the area. I searched for about 12 pages on RM with not a single reduction so just gave up.

[The Masked Tulip]

Just checked RM and it is still £374,995 - did you see the price reduction in the EAs?

[gus]

Just checked RM and it is still £374,995 - did you see the price reduction in the EAs?

Now on with JF at 344,950 so has come down from 375K in the last week. Stiil not sane of course.

Broke ranks this week I'm afraid. I'm cash and I'll confess to growing paranoia about banks. Only downside - no interest and the real possibility of my hard-earned just evaporating. (Restricted placement due to non-resident status). So this week made two offers! Both o/s Wales and the first Ea told me he was legally bound to submit my offer but was certain it would offend . He's a decent guy so I told him to forget it.

The second agent said he would submit my offer which is 30% less than peak and amounts to about 200K off asking. Waiting to hear the response. Interestingly the agent sounded not the least surprised (or peeved)by my offer.

Fully accept that prices are now declining (and will continue to do so) but so is my mental and emotional health with the anxiety these banks are perpetuating.

[marty]

Now on with JF at 344,950 so has come down from 375K in the last week. Stiil not sane of course.

Broke ranks this week I'm afraid. I'm cash and I'll confess to growing paranoia about banks. Only downside - no interest and the real possibility of my hard-earned just evaporating. (Restricted placement due to non-resident status). So this week made two offers! Both o/s Wales and the first Ea told me he was legally bound to submit my offer but was certain it would offend . He's a decent guy so I told him to forget it.

The second agent said he would submit my offer which is 30% less than peak and amounts to about 200K off asking. Waiting to hear the response. Interestingly the agent sounded not the least surprised (or peeved)by my offer.

Fully accept that prices are now declining (and will continue to do so) but so is my mental and emotional health with the anxiety these banks are perpetuating.

I’m with you on this one Gus, at this moment in time property is a better bet than interest from the bank.

I have been looking round at the cheaper end of the market, repossessions in Fforestfach, Penplas, Morriston etc but truthfully I really think there is something very wrong with the Swansea property market. The vendors just don’t get it. We are in recession and if they want to sell then they must be realistic.

Just come back from sniffing round Bournemouth, been there 3 times since last December. I like it because there are so many foreign language students there with loads of dosh. Bournemouth is a very wealthy town.

I can buy a 3 bed flat there cheaper than it’s equivalent in Swansea Marina and get a much better rental. It just doesn’t make any sense to buy in Swansea. It’s the strangest property market I’ve ever come across.

People without any money, sitting on property they have borrowed on, backed up by their own home. They can’t let them, they are in negative equity and they still won’t be realistic on price. Don’t they realise that market forces dictate prices and if it really goes tits up they will lose everything.

[The Masked Tulip]

I’m with you on this one Gus, at this moment in time property is a better bet than interest from the bank.

I have been looking round at the cheaper end of the market, repossessions in Fforestfach, Penplas, Morriston etc but truthfully I really think there is something very wrong with the Swansea property market. The vendors just don’t get it. We are in recession and if they want to sell then they must be realistic.

Just come back from sniffing round Bournemouth, been there 3 times since last December. I like it because there are so many foreign language students there with loads of dosh. Bournemouth is a very wealthy town.

I can buy a 3 bed flat there cheaper than it’s equivalent in Swansea Marina and get a much better rental. It just doesn’t make any sense to buy in Swansea. It’s the strangest property market I’ve ever come across.

People without any money, sitting on property they have borrowed on, backed up by their own home. They can’t let them, they are in negative equity and they still won’t be realistic on price. Don’t they realise that market forces dictate prices and if it really goes tits up they will lose everything.

I have just had a look at a 2006 CRV on the forecourt for 14K.

I spoke with the salesman and asked him what the best price he could do and he said he would take their standard £500 for new cars off - not impressed. I have no part-ex so thought "w*nk"!

Didn't even ask me for my name and contact number and even admitted that another H dealer 40 miles up the road was cheaper. Tried to sell me it on their reputation and after-sales service.

But this is Swansea isn't it - must be something in the sea air.

The thing is that there are good salaried jobs in Bournemouth area. You can afford the houses down there because you can earn decent money in the area.

There are now so many houses in Swansea West with two letting agencies signs outside that methinks it in itself tells you what is going on. I saw one in the Uplands on Monday night with three such signs.

Edited January 22, 2009 by The Masked Tulip

[The Masked Tulip]

Now on with JF at 344,950 so has come down from 375K in the last week. Stiil not sane of course.

Broke ranks this week I'm afraid. I'm cash and I'll confess to growing paranoia about banks. Only downside - no interest and the real possibility of my hard-earned just evaporating. (Restricted placement due to non-resident status). So this week made two offers! Both o/s Wales and the first Ea told me he was legally bound to submit my offer but was certain it would offend . He's a decent guy so I told him to forget it.

The second agent said he would submit my offer which is 30% less than peak and amounts to about 200K off asking. Waiting to hear the response. Interestingly the agent sounded not the least surprised (or peeved)by my offer.

Fully accept that prices are now declining (and will continue to do so) but so is my mental and emotional health with the anxiety these banks are perpetuating.

What are you looking at gus - 600K asking price and put in 400Kish offer? Or have I got that wrong.

When I get myself a car I am going to begin viewing properties in the next 2 months or so but, like you, I would only put in 30% less, at least, offers than current asking prices. I have one Mumbles EA who keeps telling their prices are down but they are still stupid asking prices.

I have been out all day, just got in, switched on the news and the news is just dire - house repossessions soared, unemployment soared, car sales plummeting. Swansea = denial.

I have 12 different accounts in non-related banks, save HBOS and Lloyds since they merged as I have a bond in each, and am worried. I am unemployed, or rather self-employed, having been ill for the past few years. I am inclined now to buy a house at a BIG discount and a car and then sign on.

[gus]

I’m with you on this one Gus, at this moment in time property is a better bet than interest from the bank.

I have been looking round at the cheaper end of the market, repossessions in Fforestfach, Penplas, Morriston etc but truthfully I really think there is something very wrong with the Swansea property market. The vendors just don’t get it. We are in recession and if they want to sell then they must be realistic.

Just come back from sniffing round Bournemouth, been there 3 times since last December. I like it because there are so many foreign language students there with loads of dosh. Bournemouth is a very wealthy town.

I can buy a 3 bed flat there cheaper than it’s equivalent in Swansea Marina and get a much better rental. It just doesn’t make any sense to buy in Swansea. It’s the strangest property market I’ve ever come across.

People without any money, sitting on property they have borrowed on, backed up by their own home. They can’t let them, they are in negative equity and they still won’t be realistic on price. Don’t they realise that market forces dictate prices and if it really goes tits up they will lose everything.

Oh they get it alright Marty; your last para. says it all. They either no longer own the place, or they've MEW'd into oblivion, or they bought at peak and realise that they're already in N/E . But so many bought into the "prices never drop" fantasy , being too young to have experienced the property roller-coaster , or else too stupid or greedy to accept the inevitability of the cycle.

There are legions out there in true denial who cannot, or will not ,accept that they have actually lost money on the God that is Property. And as we've discussed many times before , in S'x where wages are dire, property was one of the few ways the striving, climbing wannabes could make money....(I maybe an uneducated, thick-necked, aggressive tosser , obsessed with football, shagging and booze but just you look at my house/car/leather suite ). Expect THESE knobheads to resist the collapse of the illusion to the very last ; they know once the house and BMW are gone they are unlikely to replace them in this lifetime.

Frankly, I really don't want to buy a house now. Indeed as a single man without kids (and this is now unlikely to change due to age) I think I could happily exist without ever owning again. This purchase would be made simply and solely out of fear for the security of my dosh. Brown and his cronies should be jailed and the key thrown away .... as my old Irish boss used to say, "hanging's too good for him , he needs a good kick in the aarse".

[gus]

What are you looking at gus - 600K asking price and put in 400Kish offer? Or have I got that wrong.

When I get myself a car I am going to begin viewing properties in the next 2 months or so but, like you, I would only put in 30% less, at least, offers than current asking prices. I have one Mumbles EA who keeps telling their prices are down but they are still stupid asking prices.

I have been out all day, just got in, switched on the news and the news is just dire - house repossessions soared, unemployment soared, car sales plummeting. Swansea = denial.

I have 12 different accounts in non-related banks, save HBOS and Lloyds since they merged as I have a bond in each, and am worried. I am unemployed, or rather self-employed, having been ill for the past few years. I am inclined now to buy a house at a BIG discount and a car and then sign on.

No, you have it right on pricing.

As I was leaving S'x in 2000 ,I went to see an old "friend" a C. Accountant and FA to settle o/s tax issues.

He knew I was thinking of divorcing my wife when I would be homeless, but with money in the bank. I said I was thinking about buying a house and he advised against it recommending stocks and shares instead and I , like a fool, followed his costly advice.We all know what happened to equities vs. house prices over the next 6 years don't we? Never again will I take advice from a FA ; friends like that I can do without. YOU are the best person to look after your hard-earned.

So now I'm liquid and increasingly worried that forces that I feel I have little or no control over (the banks) will simply vanish taking my $ with them as they go.

With even HSBC beginning to sound vulnerable and this debacle far from over , it's time to take some decisive proaction. What alternative do people like us have now ? We're between the devil and the deep blue.

[marty]

No, you have it right on pricing.

As I was leaving S'x in 2000 ,I went to see an old "friend" a C. Accountant and FA to settle o/s tax issues.

He knew I was thinking of divorcing my wife when I would be homeless, but with money in the bank. I said I was thinking about buying a house and he advised against it recommending stocks and shares instead and I , like a fool, followed his costly advice.We all know what happened to equities vs. house prices over the next 6 years don't we? Never again will I take advice from a FA ; friends like that I can do without. YOU are the best person to look after your hard-earned.

So now I'm liquid and increasingly worried that forces that I feel I have little or no control over (the banks) will simply vanish taking my $ with them as they go.

With even HSBC beginning to sound vulnerable and this debacle far from over , it's time to take some decisive proaction. What alternative do people like us have now ? We're between the devil and the deep blue.

You are spot on about the UK banks and our beloved leader Gordon. How can you possibly trust someone with your dosh when they pick their nose during Prime Ministers Question Time

http://uk.youtube.com/watch?v=6VaP1HB7Vew

View and enjoy!!

[The Masked Tulip]

I am going to try and keep liquid. I think the US will come out of this much sooner than the UK and Wales will probably come out of it last of all in the UK. If push comes to shove I will take a contract in the US for 12 months as and when the US economy starts to recover.

Obama may well be all talk and hype but listening to him on the TV in recent days he actually appears to be talking sense and actually sounds as if he cares - none of which I get from Brown and Co. I think Obama has many 'ordinary' people as friends and hence he is very much in touch with how the US recession is affecting people on the street.

The news today is dire indeed. I was listening to Fivelive from 6AM till 10PM and all economic commentators, including Hutton and Portilio, were saying things were going to get dire indeed. As I type this sat in Swansea now I honestly feel like the only person aware of the coming tidalwave. That car dealer I saw yesterday still reeked of arrogance and denial IMPO - then again, he seemed to be about 23 so I expect he has no conprehension of any slowdown let alone a full-blown recession.

[gus]

I am going to try and keep liquid. I think the US will come out of this much sooner than the UK and Wales will probably come out of it last of all in the UK. If push comes to shove I will take a contract in the US for 12 months as and when the US economy starts to recover.

Obama may well be all talk and hype but listening to him on the TV in recent days he actually appears to be talking sense and actually sounds as if he cares - none of which I get from Brown and Co. I think Obama has many 'ordinary' people as friends and hence he is very much in touch with how the US recession is affecting people on the street.

The news today is dire indeed. I was listening to Fivelive from 6AM till 10PM and all economic commentators, including Hutton and Portilio, were saying things were going to get dire indeed. As I type this sat in Swansea now I honestly feel like the only person aware of the coming tidalwave. That car dealer I saw yesterday still reeked of arrogance and denial IMPO - then again, he seemed to be about 23 so I expect he has no conprehension of any slowdown let alone a full-blown recession.

Update on Offer:

They wanted 600K and I offered 400K . EA came back to me yesterday and said they will take 500K or slightly less! I will not increase my offer , but told the EA to come back to me if they change their mind . Asking price will now be reduced to 500K apparently, so it seems the offer has at least modified the mind-set of the vendor somewhat.

HPC'ers have been saying "unless you're embarrassed it's not low enough". This is a real truism we should all have stamped on our foreheads.

[The Masked Tulip]

Update on Offer:

They wanted 600K and I offered 400K . EA came back to me yesterday and said they will take 500K or slightly less! I will not increase my offer , but told the EA to come back to me if they change their mind . Asking price will now be reduced to 500K apparently, so it seems the offer has at least modified the mind-set of the vendor somewhat.

HPC'ers have been saying "unless you're embarrassed it's not low enough". This is a real truism we should all have stamped on our foreheads.

Good for you but stick to your guns.

[Shunnyonions]

Update on Offer:

They wanted 600K and I offered 400K . EA came back to me yesterday and said they will take 500K or slightly less! I will not increase my offer , but told the EA to come back to me if they change their mind . Asking price will now be reduced to 500K apparently, so it seems the offer has at least modified the mind-set of the vendor somewhat.

HPC'ers have been saying "unless you're embarrassed it's not low enough". This is a real truism we should all have stamped on our foreheads.

Good work mate. I think I'm going to start making "embarrassing" offers and see what happens too.

[gus]

Good work mate. I think I'm going to start making "embarrassing" offers and see what happens too.

Yes, I can confirm that the price has been reduced to 495K. The second agent who said my offer would offend if he submitted , must also have said something to the vendor , since they too , have reduced their price .

Let's face it , only the severely mentally impaired can now be oblivious to the dire straits that GB Ltd. are in. Job losses mounting , pound rumbled, banks verging on terminal collapse.

I'm certainly not suggesting that we should all now start making offers . God forbid , this thing has a long way to go before we are back to a semblance of sanity . But in my circumstances , (restricted by non residency rules in where I can save) , protecting my cash has become a nightmare.

Notwithstanding ,making serious offers of 30% below asking is not unreasonable when we consider the > of 150% in the last 8 years . And clearly, it concentrates the minds of vendors and EA alike ; let's force them to recognise silly money days are over. Start getting embarrassed !

[The Masked Tulip]

Yes, I can confirm that the price has been reduced to 495K. The second agent who said my offer would offend if he submitted , must also have said something to the vendor , since they too , have reduced their price .

Let's face it , only the severely mentally impaired can now be oblivious to the dire straits that GB Ltd. are in. Job losses mounting , pound rumbled, banks verging on terminal collapse.

I'm certainly not suggesting that we should all now start making offers . God forbid , this thing has a long way to go before we are back to a semblance of sanity . But in my circumstances , (restricted by non residency rules in where I can save) , protecting my cash has become a nightmare.

Notwithstanding ,making serious offers of 30% below asking is not unreasonable when we consider the > of 150% in the last 8 years . And clearly, it concentrates the minds of vendors and EA alike ; let's force them to recognise silly money days are over. Start getting embarrassed !

Swansea is different mate - hosue prices will never fall here.

I was looking on home.co.uk at Swansea asking prices over the past 12 months and noticed in some parts of Swansea asking prices have risen substantially. Be very careful of what is going on.

IMPO some vested interests are in the doo doo with property up to their necks and desperately need the silly asking prices to be accepted. Hence why I believe in some cases they are now raising them, knowing they will have to accept less, so that they get the original sum they intended and need.

[gus]

I was watching Twin Town recently and it reminded me just how wild west Swansea really is (if ever I needed reminding).

Ever since the days of Murphy and Co. S'x has been under the control of shamelessly corrupt vested interests, manipulating planning laws, paying back-handers whenever and wherever necessary. In an honest and accountable world , planning could never have been secured for the abominations that smack you in the face in Caswell and Langland .

All lubricated by sleezeball valuers, estate agents, and the banks. But gullible as the crowd are , and as prepared as they still may be to pay outrageous prices , without the funding from the banks it's all totally academic . Your average punter is knackered .It will be some time before your Trostre line worker can lie his way into a six bed McMansion in Killay again, much to the disgust of his onward and upward wifey! Watch it Tulip, when the word finally gets around that you're sitting on a stash AND still single they'll be cruising in your direction.

[The Masked Tulip]

Watch it Tulip, when the word finally gets around that you're sitting on a stash AND still single they'll be cruising in your direction.

Oddly enough, you are not the first mate to warn me of this. Part of the reason why I have gone without a car for 6 months was to see the reaction from certain locals. You know what it is like in Swansea - shows of wealth is what hooks people even if the wealth is actually vast amounts of debt.

[marty]

Oddly enough, you are not the first mate to warn me of this. Part of the reason why I have gone without a car for 6 months was to see the reaction from certain locals. You know what it is like in Swansea - shows of wealth is what hooks people even if the wealth is actually vast amounts of debt.

The Westies must really believe all the rubbish that the Government come up with about the economy. Why should they reduce the price of their lovely home when everything will be back to normal soon?

Gordon Brown: March 2007

"We will not return to the old boom and bust."

Alistair Darling: June 2007

"...acknowledges the outstanding performance of the economy under this Government with the longest unbroken economic expansion on record, in contrast to the boom and bust of the previous Government "

Well, that's all right then we’ll just hang on for a little while longer.

By the way Tulip, Gus is right! Don’t go into EA’s offices and tell them you are a cash buyer, those harridans will be on you in a minute

[The Masked Tulip]

By the way Tulip, Gus is right! Don’t go into EA’s offices and tell them you are a cash buyer, those harridans will be on you in a minute

And there I was hoping to lay, I mean date, a late 30s to early 40s something blonde

Don't worry, I have several friends who, almost daily, text or message me reminding me to avoid blondes in Swansea.

[gus]

And there I was hoping to lay, I mean date, a late 30s to early 40s something blonde

Don't worry, I have several friends who, almost daily, text or message me reminding me to avoid blondes in Swansea.

Tulip you're playing this all wrong. Crass modern Britain deplores subtlety and understatement , you've got to extravagantly flaunt your wealth to attract those prowling floozies in Mumbles.

Rent a Maserati for a couple of weeks , dine in Fairyhill, parade yourself around Wind Street talking indiscreetly about your various portfolios and RoI rates . Lay it on thick and heavy, reel them in , give them the rod , then plead sudden and unexpected impecuniosity due to the fraudulent actions of your various advisers ; at this stage the detritus will quickly melt away to whence they came. Perception is all.

[The Masked Tulip]

Tulip you're playing this all wrong. Crass modern Britain deplores subtlety and understatement , you've got to extravagantly flaunt your wealth to attract those prowling floozies in Mumbles.

Rent a Maserati for a couple of weeks , dine in Fairyhill, parade yourself around Wind Street talking indiscreetly about your various portfolios and RoI rates . Lay it on thick and heavy, reel them in , give them the rod , then plead sudden and unexpected impecuniosity due to the fraudulent actions of your various advisers ; at this stage the detritus will quickly melt away to whence they came. Perception is all.

You have just summed up how to get laid in S'sea. Oh dear.

[marty]

Tulip you're playing this all wrong. Crass modern Britain deplores subtlety and understatement , you've got to extravagantly flaunt your wealth to attract those prowling floozies in Mumbles.

Rent a Maserati for a couple of weeks , dine in Fairyhill, parade yourself around Wind Street talking indiscreetly about your various portfolios and RoI rates . Lay it on thick and heavy, reel them in , give them the rod , then plead sudden and unexpected impecuniosity due to the fraudulent actions of your various advisers ; at this stage the detritus will quickly melt away to whence they came. Perception is all.

Or you could go totally the other way. Here’s my other solution to getting your evil way with the top notch Swansea tottie:

• Get a few tattoo’s, sorry, get a load of tattoo’s all over both arms, up your neck and all over your head, not forgetting a great big panthers head on your forehead.

• Have a load of metal inserted into every possible free protuberance on your face, rings or little bars in nose, ears and eyebrows, anywhere you can think of.

• Next go to Primark’s and get kitted out: shell suit, tee-shirt with big logo on front, massive white trainers and a woollen hat pulled down over your face, don’t forget the Hoody.

• Nip round to the market and get a load of those chains, the bigger the better and string them round your neck. Probably get about 4 for a tenner. Whilst you’re there don’t forget those massive rings, one for each finger.

• You might as well have a dog whilst you’re at it, some big horrible looking thing with a great big heavily studded harness and short lead. You could get a muzzle as well, looks even better.

• The hair, don’t forget the hair, if you are going a little bit bald then shave it all of and give your head a good polish. I think they even sell head polish, if not a bit of pledge should do the trick.

• If you have plenty of hair then let it grow all greasy and lank and if you are a bit grey then a pony tail is obligatory.

• You have to learn the strut, this will not be easy but it has to be done.

• Remember you have to curse, swear and challenge anyone who gives you even a cursory glance.

•

You are now ready to go!!

Sit outside Starbucks all day with one coffee, or lurk round McDonalds bellowing at like looking members of your tribe and before you can say “slapper” you will be surrounded by grubby ladeee’s with hoop earrings and prams. Careful now! The one you fancy might belong to another denizen of this sub cultural underworld that you are now a member of, in which case there will be a lot of glaring, shoving and pushing.

If you are a bit choosy then it’s best to pick one without a pram, they are considered to be virgins if they don’t have a sprog. As I say be careful.

Well chaps, it works for me!!!

On second thoughts stick with Gus’s grasp of the situation, a few drinks, meal, boast about your Merc that’s in the garage, your huge house that’s being built, cruises you’ve been on, visits to London, shopping in New York, talk rubbish, that should do the trick