So Just How Much Is A View Worth ?

[gus]

I have had the dubious pleasure of working for Brightwells in Hereford in the past. They are, on the whole, arrogant gits who act as if they are doing people a pleasure by selling an overpriced property but I would think their business has suffered greatly in the downturn. They occupy flagship offices opposite Hereford Cathedral which previously had at least 4 negotiators working in there full time - if I go by nowadays there is usually nobody except a typist/receptionist in the office.

I would take a very tough line with them in negotiations - especially with the head honcho!

Thanks for the insight.

I'm not convinced, in this case ,that my offer has actually been transmitted to the vendor . I have received no feed back whatsoever. But I'll be in Hereford in two weeks time and I'll call to their offices in person.

When will these people concede that it's game over ? They continue to play their inane, obscurist, valuation dramas , oblivious to the fact that we can all see through the screens .

I will not be paying 460K for a 3 bed bungalow in central Wales, however pretty the gardens. Not in this lifetime anyway.

[ginnie]

Thanks for the insight.

I'm not convinced, in this case ,that my offer has actually been transmitted to the vendor . I have received no feed back whatsoever. But I'll be in Hereford in two weeks time and I'll call to their offices in person.

When will these people concede that it's game over ? They continue to play their inane, obscurist, valuation dramas , oblivious to the fact that we can all see through the screens .

I will not be paying 460K for a 3 bed bungalow in central Wales, however pretty the gardens. Not in this lifetime anyway.

[ginnie]

I was wrong to imply that Brightwells are estate agents - they are purveyors of fine county estates to the upper classes and the deserving rich.

The head honcho - a Rose by any other name - is a really arrogant git - so good luck!

[gus]

I was wrong to imply that Brightwells are estate agents - they are purveyors of fine county estates to the upper classes and the deserving rich.

The head honcho - a Rose by any other name - is a really arrogant git - so good luck!

Because the current owners were stupid enough to pay 422K five years ago for a standard dormer bungalow with views , does not automaticlly mean that there's now an even bigger fool out there. People are rediscovering the value of money; the overdue process.

I can picture his style: brown brogues, Harris Tweed suit and ring on his pinky finger; a throwback to a byegone stereotype. Fuelling his deluded sense of self importance, an ARICS. but gained via the easy option...... a 2:2 in Land Management at Usk Agric.College !!

The worst possible type of dumb social climber, confuses accent with education and class with money. I'm primed and ready to go . Meet the real thing soon.

[ginnie]

Ah, you've met him already! Exquisite description and so, so true!

Good luck with the encounter!

Please keep us briefed on the outcome.

[gus]

When you're feeling stressed, a little bit down, in need of a lift or a laugh, just tune into "Gower Coast properties", the comedy site for light entertainment.

No idea who the principals are but they're surely accomplished comedians..... just take a look at their valuations. Dawsons were the consummate rampers but GCP now put them to shame.

Run your eye over "Gerdinan", converted barn and a snip at 625K and you'll be pleased to note that it's been reduced from 695K.

What you might also like to know is that the greedy gobshites bought it in Feb 2000 for 237,500(nethouseprices). They only want 450,000 for 10 years of ring-sitting!!

Now I don't want to buy to impress and I don't want the bragging rights of acquisition but since I'm off the property ladder I'm still in the unfortunate habit of converting my loot into hours worked and effort expended . But on any metric you wish to use this level of greed and overvaluation I find sickening.

[sticky fingers]

When you're feeling stressed, a little bit down, in need of a lift or a laugh, just tune into "Gower Coast properties", the comedy site for light entertainment.

No idea who the principals are but they're surely accomplished comedians..... just take a look at their valuations. Dawsons were the consummate rampers but GCP now put them to shame.

Run your eye over "Gerdinan", converted barn and a snip at 625K and you'll be pleased to note that it's been reduced from 695K.

What you might also like to know is that the greedy gobshites bought it in Feb 2000 for 237,500(nethouseprices). They only want 450,000 for 10 years of ring-sitting!!

Now I don't want to buy to impress and I don't want the bragging rights of acquisition but since I'm off the property ladder I'm still in the unfortunate habit of converting my loot into hours worked and effort expended . But on any metric you wish to use this level of greed and overvaluation I find sickening.

Ha ha,

Thats good going !!- but i can go one better- check this, ex-council house bought, 2001 for 175K and then again in 2002 for 2003. Now on in astleys for 850K - now i know he has put an extension on but really............. !!!!! The 'individually designed' bit really gets me- they are just taking the piss.

http://www.findaproperty.com/displayprop.a...amp;pid=3717374

[The Masked Tulip]

Ha ha,

Thats good going !!- but i can go one better- check this, ex-council house bought, 2001 for 175K and then again in 2002 for 2003. Now on in astleys for 850K - now i know he has put an extension on but really............. !!!!! The 'individually designed' bit really gets me- they are just taking the piss.

http://www.findaproperty.com/displayprop.a...amp;pid=3717374

I don't think that is ex-council but it is, IMPO, a 250K house and no where near 850K.

[niceathome]

That's definitely not ex council. I do have a little locals knowledge about this one and the historic purchase prices should not be relied upon not least because the property was n very poor condition and had a botched renovation abandoned. It was empty for some time.

It has been well renovated, whether it's to your taste is another matter - those walnut/oak floors

Location is what gives it the asking price, right on the corner of Beaufort Ave and Higher lane, opposite Vulgar Villas. Most would consider that aprime plot.

Is it overpriced? YES

Is it only worth £250k In your wet dreams Bobby boy!

It will sell easily at around £600k but I doubt the owner will accept this.

[The Masked Tulip]

Location is what gives it the asking price, right on the corner of Beaufort Ave and Higher lane, opposite Vulgar Villas. Most would consider that aprime plot.

Just had a look at it - it is on that corner as you say so constant braking and accelerating of cars which would be a nightmare for myself personally.

As for it only being worth 250K - yep, in a sensible and realistic market. Those "vulgar villas" opposite were on the market in the last bubble for about 700K and IIRC most went for about 300K in the bust. This bubble is bigger, the bust will be bigger - give it time and watch S'sea HPs come tumbling down.

[sticky fingers]

That's definitely not ex council. I do have a little locals knowledge about this one and the historic purchase prices should not be relied upon not least because the property was n very poor condition and had a botched renovation abandoned. It was empty for some time.

It has been well renovated, whether it's to your taste is another matter - those walnut/oak floors

Location is what gives it the asking price, right on the corner of Beaufort Ave and Higher lane, opposite Vulgar Villas. Most would consider that aprime plot.

Is it overpriced? YES

Is it only worth £250k In your wet dreams Bobby boy!

It will sell easily at around £600k but I doubt the owner will accept this.

i know its not a council house...............was just taking the piss as they seem to be!!

NOT a prime plot - its on that horrible corner with all the traffic noise ......and you dont get much over a garden because hes built an extension on it!! Not as nice as the others in Beaufort avenue with nicer plots and sea views..........and they went for 600k at the peak. £250 k- no but 600K ............in your dreams!!!!

[The Masked Tulip]

i know its not a council house...............was just taking the piss as they seem to be!!

NOT a prime plot - its on that horrible corner with all the traffic noise ......and you dont get much over a garden because hes built an extension on it!! Not as nice as the others in Beaufort avenue with nicer plots and sea views..........and they went for 600k at the peak. £250 k- no but 600K ............in your dreams!!!!

Adjusted for inflation since 2001 - about 300K now.

[gus]

Ha ha,

Thats good going !!- but i can go one better- check this, ex-council house bought, 2001 for 175K and then again in 2002 for 2003. Now on in astleys for 850K - now i know he has put an extension on but really............. !!!!! The 'individually designed' bit really gets me- they are just taking the piss.

http://www.findaproperty.com/displayprop.a...amp;pid=3717374

I once had dealings with a family down Tenby-way. Serious loadsamoney from the "leisure" industry , but they were of gypsy blood and not very far removed from their roving days.

Big house in the Spanish hacienda style, His and Hers top o' range Mercs in the drive, the stables and the horses, and of course, the bleached blond, deep fryed, Essex-girl wife completes the real picture.

But best of all, the two young teenage kids were at home. They were at a top-notch English public school and the school had already started to work its transformational magic; the kids accents were now cut-glass. The problem was the growing mismatch ; mum and dad still spoke like Irish tinkers . I dread to think how the kids felt when mumsy turned up at end of term to collect them.

Oh, my point. Only that if that family were to move to Swansea this house would be perfect for them. It's representative of modern Britain: form over substance, crass, tasteless to the point of embarrassment.

[carrera]

That is one tacky poperty ...

Edited May 27, 2009 by carrera

[gus]

Ah, you've met him already! Exquisite description and so, so true!

Good luck with the encounter!

Please keep us briefed on the outcome.

Ginnie, never did get back on this ,essentially because I failed to squeeze a visit to B'wells in ,on my last return to UK. But, I've continued to monitor the place that was on originally for 499k. I offered 350K and they did not even bother come back with a rejection. It dropped to 460k and then , soon afterwards, to 450K . At this stage I called them again and the female in the office was ready to talk (Mr Honcho clearly has difficulty believing a native has funds and has declined to enter the fray!) .

Still no takers and it has now dropped to 415K. I know they paid 422k for it 5 years ago , so the "bounce" for this vendor really isn't very bouncy at all!

What do you think ? Should I call Mr Harris Tweed specifically , reduce my offer to 325K and insist on abnormally deferential treatment during any subsequent negotiations??

[Neverland]

Ha ha,

Thats good going !!- but i can go one better- check this, ex-council house bought, 2001 for 175K and then again in 2002 for 2003. Now on in astleys for 850K - now i know he has put an extension on but really............. !!!!! The 'individually designed' bit really gets me- they are just taking the piss.

http://www.findaproperty.com/displayprop.a...amp;pid=3717374

Now £795k...

...not selling then

[CrashMuppet]

So, Just How Much Is A View Worth ?

Could quite easily be anything from 20% up to 100% of the price of the actual property itself. I'm sure in some cases, though hardly in Gower I would imagine, as nice as it is, that the view could be worth far more than the house itself.

I was recently told by an estate agent that a house I was having valued would be worth "at least double" it it was only 500m closer to the seashore. With unobstructed views. As it is it is it still has a nice view with rolling hills, and mountains/sea in relative distance, but he said unequivocally if you can see the sea shore with no obstruction and the general vista is pleasing, that adds a massive premium, even if the site was a quarter of that of a house further inland....

So I suppose in short the answer is: Quite a bit indeed. After all if you are spending the kind of money mentioned above, on what will likely be a holiday home for many, then would you not want one with the best view?

Edited April 10, 2010 by CrashMuppet

[gus]

So, Just How Much Is A View Worth ?

Could quite easily be anything from 20% up to 100% of the price of the actual property itself. I'm sure in some cases, though hardly in Gower I would imagine, as nice as it is, that the view could be worth far more than the house itself.

I was recently told by an estate agent that a house I was having valued would be worth "at least double" it it was only 500m closer to the seashore. With unobstructed views. As it is it is it still has a nice view with rolling hills, and mountains/sea in relative distance, but he said unequivocally if you can see the sea shore with no obstruction and the general vista is pleasing, that adds a massive premium, even if the site was a quarter of that of a house further inland....

So I suppose in short the answer is: Quite a bit indeed. After all if you are spending the kind of money mentioned above, on what will likely be a holiday home for many, then would you not want one with the best view?

Yes, I'd always thought that if you lived on the coast you might as well buy a place with sea views. My last place had sea views front and back, but what a pain that turned out to be. Constant winds, salt covered windows and an expensive maintenance nightmare. Sea views from a respectable distance is the ideal, but trying to evaluate the premium for such views???

The house mentioned at the start of this thread ,which dropped from 650K to 525K remains unsold and has only very recently been reduced further to 499k. But it's still too much and people who know the Gower better than me would not live on the north Gower coast at any price it seems. This vendor's bubble has been well and truly burst.

I'll be back in the UK for a short time next month and if I can find time I'll try and view this place. Must admit I still like the look of it, but 500K you can forget.... Catherine Z prepare yourself!

[The Masked Tulip]

My parents had a house with stunning views over-looking Swansea Bay but, boy, the maintenance bills were incredible.

The windows, wood or plastic or metal, were simply eroded by the mix of wind, rain, salt and, in Summer, the dry winds. Add to that that the house was effecitvely chilled by constant cold winds battering it in winter and the heating bills were ernormous.

Yes, the view was lovely but I lsot count of the nights when we would listen to the wind howling around the house coming in from Mumbles Head at 80, 90 or more miles per hour.

House prices are still nuts in S'sea - the askin prices are going up by tens of thousands in some cases and then, as you point out, others are now asking less than they paid a few years back.

My gut feeling is that those reducing their askin prices are begining to get in touch with reality whilst, alas, many are still living in laa laa land.

IMPO the election will have to come and go, the enormomity of the public sector cuts will have to hit home and, perhaps along with another economic crisis, will we only then begin to see serious price drops in Swansea. The town needs a big economic wake-up call in terms of the ludicrous asking prices for houses.

[gus]

My parents had a house with stunning views over-looking Swansea Bay but, boy, the maintenance bills were incredible.

The windows, wood or plastic or metal, were simply eroded by the mix of wind, rain, salt and, in Summer, the dry winds. Add to that that the house was effecitvely chilled by constant cold winds battering it in winter and the heating bills were ernormous.

Yes, the view was lovely but I lsot count of the nights when we would listen to the wind howling around the house coming in from Mumbles Head at 80, 90 or more miles per hour.

House prices are still nuts in S'sea - the askin prices are going up by tens of thousands in some cases and then, as you point out, others are now asking less than they paid a few years back.

My gut feeling is that those reducing their askin prices are begining to get in touch with reality whilst, alas, many are still living in laa laa land.

IMPO the election will have to come and go, the enormomity of the public sector cuts will have to hit home and, perhaps along with another economic crisis, will we only then begin to see serious price drops in Swansea. The town needs a big economic wake-up call in terms of the ludicrous asking prices for houses.

I've got my eye on a couple in S'x, another in Aberystwyth and one in A'venny and I'll try and view next month.

But my quandry deepens.... as I've said, in 50's, no close family, no interest in gardening,or decorating etc. Increasingly, I see that long term renting is the sane option for me and not just because of prices (though that's certainly a part)but because I do like being mobile and don't have a burning desire to put down roots.

In reality, I'm starting to develop an aversion to the idea of buying a house which will serve only to gradually become a prison as mental and physical atrophy takes place ! As soon as you pop your clogs the family/ state jumps into your static , nicely packaged and presented estate and strips it to the bone.

After too many uninterrupted years of taking crap and slogging I have this growing feeling that I'd be far better off blowing it all on wild months in Argentina and Brasil and on Amazon cruises.So what if I make it to a ripe old age and I'm penniless ? Well then I can take something out of the system that I've never previously tapped.

[gus]

Yes, I'd always thought that if you lived on the coast you might as well buy a place with sea views. My last place had sea views front and back, but what a pain that turned out to be. Constant winds, salt covered windows and an expensive maintenance nightmare. Sea views from a respectable distance is the ideal, but trying to evaluate the premium for such views???

The house mentioned at the start of this thread ,which dropped from 650K to 525K remains unsold and has only very recently been reduced further to 499k. But it's still too much and people who know the Gower better than me would not live on the north Gower coast at any price it seems. This vendor's bubble has been well and truly burst.

I'll be back in the UK for a short time next month and if I can find time I'll try and view this place. Must admit I still like the look of it, but 500K you can forget.... Catherine Z prepare yourself!

These guys could give Les Dawson a run for his money!

Chat with a bod at GCP yesterday about a place on for 380K in West Cross went like this:

Me: I like this place , good sea views but still too expensive . Will they opt for some serious negotiation?

GCP: I don't think so , there's already a lot of interest in the property and it's only been on for three months. Frankly, it's already realistically priced and basically GCP have a firm policy of realistic pricing.

Me: You must be joking ! You and Simpsons are the prime RAMPERS of property prices in Swansea and you must see prices dropping all around you. What about your place in Crofty (subject of this thread)that's dropped from 650K to 525K (and now 499K)? Was that an example of realistic pricing?

GCP: 650K in Crofty (he laughs) on with us? I don't think so . You'd never get that sort of price for north Gower property and certainly not for Crofty.

Well he's right of course and 650K has dropped to 499K and it remains unsold because it's still way, way overpriced. But the fact of the matter is ,that this company (GCP) which maintains that they have a realistic pricing policy are the very company who first valued Crofty at 650K (the figure that is now laughed at and derided by the same GCP).

The more I talk to EA's the more profoundly they irritate and annoy me, with their incessant bulshite cloaked in attitude and pseudo-professionalism. @#%&ers.

[The Masked Tulip]

These guys could give Les Dawson a run for his money!

Chat with a bod at GCP yesterday about a place on for 380K in West Cross went like this:

Me: I like this place , good sea views but still too expensive . Will they opt for some serious negotiation?

GCP: I don't think so , there's already a lot of interest in the property and it's only been on for three months. Frankly, it's already realistically priced and basically GCP have a firm policy of realistic pricing.

Me: You must be joking ! You and Simpsons are the prime RAMPERS of property prices in Swansea and you must see prices dropping all around you. What about your place in Crofty (subject of this thread)that's dropped from 650K to 525K (and now 499K)? Was that an example of realistic pricing?

GCP: 650K in Crofty (he laughs) on with us? I don't think so . You'd never get that sort of price for north Gower property and certainly not for Crofty.

Well he's right of course and 650K has dropped to 499K and it remains unsold because it's still way, way overpriced. But the fact of the matter is ,that this company (GCP) which maintains that they have a realistic pricing policy are the very company who first valued Crofty at 650K (the figure that is now laughed at and derided by the same GCP).

The more I talk to EA's the more profoundly they irritate and annoy me, with their incessant bulshite cloaked in attitude and pseudo-professionalism. @#%&ers.

Gus, I would take a break for a few months, wait until the election is over, wait for the public sector job cuts to begin, for the economic situation to become reality for Swansea and then take a look back.

Currently, the recession has not hit the vast majority of Swansea people who are employed by the public sector - give it 6 to 12 months and Swansea is will be a different place.

[Swansea Estate Agent]

Gus, I would take a break for a few months, wait until the election is over, wait for the public sector job cuts to begin, for the economic situation to become reality for Swansea and then take a look back.

Currently, the recession has not hit the vast majority of Swansea people who are employed by the public sector - give it 6 to 12 months and Swansea is will be a different place.

Quite a few repo's coming in now, so you should start to find a few bargains.

[The Masked Tulip]

Quite a few repo's coming in now, so you should start to find a few bargains.

That's interesting... To be frank, been shocked by the numbers of properties in SA2/SA3 coming on the market and having SOLD signs up within 4 - 6 weeks. Not sure whether they are genuine sales or not - quite surprised if they are. SA2 appearing to sell quicker than SA3.

Any more info on the repos - jobs losses. too much debt, any info appreciated.

[gus]

Quite a few repo's coming in now, so you should start to find a few bargains.

I'm back in S'x next week for a few days. I'll trawl through Walter Rd and Mumbles and ask to see the repos. Though last time I did this I was disappointed to see that they were primarily at the lowest end of the market.

With Gordon's irresistible support of the housing brigade , how is it now physically possible for anyone to fall foul?