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Heavy Price Falls Suddenly In Monmouthshire, Gloucestershire


Mal Volio

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HOLA441
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HOLA442

One near here just went of f the market (as it did last autumn; reappeared in Spring) so i emaile the agenmt to ask if it had been sold or just taken off

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Lots of interest ,so we've taken it off the market

:)

Hard men to ignore.......... but well worth the effort!

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  • 4 months later...
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HOLA443

Hard men to ignore.......... but well worth the effort!

LOADS of new houses came onto the market yesterday, normally there's 0-2 per day in the 400k+ range for Monmouthshire, but there were about 5 or 6 yesterday. Ok maybe that's not LOADS but noticeably more than usual!

Quite a few reductions at the lower end of the market, but the same old houses at the top end which have been there for up to 2 years showing very few reductions.

Anyone been watching/viewing/making offers/talking to agents/sellers or have any updates/opinions on the Monmouthshire market?

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HOLA444

LOADS of new houses came onto the market yesterday, normally there's 0-2 per day in the 400k+ range for Monmouthshire, but there were about 5 or 6 yesterday. Ok maybe that's not LOADS but noticeably more than usual!

Quite a few reductions at the lower end of the market, but the same old houses at the top end which have been there for up to 2 years showing very few reductions.

Anyone been watching/viewing/making offers/talking to agents/sellers or have any updates/opinions on the Monmouthshire market?

Parry's just relisted all their Usk office stuff - seem to have merged with another EA there- so some of it is the old stuff reappearing.

But yes, loads more coming on.

I agree about the tired stuff at the top end. The odd one is selling - if it's priced sensibly; one we quite liked went within a day last week, but it did look like a decently priced place and a decent house.

The rest is just sitting there, and much of it has been there for 2 years or more.

We made 2 offers last year - one in May, one in September - both rejected. Both houses still sitting there unsold and unloved. I just wonder if they'll ever sell now....

Its also noticeable that a fair few places that went SSTC are now back on.

Are we looking at the same houses welsh1 ?

perhaps we could cooperate in making derisory offers on houses the other likes ;)

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HOLA445

Further to this, I've been doing some background research on the 3 houses I'm interested in. All are on for way too much money, all are delusional sellers of the first order (been on the market 1-2 years, no interest apart from us)

In all 3 cases, the sellers have severe financial difficulties and big debts (one has 600k of CCJs against him) and they "simply cannot afford to take less than full asking". If they did, they'd be crystallising their losses and they'd go under. Wat they're looking for is the greater fool to come along and give them a lot of their own money to dig them out of the hole they've got into.

Whilst IRs remain low and repos are not happening, there's no driver for them to sell at anything under full asking price.

No buyer in their right mind (or anyone who looks at bought-price from the LR or HIP) is going to fulfill their fantasy. hence, impasse.

3 out of 3. I wonder if this is not a very widespread situation in Monmouthshire, at least towards the top end.

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  • 2 weeks later...
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HOLA446

Further to this, I've been doing some background research on the 3 houses I'm interested in. All are on for way too much money, all are delusional sellers of the first order (been on the market 1-2 years, no interest apart from us)

In all 3 cases, the sellers have severe financial difficulties and big debts (one has 600k of CCJs against him) and they "simply cannot afford to take less than full asking". If they did, they'd be crystallising their losses and they'd go under. Wat they're looking for is the greater fool to come along and give them a lot of their own money to dig them out of the hole they've got into.

Whilst IRs remain low and repos are not happening, there's no driver for them to sell at anything under full asking price.

No buyer in their right mind (or anyone who looks at bought-price from the LR or HIP) is going to fulfill their fantasy. hence, impasse.

3 out of 3. I wonder if this is not a very widespread situation in Monmouthshire, at least towards the top end.

Woah that is incredible, it must be pretty widespread, and explains a lot! Looking at some of the LR sold prices in the mid-90's it is hard to believe that things can stay like this given the prices these places were selling for only 15 years ago! I guess things will just stay like this until, as you say, IRs and reposessions increase. Not healthy!

I suspect you are looking at higher-priced houses than us, but what a good idea! I wonder why more buyers don't collaborate to find out the minimum a seller would accept. We are not even viewing anything yet as we have no offer on our place (well it is my fiance's house, he is hard to convince about HPC, hence why it wasn't put on the market long ago!!). But I am keeping a beady eye on the Monmouthshire market for when the time comes...

How did you do your background research, was it through asking around? Are the agents getting frustrated with the sellers? Fingers crossed that you find a realistic seller soon!

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HOLA447

How did you do your background research, was it through asking around?

Yes, being part of the local commnity helps

Plus paying for various searches - one house came up on the LR with a second set of charges on it and from the references we were able to track down the CCJs

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  • 1 month later...
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HOLA448
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HOLA449

They must be joking, surely?!?

http://www.rightmove.co.uk/property-for-sale/property-25859572.html

Ok, it has PP for another house, but....really?? Have I missed something?

Frankly, if I had that kind of money to spend on a house I would buy a house in a really lovely part of the World or the UK - that is basically rich Home Counties within commutting distance of well-paid job in London prices.

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HOLA4410

Frankly, if I had that kind of money to spend on a house I would buy a house in a really lovely part of the World or the UK - that is basically rich Home Counties within commutting distance of well-paid job in London prices.

That is in a really lovely part of the world.

There aren't many places I've lived nicer than that. But yeah, insane price even for there

It's just a few miles from here and it did make me smile. The economics don't pan out at all

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  • 4 weeks later...
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HOLA4411

Oooh

Looks like the floodgates just started to creak open. There's been very little new of late and then the last couple of days a shedload of new houses have appeared on Rightmove. Plus, I'm pleased to say, some decent drops on some of the old stalwarts and a fair smattering of SSTC>availables :)

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HOLA4412

Oooh

Looks like the floodgates just started to creak open. There's been very little new of late and then the last couple of days a shedload of new houses have appeared on Rightmove. Plus, I'm pleased to say, some decent drops on some of the old stalwarts and a fair smattering of SSTC>availables :)

Let me know what you are going to buy and I will gazump you.

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HOLA4414

My parents recently completed on a property in Abergavenny with just over an acre and a half of grounds - they have sine spent nearly 200k renovating the place, but it will look amazing when it is finished. They are in the process of buying the land around it as well

The guy who sold it was in financial trouble, apparently there are quite a few who have bought in the peak looking to offload - however properties with land are being snapped up for silly money as there is more chance of development being granted .. may explain some of the silly prices.

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HOLA4415

Oooh

Looks like the floodgates just started to creak open. There's been very little new of late and then the last couple of days a shedload of new houses have appeared on Rightmove. Plus, I'm pleased to say, some decent drops on some of the old stalwarts and a fair smattering of SSTC>availables :)

Definitely! Watching Monmouthshire and reading posters from other parts of the country describe how things are almost like 2007 again is like 2 different planets!

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HOLA4416

My parents recently completed on a property in Abergavenny with just over an acre and a half of grounds - they have sine spent nearly 200k renovating the place, but it will look amazing when it is finished. They are in the process of buying the land around it as well

The guy who sold it was in financial trouble, apparently there are quite a few who have bought in the peak looking to offload - however properties with land are being snapped up for silly money as there is more chance of development being granted .. may explain some of the silly prices.

Nice! :)

I can't see much evidence of houses with land being snapped up for silly money on Rightmove/LR - whereabouts is that happening?

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HOLA4418

LOVE the description of this house - made me LOL several times :D

http://www.rightmove.co.uk/property-for-sale/property-26208340.html

What's the EA been taking :lol:

If I was going to go to so much effort I would have got my spelling correct.

A lot of that description is on dodgy ground. You can't describe things like they have and what happened to room sizes?

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HOLA4419

What's the EA been taking :lol:

If I was going to go to so much effort I would have got my spelling correct.

A lot of that description is on dodgy ground. You can't describe things like they have and what happened to room sizes?

There are more if you fancy a chuckle - my favourite has to be "To the manor barn" !!!

http://www.rightmove.co.uk/property-for-sale/find/Fine/Monmouth.html?locationIdentifier=BRANCH^30186&includeSSTC=true&_includeSSTC=on

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HOLA4420

Heh

That's Haart's in Monmouth. I started a thread about one of their descriptions a few months ago, it made me laugh so much. It might have been the Provence one* :)

That house near Shirenewton is in a lovely location, but it's just a little bit Chav palace.

edit:

*

A TOUCH OF PROVENCE The Weavers were not even intending to move to the area, but when they saw this idyllic 19th century country home, they could not resist it's stunning views and pool ... you could almost imagine you were in Provence

:blink:

Or even, just outside Coleford :lol:

Peter and Suku Weaver relax next to their swimming pool, looking out across the breathtaking, tranquil Wye Valley - and reflect on how they could so easily have been living somewhere else. But an unscheduled stop, followed by a stroke of luck, saw the couple's story take an unexpected twist - and now, as they prepare for the next chapter in their tale, they agree life at Stoneway House has been very happy indeed.

We were moving from Oxford to find some good, clean air and had found a home near Malvern, but it fell through, explained Peter. We were passing through this area on the way back and decided to stop for a cup of coffee - and just happened to see this house in an estate agent's window with a sold subject to contract sign on it. We knew we would love it and so went in to say that if it fell through we were interested. Three days later we had a call to say that had happened. Two and a half weeks later, we were in.

Like I give a ****** :)

Edited by Mal Volio
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HOLA4424

Heh

That's Haart's in Monmouth. I started a thread about one of their descriptions a few months ago, it made me laugh so much. It might have been the Provence one* :)

That house near Shirenewton is in a lovely location, but it's just a little bit Chav palace.

edit:

*

:blink:

Or even, just outside Coleford :lol:

Like I give a ****** :)

Haarts are a complete joke aren't they? I used to get so irritated with their pseudo-poetic ads in The Beacon that wax lyrical about their sales people while neglecting to give you a precise location or number of rooms. Truly dire advertising, but they think they're good :rolleyes: I now make a point of ignoring their pages to avoid the irritation.

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HOLA4425

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