Muffy Posted August 13, 2009 Share Posted August 13, 2009 I'll leave that for Muffy to answer as I don't live in the area, yet. Hi there, I've had another look and the patch of ground Persimmon are building on is the large allotments area at the back of Ashbrook Road (Ashbrook Road is a little turning off Rainham Road South, up near Fritzlands Depot) The sign says ''3 & 4 bedroom houses and 1,2, & 3 bed apartments coming soon''. I saw a lot of mud and half a dozen workmen there this afternoon. The houses are going to have to be tiny! Pity the poor neighbours who will now be totally overlooked. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted August 19, 2009 Author Share Posted August 19, 2009 I can only assume that this current bull-trap has contributed to the lack of reductions on Property Bee for some time now. Nevertheless, two have appeared today, one modest and one a little more realistic. Does this mark the end of the buying season, I wonder? http://www.rightmove.co.uk/property-for-sa...y-26667461.html? A paltry five grand and hardly indicative of a crash but hey-ho. History date event 19 August 2009 * Price changed: from '£149,995' to '£144,995' 05 August 2009 * Initial entry found. [Found by n/a] http://www.rightmove.co.uk/property-for-sa...y-11286723.html? This one is unusual (and I know the general antipathy towards new-builds on here) as it looks okay from the one external pic available. It's been on since November 2008 and has yet to go even under offer. I can only assume it must be a right state on the inside? Actually, i've just re-read it and it looks like an offer of 135k was made (see history) but presumably the finance fell through? History date event 19 August 2009 * Price changed: from '£139,950' to '£129,950' 26 May 2009 * Brief Description changed: ***************************************STAMP DUTY EXEMPT UNTIL 31st DEC 2009*************************************** PUBLIC NOTICE- PROPERTY ADDRESS: 39 MARINE DRIVE, BARKING, ESSEX, IG11 0GJ We are acting for the mortgagees Located on the above ever poplar Thames View development is this modern style terrace property with accommodation consisting of £135,000 two bedrooms and have received an offer bathroom with W. (contd...) 04 May 2009 * Brief Description changed: ***************************************STAMP DUTY EXEMPT UNTIL 31st DEC 2009*************************************** PUBLIC NOTICE- PROPERTY ADDRESS: 39 MARINE DRIVE, BARKING, ESSEX, IG11 0GJ We are acting for the mortgagees and have received an offer of £135,000 on the above property. (contd...) [Found by n/a] * Price changed: from '£145,000' to '£139,950' [Found by n/a] 20 December 2008 * Price changed: from 'Offers in Region of £151,000' to '£145,000' [Found by n/a] 01 November 2008 * Initial entry found. [Found by n/a] Quote Link to comment Share on other sites More sharing options...
workingholiday Posted August 29, 2009 Share Posted August 29, 2009 Quick update and the newest addition is another repo; seems to be a theme on my watch list. Check out the back garden pic; all that's missing is a lunar module. Still, dropping 10k over the course of a couple of months is a step in the right direction:http://www.rightmove.co.uk/property-for-sa...y-21977188.html 01 July 2009 * Price changed: from '£134,950' to '£129,995' 21 May 2009 * Price changed: from '£139,950' to '£134,950' 21 April 2009 * Initial entry found. [Found by n/a] Now under offer at 125K Quote Link to comment Share on other sites More sharing options...
workingholiday Posted August 29, 2009 Share Posted August 29, 2009 One more for the records, though in the description the EA mentions a Corporate client; is this indicative of a repo anyone?http://www.rightmove.co.uk/property-for-sa...y-25777982.html Went for a walk past of this one; it's actually quite nice looking from the outside; in a nice grouping of terraces. Notice on the door was really faded though. No longer on the market. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted August 30, 2009 Author Share Posted August 30, 2009 Went for a walk past of this one;it's actually quite nice looking from the outside; in a nice grouping of terraces. Notice on the door was really faded though. No longer on the market. Cheers for the input WH, i've noticed a large number on the watch-list going under offer or SSTC. Quote Link to comment Share on other sites More sharing options...
Muffy Posted September 2, 2009 Share Posted September 2, 2009 Not really property related but you might be interested to know that the bg Vauxhall dealership & repairs garage on Rainham Road South went into receivership a couple of days ago with the loss of 50 jobs, quite a big blow to the area. Some numpty will probably buy the land now and build flats. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 6, 2009 Author Share Posted September 6, 2009 Not really property related but you might be interested to know that the bg Vauxhall dealership & repairs garage on Rainham Road South went into receivership a couple of days ago with the loss of 50 jobs, quite a big blow to the area.Some numpty will probably buy the land now and build flats. Cheers Muffy, i'll be expecting 50 repos to appear on Rightmove in that case. That must be pretty big news for the local economy? Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 7, 2009 Author Share Posted September 7, 2009 Interesting, just rang up Bairstow Eves to arrange viewings for these two repos: http://www.rightmove.co.uk/property-for-sa...y-22711390.html (On market since July) http://www.rightmove.co.uk/property-for-sa...y-25619669.html (On market since May) Was informed by the sales-bod that both had received offers and surveys undertaken. A bit of a coincidence? Nevertheless, i'm happy as I can prove to the missus that i'm 'doing something' while staving off the inevitable long enough for the next leg down. Quote Link to comment Share on other sites More sharing options...
Muffy Posted September 8, 2009 Share Posted September 8, 2009 Cheers Muffy, i'll be expecting 50 repos to appear on Rightmove in that case. That must be pretty big news for the local economy? Yes, it's pretty bad - also there is concern about what will happen to the building - if it gets vandalised it won't be a pretty sight. Apparently the franchise is for sale for £80k which doesn't seem a lot for a reasonable sized business, the repairs section was always busy. Quote Link to comment Share on other sites More sharing options...
Muffy Posted September 8, 2009 Share Posted September 8, 2009 Interesting, just rang up Bairstow Eves to arrange viewings for these two repos:http://www.rightmove.co.uk/property-for-sa...y-22711390.html (On market since July) http://www.rightmove.co.uk/property-for-sa...y-25619669.html (On market since May) Was informed by the sales-bod that both had received offers and surveys undertaken. A bit of a coincidence? Nevertheless, i'm happy as I can prove to the missus that i'm 'doing something' while staving off the inevitable long enough for the next leg down. Wow, these are amazingly cheap - 1 bed ex council flats in this area were going for £135k at the height of the bubble. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 9, 2009 Author Share Posted September 9, 2009 Wow, these are amazingly cheap - 1 bed ex council flats in this area were going for £135k at the height of the bubble. I agree, they were close to what I would call reasonable value (despite the property for 110k clearly needing a lot of work). Unfortunately, this means that much of the reasonably priced stock has pretty much gone from my watch-list and little seems to be replacing it. Actually, there is more stock coming on but the lower benchmark now seems to be around the 139k mark which is disconcerting. I guess there's still some way to go. Quote Link to comment Share on other sites More sharing options...
workingholiday Posted September 9, 2009 Share Posted September 9, 2009 Unfortunately, this means that much of the reasonably priced stock has pretty much gone from my watch-list and little seems to be replacing it. Actually, there is more stock coming on but the lower benchmark now seems to be around the 139k mark which is disconcerting.I guess there's still some way to go. Agreed - the 160k range also seems to have disappeared within the last month, The new stuff seems to have moved up 15-20k. Still heaps on, but the window of affordability seems to have slammed closed again. Gutted. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 9, 2009 Author Share Posted September 9, 2009 Agreed - the 160k range also seems to have disappeared within the last month,The new stuff seems to have moved up 15-20k. Still heaps on, but the window of affordability seems to have slammed closed again. Gutted. Interesting that the same phenomenon is occuring 'higher up' the chain. I'm not worried or despondent although it does delay the inevitable - by how long though, that's the question? Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 9, 2009 Author Share Posted September 9, 2009 What the hell is going on here? I've just contacted another EA (Spicer McColl, Dagenham) to make a viewing for this property: http://www.rightmove.co.uk/property-for-sa...y-23227447.html (Listed since 1st September '09) As with the above two, just been informed that a sale has been agreed already for this property. I told the chap that I assumed it was a repo and he confirmed this. Now (and again with regards to the above two props) as I understand it aren't EAs duty-bound to achieve the highest price for repos? I'm aware that offers on repos are recorded on Rightmove giving other potential buyers 'x' amount of days to submit a higher offer. What I don't understand is that neither EA bothered to chase me as a possible higher-bidder (in fact the first EA pretty much told me not to bother as an offer and survey had been carried out). What is happening here; am I reading too much into this? I'm aware that on here other posters have accused EAs of 'sorting out their pals' with mates-rates. Further to this, not one of the three listings on RM have been updated in any way. Bizarre. Quote Link to comment Share on other sites More sharing options...
Muffy Posted September 15, 2009 Share Posted September 15, 2009 On the same line as my last post, you might also be interested to know that The Bull pub on the Bull roundabout (Rainham Road South) has gone bust. It's within 500 yards of the Vauxhall dealer that went bust the other day! More jobs gone (although I won't grieve for the notorious drug-den pub). Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 16, 2009 Author Share Posted September 16, 2009 On the same line as my last post, you might also be interested to know that The Bull pub on the Bull roundabout (Rainham Road South) has gone bust.It's within 500 yards of the Vauxhall dealer that went bust the other day! More jobs gone (although I won't grieve for the notorious drug-den pub). Cheers Muffy, i'd like to read more into this however I imagine they're just another victim of UK's declining pub-trade (I forget the figures; something like 40 per month closing?). Quote Link to comment Share on other sites More sharing options...
Muffy Posted September 16, 2009 Share Posted September 16, 2009 Cheers Muffy, i'd like to read more into this however I imagine they're just another victim of UK's declining pub-trade (I forget the figures; something like 40 per month closing?). Yes I think it's about 5 a day. Loads have shut down in Dagenham and Barking, I remember the Merry Fiddlers (now Morrisons), the Robin Hood (now a derelict site), apparently the Volunteer is gone, the Plough in Barking has been replaced by an NHS centre, The Chequers down the Heathway (now Asda), and the white one on the Heathway that I can't recall the name of, that is going to be a library. I prefer the libraries etc to the pubs to be honest!! Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted September 28, 2009 Author Share Posted September 28, 2009 Absolutely nothing happening at the moment, few new property coming on and very little existing stock shifting. The very boring calm before the storm, I expect. In the meantime I saw this property for rent which made me chuckle: http://www.rightmove.co.uk/property-to-ren...y-18908414.html If I remember rightly this one had been listed for sale since October 2008 at 169k, with no reductions at all. Obviously, the vendor has recently decide to change tack. It's now up for rent at £775pcm. Yay, way to go. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted October 8, 2009 Author Share Posted October 8, 2009 Still nothing happening in terms of falls; worse still, my watch-list has now dwindled to 49 with 26 of those being STC. On the other hand, I may have to rename this thread 'tracking the rises'. Not sure what happened here; perhaps the vendot thought the EA was being too generous: History 06 October 2009 * Price changed: from '£124,995' to 'Offers in Excess of £130,000' 24 September 2009 * Initial entry found. http://www.rightmove.co.uk/property-for-sale/property-23428450.html Classic. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted October 12, 2009 Author Share Posted October 12, 2009 Now i'm getting really despondent. The missus was on my case last night about sitting on my hands so to appease her I told her i'd arrange some viewings today, which seemed to pacify her. I had a list of six properties (all repos) up to 139k, across three different EAs. Just rang every single EA to make viewings and every single property was about to or had exchanged. There were a couple whihc had offers of asking price and I was invited to make a higher bid - I politely declined their offer. Now, six out of six is more than EAs playing silly beggars; worse still it looks like the lower price range is steadily creeping up. It seems like 140k is the new benchmark whereas before the bounce there were a number of listings for between 110 - 130k. I need some affirmation of belief soon. I can't be ars*d pasting the listings although I will if anyone doubts the validity of my claims. Quote Link to comment Share on other sites More sharing options...
workingholiday Posted October 13, 2009 Share Posted October 13, 2009 There seems to have been an increase in the amount of new listings coming on over the last 3 weeks. Asking prices still seem to be up on where they were 3 months ago though. Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted October 13, 2009 Author Share Posted October 13, 2009 There seems to have been an increase in the amount of new listings coming on over the last 3 weeks. Asking prices still seem to be up on where they were 3 months ago though. Interesting, what price range are you looking at? Admittedly i'm aiming for the cheaper end of the market; houses under 140k. As it stands, there are just 14 properties listed as available on RM in this category. Of these, 5 are in the process of exchanging (according to the EAs I spoke with). There's a severe shortage of new stock coming on which is very worrying indeed. I really hope the New Year brings some cheer... Quote Link to comment Share on other sites More sharing options...
workingholiday Posted October 13, 2009 Share Posted October 13, 2009 Interesting, what price range are you looking at? Admittedly i'm aiming for the cheaper end of the market; houses under 140k. As it stands, there are just 14 properties listed as available on RM in this category. Of these, 5 are in the process of exchanging (according to the EAs I spoke with). There's a severe shortage of new stock coming on which is very worrying indeed. I really hope the New Year brings some cheer... Started following end of terrace semis at about 160k around 3 months ago. It's going to be another 6 months before I have another attempt at a mortgage application anyway; hoping things don't jump back out or reach. The deposit is safely tucked away in NZ dollars, so can wait it out. Quote Link to comment Share on other sites More sharing options...
workingholiday Posted October 14, 2009 Share Posted October 14, 2009 I walked past this one about 3 months ago when it was on for 145K - quite liked it. It's now turned up again, been painted and is on for 20K more: http://www.bairstoweves.co.uk/property-details-BEL_RPS-DAG090643 That feels abit much for that one. ie. compared to this 160K place (which went about 6 weeks ago): http://www.bairstoweves.co.uk/content/010_Search_Results/Property_Details/property-sales-BEL_RPS-DAG090300-1250527484 Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted December 19, 2009 Author Share Posted December 19, 2009 I walked past this one about 3 months ago when it was on for 145K - quite liked it. It's now turned up again, been painted and is on for 20K more: http://www.bairstoweves.co.uk/property-details-BEL_RPS-DAG090643 That feels abit much for that one. Bloody hell, that's a tad optimistic. Well, sweet Fanny Adams to report since the last time. Stock is still desperately in short supply though we've actually started viewing a few places (the wife being the main driving force, natch). http://www.rightmove.co.uk/property-for-sale/property-23678932.html Viewed this place a few weeks ago (asking price 149k), the only gaff i've seen in a while that wasn't a repo. In any case, the place was too small so we didn't bother with that one. http://www.rightmove.co.uk/property-for-sale/property-27095504.html This one (asking price 148k) is a probate. They actually accepted an offer of 141k from us but by the time the EA had got back to us, the wife had already seen another place which was a lower asking price and 0.1 miles from Becontree tube, so we pulled out: http://www.rightmove.co.uk/property-for-sale/property-27873878.html That one was a repo and though the missus really wanted it, I felt the EA was mucking us about. From what I can gather there was some other party (naturally) and I was suspicious of a phantom buyer so I pulled out. A public notice hasn't been made yet which only confirms my suspicion. So we're back to square one. On the plus-side the wife has finally relented and agreed to privately rent instead so we'll be viewing rentals in the next few weeks. What swung it for her was that we could get a three-bed terrace for 800 pcm. That's compared to the best deal our IFA could offer with regards to the offer we made of 141k - 5 year fixed mortgage @ 5.99% working out at 816 pcm. (That was via the Coventry Building Society with a 15k deposit). Quote Link to comment Share on other sites More sharing options...
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