What Planet Are Estate Agents On ?

[TheCountOfNowhere]

What planet are estate agents on ?

Found this place:

http://www.howkinsandharrison.co.uk/Proper...tre/192047.aspx

Up for sale about £375K

Think it's just been put on rightmove as:

http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse

Up for sale at £350K.

The house next door sold right at the peak:

"23 Aug 2007 2 Billing Road, Northampton, Northamptonshire NN1 5AN Semi-Detached Freehold £352,00"

Now they are trying to sell the one next door for more !!!! It looks smaller too and Number 2 is the end terrace.

According to Zoopla:

Number 2 billing Road:

2 Billing Road, Northampton NN1 5AN

Semi-detached, Freehold, 4 Beds, 1 Baths, 3 Receps - Edit

Last sale: £352,000 Sale date: 23rd Aug 2007

Zoopla! Estimate What is the Zoopla! Estimate? £285,625

But get this.....

3 Billing Road, Northampton NN1 5AN

Terraced, Freehold, -- Beds, -- Baths, -- Receps - Edit

Last sale: £55,000 Sale date: 27th Mar 1997

Zoopla! Estimate What is the Zoopla! Estimate? £145,653

I think somewhere in the middle of 145 to 285 is the true price laugh.gif

What planet are these estate agents on. Is it a cartell, trying to keep prices high ?

There's also this one a few doors down for sale for £310K, looks almost well priced in comparrison:

http://www.rightmove.co.uk/property-for-sa...auction%3Dfalse

Much bigger, Garden and a garage too.

And with the same estate agent:

On their own web site...SSTC, has been for many months, since Novemeber I believe !!!

http://www.howkinsandharrison.co.uk/Proper...ton/183597.aspx

But on rightmove still up for sale:

http://www.rightmove.co.uk/property-for-sa...00%26index%3D10

They've even gone to the trouble of kind of making it look different !!!

Maybe they are just incompetent or too busy to update their web site ?

BUYERS BEWARE !!!!

Do your research well and avoid be conned.

[Caveat Mortgagor]

Last week 2 houses near me came on with same agent. New builds, both initially bought spring 2007!!

One was bought 2007 for 160k (although the 5% gifted developers deposit means they would have paid £152)

The second was bought for £187k. (minus 5% = 178ish)

They are on for 170k and 195k respectively.

Best of all, the cheaper one has a lovely view from the front........................ of a factory..... That runs a night shift!!!!

[TheCountOfNowhere]

Last week 2 houses near me came on with same agent. New builds, both initially bought spring 2007!!

One was bought 2007 for 160k (although the 5% gifted developers deposit means they would have paid £152)

The second was bought for £187k. (minus 5% = 178ish)

They are on for 170k and 195k respectively.

Best of all, the cheaper one has a lovely view from the front........................ of a factory..... That runs a night shift!!!!

It defies belief !!! These people have to get real.

I look forward to many estate agent closues over the coming months.

[thecrashingisles]

Most people I've spoken to who live in that particular part of town are desperate to get away.

[TheCountOfNowhere]

Most people I've spoken to who live in that particular part of town are desperate to get away.

Me too.

Northampton center has turned into a hell hole. It's full of druggies, theives, prossers and poles.

So £350K for the privellege of living there seems a bit much.

[Lone_Twin]

In the street next to mine (in surrey) there's a three bed terrace up for £175k, which I think is not bad value for the area (if it wasnt so close to the inlaws I might think about an cheeky offer) It needs a bit of updating but is 100% move-inable. (I think its a repo)

Been on the market for months without even a period of SSTC which seems to be the fashion round here before coming back onto the market again.

So imagine my surprise when I got an email from a different set of agents advertising an identical house (slightly newer kitchen) on the ajoining street for £250k. What are these friggin idiots smoking?

[Executive Sadman]

BUYERS BEWARE !!!!

Do your research well and avoid be conned.

Well, they can ask but they may not get. Although there often seems a few morons who dont do the above. Most people unfortunately just seem to assume what the estate agent asks is the going rate, and usually believe all the 'ive got other offers' tales. Add to that the fact most people are too lazy to spend 3 mins researching where prices have been and where theyre going and its easy to see why this crash is taking so long.

[wildrover]

In the street next to mine (in surrey) there's a three bed terrace up for £175k, which I think is not bad value for the area (if it wasnt so close to the inlaws I might think about an cheeky offer) It needs a bit of updating but is 100% move-inable. (I think its a repo)

Been on the market for months without even a period of SSTC which seems to be the fashion round here before coming back onto the market again.

So imagine my surprise when I got an email from a different set of agents advertising an identical house (slightly newer kitchen) on the ajoining street for £250k. What are these friggin idiots smoking?

where abouts in surrey ......? any links ..

[Lone_Twin]

where abouts in surrey ......? any links ..

Redhill.

I have to correct a mistake.

Property1 asking: £175

Property2 asking: £210-230

Not as big a differance as I remembered but still a lot of money.

[lulu]

What planet are these estate agents on. Is it a cartell, trying to keep prices high ?

You seem to be under some kind of delusion that house prices can fall. As we all should know by now, house prices can only ever rise and one should get on the ladder before one misses the boat.

What has happened in the last 12 months was simply a minor blip, prices have not fallen, the green shoots of recovery are visible to anyone whos glasses are rose tinted enough.

After all the sellers have very possibly remortgaged and withdrawn some equity for that shiny new car on their drive, it is up to us all to buy up as much property as we can to bail these people out and therefore provide a much needed boost to the British economy.

Repeat after me - "rising house prices is good, falling house prices (if should a thing is ever possible) is bad"

[Orbital]

Are they new builds? Well that's the problem. You don't need to be a genius to know that houses cost x money to build and developers need y money to make a profit.

Unfortunately developers are indeed finding it hard to cover costs which means one thing for our housing stock...

But new builds are almost their own market. Some people will only look at buying new, it doesn't make sense to me - but it is true. I was looking around about 3 months ago and saw the smallest 5 bed new build you ever saw asking >500k (Sussex/Surrey border). I saw a Victorian character property that was bigger, better location and 20% less. Crazy I know but that's the way it is.

You mentioned Redhill? A good friend of mine bought a 3 bed semi a short walk fron the station, must have been in 2006. It was <200k! I live a bit nearer Croydon and you can buy flats for 350k. Again my semi was around 200k!

But, for the record, EAs are not interested in ramping up prices - they would rather have high volumes of sales as they get a smaller commission but they get it much more often. Even the numpties off the Apprentice get that business rule! Actually, they don't.

[thecrashingisles]

Are they new builds? Well that's the problem.

No they're not new builds.

[TheCountOfNowhere]

You seem to be under some kind of delusion that house prices can fall. As we all should know by now, house prices can only ever rise and one should get on the ladder before one misses the boat.

What has happened in the last 12 months was simply a minor blip, prices have not fallen, the green shoots of recovery are visible to anyone whos glasses are rose tinted enough.

After all the sellers have very possibly remortgaged and withdrawn some equity for that shiny new car on their drive, it is up to us all to buy up as much property as we can to bail these people out and therefore provide a much needed boost to the British economy.

Repeat after me - "rising house prices is good, falling house prices (if should a thing is ever possible) is bad"

Oh yeah, i forgot. The previous 18months of banking collapses, job losses and government bailouts was just a blip. Thank goodness all our futures and savings are being put at risk to help keep a housing bubble inflated and some one eye'd scottish nutter in the driving seat.

Well done gordon for saving house prices so we can all pay a fortune to live in a s**t tiny shoe box house.

Edited July 3, 2009 by TheCountOfNowhere

[Si1]

Unfortunately developers are indeed finding it hard to cover costs which means one thing for our housing stock...

yes - land prices will fall

easy. innit.

[darwin]

What planet are estate agents on ?

This one, unfortunately.

[TheCountOfNowhere]

This one, unfortunately.

Only in body...not in spirit

[Lone_Twin]

Are they new builds? Well that's the problem. You don't need to be a genius to know that houses cost x money to build and developers need y money to make a profit.

Unfortunately developers are indeed finding it hard to cover costs which means one thing for our housing stock...

But new builds are almost their own market. Some people will only look at buying new, it doesn't make sense to me - but it is true. I was looking around about 3 months ago and saw the smallest 5 bed new build you ever saw asking >500k (Sussex/Surrey border). I saw a Victorian character property that was bigger, better location and 20% less. Crazy I know but that's the way it is.

You mentioned Redhill? A good friend of mine bought a 3 bed semi a short walk fron the station, must have been in 2006. It was <200k! I live a bit nearer Croydon and you can buy flats for 350k. Again my semi was around 200k!

But, for the record, EAs are not interested in ramping up prices - they would rather have high volumes of sales as they get a smaller commission but they get it much more often. Even the numpties off the Apprentice get that business rule! Actually, they don't.

I've mentioned this before but its relevant so I'll pearoast.

Went to look at some new builds near redhill station. Nasty, close together, no garden, quite a lot of "affordable" housing mixed in (already filled) no parking spaces, clockwork orange-esque feel about the place. Still thought we should check it out. Cheapest 2 bed terrace - £330!. Nasty boxy little thing.

.

1/3 of a mile from the station:http://www.rightmove.co.uk/property-for-sale/property-22481770.html?locationIdentifier=STATION%5E7637&sortByPriceDescending=true&maxPrice=350000&radius=0.5&includeSSTC=true&_includeSSTC=on&pageNumber=2&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DSTATION%255E7637%26sortByPriceDescending%3Dtrue%26maxPrice%3D350000%26radius%3D0.5%26includeSSTC%3Dtrue%26_includeSSTC%3Don%26index%3D10

.

Now whether that house is yuor cup of tea (and you can search for plenty of others) or not its twice the bedrooms for the same money.

[blankster]

If I set up a stall selling plastic dustbins for £3.50 each at a local market, they'll probably sell quiet well. The fact that I might have purchased them for £2.50 each from an agricultural merchants' in another town would be lost on most punters.

Same goes for the housing market.