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Frank Hovis

Silly (non) Seller In The Telegraph

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Still, she's making a few quid by writing about the fact that nobody wants to pay her overprice for her dark basement slavebox. Starts well then drifts before coming back to reality at the end. Comments are good.

Word on the street: London house prices are rising

But offers on the flat we are selling are getting lower...

By Anna Tyzack

Published: 11:24AM BST 17 Jul 2009

Comments 7 | Comment on this article

Anna Tyzack

I need to target different buyers

At what point should I face up to the fact that the low offers I'm receiving on my flat are an indication of its true value? We received an even lower offer this week, despite telling the estate agent that we weren't considering the previous one. According to David Adams of estate agents Chesterton Humberts, it's time to give in to low offers when a property has been exposed to all suitable buyers. Maybe I'm grasping at straws, but I'm not convinced our flat has reached its target market.

My agents have been mainly showing around foreigners and young professionals. The offer we had this week was from an investor; our highest offer is from a couple working in the City. But according to some research I've been doing recently, it is country folk in need of a pied à terre in town that most suit our flat's lower-ground environment.

Why? They hate the thought of being overlooked, yet would go crazy if they couldn't throw open the door and have a cigarette (or simply stand) outside. They don't care about the darkness because they are only there for a few nights each week; the location is more important, and the vault where they can store a bicycle. An average country bumpkin doesn't know he or she wants a basement flat until they see one – but delight in the fact that they are at least 15 per cent cheaper than the equivalent sized property higher up the block.

Every building has a pecking order. It will be an Italian, or an investor who buys on the first floor – these flats command the highest rental income per square foot, and have the tallest ceilings and largest windows. The top of the building will sell to an aspiring young professional, who doesn't mind the walk up, and wouldn't be seen dead in the basement, wrongly believing it to be the servants' quarters.

According to Adams, sellers aren't canny enough when it comes to selecting an estate agent. "It's important to choose the specialist in your field," he says. "You need to check out potential selling agent's windows to make sure they sell your type of property."

He believes that while prices in the provinces are still falling, the market in central London hit the bottom in May. Prices are now rising due to a massive supply shortage, which Adams puts down to the high proportion of foreign buyers who don't have anything to sell, and low interest rates preventing too many forced sales.

If this is the case, I should be trying harder to sell our flat for a figure close to the asking price. Perhaps it's time to ditch our agents and seek out London's most successful peddler of basement flats.

I fear though, our target market is falling by the wayside. Most sensible country folk can do without a pied à terre in a recession.

http://www.telegraph.co.uk/property/proper...are-rising.html

Greed and denial, what a combination. Either sell it or don't.

Jules

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At what point should I face up to the fact that the low offers I'm receiving on my flat are an indication of its true value?

3 months ago love...

We received an even lower offer this week, despite telling the estate agent that we weren't considering the previous one.

Er, yes, but there's the small matter of the law and the agent having to pass on all offers to you, unless you specifically state otherwise in writing.

Doh.... don't know a lot do we love

I'm not convinced our flat has reached its target market.

Also known as: denial

My agents have been mainly showing around foreigners and young professionals. The offer we had this week was from an investor; our highest offer is from a couple working in the City. But according to some research I've been doing recently, it is country folk in need of a pied à terre in town that most suit our flat's lower-ground environment.

Country folk ...??? Have you been reading too much 1800s fiction? Who are these country folk... idiot.

An average country bumpkin ...

Knows that your flat is nasty.

... a massive supply shortage... high proportion of foreign buyers

These are the same "unsuitable" foreign viewers your flat has attracted so far then ... so, remind us again ... these potential buyers are the only buyers and not interested in your flat... but if you can only find a peasant from the country it'd achieve the high price you imagine it's worth.

Brilliant find OP... another question though is: how the hell can such an empty-headed, irritating idiot manage to get a well paid job writing this drivel for national newspapers? So far up her own 4rse she doesn't mind that her flat's dark.

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and she manages to insult 'country dwellers' by calling them bumpkins who would 'really want' her dingy basement flat. :angry:

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and she manages to insult 'country dwellers' by calling them bumpkins who would 'really want' her dingy basement flat. :angry:

All a bit confusing really .....

If her target market is the rich country folk who want a London pad, it is quite likely that they read the Telegraph.

Insulting them publicly and then expecting them to want to queue up to buy her flat is a bit of a perplexing position to take ....

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Us country folk are used to long vistas. We need third floor flats, big rooms, large windows - and rolling hills out there.

We like our flats cheap!

And we know the value of a shilling....

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" At what point should I face up to the fact that the low offers I'm receiving on my flat are an indication of its true value? "

...errrr why dont you just stop wasting everone's time and just get it valued?

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Ah another moron who has seen a few episodes of Relocation, Recloaction and is conviced the average lifestyle choice for the middle classes is a huge country mansion with a nice little victorian flat converion in London as a 'crash pad.' Because who doesn't want to spend £300,000 on a room to sleep in a few nights a week?

Bad news darling, the good times are over.

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and she manages to insult 'country dwellers' by calling them bumpkins who would 'really want' her dingy basement flat. :angry:

Ah!.... the old "Ratner" ploy eh! The best way to get a good indication of market value.

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3 months ago love...

Er, yes, but there's the small matter of the law and the agent having to pass on all offers to you, unless you specifically state otherwise in writing.

Doh.... don't know a lot do we love

Also known as: denial

Country folk ...??? Have you been reading too much 1800s fiction? Who are these country folk... idiot.

Knows that your flat is nasty.

These are the same "unsuitable" foreign viewers your flat has attracted so far then ... so, remind us again ... these potential buyers are the only buyers and not interested in your flat... but if you can only find a peasant from the country it'd achieve the high price you imagine it's worth.

Brilliant find OP... another question though is: how the hell can such an empty-headed, irritating idiot manage to get a well paid job writing this drivel for national newspapers? So far up her own 4rse she doesn't mind that her flat's dark.

Love it!! :lol:

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whatan iritating fatuous Ann-Spackman/Ashworth cow:

London house prices are rising

But offers on the flat we are selling are getting lower... :blink:

17 Jul 2009

count down to 16 September

Some experts believe house prices have hit the bottom in central London, but who knows what's to come in September.

09 Jul 2009

will house prices fall much further?

Don’t get excited by the 'recovery’ in the housing market – it’s likely to be short-lived

02 Jul 2009

bachelor pads are out

Family homes and long leases are in

24 Jun 2009

No green shoots on my street

18 Jun 2009

Property market: no green shoots on my street

My flat is refusing to sell, which means it's time to drop the price -again.

18 Jun 2009

the property market seems brighter

you can almost see the internal rift between observations and rationalisations shifting as the weeks pass...

Anna Tyzack better hope Daddy will bail her out from her 100k negative equity properdie adventure, heh...

Edited by Si1

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How dare they! They've removed my comment stating that if you really want to sell your poxy flat, then you have to price it accordingly.

I think the telegraph comments section is one of the highly-moderated ones where they sometimes remove posts that say more or less the same as another post.

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Anna Tyzack has been wittering on about trying to sell her flat for months.

Would be interested to know how much she gets paid for it. (The wittering, not the flat.)

However, given that this is the uber-ramping Telegraph Property Section, her first paragraph almost had me choking on the tea Mr B kindly brought me in bed.

Signs of teeny little pennies beginning to drop at last?

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Either you want to sell or you don't. Either drop the price or accept lower offers. There's a limit on how much a poxy basement flat is worth. Accept reality.

GOOOOAAAAALLLLLL

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How dare they! They've removed my comment stating that if you really want to sell your poxy flat, then you have to price it accordingly.

If you use words like 'poxy' about a flat you've presumably never seen, it's not altogether surprising they've removed it.

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Anna Tyzack has been wittering on about trying to sell her flat for months.

Would be interested to know how much she gets paid for it. (The wittering, not the flat.)

However, given that this is the uber-ramping Telegraph Property Section, her first paragraph almost had me choking on the tea Mr B kindly brought me in bed.

Signs of teeny little pennies beginning to drop at last?

I thought I was the only sad person that read the property section of the Telegraph, every week that woman goes on about how hard it is to sell, changes estates, low offers.

Anna if your reading this FOR CHRIST SAKE DROP THE FRIGING PRICE AND THEN WE CAN ALL GET ON WITH OUR LIVES. Maybe she cant think about what to write. What do they call it writers block or something? now thats a good excuse for property not selling "writers block"

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To cut a long story short (for those who haven't been following her weekly drivel) she's revealed enough infomation over the weeks for me to piece together the following details:

Valued at (as low as) �220K by agents prior to marketing

Commenced marketing at �320K (yes that's a 3)

Cut price a couple of times to around �265K (maybe �250)

Received an offer of �220K a few weeks ago, but was minded to reject it.

Now has an even lower offer on the table.

She bought it jointly with her brother who is some 'legal' type and she thought about extending the living space (or was it a bedroom) into the boiler cupboard to make it bigger. Also thought about burrowing under the neighbours place. At that point I realised that she'd completely lost it and would probably end up being sectioned.

I now read her piece each week purely for its comedy value.

She's totally stuffed. The only problem is she hasn't worked it out yet. There's a sitcom in all this somewhere.

Yep that sums it up very well

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To cut a long story short (for those who haven't been following her weekly drivel) she's revealed enough infomation over the weeks for me to piece together the following details:

Valued at (as low as) �220K by agents prior to marketing

Commenced marketing at �320K (yes that's a 3)

Cut price a couple of times to around �265K (maybe �250)

Received an offer of �220K a few weeks ago, but was minded to reject it.

Now has an even lower offer on the table.

She bought it jointly with her brother who is some 'legal' type and she thought about extending the living space (or was it a bedroom) into the boiler cupboard to make it bigger. Also thought about burrowing under the neighbours place. At that point I realised that she'd completely lost it and would probably end up being sectioned.

I now read her piece each week purely for its comedy value.

She's totally stuffed. The only problem is she hasn't worked it out yet. There's a sitcom in all this somewhere.

:lol:

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What did she pay for it? And is she asking for more or less? If she is asking for more then what makes her think she is entitled to more?

Edited by waitingscot

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I am grateful

This is a window into the mind of the average homeowner

It is invaluable as when they capitulate we are nearer the HPC proper.

However 2007 is still "the price" in their minds

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Target Market = Any fokwit prepared to pay asking price in a falling market during a protracted recession.

In truth this bimbette actually thinks there are still stupid folk about in abundance but her marketing has failed to find them. She's probably right, this is Britain after all and economic illiteracy is therefore ascendant, but the reality she fails to accept is that whereas previously banks would lend to the ' fokwit ', now they can't and won't, at least in any appreciable numbers. Her only salvation would be another term of office by the ' fokwit's ' saviour, Golden Clown, but since he and his ilk are dead men walking, she's buggered.

Let them rot.

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So dont sell dear.

rent it out at a loss every month, just like every other vendor who 'can see the true market value' is doing.

Either way, in the long term, youre going to end up having the damn thing lose you 50% of the price you paid for it.

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