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Mikhail Liebenstein

Return Of The Living Dead

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This made me laugh, scrolling through Right Move for Surrey, I came across this property. Now it is distinctive and from the decor I know it is the exact same property my wife and I viewed in 2007.

http://www.rightmove...y-26083066.html

Clearly they weren't able to sell it in 2007 and so are trying again. At the time I clearly recall thinking this is over decorated/interior designed and they are asking top-wack. So I told the agent, sorry bu I am not really interested, I'd only even consider thinking of making an offer if they were asking for £700k and then my offer would be below that. The property isn't really to my taste.

BTW the property above is large, about 3700 sqr feetm but is essentially a semi, has little parking and a small very steep rear garden.

Now I have seen a few other back from the dead, and I do wonder how much of this is a side effect of HIPs being done away with. Anecdotally I am seeing a similar build up of higher value properties to what I was seeing in 2007/8, this then dried up as prices fell.

One key point I would make to those planning to buy is that in many ways you have to make your own crash.

As many on here will know, I did buy in late 2009 having STRed in 2007. I was lucky with timing and found a developer holding a part exchanged property they needed to offload in a hurry, so I was able to negotiate hard. My own recommendation if you are buying is be patient, and be prepared to say no and don't feel pressured into buying at a high price to prove yourself. it is a favoured tactic of EAs to try to make you feel like your budget isn't big enough - just remember the majority of EAs probably live in a one or two bed shoe box, so don't feel intimidated by them.

Edited by Mikhail Liebenstein

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This made me laugh, scrolling through Right Move for Surrey, I came across this property.  Now it is  distinctive and from the decor I know it is the exact same property my wife and I viewed in 2007.

http://www.rightmove...y-26083066.html

Clearly they weren't able to sell it in 2007 and so are trying again. At the time I clearly recall thinking this is over decorated/interior designed and they are asking  top-wack. So I told the agent, sorry bu I am not really interested, I'd only even consider thinking of making an offer if they were asking for £700k and then my offer would be below that. The property isn't  really to my taste.

BTW the property above is large, about 3700 sqr feetm but is essentially a semi, has little parking and a small very steep rear garden.

Now I have seen a few other back from the dead, and I do wonder how much of this is a side effect of HIPs being done away with. Anecdotally I am seeing a similar build up of higher value properties to what I was seeing in 2007/8, this then dried up as prices fell.  

One key point I would make to those planning to buy is that in many ways you have to make your own crash.

As many on here will know, I did buy in late 2009 having STRed in 2007.   I was lucky with timing and found a developer holding  a part exchanged property they needed to offload in a hurry, so I was able to negotiate hard. My own recommendation if you are buying is be patient, and be prepared to say no and don't feel pressured into buying at a high price to prove yourself. it is a favoured tactic of EAs to try to make you feel like your budget isn't big enough - just remember the majority of EAs probably live in a one or two bed shoe box, so don't feel intimidated by them. 

I have noticed a few of the "lets try and sell it again now that the sun has come out" properties coming back to the market in recent weeks. One has returned with a nice snowy December picture.

My local EA is far from intimidating and appears to be hanging on by a thread having axed over half of his staff. He has even wheeled his Mrs out to do the viewings- nice wee blonde actually who has probably been a happy housewife during the boom times.

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it's probably people who have removed there houses from the market over the last 3 years rather than lowering prices. It's the pent up supply from these people that are seeing high prices again and having another go.

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Totally agree with EA comments above...

On a related note, this property simultaneously managed to get my goat and make me laugh out loud: 3 bed in SW13.

The same house sold for £845k in April 2008, after its refurbishment. I.e. the present owners have done almost nothing to the property (this was confirmed by EA), and yet they believe by sitting on it for 2 years during a period of market instability (i.e. some downward movement, some up) they are deserving of a 350k profit?

I guess this is the kind of cr4p we can look forward to in the post-HIP rush.

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I guess this is the kind of cr4p we can look forward to in the post-HIP rush.

Spot on. As previously mentioned on here, I expect all the indices that are a reflection of house asking prices (rightmove etc) will show an increase in June. Whether collective dementia will lead to a rise in actual selling prices we'll have to see.

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So I told the agent, sorry bu I am not really interested, I'd only even consider thinking of making an offer if they were asking for £700k and then my offer would be below that. The property isn't  really to my taste.

Why would you put in an offer (of nearly £700k) on something that you don't really like?

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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