ccc Posted July 17, 2010 Share Posted July 17, 2010 Remember this one ? Link to Evening News story back in 2008: 50k 'offer' Wanted to sell for 599k and offer 50k cashback. Now on for offers around 475k. I am pretty certain it is the same house. Classic case of chasing the market down. If he had stuck it on for 475k in 2008 it probably would have sold. Now I don't think he has much chance. Will be very interested to keep an eye on this one. Queensferry Road House Reality finally biting ? How many others in Edinburgh have been trying to sell for 2-3 years and are finally getting the hint ? I live near the house above and I know at least 2 off the top of my head in the same situation. It is all speeding up isn't it... Quote Link to comment Share on other sites More sharing options...
the-wife's-knickers Posted July 19, 2010 Share Posted July 19, 2010 Remember this one ? Link to Evening News story back in 2008: 50k 'offer' Wanted to sell for 599k and offer 50k cashback. Now on for offers around 475k. I am pretty certain it is the same house. Classic case of chasing the market down. If he had stuck it on for 475k in 2008 it probably would have sold. Now I don't think he has much chance. Will be very interested to keep an eye on this one. Queensferry Road House Reality finally biting ? How many others in Edinburgh have been trying to sell for 2-3 years and are finally getting the hint ? I live near the house above and I know at least 2 off the top of my head in the same situation. It is all speeding up isn't it... Love the comments below that article. The poor deluded ba***rds will have woken up and smelt the coffee by now! Quote Link to comment Share on other sites More sharing options...
fflump Posted July 22, 2010 Share Posted July 22, 2010 Love the comments below that article. The poor deluded ba***rds will have woken up and smelt the coffee by now! Well he probably paid buttons for it years ago so there's many a person on this forum who would like to be that poor b***rd! As for being deluded. He certainly is, but anyone who thinks his actions indicate anything meaningful to the housing market is equally deluded. His house is and never was worth anything like the £600k he asked for it in 2008. Even £475 is pushing it massively IMO. Have you seen where it is? Its about 3 doors down from one of the busiest junctions in Edinburgh (Queensferry RD and Maybury Rd) very close to that massive pub that has been boarded up for ages. The source of the sellers optimism price-wise I suspect is the fact that behind his back garden are the expensive and desirable (for some) houses of the Barnton area. Quote Link to comment Share on other sites More sharing options...
ccc Posted July 22, 2010 Author Share Posted July 22, 2010 Well he probably paid buttons for it years ago so there's many a person on this forum who would like to be that poor b***rd! As for being deluded. He certainly is, but anyone who thinks his actions indicate anything meaningful to the housing market is equally deluded. His house is and never was worth anything like the £600k he asked for it in 2008. Even £475 is pushing it massively IMO. Have you seen where it is? Its about 3 doors down from one of the busiest junctions in Edinburgh (Queensferry RD and Maybury Rd) very close to that massive pub that has been boarded up for ages. The source of the sellers optimism price-wise I suspect is the fact that behind his back garden are the expensive and desirable (for some) houses of the Barnton area. This is exactly the case for thousands of people across Edinburgh. This example is just one of many. Quote Link to comment Share on other sites More sharing options...
fflump Posted July 22, 2010 Share Posted July 22, 2010 This is exactly the case for thousands of people across Edinburgh. This example is just one of many. Believe that if you want to, but this guy would not have got within a country mile of his asking price even in the heady days of 2007. He is therefore a poor barometer of the market. There are several posters on this forum who monitor and report on their target area far better then that (yourself included). Quote Link to comment Share on other sites More sharing options...
ccc Posted July 22, 2010 Author Share Posted July 22, 2010 Believe that if you want to, but this guy would not have got within a country mile of his asking price even in the heady days of 2007. He is therefore a poor barometer of the market. There are several posters on this forum who monitor and report on their target area far better then that (yourself included). Yes I agree he is an extreme example. However the masses sit just beneath this bloke. He is perhaps looking for 20% more than he could reasonabley expect to get for it. Most in Edinburgh it is more like 10-15%. You only have to look at how long houses/flats have been sitting there for to realise this. Most of the place is in simple denial. Just because this bloke took it to extremes doesn't mean he is not relevant or a barometer. If the market was not still massively overpriced then people like this would cease to exist. The fact he THINKS he could get this much tells you more than enough. Quote Link to comment Share on other sites More sharing options...
fflump Posted July 22, 2010 Share Posted July 22, 2010 In my area there is a lot of new stuff shifting quickly and a lot of old overpriced guff just sticking. Overall I'd say that places are taking less time to sell, which seems to be borne out in the ESPCs data. Quote Link to comment Share on other sites More sharing options...
ccc Posted July 22, 2010 Author Share Posted July 22, 2010 In my area there is a lot of new stuff shifting quickly and a lot of old overpriced guff just sticking. Overall I'd say that places are taking less time to sell, which seems to be borne out in the ESPCs data. New stuff priced a bit more realistically I assume ? Not sure if the fact it is old or new matters - the price is what most people care about !! Quote Link to comment Share on other sites More sharing options...
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