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Frank Hovis

Debt Economy Poster Girl Selling Her House

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As Liz is an old "friend" of the site, could the propertybee boys keep their eyes on this one.

An SOS has been issued to estate agents in the West Country. "Leave right now as the world's worst customer is on the loose," says the notice on the website www.estateagenttoday.co.uk "Do not underestimate the gravity of the situation."

http://www.telegraph.co.uk/property/westcountryproperty/7939498/Liz-Joness-Exmoor-home-for-sale.html

And here it is, in its overpriced glory of £1.9m (how can a barn be worth £0.5m ffs):

http://www.struttandparker.com/farms-and-estates-for-sale/dulverton-somerset/farm-and-estate_EXE100158.html

Interesting link to the estate agent website, not been there before. I think we've been "misunderestimating" them.

Thousands more properties have their asking prices cut

Saturday 14 August 2010 0 comments

Gloomy CML cuts lending forecasts for this year

Saturday 14 August 2010 0 comments

http://www.estateagenttoday.co.uk/

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According to James Baker, of estate agency Strutt & Parker, it's a major selling point. 

<SNIP> Is she sad to be selling? "A bit. But it's sort of ridiculous having seven bedrooms and six bathrooms and being completely on your own." As yet, she's unsure where she'll move to: "I'd love to stay on Exmoor, but Dartmoor is quite tempting, or maybe the Brecon Beacons or Snowdonia." An estate agent tells me she's been viewing a £650k property nearby.

Baker expects her farm to fetch at least its asking price. "We've priced it sensibly. I wouldn't be surprised if it sold for even more," he says.

 Now resolutely single, and with a growing menagerie of rescue animals, Jones, 51, has decided to sell her 46-acre farm and move to a smaller house with more land.

So presumably she is trying to recover the £500k allegedly spent on improvements  in the crazy asking price.  Sorry but its in the middle of nowhere and it isn't the land that adds value as proven by the statements above about moving to a smaller property with more land presumably in the region of £650k.

What do you reckon its worth?  I'd say under £1m.

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Although you say it's overpriced in the current market, is it by that much though really going forward?

I mean as long as you can farm on it, set up green houses for growing your own food, keep livestock to slaughter, you could do a LOT with 47 acres.

Looks a nice house btw.

Yes, but as Mike says you can get a house with similar land for less than half the price.

What particularly annoys me (amongst many things about the woman) is that she is putting her house up for sale for £1.9m a few short months after her wails about poverty and having to use the dog's shampoo led to pensioners sending her money to help her out.

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Although you say it's overpriced in the current market, is it by that much though really going forward?

I mean as long as you can farm on it, set up green houses for growing your own food, keep livestock to slaughter, you could do a LOT with 47 acres.

Looks a nice house btw.

Easily it's over priced. Agricultural land is rarely more than £6k per acre and this is in the middle of nowhere so is probably worth far less. I'd say the 47 acres is worth £200k tops, but probably nearer £100k. Look at the article by the way, do you notice the reference to buying a smaller property with more land and a budget of £650k. This implies the land is very cheap in the area. It is a fairly large house, and might cost £2m in Surrey, but where she is I'd say £800k for the house and £100k for the land.

She'll probably get an idiot from London or one of her readers to pay a bit more than the £900k valuation I have come up with, but I seriously can't see it selling for more than £1.2m.

As far as I am concerned this article is just a giant estate agency advert for a desperate seller.

Edited by Mikhail Liebenstein

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As Liz is an old "friend" of the site, could the propertybee boys keep their eyes on this one.

http://www.telegraph.co.uk/property/westcountryproperty/7939498/Liz-Joness-Exmoor-home-for-sale.html

And here it is, in its overpriced glory of £1.9m (how can a barn be worth £0.5m ffs):

http://www.struttandparker.com/farms-and-estates-for-sale/dulverton-somerset/farm-and-estate_EXE100158.html

Interesting link to the estate agent website, not been there before. I think we've been "misunderestimating" them.

http://www.estateagenttoday.co.uk/

A move ......" maybe the Brecon Beacons or Snowdonia." I've a feeling her Welsh neighbours may prove to be a lot less tolerant of her questionable wit ,than the green wellied Exmoor folk. I sincerely hope so anyway.

What's that funny smell??

I see Wesker is trying to sell his hovel in Gwent (Bill Jackson) for some extortionate price (he was asking more until he realised that showing his face with the property pics was having an adverse effect on his prospects).

You get rid of one dipstick only to find you have a bigger one moving in.

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Of course, it might also help if there weren't several dozen other also trying to bug out.

These are far better quality properties and or have more land/buildings and they are at a similar asking price

7 bed farm house with 225 acres for £2m:  Link

5-8 bed arts and crafts house 13 acres for £2m: Link

10 bed house + 10 self contained holiday cottages and 27 acres £1.95m:  link

Now these houses are  still  better or similar, but far cheaper

5 bed farm house with 79 acres and 33 stables for £1.65m: Link

7 bed farm house with 111 acres for £1.325m  :Link

5 bed house with 16 acres and 12 holiday bungalows: Link

And this is I would say is more like it in terms of comparison

7 bed house with 8.9 acres and a 2 bed cottage for £975,000:  Link

5 bed equestrian propert with 39 acres for £950,000: Link

5 bed house with 21 acres in the Exmoor Nation park £850,00: Link

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Some crackers there.

'Crackers' being the mot juste.

With Ms. Jones house, according to the article, you already get a bat sanctuary worth £26,000. Well, I don't suppose Pickfords will be moving it. So, no need for a home improvement loan.

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Article says Upcott farm, so if the 2nd one, bought for £600k +, spent £500k on barn conversion plus other conversion and improvement costs, £1.3m to break even maybe?

Edited by deflation

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What do you reckon its worth?  I'd say under £1m.

Probably, at the mo

There are two houses there though - the farmhouse & a barn conversion - plus PP for a holiday let. It'd probably go for a tad under what she's asking if it were here, but I think Exmoor is considerably cheaper

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Article says Upcott farm, so if the 2nd one, bought for £600k +, spent £500k on barn conversion plus other conversion and improvement costs, £1.3m to break even maybe?

I make it declared outlay of:

634 Price to buy

65 Finders fee (I kid you not, Phil of Phil and Krusty)

15 Stamp duty

500 Barn

30 All weather riding arena

1244

So add in undeclared outlay, and then we have mortgage interest on all that. £70k a year for 5 years. Say £24k (generous) to rent same, gives £46k * 5 = £230k extra expense.

So £1,474k. Easily £1.5m with the undeclared outlay.

From that viewpoint £1.9m doesn't appear unreasonable. It just will if anybody compares it to similar properties as has been done on this thread.

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25 k @ 4% ?

I guessed it was 2.5%, I was trying not to overstate anything.

I suspect that if it was all honestly accounted for (which is what I was attempting) then £1.6m is break-even when £1m is nearer the likely selling price.

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Article says Upcott farm, so if the 2nd one, bought for £600k +, spent £500k on barn conversion plus other conversion and improvement costs, £1.3m to break even maybe?

According to the Council Tax database, Upcott Farm is not the same place as Middle (or Higher) Upcott Farm.

UG is Band G whereas Middle UF is an F.

As the article says that she moved in 2008 it would seem that the sale is not on the LR for some reason

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Isnt the West country a bit 'hideously white' for Liz Jones.

She doesn't like anyone, that's why she needs the space and even more land.

As she explains, she doesn't like men, only bats and lame animals.

And if anyone hideously human approaches, her four collies will all bark at once.

Real sweetheart.

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Probably, at the mo

There are two houses there though - the farmhouse & a barn conversion - plus PP for a holiday let.  It'd probably go for a tad under what she's asking if it were here, but I think Exmoor is considerably cheaper

Agree, and of course there are two other with even more holiday lets as part of the deal. One of the properties I posted included 10 holiday let bungalows.

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I make it declared outlay of:

634 Price to buy

65 Finders fee (I kid you not, Phil of Phil and Krusty)

15 Stamp duty

500 Barn

30 All weather riding arena

1244

So add in undeclared outlay, and then we have mortgage interest on all that. £70k a year for 5 years. Say £24k (generous) to rent same, gives £46k * 5 = £230k extra expense.

So £1,474k. Easily £1.5m with the undeclared outlay.

From that viewpoint £1.9m doesn't appear unreasonable. It just will if anybody compares it to similar properties as has been done on this thread.

"I doubt she'll get it," says one estate agent. He begs to remain nameless. They all do!

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Imagine living with that.

It wouldn't be too bad.

I reckon she must spend nearly all of her time hanging upside side down from the ceiling in her bat sanctuary, and ventures out into the light only on rare occasions.

You'd pretty much have the house to yourself, really.

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She was whalling in the paper a few months back that she was paying 11 x the base rate for her mortgage which is 5.5% , lots of people are as well, but she made it sound as if she was the only one paying that much.

She said that after clawing her way up the property market that she was now in NE. So she must have made some big mistakes somewhere along the line if in NE , after owing property in London during the biggest boom ever.

If she is in NE , I wonder how much her mortgage is and how much her montly payment is a t 5.5% ?

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She was whalling in the paper a few months back that she was paying 11 x the base rate for her mortgage which is 5.5% , lots of people are as well, but she made it sound as if she was the only one paying that much.

She said that after clawing her way up the property market that she was now in NE. So she must have made some big mistakes somewhere along the line if in NE , after owing property in London during the biggest boom ever.

If she is in NE , I wonder how much her mortgage is and how much her montly payment is a t 5.5% ?

NE! Kinell.

Given we're coming out at £1.5m expended then she must owe upwards of that. At 5.5% she is paying 82.5k a year on £1.5m.

I wouldn't be able to sleep, let alone worry about where my next [insert designer name here] dress is coming from.

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  • 261 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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