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TheCountOfNowhere

House Price Crash Of The Day...

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I am starting to see some big drops now...so here are a couple for your amusement.

http://www.rightmove.co.uk/property-for-sale/property-30545066.html

4 bedroom house for sale £1,599,950

Hogs Back, Compton

18 November 2010

* Price changed: from '£1,999,950' to '£1,599,950'

30 July 2010

* Price changed: from '£2,500,000' to '£1,999,950' [Found by n/a]

17 July 2010

* Initial entry found. [Found by n/a]

And atthe other end of the scale:

http://www.rightmove.co.uk/property-for-sale/property-17009598.html

17 November 2010

* Brief Description changed: Situated in a sought after area in Wellingborough is this three bedroom extended semi-detached house which This property is being sold through Auction in London at BMA House, Tavistock Square, London, WC1H 9JP on 14th December 2010 This property is in need of refurbishment. The property has been extended to the rear and has a good sized rear garden. reburbishment. [Found by n/a]

* Price changed: from '£105,000' to 'Guide Price £60,000' [Found by n/a]

08 October 2010

* Initial entry found. [Found by n/a]

Going to auction, but the auction valuation very much different from the estate agent valuation...shows well how over-priced house asking prices actually are.

We really are in for a big correction.

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first one was an embarrassment from Foxtons as usual.. that's not a price reduction - it's still a work of fantasy, let alone fiction. It's Foxtons - they failed miserably in getting into Surrey...... and resorted to appealing to avarice...... pointless exercise in marketing it - someone who really didn't know their market, or a deluded seller. is it worth a million ?

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I am starting to see some big drops now...so here are a couple for your amusement.

http://www.rightmove.co.uk/property-for-sale/property-30545066.html

4 bedroom house for sale £1,599,950

Hogs Back, Compton

18 November 2010

* Price changed: from '£1,999,950' to '£1,599,950'

30 July 2010

* Price changed: from '£2,500,000' to '£1,999,950' [Found by n/a]

17 July 2010

* Initial entry found. [Found by n/a]

And atthe other end of the scale:

http://www.rightmove.co.uk/property-for-sale/property-17009598.html

17 November 2010

* Brief Description changed: Situated in a sought after area in Wellingborough is this three bedroom extended semi-detached house which This property is being sold through Auction in London at BMA House, Tavistock Square, London, WC1H 9JP on 14th December 2010 This property is in need of refurbishment. The property has been extended to the rear and has a good sized rear garden. reburbishment. [Found by n/a]

* Price changed: from '£105,000' to 'Guide Price £60,000' [Found by n/a]

08 October 2010

* Initial entry found. [Found by n/a]

Going to auction, but the auction valuation very much different from the estate agent valuation...shows well how over-priced house asking prices actually are.

We really are in for a big correction.

The fact that nowhere in the 9 pictures is there an outside view of the first causes me grave concern.

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Isn't there a recent trend to undervalue the auction guide price to generate interest?

Has been the case for some time. "Guide price" is often misleading but gets more interested parties to bid against each other. Anything nice generally finishes up bearing no resemblance to the guide price.

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The fact that nowhere in the 9 pictures is there an outside view of the first causes me grave concern.

The houses on the Hogs Back tend to be quite close to the A31 from Farnham to Guildford. It's a nasty bit of dual carriageway with turnings in the central reservation. So when coming and going from the house you end up with a one-way turn out of the drive and then have a difficult turn to do if you want to head in the other direction.

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Isn't there a recent trend to undervalue the auction guide price to generate interest?

I think there's also been a recent trend for 2nd hand house salesmens to over-value by about 20%.They know they will be knocking 10% off the asking price to get a buyer and add on the other 10% just to get the business/cause they can/cause they are *****s

From zoopla sold prices, a similar house on the same street:

30th Sep 2009

126 Ridgeway, Wellingborough NN8 4RZ

See all house prices in NN8 4RZ

Semi-detached, Freehold, 3 Beds, 1 Baths, 2 Receps - Edit

£135,000

They might be a bit annoyed when they see that other one go at auction for half what they paid.

Can someone go round this chaps house and give him some hankies ?

:lol::lol::lol:

We'll keep an eye on the action property, It says its up at

AUCTION

• 14th December 2010

• Tavestock Square, London

• Time:12pm 08702401140

so must be this one:

http://www.countrywidepropertyauctions.co.uk/dynamic.php?id=venues

BMA House

Tavistock Square, London, WC1H 9JP

View properties to be auctioned on Tuesday 14th December 2010 @ 12.00 noon

The funny bit is the agent has spelt Tavistock incorrectly :P

Edited by TheCountOfNowhere

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The funny bit is the agent has spelt Tavistock incorrectly :P

Don't be so mean, with all those big numbers and lies spinning round their gel-encased heads all day it's no wonder estate ageants have trouble spelling fings corectly.

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Don't be so mean, with all those big numbers and lies spinning round their gel-encased heads all day it's no wonder estate ageants have trouble spelling fings corectly.

My spolling isn't the best but if i was putting an ad up for public scrutinization then I'd really try and get the address spelt right.

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If that Wellingborough one sells at anything near £60k thats back to 2000 prices, even at £105k with no interest that would have been 2003 prices according to houseprices.co.uk for that street. Most expensive semi on that street sold for £170k in 2007.

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If that Wellingborough one sells at anything near £60k thats back to 2000 prices, even at £105k with no interest that would have been 2003 prices according to houseprices.co.uk for that street. Most expensive semi on that street sold for £170k in 2007.

Do we have the first reasonably priced house since the crash started ????

:lol:

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If that Wellingborough one sells at anything near £60k thats back to 2000 prices, even at £105k with no interest that would have been 2003 prices according to houseprices.co.uk for that street. Most expensive semi on that street sold for £170k in 2007.

I believe that 2000 prices is where we are headed, before heading back to 2002/3 ish valuations. ISTR that mortgage lending was back down around 2000 levels, and that the dot-com bust that started all of the funny money bubbles was around that time as well. Nothing particularly scientific about my reasoning, more of a gut feel. :)

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I am starting to see some big drops now...so here are a couple for your amusement.

http://www.rightmove.co.uk/property-for-sale/property-30545066.html

4 bedroom house for sale £1,599,950

Hogs Back, Compton

18 November 2010

* Price changed: from '£1,999,950' to '£1,599,950'

30 July 2010

* Price changed: from '£2,500,000' to '£1,999,950' [Found by n/a]

17 July 2010

* Initial entry found. [Found by n/a]

And atthe other end of the scale:

http://www.rightmove.co.uk/property-for-sale/property-17009598.html

17 November 2010

* Brief Description changed: Situated in a sought after area in Wellingborough is this three bedroom extended semi-detached house which This property is being sold through Auction in London at BMA House, Tavistock Square, London, WC1H 9JP on 14th December 2010 This property is in need of refurbishment. The property has been extended to the rear and has a good sized rear garden. reburbishment. [Found by n/a]

* Price changed: from '£105,000' to 'Guide Price £60,000' [Found by n/a]

08 October 2010

* Initial entry found. [Found by n/a]

Going to auction, but the auction valuation very much different from the estate agent valuation...shows well how over-priced house asking prices actually are.

We really are in for a big correction.

'Sought after area in Wellingborough'

Oxymoron of the day.

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I am starting to see some big drops now...so here are a couple for your amusement.

http://www.rightmove.co.uk/property-for-sale/property-30545066.html

4 bedroom house for sale £1,599,950

Hogs Back, Compton

18 November 2010

* Price changed: from '£1,999,950' to '£1,599,950'

30 July 2010

* Price changed: from '£2,500,000' to '£1,999,950' [Found by n/a]

17 July 2010

* Initial entry found. [Found by n/a]

And you don't even get to see a picture of the house?!

Um... Okay... :unsure:

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Actually, this one is caught in the pincer movement between the A3 and the A31 and is presumably on sloping land. This is definitely not worth £1M. Foxtons pricing again. It's a right mess to get into a railway station to commute and the trucks are under full load to get up the hill, so even more noise from the traffic. I'd simply never ever want it there.

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      • down 5% +
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