Swansea-State Of The Market

[The Masked Tulip]

Same old story though, isn't it.

Unless the "seller" is trying to move on due to death, divorce, job move/loss etc they are not that motivated to be reasonable on the pricing.

For those with a mortgage, low interest rates continue to help them out. Until unemployment or interest rates go up (hitting sellers on the breadline, but also hitting affordability for buyers) the current situation will just grind along re prices.

Yep. Can't argue with this.

[The Masked Tulip]

An EA tried to get an elderly relative of mine to do a swap with her mid-sized house in Mumbles a tiny so-called cottage.

The price that they valued the tiny 'cottage' at was eye-watering - basically valued it almost as much as her home. But not to worry, my relative would have come out of the deal with 5K in her hand.

Edited to add the appropriate

Edited September 17, 2012 by The Masked Tulip

[Argoed]

An EA tried to get an elderly relative of mine to do a swap with her mid-sized house in Mumbles a tiny so-called cottage.

The price that they valued the tiny 'cottage' at was eye-watering - basically valued it almost as much as her home. But not to worry, my relative would have come out of the deal with 5K in her hand.

Edited to add the appropriate

Every property that I looked at recently on my week back in Wales involved either dealing with the estate or else was occcupied by an old dear who wanted to downsize in some shape or form (to flat, smaller house or in with the daughter).

Their memories may not be as good as they were , but they ALL remember as far back as peak prices in 2008 and that is what they are still looking for despite the fact that they bought these place for 500 quid back in 1960 and are mortgage free. Many are fired up by the voracious kids who will continue to anxiously watch their inheritances eroded by the increasing maintenance costs etc , apparently oblivious to mum's diminishing standard of living in her cash poor world. I've met a few of these "caring" kids over the years....ah, I remember well Wiilowbrook Gardens.

[The Masked Tulip]

Wanted to see this place in Knelston last week and was told not to bother since deal almost closed. I'm reliably informed it went for less than 300K !

How is this possible? I have not seen then listing that they have an offer on it either on-line or in print? I would go and ask them where they publicised the offer - which they are entitled to do.

[The Masked Tulip]

The Beeches Close, Sketty, is interesting.

One 5 bed house on for asking price of 550K, directly opposite is a 4 bedroom, albeit different style of house, on for 250K asking.

OK, the houses are different in style and one has one more bedroom but if you really wished to live in that road would you pay more than double for the bigger house?

http://www.rightmove.co.uk/property-for-sale/property-23157147.html

http://www.homesonview.co.uk/Scripts/ShowProperty.asp?css=&CompanyID=DAWSSKET&AgencyID=DAWSSKET&ID=DEP03069

Streetview:

http://maps.google.co.uk/maps?q=The+Beeches+Close,+swansea&ll=51.623219,-4.005525&spn=0.002168,0.00456&oe=utf-8&client=firefox-a&hnear=The+Beeches+Close,+Sketty,+Swansea+SA2+7ND,+United+Kingdom&gl=uk&t=h&z=18&layer=c&cbll=51.623139,-4.005356&panoid=M0g6UmX0D8e8581r1POn5Q&cbp=12,223.5,,0,6.14

[mumblesmental]

both are horrible, over 500k to live in a standard house in Sketty, no thanks! What can we say about the pricing that we have not said before!

[The Masked Tulip]

both are horrible, over 500k to live in a standard house in Sketty, no thanks! What can we say about the pricing that we have not said before!

Yep, that is how I feel. I just spent a couple of hours of my life looking at loads of really plain or cr*p houses on for silly sums of money.

When I am on rightmove or primelocation I tend to type in other rural locations and at least people get pretty houses for their money.

[Argoed]

How is this possible? I have not seen then listing that they have an offer on it either on-line or in print? I would go and ask them where they publicised the offer - which they are entitled to do.

Actually went into the office and said , "I spoke to you a month ago on the telephone about Knelston , here I am , when can I view it ?". In very relaxed manner he said, 'too late, it's gone and I can't tell you for how much (but it was less than 300K)". Later drove passed it and could see no sign and as you say nothing to indicate anywhere that it's gone.

But in this case I'm inclined to think it's down to the 'lethargy" of the agent rather than to anything improper.

[Argoed]

The Beeches Close, Sketty, is interesting.

One 5 bed house on for asking price of 550K, directly opposite is a 4 bedroom, albeit different style of house, on for 250K asking.

OK, the houses are different in style and one has one more bedroom but if you really wished to live in that road would you pay more than double for the bigger house?

http://www.rightmove.co.uk/property-for-sale/property-23157147.html

http://www.homesonview.co.uk/Scripts/ShowProperty.asp?css=&CompanyID=DAWSSKET&AgencyID=DAWSSKET&ID=DEP03069

Streetview:

http://maps.google.co.uk/maps?q=The+Beeches+Close,+swansea&ll=51.623219,-4.005525&spn=0.002168,0.00456&oe=utf-8&client=firefox-a&hnear=The+Beeches+Close,+Sketty,+Swansea+SA2+7ND,+United+Kingdom&gl=uk&t=h&z=18&layer=c&cbll=51.623139,-4.005356&panoid=M0g6UmX0D8e8581r1POn5Q&cbp=12,223.5,,0,6.14

Or Ellis Grove in Killay where there are three identical houses in a cu de sac. The one on with Daws for 525k and the second with Simps for 399K . Yes the furnishings in the 525 are very nice but those will disappear . Impossible to see any physical reason for the price difference.

[The Masked Tulip]

Or Ellis Grove in Killay where there are three identical houses in a cu de sac. The one on with Daws for 525k and the second with Simps for 399K . Yes the furnishings in the 525 are very nice but those will disappear . Impossible to see any physical reason for the price difference.

You really need to get your HPC messenger enabled.

[Argoed]

You really need to get your HPC messenger enabled.

I do have one in there already ?

[The Masked Tulip]

Oh goody - lots of stuff in Swansea West that was SSTC just came back available. Wonder why?

The stuff on the market can't sell and the new stuff, IMPO, comes on for more and more outrageous asking prices.

It is like banging your head against a desk with some of these EAs and their valuations. Can't they see that getting loads of ludicrous houses on their books that people make offers on... and the banks laugh and say the house is not worth anywhere near it... is just BIG time denial?

[Byron]

There is no answer to it.

Do the EAs really think their prices are accurate?

How do they arrive at them?

Three years ago I sold my father's house.

The EA in Cardiff gave me a map with the prices achieved for the last 10 houses in the district, together with the reasons why my fathers house was worth more or less than them.

Perhaps they should consider doing that in Swansea.

[The Masked Tulip]

Was just looking at a house on for over 500K and noticed that it has slowly been comimg down at 10K per time every few months. At this rate it will be bought in about 5 or 6 years time.

[Democorruptcy]

Was just looking at a house on for over 500K and noticed that it has slowly been comimg down at 10K per time every few months. At this rate it will be bought in about 5 or 6 years time.

The Chinese have a word for that Lingchi

[The Masked Tulip]

The Chinese have a word for that Lingchi

Yes, torture for potential buyers. Very interesting link - thanks.

[The Masked Tulip]

Looks like JF just lost two big sales in Derwen Fawr - 2 late 300K houses both just came back on the market after being SSTC for a month or two.

[Byron]

Looks like JF just lost two big sales in Derwen Fawr - 2 late 300K houses both just came back on the market after being SSTC for a month or two.

Chortle

[mumblesmental]

chortle chortle

[The Masked Tulip]

chortle chortle

Saunders Way, Derwen Fawr, Swansea

http://www.rightmove.co.uk/property-for-sale/property-38008154.html

Rhyd Y Defaid Drive, Sketty, Swansea

http://www.rightmove.co.uk/property-for-sale/property-23702805.html

[The Masked Tulip]

Actually went into the office and said , "I spoke to you a month ago on the telephone about Knelston , here I am , when can I view it ?". In very relaxed manner he said, 'too late, it's gone and I can't tell you for how much (but it was less than 300K)". Later drove passed it and could see no sign and as you say nothing to indicate anywhere that it's gone.

But in this case I'm inclined to think it's down to the 'lethargy" of the agent rather than to anything improper.

Well Argoed, perhaps the reason you were told this is that it is now on with Clee Tompkinson Francis and that today, in today's Property Post, they have it listed for 310K and have put a notice in the paper saying that they have received an offer of 295K for it and anyone interested needs to offer above 295K by such and such a date.

So if you wish to buy it, I suggest you make an offer to CTF ASAP.

Edit:

Just checked on their website and it says the offer they have received is apparently 285K and not 295K. Hmm...

I think this warrants another "Hmm..." and 2

The Property Post details have to go in a week in advance so it would be easier for them update their website than to change the details in the Post. In other words, odd that the Post price is higher than the website price?

Here it is:

http://www.homesonview.co.uk/Scripts/ShowProperty.asp?css=&CompanyID=CLEECLYD&AgencyID=CLEECLYD&ID=CLP01091

Here is the blurb;

Clee Tompkinson Francis are now in receipt of an offer for the sum of £285000 for The Hollies, Knelston, Reynoldston, Swansea, SA3 1AR. Anyone wishing to place an offer on this property should contact (Clee Tompkinson Francis, 19 Walter Road, Swansea, SA1 5NQ, 01792 475332) Before exchange of contracts. Set in this desirable Gower village we offer a 4 bedroom detached family home accommodation includes, entrance hallway, 3 reception rooms, large kitchen, utility room, cloaks to ground floor, 4 good size bedrooms, 2 with ensuite shower rooms, large family bathroom to 1st floor, externally there is a good size driveway with detached garage and comfortable sized rear gardens over looking farmland. No Chain.

So which is it - 285K or 295K? One assumes if you asked now you would be told 295K?

I have to say that when I see differences like that on offers it makes me wonder about the offer - full stop.

Edited September 25, 2012 by The Masked Tulip

[Argoed]

Well Argoed, perhaps the reason you were told this is that it is now on with Clee Tompkinson Francis and that today, in today's Property Post, they have it listed for 310K and have put a notice in the paper saying that they have received an offer of 295K for it and anyone interested needs to offer above 295K by such and such a date.

So if you wish to buy it, I suggest you make an offer to CTF ASAP.

Edit:

Just checked on their website and it says the offer they have received is apparently 285K and not 295K. Hmm...

I think this warrants another "Hmm..." and 2

The Property Post details have to go in a week in advance so it would be easier for them update their website than to change the details in the Post. In other words, odd that the Post price is higher than the website price?

Here it is:

http://www.homesonview.co.uk/Scripts/ShowProperty.asp?css=&CompanyID=CLEECLYD&AgencyID=CLEECLYD&ID=CLP01091

Here is the blurb;

So which is it - 285K or 295K? One assumes if you asked now you would be told 295K?

I have to say that when I see differences like that on offers it makes me wonder about the offer - full stop.

[Argoed]

Well Argoed, perhaps the reason you were told this is that it is now on with Clee Tompkinson Francis and that today, in today's Property Post, they have it listed for 310K and have put a notice in the paper saying that they have received an offer of 295K for it and anyone interested needs to offer above 295K by such and such a date.

So if you wish to buy it, I suggest you make an offer to CTF ASAP.

Edit:

Just checked on their website and it says the offer they have received is apparently 285K and not 295K. Hmm...

I think this warrants another "Hmm..." and 2

The Property Post details have to go in a week in advance so it would be easier for them update their website than to change the details in the Post. In other words, odd that the Post price is higher than the website price?

Here it is:

http://www.homesonview.co.uk/Scripts/ShowProperty.asp?css=&CompanyID=CLEECLYD&AgencyID=CLEECLYD&ID=CLP01091

Here is the blurb;

So which is it - 285K or 295K? One assumes if you asked now you would be told 295K?

I have to say that when I see differences like that on offers it makes me wonder about the offer - full stop.

When this was on with the previous agent I had offered 250K but they wanted proof of "life" and I would not send details by post etc. Then change to CTF and I spoke to him saying I would be back to view soon.

I called to the office and said I'd like to view but was "dismissed " on the basis that it had gone and he said and I recall "Can't tell you how much (but it's less than 300k ....ah ah )". Now I was parked outside on double yellow lines so in a rush, but if I'd thought I would have said ,Well it will be published in the paper anyway so you might as well tell me now ..... and anyway I still want to see it". Clearly , these repos are a pain to deal ,with no money for the EA and they want to keep life as simple as poss.

The bank could have had 250K for this 6 months ago but are prepared to endure for another 3 months for 35K it seems. Maybe they'd be more realistic ...... if it was actually their money in play!!

[The Masked Tulip]

I understand that the uni is in a bit of a panic. Student numbers allegedly down 20% costing 5 million. Wonder what affect that will have on HMOs.

[thirdwave]

I understand that the uni is in a bit of a panic. Student numbers allegedly down 20% costing 5 million. Wonder what affect that will have on HMOs.

I know two big time LLs who have several properties empty. To be fair to them, neither expect things to improve any time soon and are actively seeking to bail out..

Edited October 1, 2012 by thirdwave