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thirdwave

Swansea-State Of The Market

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Anyone heard of We Will Homes?I read somewhere they are new to the scene-I mean anyone who chooses to launch an EA in this market seriously need to have their head examined! Anyway, having looked at their listings, they appear to be one of the worst offenders when it comes to optimistic pricing

Take a look at this one, for example..

http://www.rightmove.co.uk/property-for-sale/property-30896017.html

Highest price ever achieved on the street (in 10/06) was 280k. I can`t believe they really expect to achieve even close to that, let alone what the house is actually listed for!

They have had 2-3 SSTCs over the last 2 months or so out of around 70 properties on their books..I wonder how they manage to stay afloat with such poor volumes. Having said that, I notice most of their listings have interactive FPs and the like so may be they make a few quid flogging 'optional extras' to deluded sellers. Maybe they have realised its difficult to achieve decent volumes in the current market and have therefore decided to base their business model purely on gaining instructions at fantasy valuations and subsequently selling additional services to vendors...

Edited by thirdwave

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Anyone heard of We Will Homes?I read somewhere they are new to the scene-I mean anyone who chooses to launch an EA in this market seriously need to have their head examined! Anyway, having looked at their listings, they appear to be one of the worst offenders when it comes to optimistic pricing

Take a look at this one, for example..

http://www.rightmove.co.uk/property-for-sale/property-30896017.html

Highest price ever achieved on the street (in 10/06) was 280k. I can`t believe they really expect to achieve even close to that, let alone what the house is actually listed for!

They have had 2-3 SSTCs over the last 2 months or so out of around 70 properties on their books..I wonder how they manage to stay afloat with such poor volumes. Having said that, I notice most of their listings have interactive FPs and the like so may be they make a few quid flogging 'optional extras' to deluded sellers. Maybe they have realised its difficult to achieve decent volumes in the current market and have therefore decided to base their business model purely on gaining instructions at fantasy valuations and subsequently selling additional services to vendors...

+1 :D

Posts from "Swansea Property Agent" have confirmed tactics being used by some EA's flogging optional extras. I have been looking at We Will Homes for a while, the only thing I like about them is their website but credit for that should go to The Property Jungle.

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I was checking right move as i do almost every day to see if my picks have reduced in price only to see so many new property listings ..upon closer examination it looks like Dawsons Swansea have removed all their properties of right move and relisted them to make them appear as new listings. Even property bee can’t seem to track the listings and see they are not new, i know this because some have been on for over a year and i have them in my ‘find a property’ saved properties. I wonder why they are doing this instead of just reducing the price...

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Mumbles Dawsons' office have just appeared to have relisted their entire stock on Rightmove.

Oh TMT you beat me to it...only after posting did i see your post. Good one

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I was checking right move as i do almost every day to see if my picks have reduced in price only to see so many new property listings ..upon closer examination it looks like Dawsons Swansea have removed all their properties of right move and relisted them to make them appear as new listings. Even property bee can’t seem to track the listings and see they are not new, i know this because some have been on for over a year and i have them in my ‘find a property’ saved properties. I wonder why they are doing this instead of just reducing the price...

They must think everyone is as thick as they are..

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That relisting - as I browsed through it - just reinforced just how many ludicrously priced asking priced houses there are in the Mumbles and on the Gower IMPO.

It also made me realise, as if I did not know, how much cr*p is on for 200K to 350K. If anything, it has put me off wanting to buy in the area. 200K is a serious amount of money!

I really can't see many of those 400K plus houses selling let alone the stuff on for 600K plus. Yes, every now and then someone rich will buy one... but you know what, even if you were a surgeon you would be seriously worried by having a mortgage on some of those things WHEN interest rates rise... and rise they will eventually.

A US default this week could, quite simply, throw up IRs globally. By this time next week people might be in complete shock by the change.

It might not happen... but it could... these are scary times....

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That relisting - as I browsed through it - just reinforced just how many ludicrously priced asking priced houses there are in the Mumbles and on the Gower IMPO.

It also made me realise, as if I did not know, how much cr*p is on for 200K to 350K. If anything, it has put me off wanting to buy in the area. 200K is a serious amount of money!

I really can't see many of those 400K plus houses selling let alone the stuff on for 600K plus. Yes, every now and then someone rich will buy one... but you know what, even if you were a surgeon you would be seriously worried by having a mortgage on some of those things WHEN interest rates rise... and rise they will eventually.

A US default this week could, quite simply, throw up IRs globally. By this time next week people might be in complete shock by the change.

It might not happen... but it could... these are scary times....

Amen to that B)

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We Will launched at the same time that I started with CharEstate (2006 ish)which I have now relaunched with a business partner 18 months ago to SPA.

I personally think starting up during the bad times is the best. If you can get through it, then it can only get better and you are already aware of how the market can turn the other way. We have increased our portfolio and business month after month during these hard times for agents. Although a lot of our business came from other agents after vendors/landlords decided to change.

WWH prices were not too bad a few years ago, but now that their office is full of agents that have worked for other firms, they have fallen in to the trap that we are trying to avoid and that is why we want new staff to have no experience. We can then train them how we want business to be done rather than have habits picked up from working with all the other EA's.

With regards to the re-listing. I've mentioned this many times before, but possibly just in private messages. Many of the EA's are copying each other now that they have all realised how it works.

Basically on portals, if somebody does a search it brings up results in order that they were listed and it e-mails all enquiries property alerts.

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If you go to globrix, put SA2 in the postcode, do a radius of 5 miles and search for the past 24 hours it looks like Dawsons of Sketty have added a few. Just go here:

http://www.globrix.com/property/buy/sa2?ns=true&rd=1&hits=10&br=buy&qt=sa2&keyword_field=

Quite funny though as several are showing just 1% and 2% price drops... a few K here and there. What is the point?

Huge 2% drop here:

http://www.globrix.com/property-details/31734200-harlech_crescent-sketty-sa2-3_bed-semi_detached_house

Massive 1% drop here:

http://www.globrix.com/property-details/30654388-vivian_road-sketty-sa2-3_bed-semi_detached_house

2%

http://www.globrix.com/property-details/26188770-carnglas_road-sketty-sa2-4_bed-semi_detached_house

1%

http://www.globrix.com/property-details/31690138-dunraven_road-sketty-sa2-3_bed-semi_detached_house

2%

http://www.globrix.com/property-details/31636268-tycoch_road-sketty-sa2-3_bed-semi_detached_house

3%

http://www.globrix.com/property-details/31294462-eversley_road-sketty-sa2-3_bed

1%

http://www.globrix.com/property-details/27281130-ashleigh_road-sketty-sa2-4_bed-bungalow

None of the above cut it IMPO. In a falling market with the economy getting worse you have to be talking about a minimum 10% drop in asking price IMPO just to get people through the door.

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I've just had another look at the property on RM linked above and again here: My link

Anybody notice something odd about the table in picture number 6?

Tiny. The shower and toilet room looks as if it is in a cupboard also. Kitchen is very dark.

Seems an awful lot of money for such a house IMPO.

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I've just had another look at the property on RM linked above and again here: My link

Anybody notice something odd about the table in picture number 6?

Please please don’t tell me EA’s have started photoshopping, wouldn’t that be illegal? :angry:

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Please please don’t tell me EA’s have started photoshopping, wouldn’t that be illegal? :angry:

There was a link on one of the forums before that showed 2 pictures of the rear garden. One before and one after photoshopping on RM :o

Can't believe the EA uploaded both of them :lol:

Apparently there are on-line companies that photoshop pictures for EA's to improve marketing and it seems to be above board. I thought it would be against the misdescriptions act.

And why would you want to do that? Its the same with descriptions of properties. You over-sell something and when they see it in person, they are disappointed. I find it best to under-sell and then when people know the negatives, they are usually happier once they see the property and it makes selling or letting easier.

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Maybe its just me, but the table seems to be floating :lol:

EA equivalent of polishing a turd..makes you wonder if WWH's 'virtual floor plans' are really that...

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Depressing LR figures for Wales overall (although it relates to sales agreed during the spring bounce that never was) but better figures for Swansea (0.1 MoM, -5.2% YoY).Hope sellers are taking notice. Just need some decent numbers from Nationwide tomorrow to rub it in..

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Depressing LR figures for Wales overall (although it relates to sales agreed during the spring bounce that never was) but better figures for Swansea (0.1 MoM, -5.2% YoY).Hope sellers are taking notice. Just need some decent numbers from Nationwide tomorrow to rub it in..

I thought the figures were excellent for a Welsh housing crash. Blaenau Gwent - the poorest place in the UK which now has a 15% YOY fall in prices according to the land registry's sold prices - had a massive 2.5% rise last month. Meaning that it is quite possible that just one or two houses selling in the area have distorted the figures for the area.

Take away Blaenau Gwent figures from this month's data for Wales and it shows that Wales is going down. Bridgend had a 1% rise MOM, Cardiff only managed 0.5% rise MOM and Swansea a miserable 0.1% rise. Everywhere else in Wales reported land reg falling prices.

Wales is on the verge of a big collapse IMPO. Take heart.

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I thought the figures were excellent for a Welsh housing crash. Blaenau Gwent - the poorest place in the UK which now has a 15% YOY fall in prices according to the land registry's sold prices - had a massive 2.5% rise last month. Meaning that it is quite possible that just one or two houses selling in the area have distorted the figures for the area.

Take away Blaenau Gwent figures from this month's data for Wales and it shows that Wales is going down. Bridgend had a 1% rise MOM, Cardiff only managed 0.5% rise MOM and Swansea a miserable 0.1% rise. Everywhere else in Wales reported land reg falling prices.

Wales is on the verge of a big collapse IMPO. Take heart.

Any rise, albeit a meager 0.1%, is bound to be treated as great news by many..one would require sustained MoM falls and double digit negative YoY figures before vendors in SA3 would countenance even a 2% drop in asking prices..

Fingers crossed for the much awaited US default next week :lol:

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Any rise, albeit a meager 0.1%, is bound to be treated as great news by many..one would require sustained MoM falls and double digit negative YoY figures before vendors in SA3 would countenance even a 2% drop in asking prices..

Fingers crossed for the much awaited US default next week :lol:

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Hmmm.. it looks like some don’t think the Swansea FC move to the premiership would help business so they are upping and leaving, i honestly think selling now would be a good move for all homes over the £300K threshold for come beginning of next year it going to be freefall for such homes.

See – do you really think there is a £100k T/O in this? :o:unsure: If true why sell

Mumbles – even the B&B’s here can’t even make it

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Hmmm.. it looks like some don’t think the Swansea FC move to the premiership would help business so they are upping and leaving, i honestly think selling now would be a good move for all homes over the £300K threshold for come beginning of next year it going to be freefall for such homes.

See – do you really think there is a £100k T/O in this? :o:unsure: If true why sell

Mumbles – even the B&B’s here can’t even make it

Little Langland hotel has been up for sale for a long time.

Patricks with rooms & Tides Reach have both recently expanded so B&B's can survive. also cafe valance has opened rooms as well.

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  • 315 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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