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Normski

Estate Agent Talks Sense.

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Went to view a house today, a doer-upper, a possible future cave for long

term family life.

Detached bungalow, 110 Sq M, 1/3 acre and a great location near the

Cotswolds. £275,000. A good bungalow in this loacation with this size

garden could be £400,000 - £450,000.

So, at the house the following conversation:-

Me:- I know the ad said ?needs refurbishment or development? but it said

nothing about the sloping floors or gaps around the window frames!

EA:- It?s timber framed, it could do with being knocked down and rebuilt.

Me:- A bit out of our league at the mo. I guess we could live in it for a

few years while getting the funds together for a self build. I?ve always

fancied that.

EA:- Well, to be honest, the asbestos that covers the external brick

infills won?t mix too well with your kids.

My wife:- (disappointment / weary look) I knew this was too good to be

true.

EA:- Don?t be too disappointed. If I was you I?d stay in your rented

cottage for another 12 months. Houses will have dropped 10% by then.

Me:- (couldn?t believe my ears) I?ve been telling her that for the last 2

years!

This was even better for the mother-in-law being present to hear this. She

(and my dad) have been concerned for us since we sold-to-rent in September

2009. They listen to my argument but still want us to buy.

This EA runs an independent office, established for 30 years, only has 15

or 20 on his books at any one time. I bought my only house from him in

2001, and to complete the circle chose him to sell our house in ?09. Good

karma, sold in 2 days for asking (120% increase in those 8 years. Total

refurb, mind).

This EA and I got on well in 2009, I remember discussing the market with

him back then and I was fairly surprised when he said he thought prices

would be flat for the next 12 months. He turned out to be right, though,

didn?t he?

So, good day for us. Really good day for me because my mother-in-law now

perhaps thinks I might not be so mentally unstable. It helps that our

rented cottage suits us very well and our landlord is a nice guy (farmer /

has rented our cottage out for last 35 years / no plans to sell / just

needs the cottage occupied).

Just wanted to share.

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With the exception of a few sour faced ladies I have spoken to, most EAs I bump into seem to be like your friend.

Most don't actively talk themselves out of a sale, but they seem to have a pretty good idea of what is going on.

I consider myself lucky not to have met many before the crash to know what they used to be like when the sellers held all the cards.

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This was even better for the mother-in-law being present to hear this. :o

... Really good day for me because my mother-in-law now perhaps thinks I might not be so mentally unstable. <_<

God, I am sooo happy NOT to be in your shoes ;)

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thanks for such an interesting story. Your improved standing in your mother-in-laws eyes is worth more than many would think! Keep in touch with him as he may well put something affordable your way.

My experience with estate agents, both as a buyer and a seller, has been much more positive than one would expect from hearing all the horror stories. Your agent sounds as though he actually sells houses rather than markets them. It's a subtle distinction but some agents work on a business model that involves getting loads of houses on their books, often at unrealistic prices, and selling a small percentage of these every month whereas others have a much smaller book but tend to sell more quickly by pricing more competitively. I prefer the latter as a sellers agent as they tend to work harder to deliver a sale.

Good luck with the hunt

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Isnt asbestos only a danger when its disturbed? ie when fragments that are small enough to breathe in break loose? Just another one of those daft H&S things like lead based paint. Dont lick walls and youll be fine. Give my a lead asbestos house over your green wishy washy grand designs house made of bunny rabbit droppings anyday.

My grans house is pretty much 100% asbestos, and shes 97, so it doesnt seem to have done her much harm.

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Theres a few sensible agents around nowadays, we put in an offer on a place 2 weeks ago 10% under and were rejected, the agent called to say they thought it was a very reasonable offer in the market and to let them stew for a few months!

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Well, obviously if its demolished. I wouldnt think renovation need disturb the asbestos.

OK. Timber frames in what condition? Sloping floors, gaps around windows, etc etc... and any other horrors awaiting uncovering. No problems.

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  • 311 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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