Jump to content
House Price Crash Forum
Sign in to follow this  
whocares

Drop Of £320K To £250K, Wthin 1 Month On The Market

Recommended Posts

Yes, inside must be a problem! (So they are not letting you see it!) What about this one GloomMonger .... if you like being by the sea?

http://www.rightmove.co.uk/property-for-sale/property-17322786.html

It looks like a decent enough 4 bedroom detached house at £198,950. Good for retirement, as within walking distance to all amenities. It just needs gutting and a massive make over?

It says it is new to market, but I know for sure this is a re-advertisement situation ... to get round the property bee history? (It has definitely been on the market for a while ... but I can't recall at what price.)

Must say I quite fancy this one myself, as I know & like the area, but there's just so much work to do on it.

Share this post


Link to post
Share on other sites

Spoke with one chain EA in Mumbles this morning who started off telling me how dire August has been for selling, but then went on to say that things are very buoyant when I tried to arrange an appointment in Langland.

I was told that they are so busy that no appointment could be done for at least a week, so I didn't bother - I suspect that it is simply because a lot of their staff is on leave this week.

Decided to go for a cup of tea instead of arranging a viewing.

I then bumped into another EA who is normally very bullish... he told me that "the banks have stopped lending, that there are no first time buyers now and the only people who can buy are cash buyers... but sellers just don't get it." He advised me to put in offers 20% below asking now as the banks won't lend and even if they did then a 90% offer is only going to be down-valued by the banks.

Make of that what you will.

Assume this must be across the UK?

Share this post


Link to post
Share on other sites

.....

Assume this must be across the UK?

My anecdotal from South Yorks is that I know a guy who didn't want to sell his 3 bed semi when he and wife bought a 4 bedder. And the bank was happy to convert his 3 bed semi mort into a BTL basis, and lend him 170k for the 4 bedder (he put down a dep as well I think). He found a tennant for the 3 bedder pretty quickly to. So the bank (big 4 high st) was happy to lend to them. This was over this summer to.

Oh yes, forgot to mention that the 4 bedder he bought was a repo!

Edited by newbonic

Share this post


Link to post
Share on other sites

There are mortgages for people with low LTV's or for BTL. As a self-employed I can get a BTL mortgage at the drop of a hat, but need good proof of income to get a PPR mortgage.

Interesting times. This should be named the 'Houses are getting cheap' thread as it seems some of the posters feel that a quarter mill in one of gods waiting rooms is a good buy. This makes half a mill anywhere commuting distance from London a steal.

Share this post


Link to post
Share on other sites

Yes, inside must be a problem! (So they are not letting you see it!) What about this one GloomMonger .... if you like being by the sea?

http://www.rightmove.co.uk/property-for-sale/property-17322786.html

It looks like a decent enough 4 bedroom detached house at £198,950. Good for retirement, as within walking distance to all amenities. It just needs gutting and a massive make over?

It says it is new to market, but I know for sure this is a re-advertisement situation ... to get round the property bee history? (It has definitely been on the market for a while ... but I can't recall at what price.)

Must say I quite fancy this one myself, as I know & like the area, but there's just so much work to do on it.

I like it, Lick of paint and open Guest House Paradiso...

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.