Mrs Bear Posted October 8, 2011 Share Posted October 8, 2011 Same road, different house... Wreck in Silhill Hall Road This one is a 1930's house which has just come up at a very "reasonable" £499,950. Well it would be if the place wasn't falling down! Went to view it today and it's a lovely old place, i'd even go as far as saying it would be my ideal home with great layout and good sized rooms. Only problem is the place has been neglected and doesn't appear to have had any updates since it was built (still has fires and sinks in all bedrooms). It has structural issues, subsidence, damaged drains, damp, rot, etc. The place would need completely gutting. Not to mention a JCB and a team of chainsaw monkeys to clear the forrest that was once a back garden. My back of a fag packet guesstimate is £250K-£300K to put everything right and refurbish. EA was claiming they were getting in offers close to asking price. Well if they are, the mugs are welcome to it. Half a million? FFS !!! I will watch with interest to see what it actually does sell for. I said it when I started this thread and i'll say it again.... HOUSE PRICE CRASH MY AR5E ! Edit to say - Similar houses which have been extended and refurbished have sold or are are currently up for sale for between £600 and £765K. Add £250 for a refurb and £750K would be about right, then - at current daft prices. Big plot, large, impressive-looking house with room for extensions, lovely road - fact is anything like that so often does sell at a premium. Sadly it's the nothing-very-specials that will be going cheap - if anything is going cheap. Still you never know - someone might buy it, start doing it up and run out of money, after which it'll go to auction, and an epidemic of violent D&V will keep everyone but you away. Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted October 8, 2011 Share Posted October 8, 2011 Wreck in Silhill Hall Road Looking at the floorplans, I find it weird that there is only one bathroom in the place. It's clearly a house that has always belonged to someone rich. Two garages though weirder still. If it were mine, I'd prefer to demolish it and start again. Not for £500k though. Quote Link to comment Share on other sites More sharing options...
redgenieuk Posted October 8, 2011 Share Posted October 8, 2011 Whoever took that phono needs to adjust the ...... Wtf? Is that her skin?! Lol Quote Link to comment Share on other sites More sharing options...
miko Posted October 8, 2011 Share Posted October 8, 2011 Looking at the floorplans, I find it weird that there is only one bathroom in the place. It's clearly a house that has always belonged to someone rich. Two garages though weirder still. It was built in the day when lots of bathrooms were not the in thing and has not been updated since. Trawling through rightmove sometimes I look at the big houses in Chigwell Essex , the older types some with four , five and six bedrooms have very few bathrooms. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 8, 2011 Share Posted October 8, 2011 No... don't you know that poor people live in black and white, and rich people in vivid colour ? What is the B+W photo? The child in middle is using power body language already, look at the hands, and the eye contact. Quote Link to comment Share on other sites More sharing options...
Daft Boy Posted October 8, 2011 Share Posted October 8, 2011 What is the B+W photo? The child in middle is using power body language already, look at the hands, and the eye contact. That kid is going to be a rich boomer Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted October 8, 2011 Share Posted October 8, 2011 Looking at the floorplans, I find it weird that there is only one bathroom in the place. It's clearly a house that has always belonged to someone rich. Two garages though weirder still. If it were mine, I'd prefer to demolish it and start again. Not for £500k though. filthy rich ? Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 8, 2011 Share Posted October 8, 2011 That kid is going to be a rich boomer I think he turned out to be, Andrew Carnegie, Public Enemy No.1, or some politician? He is definately the alpha kid on that block. Quote Link to comment Share on other sites More sharing options...
Darkman Posted October 8, 2011 Share Posted October 8, 2011 There's some serious HDR action going on there. well spotted! Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 8, 2011 Share Posted October 8, 2011 I agree, £300k sounds about right. Nope. £30k max. Quote Link to comment Share on other sites More sharing options...
Spot Posted October 8, 2011 Author Share Posted October 8, 2011 Looking at the floorplans, I find it weird that there is only one bathroom in the place. It's clearly a house that has always belonged to someone rich. Two garages though weirder still. If it were mine, I'd prefer to demolish it and start again. Not for £500k though. Approx how much does it cost (a regular bloke who's nothing to do with the building industry) to demolish a house and build a good size 4 bedroom abode? I only ask as the rough quotes we've had to add a bedroom, bathroom and extend the kitchen have been around £120K and I thought you could build a whole house for that! Which is the reason we've started looking around (and been shocked at what expensive cr4p is out there). Quote Link to comment Share on other sites More sharing options...
Spot Posted October 9, 2011 Author Share Posted October 9, 2011 And nearly forgot..... Today I passed another local place just up for sale that looked "interesting" so pulled up to have a quick nose and seconds later by chance the owner pulls up in his car so I had quick chat. Gave me all the blurb about how it's been recently modernised and extended (6 bedrooms, 5 bathrooms, blah, blah, blah). Me - "So how much is it on for?" Hopeful Seller - "One Million Pounds". Me (trying not to laugh) - "Oh well, never mind, that's a couple of hundred thousand out of my price range". - Actually I was lying and it's way out of my price range and I don't need that much space. Hopeful Seller - "Well that's just the asking price, it's up for negotiation". So in the space of 10 seconds with no haggling on my part he's effectivley knocked £200K off the price. I am living in la-la-land. Or maybe it's just me who's insane? Nurse! Nurse! Quote Link to comment Share on other sites More sharing options...
Spot Posted October 19, 2011 Author Share Posted October 19, 2011 As we need more space we're currently deciding whether to extend or move, so as a result i've been paying attention to the houses for sale locally. Walked past this one today on the way to the park. A new build which i believe was someones garden last year. Most of the houses down this road are 4 or 5 bed detached and currently sell for between £550 - £650K (which I think is massively overpriced - I reckon £300K is more like it) and they're still selling (well a couple of sold signs are up at the moment). OK, the house in the link is 6 beds but £1,275,000 ???? The pics make the place look far bigger than it is. The house is just off the junction with an extremely busy main road, so sat in the back garden all you're going to hear is traffic noise. Everywhere around here seems to be stupid prices but i'm gobsmacked. £1,275,000 ??? They're having a laugh. I think we'll extend........... Nearly 2 months since I first posted this and I got a rightmove alert today about a "new" property. Turns out it's this place again but now they've dropped the price by £80,000. £80,000 in 2 months? At this rate it should be at a sensible price in about 2 years Quote Link to comment Share on other sites More sharing options...
Spot Posted May 18, 2012 Author Share Posted May 18, 2012 Down, down, deeper on down..... As the "Quo" used to sing..... I continue to watch this overpriced property for a laugh just to see how low it will go. It's now down £295,000 in 9 months to a mere £1,000,000. Bargain-tastic! Not. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted May 18, 2012 Share Posted May 18, 2012 I continue to watch this overpriced property for a laugh just to see how low it will go. It's now down £295,000 in 9 months to a mere £1,000,000. Bargain-tastic! Not. It's very nice though. I'd like to see more houses in the UK built in that style. Quote Link to comment Share on other sites More sharing options...
Chuffy Chuffnell Posted May 18, 2012 Share Posted May 18, 2012 I'm not too keen on the house, but the garden seems pleasant enough. Hang on: thought this was in London... who the fvck buys million-pound houses in the suburbs of Birmingham?!! Quote Link to comment Share on other sites More sharing options...
Spot Posted May 18, 2012 Author Share Posted May 18, 2012 I'm not too keen on the house, but the garden seems pleasant enough. Hang on: thought this was in London... who the fvck buys million-pound houses in the suburbs of Birmingham?!! Give Sir Chuffy a cigar! So.... How low do you think it'll go before it finally sells? There's enough people around here with more money (debt?) than sense that I reckon it'd shift today if it was £750,000. In a few months time though........? Quote Link to comment Share on other sites More sharing options...
ScrewsNutsandBolts Posted May 18, 2012 Share Posted May 18, 2012 (edited) Peak price for the road is 685K. The plot for this place really isn't that big, so I don't see it selling for much over peak even with the flash new-money interior and good square-footage. Satellite View of Plot Currently a 6 bed on rightmove at 685K. Rightmove Link But kite flying seems popular on the street. Rightmove Link 2 Asking 600K Bought 2008 for 490K Edit: and just to add for the last one, Halifax HPI states a regional drop of around 10% between 2008 and now, so market value should be around 440K. Edited May 18, 2012 by ScrewsNutsandBolts Quote Link to comment Share on other sites More sharing options...
Spot Posted May 18, 2012 Author Share Posted May 18, 2012 Peak price for the road is 685K. The plot for this place really isn't that big, so I don't see it selling for much over peak even with the flash new-money interior and good square-footage. Satellite View of Plot Currently a 6 bed on rightmove at 685K. Rightmove Link But kite flying seems popular on the street. Rightmove Link 2 Asking 600K Bought 2008 for 490K Edit: and just to add for the last one, Halifax HPI states a regional drop of around 10% between 2008 and now, so market value should be around 440K. There's a lovely house down that street I went to look at last year. It was a total wreck with damp and subsidence issues. Looked like someone had bought it new in 1930 and then done fek all with it until they died. The whole interior needed gutting. Back garden was a jungle with some seriously tall trees in it that would need removing. But at the right price it had potential. It was advertised at £500,000 and sold for £480,000. I think they paid about £280,000 too much for it. I walk past it everyday on the way to work so can see how work is progressing and they've converted the loft into an extra bedroom and are fixing up the rest of the place. If someone has bought it to do it up and flip it I really can't see how they're going to make a profit on it unless they're using slave labour...... If it's been bought by a "normal" person who wants it as their home then again they're possibly not making the best use of their money as similar houses with seriously large extensions have gone for about £650,000 and they could easily blow the difference and a lot more doing it up. I'm really curious to see what happens. Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted May 18, 2012 Share Posted May 18, 2012 I'm not too keen on the house, but the garden seems pleasant enough. Hang on: thought this was in London... who the fvck buys million-pound houses in the suburbs of Birmingham?!! That one is definitely overpriced, but it always was relatively expensive there. I've said this before on here but aeons ago my (broke) family lived in that road. They had moved from Surrey for my father's job and my mother was incensed when a local EA said sniffily, 'You're nobody here unless you've got three cars and a horse.' Please note, this was in the late l950s. Quote Link to comment Share on other sites More sharing options...
Spot Posted June 14, 2012 Author Share Posted June 14, 2012 I'm starting to see more signs of a downward movement..... Rightmove alerted me to some "new" properties today in my local area (Central Solihull). All are 4 or 5 bedroom detached. Turns out they're not new but just re-priced. Lowest had a mere £20,000 off. Highest had a whopping £125,000 off (from £625,000 to £500,000) and this is only since February that this property was listed. Could this be the start of something? Quote Link to comment Share on other sites More sharing options...
JB1981 Posted June 14, 2012 Share Posted June 14, 2012 Well in Sutton Surrey what I have noticed that flats are falling in price. My own experience was I sold my flat in December 2011 for exactly what I paid for it in October 2005 (I was lucky). This was after a year on the market and two sales falling through. I had lowered the asking price by 6% in that time and followed the agent's advice at every step. However one flat very similar to mine in the same block sold for 15% at the height of the boom in July 2007. Also, terraced houses in busy roads or in run-down areas of Sutton have also fallen in price or are taking a long time to sell. However decent size houses, especially the traditional 1930s built 3-bed semis with decent size gardens down quiet roads or cul-de-sacs, are more than holding their own and are selling for around the 2007 peak, sometimes higher. This especially goes for both houses which need modernisation. Houses that are fully updated if anything have slightly fallen from the peak levels seen in 2007. Quote Link to comment Share on other sites More sharing options...
Spot Posted May 2, 2013 Author Share Posted May 2, 2013 Hahahaha! It's still for sale. Now down to £975,000. That's a £300,000 drop in just under 2 years. And it's still way overpriced! Quote Link to comment Share on other sites More sharing options...
Stop The Ride Posted May 2, 2013 Share Posted May 2, 2013 Hahahaha! It's still for sale. Now down to £975,000. That's a £300,000 drop in just under 2 years. And it's still way overpriced! We are all living in the gutter. But some of us are looking in the bins. Quote Link to comment Share on other sites More sharing options...
Guest unfunded_liability Posted May 3, 2013 Share Posted May 3, 2013 Hahahaha! It's still for sale. Now down to £975,000. That's a £300,000 drop in just under 2 years. And it's still way overpriced! Fabulous house. Never been to the area, what would be a fair price for it? Quote Link to comment Share on other sites More sharing options...
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