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interestrateripoff

A Tale Of Our 2 Neighbours - Both Houses Up For Sale

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Both houses next door to us have been put up for sale, one has been up for around a year, although it has had the sold sign on.

The wife was talking to the neighbour today and it appears they are pulling it off the market, the other house they had agreed to buy the vendor has had there house fall through so now they've decided to take theirs off the market. The last time the wife talked to them about it the house was all set to go through and they would be off around Christmas, this was just before the school holidays.

So in well over 12 months next door have failed to sell up and move.

Now our other next door neighbours have put theirs up for sale and at a higher price to our other neighbours as they have an "executive home" (yes one with no off street parking) and it went up for I think about £25k more than our other neighbours. Even better they have already bought there next "dream" home at auction for I think around £450k so they really need to sell to pay for the renovations at the new property, renovations that they have already started because they can't move into it yet. This was a spontaneous decision as they had gone to buy an "investment" at auction but instead purchased a home once they saw it. Their house has been up for around 8 weeks and they haven't had any viewings or interest the last time the wife asked.

My view is they'll end up having to rent the property as I really can't see it selling. Or even worse they've took too big a gamble and will lose everything.

When I first moved into the current house anything on our street was selling within 6-8 weeks.

Still with the economy recovering I'm sure this is a minor blip.

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What are the first two letters of your postcode? Be interesting if we can compare tales of a stagnant market around the Country.

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Are you taking it personally? :D

On that front it gets worse when we moved in the 1st lot of neighbours moved out after 6 months or so!!! Ironically for a house they bought at auction. Perhaps its something with that house? :lol::lol:

Edited by interestrateripoff

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I can think of one other family in the same boat as the second family you describe.

They bought and completely renovated a wreck before selling the first 5 bed detached.

Tried to sell it for a few months, couldn't and so they've rented it out for £1500 a month.

Really is no big deal.

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I've had another thought about the one's who've just bought at auction I seem to remember when they moved in they had a flat which I think they rented out. I have no idea if they have sold it since, but it could be they actually own 3 properties currently.

From what they have said to the wife they have pushed themselves to the limit in buying.

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That second house story is a disaster in progress. Sit back, enjoy the popcorn.

I suggest regular enquiries as to how things are going with lots of knowing, sympathetic nods and "Mmmms..."

Our neighbours recently put their house up for sale.

They put it on for the same price as the house that we are renting failed to sell for in the autumn of 2008 before the LL decided to rent it out.

The major problem with the plan is that their house is half the size :lol:

The are ok people so I dont converse about it but I do talk freely on the phone in my garden so am sure they know what I think. :)

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There's been something of a surge of failed-to-sell lettings in my area (B75) too. So much so that the excess supply has started pushing rents down again. It really is 2008/9 all over again.

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There's been something of a surge of failed-to-sell lettings in my area (B75) too. So much so that the excess supply has started pushing rents down again. It really is 2008/9 all over again.

I hope this spreads! Although rental supply here in Essex is increasing with failed sales the demand has much outstripped supply in family homes. Friends being trying to rent here for a few months but as they come to Market they are let. They have to do group viewings of up to 8 over couples and the land lord just chooses who he likes best.

Although, small flats 1 and 2 bed and large houses over about £1400 PCM don't do very well. It's only 3 bed family homes where the demand is.

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Two houses down my street are up for sale. Both almost identical. Next door to each other semi detached bungalows. On came on the Market some time last year for £209,000. Gradually reduced to £190,000. The second came on a few months ago for.... £209,000! Are these people just totally blind? Would you not question the agent why the house next door can't sell for £20,000 less. and the best thing about story is they are both with the same agent!

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Two houses down my street are up for sale. Both almost identical. Next door to each other semi detached bungalows. On came on the Market some time last year for £209,000. Gradually reduced to £190,000. The second came on a few months ago for.... £209,000! Are these people just totally blind? Would you not question the agent why the house next door can't sell for £20,000 less. and the best thing about story is they are both with the same agent!

Has the first one sold at £190K? If so, does the seller of the second know what price it fetched? Most vendors don't even know you can check sold prices (yes!).

My guess is that the asking price of the second house is based solely on a memory of the intital asking price of the first. Sellers aren't rational, nor do many do research. All they then need is an EA willing to 'fly an overpriced kite' for a couple of months before eventually getting down to actual market worth.

The whole idiotic process just wastes everyone's time.

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Has the first one sold at £190K? If so, does the seller of the second know what price it fetched? Most vendors don't even know you can check sold prices (yes!).

My guess is that the asking price of the second house is based solely on a memory of the intital asking price of the first. Sellers aren't rational, nor do many do research. All they then need is an EA willing to 'fly an overpriced kite' for a couple of months before eventually getting down to actual market worth.

The whole idiotic process just wastes everyone's time.

No it hasn't sold. I can't see how they wouldn't know as next door has a for sale sign up from the same agent as they do. It's a simple case of over valuing to secure the listing and a idiot vendor.

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Both houses next door to us have been put up for sale

What have you done? :blink:

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Two houses down my street are up for sale. Both almost identical. Next door to each other semi detached bungalows.

One of the more odd aspects of the housing market is this tendency for houses to come onto the market in little localised 'clusters'- I have no idea why- but more often than chance should allow instead of the single isolated house for sale you might expect to see you will find these little groups of two, three or four houses on the same street all on the market at the same time.

I can only guess that it's some kind 'herd instinct' whereby when people see a neighbour selling up they are driven to do the same- maybe on some level it's the ultimate 'keeping up with Jones's- if they are moving I'll do the same!?

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One of the more odd aspects of the housing market is this tendency for houses to come onto the market in little localised 'clusters'- I have no idea why- but more often than chance should allow instead of the single isolated house for sale you might expect to see you will find these little groups of two, three or four houses on the same street all on the market at the same time.

I can only guess that it's some kind 'herd instinct' whereby when people see a neighbour selling up they are driven to do the same- maybe on some level it's the ultimate 'keeping up with Jones's- if they are moving I'll do the same!?

My grandparents have just put their house up. The nextdoor neighbours have now done the same - about two weeks later.

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This kind of bunching goes on in my area. In one street of 40 terraced houses, five came on the market within weeks of each other this time last year. Eventually all the signs came down. Only one sale appeared on the usual websites - that had been the home of an old lady and needed renovation, apparently. Anyway, that was back on sale within months - and then to let - and then the 'let by' sign appeared. One other was let out (I know that because the family who rented it are aquaintances). I presume the others were just taken off the market.

Anyway, earlier this year the family I know bought elsewhere. So back up went the 'for sale' sign - to be joined by signs on two of the other houses which had been up for sale this time last year. Then two more went up for sale. The one this family had rented and one other house sprouted 'sold' signs (in April, according to Property Bee, but the signs are still there). They're only a few doors from each other, and lo and behold when I walked down there yesterday yet another 'for sale' sign had appeared between the two of them!

This in addition to a sign on the side of another house whose front door is in the street going across the top of this one at right angles - on the market since January, according to PB. I turned round at the bottom of the street and laughed out loud - the signs looked like Jubilee bunting!

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One of the more odd aspects of the housing market is this tendency for houses to come onto the market in little localised 'clusters'- I have no idea why- but more often than chance should allow instead of the single isolated house for sale you might expect to see you will find these little groups of two, three or four houses on the same street all on the market at the same time.

I can only guess that it's some kind 'herd instinct' whereby when people see a neighbour selling up they are driven to do the same- maybe on some level it's the ultimate 'keeping up with Jones's- if they are moving I'll do the same!?

could be that mad Vinny Jones has roughed a few of his neighbours up.

nothing like a problem family to get people moving.

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could be that mad Vinny Jones has roughed a few of his neighbours up.

nothing like a problem family to get people moving.

I'm sure that's part of it- but often these 'clusters' are not direct neighbours, just in the same street. Maybe it's all those people who have thought about moving for years but did nothing about it until they see another house in their street up for sale and it triggers them off.

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  • 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%



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