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

Interesting Chat With Ea

Recommended Posts

Had a viewing this week of a property which needs quite a lot of work on at 300k. I happened to say that I was surprised a builder/developer had not already bought it as it's quite a good address in FY8. EA said oh a builder would currently only offer 200k for this and really nothing much over 200k is selling right now. Builders/developers are going for the cheap end of the market to either do up or as btl. Well that explained another thing to me as currently Entwistle Green are having a promotion called The Big September Move. Anyone who reduces their asking price can be involved and although their open houses are this weekend (17/9) last weekend 13 of their properties went under offer. I was pretty shocked/amazed by this, but having searched through them the bulk of them are at the cheap end, eg flats/terraces just around 100k. This fits in with the idea that the btlers are going for cheap stuff.

The most interesting thing the EA told me though was about surveyors. They sold a house at the peak of 2006 (yes she called it that!) and the guy decided to sell this year and of course against their advise wanted to ask even higher than he paid. Within 2 weeks he was offered what he wanted. Anyway the surveyor came out and said they now had to value it using similar local properties which sold in the last 6 months, so the sale never happened and the guy took it off the market.

This made me quite happy as finally the odd cheaper house that I missed out on may now help me in the future. I offered 250k on a house where 2 similar nearby recently sold for that and was turned down by a very disappointed vendor, but the EA said it was a fair offer. I feel quite vindicated in my judgement now and hope said vendor will come round eventually!!!

Share this post


Link to post
Share on other sites

Had a viewing this week of a property which needs quite a lot of work on at 300k. I happened to say that I was surprised a builder/developer had not already bought it as it's quite a good address in FY8. EA said oh a builder would currently only offer 200k for this and really nothing much over 200k is selling right now. Builders/developers are going for the cheap end of the market to either do up or as btl. Well that explained another thing to me as currently Entwistle Green are having a promotion called The Big September Move. Anyone who reduces their asking price can be involved and although their open houses are this weekend (17/9) last weekend 13 of their properties went under offer. I was pretty shocked/amazed by this, but having searched through them the bulk of them are at the cheap end, eg flats/terraces just around 100k. This fits in with the idea that the btlers are going for cheap stuff.

The most interesting thing the EA told me though was about surveyors. They sold a house at the peak of 2006 (yes she called it that!) and the guy decided to sell this year and of course against their advise wanted to ask even higher than he paid. Within 2 weeks he was offered what he wanted. Anyway the surveyor came out and said they now had to value it using similar local properties which sold in the last 6 months, so the sale never happened and the guy took it off the market.

This made me quite happy as finally the odd cheaper house that I missed out on may now help me in the future. I offered 250k on a house where 2 similar nearby recently sold for that and was turned down by a very disappointed vendor, but the EA said it was a fair offer. I feel quite vindicated in my judgement now and hope said vendor will come round eventually!!!

Steady now! Remember homes are twice the price they were 40 years ago, relative to wages and they are definitely falling in value now. Compare to France? http://www.rightmove.co.uk/overseas-property/property-32471318.html

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.