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Golden Shower

I'm Viewing Today

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Out of morbid fascination I am viewing three properties today in order to guage the market (and possibly spread the bearishness). All are in villages in North Yorkshire and all have been on the market for some time. Here's a run down;

Property # 1

Asking price £155k. Lovely village and recently renovated. The developer (must be a Sarah Beeny wannabe), bought earlier in the year for about £125k and been trying to sell it for months. I like this one, but any offer I put in would be below his original buying price. By the time this chump sells it, I will be surprised if he makes anything at all on it.

Property # 2

Asking price £137.5k. Another good location and really nice house. Still wildly overvalued and can't sell after months and several agents. They won't be happy to get an offer from me! :lol: Anyway, I know from Rightmove that they bought for £82k. The scope for blaggage is imense for this property.

Property # 3

Asking price £127k. Good location and nice house. This is a really odd one, Rightmove actually put the purchase price at £147k!!! :blink: So even before they have an offer (on a house that has been on the market for ages) they've lost £20k. That's a real hit, they will not be pleased if they get an offer from me.

Of course you can never tell until you see the property, but today will be interesting for me as I really on have only looked at new builds. Having run through the sums, property is still expensive here and it's gonna take something really special to get me to buy at this point.

Today should humour me and placate my girlfriend a bit.

;)

Quick edit: It's a good feeling coming into this from a position of strength. Keep saving up kids, the pickings will be there for us.

Edited by Golden Shower

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You will, of course, view all 3 properties, scratch your chin and offer 60% of the asking price on each of them. The agents are obliged to inform the vendor of any offers. When they come back and say 'You must be joking', just chuckle and say 'No, I think I'll leave it, thanks.'

;)

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Another HPCer playing with fire.

If you're that down on the market why waste time going to viewings. Surely there are more fun ways to spend your time?

The danger is that you see somewhere and consider it a bargain. It wont be a bargain in a year's time.

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I can sort of understand e-bay baiting, after all it`s just harmless fun for some, but these vendors are real people who presumably will take time and effort out to let you view. For every chancer, and there are a few, there will be the innocents that have just bought at the wrong time. Cancel your viewing unless you`re serious, let`s not forget you are adding fuel to Hometrack`s stats. 0ne more new registrant across 2-3 different agents ;)

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DD/CL,

Thanks. In a way I have to see exactly what sort of value the market is at the moment. May also persuade the girlfriend that unless you get a fantastic deal, there is no value in the market. It will also serve as a useful guage of a section of my local market.

Regarding plumping the stats up. It's a bit meaningless, the only thing that really matters is sales and the value of those sales.

I'll let you know how it goes.

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DD/CL,

Thanks. In a way I have to see exactly what sort of value the market is at the moment. May also persuade the girlfriend that unless you get a fantastic deal, there is no value in the market. It will also serve as a useful guage of a section of my local market.

Regarding plumping the stats up. It's a bit meaningless, the only thing that really matters is sales and the value of those sales.

I'll let you know how it goes.

Cool, I`ve been on the other side in the past, Ilford 10-11 years ago, we had a touch of negative equity. We`d get the place like a new pin, some wouldn`t show, some would make derisory offers....Question to ask yourself is if you did get a fantastic deal, would you take it? That kinda seperates things for most. As for the stats, I`m sure you knew that was tounge in cheek!

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Quick update:

Viewed property # 2 first. OK, really nice downstairs but you couldn't really swing a cat upstairs. Talk about desperate house sellers, "Make an offer. Hopefully you won't like the others". As it happened she was selling and moving into rented accomodation, with the hope she and her partners could relocate....

She said that she would renovate the property more if no one offered in the next 4 weeks. Which doesn't really tally with them wanting to move.

Hmmm, I smell an STR!!!

:lol:

Left the house in full on bear mode.

Next on the list was property # 3. Again, a decent house with large rooms and cheaper than the last. Needed a bit of TLC, but the missus wasn't impressed. The EA, OMG what a tw*t, forgot the keys not very communicative and probably sensed we were testing the market. Can't be bothered with him or the property.

It's all systems go, then. Bearish mode for me and I've persuaded the missus that there is no value what-so-ever in the current market.

Property # 1. In the words of Homer (Simpson), "Doh!". Missus loved it (consequently heart broken), EA was a cool down the line chap and I admit the developer did a really good job. If it wasn't so damn expensive it would be the go (even though were on a decent joint wage for our area).

Having said that the EA said the developer was open to offers as chains have broken before. The EA reckoned SIPPS was really gonna boost the market.

We'll see what SIPPS does. I'm still going to hold off and save more money. But it has been a useful day, it's one thing checking Rightmove but until you can actually see a property and how much vendors want to sell it for, you won't realise how loopy prices are.

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Thanks for the update

Me and the wife have agreed the same as you

The amount we would save anyway will offset any time lost in rent money as opposed to depreciation on piss poor housing

realism is a hard thing for everyone with vested interests to accept at the moment

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  • 301 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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