deflation Posted October 30, 2012 Share Posted October 30, 2012 Stockton could be home to Britain's cheapest house when a three-bedroom property goes under the auctioneer's hammer with a starting price of £750. A second house on the same street, which has had problems with anti-social behaviour, is available for £1,000. http://www.bbc.co.uk/news/uk-england-tees-20135248 If you could get a house for £1000, maybe leave it as it is until it goes up? Some people pay that for a set of tyres for their car. Quote Link to comment Share on other sites More sharing options...
Squeeky Posted October 30, 2012 Share Posted October 30, 2012 (edited) I'm not sure you getting much of a house. It has some land and 4? walls, but that is about it. Interesting where they are laying the blame for the demise: "It all changed about six or seven years ago; the street stopped being about families, and the houses were sold on to landlords who didn't care about the area." *edited to add... maybe this could be coming to your street soon? Edited October 30, 2012 by Squeeky Quote Link to comment Share on other sites More sharing options...
Downside Posted October 30, 2012 Share Posted October 30, 2012 No doubt it will be bought by some canny invester who has never even seen the property who will then fix it up and try to rent it out for huge profits. Then go crying to the newspaper when it all goes wrong and how everyone is to blame but themself. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted October 30, 2012 Share Posted October 30, 2012 No doubt it will be bought by some canny invester who has never even seen the property who will then fix it up and try to rent it out for huge profits. Pretty hard to make a loss. Quote Link to comment Share on other sites More sharing options...
Biggus Posted October 30, 2012 Share Posted October 30, 2012 Pretty hard to make a loss. It's easy to make a loss on low end houses. Nobody who has any choice will to live there, so you are stuck with the worst possible tenants. Housing benefit, which they will definitely be on, is paid direct to the tenant. You can be assured they will keep it and spend it on smack. You will need to pay a fortune in legal fees to have them evicted. By that time the heating, wiring and plumbing will have been ripped out and sold for scrap. By the sounds of it they burn the place down for a laugh. If you want to actually live there you need to be prepared to deal with gangs of idiots hanging around all night, attempted burglarys and so on. There is a reason slum housing is cheap. Be assured, 'canny' investors have already attempted to use them as a get rich quick scheme. I expect a few more suckers will need to get fleeced on this type of house before this starts to sink in, though. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted October 30, 2012 Share Posted October 30, 2012 What such streets needis buyers who do care. Whether bohemian types who 'fit in' but at the same time improve the place by setting a (relatively) positive example, or no-nonsense developers who buy up a whole street and employ heavies until both the blight and the houses are gone and replaced with something saleable. The latter would of course come up against some granny who's lived there 80 years and has no intention of selling up to some nasty developer. Quote Link to comment Share on other sites More sharing options...
The Eagle Posted October 30, 2012 Share Posted October 30, 2012 The street has more than 50 houses on it, 25% of which are currently empty, according to Stockton Council.The resident said: "It used to be like the suburbs, it was out of the way, we even had a Neighbourhood Watch scheme. "It all changed about six or seven years ago; the street stopped being about families, and the houses were sold on to landlords who didn't care about the area." I'm surprised the BBC print this comment of this resident, as it reveals that buy-to-letters (and indirectly banksters for financing them) are to blame for the rapid degrading of the area. Quote Link to comment Share on other sites More sharing options...
juvenal Posted October 30, 2012 Share Posted October 30, 2012 I'm surprised the BBC print this comment of this resident, as it reveals that buy-to-letters (and indirectly banksters for financing them) are to blame for the rapid degrading of the area. This blame on buy-to-letters was reiterated by a presenter interviewing the local EA on R5 tonight. The downside was they mentioned how much money was to be made in BTL about three times... Quote Link to comment Share on other sites More sharing options...
happy_renting Posted October 30, 2012 Share Posted October 30, 2012 (edited) Looking on Google Streetview, there were several (about 7) boarded-up houses in Limetrees Close. The street has more than 50 houses on it, 25% of which are currently empty, according to Stockton Council. The area in 2009. Note that nos.13 and 14 (I think), also boarded up (on the right of the picture, have no roof. Arsonists struck some houses in the close in 2007, deliberately trapping some dogs in them. I'm ot sure if these are nos. 13 and 14. This is how nos. 12 & 11 looked at the time of Google Streetview in 2009: No 12 is the one for sale. No.11 is to the left. Since then, there has been a fire in no 11 in which a man died. No 11 has been refurbished and is now occupied. The back of No. 12: A comment in the DM article of 1st October: "limetrees close is known for arson attacks its a shame on the decent people who live on estate .i see number 11 has been sold and new people moved in .number 12 should have been demolished as that is where my son died due to a fire being started in number11 .i know he should not have been in this empty property .i have always said he did not start that fire someone else did .wether they knew he was in next door i dont know but that is something they will have to live with .maybe someone will tell the truth,pull this house down and give the people next door a nice big garden r.i.p. - Val Scott , newcastle upon tyne, United Kingdom, 02/10/2012 17:40" Average Property Selling Prices in TS2 (£000's): As the house has been gutted, it may cost more than the place is worth to make it habitable. SOLD prices in the area - from Land registry - there seems to be a high turnover of properties (failed BTLs?) 2012-06-21 51, Limetrees Close, £16,500 2011-09-30 11, Limetrees Close, £19,500 2011-07-28 11, Limetrees Close, £13,500 2010-10-14 17, Limetrees Close, £16,000 2010-05-28 7, Limetrees Close, £37,000 2009-07-17 4, Limetrees Close, £33,500 2009-07-16 23, Limetrees Close, £22,000 2009-03-13 17, Limetrees Close, £11,500 2008-07-18 32, Limetrees Close, £45,500 2008-05-30 19, Limetrees Close, £24,300 2007-08-10 25, Limetrees Close, £30,000 2007-08-10 25, Limetrees Close, £45,000 2007-07-20 53, Limetrees Close, £57,000 2007-05-23 45, Limetrees Close, £51,500 2007-03-14 15, Limetrees Close, £36,000 2007-03-02 27, Limetrees Close, £42,500 2007-01-04 18, Limetrees Close, £40,000 2006-12-12 45, Limetrees Close, £47,000 2006-11-03 28, Limetrees Close, £50,000 2006-10-23 26, Limetrees Close, £39,000 2006-10-06 47, Limetrees Close, £41,000 2006-08-18 43, Limetrees Close, £27,000 2006-08-08 15, Limetrees Close, £32,500 2006-07-10 45, Limetrees Close, £50,000 2006-06-23 30, Limetrees Close, £47,000 2006-06-20 56, Limetrees Close, £50,000 2006-03-23 31, Limetrees Close, £56,000 2006-01-26 10, Limetrees Close, £50,000 2006-01-26 14, Limetrees Close, £50,000 2005-12-21 18, Limetrees Close, £25,000 2005-09-30 16, Limetrees Close, £31,000 2005-09-30 24, Limetrees Close, £27,000 2005-08-31 29, Limetrees Close, £44,950 2005-08-04 39, Limetrees Close, £40,250 2005-04-19 20, Limetrees Close, £45,000 2005-04-13 54, Limetrees Close, £36,000 2005-04-13 53, Limetrees Close, £36,000 2005-04-13 51, Limetrees Close, £35,000 2005-04-13 35, Limetrees Close, £36,000 2005-04-13 50, Limetrees Close, £35,000 2005-04-13 33, Limetrees Close, £36,000 2005-04-13 37, Limetrees Close, £35,000 2004-12-20 28, Limetrees Close, £42,500 2004-12-20 15, Limetrees Close, £39,000 Edited October 30, 2012 by happy_renting Quote Link to comment Share on other sites More sharing options...
OnionTerror Posted October 30, 2012 Share Posted October 30, 2012 House was "sold" for 750 quid, with no bids? http://www.greatnorthpropertyauction.co.uk/ Quote Link to comment Share on other sites More sharing options...
happy_renting Posted October 30, 2012 Share Posted October 30, 2012 House was "sold" for 750 quid, with no bids? http://www.greatnorthpropertyauction.co.uk/ According to the auction results, no.12 did not sell. Nor did no.42 (reserve, £1000) No 42 was apparently habitable. So, despite countrywide publicity, £1000 is too much for a habitable house in the UK. In that area, anyway. Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted October 30, 2012 Share Posted October 30, 2012 According to the auction results, no.12 did not sell. Nor did no.42 (reserve, £1000) No 42 was apparently habitable. So, despite countrywide publicity, £1000 is too much for a habitable house in the UK. In that area, anyway. Dang. I never bother with these types of things, especially those with publicity. I could have bought that for myself! Must have to have a go soon eh! Quote Link to comment Share on other sites More sharing options...
happy_renting Posted October 30, 2012 Share Posted October 30, 2012 Dang. I never bother with these types of things, especially those with publicity. I could have bought that for myself! Must have to have a go soon eh! You still can, it didn't sell. You will also need an asbestos suit, a fire extinguisher, and a shotgun. Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted October 30, 2012 Share Posted October 30, 2012 You still can, it didn't sell. You will also need an asbestos suit, a fire extinguisher, and a shotgun. Can get hold of 'azzy' suits, quite a lot of the mates used to do it, I never managed to get set on because I was too young at the time. I don't care whether it's white, blue or brown azzy to be honest, can get rid of them all - the key is not to disturb it, azzy is a brilliant material for building if you ask me, shame about retards that drill into it and what not!. And with regards to rough areas, I have lived in a few, once I've had a smoke with the lads, things should be well. The reserve was £1k? I can stump that. Quote Link to comment Share on other sites More sharing options...
happy_renting Posted October 30, 2012 Share Posted October 30, 2012 Can get hold of 'azzy' suits, quite a lot of the mates used to do it, I never managed to get set on because I was too young at the time. I don't care whether it's white, blue or brown azzy to be honest, can get rid of them all - the key is not to disturb it, azzy is a brilliant material for building if you ask me, shame about retards that drill into it and what not!. And with regards to rough areas, I have lived in a few, once I've had a smoke with the lads, things should be well. The reserve was £1k? I can stump that. I don't mean a suit to protect you from asbestos. I mean a suit MADE of asbestos. Quote Link to comment Share on other sites More sharing options...
happy_renting Posted October 31, 2012 Share Posted October 31, 2012 Odd, the Agent's website had a PDF of auction results saying the property was 'available', yet the BBC says there was bidding and it finally sold for £14k. As it is gutted, with no kitchen or electricals, andpossibly fire-damaged, I doubt the new owner is going to make a killing. Quote Link to comment Share on other sites More sharing options...
deflation Posted October 31, 2012 Author Share Posted October 31, 2012 (edited) Odd, the Agent's website had a PDF of auction results saying the property was 'available', yet the BBC says there was bidding and it finally sold for £14k. As it is gutted, with no kitchen or electricals, andpossibly fire-damaged, I doubt the new owner is going to make a killing. http://www.bbc.co.uk/news/uk-england-tees-20135248 It seems there were a few on that road up for auction. The photo is different to the one used yesterday. Edited October 31, 2012 by deflation Quote Link to comment Share on other sites More sharing options...
cool_hand Posted October 31, 2012 Share Posted October 31, 2012 But a surge in interest saw its value reach £14,000 when it was bought on Tuesday evening. What a piece of crap. Quote Link to comment Share on other sites More sharing options...
juvenal Posted October 31, 2012 Share Posted October 31, 2012 http://www.bbc.co.uk/news/uk-england-tees-20135248 Quote Link to comment Share on other sites More sharing options...
awaytogo Posted November 1, 2012 Share Posted November 1, 2012 No doubt it will be bought by some canny invester who has never even seen the property who will then fix it up and try to rent it out for huge profits. / They will have the copper pipe out as soon as t is put in, Why do you think it is being sold, BECAUSE they cannot rent it Quote Link to comment Share on other sites More sharing options...
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