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tc9604

Can't Sell? Wait And Put The Price Up

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Back in January 2012 I was quite interested in a house in the north of Cambridge, a 30s semi which someone had neglected for a good few decades before presumably dying in it. It needed complete renovation, electrics, central heating and a small rear extension rebuilding, but would have made a lovely 3 bed house with parking, big garden and close to work.

Anyhow, I went to take a look. Also looking were a couple of developers and a bored yummy mummy who completely failed to grasp the amount of work involved (couldn't understand why a 30s property wouldn't have had an en-suite shower, more concerned about having to change the wallpaper than the rotting windows and crumbling ceiling).

An identical house on the same street which had just been completely renovated was on for £250k which made the asking price of this one of £230k sound steep. When I got the EAs follow up call I sounded her out about £210k and she said she'd had better offers, so I left it.

A week later I got another call, was I still interested at that sort of price? I politely declined. Well it never sold, until I checked this week to find they'd sat on it for 10 months and offloaded it for... £244k!

I'm looking forward to seeing what the new owners will be asking after they've done it up

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and a bored yummy mummy who completely failed to grasp the amount of work involved (couldn't understand why a 30s property wouldn't have had an en-suite shower, more concerned about having to change the wallpaper than the rotting windows and crumbling ceiling).

:blink: Oh dear *shakes head* She sounds like the perfect candidate for Sarah beeny's old Property Ladder show! :lol:

One small unmodernised bungalow I had an eye on was up for salw for a hefty £109,950. Went SSTC in March but a week ago it has returned to the market with an asking price of an unfathomable £115k. :(

Not just this bungalow, asking prices for homes in Norwich seem to be going upwards just recently. I wonder if this publicity about Osborne's ticking timebomb 'Help to Buy' scheme is having a knock on affect on upping asking prices on older homes? :angry:

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Bump!  ^_^

This flat has been on the market for nearly 3 months now. Asking price has just 'yo-yo-ed' by £5,000 to OIEO £135k:

Quote
10/09/2017, 17:21:40
  • Price changed: Offers in Excess of £130,000 £135,000
22/07/2017, 20:36:34
  • Price changed: Offers in Excess of £135,000 £130,000
26/06/2017, 20:01:01
  • Price found: Offers in Excess of £135,000

I assume that the vendor has been looking at asking prices of similar flats currently on the market. Plenty up for sale in this style. S/he doesn't quite seem to comprehend that actually sold prices is a better benchmark. :rolleyes:

I think the Estate Agent should have had the balls to refuse to increase the asking price if they think they have no hope in hell in selling the lease at that price. They should remove these chancers from their lists.

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  • 238 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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