Barnard Marcus auction results (rampers look away now)

[mowlem]

BM latest auction results. I just looked at those lots with "London" in the address.

One word. HORRENDOUS. '

IYDBM

http://www.barnardmarcusauctions.co.uk/Auction-Results.html?utm_source=Barnard+Marcus+Auction+Updates&utm_campaign=cc752df156-EMAIL_CAMPAIGN_2017_02_07&utm_medium=email&utm_term=0_49ab84f9a0-cc752df156-60188341

[ebull]

Lot 1 HA with money to burn. No discretion for auctioneer I guess. Last bid 554 and looking for 560 now ???? WTAF?

Auction + EA fees will be > 6k to put it in up for auction again.

Again and again, in that list 1-2-5% off the asking price and they're not sold. Not only London either.

Lot 17 the last bid was £176,000 and is available at £180,000

Lot 104 Rotherham the last bid was £64,500 and is available at £65,000 - we have a winner. Hanging on for the last 500?

Lot 126 BTL repo Devon - the last bid was £80,500 and is available at £82,000. That'll be an extra set of mortgage fees for the former LL. Except if he's insolvent the bank will be paying.

[ebull]

Correction. In % terms lot 127 just edges it he last bid was £119,000 and is available at £120,000.

Added to which .... GF flat with all the wonders of leasehold in an unattractive building but hey .... LLL it's near the sea. Wonder what the svc charge is.

[TheCountOfNowhere]

Percent Sold

71%

 

Is that horrendous ?

100% would be horrendous

0% Fantastic.

[TheCountOfNowhere]

Looks like the BTLers are either

 

a) Out in force

 

or

 

c) Selling off all their sh*t to the even greater fool.

[TheCountOfNowhere]

First 1

 

Unsold, the last bid was £554,000 

 

554K for that in SE London ?

 

Must have been bidding off the wall to try get some mug to buy it

[Sancho Panza]

5 hours ago, mowlem said:

BM latest auction results. I just looked at those lots with "London" in the address.

One word. HORRENDOUS. '

IYDBM

http://www.barnardmarcusauctions.co.uk/Auction-Results.html?utm_source=Barnard+Marcus+Auction+Updates&utm_campaign=cc752df156-EMAIL_CAMPAIGN_2017_02_07&utm_medium=email&utm_term=0_49ab84f9a0-cc752df156-60188341

Super find.Thank you.

[Saving For a Space Ship]

20 minutes ago, TheCountOfNowhere said:

Looks like the BTLers are either

a) Out in force

or

c) Selling off all their sh*t to the even greater fool.

 

19 minutes ago, TheCountOfNowhere said:

First 1

Unsold, the last bid was £554,000 

554K for that in SE London ?

Must have been bidding off the wall to try get some mug to buy it

 

All in all,  it's just another BTL off the Wall .....

http://www.youtube.com/watch?v=YR5ApYxkU-U

 

 

Edited February 8, 2017 by Saving For a Space Ship

[TheCountOfNowhere]

3 minutes ago, hotairmail said:

 

Do you think that is why the bidding stopped just £1k or so short of the min. price? Looks like it to me. Isn't that illegal?

 

Surprisingly not !!!!

[Venger]

3 minutes ago, hotairmail said:

Do you think that is why the bidding stopped just £1k or so short of the min. price? Looks like it to me. Isn't that illegal?

With bidding-off-the-wall and stuff, it could all be legit.

And it's a market.

[TheCountOfNowhere]

https://en.wikipedia.org/wiki/Auction

 

" In the United Kingdom this practice is legal on property auctions up to but not including the reserve price, and is also known as off-the-wall bidding.^[63] "

Hence the insane prices just below the guide.

These just below asking bids speaks volumes...no one is willing to pay near these prices.

Why this is legal is anyone's guess...

[TheCountOfNowhere]

11 minutes ago, Venger said:

With bidding-off-the-wall and stuff, it could all be legit.

And it's a market.

Like everything in pwopatee...it's a scam.

[Venger]

The bids-off-the-wall thing it's just one particular feature that it's best to be informed about (if still applies in UK property auctions) for those who would go to auction, and try and buy a house against other market participants.  If someone doesn't know, they can still bid to the level they would be happy to pay, before withdrawing.  And if they win against the off-the-wall, they still pay the price they were willing to pay.

Not everything in property is a scam.

No one is dragging anyone to auctions, estate agents, viewings - or stopping owners coming to market in a low-inventory market situation.

Not 'supreme knowledge' HPCers vs everyone else an innocent / mindless animal with no choice or responsibility.  No one knows everything.  It's a market and there are different risk profiles.  Different market views.  Different levels of income.  Different appetites for debt.   People are different.  Millions of owners sat on £Trillions in equity.  BTLers.  Not a conspiracy dude.

 

[frederico]

But you can't find the market price so no one knows where they are.

[TheCountOfNowhere]

51 minutes ago, Venger said:

The bids-off-the-wall thing it's just one particular feature that it's best to be informed about (if still applies in UK property auctions) for those who would go to auction, and try and buy a house against other market participants.  If someone doesn't know, they can still bid to the level they would be happy to pay, before withdrawing.  And if they win against the off-the-wall, they still pay the price they were willing to pay.

Not everything in property is a scam.

No one is dragging anyone to auctions, estate agents, viewings - or stopping owners coming to market in a low-inventory market situation.

Not 'supreme knowledge' HPCers vs everyone else an innocent / mindless animal with no choice or responsibility.  No one knows everything.  It's a market and there are different risk profiles.  Different market views.  Different levels of income.  Different appetites for debt.   People are different.  Millions of owners sat on £Trillions in equity.  BTLers.  Not a conspiracy dude.

 

Not a conspiracy, not, but a well orchestrated scam with millions of willing participants that are fed a line every day via the MSM and the British State Propaganda Outlet.

Willing participants, yes, being subtly coerced, definitely ?

Humans have various basic instincts, FOMO is one of them, the debt pushers are using this to sell at untenable prices.

Took me approx 1 second to find a "house" website playing on this...

[Venger]

18 minutes ago, TheCountOfNowhere said:

Not a conspiracy, not, but a well orchestrated scam with millions of willing participants that are fed a line every day via the MSM and the British State Propaganda Outlet.

Willing participants, yes, being subtly coerced, definitely ?

Humans have various basic instincts, FOMO is one of them, the debt pushers are using this to sell at untenable prices.

Took me approx 1 second to find a "house" website playing on this...

Stamp Duty paid.  Somehow I can resist as a market participant, at these asking prices.

How many more years you going to keep this up for.    It's already been so many many years, and house prices up another 50% / doubling, in an open market.  Buyers as the 'no-nothing victims'.

And if it's HPC ahead, are you going to be defending the owners and their HPI.  'They didn't know what they were doing' - and try to lobby for bailout, against millions of renters who position for better value ahead?

It's little wonder the HPIers laugh so much and pity you for your position imo.  The know-all renter superior, having seen house prices double against him, vs their mad-gainz.  

I'm out - auction results are auction results.  Market.

[TheCountOfNowhere]

31 minutes ago, Venger said:

Stamp Duty paid.  Somehow I can resist as a market participant, at these asking prices.

How many more years you going to keep this up for.    It's already been so many many years, and house prices up another 50% / doubling, in an open market.  Buyers as the 'no-nothing victims'.

And if it's HPC ahead, are you going to be defending the owners and their HPI.  'They didn't know what they were doing' - and try to lobby for bailout, against millions of renters who position for better value ahead?

It's little wonder the HPIers laugh so much and pity you for your position imo.  The know-all renter superior, having seen house prices double against him, vs their mad-gainz.  

I'm out - auction results are auction results.  Market.

" Well, according to most posters here on MSE a crasher is anyone who dares to hold the opinion that rampant, unsustainable, policy driven house price inflation isn't a particularly good thing for individuals, society as a whole or the wider economy in general.... but it's currently the only tool the government/BoE have to create an illusory economic ''feel good factor'' and give the gullible masses a false impression of being wealthy and successful due to the ever increasing paper value of their property. "

 

Funny.

 

"I'm out",

Are you buying a house Venger or are you leaving ?

I'll never give up mate.  There is no value in housing.  People are not making free choices AFAICS.  TPTB dont need to convince 100% of the peolpe to join in the madness, probably 1 in 10 is enough and the rest go along for the ride.  Easily done I'd say especially when Shelter is one of life's necessities.

The choice at the moment is, buy a horrible massively over priced house and loose out, or rent and loose out.  

Our cooker just blew up and is getting replaced, so rentings not so bad.

That thread you linked to is funny, sounds like people are having problems selling.  The people selling sound wet behind the ears, clueless almost.

 

 

Edited February 8, 2017 by TheCountOfNowhere

[TheCountOfNowhere]

15 minutes ago, Venger said:

Stamp Duty paid.  Somehow I can resist as a market participant, at these asking prices.

How many more years you going to keep this up for.    It's already been so many many years, and house prices up another 50% / doubling, in an open market.  Buyers as the 'no-nothing victims'.

And if it's HPC ahead, are you going to be defending the owners and their HPI.  'They didn't know what they were doing' - and try to lobby for bailout, against millions of renters who position for better value ahead?

It's little wonder the HPIers laugh so much and pity you for your position imo.  The know-all renter superior, having seen house prices double against him, vs their mad-gainz.  

I'm out - auction results are auction results.  Market.

 

Im still trying to fathom out if the auction results are good news ( prices collapsing ) or bad ( prices going up ).

 

[cognitive dissonance]

28 minutes ago, TheCountOfNowhere said:

"I'm out",

Are you buying a house Venger or are you leaving ?

I'll never give up mate.

 

 

Venger must be a woman as I can't understand what she's on about half the time! 

I analysed a sale in North Leeds, flat in posh area, price down £93k or 34% since last sold about 10⅝ years ago

[Venger]

1 hour ago, cognitive dissonance said:

Venger must be a woman as I can't understand what she's on about half the time! 

I analysed a sale in North Leeds, flat in posh area, price down £93k or 34% since last sold about 10⅝ years ago

Hmm; nice one!

A few of my favourite HPCers are female, and are highly intelligent.  Don't think they would take too kindly to your post and either do I.

And from that you're suggesting wider market is affordable and dandy?  

What HPC is even needed?    

What are we even complaining about in this steady low-value market?

1 hour ago, TheCountOfNowhere said:

Are you buying a house Venger or are you leaving ?

I'll never give up mate.  There is no value in housing.  People are not making free choices AFAICS.  TPTB dont need to convince 100% of the peolpe to join in the madness, probably 1 in 10 is enough and the rest go along for the ride.  Easily done I'd say especially when Shelter is one of life's necessities.

The choice at the moment is, buy a horrible massively over priced house and loose out, or rent and loose out.

There are loads of choices we can make.   You're like the chief defender of extreme HPI to me.   

The example you offered up as 'advertising allure' (with stamp duty paid) is asking prices from £1,350,000 - and you offer up innocence for buyers.  "No choice.  No options."   Own your own market decisions.  It's a market out there.   Everyone can see asking prices, and get some level of risk profile vs their own incomes and future expectations.  

My choice is to rent and hope for some house price crash/correction, from many equity rich and BTLers, and I have been on losing side of that (financially) but I take ownership of that.     You have seen house prices rise 50%/double in all the years you've been claiming homeowner innocence / media fault / don't know what they're doing, against happy HPI MSEs homeowners and BTLers laughing their heads off.    7-8 years now?

Humiliation and ridicule.  I've already got loads of that, but that's the way it is on my renter-saver side.

 

[Si1]

13 hours ago, cognitive dissonance said:

Venger must be a woman as I can't understand what she's on about half the time! 

I analysed a sale in North Leeds, flat in posh area, price down £93k or 34% since last sold about 10⅝ years ago

Flat prices were utterly laughable in Leeds in the early 2000s. A taste of what's to come for London.

[TheCountOfNowhere]

13 hours ago, Venger said:

 

My choice is to rent and hope for some house price crash/correction, from many equity rich and BTLers, and I have been on losing side of that (financially) but I take ownership of that.     You have seen house prices rise 50%/double in all the years you've been claiming homeowner innocence / media fault / don't know what they're doing, against happy HPI MSEs homeowners and BTLers laughing their heads off.    7-8 years now?

 

No Venger, 2-4 years.

Between 2007 and 2012 they were sh*ting themselves.  

They feared this website, they still do.  They really dont want to face up to facts and the truth, that's why the bankers are able to prey on them.

I suspect their laughter is short lived and the realisation how screwed the UK and they are will sink in soon.

 

Edited February 9, 2017 by TheCountOfNowhere

[TheCountOfNowhere]

Now, can anyone tell me if they think these results show anything significant ?

[Venger]

Still a choice.  

No buyers and prices would fall back.

It's soppy nonsense imo.   Buyers outbid all others in the market when they choose to buy.  They don't need excuses from people who have zero idea who is buying, what their incomes are, their savings, their market view for the future.  HPCers who always cast the buyer side always pitched as innocents with 'no choice' and being 'taken advantage of' for years of prices rising/doubling in some areas.

Other people are older and still 'get on with their lives' in rented.  Been helping out wider family this morning.  They don't buy because they believe prices are too high, and they protest the situation by not giving in to put all their savings and earnings toward a £200,000 dive house, but wait for better value ahead.  They can't do anything about those who outbid them in the open market, nor the BTL head (rental properties).  

Count, by your own standards shouldn't we be able to decide what you do in the market?   You probably don't know 'what you're doing either'.   Can we decide whether or not you are allowed to go view higher end houses £1m, and decide whether you're paying too much money if the owner still take whatever offer you are think is value for your?   If you agree, and surely you must (unless you believe you are the one-and-only who knows all market), please step up with all the info SOA so we can take the necessary control please, required to protect you.

[TheCountOfNowhere]

58 minutes ago, Venger said:

Count, by your own standards shouldn't we be able to decide what you do in the market?   You probably don't know 'what you're doing either'.   Can we decide whether or not you are allowed to go view higher end houses £1m, and decide whether you're paying too much money if the owner still take whatever offer you are think is value for your?   If you agree, and surely you must (unless you believe you are the one-and-only who knows all market), please step up with all the info SOA so we can take the necessary control please, required to protect you.

Hi Venger, I agree with most of what you say.  

None of us here see any value in housing, so we dont buy.  We obviously have no clue about the housing market or we've have bought in london in 2008 and sold in 2014.  Or maybe we just want somewhere decent to live at a fair/affordable price and are not in it for the money.

I love renting, no upkeep, move when you want.  I've own houses...I know what their value is/was.  I Know what it's like to be stuck in a house unable to sell ( at a price ).  I see the damage the bubble is doing.

Sure it's a market, but it's one hell of a corrupt one.

The housing market isn't broken, it's dead, it's a con, there's no future in it for any of us here now without a massive collapse. Worse than that, the UK is going to the dogs and the people saying they are "helping" the vulnerable and poor and riding them harder than a french copper with a truncheon.

 

I'm out too.

Edited February 9, 2017 by TheCountOfNowhere