Peak Kite flying?

[FedupTeddiBear]

7 hours ago, TonyJ said:

Don't forget the decking. Buyers will always be willing to pay £50 grand more if there is decking.

Nothing like decking to attract the rats in. Spacious, dry home for them underneath and they don't even pay rent! I don't know anyone with decking who doesn't have a rat problem.

 

[frye]

7 hours ago, Shrink Proof said:

Quite agree - there are definitely some people who really need decking.

Classic, made me laugh reading that.

The estate agent who called me this morning trying to get me into a bidding war needs decking...

[DarkHorseWaits-NoMore]

Since Cheltenham & Gloucester featured highly in the BBC's "Biggest house price rises for 2017 revealed". I've seen some rather hopeful asking prices, with a few notable extremes asking 50% more than last sold 2014-2016.
Eg: Last sold £195k Feb 2014, Redecorated now on at £295k
Will see if it ever sells...

[houseface2000]

31 minutes ago, DarkHorseWaits-NoMore said:

Since Cheltenham & Gloucester featured highly in the BBC's "Biggest house price rises for 2017 revealed". I've seen some rather hopeful asking prices, with a few notable extremes asking 50% more than last sold 2014-2016.
Eg: Last sold £195k Feb 2014, Redecorated now on at £295k
Will see if it ever sells...

Yep, it’s everywhere now! Oct 2014 £340k now £450k new kitchen work top, sink, polished floorboards, woodburner and paint and labour on the garden. £7k spend tops. http://www.rightmove.co.uk/property-for-sale/property-70974497.html

[crashmonitor]

9 hours ago, DarkHorseWaits-NoMore said:

Since Cheltenham & Gloucester featured highly in the BBC's "Biggest house price rises for 2017 revealed". I've seen some rather hopeful asking prices, with a few notable extremes asking 50% more than last sold 2014-2016.
Eg: Last sold £195k Feb 2014, Redecorated now on at £295k
Will see if it ever sells...

I'm assuming Abbeydale must be a bit of grot box because that looks almost reasonable, relatively speaking, especially being Southish in the country and the aforementioned Stockholm syndrome I'm probably suffering from too.

Edited March 6, 2018 by crashmonitor

[DarkHorseWaits-NoMore]

Abbeydale Gloucester? Typical 70s / 80s housing estate, some parts are not too bad, reasonable green spaces, surrounded by ex-council estates (mostly sold off), good access to M5 and the Cotswolds. Used to be lots of kids on bikes before social media arrived, plenty of dog walkers. Always been a bit cheaper than Cheltenham Spa 10 miles away. 

[Fromage Frais]

21 hours ago, houseface2000 said:

Yep, it’s everywhere now! Oct 2014 £340k now £450k new kitchen work top, sink, polished floorboards, woodburner and paint and labour on the garden. £7k spend tops. http://www.rightmove.co.uk/property-for-sale/property-70974497.html

So many of these they scream flipper.

http://www.rightmove.co.uk/property-for-sale/property-71151605.html

December 2016 £405,000 

Decided not to build the large extension as not on the best road and the project house next door is not selling at £695k (the highest price paid is still that £405 they paid).  to deliver the upgrades and extra sqm would be 90k plus.

Zoopla states £415,000 with a falling trajectory 

Right love what shall we do..........Lets put it on not £450 oh no not even £475 lets go for £475-£500k!

14 months not even changed the bathrooms £6,700 a month.

its actually debatable whether the house was actually worth £405 back in Dec 2016 and methinks as its 3 bed it may only be worth the same or less than what they paid.

If/when the agents go bust they will remember properties like this and the money wasted taking the photos.

 

Edited March 6, 2018 by Fromage Frais

[Pop321]

12 hours ago, Fromage Frais said:

So many of these they scream flipper.

http://www.rightmove.co.uk/property-for-sale/property-71151605.html

December 2016 £405,000 

Decided not to build the large extension as not on the best road and the project house next door is not selling at £695k (the highest price paid is still that £405 they paid).  to deliver the upgrades and extra sqm would be 90k plus.

Zoopla states £415,000 with a falling trajectory 

Right love what shall we do..........Lets put it on not £450 oh no not even £475 lets go for £475-£500k!

14 months not even changed the bathrooms £6,700 a month.

its actually debatable whether the house was actually worth £405 back in Dec 2016 and methinks as its 3 bed it may only be worth the same or less than what they paid.

If/when the agents go bust they will remember properties like this and the money wasted taking the photos.

 

Seeing too much of this. Buyers super gullible due to a grey paint job, big shabby chic clock on the wall, fancy framed mirror above a 'hole' where a fire once was (But the floating mantle suggests wood burner) 

Its all fur coat and people are buying it. 

Begs the question...do you blame the seller or the buyer or the daft gov policy (QE, HTB, Int rates). 

One of my old rentals (yes, apologies) is empty and true to my word I am selling in March/April a modest 3 bed terrace. The Elephants Breath and Pembroke stone are already going on. The light grey carpets and two matching silver/crystal big lights going up (Amazon £21 each down from £99 each). Old curtains removed and grey/white impractical blinds going up. Out with the brass fire and a new Limestone fire with Victorian inset (£1800 but second hand ex display for £200). Some extra sockets put in and a change of the brass knobs on the fitted bedroom furniture. 

Okay there is a little more than just paint (electrics and a new ceiling) but not much more and nothing a new buyer should not have seen behind the heavily embossed and heavy flowery pelmets and curtains. The kitchen, bathroom, Windows, electrics and heating remain largely untouched from the EA initial visit a month ago. 

I will be asking almost 10% less than other equivalent houses but only because that is still 10% more than before my £5k makeover. Happy to sell quick and get out before anyone notices the emperor has no clothes on. This make over is to ensure a quick sale. 

EA Value pre paint £175k

EA Value post paint £220k

Asking Price £199k.

Open house to then encourage best offer...best offer accepted whatever it is ie £170k or £210k

Over the past 15 years I have found around a dozen friends/family (usually FTB'ers) little gems that just needed a decor job and saved them a fortune. First I show them a house done....then a wreck (avoid) and then an old lady light refurb. That is if I could not convince them a crash was imminent. What fascinates me is many of the young FTB'ers move in and often leave the place as is...maybe a light decor but they seem happy with the heavy warm curtains and the heavy practical flooring. Although to be fair when the carpets do need replacing in goes the grey ??

Hopefully people will stop paying daft prices for bling and once rates creep up and investors disappear (s24) then normality can resume. 

Edited March 7, 2018 by Pop321

[Fromage Frais]

3 hours ago, Pop321 said:

Seeing too much of this. Buyers super gullible due to a grey paint job, big shabby chic clock on the wall, fancy framed mirror above a 'hole' where a fire once was (But the floating mantle suggests wood burner) 

Its all fur coat and people are buying it. 

Begs the question...do you blame the seller or the buyer or the daft gov policy (QE, HTB, Int rates). 

One of my old rentals (yes, apologies) is empty and true to my word I am selling in March/April a modest 3 bed terrace. The Elephants Breath and Pembroke stone are already going on. The light grey carpets and two matching silver/crystal big lights going up (Amazon £21 each down from £99 each). Old curtains removed and grey/white impractical blinds going up. Out with the brass fire and a new Limestone fire with Victorian inset (£1800 but second hand ex display for £200). Some extra sockets put in and a change of the brass knobs on the fitted bedroom furniture. 

Okay there is a little more than just paint (electrics and a new ceiling) but not much more and nothing a new buyer should not have seen behind the heavily embossed and heavy flowery pelmets and curtains. The kitchen, bathroom, Windows, electrics and heating remain largely untouched from the EA initial visit a month ago. 

I will be asking almost 10% less than other equivalent houses but only because that is still 10% more than before my £5k makeover. Happy to sell quick and get out before anyone notices the emperor has no clothes on. This make over is to ensure a quick sale. 

EA Value pre paint £175k

EA Value post paint £220k

Asking Price £199k.

Open house to then encourage best offer...best offer accepted whatever it is ie £170k or £210k

Over the past 15 years I have found around a dozen friends/family (usually FTB'ers) little gems that just needed a decor job and saved them a fortune. First I show them a house done....then a wreck (avoid) and then an old lady light refurb. That is if I could not convince them a crash was imminent. What fascinates me is many of the young FTB'ers move in and often leave the place as is...maybe a light decor but they seem happy with the heavy warm curtains and the heavy practical flooring. Although to be fair when the carpets do need replacing in goes the grey ??

Hopefully people will stop paying daft prices for bling and once rates creep up and investors disappear (s24) then normality can resume. 

I would be amazed if this sells over 450.

Its not price inflation as the prices are flat and its not an amazing house.

As of typing there is a 190m2 5 bed i a much nicer street on for £695 (not sold) which is better than what you will have if you bought this and then expanded it.

there is also a 220m2 estate house which is nice condition for £550.

Just a waste of everyones time.

You see these all the time now there is even a house in Wroxham 950 > 900 in a couple of days.  I would not be impressed launching a property and reducing 50K in 2 days it just shows how much is just hot air.

http://www.rightmove.co.uk/property-for-sale/property-64010347.html

Zoopla tells me (as its not changed at all I think its reasonable) 600K ish

Even though its clear the market is picky and slow vendors are still in 20% a year mode when it comes to asking prices.

Fingers crossed this builds inventory up and causes larger falls later

 

[Fromage Frais]

Rightmove is going to be showing a high increase in Norwich.

Illogically people are getting more and more outrageous with asking prices and the recent listings have forgotten a bedroom in many cases asking 4 bed money for a 3 bed.

My favourite is this one though

http://www.rightmove.co.uk/property-for-sale/property-53332656.html

£600k for a 4 bed ugly extended from a small  3 bed semi and it even needs updating...and its not on the much better grove walk around the corner.

200k overpriced?  Even good old Zoopla states 300-360 + negative trajectory.

BONKERS

 

 

Edited March 9, 2018 by Fromage Frais

[crashmonitor]

36 minutes ago, Fromage Frais said:

Rightmove is going to be showing a high increase in Norwich.

Illogically people are getting more and more outrageous with asking prices and the recent listings have forgotten a bedroom in many cases asking 4 bed money for a 3 bed.

My favourite is this one though

http://www.rightmove.co.uk/property-for-sale/property-53332656.html

£600k for a 4 bed ugly extended from a small  3 bed semi and it even needs updating...and its not on the much better grove walk around the corner.

200k overpriced?  Even good old Zoopla states 300-360 + negative trajectory.

BONKERS

 

 

Yep you might have won first prize with that one. Thoroghly depressing if you are looking to buy at some stage in Norwich. Is it the best street in Norwich or something?

[Houdini]

If mentioned this one before but I will bring it here again due to the grey paint job.

www.rightmove.co.uk/property-for-sale/property-70670462.html

Sold STC at £475k asking - its worth £250k max...

 

 

[Shrink Proof]

2 hours ago, Fromage Frais said:

Rightmove is going to be showing a high increase in Norwich.

Illogically people are getting more and more outrageous with asking prices and the recent listings have forgotten a bedroom in many cases asking 4 bed money for a 3 bed.

My favourite is this one though

http://www.rightmove.co.uk/property-for-sale/property-53332656.html

£600k for a 4 bed ugly extended from a small  3 bed semi and it even needs updating...and its not on the much better grove walk around the corner.

200k overpriced?  Even good old Zoopla states 300-360 + negative trajectory.

BONKERS

 

 

Whoever chose that living room carpet and wallpaper needs a white stick and an intelligent dog.

[Option5]

8 minutes ago, Shrink Proof said:

Whoever chose that living room carpet and wallpaper needs a white stick and an intelligent dog.

The Astra parked outside is the giveaway 

[Houdini]

Just now, Option5 said:

The Astra parked outside is the giveaway 

It used to be the case that the car outside gave a clue to the price of the property. I think that Astra confirms everything you need to know about that property.

[Option5]

5 minutes ago, Houdini said:

It used to be the case that the car outside gave a clue to the price of the property. I think that Astra confirms everything you need to know about that property.

Up until 1987 my car was always worth more than my house, priorities?

[crashmonitor]

15 minutes ago, Option5 said:

The Astra parked outside is the giveaway 

Looks like the home of someone with a lot of money, because clearly it isn't being spent on the house which was last updated in 1983.

Seen many homes like that where the owner is loaded. To the discerning buyer it is pitching the lifestyle of your typical millionaire boomer.

If it achieves anywhere near the asking price, spending nothing  paid off. They have set out their stall...''We are not giving it away''.

Edited March 9, 2018 by crashmonitor

[Democorruptcy]

£845k for what is advertised as a 2 bed leasehold flat in Wales?

http://www.rightmove.co.uk/property-for-sale/property-71781911.html

 

[Fromage Frais]

2 hours ago, crashmonitor said:

Yep you might have won first prize with that one. Thoroghly depressing if you are looking to buy at some stage in Norwich. Is it the best street in Norwich or something?

Not by a long shot just look a street view.

https://www.google.co.uk/maps/@52.620426,1.2893529,3a,75y,106.41h,89.58t/data=!3m6!1e1!3m4!1sihPPP1JP-y5FfMOPGc-m0Q!2e0!7i13312!8i6656

You can have a 4 bed detached in mount pleasant for 800 (been for sale for ages).

The selling prices have 

1 hour ago, Houdini said:

If mentioned this one before but I will bring it here again due to the grey paint job.

www.rightmove.co.uk/property-for-sale/property-70670462.html

Sold STC at £475k asking - its worth £250k max...

 

 

But at least that has some character.

A fool from London would say hey thats like 1.2 million in Bretford bargain.

 

[crashmonitor]

7 minutes ago, Fromage Frais said:

Not by a long shot just look a street view.

https://www.google.co.uk/maps/@52.620426,1.2893529,3a,75y,106.41h,89.58t/data=!3m6!1e1!3m4!1sihPPP1JP-y5FfMOPGc-m0Q!2e0!7i13312!8i6656

 

 

Not very special at all. Took a virtual drive down the road from the start, the house is half way down on the right and yep the silver Astra is there, I bet it never moves. Facing on the left are rows of fairly humble 1960s terraced houses. Surprising what 600k doesn't buy you these days.

[Fromage Frais]

8 minutes ago, Democorruptcy said:

£845k for what is advertised as a 2 bed leasehold flat in Wales?

http://www.rightmove.co.uk/property-for-sale/property-71781911.html

 

235m2 + I assume garage parking and its newish and has a view

= £3500m2 utterly silly A joke but that house in Norwich does not even have a measured floorplan...ergo space is not a selling point - the garage and i doubt the house is over 150m2

£600,000 / 150 = £4000 a m2 aka 370-390£ PSF

I repeat its a) in Norwich b ) the market selling prices are stalling and c) it's not even nice!

You could possibly buy inside the M25 at this price/quality level

 

[Fromage Frais]

2 minutes ago, crashmonitor said:

Not very special at all. Took a virtual drive down the road from the start, the house is half way down on the right and yep the silver Astra is there, I bet it never moves. Facing on the left are rows of fairly humble 1960s terraced houses. Surprising what 600k doesn't buy you these days.

The selling prices down that road ar 350-425 max

Just where do they get the idea of £600k

 

[Democorruptcy]

58 minutes ago, Fromage Frais said:

235m2 + I assume garage parking and its newish and has a view

= £3500m2 utterly silly A joke but that house in Norwich does not even have a measured floorplan...ergo space is not a selling point - the garage and i doubt the house is over 150m2

£600,000 / 150 = £4000 a m2 aka 370-390£ PSF

I repeat its a) in Norwich b ) the market selling prices are stalling and c) it's not even nice!

You could possibly buy inside the M25 at this price/quality level

 

There is a view of the nearby railway line in picture 4, so admittedly a trainspotter might pay a price per metre premium. Maybe whoever paid the £610k in 2010 is one.

 

[Pop321]

16 hours ago, Houdini said:

If mentioned this one before but I will bring it here again due to the grey paint job.

www.rightmove.co.uk/property-for-sale/property-70670462.html

Sold STC at £475k asking - its worth £250k max...

 

 

Nice find.

They paid £221k in 2015 and late 2017 list it for £475k....bargain. At least they are establishing a new price for the area ?

I know grey is in but this is very grey....dark grey. Can't deny its a lovely house.

Top end fashionable renovation to attract the buyers who can afford it and just like new builds those buyers always expect prices to go up and happy to overpay 'for what they want'. Typically these are the people in the past who lost heavily in the end or taking 15 years to get their money back.

Glitter, grey, sparkle and sell the dream. Fish in a barrel. ?

Edited March 10, 2018 by Pop321

[yodigo]

3 hours ago, TonyJ said:

There is still plenty of kite flying going on, even where there are widespread reductions in nearby asking prices. Sellers obviously think kite flying will help them achieve a higher price. Personally, and maybe am just an outlier, but when I see kite flying, I conclude that the sellers are probably greedy and unreasonable people, and I am therefore permanently put off dealing with them. Does anyone else feel kite flying damages a seller's interests?

Yes. Put an offer in last week, based on many variables (main one being that the house needed new bathrooms, kitchen, carpets, painting). Not accepted, but the seller hadn't said what they would accept. Agent  asked for final and best offer. The agent also said another offer about the same as mine had also been rejected.

Kite-flying going on there, so just walked away.

Decided to walk away from a house last year, £35k over real value, knew they wouldn't accept a realistic offer - they eventually dropped 10k off the price, and still it hasn't sold - been on the market for 7 months. Still many kite-flyers around.