Flip-ping heck!

[Smiley George]

Just came across this beautiful example of whats possible for those HUTH devotees, with a little bit of effort and a hell a lot of imagination, with a dose of extreme kite flying to finish things off. http://www.rightmove.co.uk/property-for-sale/property-47227482.html

Bought for £322k less than 2 years ago.

On the market this morning for £695k!!

Yes they've renovated, but seriously c'mon anyone who pays anywhere near that needs to be sectioned.

Am I being harsh? (serious question)

[billybong]

The price seems to be relying on at least another few years of genius props from the government.  Massive props at that - crazy.

[AvoidDebt]

This one sold for 470k Mar 2016.

Its back on market for 630k Mar 2017.

My property developers are talentless scamsters radar is telling me this smells like a BTLer changing tact and attempting a flip. The original sale date looks suspiciously close to the epic BTL spunkfest. Daft **** probably realised what S24 means. 

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=54148300&sale=45763188&country=england

[TheCountOfNowhere]

I'm surprised ANYONE is looking at a house now.

It's gone from silly to just plain criminal.

[Shrink Proof]

1 hour ago, Smiley George said:

On the market this morning for £695k!!

Yes they've renovated, but seriously c'mon anyone who pays anywhere near that needs to be sectioned.

Am I being harsh? (serious question)

Well, yes, you are, You can only Section people when there's a realstic prospect of the (enforced) treatment being helpful.

Stupidity is untreatable.

[Mr Banks]

45 minutes ago, TheCountOfNowhere said:

I'm surprised ANYONE is looking at a house now.

It's gone from silly to just plain criminal.

You said that several years ago since then prices have continued to rise, "It's the top madness to buy now", I made those same aguments and people laughed at me. Now they own houses joke about my housing crash, parents just think I am a bit stupid for not seeing the political direction the wind is blowing in and not alligning myself with this 4 years ago when I had the chance (with gifted deposit). My sister maxed out on a mortgage still asks how the chinese collapse is going? what's happening to my savings? Is my rent gone up as her mortgage has fallen/stayed the same? She said that the government don't want house price falls and will prop it to infinity devaluing the currency or raising inflation destroying any cash held on deposit or reducing the size of the mortgage as wage inflation (even if real wage inflation is 0) picks up. Look RK was largely disputed in his statements about missed housing opportunity for those able to buy pre 2012 but it looks like he may have been right.

Houses are selling, grandparents just downsizing yet someone can afford 600k for their house brought on 3 times soldiers wages in the late 60's. As you have pointed out in your other thread (Barclays advert) the credit taps are on full flow. You could easilly be waiting into many decades time for a correction, which is criminal. But governments have always picked winners (usually those that vote for them or whose votes they need) so when the next prop comes don't be surprized don't exclaim I really didn't see that. People must be able to see the way the political wind is blowing (like I didn't in 2012) over the last 5 years with all the props added.

I really appreciate your twitter work @TheCountOfNowhere I retweet your tweets and have been pressing the politicians on twitter but seeing theses same sort of posts time after time over the years claiming the top is becoming like the boy that cried wolf claiming surprise at another prop like the barclays advert/offer should produce anger but not surprize.

[Wayward]

Wouldn't everyone look at the last recent sale price and look at the new grotesquely inflated price and think 'hang on'...I just can't imagine anyone biting...unless they place no value on money whatsoever and I think that is half the problem...the funds come from gains from sales of equally over priced property or from Carney's magic hat and so nobody cares or places value on funds to be used for the purchase.  Nobody would every pay with their own money - earned and taxed.  If you do you are totally nuts.

[“Nasty Piece of work”]

Imagine going back to that after a long day.....

[Smiley George]

18 minutes ago, Wayward said:

Wouldn't everyone look at the last recent sale price and look at the new grotesquely inflated price and think 'hang on'...I just can't imagine anyone biting...unless they place no value on money whatsoever and I think that is half the problem...the funds come from gains from sales of equally over priced property or from Carney's magic hat and so nobody cares or places value on funds to be used for the purchase.  Nobody would every pay with their own money - earned and taxed.  If you do you are totally nuts.

Absolutely spot on. Most normal people would do their research look at other properties sold in the street/area and would come to the conclusion that in the current market this house is not worth more than £500k.

And for me the role Estate Agents play is bordering on the criminal, the games they play and advice they give is in the most part nonsense. I'd love to see regulations whereby controls are placed on how house prices are advertised on their sites. Be great if they had to reveal some price transparency, by stating average sold price for road/postcode for last 6 months underneath their headline price.

[Dyson Fury]

2 hours ago, AvoidDebt said:

This one sold for 470k Mar 2016.

Its back on market for 630k Mar 2017.

My property developers are talentless scamsters radar is telling me this smells like a BTLer changing tact and attempting a flip. The original sale date looks suspiciously close to the epic BTL spunkfest. Daft **** probably realised what S24 means. 

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=54148300&sale=45763188&country=england

I think that one is very sad.  The old listing looks like the much-loved family home of an elderly person.  Yes it is full of clutter, but also looks full of love and memories.  The new listing is just soulless.  The radiator in the bay-fronted lounge is no even an improvement on what was there before.  They seem to have converted the attic into extra rooms (annoying there is no floorplan), but they have also destroyed a lovely garden.

[Fromage Frais]

2 hours ago, Smiley George said:

Absolutely spot on. Most normal people would do their research look at other properties sold in the street/area and would come to the conclusion that in the current market this house is not worth more than £500k.

And for me the role Estate Agents play is bordering on the criminal, the games they play and advice they give is in the most part nonsense. I'd love to see regulations whereby controls are placed on how house prices are advertised on their sites. Be great if they had to reveal some price transparency, by stating average sold price for road/postcode for last 6 months underneath their headline price.

I went on a viewing a few weeks the nice lady told me that prices will never go down and the home was an excellent investment.

not unlikely, or seldom......but never.

Imagine if they where held to that.

[CunningPlan]

7 minutes ago, Fromage Frais said:

I went on a viewing a few weeks the nice lady told me that prices will never go down and the home was an excellent investment.

not unlikely, or seldom......but never.

Imagine if they where held to that.

Not so sure. Have a look at http://www.zoopla.co.uk/market/surrey/?q=surrey

Try searching Surrey for detached houses over the last six months. Average £19,000 drop in value. (based on 1,769 sales)  Bring it on.

[Smiley George]

40 minutes ago, Fromage Frais said:

I went on a viewing a few weeks the nice lady told me that prices will never go down and the home was an excellent investment.

not unlikely, or seldom......but never.

Imagine if they where held to that.

I sometimes walk past the Dexter's Training Academy in Pimlico - http://www.dexters.co.uk/why-dexters/careers/training-and-development

I always have a little chuckle to myself imagining some of the "Training" that their estate agents must undergo.....most of them are internet shopping when I walk past!

[steve99]

23 hours ago, AvoidDebt said:

This one sold for 470k Mar 2016.

Its back on market for 630k Mar 2017.

My property developers are talentless scamsters radar is telling me this smells like a BTLer changing tact and attempting a flip. The original sale date looks suspiciously close to the epic BTL spunkfest. Daft **** probably realised what S24 means. 

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=54148300&sale=45763188&country=england

I do know this road in Harrow, should be a full on  lower middle class / working class price range around here.. What a scam. I am of the belief that the governments and bankers who have done this are either psychopathic criminals or beyond stupidity, probably both as both operate with impulsive self reinforcing behavior and immediate self gratification, ie this years bonus or getting voted in at all costs to society, no thought for the future.   I even know an old codger who lives just up the road from this house who is a BTL landlord who got in decades ago, he is 75 now and will not let go, has a HMO with about 6 rooms in it, in very doggy condition but he does not see it as this is how he lives him self, has a house he lives in and another flat as well, his wife owns an inherited flat near buy.  They could sell up now for maybe 2Mill all up and live like the landed gentry for the rest of their lives but have this belief that they are in his words 'scratching for a living'   I hope whoever bought this for 470k cannot sell it for half of that in the long run and give the chance I would lock up anyone that bought it for 630k for life and give the house to charity.

[Confusion of VIs]

18 hours ago, CunningPlan said:

Not so sure. Have a look at http://www.zoopla.co.uk/market/surrey/?q=surrey

Try searching Surrey for detached houses over the last six months. Average £19,000 drop in value. (based on 1,769 sales)  Bring it on.

Showing -£253 over past 6 months now??

Edit:Before anyone gets excited, thats  -£253 not -£253k

Edited March 11, 2017 by Confusion of VIs

[frye]

21 hours ago, Dyson Fury said:

I think that one is very sad.  The old listing looks like the much-loved family home of an elderly person.  Yes it is full of clutter, but also looks full of love and memories.  The new listing is just soulless.  The radiator in the bay-fronted lounge is no even an improvement on what was there before.  They seem to have converted the attic into extra rooms (annoying there is no floorplan), but they have also destroyed a lovely garden.

I agree with you there. The new version is very soulless indeed. I don't know if its just me, but properties that have spotlights in the ceilings really put me off for some reason.

[frye]

On 10/03/2017 at 10:34 AM, Smiley George said:

Just came across this beautiful example of whats possible for those HUTH devotees, with a little bit of effort and a hell a lot of imagination, with a dose of extreme kite flying to finish things off. http://www.rightmove.co.uk/property-for-sale/property-47227482.html

Bought for £322k less than 2 years ago.

On the market this morning for £695k!!

Yes they've renovated, but seriously c'mon anyone who pays anywhere near that needs to be sectioned.

Am I being harsh? (serious question)

695k for a house where the front door opens direct into the living room. No thanks, I'd like a hallway at least.

Also a bit too close to the river for me.

[CunningPlan]

7 minutes ago, Confusion of VIs said:

Showing -£253 over past 6 months now??

Edit:Before anyone gets excited, thats  -£253 not -£253k

You need to select detached houses.

[Confusion of VIs]

23 minutes ago, CunningPlan said:

You need to select detached houses.

Thanks.

[Maximus Skepticus]

That's nothing....look at this for value! and someone is actually going to buy it?.....all ex-council, rubbish strewn all over the street, black bags of dog crap everywhere.

http://www.grovesresidential.com/property-for-sale-franks-avenue-new-malden-pi2-GROV774.htm

Living in SW London I am surrounded by this craziness on a daily basis. 'People' crawling over each other to scrape together banker rent with any sign of courtesy or consideration thrown out of the window. tbh its a disgusting area in terms of lack of basic social respect on a day-to-day basis, the worst of London life in the suburbs. But its ok because they've all got nice motors and no savings.  Dont even get me onto teh driving (I ride a bike). Disgusting really, and people think this is normal.....may be it is, just urban sprawl. Some local EA suggested it popped blaming stamp duty, and now only the greedy holding out and the last of the desperate fools buying. I know 2 or 3 people who are desperate to sell-up in the area but have missed their highes offers, still after 12months. Both decent sized 3 beds 650-800k mark. Starting to take its toll on their well-being.

This is sustainable for much longer? It's clear the whole house of cards has started to collapse...wil the props will have as much effect as a trampoline saving a jumbo from crashing? I'd happily pay these prices to leave and get to watch it burn from afar, just needs a bit more accelerant added...which I believe this website does a damn good job, bringing reality to ludicrous situation.

Lock-in the final debtors at mad prices, and turn up the gas (interest rates)....pretty obvious really.

[AvoidDebt]

On 3/10/2017 at 11:02 AM, AvoidDebt said:

This one sold for 470k Mar 2016.

Its back on market for 630k Mar 2017.

My property developers are talentless scamsters radar is telling me this smells like a BTLer changing tact and attempting a flip. The original sale date looks suspiciously close to the epic BTL spunkfest. Daft **** probably realised what S24 means. 

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=54148300&sale=45763188&country=england

 

On 3/11/2017 at 10:34 AM, steve99 said:

I do know this road in Harrow, should be a full on lower middle class / working class price range around here.. What a scam.

This has now sold: http://www.rightmove.co.uk/property-for-sale/property-58080613.html

Madness continues.

[maverick73]

51 minutes ago, AvoidDebt said:

 

This has now sold: http://www.rightmove.co.uk/property-for-sale/property-58080613.html

Madness continues.

Sometimes some people find their dream rental home.. either sit and wait or go for it.... hopefully the prices nose dive to street levels.. then why rent when you can buy... Unfortunately governments don't think in terms of public sentiment. but public coffers 

[knock out johnny]

1 hour ago, AvoidDebt said:

 

This has now sold: http://www.rightmove.co.uk/property-for-sale/property-58080613.html

Madness continues.

to be fair, they have done a lot of work and improved it considerably so I don't think the markup is out of order

[Peter Hun]

1 hour ago, AvoidDebt said:

 

This has now sold: http://www.rightmove.co.uk/property-for-sale/property-58080613.html

Madness continues.

Sold STC does NOT mean it has been sold, nor the price. Until its in LR data, its ********.

The simple fact that rightmove average asking prices are 30% average sales prices should give you a clue.

[janch]

On 10/03/2017 at 4:27 PM, CunningPlan said:

Not so sure. Have a look at http://www.zoopla.co.uk/market/surrey/?q=surrey

Try searching Surrey for detached houses over the last six months. Average £19,000 drop in value. (based on 1,769 sales)  Bring it on.

Or look at some places in Berkshire eg Crowthorne famous for Wellington College (and close to Broadmoor).  In the last 7 days there were :

                               15 properties listed

Of these 4 were "doubles" ie the same property listed with more than one agent or that other annoying thing where the same property is listed again for the over 60s only; 

                               7 are reductions