Chasing The Market Down

[TheCountOfNowhere]

 

 

 

 

 

 

[LC1]

A motivated seller perhaps? We desperately need a few more of those to deflate the other kite flyers on the street. Prices set at the margins and all that...

[TheCountOfNowhere]

34 minutes ago, LC1 said:

 

A motivated seller perhaps? We desperately need a few more of those to deflate the other kite flyers on the street. Prices set at the margins and all that...

Lets hope so.

 

IN 2007 STUFF LIEK THAT MIGHT HAVE SOLD FOR 350k AND was doulbe what it shoudl have been then.

 

Not it's over double what it should be now

[Agentimmo]

1 hour ago, LC1 said:

A motivated seller perhaps? We desperately need a few more of those to deflate the other kite flyers on the street. Prices set at the margins and all that...

Or possibly another similar house in the street or close by has just been sold for circa £450-470K, thus setting the new low ? If the seller is motivated, there may be a few more price drops to be had with this property

[LC1]

1 minute ago, Agentimmo said:

Or possibly another similar house in the street or close by has just been sold for circa £450-470K, thus setting the new low ? If the seller is motivated, there may be a few more price drops to be had with this property

Multiple houses on a street competing for scarce buyers, that's the holy grail! Not quite there yet, but perhaps soon...

[GreenDevil]

Should fly off the shelf at that price, after all it is Northampton. London commuter belt lol

[TheCountOfNowhere]

30 minutes ago, GreenDevil said:

 

Should fly off the shelf at that price, after all it is Northampton. London commuter belt lol

It's a 2 hour+ commute door to door from Northampton into London.  

I can just about drive to Manchester in that time.

Commuter belt...no, bottom of the barrel, yes.

That house is worth around 200K in line with local salarys, if that

[Democorruptcy]

5 minutes ago, TheCountOfNowhere said:

It's a 2 hour+ commute door to door from Northampton into London.  

I can just about drive to Manchester in that time.

Commuter belt...no, bottom of the barrel, yes.

That house is worth around 200K in line with local salarys, if that

200k? You must think a pound is still worth a pound!

Last sold 169,995 in 1999

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=55740154&sale=60934674&country=england

 

[ThePiltdownMan]

That big jutting red tiled section looks out of proportion to me. It looks like it could topple over with just the support of those decorative white braces.

[TheCountOfNowhere]

27 minutes ago, Democorruptcy said:

200k? You must think a pound is still worth a pound!

Last sold 169,995 in 1999

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=55740154&sale=60934674&country=england

 

Using this:

 

comes up with 274,992.34

http://www.thisismoney.co.uk/money/bills/article-1633409/Historic-inflation-calculator-value-money-changed-1900.html

So I;m being a bit harsh on it, still nearly double what it should be,

[wsn03]

A guy I'm working with is selling in Northampton. He told me it is about 45 mins to London on the train. I was puzzled, the last time I was on one passing through there it was a good couple of hours. The transport is so cr@p that guys I know who live there have to stay away when working on London projects, whereas I've always been able to take the 1 hr train daily from Coventry.

His has been on the market a while, probably one like this or maybe it is his. Lots of viewings, he said most are from Londoners because of course its such a short commute to London.

He is giving all sorts of reasons why his house isn't selling, not one of them being the possibility of it being over priced in a market full of over-stretched people. Northampton has never been on the top ten of desirable places to live in the area.

 

[TheCountOfNowhere]

15 minutes ago, wsn03 said:

A guy I'm working with is selling in Northampton. He told me it is about 45 mins to London on the train. I was puzzled, the last time I was on one passing through there it was a good couple of hours. The transport is so cr@p that guys I know who live there have to stay away when working on London projects, whereas I've always been able to take the 1 hr train daily from Coventry.

 

His has been on the market a while, probably one like this or maybe it is his. Lots of viewings, he said most are from Londoners because of course its such a short commute to London.

He is giving all sorts of reasons why his house isn't selling, not one of them being the possibility of it being over priced in a market full of over-stretched people. Northampton has never been on the top ten of desirable places to live in the area.

 

Sure, it's 45 Mins on the quick one !!!15 mins to get to the station, 5 mins to wait for the train...5 mins to get to the tube, 20-40 min ons the tube, 10 minute walk to the office.

So by my ready reckoner about 1.40 to 2 hours door to door, depending on where you work

It's 1 hour+ normally on the train

https://www.thetrainline.com/train-times/northampton-to-london-euston

My wife used to do it, she's go from Wolverton, didnt have to park as she got dropped off and she worked in the city.  Best she could managed was 1 hour 50 mins door to door, hence why I know it's a 2 hour commute.  If you are out west, south or east then forget it

When it all goes wrong too it's MUCH longer.

Price wise, IIRC a monthly ticket with tube was about £500+ then £150+ for parking, so best part of 10K after tax to commute for 2 hours on a packed train.

10K after tax is something like 14-18K before tax.

10K is about £200K mortgage.

I've had to do 1 day in London now and again and last time it took me almost 3 hours due to parking/location in London and that was getting the quick train to MK.

Northampton makes no sense and as soon as London prices collapse people will be moving into the city in their droves....who will they sell to ?

No one

http://ojp.nationalrail.co.uk/service/seasonticket/tickets

Says ticket price for train only is now 519.60 for a month, so maybe £600  including tube.

 

 

 

Edited May 24, 2017 by TheCountOfNowhere

[spyguy]

2 hours ago, TheCountOfNowhere said:

 

 

 

 

 

 

One year!

If my sodding property bee thang worked I could show you stuff thats been kicking around for >6 years.

[TheCountOfNowhere]

P.S. That figure of 274,992.34 is for inflation.

 

If you take wage inflatiuon,it's probably under £250K and when you factor in higher cost of living duie to inflation, lower still.

Current asking prices are again double what they should be an that's with this one already being dropped FIFTY THOUSAND POUNDFS

Edited May 24, 2017 by TheCountOfNowhere

[MattW]

Oh dear. Buyer pulled out of the sale a few weeks ago. Vendor must be feeling the pressure now. £50k drop since August.

[TheCountOfNowhere]

12 minutes ago, spyguy said:

One year!

If my sodding property bee thang worked I could show you stuff thats been kicking around for >6 years.

We had that in northants, between 2008 and 2012/2013 sonme stuff had been on the market for 5 years...then the London bubble wave came and no end of s**t sold.

We've just been sitting watching it, cant last forever.

[TheCountOfNowhere]

3 minutes ago, MattW said:

Oh dear. Buyer pulled out of the sale a few weeks ago. Vendor must be feeling the pressure now. £50k drop since August.

I expect someone must have told them the market is dead/flat and needs to drop to sell before TSHTF.

 

Long way to go till reality is achieved

[Democorruptcy]

12 minutes ago, TheCountOfNowhere said:

P.S. That figure of 274,992.34 is for inflation.

 

If you take wage inflatiuon,it's probably under £250K and when you factor in higher cost of living duie to inflation, lower still.

Current asking prices are again double what they should be an that's with this one already being dropped FIFTY THOUSAND POUNDFS

It's a pity that calculator doesn't include mortgage lending income multiples inflation. 

[Shrink Proof]

4 hours ago, ThePiltdownMan said:

That big jutting red tiled section looks out of proportion to me. It looks like it could topple over with just the support of those decorative white braces.

It looks like the architect left a packet of fags on the plan.

[GreenDevil]

5 hours ago, ThePiltdownMan said:

That big jutting red tiled section looks out of proportion to me. It looks like it could topple over with just the support of those decorative white braces.

I agree, what is the point of this stupid design? It looks shite and looks like its gonna fall over.

[Arpeggio]

On my route there's a house that was "Sale Agreed" for over 6 months, it's back to "For Sale" now. Another house I see has been "Sale Agreed" for many months.

[Wayward]

ugly and strange design...plus that over hang will reduce light entering the downstairs room...why you would choose this design I have no idea.

[Confusion of VIs]

On ‎5‎/‎24‎/‎2017 at 11:02 AM, TheCountOfNowhere said:

It's a 2 hour+ commute door to door from Northampton into London.  

I can just about drive to Manchester in that time.

Commuter belt...no, bottom of the barrel, yes.

That house is worth around 200K in line with local salarys, if that

You need to reset your expectations, even given the land for free you couldn't build that for £200k(not that I'd want to, it's a weird ugly design).   

[Si1]

4 minutes ago, Confusion of VIs said:

You need to reset your expectations, even given the land for free you couldn't build that for £200k(not that I'd want to, it's a weird ugly design).   

Should build cost set a minimum on market value?

[TheCountOfNowhere]

7 minutes ago, Confusion of VIs said:

You need to reset your expectations, even given the land for free you couldn't build that for £200k(not that I'd want to, it's a weird ugly design).   

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