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Examples of big & multiple drops


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On 06/09/2018 at 21:59, simon2 said:

If you want a laugh check out these, already at over 10% down on listed (£325k - £290k)

https://www.rightmove.co.uk/property-for-sale/property-66551890.html

Basically a glorified hotel room. The price really should be under £200k going on size and competition but I guess that's help to buy in effect. 

So they're £850 per square foot. What's a rule of thumb for fair price per square foot price? I can't guage value any more. 

Zoopla show current price per sq ft, which correlate with that flat above, and terraces/semi/detached near me (Worthing). I wonder if EAs just measure the property and multiply by these figures!!

https://m.zoopla.co.uk/market/uk/

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On 24/08/2018 at 05:36, Sausage said:

I'm hoping the BTL rush for exit, rate rises and overstretched HTB buyers trying to sell up will finally pop the bubble. I'm starting to see large and multiple drops in price. Like this one:

Capture2.PNG.8eb33177002bcd977c588fc9754183a5.PNG

F|_|ck me! That is butt ugly.

I suppose it goes with all the sh|t grey, black, gun metal & diarrhea colour cars that are ubiquitous these days. Why do people spend £400 a month on a nice car and then order it in a austerity depression colour?

Come to that, why do people buy butt ugly 'seventies industrial estate' houses like these and then install office blinds (which permenantly exclude any natural light) as soon as they move in? Do they spend so much of their lives in their dull, toxic offices that they want their 'home' to look like their office?

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Not quite a suburb but…

 

Landlord wants to sell our house after quote this week for plaster work, windows and gutters (£17k) making outbuildings safe, sort some damp issues, compliance with Welsh Gov rental rules etc. was over £30k.

He bought in 2005 for £125k…has done precisely nothing to it and it just got valued at £118k.  Says it’s not worth him doing the work. 

It’s a 1930’s 3 bed, red brick semi with off street parking for 4 cars, garden front and rear…25mins from Chester in an 'award winning' Welsh village.

According to EA it’s not an attractive proposition to young couples as it needs too much work (about 50k according to surveyor to make nice - new kitchen and bathroom type stuff plus the other jobs), but too big for downsizers and too much work.

4 doors up is immaculate, same layout and went for £150k in 2013.

 

He's gutted, absolutely beside himself and desperate to sell before BREXIT kicks in so he says. 

 

I don’t know what he owes on it, but having all this information to hand we’re considering a cheeky offer!

 

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16 minutes ago, MinistryMan said:

Not quite a suburb but…

 

Landlord wants to sell our house after quote this week for plaster work, windows and gutters (£17k) making outbuildings safe, sort some damp issues, compliance with Welsh Gov rental rules etc. was over £30k.

He bought in 2005 for £125k…has done precisely nothing to it and it just got valued at £118k.  Says it’s not worth him doing the work. 

It’s a 1930’s 3 bed, red brick semi with off street parking for 4 cars, garden front and rear…25mins from Chester in an 'award winning' Welsh village.

According to EA it’s not an attractive proposition to young couples as it needs too much work (about 50k according to surveyor to make nice - new kitchen and bathroom type stuff plus the other jobs), but too big for downsizers and too much work.

4 doors up is immaculate, same layout and went for £150k in 2013.

 

He's gutted, absolutely beside himself and desperate to sell before BREXIT kicks in so he says. 

 

I don’t know what he owes on it, but having all this information to hand we’re considering a cheeky offer!

 

It gets better...

Next door attached to us (is the end plot so a bit bigger area, but needs as much work as ours) got extended 15 years ago in to a 4 bed.  It then sold in 2007 for 240k to our current neighbours. Flippin crazy, its almost identical to ours with just a bigger shed!!

Just been valued whilst we were away in summer at....drum role........£148k!!!!!  yes , yes , yes , yes!!! [email protected] hallelujah

The only reason we know this is because they want to know what our landlord wants to sell ours for after we told them they might be getting new neighbours!

 

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26 minutes ago, MinistryMan said:

It gets better...

Next door attached to us (is the end plot so a bit bigger area, but needs as much work as ours) got extended 15 years ago in to a 4 bed.  It then sold in 2007 for 240k to our current neighbours. Flippin crazy, its almost identical to ours with just a bigger shed!!

Just been valued whilst we were away in summer at....drum role........£148k!!!!!  yes , yes , yes , yes!!! [email protected] hallelujah

The only reason we know this is because they want to know what our landlord wants to sell ours for after we told them they might be getting new neighbours!

 

what's going to be your cheeky offer? £80K?

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On 19/09/2018 at 12:29, hotblack42 said:

As entertaining as they are, the examples are generally overpriced and/or unusual and/or horrid.

Has anyone found an example of a smart red brick 3 bed semi in a pleasant suburb, that was initially reasonably priced, being cut aggressively?

That will be the dam breaking I feel.

I prefer the yellow bricks.....yellow is worth more than red.?

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The real gauge is the cretinous EAs and how they respond to trolling emails.

 

I've sparked up a handful of email conversations with a few local ones recently which are still ongoing, my standard opening gambit along the lines of

 

"what rent amount are they willing to consider here? I'm interested in a long term let with my family but not at this current asking price, I'll keep an eye on this and will be keen to view once the asking price begins to reflect reality"

 

and on some of the more batsh1t insanely prices family homes for sale

 

"does this little goldmine come with a family of tenants?"

 

and on the many multiple reduced hovels for sale which are using the classically desperate "offers between" I'm going for the 

 

"will you consider offers over on this little gem??"

 

its amazing how much these clowns will respond to, smells like desperation to me and I'm enjoying toying with them after so many years of them thinking they are in some sort of position of power. the reaper is calling...

 

 

 

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On 20/09/2018 at 13:56, Cryptotrader said:

F|_|ck me! That is butt ugly.

I suppose it goes with all the sh|t grey, black, gun metal & diarrhea colour cars that are ubiquitous these days. Why do people spend £400 a month on a nice car and then order it in a austerity depression colour?

Come to that, why do people buy butt ugly 'seventies industrial estate' houses like these and then install office blinds (which permenantly exclude any natural light) as soon as they move in? Do they spend so much of their lives in their dull, toxic offices that they want their 'home' to look like their office?

I agree. There's a whole estate like this! The builders must think "let's whack em up quick to milk the HTB cow, who cares what they look like"

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4 hours ago, stuckmojo said:

Look at the psychology of the first listing at £1m projected profit. 

Absolutely incredible. "Can I have £1m as a reward for living in my house for 18 years? Ta."

Even the 1999 price shows how long the London bubble has been going. £340k for 1600 sq ft of semi-detached house on a main road was already pricey.

Edited by Dorkins
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  • 2 weeks later...

I have found a house with actual big losses now:

https://www.rightmove.co.uk/property-for-sale/property-55554336.html

Sold in 2017 for £405,000. Listed for sale initially at £450,000, then dropped and dropped. Now listed at £375,000.

This is in a nice village near Henley-on-Thames. I wouldnt want it as it is on high street next to a coffee shop. But it shows when there is a need to sell big drops are to be had.

image.png.27071c76f2ee3e080182d9e9abee729c.png

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51 minutes ago, heffsta said:

I have found a house with actual big losses now:

I noticed a similar one in Bristol, 10% deposit gone and plenty of downside to cover:

Price history

Sold prices provided by Land Registry
9th Oct 2018 £495,000 Price reduced by £55,000
27th Sep 2018 £550,000 First listed
8th Sep 2017 £550,000 Last sold

https://www.zoopla.co.uk/for-sale/details/49169539

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