.....................has anyone nipped over to Mumsnet, to see what they think?

[Sackboii]

2 hours ago, Bob8 said:

yet most are saying it is the price that is the problem...

That’s the impression I got after reading the first 3 or 4 pages. No idea how many pages there are now but I’m buggered if I’m reading any more..! 😶

[regprentice]

21 hours ago, Sackboii said:

That’s the impression I got after reading the first 3 or 4 pages. No idea how many pages there are now but I’m buggered if I’m reading any more..! 😶

Thats why they posted though. In the hope someone will tell them something other than "drop the price"..... and you need to read "drop the price" again and again and again for it to sink in. 

[alexoftheorchard95]

On 3/14/2024 at 11:38 PM, IfWeWereVampires said:

Morpeth is most certainly not in Newcastle!

(As Morpeth people will tell you indignantly for one reason, and Newcastle people will tell you indignantly for another reason. Both are not only correct but have a point...)

Indeed. Felton is also not in Morpeth, nor is it in the middle of nowhere. It’s one of the most desirable villages in Northumberland. The house in question is £100k overpriced though. 

[Ah-so]

On 14/03/2024 at 19:32, Nick Cash said:

Do you honestly seriously think that a bunch of fat sweaty IT geeks with a few incels, weirdos and nutcases have any influence? 

I don't tick any of those (perhaps I'm a weirdo or a nutcase, hard to tell). 

But one thing I can tell you is that this site has been indirectly influential on some things that have directly impacted the BTL market. I can't say exactly why, but I have been lucky enough to be able to push some influence, using knowledge I'd gained here. 

[alexoftheorchard]

On 3/14/2024 at 11:38 PM, IfWeWereVampires said:

Morpeth is most certainly not in Newcastle!

(As Morpeth people will tell you indignantly for one reason, and Newcastle people will tell you indignantly for another reason. Both are not only correct but have a point...)

Indeed, and Felton is not in Morpeth, it’s actually one of the most sought after villages in Northumberland. I’d also not call 20 mins from the regional capital ‘the middle of nowhere’. No argument about it being overpriced to the tune of £100k (or more), but the dismissal of an entire community on account of it being in the north is incredibly patronising. I’m originally from the south. I can state with confidence that the quality of life up here in Northumberland is far higher. 

[Huggy]

3 hours ago, alexoftheorchard said:

Indeed, and Felton is not in Morpeth, it’s actually one of the most sought after villages in Northumberland. I’d also not call 20 mins from the regional capital ‘the middle of nowhere’. No argument about it being overpriced to the tune of £100k (or more), but the dismissal of an entire community on account of it being in the north is incredibly patronising. I’m originally from the south. I can state with confidence that the quality of life up here in Northumberland is far higher. 

Just a 3 minute listen, 01:05 in

 

[Si1]

14 hours ago, regprentice said:

Thats why they posted though. In the hope someone will tell them something other than "drop the price"..... and you need to read "drop the price" again and again and again for it to sink in. 

But that means they're poor/bankrupt. Marked to market is not what they seek.

[alexoftheorchard]

3 hours ago, Huggy said:

Just a 3 minute listen, 01:05 in

 

I love shock comedy, but that’s just a series of childish tropes that fall flat. No surprise really that Adam Kay wrote for Mrs Browns Boys.

[Quid Game]

20 hours ago, Ah-so said:

I don't tick any of those (perhaps I'm a weirdo or a nutcase, hard to tell). 

But one thing I can tell you is that this site has been indirectly influential on some things that have directly impacted the BTL market. I can't say exactly why, but I have been lucky enough to be able to push some influence, using knowledge I'd gained here. 

Lolz. You got a secret handshake too? 

[70PC]

This has rumbled on for a while. It's a 4 bed semi, ideal for train spotters (a few inches from a high speed train line). St Albans station is only a 1.9 mile walk down the train track and there are no annoying local distractions like shops, GP's etc.  

It was listed for £900,000 in April 23. The owner did the right thing and has slashed the price to £850,000. It still didn't sell and one idiot suggested £600,000 would be a better number. Thankfully we are starting to see some more realistic input.

"The concrete driveway is really scruffy and needs a good weed and sweep."

"It's an ideal time for bright bedding plants so I would get some in large pots. If you can face some gardening I'd be tempted to line the path with lavenders or similar."

And finally the golden oldie. 

"some new photos on a (hopefully)sunny day and she will be well set to get it sold soon."

https://www.rightmove.co.uk/properties/144267992#/?channel=RES_BUY

[yodigo]

11 minutes ago, 70PC said:

This has rumbled on for a while. It's a 4 bed semi, ideal for train spotters (a few inches from a high speed train line). St Albans station is only a 1.9 mile walk down the train track and there are no annoying local distractions like shops, GP's etc.  

It was listed for £900,000 in April 23. The owner did the right thing and has slashed the price to £850,000. It still didn't sell and one idiot suggested £600,000 would be a better number. Thankfully we are starting to see some more realistic input.

"The concrete driveway is really scruffy and needs a good weed and sweep."

"It's an ideal time for bright bedding plants so I would get some in large pots. If you can face some gardening I'd be tempted to line the path with lavenders or similar."

And finally the golden oldie. 

"some new photos on a (hopefully)sunny day and she will be well set to get it sold soon."

https://www.rightmove.co.uk/properties/144267992#/?channel=RES_BUY

Needs a big wall clock (the one in the kitchen is too small) and twigs in vases.

For me, the side, flat roofed extension is awful, especially in todays market.   

[Orb]

1 hour ago, 70PC said:

This has rumbled on for a while. It's a 4 bed semi, ideal for train spotters (a few inches from a high speed train line). St Albans station is only a 1.9 mile walk down the train track and there are no annoying local distractions like shops, GP's etc.  

It was listed for £900,000 in April 23. The owner did the right thing and has slashed the price to £850,000. It still didn't sell and one idiot suggested £600,000 would be a better number. Thankfully we are starting to see some more realistic input.

"The concrete driveway is really scruffy and needs a good weed and sweep."

"It's an ideal time for bright bedding plants so I would get some in large pots. If you can face some gardening I'd be tempted to line the path with lavenders or similar."

And finally the golden oldie. 

"some new photos on a (hopefully)sunny day and she will be well set to get it sold soon."

https://www.rightmove.co.uk/properties/144267992#/?channel=RES_BUY

I'd suggest some Live, Love, Laugh stencils in pictures 10 and 17. 

[Sackboii]

1 hour ago, 70PC said:

This has rumbled on for a while. It's a 4 bed semi, ideal for train spotters (a few inches from a high speed train line). St Albans station is only a 1.9 mile walk down the train track and there are no annoying local distractions like shops, GP's etc.  

It was listed for £900,000 in April 23. The owner did the right thing and has slashed the price to £850,000. It still didn't sell and one idiot suggested £600,000 would be a better number. Thankfully we are starting to see some more realistic input.

"The concrete driveway is really scruffy and needs a good weed and sweep."

"It's an ideal time for bright bedding plants so I would get some in large pots. If you can face some gardening I'd be tempted to line the path with lavenders or similar."

And finally the golden oldie. 

"some new photos on a (hopefully)sunny day and she will be well set to get it sold soon."

https://www.rightmove.co.uk/properties/144267992#/?channel=RES_BUY

I reckon that was once a pub. The flat roof bit added on the side was the bit the pub built in the 1970's when they first started serving food.

[70PC]

11 minutes ago, Sackboii said:

I reckon that was once a pub. The flat roof bit added on the side was the bit the pub built in the 1970's when they first started serving food.

Yes. One of the comments on mumsnet also said it looked like pub. 

[The Angry Capitalist]

1 hour ago, 70PC said:

This has rumbled on for a while. It's a 4 bed semi, ideal for train spotters (a few inches from a high speed train line). St Albans station is only a 1.9 mile walk down the train track and there are no annoying local distractions like shops, GP's etc.  

It was listed for £900,000 in April 23. The owner did the right thing and has slashed the price to £850,000. It still didn't sell and one idiot suggested £600,000 would be a better number. Thankfully we are starting to see some more realistic input.

"The concrete driveway is really scruffy and needs a good weed and sweep."

"It's an ideal time for bright bedding plants so I would get some in large pots. If you can face some gardening I'd be tempted to line the path with lavenders or similar."

And finally the golden oldie. 

"some new photos on a (hopefully)sunny day and she will be well set to get it sold soon."

https://www.rightmove.co.uk/properties/144267992#/?channel=RES_BUY

Whilst there are many posts on this site about over priced ridiculous properties that one did not surprise me as I can see many London high earners buying that who can commute to work in the capital.

It's a nice property to be fair and if you are on a 200k salary each as a married couple then with a combined salary of 400k that £900,000 is reasonable.

However, if I was personally on a high salary in London I would rent the cheapest place I could find within a 15 mile radius and save every penny I earned with the intention of buying a nice property in the North of the country on some kind of 5 year plan and to retire early.

I think that property is a niche one with not too many buyers around.

Might take a long time to sell but there will be a few around that would be tempted to buy it I am sure.

[70PC]

1 hour ago, The Angry Capitalist said:

Whilst there are many posts on this site about over priced ridiculous properties that one did not surprise me as I can see many London high earners buying that who can commute to work in the capital.

It's a nice property to be fair and if you are on a 200k salary each as a married couple then with a combined salary of 400k that £900,000 is reasonable.

However, if I was personally on a high salary in London I would rent the cheapest place I could find within a 15 mile radius and save every penny I earned with the intention of buying a nice property in the North of the country on some kind of 5 year plan and to retire early.

I think that property is a niche one with not too many buyers around.

Might take a long time to sell but there will be a few around that would be tempted to buy it I am sure.

What???  £850,000 with that scruffy drive and no large pots. What about the bright bedding plants. Don't get me started on the photos. 

[Ah-so]

On 18/03/2024 at 09:56, Quid Game said:

Lolz. You got a secret handshake too? 

I had the right job at the right time. No handshake required. 

The work done here on the implications of the reduction in interest rate tax relief on leveraged landlords was very useful and by far the most informed public source. 

[Nick Cash]

1 hour ago, Ah-so said:

I had the right job at the right time. No handshake required. 

The work done here on the implications of the reduction in interest rate tax relief on leveraged landlords was very useful and by far the most informed public source. 

Interesting. I was going to ask you whether it was local or national influence. 
 

There was a period a while ago when there seemed to me to be a symbiotic relationship between this forum and some of the younger Telegraph journalists. 

[dances with sheeple]

On 15/03/2024 at 23:39, Si1 said:

And it's worked for 20 years as govt got behind the stupid aspirational f#ckwit demographic. Sadly.

True, don"t think the bond market will let them get behind it any more though, a lot of people are going to be absolutely f*ucked on their debt load, especially since Japan seems to have staggered out of the cheap debt party into the sunlight at long last?

[dances with sheeple]

On 16/03/2024 at 07:23, 70PC said:

Markets decide and the evidence is that this property is seriously overpriced given location, property type, and changed market conditions. Despite this, the 'professional advice' given the OP on Mumsnet is to hold the price. Estate agents have become fixated on keeping properties off their competitors' books and sellers' interests are left to go to hell in handcart. Marketing it at a realistic price on day one had to be in the seller's best interests.    

It is a cult, the EA`s and sellers can"t help themselves.

[hurlerontheditch]

Quote

MasterGland · Yesterday 22:08

 

Two weeks in and we have had a grand total of two viewings. Tumbleweed-type response, I feel. No feedback from the viewings. I am now quite panicked as this was a "now or never" move for us.
The market here is dead and I have noticed that two properties in the nearby town have gone to auction. Prices are sinking fast.

We have just been talking about how low we will be able to go in order to try to make this happen.

https://www.mumsnet.com/talk/property/4989392-anyone-else-had-viewings-today?page=31

[Huggy]

31 minutes ago, hurlerontheditch said:

https://www.mumsnet.com/talk/property/4989392-anyone-else-had-viewings-today?page=31

Mum, talking about her daughter.

Quote

I have a much bigger garden, she has a much more attractive front garden.

This ties in with what I've seen.

[nero120]

Quote

Update

We are now under offer. The 2.5% over asking people came back and said they wanted to see another property as that was chain free and they wanted to move quickly (bearing in mind, they've been in rented for two years because they keep missing out on properties, probably due to their dodgy behaviour).

That just annoyed me and DH because are you withdrawing the offer? Is it still live and available of acceptance? Couldn't be bothered with it.

Had another offer the same day. At first they offered 2.5% under, EA straight away said no so they offered asking. Managed to negotiate to 1.5% over asking price, which we've accepted.

Had to chase the EA for confirmation of the position as they are not very proactive with keeping us updated. They said they aren't putting the property as under offer on RM until they have their financial docs, which should take a few days. Will feel better once we are officially 'SSTC', then can start properly looking for our onward purchase!

Thanks a lot to all those who have provided me with advice, I've really appreciated it and it's been invaluable as this is a very stressful and convoluted process and it can oftentimes feel like you don't know what to do for the best.

This kind of crap just makes me think people in the UK are so thick, they are still happy to overpay for property. Offering 2.5% under in a buyer's market?! Then quickly changing it to 1.5% over?! FFS!

No wonder the UK property market is f-ed, whilst idiots can buy houses with borrowed money they have no concept of value. This only changes when the credit taps are finally turned off, because by god these idiots will never learn.

[DownwardSlopingPlateau]

23 minutes ago, nero120 said:

This only changes when the credit taps are finally turned off..

Which they never will be - it's how the retail banks make money:

Revenue from retail banking is split into interest and non-interest origins. Net interest income accounts for approximately 70% of retail revenues. It is calculated by taking the interest collected from mortgage and credit cards..

[nero120]

13 minutes ago, DownwardSlopingPlateau said:

Which they never will be - it's how the retail banks make money:

Revenue from retail banking is split into interest and non-interest origins. Net interest income accounts for approximately 70% of retail revenues. It is calculated by taking the interest collected from mortgage and credit cards..

The bond market controls the effective rates at which banks can lend money at. Western governments are currently hemorrhaging money in trying to keep asset prices up in the wake of bond markets demanding higher rates. This will cause rates to continually rise over time, making it harder and harder for "UK debt idiot" to borrow as much money as humanly possible to overpay for a box of sh1t.

Edited March 26 by nero120