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

[Scorchio]

9 hours ago, Huggy said:

This ties in with what I've seen.

Lmao

[70PC]

Another enigma house. Terraced, 900 square feet, middle of nowhere, no ground floor WC.

No one wants to even view it! Pics again? Seems likely from the comments. When will estate agents learn.

"We started on £425k with an open day as per recommendation by our EA. 3 viewings. 2 of the parties were extremely interested and gave good feedback saying it was well presented and lovely etc. But no offers."

21/03/2024	Price changed from £415,000 to £400,000
29/02/2024	Price changed from £425,000 to £415,000
13/02/2024	Initial asking price: £425,000

https://www.mumsnet.com/talk/property/5026913-no-viewingsoffers-since-failed-open-day-what-would-you-do?flipped=1

[Orb]

23 minutes ago, 70PC said:

Another enigma house. Terraced, 900 square feet, middle of nowhere, no ground floor WC.

No one wants to even view it! Pics again? Seems likely from the comments. When will estate agents learn.

"We started on £425k with an open day as per recommendation by our EA. 3 viewings. 2 of the parties were extremely interested and gave good feedback saying it was well presented and lovely etc. But no offers."

21/03/2024	Price changed from £415,000 to £400,000
29/02/2024	Price changed from £425,000 to £415,000
13/02/2024	Initial asking price: £425,000

https://www.mumsnet.com/talk/property/5026913-no-viewingsoffers-since-failed-open-day-what-would-you-do?flipped=1

Anything we can do to help speed things along? She asks.

Well, there is one thing....

[Scorchio]

Why are EAs still digging their heels in so badly and overvaluing? I understand they are completely inept, but they can make money in a dead market by repricing to match what people are prepared or able to pay (and it ain't 2022 sucker prices). Obviously the valuation is the main factor for many when deciding which EA they go with, but they're still collectively coming up with stupid valuations. 

They could have easily saved this family the hassle by saying 'look, you'll be lucky to get £375k because nobody in their right mind will pay 2022 prices now, but you're quite welcome to list it at £400k for the next 12m in the vain hope somebody as stupid as you comes along and offers asking. 

[Si1]

2 hours ago, Orb said:

Anything we can do to help speed things along? She asks.

Well, there is one thing....

"I'm thinking we could reduce to 399k to open up a new band of buyers on rightmove, but it would feel so demoralising as we'd barely make any profit then!"

 

Christ on a bike

[Orb]

20 minutes ago, Si1 said:

"I'm thinking we could reduce to 399k to open up a new band of buyers on rightmove, but it would feel so demoralising as we'd barely make any profit then!"

 

Christ on a bike

I thought you made that up, and were taking a hugely sarcastic swipe at her. But no..... she actually posted that! 😮

She has to be a troll surely?

 

EDIT: That entire thread is an amazing window into the the HPI religion psyche and it's followers. As you said.... Christ on a bike!

Even that last post: "It's always the price, but the open staircase would put a lot of people off."

Edited April 5 by Orb

[gerkin]

Some of these mums are extremely stupid and they think they can just buy any house give it a lick of paint and put a vase of daffodils and some mug will give them 150k more as profit. 

[Si1]

1 hour ago, Orb said:

I thought you made that up, and were taking a hugely sarcastic swipe at her. But no..... she actually posted that! 😮

She has to be a troll surely?

Future generations will look back on the housing boom of the early 21st century with barely concealed amazement and disdain , especially as low brow society and weak govt mutually supported each other in such a destructive and vain endeavour.

1 hour ago, Orb said:

 

EDIT: That entire thread is an amazing window into the the HPI religion psyche and it's followers. As you said.... Christ on a bike!

Even that last post: "It's always the price, but the open staircase would put a lot of people off."

 

[Si1]

1 minute ago, gerkin said:

Some of these mums are extremely stupid and they think they can just buy any house give it a lick of paint and put a vase of daffodils and some mug will give them 150k more as profit. 

This has been the govt backed process for 20 years tho. Got to end.

[The Angry Capitalist]

10 hours ago, 70PC said:

Another enigma house. Terraced, 900 square feet, middle of nowhere, no ground floor WC.

No one wants to even view it! Pics again? Seems likely from the comments. When will estate agents learn.

"We started on £425k with an open day as per recommendation by our EA. 3 viewings. 2 of the parties were extremely interested and gave good feedback saying it was well presented and lovely etc. But no offers."

21/03/2024	Price changed from £415,000 to £400,000
29/02/2024	Price changed from £425,000 to £415,000
13/02/2024	Initial asking price: £425,000

https://www.mumsnet.com/talk/property/5026913-no-viewingsoffers-since-failed-open-day-what-would-you-do?flipped=1

"I'm thinking we could reduce to 399k to open up a new band of buyers on rightmove, but it would feel so demoralising as we'd barely make any profit then!"

That's the problem right there.

Expecting to make a "profit".

Must say it's impeccably organized and presented.

Looks like they hired a professional to arrange all that furniture and position it strategically to emphasize the properties qualities.

Due to its location they will sell it for around 400k I guess because potential buyers will be high salaried types who will be comfortable paying 400k for a home.

There is still plenty of currency/credit sloshing around the system from the free money era.

They need to be quick though because in another year rates will be higher.

[The Angry Capitalist]

8 hours ago, Scorchio said:

Why are EAs still digging their heels in so badly and overvaluing? I understand they are completely inept, but they can make money in a dead market by repricing to match what people are prepared or able to pay (and it ain't 2022 sucker prices). Obviously the valuation is the main factor for many when deciding which EA they go with, but they're still collectively coming up with stupid valuations. 

They could have easily saved this family the hassle by saying 'look, you'll be lucky to get £375k because nobody in their right mind will pay 2022 prices now, but you're quite welcome to list it at £400k for the next 12m in the vain hope somebody as stupid as you comes along and offers asking. 

I don't get it either.

They are so backwards it's difficult to fathom how their incompetency has gotten them this far.

However, free money made it easy for any Tom, Dick or Harry to make out like bandits in the property, banking and car industry.

You don't need to know anything in that environment apart from the basic presumption that people are stupid and will pay stupid prices for a house or new car.

That's why we see 10 estate agency offices on any main town or city centre street and Range Rovers, Porsche Cayennes and new SUVs everywhere you look.

[winkie]

6 hours ago, gerkin said:

Some of these mums are extremely stupid and they think they can just buy any house give it a lick of paint and put a vase of daffodils and some mug will give them 150k more as profit. 

........and there must also be the stupid people that buy them.......takes two to tango. Expensive paint, vases and daffodils, they  may well feel even stupider when too late, some wouldn't have a clue, what it costs them a month today is all that matters.

[Cluelessofnowhere]

A guitar stood in the corner = large clock = union Jack cushion 

[winkie]

2 minutes ago, Cluelessofnowhere said:

A guitar stood in the corner = large clock = union Jack cushion 

Not buying a home then, buying a lifestyle?

[Si1]

2 hours ago, winkie said:

Not buying a home then, buying a lifestyle?

Status symbol = spending money on ostentatious sh#t you dont need.

[winkie]

15 minutes ago, Si1 said:

Status symbol = spending money on ostentatious sh#t you dont need.

No longer a status symbol, all surface manufactured tat not real......a good way to waste spending money symbol?

[shlomo]

10 hours ago, gerkin said:

Some of these mums are extremely stupid and they think they can just buy any house give it a lick of paint and put a vase of daffodils and some mug will give them 150k more as profit. 

Because you could, not £150k but more likely £60k but that still beats working

[shlomo]

Property timeline

Sold prices are provided by HM Land Registry and may take up to 6 months to appear.

• SOLD

  September 2022

  £395,000

  +£80,000 (25%)

• LISTED

  February 2022

  £395,000

   

  3 beds

   

  1 bath

   

  2 receptions

  

  +28

  
   
  See archived listing on Zoopla
• LISTED

  October 2020

  £385,000

   

  3 beds

   

  1 bath

   

  2 receptions

  

  +24

  
   
  See archived listing on Zoopla
• SOLD

  July 2018

  £315,000

  +£107,500 (52%)

• LISTED

  March 2018

  £325,000

   

  3 beds

   

  1 bath

   

  2 receptions

  

  +26

  
   
  See archived listing on Zoopla
• LISTED

  February 2017

  £325,000

   

  3 beds

   

  1 bath

   

  2 receptions

  

  +25

  
   
  See archived listing on Zoopla
• SOLD

  February 2010

  £207,500

  +£127,500 (159%)

• SOLD

  October 1998

  £80,000

[shlomo]

14 hours ago, Orb said:

Anything we can do to help speed things along? She asks.

Well, there is one thing....

I would say £355k

[70PC]

10 hours ago, Si1 said:

This has been the govt backed process for 20 years tho. Got to end.

 

4 hours ago, The Angry Capitalist said:

"I'm thinking we could reduce to 399k to open up a new band of buyers on rightmove, but it would feel so demoralising as we'd barely make any profit then!"

That's the problem right there.

Expecting to make a "profit".

Must say it's impeccably organized and presented.

Looks like they hired a professional to arrange all that furniture and position it strategically to emphasize the properties qualities.

Due to its location they will sell it for around 400k I guess because potential buyers will be high salaried types who will be comfortable paying 400k for a home.

There is still plenty of currency/credit sloshing around the system from the free money era.

They need to be quick though because in another year rates will be higher.

Sorry people, I got it wrong, its not the pictures. Wiser heads on Mumsnet have spotted the problem.....missing bannisters! If the owners sort that out, the £425k number should get the buyers excited.   

[70PC]

12 hours ago, Si1 said:

"I'm thinking we could reduce to 399k to open up a new band of buyers on rightmove, but it would feel so demoralising as we'd barely make any profit then!"

 

Christ on a bike

They need to learn tricks like 'cash backs' used for selling new homes. They originally wanted £425. They should stick to that number but have a £200k cash back incentive. There will probably still not be that much interest but there will be some. The main point is that Estate Agents need the bigger number shown on the Land Registry data base.

[nero120]

You have to understand, these people are the human equivalent of corks bobbing around on the ocean surface, utterly directionless and at the mercy of surrounding forces. This is the only time in history when such people could gain the kinds of windfalls with little to no effort that property has given them over the past few decades, and likely never will again.

Don't expect them to ever let go of that dream. This lot will go to their graves clinging on to such temporary fantasies. Meanwhile the market will continue to be priced at the margin.

[EmmaRoyds]

15 hours ago, Si1 said:

"I'm thinking we could reduce to 399k to open up a new band of buyers on rightmove, but it would feel so demoralising as we'd barely make any profit then!"

 

Christ on a bike

She's going to be even more demoralised when they make a loss, having bought at £395K 

[dances with sheeple]

13 hours ago, Si1 said:

Future generations will look back on the housing boom of the early 21st century with barely concealed amazement and disdain , especially as low brow society and weak govt mutually supported each other in such a destructive and vain endeavour.

 

Good way of putting it, it wasn`t just the Can`t be bothered to think much Mob who got caught up though, many people who should have known better got seduced by easy gains from BTL, holiday homes, AirBnB etc. and couldn`t stop themselves "Upsizing", with the help of their friendly neighbourhood banker of course. A right mess that is going to get very messy IMO.

[dances with sheeple]

1 hour ago, nero120 said:

You have to understand, these people are the human equivalent of corks bobbing around on the ocean surface, utterly directionless and at the mercy of surrounding forces. This is the only time in history when such people could gain the kinds of windfalls with little to no effort that property has given them over the past few decades, and likely never will again.

Don't expect them to ever let go of that dream. This lot will go to their graves clinging on to such temporary fantasies. Meanwhile the market will continue to be priced at the margin.

Couldn`t have put it better myself.