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Am I Seeing Things?

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Was doing my usual monthly browse around the EA's in the East Grinstead area and noticed this:

http://www.halifaxhomefinder.co.uk/HxHfDet...ref=06207931000

52 Forest view road,RH19 4AR, a 3 bed semi priced at £242,500,average price for these parts.

I checked houseprice.co.uk for sold prices at that postcode and what do i find:

No 52 sold on 3/1/2006 for .........£185,000!!!

That's £57,500 less than asking? (Best check my maths)

What's happened there i ask myself?

Desperate forced sale?

Estate agent pulling a fast one?

Or a realistic vendor perhaps?

I'd love to find out!

Never expected to see that around here. If thats the future then i am getting even more bearish then i have been this last 2 years or so.

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NO, that's simply TTRTR 'expanding his portfolio'.

According to estate agents, East Grinstead is now officially classified as 'South South Wandsworth'.

:-) :-)

Italy - view of a hill town, bud 30 cents a bottle. HAHAHHAHAHAHAHAH

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Was doing my usual monthly browse around the EA's in the East Grinstead area and noticed this:

http://www.halifaxhomefinder.co.uk/HxHfDet...ref=06207931000

52 Forest view road,RH19 4AR, a 3 bed semi priced at £242,500,average price for these parts.

I checked houseprice.co.uk for sold prices at that postcode and what do i find:

No 52 sold on 3/1/2006 for .........£185,000!!!

That's £57,500 less than asking? (Best check my maths)

What's happened there i ask myself?

Desperate forced sale?

Estate agent pulling a fast one?

Or a realistic vendor perhaps?

I'd love to find out!

Never expected to see that around here. If thats the future then i am getting even more bearish then i have been this last 2 years or so.

The link doesnt work! The VIs pulled it? :unsure:

Italy - view of a hill town, bud 30 cents a bottle. HAHAHHAHAHAHAHAH

Italy - Whats that mean? :unsure:

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Interesting. My wife spotted the same type of thing happening in Preston, Lancashire also.

She has found redutions of over 25% on 3 or 4 properties in the past few months.

The local property post has one EA in their with "priced realistically for quick sale" slashed across several of the photos. I have never seen that before!

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i make that a reduction of 23.7%!.............This is crash territory...unless of course the original asking price was absurdly high even in the current market

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They have pulled the link--EAs watching this site perhaps?

Has it occured to anyone that the VIs are pulling a massive cover-up and co-operating together to make sure the figures are kept "bouyant?"

Seems anecdotal evidence like this is all that can be relied upon. Even the LR figures can be massaged to reflect government policy.

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They have pulled the link--EAs watching this site perhaps?

Has it occured to anyone that the VIs are pulling a massive cover-up and co-operating together to make sure the figures are kept "bouyant?"

Seems anecdotal evidence like this is all that can be relied upon. Even the LR figures can be massaged to reflect government policy.

Walked through town today. One estate agent had prices crossed out and lower prices written over the top in almost unreadable handwriting. But they were noticably lower. Given that this was a number of properties at an estate agent I wondered whether their cashflow had slowed down a bit...

Billy Shears

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Guest Charlie The Tramp

Was doing my usual monthly browse around the EA's in the East Grinstead area and noticed this:

52 Forest view road,RH19 4AR, a 3 bed semi priced at £242,500,average price for these parts.

I checked houseprice.co.uk for sold prices at that postcode and what do i find:

No 52 sold on 3/1/2006 for .........£185,000!!!

You made a mistake there. You should before posting this type of Topic phoned the EA asking for details. I would bet they would have said sorry it has just been sold at full asking price. Strange how it was suddenly lifted after you posted. Remember EAs would not think Joe Public would be aware of Net House Prices and other similiar websites.

Edit: I meant to post this yesterday so it`s just as well here.

My next door neighbour has his parents living with him. The wife told me that 3 property chains they were involved in completey broke down. In desperation they completed their own sale to look for another. One chain involved the vendor telling them they had received another offer of 20k more so they pulled out. Last week the EA phoned them saying the house was back up at their offer price and were they interested. Evidently the father told the EA to inform the vendor he can stick a wire brush where the sun never shines but a bit more explicit. The father said to me the HM is in a right mess. I wouldn`t know said I as we are not looking to move. :rolleyes:

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Was doing my usual monthly browse around the EA's in the East Grinstead area and noticed this:

http://www.halifaxhomefinder.co.uk/HxHfDet...ref=06207931000

52 Forest view road,RH19 4AR, a 3 bed semi priced at £242,500,average price for these parts.

I checked houseprice.co.uk for sold prices at that postcode and what do i find:

No 52 sold on 3/1/2006 for .........£185,000!!!

That's £57,500 less than asking? (Best check my maths)

What's happened there i ask myself?

Desperate forced sale?

Estate agent pulling a fast one?

Or a realistic vendor perhaps?

I'd love to find out!

Never expected to see that around here. If thats the future then i am getting even more bearish then i have been this last 2 years or so.

Why do I feel a sudden urge to rush to the kitchen and stick my nose in a jar of nescafe?

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One of my local papers, The Alcester Standard (W Midlands), arrived today. FULL of properties. For example, a major EA, Andrew Grant, has 32 properties in this week. 8 are "New Price" (price reduced). Pretty much average for the EAs around here--a good 25% are dropping prices weekly to try to find a buyer. Many small properties/flats with "no upward chain" which probably means a BTLer getting out too late to realise top of the market profit.

If prices are being reduced they are not "flying off the shelves." The HPC continues along its destined path notwithstanding the desparate propaganda from the VIs.

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52 Forest view road,RH19 4AR, a 3 bed semi priced at £242,500,average price for these parts.

No 52 sold on 3/1/2006 for .........£185,000!!!

That's £57,500 less than asking? (Best check my maths)

It looks to me like its for sale for more than they bought it for.

If any EA is still showing details of for sale 3 months after it sold then report them to TS.

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Guest Charlie The Tramp

It was bought by a woman from Horley for £185k in a cash sale completed on 3/1/2006 and registered on 16/1/2006. Looks as if she is flipping it.

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I used to work in East Grinstead - it's a total hole, I used to post HPC logo stickers in the newsagents on my lunch hours & remember laughing at the hairdressers when he told me the price of a cut was £20 - 'because we're on the high street' - of where though? **** end of mediocresville that's where, ugh, well out of there.

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http://www.halifaxhomefinder.co.uk/HxHfDet...ref=06207931000

is the link... hope it works or cut and paste.

Thats the one. Notice how it says sold subject to contract?

But i am sure it's the same property thats on my December 6th 2005 checklist at that asking price. I'll dig it out and make sure.

It's amazing how you get to remember the location/address of for sale properties as you research them over the months. And a bit sad as well...must get a life!

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One of my local papers, The Alcester Standard (W Midlands),

The HPC continues along its destined path

And runs parallel to unemployment. Once your crash is really underway, you'll be more interested in finding a job than a house!!

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And runs parallel to unemployment. Once your crash is really underway, you'll be more interested in finding a job than a house!!

As a STM (sold to move) I have taken up a defensive position investment-wise and am prepared to weather the coming storm for a few years. Higher IR will increase my income considerably which will be supplemented by falling house prices and lower rents (recessions tend to lower rents). You are right in the sense that I may put off buying a house for many years as it seems to me that the size of the present bubble points to an equal counterforce that will take longer to unwind than the Great Crash of 1989-96.

If you are a BTLer my advice would be to go to cash right away and sit tight until the recession passes. Bloated assetts are the last thing any investor wants to be holding during a recession. If you own a house and have an IO mortgage I think my advice would be the same as negative equity may be around for many years.

It was bought by a woman from Horley for £185k in a cash sale completed on 3/1/2006 and registered on 16/1/2006. Looks as if she is flipping it.

Is that flipping for what she paid? She must have been spooked and wants to get out before some large depreciation sets in?

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Is that flipping for what she paid? She must have been spooked and wants to get out before some large depreciation sets in?

So IF it was bought for 185K and is now being marketed at 242K somehow you manage to see this as evidence of the impending crash?

:huh:

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I think my point has been reinforced here.

There is still some mileage for the brave to go out, negotiate a good deal and do something up and make 40k, not bad for a couple of months work

But you have to be good, and you have to have the cash to move quickly.

There will be a time when many will be caught with their trousers down.

Most projects should be completed in 12wks, if you cannot hit the milestones then forget it as the market moves very quickly both ways.

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Was doing my usual monthly browse around the EA's in the East Grinstead area and noticed this:

http://www.halifaxhomefinder.co.uk/HxHfDet...ref=06207931000

52 Forest view road,RH19 4AR, a 3 bed semi priced at £242,500,average price for these parts.

I checked houseprice.co.uk for sold prices at that postcode and what do i find:

No 52 sold on 3/1/2006 for .........£185,000!!!

That's £57,500 less than asking? (Best check my maths)

What's happened there i ask myself?

Desperate forced sale?

Estate agent pulling a fast one?

Or a realistic vendor perhaps?

I'd love to find out!

Never expected to see that around here. If thats the future then i am getting even more bearish then i have been this last 2 years or so.

The link is down....but it seems likely to me that the property was purchased in 3.1.2006 and is now being put back onto the market for a tidy profit. This snippet of datum appears to support the strengh of the housing market

EDIT: I posted before reading the last page...I see that the house re-sale has already been spotted. That will teach me not to post before reading the entire thread.

Edited by Dubai Exile

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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