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"house Doctor" On Channel 5 Tonight

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Just saw the end of House Doctor...............

House near Brighton been on the market for over 7 months with no takers at £325k.

After 3k makeover one cash offer forthcoming at 265k reduced to 253.5k after survey. (22% reduction on original)

Desperate sellers "have no choice" other than to accept it.

Frequent references to "buyer's market", etc

That's more like it B)

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A new spin on reality TV. I like it!

With the work completed, the initial response from agents is very positive. Unfortunately, the local property market is in bad health and Lynne and Steve become desperate. Personal problems leave them in financial dire straits, and pressure is on to get a sale before the threat of repossession becomes a reality. At the eleventh hour, a cash buyer puts in an offer of £265,000 -which the couple are forced to accept - but a survey reveals minor problems and the pair are forced to drop the price a further £12,000.

http://www.five.tv/programmes/housedoctor/...ndout/thisweek/

On the market for 320k, sold for 253k, that's a good 20% off the asking price, even with house doctor's remedy (and I like the work she did)

I'm not going to call that a 20% fall, we don't know what similar places sold for recently.

But a seller's market it definitely is not. (at the time of filming that is)

Edited by BandWagon

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one cash offer forthcoming at 265k reduced to 253.5k after survey

What numptie pays £3.5k over the stamp duty threshold ?

good bloody point - i was just thinking the same thing - was that to 'secure' it? hahahaha!

anyway, about bloody time we got some coverage of this stuff and less of the 'house prices booming' b*llocks, when in fact they've only gone up 0.9%!

Edited by Stressed-Out

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Houses had beening go up at 20% pa for many years so a 20% reduction is fools gold at this point in time.

my guess was for houses to drop 40% from the peak but with the UK getting swamped with immigrants and the effect on wages i think i need to revise this figure up and i'll wait and see what happens with Oil

It's all looking very good :)

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It was a very individual house, therefore harder to value. They HAD to sell and presumably made no bones about it and screwed up their marketing - it's usually easy to spot a house that's not being appreciated by the sellers and you can guess they need to sell and lowball.

They were presumably trying to maximise their relative take, so they priced it at the very top of the market (or above) and it was not in the best of nick.

You would have loved to play them at cards - they just folded. The last house I bought, I revised my offer down £60K for the survey results. We negotiated to £35K and it cost me £2K to fix [using family]. It's a negotiation, they failed to negotiate and were awful at selling.

Being cynical, I would say they overpriced it 10%-15% in the first place, so valuing it at about £285K to £295K and would have sold it for mid £260Ks, had they not been so bad at selling (of course that buyer could have pulled out, but they did not even try to negotiate, muppets - he obviously made the reduction bigger than he expected, so he could afford to swallow the stamp duty hit and still be well up on the deal).

It's almost a repo sale, out of cash, leaving the house, of course it made the floor price.

An exercise in letting emotion rule their wallets.

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It was a very individual house, therefore harder to value. They HAD to sell and presumably made no bones about it and screwed up their marketing - it's usually easy to spot a house that's not being appreciated by the sellers and you can guess they need to sell and lowball.

They were presumably trying to maximise their relative take, so they priced it at the very top of the market (or above) and it was not in the best of nick.

You would have loved to play them at cards - they just folded. The last house I bought, I revised my offer down £60K for the survey results. We negotiated to £35K and it cost me £2K to fix [using family]. It's a negotiation, they failed to negotiate and were awful at selling.

Being cynical, I would say they overpriced it 10%-15% in the first place, so valuing it at about £285K to £295K and would have sold it for mid £260Ks, had they not been so bad at selling (of course that buyer could have pulled out, but they did not even try to negotiate, muppets - he obviously made the reduction bigger than he expected, so he could afford to swallow the stamp duty hit and still be well up on the deal).

It's almost a repo sale, out of cash, leaving the house, of course it made the floor price.

An exercise in letting emotion rule their wallets.

Or maybe house prices are falling.

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Or maybe house prices are falling.

Correct, maybe for some houses in some areas. However, there is too much of the "all house prices are going to fall by 40/50/60%" on here. Prices are going to fall for elss desirable properties and given the reduced demand (volumes of sales are down) then rises may be unlikely for many homes. However, people here seize on any reduction in an asking price or from checking the internet to see what a house sold for without actually knowing the property or circumstances. It's a divorce sale, they are out of cash, would you bid them high knowing they have to sell and have been struggling to get it away - I would have bidded about the same, put it that way.... even if I thought it was worth £300K plus, to see how far they would go - if you bid very low and they talk to you then you know that they will take a low bid and you feel them out.

I know of plenty of houses I think are overpriced, I know of a few that are appropriately priced in the currenyt interest rate and job climate and I even know of a couple I think are UNDERpriced (but out of my price league I am afraid).

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And did anyone see Krusty and Phuck at the same time last night. The house the couple bought had been reduced from £500k to £450k by the cash-strapped developers. Krusty stupidly (what else?) offered £430k and they all agreed at £438k.

At no point did K or P suggest that such reductions were out of the ordinary. They just accepted as fact of the market...

FP :D

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And did anyone see Krusty and Phuck at the same time last night. The house the couple bought had been reduced from £500k to £450k by the cash-strapped developers. Krusty stupidly (what else?) offered £430k and they all agreed at £438k.

At no point did K or P suggest that such reductions were out of the ordinary. They just accepted as fact of the market...

FP :D

The last two developments near me that have been sold have been knockdowns of old houses and new ones up

A bought plot for £630K, built two new houses that sold for £820K and £890K

B bought plot for £565K and sold new house for £1.8M

the margins in new houses can be very good..... - and they know some people attach a premium to newnes, so they price accordingly. Does not mean they sell though... - not saying they are cash strapped, not saying anything - they may have wanted off site, they may have needed cash for a more profitable development elsewhere, they may have met their floor target price and be happy, you just don't know...

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one cash offer forthcoming at 265k reduced to 253.5k after survey

What numptie pays £3.5k over the stamp duty threshold ?

Plenty do. I know a guy who paid asking price of £260K. Didn't even think to bargin or know what the stamp duty threshold was until he got a huge bill for it. He then had to borrow money from friends to pay it.

Also used a self employed lie-to-buy mortgage. There are many fools still out there to prop up the market.

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And did anyone see Krusty and Phuck at the same time last night. The house the couple bought had been reduced from £500k to £450k by the cash-strapped developers. Krusty stupidly (what else?) offered £430k and they all agreed at £438k.

At no point did K or P suggest that such reductions were out of the ordinary. They just accepted as fact of the market...

FP :D

That show is really starting to annoy me because they act like Estate Agents. "Yeah I know they said they wanted x but lets show them y which is way over what they said they want to spend"

That and the whole "how dare you not want to spend all of your money on this nice house that we spend a couple of hours finding for you"

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I love the HOUSE DOCTOR.

She has always been quite 'bearish', or at the very least never 'talked the market up'.

Thi series looks like it was filmed last summer, so a bit out of date but still gets the message

to the masses/sheeple which is a good thing.

Kirsty & Phil make me cringe!

Do any of you recall how the dreadful duo got some dopey couple to offer something like 300 grand over the asking price for a house,(in a sealed bid). Then the soppy couple found out (after they had won the bid) what the other couple offered (way-under what they had offered) cos the EA sent them the wrong letter out !!!

I laughed so much I nearly wet myself !!

Shows how much those two know the market !!! NOT ! :lol:

Edited by GAL BEAR

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  • 301 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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