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Hi folks

Thought I'd open a new thread for those South of the Tamar

According to Rightmove prices rose YOY by 8.5% in a market where "House prices exceeded all expectations"

The real story in the area I am watching is that prices are still on average -9.8% down from the high point last year - although there has been an across the board increase in prices in Q1 2006 (see graph)

Thre are about 500 properties advertised in the local agents this figures seems to remain reasonably static despite many NEW's appearing in the local property paper - other properties disappear of the EA's books without selling

My opinion FWIW

There continues to be a Mexican standoff between purchasers and EA's and vendors - some EA's are still valuing property the same as they were 2 years

ago - they are in complete denial that the market is in decline

As usual the very desirable and the reasonably priced sell quickly (this is true in all locations)

Here is one example of the overpriced "glut" of properties that have been sitting on EA's books for years

http://www.rightmove.co.uk/viewdetails-923...pa_n=2&tr_t=buy

It is on the market with 3 separate EA'a and has been for at least 2 years now (it has also been on e-bay) - to my knowldge it has never been Under Offer or SSTC - there are many more like this

Regards

CS

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Hi folks

Thought I'd open a new thread for those South of the Tamar

According to Rightmove prices rose YOY by 8.5% in a market where "House prices exceeded all expectations"

The real story in the area I am watching is that prices are still on average -9.8% down from the high point last year - although there has been an across the board increase in prices in Q1 2006 (see graph)

Thre are about 500 properties advertised in the local agents this figures seems to remain reasonably static despite many NEW's appearing in the local property paper - other properties disappear of the EA's books without selling

My opinion FWIW

There continues to be a Mexican standoff between purchasers and EA's and vendors - some EA's are still valuing property the same as they were 2 years

ago - they are in complete denial that the market is in decline

As usual the very desirable and the reasonably priced sell quickly (this is true in all locations)

Here is one example of the overpriced "glut" of properties that have been sitting on EA's books for years

http://www.rightmove.co.uk/viewdetails-923...pa_n=2&tr_t=buy

It is on the market with 3 separate EA'a and has been for at least 2 years now (it has also been on e-bay) - to my knowldge it has never been Under Offer or SSTC - there are many more like this

Regards

CS

I think its a nice property and I agree with the other post - it looks like a bit of a bargain. If you look into the distance of the one of the views you can see what looks like wind turbines. Maybe this is what is putting people off.

By the way CS - you have a grammatical error in your posting - please pay more attention to detail!

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Hi folks

Thought I'd open a new thread for those South of the Tamar

Here is one example of the overpriced "glut" of properties that have been sitting on EA's books for years

http://www.rightmove.co.uk/viewdetails-923...pa_n=2&tr_t=buy

It is on the market with 3 separate EA'a and has been for at least 2 years now (it has also been on e-bay) - to my knowldge it has never been Under Offer or SSTC - there are many more like this

Regards

CS

Hi CS,

the house looks really nice. Astos is right it does look like wind turbines. Don't know the area at all so can't be sure but maybe there are plans to extend the turbines towards the house.

If that property was around my way it would be around £400K-£450K, probably nearer the 450.

What are your thoughts? Do you think it is over-priced?

Nice part of the World down there.

Cheers

Denzil

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Hi CS,

the house looks really nice. Astos is right it does look like wind turbines. Don't know the area at all so can't be sure but maybe there are plans to extend the turbines towards the house.

If that property was around my way it would be around £400K-£450K, probably nearer the 450.

What are your thoughts? Do you think it is over-priced?

Nice part of the World down there.

Cheers

Denzil

Denzil

Nice to hear from you

Agree the house looks nice - but have a look at the size of the rooms - utility 5 foot square, downstairs bathroom and 1st floor has two rooms 11ft x 8ft it's tiny - it really is very small

The location is OK on the main Helston - Lizard road (if you can call it main) the wind farm is on Goonhilly Downs - I hadn't noticed the turbines but then again I know where it is so didn't study the pictures too closely

My point was it has been on the market for over 2 years - it is on with 3 agents (and on e-bay some time ago) and it has not sold, there are 3 reasons why houses don't sell (Astos you may be able to add more) 1. Not a nice property (clearly not the case here - from the outside anyway), 2. Not a good location (again not the case) or 3. Overpriced - Judging by the fact that anything around this area that meets all 3 sells quickly I think you can assume that the buying populous - including my wife and I, consider it way over priced. It has appeal to the 2nd home brigade, it's too far out and requires too much maintenance for downsizing pensioners - too small for a family home (and there is no employment locally) - if it was below £250 there may be some interest.

If it would bring £450k in Somerset you have my sympathy - I thought it was expensive down here!

Regards

CS

I think its a nice property and I agree with the other post - it looks like a bit of a bargain. If you look into the distance of the one of the views you can see what looks like wind turbines. Maybe this is what is putting people off.

By the way CS - you have a grammatical error in your posting - please pay more attention to detail!

Astos

Touche

I will try harder- sorry

CS

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I think its a nice property and I agree with the other post - it looks like a bit of a bargain. If you look into the distance of the one of the views you can see what looks like wind turbines. Maybe this is what is putting people off.

By the way CS - you have a grammatical error in your posting - please pay more attention to detail!

astos,

surely there should have been an apostrophe in your ' its '. Also shouldn't your other sentence have read "If you look into the distance of one of the views you can see what look like wind turbines"? I think there is an extra 'the' in there and there shouldn't be an 's' at the end of 'looks'. So that's three grammatical errors in two sentences! Please pay more attention to detail! :P

Jock

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My point was it has been on the market for over 2 years - it is on with 3 agents (and on e-bay some time ago) and it has not sold, there are 3 reasons why houses don't sell (Astos you may be able to add more) 1. Not a nice property (clearly not the case here - from the outside anyway), 2. Not a good location (again not the case) or 3. Overpriced - Judging by the fact that anything around this area that meets all 3 sells quickly I think you can assume that the buying populous - including my wife and I, consider it way over priced. It has appeal to the 2nd home brigade, it's too far out and requires too much maintenance for downsizing pensioners - too small for a family home (and there is no employment locally) - if it was below £250 there may be some interest.

If it would bring £450k in Somerset you have my sympathy - I thought it was expensive down here!

CS,

I see the same here. The vendor moves from EA to EA to EA but fails to perform the most obvious task of dropping the price a little to generate some interest. It's interesting psychologically how people instantly wonder what is wrong with a property that has been on the market for a long time and just won't even bother viewing it even if on face value it looks ok.

With that particular property you would think the message may have got through to the vendor by now. It's possible that the vendor will not accept anything below full asking price. From time to time we view properties and I was told by one EA who was showing us around that the vendor would only accept full asking price. "It's not worth looking at the upstairs then", I told the agent, and left.

One thing I've noticed with EA's is that they don't seem to push the multi-agent properties too hard.

Cheers

Denzil

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astos,

surely there should have been an apostrophe in your ' its '. Also shouldn't your other sentence have read "If you look into the distance of one of the views you can see what look like wind turbines"? I think there is an extra 'the' in there and there shouldn't be an 's' at the end of 'looks'. So that's three grammatical errors in two sentences! Please pay more attention to detail! :P

Jock

OK Jock - your english is obviously better than mine!

Me and CS must try harder. Or should that be CS and I

lol

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Hi folks

Thought I'd open a new thread for those South of the Tamar

According to Rightmove prices rose YOY by 8.5% in a market where "House prices exceeded all expectations"

The real story in the area I am watching is that prices are still on average -9.8% down from the high point last year - although there has been an across the board increase in prices in Q1 2006 (see graph)

Thre are about 500 properties advertised in the local agents this figures seems to remain reasonably static despite many NEW's appearing in the local property paper - other properties disappear of the EA's books without selling

My opinion FWIW

There continues to be a Mexican standoff between purchasers and EA's and vendors - some EA's are still valuing property the same as they were 2 years

ago - they are in complete denial that the market is in decline

As usual the very desirable and the reasonably priced sell quickly (this is true in all locations)

Here is one example of the overpriced "glut" of properties that have been sitting on EA's books for years

http://www.rightmove.co.uk/viewdetails-923...pa_n=2&tr_t=buy

It is on the market with 3 separate EA'a and has been for at least 2 years now (it has also been on e-bay) - to my knowldge it has never been Under Offer or SSTC - there are many more like this

Regards

CS

That house is on the main road from Helston to the Lizard. It gets loads of tourist traffic and agricultural lorries going past every day. Ok if you are deaf but not too good for anyone else.

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That house is on the main road from Helston to the Lizard. It gets loads of tourist traffic and agricultural lorries going past every day. Ok if you are deaf but not too good for anyone else.

You a local boy then?

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You a local boy then?

Nope but I do spend a lot of time in the area - looking at houses for sale - but not an incomer willing to pay the silly prices being asked for by the locals.

Edited by nodumsunreader

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I'm sorry. But a pokey 3 bedroom house for £295k is not a bargain in my eyes. Asking prices in this area are far too much. However, the actual selling prices according ourproperty.co.uk and upmystreet are very interesting.

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Nope but I do spend a lot of time in the area - looking at houses for sale - but not an incomer willing to pay the silly prices being asked for by the locals.

Generally it's not the locals that are asking the prices cos' they can't afford to buy the houses anyway - there is a huge amount of EA driven greed - not all incomers to Cornwall are as sensible as you - it amazes me when a property comes on the market priced well above what it's worth, we say "no one in their right mind would pay that much for that place" and sooner but usually later somoene does.

Prices were dropping nicely until the beginning of this year and to my despair they have "bounced", I still believe it cannot be sustained and the crash will come sooner but probably later

I'm sorry. But a pokey 3 bedroom house for £295k is not a bargain in my eyes. Asking prices in this area are far too much. However, the actual selling prices according ourproperty.co.uk and upmystreet are very interesting.

I think all agree with you - the poster who said "it looks like a bargain" was comparing it to other parts of the Country and probably didn't realise just how small some Cornish cottages are

BTW all who have looked at this thread, it has taken me a week to realise that the graph I refrerred to initially didn't attach so here it is again - hopefully

CS

Sold_Price_Stats___Q1_2006_TR13.JPG

post-4404-1149596610.jpg

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Noticed this one in the latest Houseprices.co.uk figures

I wonder what this person would have thought to the addage that property is a good investment

http://www.houseprices.co.uk/e.php?q=TR13+9dw&n=10

All calulations are hypothetical (this is assuming it was IO which it may not have been) but if buyer got a discounted mortgage nothing would have been paid off in the first 2 years furthermore there would likely be a penalty as less than 2 years)

Purchase £265,000

Deposit £100,000

£165,000 IO at 5%

£687.50 X 22 months £15,125

Stamp duty 2.5% of £265k £ 6,625

Solicitors Fees buying £ 750

Solicitors Fees selling £ 750

EA's fees say 1.5% £ 3,749

Loss on Property £15,050

Loss of interest on deposit @say 3% £ 5,500

Total loss £47,549

If the owners paid cash the loss would have been £27k plus whatever interest you got on £265K in the bank so would have been nearly as much

Possibly someone had somewhere to live for 2 years? but I expect this is 2nd home due to its location (I will check it out next week)

- this property overlooks the harbour in Porthleven - see position on map and photo below

http://www.streetmap.co.uk/newmap.srf?x=16...p=newsearch.srf

Porthleven_Pic.JPG

Property can only ever go up!

CS

post-4404-1152089427.jpg

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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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