Brighton Area

[5lab]

The cracks are starting to show.

http://www.theargus.co.uk/mostpopular.var....inistration.php

to be fair, that's more to do with a big parent company than a small airport they bought a few years ago. Surprised they grounded all planes though

[i wanna house]

surely the cracks will begin to show in this soon...

i mean are they serious ? 625 K ??

http://www.rightmove.co.uk/viewdetails-201...=1&tr_t=buy

[tigsrenting]

surely the cracks will begin to show in this soon...

i mean are they serious ? 625 K ??

http://www.rightmove.co.uk/viewdetails-201...=1&tr_t=buy

A bargain compared to this little cracker

http://www.rightmove.co.uk/viewdetails-102...=1&tr_t=buy

It's a bungalow on what I classify as The Old Shoreham Road. FFS how did they get that valuation multiply by two and add on an extra 100K

[lotus eater]

A bargain compared to this little cracker

http://www.rightmove.co.uk/viewdetails-102...=1&tr_t=buy

It's a bungalow on what I classify as The Old Shoreham Road. FFS how did they get that valuation multiply by two and add on an extra 100K

A Shoreham EA phoned us last week, after we'd pulled out of a purchase, informing us of this cracker..."got a fountain in the garden". No-one in their right mind would ever pay more than £450K in an ugly road like Upper Shoreham Rd. Certainly not known for location, location. I was so offended that the EA would even consider I'd be seen dead in that sort of house in that road! :angry:

[thirdwave]

Some quotes from the RICS report:

Brighton – East Sussex

Geoffrey Holden FRICS

Parsons Son & Basley

We are busy with take-ons and valuations, but

viewers are in short supply. The properties

getting the most interest are those in need of

work where people feel there’s a margin to

protect/better them should prices slip.

Consistent doom mongering has yet to cause

the fall in prices, but vendors are now resigned

to longer periods on the market and the need

to keenly price when coming on the market.

Hove – East Sussex

Geoffrey Holden FRICS

Parsons Son & Basley

Bad press and predictions of downward trends

in property prices is proving to be unsettling

for purchasers. Vendors’ expectations on price

have to be realistic.

Hove – East Sussex

Martin S Robinson MRICS

Callaways

There is still a pent up demand, but buyers are

being very cautious at present and slow to

make up their mind. Financing is causing a

problem for some, with the need for higher

deposits. Recent, poorly constructed, reports by

local media have not helped.

Now keep up the good work all doom mongers They don't like negative press this lot. What a shame.

They don`t mean the Argus, do they?

[CviewUK]

Not many properties in Shoreham with a cinema AND swimming pool.

Watch out for the speed cameras!

[tigsrenting]

Not many properties in Shoreham with a cinema AND swimming pool.

Especially in a bungalow

[ScoutKemp]

A bargain compared to this little cracker

http://www.rightmove.co.uk/viewdetails-102...=1&tr_t=buy

It's a bungalow on what I classify as The Old Shoreham Road. FFS how did they get that valuation multiply by two and add on an extra 100K

hey, don't be thick...£825K is just for the vintage car in the driveway. The house is actually £1.3m !

[stormymonday_2011]

A bargain compared to this little cracker

http://www.rightmove.co.uk/viewdetails-102...=1&tr_t=buy

It's a bungalow on what I classify as The Old Shoreham Road. FFS how did they get that valuation multiply by two and add on an extra 100K

The owners are clearly delusional and in need of care in an asylum.

At the end of the day it is just another south coast bungalow on steroids (loft conversion, fancy conservatory etc).

It is not as though it is some rock star mansion in St Georges Hill, Surrey.

[reserves]

Mishon Mackay Western Road branch has.......

GONE!

[tigsrenting]

Mishon Mackay Western Road branch has.......

GONE!

WOW, are we talking about the one on the corner of Brunswick? Now are you sure before I break open the veuve rose?

[reserves]

WOW, are we talking about the one on the corner of Brunswick? Now are you sure before I break open the veuve rose?

Yep, walked passed it last night, it's gone for sure! Covered up well, all logo's gone, windows painted, one A4 sheet selotaped to the door with a contact phone number... bless.

Edited April 24, 2008 by reserves

[tigsrenting]

Yep, walked passed it last night, it's gone for sure! Covered up well, all logo's gone, windows painted, one A4 sheet selotaped to the door with a contact phone number... bless.

Rather cruel I know but...................................................

http://www.mishonmackay.com/branches/western-road/

[reserves]

Rather cruel I know but...................................................

http://www.mishonmackay.com/branches/western-road/

They do look happy there...

This thread seems a bit quiet these days, where's everyone ?

The only update I have is that my friend is currently buying a 2 bed flat in Hove (I know, I know, however she has a one time only offer of an interest free loan for half of the flat, but she has to take it now to get it).

She was looking up to £250k and found a flat that was originally advertised at £275k which they accepted her offer of £250k, around the same time she was called to say that 3 sellers with flats from £260 - £275k would all take £250k.

I'm obviously worried about her buying now but her circumstances are pretty unique and I've offered her all the advice I can.

The only way I can think of protecting her from the market is to buy at auction but there's no 2 bed flats coming up at the mo?

[yellerkat]

Rather cruel I know but...................................................

http://www.mishonmackay.com/branches/western-road/

Oh dear they do confirm a lot of EA stereotypes!

This thread seems a bit quiet these days, where's everyone ?

My Propertybee search (small sample of 34+ houses) isn't turning up any significant drops - 5k here, 10k there. I think I should start looking at flats as well.

[yellerkat]

Having said which, this has just popped up:

History

date event

24th Apr 2008

* Brief Description changed: Chain free double fronted period house. Free Double Fronted Period House Three double bedrooms, two receptions, study, bathroom, guest WC. Double Bedrooms, Two Receptions, Study Bathroom, Guest WC, Popular location. Location

* Status changed: from 'Sold STC' to 'Available'

12nd Mar 2008

* Status changed: from 'Available' to 'Sold STC'

8th Mar 2008

* Initial entry found.

Chains collapsing? After 6 weeks "Sold STC?"

http://www.rightmove.co.uk/viewdetails-169...=2&tr_t=buy

ED: for link.

Edited April 24, 2008 by yellerKat

[reserves]

My Propertybee search (small sample of 34+ houses) isn't turning up any significant drops - 5k here, 10k there. I think I should start looking at flats as well.

The drops I'm talking about were never 'advertised' it was more in a phone call from the agent "we've been notified by the vendor that they would accept £250k for such and such"

Therefore these wouldn't show on PropertyBee, same must go for houses.

[castrogtx]

The drops I'm talking about were never 'advertised' it was more in a phone call from the agent "we've been notified by the vendor that they would accept £250k for such and such"

Therefore these wouldn't show on PropertyBee, same must go for houses.

In six months time they will still be ringing round saying they will accept 220k and a year from now - 180K.

[reserves]

In six months time they will still be ringing round saying they will accept 220k and a year from now - 180K.

Maybe...

[tigsrenting]

Maybe...

Talking with some temporarily unguarded EAs in Shoreham yesterday, asked if the spring bounce had started and should I buy now, answer "Naaaaaaa"

Nearly every property on the books had been reduced.

Many BTL properties coming to market as they can't remortgage.

[reserves]

Talking with some temporarily unguarded EAs in Shoreham yesterday, asked if the spring bounce had started and should I buy now, answer "Naaaaaaa"

Nearly every property on the books had been reduced.

Many BTL properties coming to market as they can't remortgage.

The only thing I guess I can suggest for my friend is to gazunder.

What else can someone do who has to buy now and can't wait?

[i wanna house]

The only thing I guess I can suggest for my friend is to gazunder.

What else can someone do who has to buy now and can't wait?

i have a friend who needs to sell now.

What should he do ?

[i wanna house]

And another thing..

is what worries me is there are still tonnes of people want to buy in Brighton. When the prices drop a little more wont they all just pile in and keep the prices relatively high? if you look at the number of replies and views to this thread (320/28,000) compared to say NE hants and surrey(20/3000) does it not indicate there is ALOT of interest in the brighton market ?

(or brightonians just spend too much time on the internet ?

thoughts please

[castrogtx]

i have a friend who needs to sell now.

What should he do ?

Reduce the price dramatically and cross fingers.

[castrogtx]

And another thing..

is what worries me is there are still tonnes of people want to buy in Brighton. When the prices drop a little more wont they all just pile in and keep the prices relatively high? if you look at the number of replies and views to this thread (320/28,000) compared to say NE hants and surrey(20/3000) does it not indicate there is ALOT of interest in the brighton market ?

(or brightonians just spend too much time on the internet ?

thoughts please

Who wants to buy in a falling market. Some sellers (like your friend) are desperate to sell - their most important asset is falling in value. For FTB's the value of their potential first home is falling.

Question: Who can afford to wait? Answer: the buyers.

Add to this that the increased mortgage rates, caused by the rapid contraction of credit, are penalising first time buyers (new customers) even more than re-mortgagees. The banks are clearly pricing in more risk for those who want to enter the current market. Do you think they are wrong to?

So most FTB's are happy to sit and watch prices plummet - while the banks are not really happy to lend them the money to buy in a falling market. Those FTB's that are silly enough to try and enter the market now are often being declined the finance. This is one reason why the crash will be bigger and quicker than the last.

See the following link for how lenders are increasingly uping rates to new customers beyong the rate hikes for existing customers. http://www.telegraph.co.uk/money/main.jhtm...nfinance126.xml