benno1uk Posted August 21, 2008 Share Posted August 21, 2008 (edited) Lack of City money started the London and SE downturn. Repos will make it very big.Thanks Benno - most constructive. When you have something useful to say... Fine. Just trying to balance things out a bit - it's best not to get people's hopes up too much in case it doesn't work out. That's all. Edited August 21, 2008 by benno1uk Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted August 29, 2008 Author Share Posted August 29, 2008 5 bedroom detached for sale Shambrook Road, Cheshunt, EN7 £575,000 Extremely well presented five bedroom detached home benefiting from recently fitted luxury kitchen\breakfast room, three reception rooms, conservatory, two en suites and south facing rear garden. Double garage. History 27 August 2008  Price changed: from '£649,995' to '£575,000' 15 August 2008  Initial entry found. Marketed by Haydens, Goffs Oak. Keep 'em coming. Quote Link to comment Share on other sites More sharing options...
rettah Posted August 29, 2008 Share Posted August 29, 2008 £575,000 for a house in cheshunt?!! whatever next......... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted August 31, 2008 Author Share Posted August 31, 2008 The Cheshunt house is a big very attractive property but of course still in cuckoo land prices. However... Lanthorn Close, Broxbourne, EN10 £340,000 A most outstanding four bedroom detached house situated amidst this popular residential developement to the west of Hoddesdon town centre. This lovely home offers well planned accommodation and an early internl viewing is recommended. 31 August 2008 * Price changed: from '£425,000' to '£340,000' Marketed by Gibsons Chartered Surveyors, Upminster. Goodness knows why an Upminster EA is selling in Broxbourne. Even so... it's happening. Quote Link to comment Share on other sites More sharing options...
garybug Posted September 1, 2008 Share Posted September 1, 2008 Where do you see the bottom for these types of property? I am seeing £300k at the peak (Aug. 07) now £50k down. I would be surprised (but welcome ) these dropping sub £180k at the absolute bottom - given the area & access to the City. My budget is £170k, so I'd be interested to what others think will be available for this price at 'the bottom'. Rightmove links appreciated G Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted September 1, 2008 Author Share Posted September 1, 2008 Where do you see the bottom for these types of property? I am seeing £300k at the peak (Aug. 07) now £50k down. I would be surprised (but welcome ) these dropping sub £180k at the absolute bottom - given the area & access to the City. 200 certainly. 150 possibly. But don't expect them to be marketed thus. You'll have to haggle. Quote Link to comment Share on other sites More sharing options...
Show me the Money! Posted September 2, 2008 Share Posted September 2, 2008 The Cheshunt house is a big very attractive property but of course still in cuckoo land prices. However...Lanthorn Close, Broxbourne, EN10 £340,000 A most outstanding four bedroom detached house situated amidst this popular residential developement to the west of Hoddesdon town centre. This lovely home offers well planned accommodation and an early internl viewing is recommended. 31 August 2008 * Price changed: from '£425,000' to '£340,000' Marketed by Gibsons Chartered Surveyors, Upminster. Goodness knows why an Upminster EA is selling in Broxbourne. Even so... it's happening. I must admit I saw this and couldn't work out why use an agent miles away from where it's located, anyway just noticed it's sold!! Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted September 4, 2008 Author Share Posted September 4, 2008 I must admit I saw this and couldn't work out why use an agent miles away from where it's located, anyway just noticed it's sold!! A 20% drop and its sold. Funny that! NOT! The agent was on the web hence they're based elsewhere. Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 4, 2008 Share Posted September 4, 2008 200 certainly. 150 possibly. But don't expect them to be marketed thus. You'll have to haggle. Had a lovely chat with an EA today, he said business is 'dire' and yes we know that but he said they are getting loads of offers in just too low. He pointed out 2, one is an ex la at 275 they have had 3 offers at 250 but vendor 'cant afford' to accept. I challenged this and he agreed, he showed me another that was on for 309, now 299, they have a cash offer for 275 and wont accept. He's tried to talk them into taking but they wont budge, his advice was to sell ASAP and rent for 6 months and put the 100k in the bank. yes thats right they would still make 100k clear profit after fees if they took 275 and they wont budge. I'm due to sign another years lease in November as so am having a look round but looks like I'm stuck here for another year. I think it may still be a while..... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted September 5, 2008 Author Share Posted September 5, 2008 I'm due to sign another years lease in November as so am having a look round but looks like I'm stuck here for another year. I don't get you Greenie. You make it sound as if its terrible renting when prices are falling by more than your rent! Me, I'm lovin' it. If you don't like the property there are loads more in a 3 mile radius. Hardly a commute. Where's that coffee? Quote Link to comment Share on other sites More sharing options...
ROCCO1 Posted September 5, 2008 Share Posted September 5, 2008 Hi guys...new to the site although been lurking for a good couple of years now. STR in April 08. Currently renting in Loughton, thought i would share with you guys that a massive chain of estate agents Churchill Estates has just gone in to administration they had 10 branches W Essex/London and another 2 fine and country branches in Loughton and Chigwell (last one only opened last month!), practically one of the biggest players in the area. Anyway keeping a close eye on prices around here, as of yet same old stuff on which has been on the market for yonks, with very small price reductions ( if there is a big price reduction it was overpriced to begin with, even at 2007 prices) still has not sunk in yet that prices have come off yet to most vendors. Know of one house 4 bed det buckhurst hill, up for £550,000, reasonably good road. Sale fell through about 4 months ago apparently at full asking. Spoke to the agent (Churchill Estates, lol) at the time and said there was two offers at 500, but the vendor is not intrested in budging a penny. Oh well still on the market then. Still dont know how long it will be to the hpc sinks in around here. Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 6, 2008 Share Posted September 6, 2008 I don't get you Greenie.You make it sound as if its terrible renting when prices are falling by more than your rent! Me, I'm lovin' it. If you don't like the property there are loads more in a 3 mile radius. Hardly a commute. Where's that coffee? Falling prices only make me happy when the house I want to buy are falling, atm they're not. According to the EA they are getting plenty of offers at aroung 25k less than asking but sellers wont budge, that still leaves them way over the price I'd pay. I moved to the village for the lifestyle, I don't want to commute, which would entail a car journey to two seperate schools then another to work, then the same back again with my kids stuck in a polluting car instead of walking to school/catching the train with friends. I love not being able to walk from one end of the high street to the other without saying hello to at least 2 people, I love going into a shop and the shopkeeper speaks to me, the same as it was when I grew up before 'progress' as you call it happened. I'm delighted I have found somewhere that my kids can have that, this is my home. I str as I wanted to live here but at that time the outside EA's discovered this 'little goldmine' and started tacking 50k plus onto the prices which is why we rented, that and we were as sure as we could be we were on the verge of a crash. Renting has only ever been a short term plan, it was simply that as a couple with above average earnings, a reasonable deposit and no debt we feel we have earned a nice home. Money is not a driving force for me, siting outside a riverside pub in the summer and knowing I can enjoy a glass of blush - or three if I like as I can walk (or stagger) home makes me happy, seeing my little boy laughing with his friends he's met on the way to pre school and so going into class happy and relaxed as opposed to me stressing and battling the other scrummies trying to find a safe parking space and running him in alone makes me happy and so on. I don't love my house, yes its very nice but the kitchen needs replacing, their colour scheme leaves a lot to be desired and yes we can paint which we have done to 2 of the worst rooms but we have to paint it back before we go, thats the last thing I need on top of moving, and so on, it's not my home. I am renting as a means to an end, I didn't make a fortune str, I'm not hovvering to pick up a btl bargain, I'm simply waiting for prices to return to reasonable which is what they always should have been. Sad as it is going round diy and furniture stores at weekends choosing things to make my home nicer makes me - and my Husband happy, I cant do that again for what is looking increasingly like yet another year - which will total 3, pi sses me right off and so I have the odd grizzle about it - same as I have the odd happy moment when something positive towards my goal happens. Money in the bank does not make me happy if i cant spend it, its just sat there waiting, gaining interest, yes which is very cool, (and yes that bit does make me happy) but what'll make me really happy is when I can spend it on a home, both buying one and making it into one. A lot of men on here complain that their partners are nagging to buy a house, that is one of the wonderful diffrences between men and women, men see things more logically as a general rule, women more emotionally, thats why we compliment so well, yes of course I see the logic in renting thats why i'm here, but my driving force is emotions, a major part of who I am is a wife and Mum, and I want all the above for them. As a wife and Mum what surrounds me most is nurture, as a Financial Planner what surrounds you most is money, so of course we are poles apart but we have of course a massive common interest, I 'get' you FP, you talk an awful lot of sense, youre clearly one clever dude so why on earth cant you 'get' me? BTW, if you do a search for rentals in SA you might find rents aint such a bargain at atm... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted September 6, 2008 Author Share Posted September 6, 2008 Falling prices only make me happy when the house I want to buy are falling, atm they're not. Balls. They have fallen 15+ % in SE England. What you're talking about are asking prices. They can ask a billion pounds - they'll still not sell. The market is determined by the marginal price and the marginal price is at least 15% down. Please stop sayig prices haven't fallen 'cos they have. Any property which has sold has sold for much less than last year. we were as sure as we could be we were on the verge of a crash. You make it sound as if November last year it was not the verge. It had already started. So you were bang on. What's the problem? Renting has only ever been a short term plan, it was simply that as a couple with above average earnings, a reasonable deposit and no debt we feel we have earned a nice home. And you have one. What's the problem? Are stigmatised that you're 'only' renting? FFS. Your family will see you as flaming geniuses soon. Already they're wondering it. I am renting as a means to an end, I didn't make a fortune str, I'm not hovvering to pick up a btl bargain, I'm simply waiting for prices to return to reasonable which is what they always should have been. You did stop yourself from losing a fortune. That is the same as making one. So you did make one. You're always complaining and yet you sold at the top of the biggest asset bubble in history. That is why I don't get you. You should be laughing yet you're complaining!!!!!!! Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 6, 2008 Share Posted September 6, 2008 I suggest you re read my posts, I said it only matters when the house I want to buy has fallen, prices in the south East could have fallen 99% for all it matters to me I will only buy a house I love and want to live in, the houses I want to buy wont accept my offers so they have not fallen yet so no I will not stop saying they havent fallen. If I'd bought a house x years ago and it had gone up in value by 100k that'd only mean something to me if I wanted to sell. If house values go down it only matters to me when I buy, if the owner wont accept my offer thats that, I cant put it any plainer than that. I never said November last year it was the year before when we were still in the peak. I have never ever said I have felt stigmatised by renting, never so much as even hinted at such a thing, I grew up in a council flat, I don't do stigma, I am quite comfortable with who I am and have never pretended to be anything else. If I allowed myself to feel stigmatised then I'd probably be in debt - no I'd certainly be because I'd need the same as everyone else but I live within my means, I'm not saying me and my family go without because my Husband and I have always worked hard so we dont, but I know the difference between want and need, I also no it's ok to want sometimes, I was born what some would call a Chav, I could have stayed on the council estate never working and dragging up kids but I didnt, I wanted to move up and that had nothing to do with stigma, I was then as I am now in a place I didn't want to be, difference is I could do something about it then. Our house was only ever on a maximum of 3 years as the owner is on a 3 year contract abroad, I have bonded with my neighbours and cant settle as its not my home, its someone elses, if they fancy they can tell me to leave this year if they like and if his job goes t1ts up he might just do that, he's in the shipping industry in Hong Kong, how's that going? I have literally had to withhold rent to get jobs done, when the kitchen tap broke and we had to turn off the water on the Thursday we were told no one would be available till Monday, I had a mothers group booked at mine and oh how we laughed when someone wanted the toilet and I had to put the water on causing the tap to gush water splashing me and everything else, they have done everything on the cheap and it's not how I want to live, I hate being at the mercy of a twit in an office. I am going by what's going on at the moment, yes it's lovely when people say I was right about prices dropping, I have managed to put 3 lovely people off buying and one I didn't she went ahead anyway, her choice, but I did as you did put my money where my mouth is, and yes if I could go back I would do exactly the same again, maybe selling 6 months later and making a bit more, but hey better 6 months too early than 6 days too late, and yes I would still moan about it, yes when the crash has happened and I'm hailed as a genius I shall live in that moment too and be very gracious in accepting my title. I hate renting as its frustrating the wikipedia definition sums it up perfectly = Frustration is an emotional response to circumstances where one is obstructed from arriving at a personal goal.[1] The more important the goal, the greater the frustration. It is comparable to anger and disappointment. Why is that so wrong to you? Just because someone sees something from a different viewpoint to yours they dont have to be wrong, yes I didnt lose a fortune in the housing boom, I didnt go to the bookies today and didnt lose a fortune there either, I never wanted this bubble in the first place, what I want is to buy a house in an a place I love, make it how we want it and gradually pay it off so when we retire we live rent free, and? I cant settle knowing i'll have to leave when someone else says I have to - thats why I didn't get a liar loan or an 8x salary mortgage I may not be able to comfortably afford and the bank kick me out. At this point in my life I want a house to make into a home, make it nice and keep it so, that might not be important to you and a lot of people but at the moment its my priority, once thats achieved then I'm sure I'll get a new goal. I'm not always complaining, I come on here same as you and offer my point of view anacdotes and so on, I respect your point as well as other peoples, it wouldnt hurt you to do the same, I actually think you can be quite rude toward me. My posts are no more negative than anyone elses, I'm always polite and honest and I am always quick to post good news too, I want that as much as anyone. As I said my lease is up end of November we keep a close eye on the market and the hope is always that if a bargain (!) pops up were waiting to grab it but it seems - and feel free to correct me if I'm wrong, that although this is the biggest and quickest crash in history due to the scale of the bubble and information available mainly due to the internet, it will be at least another year before we get the real benefit of the big drops. If everyone was so happy renting this site wouldnt exist, noone would give a flying fig about price drops as they'd have no interest in buying so don't make out i'm so wrong. Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 6, 2008 Share Posted September 6, 2008 Sorry ROCCO1, welcome, I apologise for ignoring you, please stick around it's not always like this! And you wouldn't happen to be an EA from Hoddesdon would you?!?! Quote Link to comment Share on other sites More sharing options...
the primitive Posted September 7, 2008 Share Posted September 7, 2008 If everyone was so happy renting this site wouldnt exist, noone would give a flying fig about price drops as they'd have no interest in buying so don't make out i'm so wrong. Have to agree with you. Would hate to be renting, that's the way 90% of people are. Also agree that I am simply not seeing price drops. My property bee search has thrown up about 3 price drops in a month, and the no. of properties for sale (£250-550K, 4 bed+ houses in Bishops Stortford) has dropped from 140 to 118. No idea if they are all sold, or just removed from the market. Lots going to sold STC, the odd one going back, but not many. Asking prices are still 15-20% ABOVE what they were when we moved in 2005 (2nd time buyers then). FP is obviously right about asking prices not being the same as selling prices, but no way would any seller accept 15-20% below, the sold houses I am seeing is proof they are not having to accept these offers - people are still paying near the asking. I want another 40% off, and it will not happen until we get mass unemployment IMHO, which there is little sign of yet. It's not a nice position to be in hoping for unemployment, but this seems to bring out the worst in us all from what I can see. another 2 years at least Quote Link to comment Share on other sites More sharing options...
Show me the Money! Posted September 7, 2008 Share Posted September 7, 2008 Have to agree with you. Would hate to be renting, that's the way 90% of people are.Also agree that I am simply not seeing price drops. My property bee search has thrown up about 3 price drops in a month, and the no. of properties for sale (£250-550K, 4 bed+ houses in Bishops Stortford) has dropped from 140 to 118. No idea if they are all sold, or just removed from the market. Lots going to sold STC, the odd one going back, but not many. Asking prices are still 15-20% ABOVE what they were when we moved in 2005 (2nd time buyers then). FP is obviously right about asking prices not being the same as selling prices, but no way would any seller accept 15-20% below, the sold houses I am seeing is proof they are not having to accept these offers - people are still paying near the asking. I want another 40% off, and it will not happen until we get mass unemployment IMHO, which there is little sign of yet. It's not a nice position to be in hoping for unemployment, but this seems to bring out the worst in us all from what I can see. another 2 years at least Prices around here are not heading south at any kind of speed, my partner and I have made offers on a couple of properties in Hoddesdon and Broxbourne all at least 10% below asking and all have been refused, however they are all still for sale. If prices are falling in London and all of the other surrounding areas then the area we live in is not immune, if it's carnage in the labour market for the city then we may see a lot more realistic prices. EA's are telling us that we are in such a powerful buying position as we are renting at the mo and when we view any property you will not believe how the sellers go overboard on making us their friends knowing what position we are in with no chain behind us. Hang in there I believe we are not that far away from a decent size drop in prices. Quote Link to comment Share on other sites More sharing options...
garybug Posted September 10, 2008 Share Posted September 10, 2008 (edited) Also agree that I am simply not seeing price drops. My property bee search has thrown up about 3 price drops in a month, and the no. of properties for sale (£250-550K, 4 bed+ houses in Bishops Stortford) has dropped from 140 to 118. No idea if they are all sold, or just removed from the market. Lots going to sold STC, the odd one going back, but not many. Hi Prim I saw this & thought of you ... http://www.rightmove.co.uk/property/228155...ilupdates_Aug08 Now I may be wrong, but I thought this was starting to drift into the 'reasonable price?' category - given that no SD is payable, and another 10% off after haggling might be forthcoming. Don't know the area though Thoughts? Edited September 10, 2008 by garybug Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 10, 2008 Share Posted September 10, 2008 Hi everyone, not going to quote you all, but yes I totally agree, houses that are selling are going for much less but its getting the offers accepted. Did you see the ITV news yesterday re the Rics figures? EA's selling less than 1 house a week, prices crashing, but they did a survey and most people still think their house is worth far more than it is, although their valuations are not going to be from an EA trying to get an instruction or please a vendor. It's all good stuff though as it needs to get through to sellers that prices are falling. I'm giving up looking for the moment, it's too depressing! Were signing another year in November, concentrate on getting the house as nice as we can and Christmas then see whats going on then. What does annoy me tho is all the 'experts' saying its due to the credit crunch and things will pickup when more funds become available, it's not at all it's because the repayments/deposits are too huge! Quote Link to comment Share on other sites More sharing options...
the primitive Posted September 10, 2008 Share Posted September 10, 2008 Hi PrimI saw this & thought of you ... http://www.rightmove.co.uk/property/228155...ilupdates_Aug08 Now I may be wrong, but I thought this was starting to drift into the 'reasonable price?' category - given that no SD is payable, and another 10% off after haggling might be forthcoming. Don't know the area though Thoughts? Hmmm. Not too bad I guess. not that nice though. I already have a 3-bed terrace! NOt the greatest area I think, never actually been up there. Bit close to teh stansted flight path probably Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 10, 2008 Share Posted September 10, 2008 My friend has just had her house valued by 2 seperate agents, the ceiling price in her road is 395, oct 2007, identical to hers. They valued hers at 425, will put it on for 410 for a sale in2-4 weeks. I give up... Quote Link to comment Share on other sites More sharing options...
DoctorJ Posted September 11, 2008 Share Posted September 11, 2008 My friend has just had her house valued by 2 seperate agents, the ceiling price in her road is 395, oct 2007, identical to hers.They valued hers at 425, will put it on for 410 for a sale in2-4 weeks. I give up... next experiment.....does it sell? we'll see.... Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 11, 2008 Share Posted September 11, 2008 (edited) next experiment.....does it sell? we'll see.... Course it blinking flippin wont, it's now one of 6, albeit if differing sizes and styles, but same essentially that have been coming on since last year, not one has shifted since I added property bee on 23rd Jan. A few have STC and come back on tho... Edited September 11, 2008 by Greenstuff Quote Link to comment Share on other sites More sharing options...
boredwithforum Posted September 11, 2008 Share Posted September 11, 2008 (edited) Greenstuff - where abouts we talking ? Ive been watching the Broxbourne / Nazeing Area's for a few months now, Broxbourne is holding up quite well, Nazeing is starting to dip abit and a few properties are just being withdrawn, I want to see prices get alot lower edited - spelling errors Edited September 11, 2008 by spark1 Quote Link to comment Share on other sites More sharing options...
Greenstuff Posted September 12, 2008 Share Posted September 12, 2008 (edited) Greenstuff - where abouts we talking ? Ive been watching the Broxbourne / Nazeing Area's for a few months now, Broxbourne is holding up quite well, Nazeing is starting to dip abit and a few properties are just being withdrawn, I want to see prices get alot lower Ware Yes there are some price drops, what really niggles me are the 3k 5k ones, ffs as if thats going to help! I mean, who wouldn't make an offer of that amount? 5k over wouldnt put you off looking but 50 would! Edited for spelling as usual Edited September 12, 2008 by Greenstuff Quote Link to comment Share on other sites More sharing options...
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