Mr. Piddle Posted April 8, 2011 Share Posted April 8, 2011 BANG!! http://www.rightmove.co.uk/property-for-sale/property-28837309.html Property Bee History date event 08 April 2011 * Brief Description changed: REDUCED! A PRICED TO SELL! * Price changed: £219,950 Offers in Excess of £185,000 07 February 2011 * Price changed: from '£229,950' to '£219,950' 19 January 2011 * Price changed: from '£234,950' to '£229,950' 06 January 2011 * Initial entry found. ********** Still waaaaaaaaaaaay over my price limit and not something I'd consider but always good to see a 20% reduction in little more than 3 months ... panic???!! Or maybe it was 25% overpriced to start with?! Interesting to see the EA/vendor tactics tho. If you are interested in this area there is a nice 2 bed flat for £110k - Corpse removed although stench still lingering! http://www.rightmove.co.uk/property-for-sale/property-29500579.html Quote Link to comment Share on other sites More sharing options...
danlee74 Posted April 8, 2011 Share Posted April 8, 2011 If you are interested in this area there is a nice 2 bed flat for £110k - Corpse removed although stench still lingering! Thanks ... I think I'll pass!! What do you think happened there? Death, repo or pi55ed off tenant who doesn't want to go so made the place look a complete hole? I do like the 20% reduction on the property I highlighted above tho ... if we can get that replicated across the area I'd be starting to look (obviously offering lower tho!). Out of interest, how many people frequent this area of the forums, how many have access to Property Bee (an essential tool imo) and what has everyone been seeing during 2011? I also use houseprices.co.uk (as detailed earlier in this thread) to calculate the value of a place working on an estimate of 3% inflation per annum given a start point of value from around 2000. FWIW I have started to see some decent reductions on stuff on and above £200k but only 5/10k and slow reductions on anything below that price? For example the property above (235 down to 185k) and I saw earlier in the week (but cannot find again) a 250 down to 200. I am looking around for a decent bloke pad on the main commuter routes (I am an AFCB fan who likes away trips to London!) around town for no more than 100k ... I can see stuff which I'd like to view but it all asks around 125k. A 20% fall there would put it on the money for me!! Other comments and opinions would be appreciated! Cheers!! Quote Link to comment Share on other sites More sharing options...
danlee74 Posted April 8, 2011 Share Posted April 8, 2011 This property was among those that met my criteria on the daily Rightmove search: http://www.rightmove.co.uk/property-for-sale/property-28488808.html - according to Property Bee, price changed today from 135,950 to "*GUIDE PRICE £120,000 - £140,000 BETWEEN THE DATES OF 17/12/10 - 17/01/11 *". hahaha! So when the EA has failed to sell it by 18/01/11 they'll just put the price back up and not take the hint that it is overpriced in the first place?! I would like some of the happy pills that some EA's must be taking on a daily basis!! I note that this old favourite is no longer there: 2 bedroom flat for sale * IDEAL BUY TO LET INVESTMENT! 6.4% YIELD * St. Albans Crescent, Chrminster, Bournemouth, BH8 Offers in Excess of £119,950 *GUIDE PRICE: £119,950 - £140,000. OFFERS TO BE SUBMITTED BY NO LATER THAN 28TH FEBRUARY 2011 AT 8:30PM VIA www.oapa.co.uk (Reference number: PFL294) * IDEAL BUY TO LET INVESTMENT! 6.4% YIELD * This apartment was previously sold in June 2007 for £187,000! * Early viewing is strongly recommended! * Marketed by PFL Lettings, Management & Property Investments, Poole. Telephone: 01202 744600 So checking with houseprices.co.uk that would be: 22/06/2007 £187,000 Flat L No Map Flat 4, 24, St Albans Crescent, Bournemouth, BH8 9EW It will be interesting to watch to see what happened with it ... was it removed (as in "I couldn't get what it was 'worth' ") or sold, if so at what price. Quote Link to comment Share on other sites More sharing options...
Mr. Piddle Posted April 8, 2011 Share Posted April 8, 2011 Thanks ... I think I'll pass!! What do you think happened there? Death, repo or pi55ed off tenant who doesn't want to go so made the place look a complete hole? I do like the 20% reduction on the property I highlighted above tho ... if we can get that replicated across the area I'd be starting to look (obviously offering lower tho!). Out of interest, how many people frequent this area of the forums, how many have access to Property Bee (an essential tool imo) and what has everyone been seeing during 2011? I also use houseprices.co.uk (as detailed earlier in this thread) to calculate the value of a place working on an estimate of 3% inflation per annum given a start point of value from around 2000. FWIW I have started to see some decent reductions on stuff on and above £200k but only 5/10k and slow reductions on anything below that price? For example the property above (235 down to 185k) and I saw earlier in the week (but cannot find again) a 250 down to 200. I am looking around for a decent bloke pad on the main commuter routes (I am an AFCB fan who likes away trips to London!) around town for no more than 100k ... I can see stuff which I'd like to view but it all asks around 125k. A 20% fall there would put it on the money for me!! Other comments and opinions would be appreciated! Cheers!! I am looking for something fairly similar, up to £125k, a decent 2 bed is ideal for me, but likewise i'm not prepared to pay over the odds and would far sooner wait for the right property to come up at the right price. I use similar information when looking although apart from the odd few places it looks as though most sellers are holding out expensive asking prices in the hope that someone with more cash than sense will come and buy. I think it's still worth waiting, there's no point getting yourself into more debt with a mortgage that what you can comfortably afford and still have a good life at the same time. Have you been to see the flat in St Albans Crescent? It sounds like a repo and they will prob take what they can get, might be worth putting in a low offer, they can only say no! Quote Link to comment Share on other sites More sharing options...
juvenal Posted April 19, 2011 Share Posted April 19, 2011 http://www.bournemouthecho.co.uk/news/8981412.Bournemouth_University_announces_tuition_fees/ 9K a year tuition fees to do popular courses at Bournemouth Uni? Wonder what 2012 recruitment figues will look like?. And what the effect might be on student housing in Winton, Charminster etc. Quote Link to comment Share on other sites More sharing options...
cartimandua51 Posted April 20, 2011 Share Posted April 20, 2011 http://www.bournemou...s_tuition_fees/ 9K a year tuition fees to do popular courses at Bournemouth Uni? Wonder what 2012 recruitment figues will look like?. And what the effect might be on student housing in Winton, Charminster etc. I was involved in student letting from 1999 till last year, and expected demand to fall both when fees were first introduced and when they went up to £3K - not a flicker. Bournemouth does seem to have a lot of students whose Mummies & Daddies would have liked them to go to Exeter but they didn't get the grades, so subsidies from BOM&D seem to be the order of the day. And it does have a high post-graduation employment rate. So, I would think probably not much; BTL LLs in the more outlying areas( ?Boscombe?)may suffer but I'd think Winton, Charminster & the tpwn centre will carry on much as before. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted April 20, 2011 Share Posted April 20, 2011 Another big drop 259,950 down to 210,000 ... 50k (about 20%) but it took a year: http://www.rightmove.co.uk/property-for-sale/property-26082265.html?premiumA=true PB History 20 April 2011 * Price changed: £229,950 Offers in Excess of £210,000 13 March 2011 * Price changed: from '£218,500' to '£229,950' 06 January 2011 * Price changed: from '£229,950' to '£218,500' 05 November 2010 * Price changed: from '£239,950' to '£229,950' 18 September 2010 * Price changed: from '£244,950' to '£239,950' 20 July 2010 * Price changed: from '£249,950' to '£244,950' 23 June 2010 * Price changed: from '£259,950' to '£249,950' 25 May 2010 * Initial entry found. As always it is waaaaay beyond my price range and wants/needs but always good to see decent drops ... again, I am not sure if this was not overvalued in the first place either but it gives me cheer, I hope it gives you all the same! Also, this is obviously the asking price - I wonder what the final selling price will be? I am thinking possibly lower than 200k. Point of note: notice the cheeky price rise in March ... trying to take advantage of the annual "spring bounce" but big FAIL! Quote Link to comment Share on other sites More sharing options...
danlee74 Posted April 20, 2011 Share Posted April 20, 2011 Another reasonable %age drop - 152,950 down to 129,950 or 23,000 off or 15% : http://www.rightmove.co.uk/property-for-sale/property-32164010.html PB History 20 April 2011 * Price changed: from '£139,950' to '£129,950' 11 April 2011 * Price changed: from '£149,950' to '£139,950' 05 March 2011 * Price changed: from '£152,950' to '£149,950' 14 January 2011 * Price changed: from '£149,950' to '£152,950' 13 January 2011 * Initial entry found. This happened in just over 3 months, however, it needs another drop about the same again to represent "value" in my opinion. I'll post it again if it re-appears on my daily search at a lower price, and if I remember!! Quote Link to comment Share on other sites More sharing options...
danlee74 Posted April 20, 2011 Share Posted April 20, 2011 Last one for the day ... drop from 114,950 to 100,000 (down 13%) within just over 2 months: http://www.rightmove.co.uk/property-for-sale/property-18116478.html PB History 20 April 2011 * Price changed: from '£114,950' to '£100,000' 19 February 2011 * Initial entry found I wonder if this is the start of the second leg down? ... ... ... if the same happens here (i.e. 20 June 2011 100,000 to 85,000) I'd be seriously thinking of taking a look. Obviously offering lower if it was suitable . Quote Link to comment Share on other sites More sharing options...
cartimandua51 Posted April 20, 2011 Share Posted April 20, 2011 Last one for the day ... drop from 114,950 to 100,000 (down 13%) within just over 2 months: http://www.rightmove...y-18116478.html PB History 20 April 2011 * Price changed: from '£114,950' to '£100,000' 19 February 2011 * Initial entry found I wonder if this is the start of the second leg down? ... ... ... if the same happens here (i.e. 20 June 2011 100,000 to 85,000) I'd be seriously thinking of taking a look. Obviously offering lower if it was suitable . Note the all electric heating, combined kitchen/lounge, £700pa service charge and 77 year lease........ Quote Link to comment Share on other sites More sharing options...
juvenal Posted April 20, 2011 Share Posted April 20, 2011 I was involved in student letting from 1999 till last year, and expected demand to fall both when fees were first introduced and when they went up to £3K - not a flicker. Bournemouth does seem to have a lot of students whose Mummies & Daddies would have liked them to go to Exeter but they didn't get the grades, so subsidies from BOM&D seem to be the order of the day. And it does have a high post-graduation employment rate. So, I would think probably not much; BTL LLs in the more outlying areas( ?Boscombe?)may suffer but I'd think Winton, Charminster & the tpwn centre will carry on much as before. Tend to agree. The interesting point will be if courses are actually cut because they can't recruit enough for them. That would actually reduce numbers and thus the need for accomodation. Some courses are currently recruiting poorly, but nextyear will see the real fallout, if there is to be one. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted April 20, 2011 Share Posted April 20, 2011 Note the all electric heating, combined kitchen/lounge, £700pa service charge and 77 year lease........ Yes, I had seen that there would have to have to be quite a bit of work done to it (gfch installation, bathroom revamp) ... I did say that I would be "seriously thinking of taking a look" and that I'd offer below an 85k price tag too, if I thought it was worth a punt. It could be turned into a good bloke pad! Quote Link to comment Share on other sites More sharing options...
danlee74 Posted May 2, 2011 Share Posted May 2, 2011 Went for a cycle through West Moors today and was reminded of a build I was interested in back when it was a new build in 2004. Nice to see that the latest sale (and the only sale past Jun-06) is below the 2004 prices ... http://www.houseprices.co.uk/e.php?q=BH22+0HH&n=100 I looked at these when they were being built (walked around a top floor build in a hard hat!) but decided that they were overpriced for what they were ... seems that I was right!! Flat 16 sold at 127k Apr-04 but only 125.5k Aug-10, happily my savings have appreciated in that time whilst the "property price always goes up" brigade would have seen a reversal in that time. Doesn't stop current vendors and EA's holding ridiculous valuations tho: http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=POSTCODE^3629560&insId=3&radius=0.0&displayPropertyType=&minBedrooms=&maxBedrooms=&minPrice=&maxPrice=&retirement=&partBuyPartRent=&maxDaysSinceAdded=&_includeSSTC=on&x=62&y=2&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false (- in case the link doesn't work simply put BH22 0HH into the main "Find property in" box, no other criteria) Any other stories out there to match this? Quote Link to comment Share on other sites More sharing options...
Mr. Piddle Posted May 6, 2011 Share Posted May 6, 2011 I don't suppose anyone has £600k I could borrow??? http://www.rightmove.co.uk/property-for-sale/property-32939480.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=region-4m&utm_term=buying&sc_id=4497234 My kind of home!!!!!!! Quote Link to comment Share on other sites More sharing options...
danlee74 Posted May 6, 2011 Share Posted May 6, 2011 I don't suppose anyone has £600k I could borrow??? http://www.rightmove.co.uk/property-for-sale/property-32939480.html?utm_content=ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=region-4m&utm_term=buying&sc_id=4497234 My kind of home!!!!!!! That is one big drop - 795k down to 600k!! 25% in just over 2 months. Also: http://www.rightmove.co.uk/property-for-sale/new-homes/property-32762240.html - 960k to 800k in 3 months (16%) http://www.rightmove.co.uk/property-for-sale/new-homes/property-31671566.html - 470k to 380k in 7 months (19%) At the other end of the scale: http://www.rightmove.co.uk/property-for-sale/property-31870748.html - 62.5k to 45k in 7months (28%) Drops all over the shop ... the question is, were these properties ludicrously overpriced to start with (so that the EA can slap a "REDUCED BY £xxk" sticker on it) or is this more of a sensible downward shift on property prices in the Bournemouth +10 miles area? I am obviously hoping for the latter although it is a really painfully slow watch! It was good to see Nationwide as a negative mom in peak selling season tho. I wonder if Halifax will show something similar, or something more substantial like a -1% or even with the miracle that is seasonal adjustments show a positive. Also good to see -1.1% from Land Registry for Mar-11 too! Could the next few months be start of something wonderful?! Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted May 6, 2011 Share Posted May 6, 2011 I was involved in student letting from 1999 till last year, and expected demand to fall both when fees were first introduced and when they went up to £3K - not a flicker. Bournemouth does seem to have a lot of students whose Mummies & Daddies would have liked them to go to Exeter but they didn't get the grades, so subsidies from BOM&D seem to be the order of the day. And it does have a high post-graduation employment rate. So, I would think probably not much; BTL LLs in the more outlying areas( ?Boscombe?)may suffer but I'd think Winton, Charminster & the tpwn centre will carry on much as before. Bournemouth also does a massive trade in language students, although I think the more lucrative end is in lodging with families. Government policy may hit that as well. Quote Link to comment Share on other sites More sharing options...
juvenal Posted May 6, 2011 Share Posted May 6, 2011 Bournemouth also does a massive trade in language students, although I think the more lucrative end is in lodging with families. Government policy may hit that as well. Anyone got any comment on Sales and Stock Levels thread on Main Forum?. I've seen a drop of 25% in houses for sale in BH15 (my half mile radius monitor area) in the last seven days. No drops of this size anytime this year. Why? Anyone? Quote Link to comment Share on other sites More sharing options...
danlee74 Posted May 7, 2011 Share Posted May 7, 2011 Anyone got any comment on Sales and Stock Levels thread on Main Forum?. I've seen a drop of 25% in houses for sale in BH15 (my half mile radius monitor area) in the last seven days. No drops of this size anytime this year. Why? Anyone? Hi Juvenal Cheers for the chat at the Inside Job showing! As for your question, I can't say I have noticed a drop in stock available on my search (Bournemouth, Flats/Apartments, 1 to 2 Beds). In fact in "This area only" there are over 1000 available!! 513 1 bedroomed, over 1000 2 bedroomed! Seems to be plenty of stock out there. I'll try to refine my search to see if I can give you a more definite answer and monitor it. The problem is that they are still extremely overvalued by the vendor and the EA. The mindset still seems to be "my house is worth x and I won't take a penny less". IMO this will remain (apart from forcing from the 3 D's) until substantial falls are apparent as per the 08/09 correction which change this mindset (+20% falls before the government stepped in) and/or interest rates are raised forcing the hand of "investors" who bought for profit rather than shelter. Obviously there are other major factors at work but I won't go into them. On my search today to add to the reductions I highlighted yesterday: http://www.rightmove.co.uk/property-for-sale/property-28681489.html - down from 400k to 350k in 5 months (12.5%) http://www.rightmove.co.uk/property-for-sale/property-28670168.html - down from 190k to 170k but taken 15 months! (10.5%) http://www.rightmove.co.uk/property-for-sale/property-26486632.html - down from 160k to 140k in 11 months (12.5%) My gut feel on the three properties above (after making no effort to research) is that they are still overvalued (after all, what difference does a c10% reduction make on something which tripled in price in about a decade!) and further reductions will be needed, and even then the vendor will obviously not get the asking price but settle on c90% of it. I am still confident that a major correction will take place - the question is will it be 08/09 style with a 20% drop in a year, or a Japan style slow, painful to watch decade long bump along the bottom with -0.2% nominal while wages catch up at 2% per annum. I hope for the former obviously as peoples lives must be on hold while this plays out. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted May 8, 2011 Share Posted May 8, 2011 ... reductions in BH area on Property Snake ... UPDATED: 8/5/11 (30/3/11) (18/3/11) BH1 82 (93) (95) BH2 61 (74) (73) BH3 14 (16) (17) BH4 38 (45) (45) BH5 65 (70) (80) BH6 59 (66) (84) BH7 25 (33) (39) BH8 54 (54) (65) BH9 77 (69) (70) BH10 49 (52) (49) BH11 36 (52) (65) BH12 106 (110) (124) BH13 86 (89) (88) BH14 140 (125) (133) BH15 118 (136) (143) BH16 42 (40) (42) BH17 64 (62) (68) BH18 6 (10) (15) BH19 24 (15) (12) BH20 29 (37) (40) BH21 72 (49) (43) BH22 61 (78) (77) BH23 154 (146) (168) BH24 85 (94) (99) BH25 178 (139) (139) Total: 1,725 (1,754) (1,873) Any surprise results here? There seems to be a sizeable increase in properties with "discounts" in BH15, BH21 and BH25 ... anyone watching these areas? Each of the other postcodes seem to be relatively similar. Quote Link to comment Share on other sites More sharing options...
danlee74 Posted May 9, 2011 Share Posted May 9, 2011 (edited) Crashtastic! I kind of feel that I am talking to myself here but another good show here: http://www.rightmove.co.uk/property-for-sale/property-30668585.html?premiumA=true ... 160k down to 140k in 9 months (12.5k) The interesting thing here is that the last sale of this property (Flat 6 East Cliff Lodge, Christchurch Road) according to houseprices was in Nov-03 for 153k (http://www.houseprices.co.uk/e.php?q=BH1+3PA&n=100)... the current asking price is 13k LESS than the buying price in 2003! IMO this is a huge drop?! This would probably put the actual selling price back the best part of a decade! EDITED to include the link to houseprices Edited May 9, 2011 by danlee74 Quote Link to comment Share on other sites More sharing options...
buytoilet Posted May 9, 2011 Author Share Posted May 9, 2011 nah your not on your own Quote Link to comment Share on other sites More sharing options...
Mr. Piddle Posted May 9, 2011 Share Posted May 9, 2011 Crashtastic! I kind of feel that I am talking to myself here but another good show here: http://www.rightmove.co.uk/property-for-sale/property-30668585.html?premiumA=true ... 160k down to 140k in 9 months (12.5k) The interesting thing here is that the last sale of this property (Flat 6 East Cliff Lodge, Christchurch Road) according to houseprices was in Nov-03 for 153k (http://www.houseprices.co.uk/e.php?q=BH1+3PA&n=100)... the current asking price is 13k LESS than the buying price in 2003! IMO this is a huge drop?! This would probably put the actual selling price back the best part of a decade! EDITED to include the link to houseprices Do you think it could be something to do with the derelict building next door housing druggies and squatters??? Quote Link to comment Share on other sites More sharing options...
danlee74 Posted May 9, 2011 Share Posted May 9, 2011 Do you think it could be something to do with the derelict building next door housing druggies and squatters??? Possibly, I am not familiar with the building so if that is true then it would certainly be a big factor!! I have lived in Boscombe previously (Campbell Road) and did not find it all that bad to be honest. The drop is certainly sizeable and even more so when compared with the previous 2003 sale. Quote Link to comment Share on other sites More sharing options...
Mr. Piddle Posted May 9, 2011 Share Posted May 9, 2011 Possibly, I am not familiar with the building so if that is true then it would certainly be a big factor!! I have lived in Boscombe previously (Campbell Road) and did not find it all that bad to be honest. The drop is certainly sizeable and even more so when compared with the previous 2003 sale. I cant picture how long the building has been a squat but probably not before 2003. I looks like it used to be a hotel. Its actually next door but one, but that's still bad enough!! Ive never lived in Boscombe myself, a friend of mine moved to Sea Road a few years agos and was burgled and had her car broken into within the 1st 6 months - but nothing since then, perhaps its just the initiation process!! Quote Link to comment Share on other sites More sharing options...
InkZ Posted May 10, 2011 Share Posted May 10, 2011 Agreed purchase in BH10 95% of asking. This is the third property I have offered on in the last two months. The first declined 92.5% of asking (BH9) and the second declined 93.3% of asking (BH9). People in this area really don't want to lower their prices, although I am looking at three bed detached so less reason to be motivated to move. People are just renting the properties out rather than taking less money for them. Personally I took 87.8% of the original asking price on my flat, it does seem flats are suffering more than houses. The problem I came up against is that even stuff that has been on for a year people aren't taking the offers. The area does seem to be holding up and supply is constrained somewhat. Quote Link to comment Share on other sites More sharing options...
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