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Barnard Marcus Auction - Live Link


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Must admit that I was a little disappointed when I forst logged on, and started to compare the sale prices to the reserves. The thing to do is to ignore the reserves, and to compare to the previous sold price.

I feel like Christmas has come again; I have waited so long for this moment where there is no doubt that the market has turned.

As the market is built on sentiment, and negative stories appear to be the flavour of the moment, is there anyway that we can get some journalist hack to write a piece on this, citing examples of the losses being suffered? Does anyone have any contacts?

Hi

I e mailed Paul Murphy at the FT. He's put a quick article up on their AlphaVille mini website with a link to this discussion and also to the barnard Marcus live link.

Regards

M21er

FT AlphaVille

Edited by M21er
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lots 82/3 same falt differnt price

82 sold at 152k,83 at 145.5k.Vendor HBOS.Someone just gone negative to the vlaue of 6k.The views in Brum are all the same!!

Lost even more now as lot 133 in the same block http://www.rightmove.co.uk/viewdetails-167...=1&tr_t=buy went for £134,500.

Last purchase for this flat was

02 Dec 2003 72 Apartment 18 Centenary Plaza, Holliday Street, Birmingham, West Midlands B1 1TB Flat (New build) Leasehold £224,980

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Lot 138 looks odd/interesting. Being sold by HBOS mortgagee in possession. Looks quite nice newish stone/slate.

Unsold at £185k. Previous price £40k July 2002.

138 39 Far Dene, Kirkburton, Huddersfield, West Yorkshire, HD8

19/07/2002 £40,001 Det. F No Map 39, Far Dene, Kirkburton, Huddersfield, West Yorkshire, HD8 0QU

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Guess the Birmingham 2 bed "executive" flat is going to be the ground-zero for the crash:

140 Apartment 3604, 10 Holloway Circus Queensway, Birmingham, West Midlands, B1

Sold: 155,000

Last sale price:

22/09/2006 £250,000 Flat L No Map 10, 3604 Apartment, Holloway Circus Queensway, Birmingham, West Midlands, B1 1BY

So - this flat has lost 95,000 in "value" in 16 months or about 6 grand a month!

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Lost even more now as lot 133 in the same block http://www.rightmove.co.uk/viewdetails-167...=1&tr_t=buy went for £134,500.

Last purchase for this flat was

02 Dec 2003 72 Apartment 18 Centenary Plaza, Holliday Street, Birmingham, West Midlands B1 1TB Flat (New build) Leasehold £224,980

:lol::lol::lol::lol: the real value of these prime location city centre flats in birmingham is about £50K. Bring it on baby

Sorry,I forgot to include carpets and curtains in the price.

Edited by Daft Boy
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Isn't it marvellous to see the markets finally responding properly to rate cuts. Banks cut rates is because they see bad times a coming. This is the first day I can remember in years where the FTSE and sentiment as shown by this auction is negative rather than positive after a rate cut. Normalcy could be returning....in which case house prices will fall 40% in real terms and the FTSE will be go to about 2500 (although I'm tempted to hold out until it dips below 2000).

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Thanks for that, children can be a bloomin nuisance at times.

Bought July 05 for £105K. The owner of Flat 1 - bought for £118K in Sep 05 - has something to worry about!

Don't be ridiculous.

Property only ever goes up - and all the owner of Flat 1 has to do is wait for the spring bounce. It'll all be back to normal and 20% HPI by Easter.

Just in time to re-fix the mortgage for another 2 years and MEW for that Summer holiday

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I'm waiting to see what happens with lots 197 and 198: See if the Nottingham two-bedder is a worse investment than the Birmingham city-centre-shocker!

Obviously bought by the same person in those heady days of June '06

19/06/2006 £139,000 Flat L Yes Brook Court, 23 Apartment, Player Street, Nottingham, City Of Nottingham, NG7 5PP

27/06/2006 £139,000 Flat L Yes Brook Court, 36 Apartment, Player Street, Nottingham, City Of Nottingham, NG7 5PP

Guide price of 65K each ---

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I'm waiting to see what happens with lots 197 and 198: See if the Nottingham two-bedder is a worse investment than the Birmingham city-centre-shocker!

Obviously bought by the same person in those heady days of June '06

19/06/2006 £139,000 Flat L Yes Brook Court, 23 Apartment, Player Street, Nottingham, City Of Nottingham, NG7 5PP

27/06/2006 £139,000 Flat L Yes Brook Court, 36 Apartment, Player Street, Nottingham, City Of Nottingham, NG7 5PP

Guide price of 65K each ---

These 2 will be interesting. They're about 100 metres further into Basra/Beirut than the ones in Panorama.

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These 2 will be interesting. They're about 100 metres further into Basra/Beirut than the ones in Panorama.

Of course, as an outside "investor" who'll never see them in the flesh - they look like a wonderful bargain to me for 65K each! :P Surely I can rent them out for 550 a month each to young "professionals" and turn a nearly 10% yield B)

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19/01/2006 £250,000 Flat L No Map 80, Flat 14, Park Lane, Croydon, Greater London, CR0 1JE

03/02/2004 £118,000 Flat L Yes Map 80, Flat 14, Park Lane, Croydon, Greater London, CR0 1JE

Lot 167 Flat 14, 80 Park La, Croydon, Surrey, CR0: Sold £110,000

There must be something wrong here, how does somone lose £140K, are the lots renumbered?

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19/01/2006 £250,000 Flat L No Map 80, Flat 14, Park Lane, Croydon, Greater London, CR0 1JE

03/02/2004 £118,000 Flat L Yes Map 80, Flat 14, Park Lane, Croydon, Greater London, CR0 1JE

Lot 167 Flat 14, 80 Park La, Croydon, Surrey, CR0: Sold £110,000

There must be something wrong here, how does somone lose £140K, are the lots renumbered?

Are you kidding? Its called a house price crash!

Right...I've had enough of watching this online. I'm up the road from the auction so going to pop down there and see what the atmosphere/chat is like in the room. Anyone else fancy meeting down there? Nr. Piccadilly Circus.

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Lot 167 Flat 14, 80 Park La, Croydon, Surrey, CR0: Sold £110,000

There must be something wrong here, how does somone lose £140K, are the lots renumbered?

Its only a paper loss. Unless of course some mug paid cash a couple of years ago :lol:

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Are you kidding? Its called a house price crash!

Right...I've had enough of watching this online. I'm up the road from the auction so going to pop down there and see what the atmosphere/chat is like in the room. Anyone else fancy meeting down there? Nr. Piccadilly Circus.

Wish I could but I'm in Derbyshire.

I've got to go on the school run again soon, so I'll probably miss the Basra apartments.

I used to be a student at NTU, it was bad there then, so I dread to think how rough it has got. I noticed the security fence round the building, no where near high enough in my opinion.

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