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TheCountOfNowhere

Northampton Is Bouncing !

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Ive been tracking lots of places, above £250K, in northampton using property bee and....lots of them have gone "Sold STC" today !!!!!

I am totally shocked. Last week prices were tumbling according to property snake and property bee with lots of "Sold STC" changing back to "Available".

Most of the places Im following are decent houses that you'd expect people to want to buy.

I suspect/hope a lot of these sales are from buyers who have still to sell there own place and have offered expecting to sell themselves, they should discover that it's difficult to get a chain completed now with no FTBs, BTLs and cheap credit.

A friend is selling a top end place and had an offer last week from someone who had still to sell but he told them to FO and come back when they had sold.

Anyone else seen the bounce happening this week ?

Edited by TheCountOfNowhere

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Guest grumpy-old-man
Ive been tracking lots of places, above £250K, in northampton using property bee and....lots of them have gone "Sold STC" today !!!!!

I am totally shocked. Last week prices were tumbling according to property snake and property bee with lots of "Sold STC" changing back to "Available".

Most of the places Im following are decent houses that you'd expect people to want to buy.

I suspect/hope a lot of these sales are from buyers who have still to sell there own place and have offered expecting to sell themselves, they should discover that it's difficult to get a chain completed now with no FTBs, BTLs and cheap credit.

A friend is selling a top end place and had an offer last week from someone who had still to sell but he told them to FO and come back when they had sold.

Anyone else seen the bounce happening this week ?

I bet you there are hardly any complete chains & it's EA's trying to establish a bounce.

Mark my Words

The property market will not bounce, it's all out of lives.

SOLD means cash in the bank to me.

Edited by grumpy-old-man

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Within 400 metres of my house there are 3 places that have been Sold STC for over 6 months. That's one lazy bunch of conveyancers at work if the signs aren't telling porkies.

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I bet you there are hardly any complete chains & it's EA's trying to establish a bounce.

Mark my Words

The property market will not bounce, it's all out of lives.

SOLD means cash in the bank to me.

That's exactly what I think, lets hope we're right.

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Sold STC means nothing, 3 properties on the new build estate where I live have had that up for the last 3 months.

It is over.

The bounce you are seeing in Northampton is numpties who arranged a mortgage towards the end of last year now thinking the worst is over.

Engage crash number 1

Oh and just for any bulls left

deadhorse.gif

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Sold STC means nothing, 3 properties on the new build estate where I live have had that up for the last 3 months.

It is over.

The bounce you are seeing in Northampton is numpties who arranged a mortgage towards the end of last year now thinking the worst is over.

Engage crash number 1

Oh and just for any bulls left

deadhorse.gif

:lol::lol:

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Just looking at the price range £250K to £300K

The same bounce is not evident !!!! Price drops if anything is the order of the day.

So, I think my theory that people are being encouraged to offer on propertys and the fools are accepting them, taking them off the market and waiting for theirs buyers chain to come to fruitition.

I think my mate was sensible telling the people who offered to FO and come back when they have a complete chain...

I'd imaging below £200K the only thing bouncing are the mortgage payment cheques :lol:

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Just looking at the price range £250K to £300K

The same bounce is not evident !!!! Price drops if anything is the order of the day.

So, I think my theory that people are being encouraged to offer on propertys and the fools are accepting them, taking them off the market and waiting for theirs buyers chain to come to fruitition.

I think my mate was sensible telling the people who offered to FO and come back when they have a complete chain...

I'd imaging below £200K the only thing bouncing are the mortgage payment cheques :lol:

Flats falling fast, but have to agree that the 250k plus ones aren't really falling. Interestingly, Connells are still over valuing by loads to get business and still selling EVEN when there is an IDENTICAL, CHEAPER house nearby. Unless asking prices high, but accepting much lower.

Is it London/Milton Keynes buyers who have sold, downsizing?

I do not understand - ideas?

Edited by NorthamptonBear

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Flats falling fast, but have to agree that the 250k plus ones aren't really falling. Interestingly, Connells are still over valuing by loads to get business and still selling EVEN when there is an IDENTICAL, CHEAPER house nearby. Unless asking prices high, but accepting much lower.

Is it London/Milton Keynes buyers who have sold, downsizing?

I do not understand - ideas?

You're pissed.

You're mistaken.

How do you know what Connells are doing?

You are extrapolating what is happening to one or two local properties and ending up in a state of hysteria.

Some properties near me have sold in the last few months. But the sight of a removal lorry outside a house is becoming rarer.

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Flats falling fast, but have to agree that the 250k plus ones aren't really falling. Interestingly, Connells are still over valuing by loads to get business and still selling EVEN when there is an IDENTICAL, CHEAPER house nearby. Unless asking prices high, but accepting much lower.

Is it London/Milton Keynes buyers who have sold, downsizing?

I do not understand - ideas?

Northamptonbear, I suspect its the agents trying to get people to offer/accept so they can build chains, if they cant complete the chain though no one sells!!! I think they are trying hard to get the market going. The credit crunch will bring stop that though.

To complete the chain they need lots of people downsizing, FTBs or Investors. Maybe be plenty of the former but none of the later I suspect.

EDIT: Has anyone any recollection of chains falling apart in HPC 1 ?

My mate had told the agent he only wanted offers from proceedable buyers but he still got someone offering 100K below asking !!!

Last week I saw 8 places go from "SOLD STC" to "Available". I suspect we will see a lot of that in 2 months time when the sellers that have sold have not completed.

Will be very interesting to see what happens now.

Patience is the order of the day.

Its definitely bounced today though :blink:

EDIT: "Some properties near me have sold in the last few months. But the sight of a removal lorry outside a house is becoming rarer." - The Bounce Ive noticed is purely on today ( this weekends ) changes !!!!!!

Edited by TheCountOfNowhere

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Oh and just for any bulls left

deadhorse.gif

I really did laugh out loud at that!

I'm sure some people are still buying houses. Fools. Just because it says SSTC doesn't mean they got the price they were asking. Maybe they dropped the price, and the fools buying are thinking they've just bagged themselves a 'bargain'.

'Thanks credit crunch', they'll be saying,

'you've saved me 15K, hurrah!'

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Are some crooked estate agents setting up false buyers - like tame family and friends who get a backhander for making offers just to keep the pot boiling? Or does Sold STC actually mean 'a viewer nearly went to look round'.???

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EDIT: Has anyone any recollection of chains falling apart in HPC 1 ?

Do you think we've all lost our memories?

Chains become much shorter in the last crash. Lots more deals were done with just one buyer and seller. If you waited for a chain to come together you could wait forever. People sold to rent, not because they were speculating, but because it was the only way to get a deal done.

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Ive been tracking lots of places, above £250K, in northampton using property bee and....lots of them have gone "Sold STC" today !!!!!

I am totally shocked. Last week prices were tumbling according to property snake and property bee with lots of "Sold STC" changing back to "Available".

Most of the places Im following are decent houses that you'd expect people to want to buy.

I suspect/hope a lot of these sales are from buyers who have still to sell there own place and have offered expecting to sell themselves, they should discover that it's difficult to get a chain completed now with no FTBs, BTLs and cheap credit.

A friend is selling a top end place and had an offer last week from someone who had still to sell but he told them to FO and come back when they had sold.

Anyone else seen the bounce happening this week ?

doesn't look too hot to me.

look at the median house prices for northampton:

http://www.home.co.uk/guides/house_prices_...&lastyear=1

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You're pissed.

You're mistaken.

How do you know what Connells are doing?

You are extrapolating what is happening to one or two local properties and ending up in a state of hysteria.

Some properties near me have sold in the last few months. But the sight of a removal lorry outside a house is becoming rarer.

Here we go.....

Flats are going down - asking prices for the 2 areas I check are lower.

The 2 areas I check houses for (1 is same for flats) are generally showing price falls at the lower end, not upper.

Connells is part own knowledge of quotes they provided to me and also anecdotally from others I know.

I see the houses being marked sold (STC) and know their asking prices and the asking prices of others nearby.

Er, state of hysteria - er, nope. I fully expect houses prices to fall lots in a couple of years.

Pissed? No. (hmmm, nice remark).

Mistaken, possibly, but VERY open to reasoned arguments / evidence.

Is where you live full of Northampton's 250k plus houses. If it is - then fair enough. But I can see more movement in sub 250k than over 250k.

I am surprised, I would have thought that vanity buyers would be suffering. Where 1 or both of them love to show off and based on 10 years experience, expecting constant price rises - they have bought the most expensive houses they could get hold of.

So far I don't see too much evidence. I would love to. Anyone?

On relection there may be movement in the 325k + range. Maybe my view of a 250-300k house (in NN) being a vanity buy is wrong. Maybe this is a standard family house.

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Northamptonbear, I suspect its the agents trying to get people to offer/accept so they can build chains, if they cant complete the chain though no one sells!!! I think they are trying hard to get the market going. The credit crunch will bring stop that though.

To complete the chain they need lots of people downsizing, FTBs or Investors. Maybe be plenty of the former but none of the later I suspect.

...

Last week I saw 8 places go from "SOLD STC" to "Available". I suspect we will see a lot of that in 2 months time when the sellers that have sold have not completed.

Will be very interesting to see what happens now.

Patience is the order of the day.

Its definitely bounced today though :blink:

EDIT: "Some properties near me have sold in the last few months. But the sight of a removal lorry outside a house is becoming rarer." - The Bounce Ive noticed is purely on today ( this weekends ) changes !!!!!!

Maybe it's chain building. Maybe it's a NEED to clear the mortgage/MEW (good luck).

Have seen your posts regarding Sold STC to Available and I hope there are plenty of these as buyers wake up and mortgages get withdrawn.

I think this coming weekend (or at least next 2/3 weeks) is key. If no real interest, then some will start to reduce asking prices.

But Connells do seem to be finding the last of the greater fools - OR the offer price is way below asking. Some new tactic to make buyer feel like they are getting a bargain?

Personally, I found Connells shambolic - so just left wondering.

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Just had a look at property bee in my area of Northamptonshire upto 250K and just 3 houses gone under offer

over the weekend, all with the same estate agent. A couple after recent price reductions so is tempting some

buyers, the estate agent is probably saying well make us an offer and hope it creates interest from other buyers to

put in a higher offer.

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Just had a look at property bee in my area of Northamptonshire upto 250K and just 3 houses gone under offer

over the weekend, all with the same estate agent. A couple after recent price reductions so is tempting some

buyers, the estate agent is probably saying well make us an offer and hope it creates interest from other buyers to

put in a higher offer.

Hi Fudge, That backs up what Im seeing £250K and below. Nothing much selling at the bottom end.

I was just a bit stunned at the number of £300K places that went STC today. Ive been leeping an eye on lots of them that:

a) I thought were over-priced and would never sell e.g.:

http://www.rightmove.co.uk/viewdetails-164...17&tr_t=buy

£430K to live in grange park...someone is f**king mad !!!

b ) have viewed myself and knew they were over-priced and not worth buying

e.g.: http://www.rightmove.co.uk/viewdetails-197...21&tr_t=buy

Viewed this, needs lots of work.

c) Quite fancied viewing when the market drops a bit more.

http://www.rightmove.co.uk/viewdetails-101...=4&tr_t=buy

was on the market less than 2 weeks and it's not cheap. Depends what sort of offer they accepted I suppose but would expect it to be £600K+

Also, the agent was pushing this one to me:

http://www.rightmove.co.uk/viewdetails-193...=7&tr_t=buy

Saying the sellers where prepared to drop the asking 10% to what they thought was the true value.

Maybe the top end sellers are just dropping their pants to get rid.

Edited by TheCountOfNowhere

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Just had a look at property bee in my area of Northamptonshire upto 250K and just 3 houses gone under offer

over the weekend, all with the same estate agent. A couple after recent price reductions so is tempting some

buyers, the estate agent is probably saying well make us an offer and hope it creates interest from other buyers to

put in a higher offer.

Possible. Am just keen to hear other's views. Doesn't really change my current plans, but I like to know what's happening. BTW, I'm most interested in Grange Park/Wootton (kids school).

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Within 400 metres of my house there are 3 places that have been Sold STC for over 6 months. That's one lazy bunch of conveyancers at work if the signs aren't telling porkies.

Ditto. I have been keeping an eye on several properties that have been STC for months. IMPO it is just a marketing ploy.

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Ditto. I have been keeping an eye on several properties that have been STC for months. IMPO it is just a marketing ploy.

What does an EA/buyer get out of changing their status to "Sold STC" ?

Surely that would only put off potential buyers ?

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Count..

Your first one was one of the Connells houses which are a LOT more than the competition

so

430 WTF?

400

395

365

Now then, other similar ones for 30k less, 35k less,

£429,995

An immaculately presented Millennium property built by Bellway Homes set on an exclusive plot. Benefits include five bedrooms with en suite to master & second bedroom, kitchen/breakfast room, study, extensive landscaped gardens & double garage. NO UPWARD CHAIN.

More details, photographs, EPC and map available Save property

Marketed by Connells, Wootton Fields.

And what is happening with Status - new buyer / muppetry?

History

dateevent

17th Mar 2008

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

13rd Mar 2008

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

12nd Mar 2008

  • Subtitle changed: from '5 bedroom house' to '5 bedroom detached'

31st Jan 2008

  • Initial entry found.
Edited by NorthamptonBear

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These are all expensive Northampton Sold STC - [ as of today 17th March 08 ]

It will be interesting to see what happens to them over the next few weeks.

Its a little strange that all these high end properties are supposedly selling whilst the cheaper properties aren't getting a look in? <_<

---------------------------------------------------------

Dallington £950,000 5 bedroom detached

http://www.rightmove.co.uk/viewdetails-173...=1&tr_t=buy

High Street, Great Houghton, Northampton, Northamptonshire Guide Price £850,000 5 bedroom house

http://www.rightmove.co.uk/viewdetails-155...=1&tr_t=buy

The Green, Great Houghton, Northampton, Northamptonshire Guide Price £795,000 6 bedroom detached

http://www.rightmove.co.uk/viewdetails-100...=1&tr_t=buy

Turnberry Lane, Collingtree, Northampton, NN4 opa £775,000 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-197...=1&tr_t=buy

East Park Parade, Northampton, Offers in Region of £695,000 8 bedroom terraced

http://www.rightmove.co.uk/viewdetails-151...=2&tr_t=buy

Abington Park Crescent, Abington, Northampton, Northamptonshire Guide Price £695,000 7 bedroom detached

http://www.rightmove.co.uk/viewdetails-101...=2&tr_t=buy

Spyglass Hill, Northampton, NN4 £645,000 4 bedroom house

http://www.rightmove.co.uk/viewdetails-171...=3&tr_t=buy

Augusta Avenue, Collingtree Park, Northamptonshire, NN4 Guide Price £599,000 House

http://www.rightmove.co.uk/viewdetails-166...=4&tr_t=buy

St Georges Avenue, Kingsley, Northampton £500,000 5 bedroom terraced

http://www.rightmove.co.uk/viewdetails-185...=6&tr_t=buy

The Woodlands, Harlestone Road, Duston, Northampton £475,000 7 bedroom detached

http://www.rightmove.co.uk/viewdetails-164...=9&tr_t=buy

Martlet Close, Wootton, Northampton. £430,000 5 bedroom detached

http://www.rightmove.co.uk/viewdetails-995...12&tr_t=buy

Barn Close, Grange Park , Northampton £429,995 5 bedroom detached

http://www.rightmove.co.uk/viewdetails-164...12&tr_t=buy

Billing Road, Brafield On The Green, Northamptonshire £425,000 3 bedroom detached

http://www.rightmove.co.uk/viewdetails-178...13&tr_t=buy

Christchurch Road, Abington, Northampton £394,995 5 bedroom house

http://www.rightmove.co.uk/viewdetails-197...16&tr_t=buy

Welford Road, Kingsthorpe, Northampton £389,995 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-971...16&tr_t=buy

Mill Lane, Kingsthorpe, Northampton £379,950 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-167...17&tr_t=buy

St Georges Avenue, Kingsley, Northampton £375,000 4 bedroom semi-detached

http://www.rightmove.co.uk/viewdetails-186...18&tr_t=buy

Hackleton Guide Price £375,000 4 bedroom character property

http://www.rightmove.co.uk/viewdetails-173...18&tr_t=buy

Botmead Road, Berrydale, Northampton £374,995 4 bedroom bungalow

http://www.rightmove.co.uk/viewdetails-163...19&tr_t=buy

Abington Grove, Abington, Northampton. £365,000 7 bedroom terraced

http://www.rightmove.co.uk/viewdetails-987...20&tr_t=buy

Roman Close, Wootton, Northampton £365,000 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-179...21&tr_t=buy

Semilong Road, Semilong, Northampton. Offers in Region of £365,000 8 bedroom terraced

http://www.rightmove.co.uk/viewdetails-987...21&tr_t=buy

Duston £359,995 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-165...22&tr_t=buy

Station Road, Great Billing, Northamptonshire £359,950 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-193...22&tr_t=buy

Abington Court, Upton One, Northampton £353,500 5 bedroom town house

http://www.rightmove.co.uk/viewdetails-143...22&tr_t=buy

Billing Road, Abington, Northamptonshire £350,000 4 bedroom house

http://www.rightmove.co.uk/viewdetails-171...24&tr_t=buy

A Seven Bedroom Property in Abington £349,995

http://www.rightmove.co.uk/viewdetails-100...24&tr_t=buy

Swift Close, Grange Park, Northampton £339,995 5 bedroom detached

http://www.rightmove.co.uk/viewdetails-942...27&tr_t=buy

Abington Court, Upton One, Northampton £338,500 5 bedroom town house

http://www.rightmove.co.uk/viewdetails-143...28&tr_t=buy

Kirby Close, Wootton, Northampton £329,995 4 bedroom detached

http://www.rightmove.co.uk/viewdetails-933...31&tr_t=buy

Colonial Drive, Collingtree Park, Northampton £329,995 3 bedroom detached

http://www.rightmove.co.uk/viewdetails-162...31&tr_t=buy

Ploughmans Way, Grange Park, Northampton £315,000 4 bedroom house

http://www.rightmove.co.uk/viewdetails-195...35&tr_t=buy

Summerfields, West Hunsbury, Northamptonshire £310,000 5 bedroom house

http://www.rightmove.co.uk/viewdetails-169...36&tr_t=buy

Windingbrook Lane, Collingtree Park, Northampton. £309,995 2 bedroom bungalow

http://www.rightmove.co.uk/viewdetails-987...37&tr_t=buy

---------------------------------------------------------

:blink:

Edited by HouseDog

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