eastleighfan Posted March 24, 2008 Share Posted March 24, 2008 http://www.rightmove.co.uk/viewdetails-192...=1&tr_t=buy This was first "found" by my property bee on 27th Feb , priced at £249,950 . It was reduced on 6th March to "offers in region of £240,000 . It has changed ,this morning to "offers in excess of £200,000 !!!!!!!! I make that a drop of 20% in less than a month !! Any other price drop examples ?? Quote Link to comment Share on other sites More sharing options...
Quasimodo's Hump Posted March 24, 2008 Share Posted March 24, 2008 Also in Southampton. This one has just been reduced from £360K to £275K. http://www.rightmove.co.uk/viewdetails-863...=7&tr_t=buy Quote Link to comment Share on other sites More sharing options...
eastleighfan Posted March 24, 2008 Author Share Posted March 24, 2008 Also in Southampton. This one has just been reduced from £360K to £275K. http://www.rightmove.co.uk/viewdetails-863...=7&tr_t=buy WOW!!!!!!!!!! That is a hell of a drop . Maybe there could be a seperate forum for the biggest price drops ? Quote Link to comment Share on other sites More sharing options...
Scott Posted March 24, 2008 Share Posted March 24, 2008 http://www.rightmove.co.uk/viewdetails-192...=1&tr_t=buy This was first "found" by my property bee on 27th Feb , priced at £249,950 . It was reduced on 6th March to "offers in region of £240,000 . It has changed ,this morning to "offers in excess of £200,000 !!!!!!!! I make that a drop of 20% in less than a month !! Any other price drop examples ?? 4-bed semi - should be worth around £120k in my book. Give it another 2-4 years!!! Quote Link to comment Share on other sites More sharing options...
Nicolaj Posted March 24, 2008 Share Posted March 24, 2008 looks like their debt as finally caught up with them.... wonder whens the mass panic going to kickoff? Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted March 24, 2008 Share Posted March 24, 2008 Also in Southampton. This one has just been reduced from £360K to £275K. http://www.rightmove.co.uk/viewdetails-863...=7&tr_t=buy So thas coming in now at 250k then if anyone is going to make a SERIOUS offer with a bit of haggling... 360k to 250k-or lets say 240 for laffs- jeezus- thats 33%!!!!!!! Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted March 24, 2008 Share Posted March 24, 2008 This is my personal favourite. Only 19%, but on close to £2m that is a lot of manooley, ie £400k. Undoubtedly this will annoy the neighbours who now feel half a million quid poorer. £1,599,950 (DOWN 19% from £1,995,000) Beech Drive, Kingswood (kt20) 5 bedroom house Last updated 08 Feb 2008. Event Historydate event 29 Oct 2007 First day listed (price £1,995,000) 21 Jan 2008 Status changed from listed to delisted 08 Feb 2008 Price changed from £1,995,000 to £1,599,950 Link : Beech Drive Quote Link to comment Share on other sites More sharing options...
mdman Posted March 24, 2008 Share Posted March 24, 2008 If I were selling now, I would ask for offers above a very low asking price and possibly conduct a sealed auction with interested bidders. I would be under no obligation to accept the highest bid, and would get a good idea of the highest price the market could afford. Better than asking for a ridiculously high asking price and getting no interest whatsoever Quote Link to comment Share on other sites More sharing options...
Mog Posted March 24, 2008 Share Posted March 24, 2008 This one is significant cos it's in London and of course we know that prices in London are immune. http://www.rightmove.co.uk/viewdetails-191...=4&tr_t=buy 357500 --> 299950, on sale since 2 Feb. Never mind that it's in a seriously dingy (excuse me, vibrant) part of London (albeit close to the City), or that there are sinks in each bedroom or that the kitchen is next to one of the bedrooms. It's a great buy-to-let investment, so great in fact that nobody is currently living in it, and the landlord is now attempting to sell it. This is the sort of place that I have no intention of ever buying but love keeping track of for entertainment. Quote Link to comment Share on other sites More sharing options...
lets get it right Posted March 24, 2008 Share Posted March 24, 2008 Also in Southampton. This one has just been reduced from £360K to £275K. http://www.rightmove.co.uk/viewdetails-863...=7&tr_t=buy You can see why they wanted so much money though. It has, apparently, a 'FITTED BATHROOM SUITE'. Lots of houses and flats you have to fit the bathroom suite yourselves. (Estate Agents reall are pr!cks.) Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted March 24, 2008 Share Posted March 24, 2008 This one is significant cos it's in London and of course we know that prices in London are immune. http://www.rightmove.co.uk/viewdetails-191...=4&tr_t=buy 357500 --> 299950, on sale since 2 Feb. Never mind that it's in a seriously dingy (excuse me, vibrant) part of London (albeit close to the City), or that there are sinks in each bedroom or that the kitchen is next to one of the bedrooms. It's a great buy-to-let investment, so great in fact that nobody is currently living in it, and the landlord is now attempting to sell it. This is the sort of place that I have no intention of ever buying but love keeping track of for entertainment. Oh dear, its over a shop, in fact isn't it an estate agents. I'd never buy in such a place as there is now a major risk that one day you have an estate agents, the next you end up with a curry house or fish shop - that would along knock another £70k off. Quote Link to comment Share on other sites More sharing options...
lets get it right Posted March 24, 2008 Share Posted March 24, 2008 This one is significant cos it's in London and of course we know that prices in London are immune. http://www.rightmove.co.uk/viewdetails-191...=4&tr_t=buy 357500 --> 299950, on sale since 2 Feb. Never mind that it's in a seriously dingy (excuse me, vibrant) part of London (albeit close to the City), or that there are sinks in each bedroom or that the kitchen is next to one of the bedrooms. It's a great buy-to-let investment, so great in fact that nobody is currently living in it, and the landlord is now attempting to sell it. This is the sort of place that I have no intention of ever buying but love keeping track of for entertainment. My Dad's stamping ground. Used to be one of the biggest holes in London but everyone in London is so rich they have to live somewhere so even the holes are expensive. I was watching a film on the box last night and a woman who was a teacher was living in what, over here, would be at least a million quids worth of house. Yanks must think we are truly insane when they come here and see 2 up 2 down former farm worker's cottages in Thameside villages up for sale for £350k. '11' wide and 23' deep over two floors, these undeceptively tiny cottages are much, much smaller than your garage block.' They must think we're bonkers. And a poxy flat, over a shop, in a grotty part of London, with bins and crap from the shops around the bottom of the stairs leading up to the flat for 300k - completely insane. That flat should be about 40k top whack. Quote Link to comment Share on other sites More sharing options...
winkie Posted March 24, 2008 Share Posted March 24, 2008 Start of things to come? Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted March 24, 2008 Share Posted March 24, 2008 Start of things to come? Wow £425k reduction, I am taking this on the basis of the £690k entry which is the latest in the history rather than the headline reduction to £799k. When homes in this bracket start falling, anyone who was trying to sell a £700k house is going to have to admit they are overpriced and reduce to £500k. Quote Link to comment Share on other sites More sharing options...
ghw22 Posted March 24, 2008 Share Posted March 24, 2008 My experience of looking in the Cambridge area is that the only ones to fall in price so far are grotty ones which are very clearly priced above the market - there's one classically awful bungalow for £420k (!) which has gone down quite a lot; the decent family homes are resolutely keeping their prices, although the majority of them are not selling yet... I guess that's predictable though - the worst examples of overpricing are clearly going to be the first casualties. I think we'll need this to go on a bit longer before the nicer places start to shift their prices. (c.f. Rightmove stats today - talk about denial!) Quote Link to comment Share on other sites More sharing options...
grey shark Posted March 24, 2008 Share Posted March 24, 2008 Also in Southampton. This one has just been reduced from £360K to £275K. http://www.rightmove.co.uk/viewdetails-863...=7&tr_t=buy New build crap true value in the real world about £125k , the agents can't even get the marketing of it right , calling it a 2 bed house , then a luxury waterside apartment , rubbish. Quote Link to comment Share on other sites More sharing options...
winkie Posted March 24, 2008 Share Posted March 24, 2008 My experience of looking in the Cambridge area is that the only ones to fall in price so far are grotty ones which are very clearly priced above the market - there's one classically awful bungalow for £420k (!) which has gone down quite a lot; the decent family homes are resolutely keeping their prices, although the majority of them are not selling yet... I guess that's predictable though - the worst examples of overpricing are clearly going to be the first casualties. I think we'll need this to go on a bit longer before the nicer places start to shift their prices. (c.f. Rightmove stats today - talk about denial!) Could that be why they are not selling....if people do not have the money to buy them, or do not want to borrow the money to buy them, or are unable to borrow the money to buy them, and all they can see if they do buy them is for them to fall in value...why bother at this point in time....better things to do with hard earned money, than purchase an over priced asset. Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 24, 2008 Share Posted March 24, 2008 The property market looks like it's turning into a Dutch auction. Price drops rapidly and the first bidder gets it unless their mortgage offer is withdrawn. Quote Link to comment Share on other sites More sharing options...
red Posted March 24, 2008 Share Posted March 24, 2008 But...but...the 'experts' said prices would only drop around 5% this year... Quote Link to comment Share on other sites More sharing options...
grey shark Posted March 24, 2008 Share Posted March 24, 2008 But...but...the 'experts' said prices would only drop around 5% this year... There are no experts , there all professional guesser's . Quote Link to comment Share on other sites More sharing options...
winkie Posted March 24, 2008 Share Posted March 24, 2008 There are no experts , there all professional guesser's . What qualifications do you need to be a professional guesser? Wishful thinking. Quote Link to comment Share on other sites More sharing options...
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