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M21er

Residential Auction ( Erinaceous ) 138 Lots - Nationwide

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Hi

| Erinaceous LiveLink | Erinaceous Order of Sale | Lot 1 Details - with Next to Lot 2 etc | Erinaceous Full Catalogue ( PDF Download 3.4Mb ) |

It's been a little while since our last Live Auction.

This offering is from Erinaceous with 138 lots from across the Country. There are a fair number of repossessions in London ( Croydon, Thornton Heath and Thamesmead in particular ) and the South East. It will be interesting to see whether this increased supply is having any effect on prices achieved.

Since the last auction, there have been further withdrawls of mortgage ranges and a general tightening of lending criteria - Reduced LTVs and increased rates - will these changes be reflected in lower prices?

A feature of this auction is there are three 'pairs' of properties - that is more than one property up for auction from the same block or development:

Lot 8 Flat 2, 53 Friends Rd, Croydon, Surrey, CR0 Guide Price £180k ===> Last Sold Price £250k Feb 2006

Lot 9 Flat 5, 53 Friends Rd, Croydon, Surrey, CR0 Guide Price £160k ===> Last Sold Price £245k Aug 2006

Lot 51 73 Goodier Rd, Chelmsford, Essex, CM1 Guide Price £145k ===> Last Sold Price £215k Nov 2006

Lot 52 33 Goodier Rd, Chelmsford, Essex, CM1 Guide Price £140k ===> Last Sold Price £220k Oct 2006

Lot 91 Flat 1, New Esplanade Court, Esplanade Rd, Paignton, Devon, TQ4 Guide Price £65k ===> Last Sold Price £35k May 2001

Lot 92 Flat 34, New Esplanade Court, Esplanade Rd, Paignton, Devon, TQ4 Guide Price £65k ===> Last Sold Price £35k May 2001

These last two look like holiday properties - the first to go when the downturn comes?

Erinaceous OnLine Catalogue from Erinaceous Website

I will post the LiveLink tomorrow ( Thursday ) morning when it becomes available.

Regards

M21er

Edit: Updated to include all LiveLinks

Edited by M21er

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Nice to see that you're on the case again M21er. I shall try to clear my diary for the morning so that I can watch the fun unfold. :rolleyes::rolleyes:

HHmm... had a look at the catalogue - seems to be a huge number of "sold priors" listed. Do you suppose this is so they can advertise the auction at 60% successfully sold afterwards?

Edited by hellsbells

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Only 2 in the West Midlands and one of them is completely shuttered up, mmm, nice! <_< . Oh, and 1 in Redditch sold prior.

A LOT in Lancashire though!

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Nice to see that you're on the case again M21er. I shall try to clear my diary for the morning so that I can watch the fun unfold. :rolleyes::rolleyes:

HHmm... had a look at the catalogue - seems to be a huge number of "sold priors" listed. Do you suppose this is so they can advertise the auction at 60% successfully sold afterwards?

Hi HB

Had a quick scan down - there are around(!) 42 Sold Priors - they can already claim 30% as sold. It will be very interesting to see the stats of properties offered in the auction room.

Based on earlier auctions, they may be having some last minute reductions in reserves to ensure more lots get away

M21er

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Hi M21,

Did you see the latest bearfood at Albion Mill.

Tasty.

brrrp.

Hi BM

I didn't see the BBC programme - only read about it on here.

There are two more repossessions at Albion Mill in tomorrow's ( Thursday ) Allsop auction.

See the Allsop Residential Auction ( 27 March 2008 ) thread

Lot 298 Apt 38, Block A, Albion Mill Guide Price £100k

Lot 299 Apt 7, Block B, Albion Mill Guide Price £100k

I can't see £100k holding in the longer term - there must be so many flats in the development which are in the process of being repossessed that the supply must be building up day by day. I don't think they offer value at £100k and I think some of the flats being bought today at this price level will be repossessed further down the line.

Any guess on the ultimate value? I'm thinking £30k - £40k??

Regards

M21er

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Looks like a busy day. Anyone have any idea what effect the BMV crowd are having so far - I'm guessing they'll be responsible for a proportion of the "withdrawns". I wonder how big their appetite is? My suspicion is we need to see them bloated and sick b4 real prices are achieved.

Thanks for the heads up M21er.

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There is also Allsops live yesterday and today. There were over two hundred lots yesterday and about the same today. Today is when most of the distressed sales are.

Hi Physics34

The Allsop auction is covered in this thread

Allsop HousePriceCrash thread

We are being spoilt today - that has video as well!

M21er

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Looks like a busy day. Anyone have any idea what effect the BMV crowd are having so far - I'm guessing they'll be responsible for a proportion of the "withdrawns". I wonder how big their appetite is? My suspicion is we need to see them bloated and sick b4 real prices are achieved.

How many BMV on a street before BMV is MV?

And isn't there a risk with BMV where the seller goes bankrupt?

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Previous stats

Where's the live link? All I'm getting is the list (w/o pictures ) .... thinking my firewall is too restrictive

Erinaceous.JPG

post-141-1206615692_thumb.jpg

Edited by Sledgehead

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Previous stats

Where's the live link? All I'm getting is the list (w/o pictures ) .... thinking my firewall is too restrictive

Hi Sledgehead,

Erinaceous Live Window

This is the Live Window - you do however, need to enter your name and e mail address to get to this window.

The auctioneer is reading the announcements so we're nearly ready for the off

M21er

Edit: For spelling

Edited by M21er

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We're off

Lot 3 - Unsold at £76k Guide Price was £85k plus

M21er

Edit: To include Guide Price

Edited by M21er

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[quote name='the reaper' post=

8 unsold 180+

9 no bids 160+

this is grade AAA+ carnage...someone must have some money

At this rate the auction house will be out of business :lol:

Edited by papag

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Lot 8 Unsold at £160k

Lot 9 No Bids!!

M21er

Thanks for the updates - keep them coming, would you? I can't work out how to do the live link etc - something to do with Windows media and real player but I can't get my head around it and haven't got any knowledgeable kids available at present to sort it for me as they usually do.

Much appreciated.

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Hi Sledgehead,

Erinaceous Live Window

This is the Live Window - you do however, need to enter your name and e mail address to get to this window.

cheers m8y

I'm almost up to speed :

lot18

from nethouseprices

15 Chatterford End,

Basildon,

Essex,

SS14 2DQ £74,995

Flat

Leasehold

Not New Build 23-Feb-2004

Map (SS14 2DQ)

Lot 18: Sold £72,000

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Lot21

1, Elliott Court Roebuck Estate,

Binfield,

Bracknell,

Bracknell Forest,

RG42 4ET £245,000

Flat

Leasehold

New Build 21-Dec-2006

Map (RG42 4ET)

UNSOLD @ £168K

___________________________

Lot 22

4, Elliott Court Roebuck Estate,

Binfield,

Bracknell,

Bracknell Forest,

RG42 4ET £235,000

Flat

Leasehold

New Build 02-Apr-2007

Map (RG42 4ET)

UNSOLD @ 164k

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Lot23

Rutland Cottage Church Road,

Weston On The Green,

Bicester,

Oxfordshire,

OX25 3QP £499,950

Detached

Freehold

Not New Build 24-Sep-2004

Map (OX25 3QP)

UNSOLD @ 415K

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