How far will house prices fall? [Volume 3]

[spikeyhead]

Derek Smith said:

Brevity and me, not often in the same post.

I've told our second choice that we are interested but are about to put an offer on another place and see how that goes. Then my wife said that she'd like to visit first choice again just to make certain. Women, eh! Can't live with them, not allowed to kill them. It is remarkable how much you can miss on two visits. Tuesday now for the third visit.

That's possibly quote of the year

[Andy Zarse]

The conclusion being you can knock 30% off most expensive house prices on account of fantasy valuations.

Wonder how much they'll market this pile for (pile being the operative word) considering it's chequered history. It will come complete with a memorial garden...

[XJ40]

Tonker, mind if I ask what you think to the value of this?
http://www.rightmove.co.uk/property-for-sale/prope...

[superlightr]

we had a buyer for a clients houses house £270k reduced to £265k offer of £257k cash in hand, no chain, from the tenants renting the property so rent upto the day of completion. Seller says no......... within 3% of the reduced price no chain, no mortgage and rent to the day of completion.

- you cant make a horse drink water.

[Hitch78]

Tonker's lonely hearts ad drew few responses....

anonymous said:

[redacted]

[Pork]

superlightr said:

we had a buyer for a clients houses house £270k reduced to £265k offer of £257k cash in hand, no chain, from the tenants renting the property so rent upto the day of completion. Seller says no......... within 3% of the reduced price no chain, no mortgage and rent to the day of completion.

- you cant make a horse drink water.

Madness.

[Deva Link]

Pork said:

superlightr said:

we had a buyer for a clients houses house £270k reduced to £265k offer of £257k cash in hand, no chain, from the tenants renting the property so rent upto the day of completion. Seller says no......... within 3% of the reduced price no chain, no mortgage and rent to the day of completion.

- you cant make a horse drink water.

Madness.

I can only guess the seller was gambling that if the buyers were that interested they'd pay the extra.

[Alfa numeric]

anonymous said:

[redacted]

That looks like a "premium office rental opportunity" in an edge of town industrial estate, not a £2m house.

[Andy Zarse]

Andy Zarse said:

The conclusion being you can knock 30% off most expensive house prices on account of fantasy valuations.

Wonder how much they'll market this pile for (pile being the operative word) considering it's chequered history. It will come complete with a memorial garden...

Edited to add it would have been helpful if I'd included the link in this post regarding the death mansion...

http://www.shropshirestar.com/news/2012/05/15/murd...

[rah1888]

XJ40 said:

Tonker, mind if I ask what you think to the value of this?
http://www.rightmove.co.uk/property-for-sale/prope...

Although not Tonker, I hope you don't mind me adding a couple of thoughts.

Rightmove+ shows that this house was sold, subject to contract, back in the summer of 2007, when the asking price was £875k, but I can't find a record of a sold price showing anywhere. So the sale either never went through, or for one reason or another it's not showing on any of the sold price websites.

Whilst the house looks not to have been extended it has been completely refurbished, although I'm not sure this justifies the nearly £500k leap in price. The current price seems to be a good 10-15% too high, bu I'm not hugely familiar with the area.

ETA - I began typing this before Tonker's reply appeared above. Kitchens and bathrooms appear to have been replaced since the property was on the market 5 yrs ago, but I agree that spec doesn't look terrifically high.

Edited by rah1888 on Wednesday 16th May 16:00

[Deva Link]

Andy Zarse said:

Andy Zarse said:

The conclusion being you can knock 30% off most expensive house prices on account of fantasy valuations.

Wonder how much they'll market this pile for (pile being the operative word) considering it's chequered history. It will come complete with a memorial garden...

Edited to add it would have been helpful if I'd included the link in this post regarding the death mansion...

http://www.shropshirestar.com/news/2012/05/15/murd...

Not sure about the use of the word 'pile' - there's no pile there now.

[XJ40]

anonymous said:

[redacted]

Yes well remembered, posted it before but didn't receive any comments IIR. Thanks for the comments, interested to canvas views. There's a messy looking outbuilding ajacent to the property which has missed out on the photography.

[XJ40]

rah1888 said:

Although not Tonker, I hope you don't mind me adding a couple of thoughts.

Rightmove+ shows that this house was sold, subject to contract, back in the summer of 2007, when the asking price was £875k, but I can't find a record of a sold price showing anywhere. So the sale either never went through, or for one reason or another it's not showing on any of the sold price websites.

Whilst the house looks not to have been extended it has been completely refurbished, although I'm not sure this justifies the nearly £500k leap in price. The current price seems to be a good 10-15% too high, bu I'm not hugely familiar with the area.

ETA - I began typing this before Tonker's reply appeared above. Kitchens and bathrooms appear to have been replaced since the property was on the market 5 yrs ago, but I agree that spec doesn't look terrifically high.

Thanks for the thoughts. Yes, the house has been completely refurbished but not extended over the last five years.

[XJ40]

anonymous said:

[redacted]

Well, when I say completely refurbished I mean all the rooms have had at least some degree of attention. I agree some of the details aren't right on a house at that price level. As pointed out above the asking price is a lot more than was paid in '07. This isn't a house I'm looking to buy, it's just I know the seller very well.

[rah1888]

XJ40 said:

Well, when I say completely refurbished I mean all the rooms have had at least some degree of attention. I agree some of the details aren't right on a house at that price level. As pointed out above the asking price is a lot more than was paid in '07. This isn't a house I'm looking to buy, it's just I know the seller very well.

Disappointingly I have been able to find out what was paid in 07, but with an asking of £875k very close to the peak of the market I'm guessing there wasn't a great drop.

It's been on the market since the end of March, presumably without an acceptable offer, reinforcing the view that the price is rather high.

[turbobloke]

London prime property prices under continuing pressure with increasing attention from wealthy eurozone 'economic migrants' say Savills and John Taylor.

http://www.dailymail.co.uk/news/article-2153685/A-...

[turbobloke]

Ireland's property market takes a famous victim.

Click

[turbobloke]

anonymous said:

[redacted]

Ooops.

[loafer123]

turbobloke said:

Ireland's property market takes a famous victim.

Click

Looks like he got too close to The Edge.

Which may or may not be a massive hint about another Irish rockstar who owes a massive amount to NAMA...!

[loafer123]

anonymous said:

[redacted]

I call your prostitutes alley and raise you Spanish development...