What would you offer?
Discussion
http://www.rightmove.co.uk/property-for-sale/prope...
Bit of background. Development of 21 houses, consisting of 14 in the first phase, 7 in 2nd phase. First phase has been completed for 12-18 months, with only 4 houses of first phase sold. Second phase nearly complete none sold.
We're looking at one of the first phase... just wondering what the offer price you would guesstimate given the above information. The build quality of the houses is very good and I'm not sure why they haven't sold. Perhaps a combination of the depressed market and the fact the rear gardens are a bit hilly/built into the side of the mountain. Positives are the location is excellent, very convenient for the town centre whilst not being on a through road, and fab views.
PH thoughts?!
Bit of background. Development of 21 houses, consisting of 14 in the first phase, 7 in 2nd phase. First phase has been completed for 12-18 months, with only 4 houses of first phase sold. Second phase nearly complete none sold.
We're looking at one of the first phase... just wondering what the offer price you would guesstimate given the above information. The build quality of the houses is very good and I'm not sure why they haven't sold. Perhaps a combination of the depressed market and the fact the rear gardens are a bit hilly/built into the side of the mountain. Positives are the location is excellent, very convenient for the town centre whilst not being on a through road, and fab views.
PH thoughts?!
They seem quite expensive, it this the going rate for a 4 bedder on a cliff-side around there? I guess they are near the top of the market for the area? Can you see any sold prices on houseprices.co.uk or whereever?
I'd suggest they burn the furniture in the showhome and start again too - they're not going to find many grandparent buyers.
I'd suggest they burn the furniture in the showhome and start again too - they're not going to find many grandparent buyers.
Not that you'd necessarily want to, but if you search for between 3-400k you will see what that can buy you in the immediate area. Generally the newer developments in the town are a lot further from town centre, and plots can be hit and miss in terms or privacy (houses built close/on top of each other). Generally no views either. You do start getting double garages in that price range though. This one has about a 1.5 garage as it's nice and deep and wide inside although not a double.
hornetrider said:
Despite exhaustive searches the sold prices are not coming up on the usual websites 
Can a new builder keep the sold prices from appearing on houseprices/zoopla etc? Weird, given one sold 12 months ago.
The sold prices can be up to 6 months before being listed. Sometimes builders let one or two out if things are sticking to gain income and make the estate look as though they are sellingCan a new builder keep the sold prices from appearing on houseprices/zoopla etc? Weird, given one sold 12 months ago.
MJG280 said:
The sold prices can be up to 6 months before being listed. Sometimes builders let one or two out if things are sticking to gain income and make the estate look as though they are selling
Yeah that is what's happening here - they have a few advertised for let too. Cheap as well (cheaper than mortgage cost)The developer certainly didn't skimp getting Ray Charles in to do the interior decor. That truly is awaful.
Back to the question. It doesn't sound like they are flying out the door, so a ridiuclous offer would be the best way forward IMHO. You will no doubt have to pay more if you want it, but I'd be dubious about paying anything anywhere near the asking price on something that risks becoming a white elephant. The last you want to do is go offering £329,000, and them to take your hand off. Provided you are a cash buyer and can move quickly (completion within 14 days) I'd probably be in the mid-high 2s somewhere. Remember this is a developer. It's impossible to offend them. They are running a business, and cashflow is king in this environment.
Whatever you do don't let your missus get her heart set on it.
Back to the question. It doesn't sound like they are flying out the door, so a ridiuclous offer would be the best way forward IMHO. You will no doubt have to pay more if you want it, but I'd be dubious about paying anything anywhere near the asking price on something that risks becoming a white elephant. The last you want to do is go offering £329,000, and them to take your hand off. Provided you are a cash buyer and can move quickly (completion within 14 days) I'd probably be in the mid-high 2s somewhere. Remember this is a developer. It's impossible to offend them. They are running a business, and cashflow is king in this environment.
Whatever you do don't let your missus get her heart set on it.
Try the Land Registry ebsite, you'll have to pay for any information found, but at least its the horses mouth!
An alternative might be to rent one, and once it for 6 months or so make an offer too buy it, based on a multiple of the rent! Noone is going to want to buy one thats already rented out if there are others available to buy "new".
An alternative might be to rent one, and once it for 6 months or so make an offer too buy it, based on a multiple of the rent! Noone is going to want to buy one thats already rented out if there are others available to buy "new".
Yeah we thought the same about the sofas 
Interesting thoughts gents and yes I was thinking that an offer beginning with 2 would be a place to start negotiations. Alas we're not cash buyers but would only initiate contact when our house was sold (can't see this as a problem as they're not exactly flying off the shelves!). I had thought about the renting angle - the one fly in that ointment is I have a mega mortgage rate which is portable, however if we spent some time out to rent we'd lose it.
Interesting thoughts gents and yes I was thinking that an offer beginning with 2 would be a place to start negotiations. Alas we're not cash buyers but would only initiate contact when our house was sold (can't see this as a problem as they're not exactly flying off the shelves!). I had thought about the renting angle - the one fly in that ointment is I have a mega mortgage rate which is portable, however if we spent some time out to rent we'd lose it.
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