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  • FIRST POST
    • Lamy
    • By Lamy 4th Jul 17, 8:22 PM
    • 31Posts
    • 17Thanks
    Lamy
    35% discount
    • #1
    • 4th Jul 17, 8:22 PM
    35% discount 4th Jul 17 at 8:22 PM
    Would this worry you? It's been on the market c 6 months
Page 2
    • BlaEm
    • By BlaEm 5th Jul 17, 12:34 PM
    • 212 Posts
    • 168 Thanks
    BlaEm
    Last sold for £379,950 on 19th Jun 2015. Presumably some renovations, so perhaps they just overestimated the value add in the first place and are now vying for a more realistic profit.
    • Crashy Time
    • By Crashy Time 5th Jul 17, 12:59 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    35% discount to what? Prices are only ever decided once a sale completes. It's not unusual for chancers to ask for silly amounts they'll never achieve. Anyone buying a house in a normal market knows an agent has lots of stock that will never shift, and new instructions that will sell in under a week.
    Originally posted by kinger101

    Puts the "supply and demand" argument to bed doesn`t it? Of course this isn`t a normal market, it is a property bubble ready to pop.
    • Crashy Time
    • By Crashy Time 5th Jul 17, 1:12 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    Looks like people don`t think big debts to prop up the bubble are such a great idea any more?


    http://www.hamhigh.co.uk/property/help-to-buy-falters-with-only-13-loans-issued-through-scheme-in-camden-1-5091935
    • PField
    • By PField 5th Jul 17, 1:22 PM
    • 27 Posts
    • 12 Thanks
    PField
    The agent is Foxtons and that's their tyapical tactic. Value the property at signifIcantly more than it's worth initially to get the bussiness from the vendor. If someone bites great, if not suggest they lower the asking price to something more realistic.
    • Crashy Time
    • By Crashy Time 5th Jul 17, 1:33 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    https://www.theguardian.com/business/2017/jul/05/shard-apartments-empty-flats-london-market
    • Crashy Time
    • By Crashy Time 5th Jul 17, 3:21 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    http://www.independent.co.uk/news/business/news/foxtons-countrywide-shares-brexit-eu-what-will-happen-to-house-prices-a7105441.html


    Media reports on how far down their revenues are all over the place, ranging from 25% to 55%, seems there is very little transparency in this bubble?
    • ReadingTim
    • By ReadingTim 5th Jul 17, 3:56 PM
    • 1,679 Posts
    • 2,435 Thanks
    ReadingTim
    Puts the "supply and demand" argument to bed doesn`t it? Of course this isn`t a normal market, it is a property bubble ready to pop.
    Originally posted by Crashy Time
    Not at all. The property is relatively unique, so supply (quantity) is inelastic if not fixed. Price is therefore solely determined by demand.

    Furthermore, what is a "normal market"? Markets (and therefore competition) can be perfect, imperfect, monopolies or a monopsonies, but a bubble...? It seems to be the only puncture-proof or self-healing and self-inflating bubble I've seen.

    Unless of course you mean an abnormal market is simply one you don't agree with...
    • Crashy Time
    • By Crashy Time 5th Jul 17, 5:54 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    http://www.independent.co.uk/news/business/news/foxtons-estate-agents-profits-drop-54-per-cent-over-half-brexit-latest-a7617341.html


    Certainly not a self-healing bubble as far as these guys are concerned?
    • Thrugelmir
    • By Thrugelmir 5th Jul 17, 6:34 PM
    • 54,331 Posts
    • 47,137 Thanks
    Thrugelmir
    Last sold for £379,950 on 19th Jun 2015. Presumably some renovations, so perhaps they just overestimated the value add in the first place and are now vying for a more realistic profit.
    Originally posted by BlaEm
    Renovations/refurbishment may have cost far more than expected. Now simply trying to extract themselves from the mire.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • getmore4less
    • By getmore4less 6th Jul 17, 7:00 AM
    • 29,139 Posts
    • 17,424 Thanks
    getmore4less
    Can you clarify the address

    Looks like from the Drawings on planning applications. it is

    Flat 2 37 Fortess Road
    last sold £425,000 19 Mar 13


    someone has been trying(last refused 2013) to get planning(2013/1070/P) to infill the parking space

    That would have removed 1 and 1/2 the other skylight in the reception/kitchen room.

    (some picture of the flat before/during the planning app)

    There are 2 flats in the basement area and the entrance to the other(flat 1) is off the shared patio area.
    You can see the door just behind the hose tap in picture 8.


    try this link for the planning
    http://camdocs.camden.gov.uk/HPRMWebDrawer/PlanRec?q=recContainer:2013/1070/P
    Last edited by getmore4less; 06-07-2017 at 7:04 AM.
    • theGrinch
    • By theGrinch 6th Jul 17, 7:26 AM
    • 2,750 Posts
    • 664 Thanks
    theGrinch
    what workings and research have you done on the location, property and price?
    "enough is a feast"...old Buddist proverb
    • glasgowdan
    • By glasgowdan 6th Jul 17, 8:09 AM
    • 2,258 Posts
    • 2,497 Thanks
    glasgowdan
    It sounds like a horrible place to live. The reductions are nothing to do with the market or house prices in general....nobody wants this flat because it's in a basement, it's dangerous and probably likely to suffer difficulties selling in future.
    • bouicca21
    • By bouicca21 6th Jul 17, 8:25 AM
    • 2,984 Posts
    • 3,655 Thanks
    bouicca21
    No one has mentioned that the property details omit crucial information - the length of the lease and ground rent. So I will.
    • Lamy
    • By Lamy 6th Jul 17, 9:49 AM
    • 31 Posts
    • 17 Thanks
    Lamy
    Can you clarify the address

    Looks like from the Drawings on planning applications. it is

    Flat 2 37 Fortess Road
    last sold £425,000 19 Mar 13


    someone has been trying(last refused 2013) to get planning(2013/1070/P) to infill the parking space

    That would have removed 1 and 1/2 the other skylight in the reception/kitchen room.

    (some picture of the flat before/during the planning app)

    There are 2 flats in the basement area and the entrance to the other(flat 1) is off the shared patio area.
    You can see the door just behind the hose tap in picture 8.


    try this link for the planning
    http://camdocs.camden.gov.uk/HPRMWebDrawer/PlanRec?q=recContainer:2013/1070/P
    Originally posted by getmore4less
    As far as I can't tell you're right it's this one Flat 2, 37 Fortess Road NW5 1AD
    Flat, Leasehold, 2 Beds, 2 Baths, 1 Recep

    Get Agent Valuation
    Mar 2013 £425,000

    https://www.zoopla.co.uk/property-history/flat-2/37-fortess-road/london/nw5-1ad/25386376
    Seems like it was on the market 4 years last time?!
    • Crashy Time
    • By Crashy Time 6th Jul 17, 11:46 AM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    Renovations/refurbishment may have cost far more than expected. Now simply trying to extract themselves from the mire.
    Originally posted by Thrugelmir

    Probably didn`t expect the market to turn so quickly.
    • getmore4less
    • By getmore4less 6th Jul 17, 1:13 PM
    • 29,139 Posts
    • 17,424 Thanks
    getmore4less
    As far as I can't tell you're right it's this one Flat 2, 37 Fortess Road NW5 1AD
    Flat, Leasehold, 2 Beds, 2 Baths, 1 Recep

    Get Agent Valuation
    Mar 2013 £425,000

    https://www.zoopla.co.uk/property-history/flat-2/37-fortess-road/london/nw5-1ad/25386376
    Seems like it was on the market 4 years last time?!
    Originally posted by Lamy
    Judging by the pics in the planning app for the side extension it was a right state, can't see any planning for the refurbish, building regs and work done could be hiding stuff.

    The other flat got planning to extend the back and create a private area removing "most" of the garden.

    Also looks like the side extension application was flat1 they may be the freeholder.
    • deannatrois
    • By deannatrois 6th Jul 17, 1:29 PM
    • 4,645 Posts
    • 6,559 Thanks
    deannatrois
    Personally, I have always hated what I call 'awkward' properties that have been squeezed into spaces to make them look habitable. Living in a place with airless windowless boxes for bedrooms (and bathroom) would hold no appeal for me.., but then I moved out of London decades ago. I'm not London material lol. It does suit a lot of people, obviously, but it does sound like you will be spending a lot of your time fighting planning applications just the keep the place as it is. And there's no guarantee you'd win. I wouldn't enjoy living in the same building as the people who were trying to get this planning permission.
    • Crashy Time
    • By Crashy Time 7th Jul 17, 12:52 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    http://www.bbc.co.uk/news/business-40529560
    • DoaM
    • By DoaM 7th Jul 17, 1:18 PM
    • 2,730 Posts
    • 2,758 Thanks
    DoaM
    Shows nothing to support your crashspiracy theory.
    Diary of a madman
    Walk the line again today
    Entries of confusion
    Dear diary, I'm here to stay
    • Crashy Time
    • By Crashy Time 7th Jul 17, 7:57 PM
    • 4,398 Posts
    • 2,020 Thanks
    Crashy Time
    Shows nothing to support your crashspiracy theory.
    Originally posted by DoaM

    Why not...?
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