Has anybody bagged a bargain?

neverdespairgirl

beingjdc wrote: »

I
Nonetheless a friend lives in this block and says it's quite nice - a bit further out than me but still well within Zone 2, and I think they'd bite my hand off if I offered £135k

Sorry to be negative, but I think that's horrible, and £135k.....!

temba

I've been looking around and I think alot of vendors are still in denial that the fall in prices will apply to them. I went to see a few houses, and the difference in prices is staggering. I think the estate agents genuinely don't know how much things are worth at the moment, they were anxiously asking me what I thought, and if I thought the prices were too high. I saw a house, in a dreadful state, needed everything doing, and it has been on the market for a year. They were asking £40K more than a similar house in the same road has just gone up for (which needed nothing doing to it), and their argument was, "but we've already reduced it twice". Well it has been on for a year in a falling market so what do they expect?! Needless to say I wasn't interested in buying it!

I did hear of a 4 double bedroomed Victorian terrace with garden and off road parking in a very nice part of Manchester for £189K which sold the day it went on the market. THAT was a bargain.

neverdespairgirl

bo_drinker wrote: »

London as I have said before it is well known as the stabbing capital of the UK.

I've lived in London for 30 years, and not got stabbed yet!

(Well, apart from the time I was slicing carrots and added a bit of finger)

hethmar

Sadly, all those London ones are also pretty grim ex LA arent they.

huntersc

hethmar wrote: »

Im still keen to hear about London properties at that price and 1000 times better please - genuinely

Here's one for starters, http://www.rightmove.co.uk/viewdetails-11205378.rsp

Even this one would be okay. http://www.rightmove.co.uk/viewdetails-10707738.rsp

That took me about 20 seconds.

draconian_2

Well We managed to get £60k off a new build from a desperate builder and they are paying the stamp duty (over £11k) along with a few other "nice to haves".

Mortgage offer came through so hopefully its all go - house wont be ready for a while which gives us a chance to sell the current home (but thanks to other half not reliant on this sale to buy the new house) in the next 5 months.

We are over the moon!

D

huntersc

PropertyPro wrote: »

Position is everything. It doesn't matter what the market is doing.

Living in Surrey Quays makes it easy to commute into any part of Central London which instantly makes it attractive to people who spend a lot of time in the office and don't want to spend a large proportion of their lives commuting.

I agree that there's plenty of room for negotiation on price, but if it ever drops to 50k in that location, then we should all grab our coats and will the last person to depart these shores kindly turn the lights out.

I get the feeling that you're an estate agent?

As for position being everything, yes, I'm well aware of that currently living in Notting Hill, recently moved from Knightsbridge and before that Wimbledon Village and Richmond.

So yes, position is very important but that particular property is not in any great position. I know the area reasonably well and that road is a horrid. That area at least up to Helena Road is druggy hell.

Buying that particular property is an absolute nonsense. It is a bad investment no matter how you want to spin it.

I very much doubt house prices are going to fall ridiculously but, another 10% or so is more than likely so don't think I'm one of these tin foil people because I'm not. What I am is someone who would suggest that it doesn't take much for a property like that to be negotiable to £50k. without a great deal of effort especially as they were originally sold for around the £25k mark and £50k is not far off 2001 prices.

For further pictures here's a link http://powering.expertagent.co.uk/(S(cghcux55wmlvpv3fmzeldzf4))/PropertyDetails.aspx?pid=e791f761-7cbf-43c6-8215-c9135892bb6d&aid=!!77a3366d-da38-4152-871f-168d49371ff0}
£135k? Ha!

neverdespairgirl

hethmar wrote: »

Sadly, all those London ones are also pretty grim ex LA arent they.

Well, mostly, yes. But still in zone 2, don't start moving the goal-posts (-:

Actually, I think those Lewisham ones are OK:

http://www.rightmove.co.uk/viewdetails-20125418.rsp?pa_n=1&tr_t=buy&mam_disp=true

I grew up near here, and would chose that out of the list I posted before.

dopester

huntersc wrote: »

Are you absolutely BANANAS?????????????????? You think that is good value? I think they'd bite your hand off for £100k and you'd still be being ripped off.

It's in Surrey Quays, ex council and top floor no lift. I could find a lot of places in London 1000 times nicer than that. No offence but that's a toilet. Please don't buy it, you won't get your money back for 30 years, or at least until the council decides to knock it all down.

I don't mean to come across too strongly but I cannot believe you would even consider that at that price. That's a £50k property in 18 months time. £135k. OMG!

Class post. When I went to the auctions rooms with my Dad in the early 90s (education only).... there was a run of listings in the catalogue for the day on places like that in Salford / Stretford, and they were selling for £1500 - £1800. Admittedly different area entirely, and I've no idea what the flats went on to do in the boom... but it was a big lesson.

dopester

sillyvixen wrote: »

the prices of property in my area may have dropped 20,000 in the last few months but i still need a roof over my head. so its not a problem!

So you bought 2 years ago... how much would it have cost you to rent a similar place for a year?

£10,000 a year or less?

Renting still gives you a roof over your head.