pathetico propertio

Sprintz

pointless rant BUT just saw Property Ladder eppy with Richard Chan and Isabelle Peno.

they bought end 2006 (£400K) and finished renovating mid 2007 (cost £450K) :eek:

disagreed with more or less every good idea thrown at them, 2 years later still trying to sell on RightMove


pah jus when i thought all property developers appearing on that show had the golden touch

socrates

Cannot open the eppy link - whats the general point?

Sprintz

Tue 30 Dec 6:55 pm More4

http://www.channel4.com/video/property-ladder/catchup.html


just to show more money than sense!

if you have money and lots of it right now - stay away from the property market

wait a few yrs before you tighten the noose around your scrawny young neck

if you still foolish enuf to play, then at least offer 25% off price and be prepared to walk away

poppysarah

Loads of them only made money because of a rising market - and most of them abused friends and family to get the work done. She did at one point start calculating man hours and taking that off their "profit".
Of course if you work in a factory why not ask your mum and sister to come and help you out to make you some money ....;-)

Sprintz

true that saving grace is now long gone for a few years

i would never borrow from friends&family - recipe for disaster

hopefully new season will show harder to make so much "easy" profit, as young naive minds are brainwashed to following the bricks&mortar road

it's sad to see so many eager buyers when it's likely many will lose their jobs and their credit rating shot to hell when they become repossessed

many like me know the posters wont change their mind, but i do like the advice ppl try and give here for damage limitation

spuds_2

There's a discussion elsewhere about Homes Under The Hammer - recently the valuations have been quite low (filmed June 08) and people have been making very little profit on some quick refurb projects. A Torbay developer who bought a house for £500k and demolished it, wanted £250k for each flat he built, now on Rightmove at £175k each.

besonders1

I quite enjoy watching it now and see greedy developers get a well deserved negative valuation. It used to make me sick watching someone pay peanuts for an old rundown house, paint the walls magnolia and sell it for millions. Some people still wear those rose tinted glasses, I suggest they go to Specsavers!

Sprintz

never watched Homes under Hammer until you mentioned it Spuds (just watched 2 back to back lol)

haha the torbay developer was deadset against lowering prices from £250K and now he has dropped to more reasonable prices (actually think he shud lower it to 160K)

you know he was screwed over by the council - if they didn't delay the planning permission, then guaranteed the 9 flats would be on sale in 2007 and def fetching asking price by more money than sense buyers!

Besonders - exactly same thoughts. Hopefully this will be the end of whitewashing entire properties and selling for a killing

spuds_2

Well, it is a bit like revelling in other people's misery, but who can help smiling when someone irritating on HUTH or Property Ladder gets a low valuation and you see their face drop. I have genuine sympathy for FTB's who now find themselves in negative equity, but BTL or property renovation is a business like anything else.

I am looking forward to the new series of PL as the falling market is going make it hard for the numpties who usually go on it to make a profit.

besonders1

they'll need to the extra money from the show to pay for their loss. I too fell sorry for FTB's which are under threat of NE but then again they bought it as a home not just to make dosh. I bet you the shows will stop for good in a few months when almost every developer starts to make a loss, As we've all noticed that negative equity has started to hit some of the participant's on the show which is embarrassing for the people that promote the show.

spuds_2

There was an interesting article in a newspaper a few weeks ago. It was a 'trend predictor' explaining what happens in a recession - 'shabby chic' furniture and more homely styles become popular, low-tech becomes cool again. An off-shoot of this is that there will be less 'your house as an investment' shows on tv, and more 'your house as a home' type shows.

You can see this already with The Home Show, presented by George Clarke, on C4. I almost feel with that that they adapted the voice-over to take the property crash into account - it seemed to be an 'adding value' show which turned into a 'love your home' show. After years of shows about money from property, there will be lots about growing your own veg and making your own soft-furnishings.

I can't see how they can do a new series of the dreadful "To Buy or Not to Buy" when noone can get a mortgage anyway...