Bizzare housenetwork pricing..

QTPie

Ok, I have far too much time on my hands, but...

...was reading another thread on here where someone was saying that quite a few people using housenetwork.co.uk were not pricing their properties realistically... Well I haven't looked at housenetwork before, so thought that I would have a nose.

I was looking in the South West of England and saw this - http://housenetwork.co.uk/my_site.asp?id=topwood&house=1

I was perplexed: I know a £1.5m+ home when I see one and this fairly standard 6 bedroom detached house, in a cul de sac os similar properties, couldn't be worth £1.75m, could it?

So I looked at the photos. I looked at aerial photos (to check that the house was pretty much identical to it's neighbours and on a similar sized plot). THEN I checked houseprices.co.uk... http://www.houseprices.co.uk/e.php?q=BA3+5EZ&n=10

So their IMMEDIATE neighbour sold for £295k in Feb 2007 and, looking at the prices of the other houses in the cul de sac, it looks like all of the houses in "Top Wood" would be in the region of £250k/£300k ish. So where did £1,750,000 come from?

So I sent a query form off (said I have too much time on my hands) asking them to confirm the price. Answer came back "yes, £1,750,000". I emailed back explaining what I have said above (i.e. the immediate and virtually identical neighbours would be valued in the region of £250k/£300k) and asked what could possibly justify this house having an asking price of £1,750,000.

The answer came back: "We are looking in to this as have spoken to the vendor and are not entirely convinced of his reasons.". They will come back to me when they have ressolved it...

So whoever posted that SOME people who put houses on housenetwork.co.uk "aren't in touch with reality" has a point. There is no way that a traditional estate agent would have put that house on the market at that price: just seems like lunacy to me.... :rolleyes:

QT

Wickedkitten

1.75 million for THAT? They must be having a laugh

Here in Cheltenham, 1.9 million would get you this

http://www.rightmove.co.uk/property-for-sale/property-23870252.html

1.5 million would get you this

http://www.rightmove.co.uk/property-for-sale/property-15389527.html

and 1.3 million would get you this

http://www.rightmove.co.uk/property-for-sale/property-24620705.html

Hell, even 1.25 million would get you this

http://www.rightmove.co.uk/property-for-sale/property-20533111.html

QTPie

Wickedkitten wrote: »

1.75 million for THAT? They must be having a laugh

Oh absolutely complete!

Complete lunacy... I just can't believe that someone can post an advert on there that is quite so ridiculous... :eek:

QT

tom9980

ever consider its a typo and they added one extra 0 ?

QTPie

tom9980 wrote: »

ever consier its a typo and they added one extra 0 ?

Not by the sounds of it.... since (see post above) they spoke to the vendor and confirmed that the price WAS £1,750,000... BUT they are looking into it because they are not convinced of the vendor's reasons for having it at £1,750,000.

We will see if they get back to me again...

QT

SavingSteve

It's prob someone trying their luck, don't need to sell but thought, what the hell, if we can get silly money let's chuck it on.

confused31_2

I was going to use the housenetwork when they where doing the 0.75% fee and no charge up front, now they only do the deals where they charge up front so whether they sell your house or not doesnt matter to them, has they have already paid.

Infact when i phoned them i asked them if i could go on the 0.75% and they said they would phone me back and they never so i didnt contact them again.

I mean how many estate agents get over 200 pound when they come and take the details of your house and take a few photographs, not many but housenetworks agents do, well they get a cut and i bet its more than what traditional estate agents are earning now in commision.

they dont care what you want to price your house at, theyve already had their money, but why someone would put their house up for that much is a bit strange

poppysarah

houseladder near me has one for 159k - presumably local EA told him it wouldn't get anywhere near that - he's now stuck a "or to let" bit of paper under his for sale sign...

ABN

12 May 2008 02:15:27

• Price changed: from '£750,000' to '£1,750,000'

22 April 2008 22:52:09

• Price changed: from '£380,000' to '£750,000'

08 March 2008 23:22:17

• Price changed: from '£389,000' to '£380,000'

21 February 2008 01:35:03

• Price found: £389,000
• Status found: Available

Think he must have painted his walls magnolia around April/May time

kunekune

How bizarre!!!! I wonder whether this is someone who has been told they have to sell, eg, a marriage breakdown, and this is their way of saying they have no intention of doing so. The first doubling of the price was weird, but then to add a million on top just makes you want to see the whole story!

poppy10_2

kunekune wrote: »

How bizarre!!!! I wonder whether this is someone who has been told they have to sell, eg, a marriage breakdown, and this is their way of saying they have no intention of doing so. The first doubling of the price was weird, but then to add a million on top just makes you want to see the whole story!

Yeah, and it's been on that price for nine months, more than enough time to correct it if it was just a typo. So strange.
http://www.rightmove.co.uk/property-for-sale/property-7325085.html