Not So Grim Repo

Davesnave

dopester wrote: »

Interesting. If only it could be teleported to a better area. Not everything is good value because the asking price is now much cheaper than in previous years.

I bet that place could be expensive to maintain, repair and heat. How far away from areas of business which still have prospects of successful and profitable trading? Gas supply / water pipe / electricity issues that are the responsibility of the utility company to fix? Will they spend a lot to serve one isolated house or increasingly fob you off as they conserve or focus their money? Isolated. May look a wealthy pad even when isn't, so a target for robbery in the downturn? Lots of these houses will give up a lot more of their asset value.

I said I wouldn't go for it myself, but it's not isolated, being only 1/4 mile from a substantial settlement and among houses, many of which have been around a long time. It's also roughly 20mins drive from the end of the M4, so less than an hour from Cardiff.

Even if it were teleported to some place where its style would fit in, I still don't think it would appeal. Due to cheap land prices, the 'execootive residence' is, in fact, quite common in this part of Wales, but this is one of the more extreme examples. Although it's not to my taste, it was clearly someone's pride & joy.

PasturesNew

Cost £490k in 2006
http://www.houseprices.co.uk/e.php?q=Brynderwen+Rhosfa+Road%2C+Upper+Brynamman%2C+SA18&n=100

So 40% off that price

dopester

Davesnave wrote: »

Due to cheap land prices, the 'execootive residence' is, in fact, quite common in this part of Wales, but this is one of the more extreme examples. Although it's not to my taste, it was clearly someone's pride & joy.

It doesn't particularly strike me as overly-chav. Many of the newer homes around here are built similar to that, or at least it seems that way to me. Not something that appeals in any way to me though.

COUNCIL TAX: BAND H (Council Tax 2009-10 - £2174.76)

Mike Tyson's abandoned home though - yuk. That is how I see a few of your luxury homes in remote UK areas going, or homes where employment opportunities are increasingly getting tougher. Left to rot. Very few buyers wanting to buy them. Values falling and falling. An hour from Cardiff? Cardiff has it's own challenges ahead.

PasturesNew

Bonus find - it belongs to a Property Development company

http://www.brynderwengroup.co.uk/

mewbie_2

PasturesNew wrote: »

Cost £490k in 2006
http://www.houseprices.co.uk/e.php?q=Brynderwen+Rhosfa+Road%2C+Upper+Brynamman%2C+SA18&n=100

So 40% off that price

Just quote that again. 40%!!! The state of the place doesn't look like it was an orderly exit from the property. Not exactly 'dressed for sale' More like given up, repossessed, that sort of thing.

lostinrates

OK, so its a little vulgar as it stands, but it wouldn't take much imagination to make it rather lovely.

Poshness of area wouldn't bother me too much at all, personally...but I can understand why that, and more important access to work really would be.

mewbie_2

Guys please. It's Wales. No one wants to live in Wales. The only reason their house prices went up at all was because the rest of the country was priced out of where they wanted to live. Even the BTLers were buying Welsh property several hundred miles way from them.

Er. No offence to the Welsh of course.

dopester

Davesnave wrote: »

Just thought some of you might like to ogle this amazingly cheap and obviously repo'ed property which dropped into my inbox today.

The asking price doesn't even stand out as particularly good value against all the other homes in postcode SA18 on Rightmove.

This 4 bed house is £40K cheaper, and many other examples to compare it against.

Davesnave

dopester wrote: »

The asking price doesn't even stand out as particularly good value against all the other homes in postcode SA18 on Rightmove.

This 4 bed house is £40K cheaper, and many other examples to compare it against.

That one is in Ammanford, sandwiched between the railway and the A474, and Ammanford isn't pretty. It's also a lot older and hasn't the land. The original one posted is literally just across the road from the Brecon Beacons National Park, so at least the views will be OK.

But I haven't done any detailed research (Thanks PN for your usual efficiency!) and I dare say there are plenty of comparable 'bargains.' I'm agreeing with you really. My point was that these are the sort of properties that will take a real hit.

Personally, I think the property I posted was a total aberration in the location where they chose to dump it; a real 'carbuncle' as someone else used to say. However, Welsh planning, such as it is, has allowed many of these grand gin palaces to spring up in incongruous places, probably because the locals thought this was a sign of the area gaining in 'prosperity.' As you rightly point out, this isn't lasting economic development.

Davesnave

lostinrates wrote: »

OK, so its a little vulgar as it stands, but it wouldn't take much imagination to make it rather lovely.

Poshness of area wouldn't bother me too much at all, personally...but I can understand why that, and more important access to work really would be.

Bearing in mind the surrounding properties, and the location, would you really feel comfortable in something that ostentatious? I know I wouldn't.