More 'Sold' Signs Appearing.

27col

I don't know if it is just my imagination, but lately I think that I have begun to notice a few more 'sold' or 'sale agreed' estate agent's signs around my immediate area. Is this a nationwide trend that others have noticed as well. I suppose that it may be due to more sensible asking prices. Can't tell yet about prices until the new figures appear on the internet.

princeofpounds

Could be all sorts of reasons. In my area around the worst point in the crash there were tons of 'sold' signs up and very few for sale.

Actually tracking the sales on the land registry since, it turned out that most of these were not really sold but rather estate agents trying to pretend they were managing to sell properties. Some eventually sold (and the signs went... slowly!), other didn't.

The primary function of these signs is advertising for estate agents, not the properties - after all, if you are looking for a house do you a) visit rightmove b) call agents or c) wander around every street in the area? Admittedly you might do c if you want to be in a very specific place or have been searching long enough, but it's not the way most people are actually introduced to a property.

westv

princeofpounds wrote: »

Actually tracking the sales on the land registry since, it turned out that most of these were not really sold but rather estate agents trying to pretend they were managing to sell properties. Some eventually sold (and the signs went... slowly!), other didn't.

If I was selling my house and it hadn't sold but the EA decided to put a "Sold STC" on it I would be asking questions.

Out,_Vile_Jelly

The agent I went through kept up their (gaudy and ugly) "let by" sign for over 3 months after I moved in. A real eyesore.

Soot2006

I spent the first 5 months of this year looking at houses. The same houses were in the market through this whole time (I know because I looked at them all and kept an eye on Property Bee for any changes). Almost all of these houses have in the last two-three weeks suddenly changed to "Sold stc" ... but our vendor's EA reckons the pick up was nothing beyond the normal spring boom and he isn't counting his chickens yet!

cattie

Realistically priced houses in my area have been selling reasonably quickly for some months now. I've noticed it's the houses that are still hoping to achieve the prices close to the peak that arent shifting. There aren't that many houses coming onto the market though, so obviously so many people are deferring thoughts of moving in the hope house prices will shoot up again in the not too distant future.

The other thing I've noticed in most ea's are setting prices at realistic levels but one particular agent, out of about 5 in my area, seems to be pricing above what similar houses are with the other agents.

Gwhiz

Out,_Vile_Jelly wrote: »

The agent I went through kept up their (gaudy and ugly) "let by" sign for over 3 months after I moved in. A real eyesore.

Why not just take it down and dispose of it rather than stare at it for 3 months? That's what I do.

princeofpounds

If I was selling my house and it hadn't sold but the EA decided to put a "Sold STC" on it I would be asking questions.

True, it seems odd, but these houses didn't sell and we are over 6 months on now so they would be in the registry, and if the sales fell through none ever came back on the market.

Behind my house are a bunch of newbuild flats (low-rise). The day the signs were put up they were 'let'. Three months later and no-one had moved in. They have now let about 3/4 of them about 8 months on.

A bit further down the same road was a new development I walk past on the way to work. The owner must have been desperate as 6 estate agent signs went up on it almost overnight. Half were 'for sale' and the other half were 'sold'. Roughly 5 months on new signs appeared with a mix of 'to let' and 'let'.

This is a main road, so the agents always try to plaster it with as many signs as possible on each property they get.

The house opposite me went 'for sale' and 'sold' as normal with one estate agent around Feb time. Appeared in land registry, so did go through. Then a couple of months ago a different estate agent's sign appeared saying 'sold'. This one doesn't appear to be actually for sale or sold anywhere by this agent, so no idea what it's doing there, but the people who live there don't seem to mind. Maybe they work for them!

I don't know exactly why stuff like this happens, but all sorts of odd things go on with these boards.

You know it's actually illegal for agents to have boards up longer than 14 days under advertising regulations once let or sold? They break this all the time but if you are having problems with getting one removed in the area just write to them saying if it's not removed you will speak to planning and the OFT. They go overnight I had to do it once when the agent wouldn't remove the one on my flat.

princeofpounds

Why not just take it down and dispose of it rather than stare at it for 3 months? That's what I do.

While you can take them down, you aren't actually allowed to dispose of them as they are the agent's property. It's very annoying. Although i've never known it to happen to anyone personally, i've seen a few posts online where agents start to bill people who do it.

Out,_Vile_Jelly

princeofpounds wrote: »

While you can take them down, you aren't actually allowed to dispose of them as they are the agent's property. It's very annoying. Although i've never known it to happen to anyone personally, i've seen a few posts online where agents start to bill people who do it.

In my last place I did come home drunk one night and wrench out the sign for the flat below me (let had been completed over 6 months previously). Got picked up by them a couple of days later so result.

Idiophreak

princeofpounds wrote: »

True, it seems odd, but these houses didn't sell and we are over 6 months on now so they would be in the registry, and if the sales fell through none ever came back on the market.

Lots of reasons why this could happen - lots of downvaluation around these days..and a lot of people who aren't willing to sell at the valuation they give...