Media pimped homes for sale - monitor thread

lostinrates

I think the Cambridgeshire one is very beautiful....

fc123

This thread needs some sold prices on it now.

Mind you, loving all the lovely houses I can't afford (and we are meant to be the age group who benefitted from the HPI :rolleyes: ).

I know DS is in the deflation camp but deflation in houses...if it happens, will only happen in real terms and, then, very slowly.
I lived and traded through it in clothing over the past decade.


So.........I have a feeling that 2003/04 ticket prices will be the lowest they can go.

dopester

fc123 wrote: »

You know' I love you' DS but why oh why do you think that prices circa 2002 are still overpriced?

That house is well worth 230k IMO...considering...

How low do we go here?

Well I don't really want to go over my position on that one in this thread fc. I've stated my deflationary expectations for house prices many times, and how far I believe house prices are set to fall. Lower. A lot lower imo.

dopester

From The Sunday Times
June 28, 2009
For sale: Evelyn Waugh's former Georgian mansion
More than half a century since the satirical novelist sold his grand Gloucestershire pile, the house is on the market again, for £3m
Emma Wells

When Evelyn Waugh was trying to sell his family home, Piers Court, in Stinchcombe, Gloucestershire, in 1955, he wrote to his estate agent: “If you happen to meet a lunatic who wants to live in this ghastly area, please tell him.” More than half a century later, the property is again in need of a buyer.

Waugh, who is generally regarded as the greatest satirical novelist of his generation, lived at the Grade II*-listed, eight-bedroom Georgian house for 19 years — it was a wedding present from the parents of his second wife, Laura Herbert, whom he married in 1937. The property, bought for the Waughs for £3,600, and now on sale for £3m, has changed in many ways since his day, but his presence lingers on.

The house was put up for sale last May for £3.5m, then taken off the market two months later after a sale, close to the asking price, fell through. This month, it came back on the market — with £500,000 knocked off the price tag. The house’s owners, who bought it in July 2005 for £2.35m, are unwilling to discuss the sale or the cut in the price, but it is clear that literary connections alone, no matter how prestigious, cannot override market conditions — or the fact that their property, however impressive, is not in the premier league as far as location is concerned.

“It is a fantastic house, with beautiful proportions,” says Mark Lawson, partner at The Buying Solution, a high-end property-finding firm, “but it’s not in a prime area of Gloucestershire, such as the Cotswolds.” It lies nine miles southwest of Stroud, near the less than glamorous town of Dursley.

“Piers Court is a good buy for someone who has £3m to spend and £6m tastes,” he adds. “It falls into the category of prime country house that has been overpriced or is slightly blighted.”

By blighted, Lawson means that the property — reportedly viewed by Cherie Blair when she and Tony were searching for a country home last year — sits uncomfortably close to the M5. “It is a great opportunity for someone who can’t afford that kind of architectural integrity in a more fashionable area,” agrees Ed Sugden, of Property Vision, another buying agent. “But you would have to compromise — there is the motorway noise, as well as amber light pollution.”

Piers Court is for sale for £3m with Knight Frank and Savills

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Rightmove listing (Knight Frank): £2,750,000
Rightmove listing (Savills): Guide Price £2,750,000

dopester

This one was stuck in my memory-bank, but I didn't think I'd be able to remember accurate keywords to pull the article back up. I might see if there is any real data to follow up on this one later, such as comparable asking prices for studio-flats in that area today, but doubt it will lead to any info for what outcome this buyer had with his studio-flat.

Daily Mail: £175,000 flat I bought last year is now worth less than £100,000: Owner's negative equity horror
By Daily Mail Reporter
Last updated at 11:02 AM on 04th July 2008

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However the search did lead me to this interesting media-featured home. Wot no top end buyers around at that asking price?

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London Evening Standard: Food writer chops £800,000 off price of £9.75m home
Mira Bar-Hillel, Property Correspondent
15.07.08
20, Elm Tree Road, LONDON, NW8 9JP



Snippet:

Organic baby food guru Annabel Karmel has had to cut the asking price of her family home in St John's Wood by £800,000.

After six weeks on the market with more than 20 viewings and no suitable offers, she has lowered the price from £9.75 million to £8.95million.

"If I had put it on at £10 million this time last year, it would have been snapped up in a week," said Ms Karmel.

The property is for sale because of her divorce from husband Simon.

Ms Karmel has written 16 books on baby and children's food, sells a branded chilledfood range for children and became an MBE for her work in 2005.

She has already bought and moved into a new property.

Rightmove link 1: £7,950,000
Rightmove link 2: Guide Price £7,950,000
PB Main Info: (Taken from the earliest initial entry of two listings above)
28 January 2009: Price changed: from 'Guide Price £8,950,000' to 'Guide Price £7,950,000' [Found by n/a]
23 October 2008: Initial entry found.
Update 17th June 2010: Google Street View link (wait a moment for it to acquire)
Update: Property Bee (re Rightmove link 2) 17 July 2010: Price changed: from 'Guide Price £7,950,000' to 'Guide Price £7,750,000
Update 10th September (re PB): 09 September 2010 * Price changed: from 'Guide Price £7,750,000' to 'Guide Price £7,500,000'

kennyboy66_2

dopester wrote: »

This one was stuck in my memory-bank, but I didn't think I'd be able to remember accurate keywords to pull the article back up. I might see if there is any real data to follow up on this one later, such as comparable asking prices for studio-flats in that area today, but doubt it will lead to any info for what outcome this buyer had with his studio-flat.

Daily Mail: £175,000 flat I bought last year is now worth less than £100,000: Owner's negative equity horror
By Daily Mail Reporter
Last updated at 11:02 AM on 04th July 2008

I must have seen that story posted several time before but still love reading it, particularly the 4th comment "Oh dear, what a pity. Never mind".

While I disagree with your view on a general 70% fall, I'm sure there will be certain properties that hit that mark -particularly flats.

Great thread though.

dopester

kennyboy66 wrote: »

I must have seen that story posted several time before but still love reading it, particularly the 4th comment "Oh dear, what a pity. Never mind".

While I disagree with your view on a general 70% fall, I'm sure there will be certain properties that hit that mark -particularly flats.

kennyboy. No doubt (re 70%). Some here think it's onwards and upwards of course. Not entertaining further falls of really more than 15-20%. There is a wide difference of opinion. It could be I just buy when values hit a level of affordability I'm comfortable with, or some other value opportunity arises, so am not necessarily holding out for 70% off myself. I've got a pretty good fall-back plan so can afford to be wrong.

Lir, yes that Cambridge house is pretty looking yes. I don't fully know what is involved in owning a Grade II listed home. Lack of knowledge I admit it. For instance... the roof/tiles looks a bit old and dodgy to me. Wouldn't want to be landed with a massive bill for a new roof done to some expensive, special specifications. Also listed or not, pretty as it is, it would still be just as pretty at a much lower price, imo.

NDG once said (and her parents went on to move to a listed building with even tighter regs)

My parents owned a Grade II listed building (the oldest part of the house was built in 1490-odd) for many years.

You do need to get planning permission for structural changes, even including replacing windows, for example. The upside is that you live in a lovely place!

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This one is an update actual 'result', from a press featured home quite a few of us will remember.

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London Evening Standard: Help! I'm suffering brickor mortis
Jonathan Prynn
25.07.08


Rebecca Stenton: won't drop her asking price for her cottage in East Sheen

Snippet:

"But we're getting married in November and have grown out of the cottage so we're looking for somewhere bigger in the same area, as it's local to where I grew up," she says. The cottage is on the market for £425,000 but that is as low as they are willing to go. Her estate agents say they don't understand why no one will buy it.

"If there's still no movement between now and late summer, we'll take it off the market so we don't have to worry about it during the wedding and then maybe think again next summer."

The situation was all very different last August when Rebecca first put the cottage on the market.

"We had bought it in 2006 for £304,000 and were thrilled when we had two local estate agents - Gascoigne Pees and James Anderson - value it at £479,000 and £469,000 respectively. We accepted the higher bid and shortly afterwards it went on the market. We had tens of viewings, but no offers. I suggested to the agent that this might be price-related, but - as estate agents do - they kept saying, 'We don't understand why it's not selling, it's such a lovely price' and told us not to lower it."

They did sell... but not at £425,000 which was supposedly the lowest they were willing to go. Maybe they could have got more if they'd held out a bit longer, what with the bounce (not being sarcastic there).

"We accepted the higher bid" :rotfl:
Highlight the area below for the result.

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Sales Date: 31/03/2009
Price: £305,000

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Confirmed at houseprice.co.uk link

Yoo-hoo. Direct link to Google Street View of no3. SW14_8PH

fc123

dopester wrote: »

Well I don't really want to go over my position on that one in this thread fc. I've stated my deflationary expectations for house prices many times, and how far I believe house prices are set to fall. Lower. A lot lower imo.

You might be correct to have high-scepticism on my deflationary projections for the extent of falling values fc. That is fine, and I really don't want to irritate you, but have to hold true to my own expectations. I could be wrong of course, and you could be right with your "2003/04 ticket prices will be the lowest they can go."



To me 2002 wasn't so long ago... 8 years. Look at how far and how fast house prices have risen. Incredibly rapid gains from positive HPI is perfectly acceptable, natural and once there must be expected to be quite permanent --- but it's implausible for rapid deflation? Is the economy so better placed into 2010 than it was in 2002, or into the late or early 90s?

Undoubtedly some of these media-featured homes being tracked here will go on to sell. There will be sold prices, if that'll make you happy, and I'm sure many will agree they sell at fair value. It won't stop me believing they can't fall further though. Nevertheless it'll be fun for me, and hopefully others, to enjoy the tracking part - as there is quite a UK wide sample now - as the underlying changes in the economy play out.

Personally, for purely my own selfish reasons, I hope you are right.....a big real term drop over the next decade would sort out my lifeplan nicely.

As to making me 'happy' (? ) A few sold prices won't cut it.....would take a whole weekend off. a nice lie in and a warm, sunny day to do that at the moment.:D

Naughty thread this as it got me looking at beachside props in Dorset again (I have been resisting for months as it makes me feel like the character in '3 and out' movie) and they'd all gone. Where's the sob emoticon?


I get the gap though. If the stuff at the bottom is still out of reach of the majority, how do those in the upper/middle get to afford these million pounders? This thread has a lot of the 'sandwich' houses in it.
It's not as though one can rely on an inheritance either. Even if one is the single recipient of a will that leaves you a million pounder, you have to give the Govt 40% over the threshold. The HPI gain just goes in taxes.

So, I imagine these houses sell to others who own ones of similar value and they just sell to each other as many still can't trade up to them. Like the mythical society who's only employment is to do each others washing.


Don't know if you saw this prog? Exactly halfway through, the owner of some care homes admitted he had got greedy and had flown too high. His business model was based on something (truly awful phrase too) 'Granny Farming' whereby they bought large properties, ran them as care homes to min standards and then sold and pocketed the HPI.

I found the prog really disturbing but for other reasons but couldn't face putting up a thread right now...as it links to taxes, HPI and all things topical to this board.


ETA..The 4 million pound house of the care home owner is up for sale as he's in ££££ problems. So, if we can find it, it could be added as he pimped it on telly.

fc123

It looked a bit like this. I have searched Kent and Surrey so far (how many expensive houses are there in Surrey?? I had to go to p11.:rolleyes:)

dopester

fc123 wrote: »

Don't know if you saw this prog? Exactly halfway through, the owner of some care homes admitted he had got greedy and had flown too high. His business model was based on something (truly awful phrase too) 'Granny Farming' whereby they bought large properties, ran them as care homes to min standards and then sold and pocketed the HPI.

I found the prog really disturbing but for other reasons but couldn't face putting up a thread right now...as it links to taxes, HPI and all things topical to this board.

ETA..The 4 million pound house of the care home owner is up for sale as he's in ££££ problems. So, if we can find it, it could be added as he pimped it on telly.

Post edited/deleted by dopester. (Too lengthy and ranty about the owners of 2 of the care homes featured. The miserable conditions for residents and many low-paid caring staff. The comparison with the high rewards one owner pulled out during the boom). Thanks for the TV show link though fc.