Media pimped homes for sale - monitor thread

dopester

Trel it's not like we've been highly critical of any individual imo. It's been fair comment. Totally agree with fc. They've already willingly given their story for big-time national/world-wide media exposure to plug their homes for sale. It's a 2-way thing.

Maybe this thread keeps stops their stories being forgotten, by those of us with a keen interest in house-prices and the economy overview perspective, and so keeps their stories under focus for longer.

Trel, when we head further into 2010, or maybe 2011, if any of those featured were to visit this thread, the main cringe some of them may come to have is looking back on their own stories to plug their homes and being reminded of the boom-world asking prices they hoped to achieve. Those who didn't manage to escape, coming to terms with an acceptable offer. (Some might disagree though and believe their homes will actually be worth more into 2010/11.)

Eg: How did I ever believe this house was worth so much? Why didn't I accept one of those offers which I thought was insulting but now looks like an absolute fortune offer. Why didn't I cut my asking price sooner and accept less of a profit, ect.

Sorry ladies. These two men are not anything for you to get too excited about, except in a house prices/disbelief way. Hamish may applaud their strategy though.

They bought this big home together in North Wales 9 years ago.. so year 2000, having sold 2 other homes. Then they spent just another half-a-million pounds improving this home to their liking.

---

Daily Mail:
Russell Grant: I don't want to move, but then
I don't wear the trousers in this relationship
By Mark Anstead
Last updated at 2:30 PM on 19th May 2009
Bryn Mawr Tan-Y-Bwlch Maentwrog, Meirionnydd, Snowdonia LL41 3YY


Well, at least he saw it coming... The astrologer is selling his Gothic villa for £1.25m.

One mile from Russell Grant's home in North Wales the road runs sharply downhill beside a fast-flowing river. A valley suddenly widens in front of you and the Snowdonia brush gives way to the lushest green.

The two-hour commute to Manchester was taking its toll in the spring of last year, when Russell and Doug first put their house on the market for £1.65million. A buyer emerged, but the sale fell through thanks to a drop-out at the bottom of the chain.

Now they are trying to sell it privately, even though it means reducing the price to £1.25million.

Set in 40 acres, which include a Victorian walled garden, a meadow, a couple of babbling brooks and woodland, the house had been a B& B for 40 years and was in dire need of renovation. There were also stables and a coach house in the grounds that were falling into disrepair, so Doug and Russell got the place down from £475,000 to £400,000.

The couple sold their four-bedroom new-build house in Windsor for £350,000 and a riverside flat in Staines for £200,000, before embarking on a series of expensive improvements.

They spent about £500,000 installing a new Mark Wilkinson kitchen, converting the cellar into a video-recording suite, rewiring, replumbing, replacing all the uPVC windows with oak-framed doubleglazing and converting the loft into an open-plan office.

Key Facts Price:
£1.25million.
Contact: Doug Beaumont, **** *** ****.

---

Dopester note: So, at least at the time of the media-featured home article, Russell's partner was hoping to find a buyer privately and not through an EA. Perhaps hoping for some crazy 'money-no-object' horoscope believing, Russell Grant fan.

I've asterisked out Russell's partner's telephone number for this post as it's in the main article but doesn't need to be included here.

Update 28th Sept 2010: Adding Rightmove (Fine & Country) link: £1,250,000

dopester

fc123 wrote: »

Actaully, I just thought, what is the percentage of those on the thread trading down? Or just getting rid of per se (~as they already have a home)? Are any trading up?

It seems to me the majority on this media-featured thread are downsizers. Way in the majority as the thread has progressed. Hopeful downsizers and a few 2nd home owners, wanting to escape with high value.

dopester

Daily Mail:
Holidays that pay our £1m mortgage:
This Brighton family are covering their
huge home loan by letting their house
for short-term breaks
By Mark Anstead
Last updated at 2:40 PM on 16th March 2009
13a, Harrington Villas, Brighton, Brighton And Hove, BN1 6RG

This means they are now loaded down with more than £1million of debt between the two houses, in spite of having three young daughters under the age of 11.

'Friends thought we were crazy to start maxing out in the credit crunch,' says James, 38, who runs local property search agency findandbuild.com.

'But by holiday letting our old house, we more than cover the mortgage on that property and even produce a profit to help pay our new loan, so we think we're better off.'

On their old house, the couple increased their borrowing from £430,000 to £560,000 and used the extra £130,000 as a deposit on another home costing £625,000. They then had to take out a second mortgage of £500,000 on the new house.

Their old house is still for sale, but while waiting for a buyer it is producing an attractive profit from a steady stream of holidaymakers and stagnight bookings.

The property earns a total of £52,000 a year in holiday rent, a comfortable 40 per cent more than the annual cost of the mortgage payments on the house - even with an interest rate fixed at 5.39 per cent.

'We feel lucky because we've ended up with what we wanted,' says James.

James and Phoebe bought their four-bedroom house in Harrington Villas in 2004 from a developer for £435,000.

One of two semi-detached houses of modern design, its steel, glass and wood structure sticks out noticeably against the surrounding Victorian and Edwardian homes, making it difficult for estate agents and mortgage lenders to value.

When they came to sell early last year, estate agents valued the home at between £550,000 and £750,000, so they put it on the market for £600,000.

They were surprised to be offered the asking price within two weeks, but as the credit crunch deepened, the buyer tried to negotiate and after they refused a £30,000 reduction, the sale fell through.'Having just been told our house could be worth a lot more, I found it galling to drop the price any lower,' says James.

'But when our buyer dropped out and we couldn't find another, I realised we may have made a mistake.'

It was Phoebe who suggested they extend their mortgage and consider holiday lets, even though it meant starting a holiday business on the side (an additional risk at any time, even without the recession to worry about).

---

Note: Article says 1-of-2 semi-detached of this design, against more traditional surrounding buildings, so I'm 84% confident of the RM listing match)

Rightmove link: £565,000
PB Main Info:
02 October 2009: Initial entry found.
Update 05th September 2010: Streetview linky

fc123

dopester wrote: »

Trel it's not like we've been highly critical of any individual imo. It's been fair comment. Totally agree with fc. They've already willingly given their story for big-time national/world-wide media exposure to plug their homes for sale. It's a 2-way thing.

Maybe this thread keeps stops their stories being forgotten, by those of us with a keen interest in house-prices and the economy overview perspective, and so keeps their stories under focus for longer.

Trel, when we head further into 2010, or maybe 2011, if any of those featured were to visit this thread, the main cringe some of them may come to have is looking back on their own stories to plug their homes and being reminded of the boom-world asking prices they hoped to achieve. Those who didn't manage to escape, coming to terms with an acceptable offer. (Some might disagree though and believe their homes will actually be worth more into 2010/11.)

Eg: How did I ever believe this house was worth so much? Why didn't I accept one of those offers which I thought was insulting but now looks like an absolute fortune offer. Why didn't I cut my asking price sooner and accept less of a profit, ect.

Sorry ladies. These two men are not anything for you to get too excited about, except in a house prices/disbelief way. Hamish may applaud their strategy though.

They bought this big home together in North Wales 9 years ago.. so year 2000, having sold 2 other homes. Then they spent just another half-a-million pounds improving this home to their liking.

---

Daily Mail:
Russell Grant: I don't want to move, but then
I don't wear the trousers in this relationship
By Mark Anstead
Last updated at 2:30 PM on 19th May 2009



Well, at least he saw it coming... The astrologer is selling his Gothic villa for £1.25m.

Key Facts Price:
£1.25million.
Contact: Doug Beaumont, **** *** ****.

---

Dopester note: So, at least at the time of the media-featured home article, Russell's partner was hoping to find a buyer privately and not through an EA. Perhaps hoping for some crazy 'money-no-object' horoscope believing, Russell Grant fan.

Someone inspired by the article - instead of going via an EA. Anyway they're both wishing on stars, back to old asking price. I've asterisked out Russell's partner's telephone number for this post as it's in the main article but doesn't need to be included here.

Zoopla listing link (with pics) which names the EA now marketing this property: £1,650,000

Estate Agent (Dugdale Rolafson And Associates*): £1,650,000
*Link above goes to home page of the EA. The way the EA's website is set out, I can't link directly to the listing page for Russell and Doug's house. I found it on page 2 of 2, when searching their site for homes with asking price of £1m+.

1,25 million for N Wales seems crazy.

We earn above average most years and couldn't afford to trade up to anything like the prices on much of this thread...I know far higher earners than us who couldn't either.
We could all only trade sideways ....therefore any HPI is a bit meaningless until we die or move into a tent.

Russell Grant? Does he still do Telly work? Personally, one can't beat Shelley Von Strunkel for accurate horoscopes.

Aside from houses, the other big change to come, I believe is salaries for certain types of jobs. The David Bowie Sydrome is nearly over for many in music (write, perform, do well and earn an absolute fortune) plus telly salaries seem to be reducing (as there is so much of it now).

fc123

Their old house is still for sale, but while waiting for a buyer it is producing an attractive profit from a steady stream of holidaymakers and stagnight bookings.

Very brave of them.......stagnight parties; can cost more in the clean up than the fee they receive for the weekend.

Anecdotally, I heard most hotel/B+B bookings were down in Brighton this summer. There was still full occupancy for weekends such as Pride and school holiday period. Eurozone visitors were a bit higher but not enough to cover the weekenders who are cutting back now.

silvercar

Strange these people who promote themselves with their houses. Do they think the "I've lived here" adds value? Or that a picture of themselves will help sell the place, "Hey, buy my house then you can look like me"! Or that the pictures of themselves will detract from anything lacking in the house.

fc123

silvercar wrote: »

Strange these people who promote themselves with their houses. Do they think the "I've lived here" adds value? Or that a picture of themselves will help sell the place, "Hey, buy my house then you can look like me"! Or that the pictures of themselves will detract from anything lacking in the house.

Well James Bond thought so.....despite The Jacket (I will write no more personal critiques on dress sense...promise) but the MS couple I have a lot of sympathy for......long term business (which I am sure had ups and downs) and MS strikes one of them. I would bet a million pound house they would swap good health tomo for the property.

fc123

To be fair....if you didn't know they were up to their eyes in mortgage debt, it could be any family promoting gravy granules, the availability of Tax Credits or a local state primary...................or a channel 4 makeover ad for mens haircuts......sorry couldn't help myself ...the shallow trivial side of me popped out for a second.

fc123

Sorry to hear about your stepdad....DD's friend's mother has it and is only young.....maybe late 30's. She is struggling to walk now.

When I read these things I don't grumble about my own trivial things for a day or 2.

I wonder what the accounts are like for their business. Wonder if it generates enough profit to fund a mortgage for 4.5 million.? In essence, that is what they are selling really...a business with home attached.

---

OK, I was thinking about bling houses today whilst working.

If HPI hadn't happened (or only a little bit to keep up with inflation), could we afford to trade up (if we chose to) to some of these places? Not the 4 million pound stuff but something in the 600k range say.

Answer; yes, probably .....if we wanted the burden of more mortgage but the gap would have been affordable.

Could we consider buying a 600k house now if we sold our current one at a 2003/04 price? No way at all...the gap is too huge. Way too much extra mortgage to take on.

So, this is the market that is the most interesting afterall. Will take time to filter through though.

I wrote somewhere else that some higher earners are feeling the squeeze now (Liz Jones being the most high profile) plus read about the Foundation mortages on the other board where people are having their drawdown limits reduced.
A couple I know (mid 40's) maxed it out in 2007 buying 2 BTL's with their drawdown (£500k total)...they'll survive I guess but wasn't a good move.

Years ago, mortgages were really dull...a bit like HP really. They seem to be the next thing to change, so may have an affect on this level of the market also.

dopester

fc123 wrote: »

To be fair....if you didn't know they were up to their eyes in mortgage debt, it could be any family promoting gravy granules, the availability of Tax Credits or a local state primary...................or a channel 4 makeover ad for mens haircuts......sorry couldn't help myself ...the shallow trivial side of me popped out for a second.

I see what you mean.:rotfl:

Your best call there is the family promoting gravy granules to me - very definitely, although this family for your Tax Credits advert now looks a perfect one too.

They also look like the new arrivals to move in to a house in Ramsay Street/Neighbours.

I like that game. A friend used to have us laughing a lot with his making up believable alternative stories up from the pictures and paintings.