Help valuing property

goonernumber1

http://www.rightmove.co.uk/property-for-sale/property-58537760.html


Dear All,


We are considering purchasing the above property in Elm Park, near Romford.


We viewed it when it was marketed as OIEO of current asking but didn't offer but have noticed that the OIEO following an unsuccessful open house has been removed.


we immediately offered £315,000 which was declined suggesting that the vendor is after the asking price.


We are slightly concerned that Zoopla suggests average house prices for that post code dropping considerably since January.


http://www.zoopla.co.uk/property/63-elm-park-avenue/hornchurch/rm12-4sn/19855003


Does anybody have good knowledge of he local area and consider it being worth the asking price?


Thank you in advance for your time.

ellie27

Just looking at the past sales on that same street it seems it is WAY overpriced, but I have not looked that close at the other sales.

http://www.rightmove.co.uk/house-prices/RM12-4SN.html;jsessionid=913FDD5AFB8951DA0D571BDC4337DB0E?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E1207910%26minPrice%3D290000%26maxPrice%3D375000%26minBedrooms%3D3%26radius%3D0.5

Zoopla has been pretty useless for any houses we have bought/sold and just useless in general with their 'estimates'

goonernumber1

ellie27 wrote: »

Just looking at the past sales on that same street it seems it is WAY overpriced, but I have not looked that close at the other sales.

http://www.rightmove.co.uk/house-prices/RM12-4SN.html;jsessionid=913FDD5AFB8951DA0D571BDC4337DB0E?backListLink=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DPOSTCODE%255E1207910%26minPrice%3D290000%26maxPrice%3D375000%26minBedrooms%3D3%26radius%3D0.5

Zoopla has been pretty useless for any houses we have bought/sold and just useless in general with their 'estimates'

Thanks for your comment.


The only thing that I was taking into consideration is that last sold house was way back in March '15 and we all know what has happened t house prices in that time.

ellie27

goonernumber1 wrote: »

Thanks for your comment.


The only thing that I was taking into consideration is that last sold house was way back in March '15 and we all know what has happened t house prices in that time.

Ah I see, I guess it all depends on where you are? Nothing has changed with house prices since then in Glasgow!

goonernumber1

ellie27 wrote: »

Ah I see, I guess it all depends on where you are? Nothing has changed with house prices since then in Glasgow!

This is classed as outer London with excellent transport links into London.

6feet

Is there anyway you can stretch to this price?

http://www.rightmove.co.uk/property-for-sale/property-58537760.html

Elm park is not the better part of Havering. I know the area well as I lived in Hornchurch for 12 years before moving to southend. Cross rail is coming soon to gidea park station which is already a good train line.

goonernumber1

6feet wrote: »

Is there anyway you can stretch to this price?

http://www.rightmove.co.uk/property-for-sale/property-58537760.html

Elm park is not the better part of Havering. I know the area well as I lived in Hornchurch for 12 years before moving to southend. Cross rail is coming soon to gidea park station which is already a good train line.

I think you may have copied and pasted my link into your comment.


Because we really don't want to move the little on out of her school we are ever so slightly limited.


Please repost if you can.


We live in Hornchurch currently (renting) and know Gidea Park well.


Thanks again.

6feet

Sorry!!

http://www.rightmove.co.uk/property-for-sale/property-58794512.html

http://www.rightmove.co.uk/property-for-sale/property-40532448.html

House prices are crazy near Gidea park right now. You may want to wait a bit longer to see if the market cools...

Can you commute your little one back to their school? Is the school that good that you can't move schools?

goonernumber1

6feet wrote: »

Is there anyway you can stretch to this price?

http://www.rightmove.co.uk/property-for-sale/property-58537760.html

Elm park is not the better part of Havering. I know the area well as I lived in Hornchurch for 12 years before moving to southend. Cross rail is coming soon to gidea park station which is already a good train line.

Also, assuming that from your comment you do not think that £325k represents good value?

6feet

I think that is pricey for Elm Park. Do you need the district line to commute to London?

TFL to Liverpool street is so much faster and when crossrail hits getting to the West end will be so much better, but that is my life LOL!

What is important to you regarding location? You may not have to commute to London. What are your educational plans for your child?

Our child attended Ardleigh green primary which is a top 100 primary school in the country.

We did not find the senior schools good enough so moved to southend for the Grammar schools.

We left a great commute to a longer one as we both work in London but a great education in the state sector was our number 1 priority in choosing where to live.

WHat are your prorities and goals as a family? Is it to own a home and get out of renting?

goonernumber1

6feet wrote: »

I think that is pricey for Elm Park. Do you need the district line to commute to London?


Not particularly. Can use district line or TFL from Rom / Gidea park. This isn't a concern.

TFL to Liverpool street is so much faster and when crossrail hits getting to the West end will be so much better, but that is my life LOL!

What is important to you regarding location? You may not have to commute to London. What are your educational plans for your child?


Reception class currently in an 'outstanding' school which we can reach from Hornchurch and elm park. Wife doesn't drive hence the issues with location.

Our child attended Ardleigh green primary which is a top 100 primary school in the country.

We did not find the senior schools good enough so moved to southend for the Grammar schools.



A long way off.

We left a great commute to a longer one as we both work in London but a great education in the state sector was our number 1 priority in choosing where to live.

WHat are your prorities and goals as a family? Is it to own a home and get out of renting?

This is the priority. Currently paying £1300 p/m rent. Want to get out of that and in position to buy now. Don't want to be in negative equity for years after buying a highly inflated property however.


Thanks again.