35% discount

Crashy_Time

kinger101 wrote: »

35% discount to what? Prices are only ever decided once a sale completes. It's not unusual for chancers to ask for silly amounts they'll never achieve. Anyone buying a house in a normal market knows an agent has lots of stock that will never shift, and new instructions that will sell in under a week.

Puts the "supply and demand" argument to bed doesn`t it? Of course this isn`t a normal market, it is a property bubble ready to pop.

Crashy_Time

Looks like people don`t think big debts to prop up the bubble are such a great idea any more?


http://www.hamhigh.co.uk/property/help-to-buy-falters-with-only-13-loans-issued-through-scheme-in-camden-1-5091935

PField

The agent is Foxtons and that's their tyapical tactic. Value the property at signifIcantly more than it's worth initially to get the bussiness from the vendor. If someone bites great, if not suggest they lower the asking price to something more realistic.

Crashy_Time

https://www.theguardian.com/business/2017/jul/05/shard-apartments-empty-flats-london-market

Crashy_Time

http://www.independent.co.uk/news/business/news/foxtons-countrywide-shares-brexit-eu-what-will-happen-to-house-prices-a7105441.html


Media reports on how far down their revenues are all over the place, ranging from 25% to 55%, seems there is very little transparency in this bubble?

ReadingTim

Crashy_Time wrote: »

Puts the "supply and demand" argument to bed doesn`t it? Of course this isn`t a normal market, it is a property bubble ready to pop.

Not at all. The property is relatively unique, so supply (quantity) is inelastic if not fixed. Price is therefore solely determined by demand.

Furthermore, what is a "normal market"? Markets (and therefore competition) can be perfect, imperfect, monopolies or a monopsonies, but a bubble...? It seems to be the only puncture-proof or self-healing and self-inflating bubble I've seen.

Unless of course you mean an abnormal market is simply one you don't agree with...

Crashy_Time

http://www.independent.co.uk/news/business/news/foxtons-estate-agents-profits-drop-54-per-cent-over-half-brexit-latest-a7617341.html


Certainly not a self-healing bubble as far as these guys are concerned?

Thrugelmir

BlaEm wrote: »

Last sold for £379,950 on 19th Jun 2015. Presumably some renovations, so perhaps they just overestimated the value add in the first place and are now vying for a more realistic profit.

Renovations/refurbishment may have cost far more than expected. Now simply trying to extract themselves from the mire.

getmore4less

Can you clarify the address

Looks like from the Drawings on planning applications. it is

Flat 2 37 Fortess Road
last sold £425,000 19 Mar 13


someone has been trying(last refused 2013) to get planning(2013/1070/P) to infill the parking space

That would have removed 1 and 1/2 the other skylight in the reception/kitchen room.

(some picture of the flat before/during the planning app)

There are 2 flats in the basement area and the entrance to the other(flat 1) is off the shared patio area.
You can see the door just behind the hose tap in picture 8.


try this link for the planning
http://camdocs.camden.gov.uk/HPRMWebDrawer/PlanRec?q=recContainer:2013/1070/P

theGrinch

what workings and research have you done on the location, property and price?