Is the price on this property about right?

fsttb

Hi all, my first post in this forum, looking to buy our first home and fairly noob when it comes to understanding house things. We came across this property we are interested in. I am unable to post the link here, apologies to ask you to look up! if you google 'properties for sale Mepham gardens, Harrow", you will come across this property listed by 4 agents for 570k( Hunters, Andrew, Foxtons, Connel)
Looks like someone has bought this last year for 315000 and flipped it to sell. Initially listed for 625000 in July this year and since then 50000 has been reduced. Is it normal for something that looks as good as this to be on market for this long without it being sold and close to 10% reduced? How much the renovation for a house like this would cost? I think new shed, new kitchen, new floorings, windows/doors(It felt plasticky), No washing machine/Fridge. How much is this house could be worth? Any help would be much appreciated! thanks 

tigerlily74

What does zoopla say?

fsttb

tigerlily74 said:

What does zoopla say?

Are you asking about this? 

Sale activity

Average estimated value for a house in HA3:

• £532,721

In the last 12 months

• Average sale price

  £521,415

• Properties sold

  77

MFWannabe

If you look on Rightmove you can see what properties have  sold for in that area answer what others are up for sale for 
Personal opinion here but that I said a really ugly house, a soulless box.  Maybe the reason it hasn’t sold but also imo it’s  still very overpriced 

MFWannabe

MFWannabe said:

If you look on Rightmove you can see what properties have  sold for in that area answer what others are up for sale for 
Personal opinion here but that I said a really ugly house, a soulless box.  Maybe the reason it hasn’t sold but also imo it’s  still very overpriced 

And there’s no way the renovations will have cost £250,000

AdrianC

fsttb said:

Hi all, my first post in this forum, looking to buy our first home and fairly noob when it comes to understanding house things. We came across this property we are interested in. I am unable to post the link here, apologies to ask you to look up! if you google 'properties for sale Mepham gardens, Harrow", you will come across this property listed by 4 agents for 570k( Hunters, Andrew, Foxtons, Connel)

Five...
Andrews - https://www.rightmove.co.uk/properties/71855202#/
Foxtons - https://www.rightmove.co.uk/properties/96339923#/
Connells - https://www.rightmove.co.uk/properties/96905378#/
Hunters - https://www.rightmove.co.uk/properties/96669545#/
Chancellors also have it, a whole quid cheaper - https://www.rightmove.co.uk/properties/94653860#/

Chancellors and Andrews started with it in July for £625k.
August it came down to £600k and Foxtons and Hunters came in, with Connells in early September.
Down to £570k in October.

I think it's safe to say the vendor would quite like to sell...

Looks like someone has bought this last year for 315000 and flipped it to sell. Initially listed for 625000 in July this year and since then 50000 has been reduced. Is it normal for something that looks as good as this to be on market for this long without it being sold and close to 10% reduced? How much the renovation for a house like this would cost? I think new shed, new kitchen, new floorings, windows/doors(It felt plasticky), No washing machine/Fridge. How much is this house could be worth? Any help would be much appreciated! thanks 

What they paid for it last year, and what they've spent on it? Not your problem.
How does it compare to other places on the market NOW for that money...?

First reaction looking down Streetview is number 3... (It's 17 for sale)
https://goo.gl/maps/iyN39hndhoW2V5f77

That screams two things...
First - it's a concrete prefab of some kind, probably "defective".
Second, that means almost certainly council. Which might explain so little sales history in the road - are most still council.

While we're here, look at the parking...

So, let's wander up the road to number 17... Streetview says late 2018...
THIS is what the house for sale looked like just two years ago...

So, yes, it's safe to say that's been a major refurb... But that doesn't do a sausage about the surroundings. And you notice how all the EA pics downplayed those flats next door?

Crashy_Time

55k price drop so far says they want to get rid quite quickly, it is still way overpriced though...run away...fast.

NatNat77

That looks like a British Steel Federation house and the roof is probably asbestos - we have a few of these in our local area 

fsttb

MFWannabe said:

If you look on Rightmove you can see what properties have  sold for in that area answer what others are up for sale for 
Personal opinion here but that I said a really ugly house, a soulless box.  Maybe the reason it hasn’t sold but also imo it’s  still very overpriced 

My partner said exactly the same thing, didn't feel like a house! 

fsttb

AdrianC said:

fsttb said:

Hi all, my first post in this forum, looking to buy our first home and fairly noob when it comes to understanding house things. We came across this property we are interested in. I am unable to post the link here, apologies to ask you to look up! if you google 'properties for sale Mepham gardens, Harrow", you will come across this property listed by 4 agents for 570k( Hunters, Andrew, Foxtons, Connel)

Thank you so much for such detail writing, it confirmed my thoughts! I looked at the street view image before and didn't feel great about it. Are houses like this that look with something like cladding or plastic are prefabricated?  I am unable to post a link to a sample house that I was looking at. 

fsttb

Thanks to you all for your valuable comments, we will not proceed with this further!