Live property auction online now - Barnard Marcus

silvercar

Question is whether these properties are good value.

Central Birmingham new build flat drops from 250 to 150 and we laugh/ commiserate that it has fallen so much, but at 150 is that reasonable/ a bargain/ too high?

I would say that as a BTL its no good - too many empty properties around so too great a risk of not finding reliable tenants, but if you wanted a central Birmingham apartment to live in, is 150k now good value? possibly.

Pobby

Well if this isn`t evidence of property on the way down then I don`t know what is.The Tamworth house that went for £106k,another in the street went for £155k last September!

payless

Can''t seem to see sold details

do you have a street or block name for those in Birmingham ?

General_Mayhem

Lot 215: Nice flat by Albert Dock in Liverpool

Sold 149,950 in Mar 05

Just gone for 86k :eek:

payless

Oh do you mean Centenary Plaza

seem a few have gone for that price recently ...

http://www.houseprices.co.uk/e.php?q=Centenary+Plaza+b1

silvercar

payless wrote: »

Can''t seem to see sold details

do you have a street or block name for those in Birmingham ?

go here:

http://www.eigroup.co.uk/onlineauctions/login.asp?auctionid=10513

and click on "order of sale".

I also can't see sold prices; I guess you need to read back through this thread.

sirhan_sirhan

I have known some people Buy-To-Let portfolios, who always scoff at the likelihood of prices falling; they have always said to me that, as soon as prices do start to drop, they will be in like a shot to expand their empires at reduced rates.

Where are they all today?

morg_monster

next one is 13th march. might make for a fun day out!!!
(or not, would there be sellers there crying or anything like in bargain hunt?!!!! that is my sole experience of auctions.)

Generali

I've not been to a property auction before so I don't know what's normal.

What I do know is that in higher end antique and numismatic auctions (I've been to many, not as a buyer but with a mate who is) a lot of stuff that would sell in other auctions won't go (bids will be from chancers only) and other items will go for way over what any sane person would expect.

Oh and the 'guide prices' are a crock to get people in.

It's quite possible that the bids for the Nottingham flats were from chancers. After all, if you can buy for £65k and rent it out for £600pcm (I have no idea if you can) then you're on to a winner. On the other hand, it is perfectly possible that this is all anyone is prepared to pay for the flats. You can't tell from 2 pieces of data.

If it's the latter then there is no market for these flats as buyers won't pay what sellers want. Either sellers will have to accept less or buyers pay more. If it's the former then there's a buyer out there somewhere just not in the room.

subjecttocontract

Some of us are here and yes we are buying.......just not at this auction.