Want to know what the Property Market is like?
 

I have just spent 3 days looking at property on the South Coast, from 9am until 6pm I have followed estate Agent upon Estate Agent around the coast looking for a Holiday Pad.

Looked at about 60!! :eek: From brand new to the derelict, from apartments overlooking the sea to cottages in a leafy New Forest lane.

What did I discover?

Well, to be a buyer with nothing to sell promotes you to royalty ... we witnessed a couple with a property to sell get a very cold shoulder from a developer of luxury apartments - we, on the other hand, were told to "put a silly offer in!" ........ we asked about parking, "We will mark you out a space for your sole use" .... asked about the 'communal gardens' - "we will make them over to you and you can access them privately from your bedrooms" .... asked about how silly an offer, "very silly indeed" came the reply!

People with property for sale are much less willing to drop their prices heavily - it's the Builders who are absolutely beside themselves trying to sell.

So, if you want some bargains - new property is currently where its at - one developer took out his Price List and tore it up in front of me .... said it didn't matter anymore what they wanted "what do I want to pay?" .....

I have no idea how bad it's going to get .... but it's pretty dire out there.

Personally, I think that the market has a way to drop - someone said don't buy until January 2009.

If you need to sell to buy it's not great, but if you have cash looking for a home ..... now is a great time (but next Spring could be better!).

Thanks Pete :thumb:

Pete? :confused:

Wayne

:lol1:

Its no fun when its SO easy Pedro.

60 properties in 3 days?

Sounds fun, Pete.

I discovered that you looked at a new property every 27 mins, without lunch, and that time includes travel time between properties! Thats some going..... :wonder:

Some stops took in 3 or 4 Apartments of varying sizes.

Some stops took in 3 houses on new-builds.

Some properties got 5 minutes, a few got 20 minutes.

I actually didn't eat anything whilst hunting - too excited!

I offer the experience of someone who has lived house hunting for many hours solid - thought you would like to hear my findings. If you object, please move along to the next thread - it really is painfully simple you know?

Bit of a harsh infraction.........

The average price of a property here went UP by 6.2% in Q2 2008, and UP over 19% over the last year. IIRC the "average" cost of a home is £325,000 now.

Average is £164k here

But there's no fast food outlets there and you all have 'relations' with each other.......

Sounds good, actually :D

Thanks, I'm struggling to see what's wrong with it?

Trolling - but I don't see how, anyway .....

OI, you following me around SN? Weirdo stalker type:D

You can't help that over here, as we are all related to each other anyway, or at least us locals are, I'm my cousins, brother in law's, uncles, wife's, sisters, nephews, god fathers, best friends brother. Heck, that might actually be true:wonder: I'm off to that englishrussia site https://www.scoobynet.com/non-scooby...ml#post8094612to find some new genetic material, stop all the local kids having tails.

Stupid infraction IMHO

there are some houses being built opposite my mums and they have stopped building them dead in their tracks, and took away the sales cabin.

girl at work got on offer on her house for 200k, it was up at 265k, she is thinking of accepting it as well

No need for the infraction. :(

Damn stupid infraction. Find out who gives 'em out like smarties, and ban them for a month.
Bit optimistic, though, thinking the property market will be on the upturn next spring! Most sellers don't even realise yet thatprices have fallen...

If Pete complains he'll only get banned again. :(



P.S. WTF happened to the infraction thread from a few days back? :wonder:

Feeding the trolls?

come on pedro we know its your usual trick :D:D

What infraction thread? No-one would post a thread about infractions, surely. :nono:

No he just needs taking outside and giving a good spanking...

:lol1: I did hear tell that you were rather kinky, didn't realise it was MEN you liked spanking though!! :eek: :lol1:

Sounds like Pete wants to sell in Spring 09

No need to infract him, he did have a point about building firms being desperate to sell! ;)

Wayne, what's the property market gonna be like in, say, 3 years time? (You'll be held to this btw) :D

Was just thinking that :wonder:

3 years time?

I reckon that it will be on the up. There will be a new Government in place, there will be a feeling of optimism (like there was in 1997), the Olympics will be 12 months away, the credit crunch will be a distant echo ...... banks will be bending over backwards to lend again and it will be full steam ahead.

The prices on the South Coast are now at 2004 levels, with further to fall (you can check what houses sold for back to 2001, thats what I have been doing this evening - it's really interesting!).

I was staying at a Lodge and was chatting to the owner about house buying in the area .... his son had just this week agreed a sale on his house at £160,000 - it was on the market for £210,000! On the plus side, his son was buying a house with an asking price of £399,950 for £300,000. The prices being achieved are amazing compared to the asking. But, as we found, the words from the Agents are make silly offers! Quite staggering really?

I got quite mad with an Agent yesterday, she rang to say that she had just taken on a property - would I like to look at it? Yes, I said, what is the price? She told me, but then followed that with, "make an offer 30% off that" WTF? Why not just put it on at the lower price!!!!! :mad: Her answer was an eye opener, "it will cause panic in the area if the asking prices dropped by 30% - much better for most if the deals are done behind closed doors and the real picture hidden from full view"!!!

The neighbour of the Lodge is a very rich woman with many properties, she needs to spend some money and wants to buy more - her financial advisor has told her to hold-fire until Xmas and look then. She is extremely wealthy and obviously has the best advice .... so there we have it.

Fair point. The new government will make that difference eh? ;) (Albeit they'll have to suffer the fallout from the current lot).

I'm glad to hear that estate agents realise the market is massively over valued though. It gives the youngster's half a chance. :cool:

Same sh*t, week in week out. Get a life Pete. :sleep:

...and open the negotiations. nobody sells for first offer, especially if they can "work" on the buyer to increase their offer

standard stuff.

...communal gardens already noted in other people's leases as communal gardens will remain communal gardens in perpetuity. fact. if there is part of a communal garden outside the back door of a flat, then it makes sense to include that area in the lease for that particular flat, or to assume that the occupier of that flat will look after a certain area as their own as others are unlikley to use it...."defensible space" [/quote]

..fat bloke down the pub said jan 2009. must be true then

so in summary, flats are cheap. now's a good time to buy, but don't bother until jan 2009 :wonder:

I thought lewis had been banned for posting exactly this kind of garbage. We all know he doesn't have two pennies to rub together - except in the make believe world he inhabits.

:sleep: