House prices (in East Dulwich)

[Loz]

Otta Wrote:

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> poppet27 Wrote:

> --------------------------------------------------

> -----

>

> > - Ludlow Thompson: Cheeky chappy Essex lads who

> > seem to think selling houses is like market

> > trading. Had no faith in their experience and

> > didn't appreciate salesman techniques.

>

>

>

> They haven't changed much then. In 2003 I went in

> there with two friends to sign a contract for a

> rental. Bloke's phone went so he held up a finger

> to shhh me, then said "go" in to the phone.

>

> I wanted to slap him ion the face right there.

In 1999 I walked in to Ludlow Thompson to see what they had on offer. Got completely ignored for five minutes. Walked out.

[*Bob*]

Did you consider popping over the road to Another Estate Agent?

[Mick Mac]

Jeremy Wrote:

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> I think that's a pretty good summary of the

> agents, but at the end of the day, I don't think

> it makes an awful lots of difference if it's on at

> the right price. People will still see it online

> and book a viewing, regardless of who it's on

> with.

one advantage of an estate agent is that they have people waiting for properties and can do a pre marketing call to brief the buyer - sometimes you can get a buyer who is very keen and can be encouraged into thinking its the right price. Left to their own mind (online) they might not have thought so.

[Mustard]

The No Flies company have had quite a few people praising them on here. I guess if you do a search, you can find out more info.

[SteveUK1978]

Jeremy Wrote:

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> I think that's a pretty good summary of the

> agents, but at the end of the day, I don't think

> it makes an awful lots of difference if it's on at

> the right price. People will still see it online

> and book a viewing, regardless of who it's on

> with.

Completely agree - we just sold our place and had loads of interest, all through the advert on Rightmove. Price is fairly and they will come.

[edcam]

Yes but how they handle the sale/purchase is what makes all the difference.

SteveUK1978 Wrote:

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> Jeremy Wrote:

> --------------------------------------------------

> -----

> > I think that's a pretty good summary of the

> > agents, but at the end of the day, I don't

> think

> > it makes an awful lots of difference if it's on

> at

> > the right price. People will still see it

> online

> > and book a viewing, regardless of who it's on

> > with.

>

>

>

> Completely agree - we just sold our place and had

> loads of interest, all through the advert on

> Rightmove. Price is fairly and they will come.

[SteveUK1978]

Do you think so?

I think in this market if you have an attractive enough "asset" it largely sells itself. It is a sellers market so it is hard for a buyer to try too much nonsense and really the agent was largely just dealing with the admin of the process with us. They take instructions from their client for all the big decisions - if you are greedy I am not sure that is the agents fault.

[*Bob*]

SteveUK1978 Wrote:

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> I think in this market if you have an attractive

> enough "asset" it largely sells itself.

I agree - but people are stubborn and blind when it comes to evaluating their own houses though. They see a house down the round that sold and assume theirs must be worth the same. They jam an inexpensive extension on and expect buyers with a million quid to take a quick look and just say 'great - you've made it bigger - here's top dollar'.

[Earl Aelfheah]

I'm not sure it's a sellers market in ED at the moment. It does depend to some degree on what end of the market you're looking, but certainly for houses there is no shortage of properties.

4 bed houses were asking for around 1 million last year, now they're going up for more like 800K. That's quite a big drop.

[LD929]

rahrahrah Wrote:

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> I'm not sure it's a sellers market in ED at the

> moment. It does depend to some degree on what end

> of the market you're looking, but certainly for

> houses there is no shortage of properties.

> 4 bed houses were asking for around 1 million last

> year, now they're going up for more like 800K.

> That's quite a big drop.

Not sure that is true. Of the 42 4-beds on the market, 24 are asking above ?1m.

[edcam]

Are you sure about this? I was looking in the windows on the lane the other day and the prices seemed the same or higher than they were a few months ago.

rahrahrah Wrote:

-------------------------------------------------------

> I'm not sure it's a sellers market in ED at the

> moment. It does depend to some degree on what end

> of the market you're looking, but certainly for

> houses there is no shortage of properties.

> 4 bed houses were asking for around 1 million last

> year, now they're going up for more like 800K.

> That's quite a big drop.

[LondonMix]

I agree with LD929.

There were only 5 houses with 4+ bedrooms that sold in SE22 in May (last records available on rightmove). 3 of them sold for a million quid or more. The two that didn't were somewhat dated. I don't mean fall down wrecks but very old interiors. Even so, they all sold for more than 800k.

With that said, it has become more of a buyers market. Things are no where near as mad as they were a couple of years ago and houses seem to stay on the market considerably longer.

[Mustard]

There are/were 4 bed houses selling in the Bellenden area for ?1 million plus, and then having lots and lots of work done, two are in Oglander Road. Both houses were/are boarded up in the front, and one had huge piles of earth out front, looked like it might be a basement conversion.....

[Cyclemonkey]

Desmond I looked at your place. It's nice but frankly overpriced. Over half a million for a conversion flat with one of the rooms as an attic conversion will not appeal. You can get a house for that in Forest Hill and Honor Oak. Also if it is a freehold maisonette that will actively put buyers off as many mortgage lenders will not lend on them.

To the person despairing of finding a flat for under ?400,000 look wider than East Dulwich and forget Period conversions (they are often pretty crap anyway) Our budget was ?300,000 to ?350,000 and we saw loads of acceptable places.

[simonethebeaver]

I had a look too. Sorry but your photos are a bit rubbish. Your second photo is of a corner door and a curtain - why? You don't get any feel for the size of the rooms, or the use of them. Where's the kitchen? People want to see kitchens and bathrooms. Which is your main living room? You could do with some rugs, something to make it look less like empty student accommodation.

Good estate agents take great photos. When we sold our flat, I barely recognised it in the photos as it looked so damn good.

I echo the recommendation for No Flies. Have a chat to them. And if you haven't already had your place valued, that should give you a good idea of a market price.

[Cyclemonkey]

Having done a LOT of house hunting over the last year I would say the price should be more like ?425,000 to ?450,000. Also get the details on the nature of the lease. Will the buyer be buying the freehold of the whole building in the price or is it a shared freehold with the downstairs flat. These thing matter.

[fizzmoll]

For great pictures, I strongly recommend getting a 10 mil lens, super wide angle. This is what estate agents often use to take compelling pictures of interiors. You can get a canon lens for under 200 pounds: http://www.amazon.co.uk/Canon-EF-S-10-18mm-4-5-5-6-Lens/dp/B00KAQX66Y/ref=sr_1_2?ie=UTF8&qid=1438288354&sr=8-2&keywords=canon+10+-+22mm You probably also want to dial up the expose a few notches, making the pics look brighter. Just make it look more appealing.

If you want to sell it yourself, why not make more of an effort? You are asking someone to pay A LOT of money for something - take LOTS of pictures, go the extra mile, set up a small web site to advertise it. Why stop at 5-6 pictures when you can have 20? Push it on facebook! Record a walkthrough and put on youtube. Just because it's London doesn't mean it is going to sell itself automatically. However, I do think you can do a lot more yourself in terms of marketing this - maybe something to try if you are still hesitant about estate agents?

In this day and age, there are so many options, and so easy to produce high quality digital deliveries.

[SteveUK1978]

rahrahrah Wrote:

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> I'm not sure it's a sellers market in ED at the

> moment. It does depend to some degree on what end

> of the market you're looking, but certainly for

> houses there is no shortage of properties.

> 4 bed houses were asking for around 1 million last

> year, now they're going up for more like 800K.

> That's quite a big drop.

A 4 bed in central ED in something close to good condition at ?800k would be snapped up. If not, then that's perhaps the consequence of overpricing in the first place and the assumption there is something wrong with it.

[Earl Aelfheah]

Last year, there were a number of 4 bed properties topping a million (some substantially over). Out of 15 which show up on a land registry search, 6 sold for over a million and another 2, just under. The highest price was 1.2m. Most of those under 1m where sold early on in the year.

This year, out of the 6 showing up as sold through the land registry, none are over a million. They range from 630K up to 875K.

It seems to me, that (at least for 4 bed houses) actual sold prices have dropped by at least 20%.

[LondonMix]

That's just not true. See the links below:

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=51996689&sale=1411363&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=40878788&sale=1411399&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=48825059&sale=53544869&country=england

There are definitely 4-bed houses that sell for less than 1m but typically the are small (less than 1,500 sqm), in need of work, not in central ED locations or on busy roads.

There are lots and lots of 3 beds in ED that have sold this year for 800k or over so the idea that?s the value of a typical period 4 bed in good condition can?t be substantiated.

[Earl Aelfheah]

Hmmm - that's interesting. It's not what it says on 'mouseprice', but you seem to be right. I wonder why the different stats?

[LondonMix]

No idea, but Rightmove is accurate. They got my house price correct both times I've bought!

Here are the 3 beds this year that have sold for well of 800k this year (most cluster around 850k). For a nice 4 bed period house that is a decent size within central ED, you'll never get it for 630k-875k as mouse price indicates.

The market has slowed but it's not dropped that significantly.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=44636683&sale=53136911&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=31380780&sale=53136851&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=32829102&sale=1411453&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=48971522&sale=1411360&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=18121472&sale=1411438&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=33154236&sale=1631491&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=33332157&sale=1411450&country=england

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=48071428&sale=1631476&country=england

[sheff]

I think if the house is 4 bed and >1500sq ft then they easily top ?1m from scanning rightmove.

The 3 beds do cluster around the ?850k.

The key is sqft really because i've looked at 3&4 beds (before the agent has a floorplan) that are actually circa 1000sqft and they feel hugely top heavy. Developers certainly seem to cram bedrooms in at the expense of space and practicality.

Then you get the 4 beds that are 1500 - 2000+ sq ft and the feel/difference is huge.

[cn150]

That bloke at Haart said 725.

[Bob Buzzard]

I sold my 4-bed house for 530 - I just wanted to get out ... fast (and it worked)