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Surely they've mispriced this house?? Any Estate Agents or Property Experts able to comment?

(481 Posts)
wtfiswiththishouse3 Wed 15-Jul-20 15:36:18

I've namechanged for this - this house is on my road and I don't want this post linked to my others.

www.zoopla.co.uk/for-sale/details/55501879?search_identifier=160c182890cd195c887072dc94ba80e4

I am just flabbergasted. How do the prices get set?

I was actually looking on Zoopla because I am thinking about extending or moving and I wanted to see what asking prices are doing.

This seems to be at least £250k more than anything similar locally.

It is a nice road with a good primary school, good transport links and green space nearby but it's not an especilaly nice bit of London and no similar properties have sold for even nearly this price.

Does the Estate Agent decide the price? Or can the vendor say 'put it on for £1m - I don't care what you say'?

The decor is not at all to my taste but it's obviously been finished well - however it's so 'characterful it's unlikely to appeal to lots of people.

Or maybe IABU and this is actually what my house is also worth. Woohoo!

OP’s posts: |
Fandanglethat Wed 15-Jul-20 15:39:51

I'm surprised it isn't more. 4 bed, nicely done up, ok sized garden and half an hour to London.

I live in a large northern city and it would be £650k or so where I am.

SDTGisAnEvilWolefGenius Wed 15-Jul-20 15:41:35

The estate agents will recommend a price, but the vendors don’t have to accept the advice - they can insist on a higher price if they want to. And some agents will inflate their recommended price, to get the vendor to sign with their agency, and if the house doesn’t sell at that price, they advise dropping it, and still get paid (a percentage of the sale price - so a bit less than their fee if it sold at the higher price) - whereas if they had recommended the more realistic price in the first place, they might have lost the business to another agency and would get nothing.

Daisychains20 Wed 15-Jul-20 15:41:43

Totally unsure about the prices in your area but we live down the road for a very ‘posh’ area - zone 6 where houses start at 1 million and they are ALOT better then that! Much bigger and all detached and that’s the ones that start at 1 million!

Also the walls are horrible especially the bathroom! It would need a big overhaul for me personally, any way - I’m sure someone out there
Might like it grin

AriettyHomily Wed 15-Jul-20 15:42:08

I don't know the area I'm in z4 Jn the SE and that's about what they go for here

wtfiswiththishouse3 Wed 15-Jul-20 15:42:41

Really? But if you look at local sold prices... Standard 3bed round here is more like £450k - 4 bed more like £525k to £550k

This isn't one of those 'desirable' bits of London, I promise.

OP’s posts: |
Louise0701 Wed 15-Jul-20 15:44:54

I personally don’t like the decor at all but it will appeal to some!
Get yours valued ASAP, OP!

wtfiswiththishouse3 Wed 15-Jul-20 15:45:04

Daisychains20

Totally unsure about the prices in your area but we live down the road for a very ‘posh’ area - zone 6 where houses start at 1 million and they are ALOT better then that! Much bigger and all detached and that’s the ones that start at 1 million!

Also the walls are horrible especially the bathroom! It would need a big overhaul for me personally, any way - I’m sure someone out there
Might like it grin

It would feel so terrible to spend so much to have to redecorate everything but there isn't a single room that I could just leave.

Tbh, I am desperate to move away from this area and I thought it was a pipe dream to be able to afford to buy in a nicer area but maybe it IS possible then.

OP’s posts: |
Solaran Wed 15-Jul-20 15:45:27

Well, it looks overpriced to me but that’s just from having a quick look through Zoopla’s nearby sold prices.

wtfiswiththishouse3 Wed 15-Jul-20 15:45:51

Louise0701

I personally don’t like the decor at all but it will appeal to some!
Get yours valued ASAP, OP!

I think I will!!

Mine is bigger than that one (but only 3 beds) but far less... customised?

OP’s posts: |
GracieLane Wed 15-Jul-20 15:46:12

I think it's on a bit high but definitely should her £800k plus. I'd say it's about 200k per bedroom now anywhere that is commutable to London in less than an hour

wtfiswiththishouse3 Wed 15-Jul-20 15:47:03

Solaran

Well, it looks overpriced to me but that’s just from having a quick look through Zoopla’s nearby sold prices.

Me too. I would think £650k max - it's just such a big leap I can't help think I'm missing something.

If I call the estate agent will they tell me their thinking?

(I know they won't)

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Fandanglethat Wed 15-Jul-20 15:47:57

Now having looked at the others available, the price does seem odd, though it is more 'updated' decor-wise (to use estate agent speak) and they've made efforts to do up front.

As I said, I'm from 'up north' and it doesn't seem an outrageous price to me but I really don't know the area. Why are you desperate to move?

KeepingPlain Wed 15-Jul-20 15:48:50

Stealth brag. grin

It's possibly someone who doesn't want to sell to be honest. Maybe the family have split up, one is pushing for a sale, the other one wants to stay and put it up for more than its worth to put off buyers. Wouldn't be the first time.

Daisychains20 Wed 15-Jul-20 15:49:13

Is your home similar?

I would get your house valued if it is a lot under their price tag I would question it with estate agents breezily as why such a difference. wink

ShesMadeATwatOfMePam Wed 15-Jul-20 15:51:58

Get the same agent round to value yours. That house is beautiful but the decor is hideous.

TennisButterfly Wed 15-Jul-20 15:52:36

A House like that near me in the Midlands would be up for about 895,000.
My crappy little terrace is apparently now worth 250,000 ish.
House prices are extortionate. A 4 bed detached around here will set you back at least a million and we aren't commuter belt by a long way.

Solaran Wed 15-Jul-20 15:52:54

Yes, OP I would agree that they’ve done it up a bit more (even if it’s not to everyone’s taste!) but I don’t think it would add that much to the price to nearby sold prices!

wtfiswiththishouse3 Wed 15-Jul-20 15:54:12

KeepingPlain

Stealth brag. grin

It's possibly someone who doesn't want to sell to be honest. Maybe the family have split up, one is pushing for a sale, the other one wants to stay and put it up for more than its worth to put off buyers. Wouldn't be the first time.

Really not a stealth brag - I refuse to believe my house is worth anything like this! Honestly, if you look at the area it's not 'naice'.

That's an interesting point though... I hadn't thought of that.

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CuppaZa Wed 15-Jul-20 15:55:23

I know the area well @wtfiswiththishouse3, and I do think it is over priced

wtfiswiththishouse3 Wed 15-Jul-20 15:56:04

Daisychains20

Is your home similar?

I would get your house valued if it is a lot under their price tag I would question it with estate agents breezily as why such a difference. wink

No, mine is a completely different period and different layout. My house is a bit of an acquired taste but I think properly done up as is (3 bed) the upper limit would be £550k - £585k and it needs a good £30k of work to get it to tip top.

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2bazookas Wed 15-Jul-20 15:56:24

Out of line with sold- prices in the same road. Someone's going to be disappointed

www.rightmove.co.uk/house-prices/sm4/lower-morden-lane.html

Decorhate Wed 15-Jul-20 15:57:08

It seems odd because they are making a big deal about it being recently refurbished. If it was done by a developer or someone “flipping” it, you would expect much more neutral decor. It seems to be tailored to someone’s personal taste. So odd to be selling unless they have had a major change in personal circumstances.

wtfiswiththishouse3 Wed 15-Jul-20 15:57:11

CuppaZa

I know the area well *@wtfiswiththishouse3*, and I do think it is over priced

Hey neighbour... grin

OP’s posts: |
Zhampagne Wed 15-Jul-20 15:58:47

I would imagine that somebody has been forced to list it but doesn't actually want to sell, e.g. following a divorce.

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