Properties that are overpriced.

[springishereeeee]

why do they not lower the price? Surely Estate Agents are giving them the appropriate feedback.
Over 2 years on the market.
https://www.rightmove.co.uk/properties/86242311

How is it a 2 bed house?

Its a 3 bed house, 3 bedrooms upstairs, 3 receptions downstairs

Although why and how they've called it a 5 bed is beyond me even by pretending one of the reception rooms is a bedroom

Perhaps we should do a running review of this house, its interesting to see what will happen.

Such a shame its on that busy road. I thought it was down some leafy lane or something

Definitely up for a running commentary - I feel highly invested! I wouldn't mind the location as I quite like being in town. I have 3 kids and would need four bedrooms - this definitely isn't a five bed! But that 'living room' upstairs could be made into two kids rooms. I would just love to know who valued it and why they felt it had gone up so much...

I wonder if the particulars are incorrect, I notice it says 5 bed, 1 reception, perhaps its just a marketing error

Its a 3 bed, 4 at a push if they're going to insist on the downstairs room being a bedroom but has 3 receptions or 2.

Even the floorplan only shows 3 bedrooms, but the zoopla filters come up as a five bed. A pet peeve of mine!

Maybe the sellers are just having a go - they are chain free and its a seaside location, potential holiday home/letting opportunity, and foreign holidays are currently looking at being very expensive this year with oil prices.

If you turned the dining rom or sitting room into a bedroom it would be a 5 bed house.

Come to that, you could turn both into bedrooms and it would be a 6 bed.

In either case you'd need to turn the upstairs utility room into a shower room at the very least.

Are the vendors hoping to sell it for use as a holiday let, as suggested above, or student accommodation?

There's a 5 bed student house under offer in Falmouth, asking price £389,000, but in much better nick. Though I wouldn't fancy the multi-shower room, personally.
https://www.rightmove.co.uk/properties/172752773#/?channel=RES_BUY

No where near as nice

I dont understand what a multi shower room is, because its got 2 showers?

I wouldnt have thought a boiler or tank would cope with that at the same time so seems rather pointles,s its not like having 2 sinks

I would change one of the showers into a bath or do some jiggling around.

Sorry, hideous colour on the outside.

I don't understand what a multi shower room is, because its got 2 showers?

Yes. It's a student house. It's so that 2 of the 5 can have showers at the same time.

Sorry. I would say it's a 3 bedroom house.

I loved the floorplan and garden, but EPC G and it totally looks like it! Ceiling is very low.
Chain free - looks more "probate" than "recently renovated". Probably was bought as holiday home or airbnb.

More probate though as too many music instruments. Or used as a studio.

My street too. Although I've noticed a theme. Only very well finished homes OR super cheap ones are selling. Those that have been renovated and are 'dressed' are snapped up virtually instantly, despite the price being high. Three have gone like this in the last couple of months. Super cheap (priced low due to needing to fund OAP care) also sell like a rocket.

What isn't selling is OKish houses at regular market value. Residential buyers seem to not want to do any work now. Fixer uppers are only for the professionals it seems.

Yes, I guess people would buy there if they could work from home most of the month, can"t do that now though, and with the recession talk getting louder people are going to be in London a lot more where their boss can see them bent over a screen working hard? The initial price seems quite cheap for the house presented in the photos, but as you say it isn"t really a 5 bed house, they are probably looking at a loss on the 2017 price unless there has been some transport upgrade or jobs boom in the area?

@Slightyamusedandsilly I agree with you - a house in our town had been extended/renovated and then ‘dressed’ to perfection. It was gorgeous! It sold for £550,000 about two months ago, fell through, re-marketed for £585,000 😳 and sold INSTANTLY.

I need to get my own home ‘Rightmove ready’ and get rid of artexed ceilings, change dark coloured walls to a lighter, modern colour and get it looking spot on because, as you say, these types of houses do seem to be getting snapped up really quickly.

Maybe people like to just move in and not have to do anything, apart from paint the odd wall to their own taste,

And mortgages, that limits their buyer pool quite a bit.

https://www.msn.com/en-us/money/markets/mortgage-deals-trickling-back-on-to-market-but-at-higher-rates/ar-AA1ZwSX8

Alright, Crashy - that wooden staff of yours must be wearing thin at the bottom by now

I’ve read market speculation articles that say the UK housing market is going through a gradual price correction, as others have said the Covid bubble has long passed.

Some people are stubborn and think they know better? I know of a house that is overpriced in a desirable street near me - the owners are basing their expectations on past sales and do t realise how competitive it is now, as others nearby are better presented and priced favourably

Well it’s a nice family house so doesn’t seem too bad a price. I’m in a much smaller 3bed semi elsewhere in the country so nice to have the bigger garden.

I hope they sell it after this post. Was nice to see for me as in a different life decades ago I lived near there. It’s a nice location and town imho.

I’d be fine with it like that. It’s when it’s all just been painted to cover stuff up that you need to worry!

There’s a house in our town with a whole garden of old toilets and sinks filled with pretty plants 😁 I look out for it