Topic ID 3219
Has anyone seen these houses? £3.75m on Folly Island......Can't be true. Is it? http://www.rightmove.co.uk/viewdetails-18299339.rsp?pa_n=1&tr_t=buy
Reply ID 46468
quote:Even if you remove one of the zeros I cannot believe a two bedroom house on Folly Island is worth £375,000.
Originally posted by Bubbaoshea
Has anyone seen these houses? £3.75m on Folly Island......Can't be true. Is it? http://www.rightmove.co.uk/viewdetails-18299339.rsp?pa_n=1&tr_t=buy
Reply ID 46469
I couldn't believe my eyes when I saw the price - they aren't exactly big either.
Reply ID 46474
Gotta love the intro - "situated in this conservation area is this brand new development". Err....
Reply ID 46475
Total madness. I'm not even sure whereabouts on Folly Island they are.
Reply ID 46476
They're the new houses that Parkview (aka Steven Oates) built on the old car park.
Reply ID 46477
They must have the prices wrong. Who would pay £3.75m to live in a 2 bed cottage....
Reply ID 46478
The correct price should be £375,000 according to the agent. And I like this:"...this brand new development of 4 houses bordering a tributary of the River Lea". It's not a tributary, it IS the River Lee!
Reply ID 46480
£375,000 is still pretty steep if you ask me. Those houses would break the celling price of the folly thats for sure.
Reply ID 46486
Wouldn't you pay that kind of money for electronic gates and a birds eye view of well .... birds - from the mysterious windows that have appeared on the river facing elevation that many of us don't remember seeing in the plans. And just a hop skip and a jump - if you are Jonathan Edwards - from the new Sainsbury's.
Reply ID 46487
Hmmm. My 3 bed in Bengeo is starting to look like even more of a bargain and it's less likely to be unexpectedly underwater. New builds are often at a premium in the hope that "everything done" will appeal enough to sell them. Unfortunately, you dont get the extra money, paid for them new, back on resale.
Reply ID 46490
quote:Or the fairground.
Originally posted by sloopjohnb
Wouldn't you pay that kind of money for electronic gates and a birds eye view of well .... birds - from the mysterious windows that have appeared on the river facing elevation that many of us don't remember seeing in the plans. And just a hop skip and a jump - if you are Jonathan Edwards - from the new Sainsbury's.
Reply ID 46492
Rich Gnomes at the bottom of the Garden [;)]
Reply ID 46499
quote:Plus te lovely Mr Oates has now applied for an additional house on the end of the 4 already there - even though 5 were originally turned down by planning. He really is a ****er (insert what you want for the stars!)
Originally posted by sloopjohnb
Wouldn't you pay that kind of money for electronic gates and a birds eye view of well .... birds - from the mysterious windows that have appeared on the river facing elevation that many of us don't remember seeing in the plans. And just a hop skip and a jump - if you are Jonathan Edwards - from the new Sainsbury's.
Reply ID 46500
If you are not happy about what is happening on this site with regards to the application for an additional house then contact the planning department and find out what you can do about it.
Reply ID 46508
quote:The Folly Island Asscociation has had many years experience of opposing planning applications - some you win, some you lose. No doubt there will be a formal opposition to the application this time as there has been on all stages of this development since Hanover Investment Trust tried in 2004. I have submitted a letter of opposition based on safety issues and I know of at least two others who will be opposing on planning and environmental issues. We are fighters on the Island - I would not be surprised if there are many more other letters winging their way to East Herts Planning.
If you are not happy about what is happening on this site with regards to the application for an additional house then contact the planning department and find out what you can do about it.
Reply ID 46565
If its Steven Oates or Shepherds, I can imagine them asking 3.75m. I've sure they would want an "open day" too. Cowboys.
Reply ID 47049
this shows an indication of the current housing market this thread started only 3 weeks ago and the new price is now down by 10k today.......
Reply ID 47615
and the price is now down to 350k on the steven oats website thats 25k since november wow!!! does this tell us something about the market or development or both????
Reply ID 47617
dont forget time of year - trying to sell from november to feb is insane if you want to achieve a fair market price. No one looks to buy in that time. But sadly it if you read other news articles it looks like it could well be an indicator of the current market as well.
Reply ID 47618
quote:Developement and the inflated premium on new property, probably. House prices actually rose in December against all predictions. Not good if you are trying to trade up.
Originally posted by teddylad
and the pric is now down to 350k on the steven oats website thats 25k since november wow!!! does this tell us something about the market or development or both????
Reply ID 47653
quote:Bet the mugs who have already bought one are chuffed...
Originally posted by teddylad
and the pric is now down to 350k on the steven oats website thats 25k since november wow!!! does this tell us something about the market or development or both????
Reply ID 47654
quote:£350,000 for a 2-bedroom terraced house is fair?
Originally posted by codek2
dont forget time of year - trying to sell from november to feb is insane if you want to achieve a fair market price.
Reply ID 47662
Thats not what i said at all, the market defines whats a fair price. not someones out of date notion of what a house should cost. However it's clearly not in the wrong ball park., and on a property like this 10 or 20 k has to be taken in context and seen as the small amount it is in proportion to the total.
Reply ID 47664
quote:Hopefully most people will have worked out that if you buy a new house it is because you particularly want that and are prepared to lose the premium paid over the equivalent used property. It's not uncommon for the first pricing on a development to be "you never know, somebody might go for it" and the later sales to be more realistic. If I wanted a 2 bed house in a high density area, surrounded by water, I'd be still be looking for one of the earlier Folly properties, rather than these, but each to their own.
Originally posted by aubendquote:Bet the mugs who have already bought one are chuffed...
Originally posted by teddylad
and the pric is now down to 350k on the steven oats website thats 25k since november wow!!! does this tell us something about the market or development or both????
Reply ID 47671
think these are 3 bed homes not 2.
Reply ID 47673
From the details, it seems the attic room does not have consent for use as a bedroom being of reduced height. The hope of the developer is that people will think they can later re-sell as a three bed, though in reality, these properties were built too late for building regs to ever allow that room to be described legally as a bedroom.
Reply ID 47735
good point shunt, so are you saying that the agents are falsely advertising these properties?
Reply ID 47747
quote:No. Only two of the rooms are decribed as bedrooms. Hope and naivety imagines the third and the wording and pricing does nothing to discourage that. Being of reduced height, that third room cannot be described as a bedroom any more than my basement can be.
Originally posted by teddylad
good point shunt, so are you saying that the agents are falsely advertising these properties?
Reply ID 48109
and the price is down again!!!! 345k you might get a deal if you approach the developer directly.
Reply ID 48112
Offer £300k and you'd be in with a chance of getting a new build. Seems nobody wants them currently.
Reply ID 52558
now the price is down to £325k does nobody want to live there? negative equity worries spring to mind for those who brought first......
Reply ID 52560
quote:Paying an “inflated” price in retrospect and going into negative equity can often be two different things. The original purchasers could be cash purchasers or have a fairly low LTV and consequently couldn't really give a fig about house prices.. It's only those who have their books so tight that they squeak that will be overly bothered about the market adjustment.
Originally posted by teddylad
now the price is down to £325k does nobody want to live there? negative equity worries spring to mind for those who brought first......
Reply ID 52565
quote:Bargain* *When I say bargain, I mean Rip Off.
Originally posted by teddylad
now the price is down to £325k