This is an odd one. From the front page of http://www.poolerestateagents.com/
In a quieter marketplace there are occasions where our vendor clients may be in a position to offer a property at a price that is significantly less than advertised and substantially less than similar properties in the locality. Are you a first time buyer struggling to afford your first home or a speculator looking for your next opportunity?
Sign up here for 'exceptional value for money' updates
Now I wonder what's going on here. Do they not want to admit that some houses are selling for far less than they are advertised for on the site? It will be interesting to find out - I have signed up and will let you all know if anything interesting comes up.
Full Version: Pooler Ea's "exceptionally Good Value" Mailing List
I got the first email from them. I have posted the contents below. The reductions are so huge, I was considering starting a new thread to put them in!
What does it take to get on the Pooler 'exceptionally good value' list? Random price reductions are not enough, they have to be even better value and in my opinion the following two properties fit the criteria very well.
24 Clara Avenue, Bloomfield. An immaculate two bedroom terrace house, probably as well finished as you are likely to see. We had advertised this property before Christmas at £175,000, at the peak last year it would have been £195,000. Today and for a simple reason - the owner wants to sell it - it is on at £150,000.
12 Dunvegan Street, Ravenhill For the same reason as above, this property has been reduced by a whopping £48,500 from when it first came on the market. At £129,000 this should be an excellent starter home for someone.
That's a 25% reduction, and a reduction of just over 25%. Nice start. Who know's what price they will be this time next year...
What does it take to get on the Pooler 'exceptionally good value' list? Random price reductions are not enough, they have to be even better value and in my opinion the following two properties fit the criteria very well.
24 Clara Avenue, Bloomfield. An immaculate two bedroom terrace house, probably as well finished as you are likely to see. We had advertised this property before Christmas at £175,000, at the peak last year it would have been £195,000. Today and for a simple reason - the owner wants to sell it - it is on at £150,000.
12 Dunvegan Street, Ravenhill For the same reason as above, this property has been reduced by a whopping £48,500 from when it first came on the market. At £129,000 this should be an excellent starter home for someone.
That's a 25% reduction, and a reduction of just over 25%. Nice start. Who know's what price they will be this time next year...
QUOTE (JoeDavola @ Jan 24 2008, 10:23 PM) 
That's a 25% reduction, and a reduction of just over 25%. Nice start. Who know's what price they will be this time next year...
... I have a good idea what price they will be next year
This is a curious one indeed!
The agent is forever prophesising on the market yes, but more particularly he is always prophesising on the EA business itself. I wonder why when he misjudged the market so badly that he (who was not alone amongst agents) decided to expand and become really flashy, just in time for market falling off the merry go round and into a coma. He either didn’t see that coming or has money to burn! No wonder he’s now trying to flog houses at any price he can get. All EA's are in the same state, but he stands out because he’s one of the most vocal ones, splashing about in the water looking rescued. He got it all wrong and now he’s panicking, hence all the drivel on his website that you have been good enough to point out to us. No doubt we’ll see more as time goes on, so expect more of the same.
The agent is forever prophesising on the market yes, but more particularly he is always prophesising on the EA business itself. I wonder why when he misjudged the market so badly that he (who was not alone amongst agents) decided to expand and become really flashy, just in time for market falling off the merry go round and into a coma. He either didn’t see that coming or has money to burn! No wonder he’s now trying to flog houses at any price he can get. All EA's are in the same state, but he stands out because he’s one of the most vocal ones, splashing about in the water looking rescued. He got it all wrong and now he’s panicking, hence all the drivel on his website that you have been good enough to point out to us. No doubt we’ll see more as time goes on, so expect more of the same.
I too am surprised by the way this EA has reacted.
I'm surprised this topic didn't get more replies - I thought price reductions of 25%+ were quite impressive.
If I get any more emails from Pooler, I will post the contents here.
I'm surprised this topic didn't get more replies - I thought price reductions of 25%+ were quite impressive.
If I get any more emails from Pooler, I will post the contents here.
QUOTE (JoeDavola @ Jan 26 2008, 01:23 PM)
I'm surprised this topic didn't get more replies - I thought price reductions of 25%+ were quite impressive.
I suspect what's happened is we've taken the addresses above, plugged them in here;
http://vlistdcv.lpsni.gov.uk/search.asp?submit=form
and compared the reduced prices to the rateable value. Still have a way to go to reach that.
QUOTE (JoeDavola @ Jan 26 2008, 11:23 AM)
I too am surprised by the way this EA has reacted.
I'm surprised this topic didn't get more replies - I thought price reductions of 25%+ were quite impressive.
If I get any more emails from Pooler, I will post the contents here.
I'm surprised this topic didn't get more replies - I thought price reductions of 25%+ were quite impressive.
If I get any more emails from Pooler, I will post the contents here.
I think though its a big reduction on an already over-inflated asking price. I do think they'll come down more, and 25% drops are certainly a step in the right direction.
QUOTE (pod @ Jan 26 2008, 01:22 PM)
I suspect what's happened is we've taken the addresses above, plugged them in here;
http://vlistdcv.lpsni.gov.uk/search.asp?submit=form
and compared the reduced prices to the rateable value. Still have a way to go to reach that.
http://vlistdcv.lpsni.gov.uk/search.asp?submit=form
and compared the reduced prices to the rateable value. Still have a way to go to reach that.
Oh I agree totally. Still horrendously overpriced.
I've always held the view that drops of at least 50% from the insane highs, are needed. And even then, houses are not cheap.
The latest email from Pooler:
QUOTE
179 Greenville Road, Bloomfield is a three bedroom terrace house in need of refurbishment but priced at a very realistic £110,000. Refurbishment might be too strong a word but it is better to be pleasantly surprised when you view the property.
87 Cedar Grove, Old Holywood Road is a semi detached bungalow in a cul de sac with large corner site. It is only two bedroom and not particularly big but the potential is immense. If you have been looking at terrace property at £175,000, would you be surprised to find that you could afford a semi bungalow in a quiet area?
87 Cedar Grove, Old Holywood Road is a semi detached bungalow in a cul de sac with large corner site. It is only two bedroom and not particularly big but the potential is immense. If you have been looking at terrace property at £175,000, would you be surprised to find that you could afford a semi bungalow in a quiet area?
I love the way both the descriptions basically say: "this house is a bit shit, but it's not as expensive as shit was last summer"
The £110K house has a rateable value of £75K
The £175K house has a rateable value of £87.5K DOUBLE the rateable value even at this 'bargain' price...
Still some way to go folks.
QUOTE (JoeDavola @ Feb 13 2008, 03:00 AM)
The latest email from Pooler:
I love the way both the descriptions basically say: "this house is a bit shit, but it's not as expensive as shit was last summer"
The £110K house has a rateable value of £75K
The £175K house has a rateable value of £87.5K DOUBLE the rateable value even at this 'bargain' price...
Still some way to go folks.
I love the way both the descriptions basically say: "this house is a bit shit, but it's not as expensive as shit was last summer"
The £110K house has a rateable value of £75K
The £175K house has a rateable value of £87.5K DOUBLE the rateable value even at this 'bargain' price...
Still some way to go folks.
Coming from greedy old Pooler these are slightly more realistic sales pitches! Have you read his "advice" on how to buy property yet?
Pooler Estate Agents
QUOTE
How to buy in 2008
Estate Agents usually provide free valuations for potential sellers to give them an idea of what to expect prior to putting their house on the market. With the property market in a state of confusion and a huge variance in asking prices, Pooler Estate Agents have decided to offer potential buyers a free valuation service in order that they can offer on properties with confidence.
Why are Pooler Estate Agents offering this service now?
We feel that there is currently an impasse with many potential buyers put off by high asking prices when in reality the vendors of these properties would be delighted with an offer even if it is well below the current asking price.
Surely Estate Agents act on behalf of the seller not the buyer
Yes, the vendor of a property on the market with ourselves is our client and their interests are our main concern. However, these free valuations are primarily for people who are looking at property with other Estate Agents where we can take an objective and totally unbiased view. It is always our intention to negotiate a fair price in todays market and even if the property is on our books we feel that we can act as an intermediary in a professional yet open manner.
How much are house prices falling?
The slow down in the market has in fact been happening since around March 2007 so we have had plenty of time to understand the situation. We have been gradually reducing prices where vendors have been happy to do so, since last summer and have discovered a very buoyant market but at around 15% - 20% less than peak values of the last couple of years. The theory is that our clients have achieved less than they initially hoped but make up for this in their next purchase.
Will house prices fall more than this in the future?
General predictions for Northern Ireland prices in 2008 are not as much as the 15 - 20% falls mentioned previously. What we can tell you is that at the levels we are suggesting there is demand for terrace houses in East Belfast. This would imply that if other properties including houses further up the scale came down by this amount, demand would be such that prices would level out.
Is it a good time to buy now?
In our opinion, this is a good time to buy and we feel that there are excellent opportunities available. The problem is, what is good value? How do you know if someone has already dropped their asking price. There is no use in just offering 15% - 20% less on everything - you risk antagonising the seller and dare we say the Estate Agent!
Why ask Pooler Estate Agents?
Pooler Estate Agents have earned a reputation over the years for being open and honest. We have always been forthright in our views of the property market and simply want to help match eager sellers of property to enthusiastic buyers.
How can I get a free valuation of a property that I am interested in buying?
There is no need for us to inspect the house, we can either talk to you in person at our Cregagh or Ballyhackamore offices, talk to you on the telephone or reply to your e mail requests. We are familiar with most house types in East Belfast and we are able to check details on the internet. We will need the address of the property and your contact details.
Christopher Pooler
Pooler Estate Agents
Ballyhackamore and Cregagh
028 9047 1777
christopher@poolerestateagents.com
www.poolerestateagents.com
Estate Agents usually provide free valuations for potential sellers to give them an idea of what to expect prior to putting their house on the market. With the property market in a state of confusion and a huge variance in asking prices, Pooler Estate Agents have decided to offer potential buyers a free valuation service in order that they can offer on properties with confidence.
Why are Pooler Estate Agents offering this service now?
We feel that there is currently an impasse with many potential buyers put off by high asking prices when in reality the vendors of these properties would be delighted with an offer even if it is well below the current asking price.
Surely Estate Agents act on behalf of the seller not the buyer
Yes, the vendor of a property on the market with ourselves is our client and their interests are our main concern. However, these free valuations are primarily for people who are looking at property with other Estate Agents where we can take an objective and totally unbiased view. It is always our intention to negotiate a fair price in todays market and even if the property is on our books we feel that we can act as an intermediary in a professional yet open manner.
How much are house prices falling?
The slow down in the market has in fact been happening since around March 2007 so we have had plenty of time to understand the situation. We have been gradually reducing prices where vendors have been happy to do so, since last summer and have discovered a very buoyant market but at around 15% - 20% less than peak values of the last couple of years. The theory is that our clients have achieved less than they initially hoped but make up for this in their next purchase.
Will house prices fall more than this in the future?
General predictions for Northern Ireland prices in 2008 are not as much as the 15 - 20% falls mentioned previously. What we can tell you is that at the levels we are suggesting there is demand for terrace houses in East Belfast. This would imply that if other properties including houses further up the scale came down by this amount, demand would be such that prices would level out.
Is it a good time to buy now?
In our opinion, this is a good time to buy and we feel that there are excellent opportunities available. The problem is, what is good value? How do you know if someone has already dropped their asking price. There is no use in just offering 15% - 20% less on everything - you risk antagonising the seller and dare we say the Estate Agent!
Why ask Pooler Estate Agents?
Pooler Estate Agents have earned a reputation over the years for being open and honest. We have always been forthright in our views of the property market and simply want to help match eager sellers of property to enthusiastic buyers.
How can I get a free valuation of a property that I am interested in buying?
There is no need for us to inspect the house, we can either talk to you in person at our Cregagh or Ballyhackamore offices, talk to you on the telephone or reply to your e mail requests. We are familiar with most house types in East Belfast and we are able to check details on the internet. We will need the address of the property and your contact details.
Christopher Pooler
Pooler Estate Agents
Ballyhackamore and Cregagh
028 9047 1777
christopher@poolerestateagents.com
www.poolerestateagents.com
The latest email from Pooler:
16 Parkgate Crescent, Sydenham. There are not too many houses in East Belfast for sale at offers in the region of £89,950. In fact there are probably none. So what do you get for under £90,000? A two bedroom terrace house with living room, kitchen and downstairs bathroom. There is potential to move the bathroom upstairs if required. The property is obviously in need of considerable updating but still represents exceptional value for money. (edit - rateable value of £67,500)
370 Castlereagh Road, Belfast. Check the price of other similar houses on the Road - this is without doubt the best value in the area. A three bedroom red brick semi in good order with garden and garage, priced at £210,000. (edit - rateable value of £125,000)
16 Parkgate Crescent, Sydenham. There are not too many houses in East Belfast for sale at offers in the region of £89,950. In fact there are probably none. So what do you get for under £90,000? A two bedroom terrace house with living room, kitchen and downstairs bathroom. There is potential to move the bathroom upstairs if required. The property is obviously in need of considerable updating but still represents exceptional value for money. (edit - rateable value of £67,500)
370 Castlereagh Road, Belfast. Check the price of other similar houses on the Road - this is without doubt the best value in the area. A three bedroom red brick semi in good order with garden and garage, priced at £210,000. (edit - rateable value of £125,000)
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