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 Post subject: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:04 pm 
Anyone here a "French" estate agent - or knowledgeable about the market?

As mentioned previously elsewhere, we plan to return to England in the not too distant future and have been "tidying up" our house prior to putting it on the market, which we had initially planned to do next month, once all the outstanding jobs were finished (if ever they are - new ones coming along daily. :cry: ).

We had an estate agent value our house in 2003 thinking, at that time, we would be going back then, but that was shelved due to a succession of health problems. We have asked him again to give us a current value - and he tells us that it is practically the same as in 2003! According to him, prices went up in 2004 quite steeply, but since then have suffered a slow decline bringing them back to 2003 prices. Is that the experience of others in the business?

Further, he tells us that houses over 300,000 euros are taking an inordinate time to sell, not because of lack of buyers, but because of a glut of properties above that figure.

We are quite prepared to be realistic, but are very interested to know i9f his comments are generally correct.

Thanks in advance.


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:17 pm 
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I'm not currently au fait with prices but it's always been the case that the higher the price, the fewer the prospective purchasers, for obvious reasons. Not sure however about his rise/fall assessment. Prices went up steadily for around 3 years, then fell, but against the increased prices. So an increase of say 100% (sounds huge, but it certainly happened in this area), followed by a fall of 40 or 50% doesn't bring you back to the original price. Even I can see that, and I'm a mathematical dunce.

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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:20 pm 
I can't help on how prices have changed recently, but an estate agent in the village who has been trying to sell his own house for two years told us that houses up to €200k are moving quite fast, between €200-250k not so fast, and over €250k not at all. This is borne out by what we have seen around us; a house over the road sold within three months for €150k, yet a much nicer one in much better condition with an asking price of €265k has been on sale for three years now.


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:24 pm 
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I don't know anything about the French market, but if you can sell there you are going to be in a good position for buying back here in the UK. I was talking to an estate agent a day or so ago (he often comes into the shop where I volunteer ) & he was saying that he has so much property on his books & a lack of serious buyers. He's been in the business some 20 years & I would respect what he has to say.

If I'm not being nosey, whereabouts are you looking to live in the UK?


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:32 pm 
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I recently had to organise a property valuation for a client following the death of one of the owners of an SCI.
I used an English Chartered Surveyor who's had an agency here for 20 years, and he said it was hard to sell anything, but it was odd which houses did actually sell, there was no pattern to it. Any overpriced houses wouldn't shift AT ALL.

I see stuff all around here in every price range that has been on the market for a couple of years or more.

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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:39 pm 
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Actually an increase of 100% followed by a fall of 50% does bring you back exactly to the original price!


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:47 pm 
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:)) :)) :)) :)) :))
Brilliant!
made my afternoon... :D
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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:51 pm 
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alys wrote:
Actually an increase of 100% followed by a fall of 50% does bring you back exactly to the original price!


half a :oops: I was thinking of 50% of the increase - which is what's happened here apparently (only the more expensive properties). Things were static until about 2002, when a ferme à rénover could be had for €15k to 30k. By early last year, the English were paying €65++.

What made your pm, Pip?

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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:53 pm 
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Alys' comment..!
P
Don't take it seriously! :D

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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:53 pm 
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I can only imagine that the glut of properties over 300k has arisen because of the enormous number of properties that have been renovated over the past, say, 10 to 15 years, and whose value has therefore increased. Owners who have spent a lot of money on their properties are naturally looking to recoup their outgoings......

The majority of French buyers are not looking to buy properties at that price in rural areas because they cannot not earn the salaries required to repay a large mortgage. Banks in France do not lend the enormous sums that their counterparts in the UK do. I am increasingly told that it is more 'interesting' to have a new build than to buy an older property. Certainly the banks are far more willing to lend for this.


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 4:59 pm 
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Blaze wrote:
The majority of French buyers are not looking to buy properties at that price in rural areas because they cannot not earn the salaries required to repay a large mortgage.

I think Blaze's point here is spot on..
We live in a retirement area - (aka The Last Chance Saloon) and the market seems to be very buoyant with no noticeable slackening of pace. You would not believe the turnover of property on the Cote Basque. :shock:
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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 5:16 pm 
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In our area, I have seen Brits put their renovated houses on the market for 250k+ but who have eventually sold for less than 150k, which is far more realistic for the area. Out of the main towns, there is no work other than seasonal work, such as apple and grape picking. Unemployment in the Saumur area runs at around 17% (the national average is 10%).

As MAD says, before about 2002, it was easy to buy a farm to renovate with say, 2 or 3 hectares, for less than 30k. When we bought ours in 1997, similar properties were on the market 2 years later for double what we paid, and they have continued to rise as demand increased.

Larger properties, particularly with land, are expensive to run, with all sorts of taxes and charges to pay. Many people are now looking for something smaller for precisely that reason. These running costs seem to have rocketted over the last 10 years, and many of those not on a good salary are now struggling to make ends meet.


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 5:38 pm 
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Location, location and etc.

In the traditionaly strong areas the prices dipped but are now recovering. You have to talk with a specialist for the area. It's like asking how are the prices in the UK. Where in the UK?


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 5:45 pm 
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Exactamundo.. that's what I was getting at Dave.. ;)
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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 6:07 pm 
Piperade wrote:
Blaze wrote:
We live in a retirement area - (aka The Last Chance Saloon) and the market seems to be very buoyant with no noticeable slackening of pace.


Last chance saloon ! ! At leaast you have that last chance left :o . This is God's waiting room around here :ympray: .


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 6:12 pm 
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Down in Biarritz sometimes you can't hear the surf for the sound of arteries hardening while-U-wait! :lol:
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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 6:16 pm 
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Not sure of the higher end of the market, I don't think there is a house in the Correze worth 300K :))

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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 6:23 pm 
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Piperade wrote:
[.
We live in a retirement area - (aka The Last Chance Saloon) and the market seems to be very buoyant with no noticeable slackening of pace. You would not believe the turnover of property on the Cote Basque. :shock:
P

They always used to say the 3 Ds keep the property market afloat : Death, Divorce & Debt - so you get the death, P!

I'd add another D for the 'Brits in France' market : Disillusionment

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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 7:25 pm 
liz wrote:
Piperade wrote:
[.
We live in a retirement area - (aka The Last Chance Saloon) and the market seems to be very buoyant with no noticeable slackening of pace. You would not believe the turnover of property on the Cote Basque. :shock:
P

They always used to say the 3 Ds keep the property market afloat : Death, Divorce & Debt - so you get the death, P!

I'd add another D for the 'Brits in France' market : Disillusionment


... and Devaluation! :(


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 7:37 pm 
demi wrote:

If I'm not being nosey, whereabouts are you looking to live in the UK?


Yes you are being nosey! :lol: .. but why not? I would be.

Dunno yet Demi. We can't afford to go back to our old stamping grounds of Surrey and/or Hertfordshire because prices have moved well beyond our reach. Sadly, very few family members left now, so no great ties there, therefore the world is our lobster as Arthur Daley once so memorably said.

Considered options include East Anglia, Herefordshire and North Devon, but if it takes three years or more to sell, as indicated in this thread, I shall be so senile that I probably won't know or care where I am anyway.

DaveW is, of course, quite correct, (location, location, location) but in the UK they are always talking about "the average house price", so I was just enquiring after "the trend".


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 Post subject: Re: How's the property market now?
PostPosted: Wed Apr 14, 2010 8:31 pm 
majic wrote:
therefore the world is our lobster as Arthur Daley once so memorably said.



. . . . and your body is a template :lol: ?


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 Post subject: Re: How's the property market now?
PostPosted: Thu Apr 15, 2010 2:28 am 
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Hi Majic,
If you buy the weekly news magasine the Nouvelle Observateur this week there is a special on house prices in each region - it may give you more info relevant to where you live. Also the FNAIM site gives the general picture of where prices are heading - see the following page: http://www.fnaim.fr/immobilier-pratique ... arche.html
I am looking to buy and its typical as the immobiliers are telling me that the prices are really moving upwards (so be prepared to pay more than you thought) yet a friend of ours is selling and their immob is telling them that the market is slow and their asking price may be too high!! All in the same area! So as the yanks would say "go figure".

I think the price of any property is very variable depending on several factors - location etc... also the type of property that seems to be shifting mostly at the mo are the cheaper and smaller houses/flats (an increasing number of people are looking to buy into this market for their retirement or help their kids onto the ladder thereby fuelling demand - as seems to be the case with new builds (flats) with the advantageous tax breaks that several deals offer at the moment).

I reckon that if your house is well presented and you get it viewed by as many people as possible both via several local agences immobilier taking it onto their books, and putting it on several websites - those for expats as well as for those dealing with private sales - this would be your best bet. It never ceases to amaze me that so many people in France actually don't use an estate agant and DIY it largely over the internet with PAP or seloger etc....

Good luck with it Majic

PS I remember you mentioning a website that you can order English language books and the delivery was free but I've lost the name of the site - can you remeber it by any chance?


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 Post subject: Re: How's the property market now?
PostPosted: Thu Apr 15, 2010 4:01 am 
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Here's the nouvelle obs site:
http://guide.nouvelobs.com/immobilier/
cheers
still waiting for the i-) i-) i-) to arrive :-w (-| !!!


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 Post subject: Re: How's the property market now?
PostPosted: Thu Apr 15, 2010 6:33 am 
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Piperade wrote:
Alys' comment..!
P
Don't take it seriously! :D


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 Post subject: Re: How's the property market now?
PostPosted: Fri Apr 16, 2010 12:23 pm 
Thanks everyone for your very helpful input.

Psssst! Anyone wanna buy a house?


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 Post subject: Re: How's the property market now?
PostPosted: Fri Apr 16, 2010 12:41 pm 
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Majic, you are allowed to advertise in here you know ! ;)

One day I'll compile the statistics but of most things in the ads section sell really quickly.

Have you put your house on the 'net somewhere ? Do you have pics and a description etc? The garden itself would sell it for a lot of people !

Who is your house being sold with ?

Don't be shy !

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 Post subject: Re: How's the property market now?
PostPosted: Fri Apr 16, 2010 1:53 pm 
hardworkinghippy wrote:
Majic, you are allowed to advertise in here you know ! ;)

One day I'll compile the statistics but of most things in the ads section sell really quickly.

Have you put your house on the 'net somewhere ? Do you have pics and a description etc? The garden itself would sell it for a lot of people !

Who is your house being sold with ?

Don't be shy !


Not yet on the market.

Unfortunately the late winter storms did a bit of damage, mainly to the garden and the swimming pool area, so we have been waiting for the better weather to effect the necessary repairs. Now that good weather is here, the tradesmens' promised dates have gone back by about a month "because of the bad weather until recently."

We'll be looking for an up to date valuation, probably in early May, and then test the waters.


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 Post subject: Re: How's the property market now?
PostPosted: Fri Apr 16, 2010 6:27 pm 
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This has been interesting reading , as I might be putting my house up for sale very soon. B-)


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 Post subject: Re: How's the property market now?
PostPosted: Fri Apr 16, 2010 6:49 pm 
hardworkinghippy wrote:
Majic, you are allowed to advertise in here you know ! ;)

Have you put your house on the 'net somewhere ? Do you have pics and a description etc? The garden itself would sell it for a lot of people !

Don't be shy !


Here it is HWH. It's yours if you want it! :D


You do not have the required permissions to view the files attached to this post.


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 Post subject: Re: How's the property market now?
PostPosted: Fri Apr 16, 2010 10:35 pm 
MAD87 wrote:

My skin's like a rhino's. Sometimes it looks like a rhino's.



Oh no Mad! ! Not you as well now ! ! ! ! Image To fo ko plo cho do jo no ko zo wo.

Majic, nice drum you have there :-bd .


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 Post subject: Re: How's the property market now?
PostPosted: Thu May 10, 2012 7:45 pm 
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Resurrecting an old post here.

We've decided to put our town house up for sale and had an agent round yesterday. She told us that the market is beyond slow and that people are only really looking at property below 100k. Fortunately for us (being positive) she's valued our place at that, we're going to put it on the market at 99k and see what happens.

I'm hoping that being in the town will help... :YMPRAY: :ymdaydream:


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