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DimPrawn
18th December 2008, 13:30
Got the details of another house for sale. Vendors are asking £745K.

According to the Land Registry, they bought it in Feb 07 for £570K.

And estate agents wonder why they are doing 1 transaction per month?

expat
18th December 2008, 13:35
Got the details of another house for sale. Vendors are asking £745K.

According to the Land Registry, they bought it in Feb 07 for £570K.

And estate agents wonder why they are doing 1 transaction per month?The land registry figures suck dead wombats.

Peoplesoft bloke
18th December 2008, 13:36
but according to rhe rampant capitalists, greed is a good thing.

minestrone
18th December 2008, 13:42
Trying to hold on to high prices is just going to make the fall worse in the long run.

Bear
18th December 2008, 13:45
Got the details of another house for sale. Vendors are asking £745K.

According to the Land Registry, they bought it in Feb 07 for £570K.

And estate agents wonder why they are doing 1 transaction per month?

But what have they done to it in the meantime? It could have been a wreck and they have done it up beautifully. They could have added a huge extension.

It might have been worth £1m if the market was still good.

TimberWolf
18th December 2008, 13:54
Got the details of another house for sale. Vendors are asking £745K.

According to the Land Registry, they bought it in Feb 07 for £570K.

And estate agents wonder why they are doing 1 transaction per month?

Your ID is highly amusing to me, but loses its credibility when you speak of buying a three-quarters of a million pound property just before we are to have the biggest property price slump in living memory. A bit like when you're trying to enjoy a film or nightmare and something illogical crops up that ruins the fantasy and wakes you up. 1/10.

BrilloPad
18th December 2008, 14:09
Your ID is highly amusing to me, but losses its credibility when you speak of buying a three-quarters of a million pound property just before we are to have the biggest property price slump in living memory. A bit like when you're trying to enjoy a film or nightmare and something illogical crops up that ruins the fantasy and wakes you up. 1/10.

Maybe the alertnative is to keep it in the bank - £35k per account takes a few to reach £750k. In fact 22......

DimPrawn
18th December 2008, 14:30
But what have they done to it in the meantime? It could have been a wreck and they have done it up beautifully. They could have added a huge extension.

It might have been worth £1m if the market was still good.

Well there's no sign of an extension and unless they went to a specialist to obtain realistic 1970's decor throughout, I'd say they'd only mown the lawn in the 10 months of ownership.

Still, they trying to make £170K for living in a house for a few months.

Boomed!

Credit Crunch ™ my :moon:rse.

BrilloPad
18th December 2008, 14:31
Well there's no sign of an extension and unless they went to a specialist to obtain realistic 1970's decor throughout, I'd say they'd only mown the lawn in the 10 months of ownership.

Still, they trying to make £170K for living in a house for a few months.

Boomed!

Credit Crunch ™ my :moon:rse.

Do you live near CyberTory?

DimPrawn
18th December 2008, 14:32
Do you live near CyberTory?

Must do.

My personal research shows this so called housing crash to be wishful thinking on the part of renters.

DimPrawn
18th December 2008, 14:34
Your ID is highly amusing to me, but loses its credibility when you speak of buying a three-quarters of a million pound property just before we are to have the biggest property price slump in living memory. A bit like when you're trying to enjoy a film or nightmare and something illogical crops up that ruins the fantasy and wakes you up. 1/10.

I'm only going to buy a £750K house now if I can get it for less than £500K.

Certainly not going to pay £750K for house that was bought a few months ago for £500K ish.

Mich the Tester
18th December 2008, 14:37
If I had 500k to buy a house, I’d just bugger off somewhere sunny and sit under a palm tree being oralized until the recession’s over.

BrilloPad
18th December 2008, 14:38
I'm only going to buy a £750K house now if I can get it for less than £500K.

Certainly not going to pay £750K for house that was bought a few months ago for £500K ish.

Prices will drop From Aug 07 to Aug 10 by about 50%.

Archangel
18th December 2008, 14:47
Well there's no sign of an extension and unless they went to a specialist to obtain realistic 1970's decor throughout, I'd say they'd only mown the lawn in the 10 months of ownership.

Still, they trying to make £170K for living in a house for a few months.

Boomed!

Credit Crunch ™ my :moon:rse.

Feb 07 is nearly 2 years ago, more than just a few months.

minestrone
18th December 2008, 15:26
The only houses I have seen going for cheap are ones where someone ended up with 2 places at the same time and is desperate to shift one. Other than that most places are not dropping because the owner will not sell for less than they got the place for.

Since interest rates have dropped so much nobody is really pressed to sell now.

TimberWolf
18th December 2008, 15:39
You bargain hunters will ruin the housing depression if you can't learn to be patient. It will take a little time before house prices plummet and people are repossessed and left destitute. Can't you just give it a few months before moaning?

Bear
18th December 2008, 16:04
Well there's no sign of an extension and unless they went to a specialist to obtain realistic 1970's decor throughout, I'd say they'd only mown the lawn in the 10 months of ownership.

Still, they trying to make £170K for living in a house for a few months.

Boomed!

Credit Crunch ™ my :moon:rse.

Fair enough - you didn't say any of that in the original post.

Do you work for the Daily Mail?

DimPrawn
18th December 2008, 16:15
Do you work for the Daily Mail?

No. Too left wing and cheery for me.

Another Dodgy Agent
18th December 2008, 16:57
Prices will drop From Aug 07 to Aug 10 by about 50%.

Blimey I believe you. Where did you get that info?? :p

gingerjedi
18th December 2008, 17:02
The land registry figures suck dead wombats.

Why do you say that? I've checked all my mates on nethouseprices.com and they're spot on.:D

minestrone
18th December 2008, 18:51
Why do you say that? I've checked all my mates on nethouseprices.com and they're spot on.:D


The house I rent just now is down for 250,000 but I am told it was actually bought for 320,000.

Don't know how it was done but we can see why it was done.

Cyberman
18th December 2008, 19:04
The only houses I have seen going for cheap are ones where someone ended up with 2 places at the same time and is desperate to shift one. Other than that most places are not dropping because the owner will not sell for less than they got the place for.

Since interest rates have dropped so much nobody is really pressed to sell now.



Having a mortgage of 2% and paying 132 pounds a month, down from 800 pounds 9 months ago , surely beats renting !!! It cannot be long now before house prices start rising again, especially if overseas buyers move into the market with their powerful Euros. :D

Turion
18th December 2008, 19:19
Having a mortgage of 2% and paying 132 pounds a month, down from 800 pounds 9 months ago , surely beats renting !!! It cannot be long now before house prices start rising again, especially if overseas buyers move into the market with their powerful Euros. :D

The last theory may have legs, but the rest is doubtful. Next year will be estimated 75K repos, 3mill unemployed and banks as tight as arses with lending. Affordability and forced sales will drag down prices another 15%. The latest mortgage rates are way above the base rate also.

Ivor Bigun
18th December 2008, 20:00
Having a mortgage of 2% and paying 132 pounds a month, down from 800 pounds 9 months ago , surely beats renting !!! It cannot be long now before house prices start rising again, especially if overseas buyers move into the market with their powerful Euros. :D

Duuuhh - in the last 12 months, your house has halved in Euro terms.
What makes you think they won't wait another 12 months? :laugh

BrilloPad
18th December 2008, 20:11
Blimey I believe you. Where did you get that info?? :p

I read the daily mail :laugh

OwlHoot
18th December 2008, 20:17
..
Your ID is highly amusing to me, but loses its credibility when you speak of buying a three-quarters of a million pound property just before we are to have the biggest property price slump in living memory...

:spel Shouldn't that be "gains"?

Cyberman
18th December 2008, 21:15
Duuuhh - in the last 12 months, your house has halved in Euro terms.
What makes you think they won't wait another 12 months? :laugh


... but remained stable in Pound terms with a rapidly reducing mortgage interest bill. :D I may also use my Euros in due course to add to my property portfolio. :banana:

Cyberman
18th December 2008, 21:17
I read the daily mail :laugh


Gullibility is the first sign of Alzheimers. That was also in the Daily Mail. :smokin

tim123
19th December 2008, 20:41
Your ID is highly amusing to me, but loses its credibility when you speak of buying a three-quarters of a million pound property just before we are to have the biggest property price slump in living memory. A bit like when you're trying to enjoy a film or nightmare and something illogical crops up that ruins the fantasy and wakes you up. 1/10.

Like Vanilla Sky you mean?

tim