Dumb arsed question about price of a house.

[DimPrawn]

Assuming no major alterations, a house currently on sales for £750K that sold in Feb 2007 for £570K; What would you offer now?

Or would you not even consider buying now at any price? (what about if it was 1p?)

[Mich the Tester]

Assuming no major alterations, a house currently on sales for £750K that sold in Feb 2007 for £570; What would you offer now?

Or would you not even consider buying now at any price? (what about if it was 1p?)

Show me the house.

[sasguru]

Assuming no major alterations, a house currently on sales for £750K that sold in Feb 2007 for £570; What would you offer now?

Or would you not even consider buying now at any price? (what about if it was 1p?)

I have been tempted by some auctions and distress sales, but think it's still too early. However cheap now, will be (much?) cheaper in a year.

[BrilloPad]

I Asuume you meant £570k in FEb 2007? I reckon 50% fall in total so £285k will be the lowest point.

Of course if you wont live in house then you need to consider rental income. But on a house of that price should be no issue?

[minestrone]

IF interest payments stay the same I cannot see a massive fall in the next year.

After nearly 2 years of renting I am just about ready to move back into the market and purchase.

[sasguru]

IF interest payments stay the same I cannot see a massive fall in the next year.

After nearly 2 years of renting I am just about ready to move back into the market and purchase.

Oh Dear! (TM).

[Bagpuss]

House prices will fall to 03 values IMHO.

[PM-Junkie]

Assuming no major alterations, a house currently on sales for £750K that sold in Feb 2007 for £570; What would you offer now?

Or would you not even consider buying now at any price? (what about if it was 1p?)

It's actually a corking question. My first reaction would be that anyone who buys a house at the moment without needing to is an idiot, but your comment about what is it was 1p got me thinking. Obviously if someone offered me a 500k house for a penny I'd jump at it, so there must be a point where my no becomes a yes.

I'd say as soon as it is more than 30% less than its peak price, I would start twitching. At 40% I'd probably break.

[BrilloPad]

House prices will fall to 03 values IMHO.

What sort of a fall is that from Aug 07?

[Mich the Tester]

Obviously if someone offered me a 500k house for a penny I'd jump at it, so there must be a point where my no becomes a yes.

I bid 2p.

Next bid.