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Homes Under The Hammer

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Italian born couple buy house in Moor Park conservation area for £584k that needs doing up. Bought at auction in Feb 2008 and says she bought at peak. err no, 6 months after it.

Haven't touched it, trying to get money back, having got planning permission (cost £10k). No viewings.

Valuation in June 2009 is £499k to £525k. :)

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How did that one get past the Official Censor? Pwoperdee only ever goes up in "Homes Under The Hammer" land.

Dare say they will stage a remarkable turn round for the camera's. "We decided to rent instead" or something.

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Italian born couple buy house in Moor Park conservation area for £584k that needs doing up. Bought at auction in Feb 2008 and says she bought at peak. err no, 6 months after it.

Haven't touched it, trying to get money back, having got planning permission (cost £10k). No viewings.

Valuation in June 2009 is £499k to £525k. :)

Well theres one whos keys will be being posted back to the bank (uk taxpayer) if they dont sell it

Edited by Tamara De Lempicka

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How did that one get past the Official Censor? Pwoperdee only ever goes up in "Homes Under The Hammer" land.

Dare say they will stage a remarkable turn round for the camera's. "We decided to rent instead" or something.

The 2 EAs quoted over £1200 p.m. to rent it, but it would have needed a clean up. The back garden had become completely overgrown.

Of course Martin exudes that it would be "over £14k p.a. in rent!" Amazing, incredible, a 2.5% yield, fantastic.

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Well theres one who's keys will be being posted back to the bank (uk taxpayer) if they dont sell it

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&street=NORTH+APPROACH&locality=NORTHWOOD&town=NORTHWOOD&cCode=EW&year=All&house_style=All&house_age=All&search_radius=&outcode=HA6&incode=2JG

:)

interesting thing about `Moor Park` those else where might not know is that it is a gated estate with car number plate recognition cameras that display your number on a display when you enter or leave...

however, the underground station, a supposedly public place is within-in this area, so when ever you visit this public place by car, the good people (actually some very very bad people, but thats another story ;) ) of Moor Park will know about it

nice people live in Loudwater, Arabs and Americans live in Moor Park, was ever thus.................

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The bungalow that was bought at auction (13 Madison Av, Chaddesden, Derby) is listed here:

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&street=MADISON+AVENUE&locality=CHADDESDEN&town=DERBY&cCode=EW&year=All&house_style=All&house_age=All&search_radius=15&outcode=DE21&incode=6HZ&eastingToSearch=43750&northingToSearch=33720

I always assumed that this data is from the Land Registry, but posters on here often complain that auction sales are ignored. Unless it is on the registry list but is flagged as 'ignore' when compiling their house prices data maybe?

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The bungalow that was bought at auction (13 Madison Av, Chaddesden, Derby) is listed here:

http://www.nethouseprices.com/index.php?con=sold_prices_street_detail&street=MADISON+AVENUE&locality=CHADDESDEN&town=DERBY&cCode=EW&year=All&house_style=All&house_age=All&search_radius=15&outcode=DE21&incode=6HZ&eastingToSearch=43750&northingToSearch=33720

I always assumed that this data is from the Land Registry, but posters on here often complain that auction sales are ignored. Unless it is on the registry list but is flagged as 'ignore' when compiling their house prices data maybe?

Your right auction sales are listed but are not included in the HPI figures. Although apparently academetrics use all LR figures in their HPI.

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Italian born couple buy house in Moor Park conservation area for £584k that needs doing up. Bought at auction in Feb 2008 and says she bought at peak. err no, 6 months after it.

Haven't touched it, trying to get money back, having got planning permission (cost £10k). No viewings.

Valuation in June 2009 is £499k to £525k. :)

Didnt she put it on at £585k?

Love these RM ads where people who bought at or near peak where they put it on at £1k more than they paid. WILL NOT MAKE LOSS. WILL NOT MAKE LOSS. In this case with rates >+5% at the time they probably lost double digits thousands in interest paid or lost, given it was vacant and no rent was being generated.

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How did that one get past the Official Censor? Pwoperdee only ever goes up in "Homes Under The Hammer" land.

Dare say they will stage a remarkable turn round for the camera's. "We decided to rent instead" or something.

As I have posted before ......

They reguarly show houses that the buyer makes a loss on.

It is always because they overbid at the auction.

It's a useful lesson IMHO.

tim

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It is always because they overbid at the auction.

It's a useful lesson IMHO.

tim

Of course you are right. Pwoperdee only ever goes up, and if doesn't its the fault of the buyer.

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Didnt she put it on at £585k?

Love these RM ads where people who bought at or near peak where they put it on at £1k more than they paid. WILL NOT MAKE LOSS. WILL NOT MAKE LOSS. In this case with rates >+5% at the time they probably lost double digits thousands in interest paid or lost, given it was vacant and no rent was being generated.

On sale until March 2010 at 545,000:

http://www.rightmove.co.uk/house-value.html?searchLocation=HA6+2JG&radius=0.0&displayPropertyType=&bedrooms=&sellersPriceGuide.x=45&sellersPriceGuide.y=25

It looks like the same house.

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I was off sick last week and noticed how every morning the BBC excrete out this back-to-back property propaganda. Homes Under the Hammer, To Buy or Not to Buy, Cash in the Attic... Gotta love the intro to Homes Under the Hammer with computer generated houses all puffing £-signs out the chimneys. :rolleyes: Still, they're just filling a need, eh?

BBC got a gentle rap over the knuckles about it last month: http://www.guardian.co.uk/media/2010/jul/05/bbc-daytime although not for the right (HPC friendly) reasons.

Fortunately I was able to turn off the telly and do more productive stuff instead (i.e. surf the interweb, HPC.co.uk, etc.)

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As I have posted before ......

They reguarly show houses that the buyer makes a loss on.

It is always because they overbid at the auction.

It's a useful lesson IMHO.

tim

Guide prices have some logic.

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Nicely spotted. Sold for £510k

So thats a £74,000 loss

+ £20400 SDLT

+ 20 months of interest paid or lost, given rates didnt start falling until end 2008, thats probably over 5% average, or £3500 a month, or £70,000 over twenty months according to BBC mortgage calc.

So in total this little venture probably made them a loss of least £160,000, plus legal fee etc.

Didnt watch all of it, did they mention such a figure, given the presenters usually start salivating if a six figure profit is 'predicted' by the 'experts'

Edited by Sadman

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How did that one get past the Official Censor? Pwoperdee only ever goes up in "Homes Under The Hammer" land.

Dare say they will stage a remarkable turn round for the camera's. "We decided to rent instead" or something.

I've seen several where auction price + doing-up price was less than subsequent valuation.

But more often in cases where punters said, 'Don't much care, it's our home, not an investment.'

Believe it or not. ;)

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I loved the chapel - as a home not an investment.

I think the bungalow could be ok.

The other property was a disaster - romantic notion on the part of the buyers.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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