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45% Annual Fall In Nottingham!

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"Quick Sale Urgently Required. All Offers Considered. Guide Price £135,000 - £140,000. All offers required by October 3rd 2005, 12 noon."

"The property was purchased for £157,995 only 4 months ago and the vendors are willing to take a loss in return for a very quick sale"

Nottingham House

Bought 4 months ago for £158k

Asking £135k for a quick sale

= 15% drop in 4 months

Cumulatively annualised = 45%

OK, I am being a bit cheeky, but I guess this is the sort of sign that we have been waiting so long for. This is one of the worst investments I have ever seen - there really are some complete muppets out there.

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Guest KingCharles1st

Bought 4 months ago for £158k

Asking £135k for a quick sale

= 15% drop in 4 months

Cumulatively annualised = 45%

Dont forget to add in the EA's and solicitors fees, for both buying and selling, and the cost of the new dwelling- what ever that is going to be?

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I am watching Chiswick very closely.

There is now a four bedroom house for sale, with an attached 1 bed flat and garden

Price?

All offers received by the end of September will be considered.

The rush for the exit stampede is building...

http://www.rightmove.co.uk/viewdetails-455...pa_n=1&tr_t=buy

Edited by BandWagon

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do you know the "muppets" in question ?  How do you know that you are not gloating over someone's personal tragedy which has forced them to sell their property regardless of what they get for it?

Fair point. I think some are quick to condemn others as greedy people who deserve to lose, without knowing the circumstances. The same posters often criticise bulls for gloating over the plight of FTBs.

We should perhaps talk about falls/rises in prices without assuming everyone who loses out is a muppet, whether they be sellers or would-be buyers!

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Fair point. I think some are quick to condemn others as greedy people who deserve to lose, without knowing the circumstances. The same posters often criticise bulls for gloating over the plight of FTBs.

We should perhaps talk about falls/rises in prices without assuming everyone who loses out is a muppet, whether  they be  sellers or would-be buyers!

I agree completely.

But I reserve the right to call all recent BTL investors "muppets". ;)

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do you know the "muppets" in question ?  How do you know that you are not gloating over someone's personal tragedy which has forced them to sell their property regardless of what they get for it?

What possible "personal tragedy" could mean they have a rationale reason for selling?

If it is divorce - what on earth were they doing buying a new house when their marriage was on the rocks?

If it is redundancy - why have they not got sufficient savings to pay the mortgage for four months?

I would never take a chance with my finances so that I would be forced to sell a major investment four months after it was bought

If you can think of a situation, please by all means elaborate ...

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What possible "personal tragedy" could mean they have a rationale reason for selling?

The house may suddeny become unsuitable e.g sudden disabilty meaning stairs can't be used. Selling at a lower price and moving to a bungalow could mean the difference between being in their own home or 'bedblocking'/moving to residential nursing care etc.

An older person may have to go into care/nursing home and realtives may feel it is better to sell at a lower price and get better care than hold out for a higher price.

I am sure there are more reasons...anyone?

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do you know the "muppets" in question ?  How do you know that you are not gloating over someone's personal tragedy which has forced them to sell their property regardless of what they get for it?

This is how the last crash started and I suspect it will run out the same way. The value of houses is set by the houses that are sold not houses overall, and as houses are sold in desperation those are the ones that set the market price.

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Bought 4 months ago for £158k

Asking £135k for a quick sale

= 15% drop in 4 months

Cumulatively annualised = 45%

Dont forget to add in the EA's and solicitors fees, for both buying and selling, and the cost of the new dwelling- what ever that is going to be?

Gotta love those figures. It is a 15% drop no matter how you look at it.

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BUYERS BEWARE!

This house is still 35K too expensive. Give it another year or so and this house will be below 100K.

Don't be fooled by all these so called bargains out there. BRL'ers are just waking up and smelling the coffee. The first ones out are the lucky ones.

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LOL

Quite Cul-de-sac Location

not quiet!

Westbury ... they do part exchanges ... house near me has just changed signs to one of theirs...

So how does part-x work?

Do the part-x companies risk the house not falling in price?

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New estate near me (Beds) just finished (Started build last year). As soon as houses started completing, there were Private Sale board up on one of the brand new houses. This was priced more than the brand new ones not even sold yet.

So I assume the buyer bought off plan, new ones are now selling for less, so wants to sell.

No takers yet, so there is now £5k cash back for quick sale ... me thinks desparate to sell.

Interested about the private sale though ... presumably wants to avoid EA commission - what with the cashback probably DESPARATE to sell.

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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