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Jester

A House That I Sold 2 Years Ago

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I sold a house 2 years ago for £250,000 - a good value sale in my opinion. The house needed some work doing to it, but it sold in 2 weeks.

Last October it went back on the market for £350,000 - I was shocked. There had been a lot of work done to it to be fair but still I was shocked.

It was sold by December. I was still surprised and looked forward to seeing the land registry data for it.

It's back on the market again for £350,000 so the sale fell through. I'm still watching :-)

Edited by Jester

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Would the work have "increased" the value by £100k? Have similar houses been going for £100k premium which are well maintained and look after by loving owners? :P

If the house sells at £350,000 it will become the most expensive house in the road.

In my opinion the work that has been done is excellent and could (possibly) add £50,000. They have decorated throughout, replaced the kitchen and bathrooms. And landscaped the gardens. Replaced the windows too. All very nicely done - high spec.

I think that I sold the house for a good price deliberately valued below the upper threshold for stamp duty.

I think that they would be lucky to get £350,000 but I'm watching lol. My kids didn't want me to sell - I could even buy it back if the price is right ;-)

Edited by Jester

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If the house sells at £350,000 it will become the most expensive house in the road.

In my opinion the work that has been done is excellent and could (possibly) add £50,000. They have decorated throughout, replaced the kitchen and bathrooms. And landscaped the gardens. All very nicely done - high spec.

I think that I sold the house for a good price deliberately valued below the upper threshold for stamp duty.

I think that they would be lucky to get £350,000 but I'm watching lol. My kids didn't want me to sell - I could even buy it back if the price is right ;-)

Now that would be a very clever move, especially if you can buy it back for less than you sold it for and having had the house fixed up. :D

That would be a stroke of genius.

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Now that would be a very clever move, especially if you can buy it back for less than you sold it for and having had the house fixed up. :D

That would be a stroke of genius.

Hahaha I did think that when I sold it. I knew that they were thinking of going into property developing but I didn't think that my house was the best to do that. Otherwise I would have done it wouldn't I?

It's quite a big house - nice but very small garden. I think that anyone keen to pay £300,000 for a property would want a bit more land.

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Hahaha I did think that when I sold it. I knew that they were thinking of going into property developing but I didn't think that my house was the best to do that. Otherwise I would have done it wouldn't I?

It's quite a big house - nice but very small garden. I think that anyone keen to pay £300,000 for a property would want a bit more land.

How much interest have they lost so far by not selling it quick? Add in the extra taxes too, and that high selling price is hurting them more than anyone else.

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How much interest have they lost so far by not selling it quick? Add in the extra taxes too, and that high selling price is hurting them more than anyone else.

Yes they are a nice couple though - young so good luck to them. They didn't tell me that they intended to do it up to sell but I guessed that was what they were up to. It's a pity really because IMO it was never going to work. I did ask if I could take the lights from the living room but they said no. I'm a bit annoyed about this because they have replaced them and I knew that they would.

I'll keep you posted anyway. Looking at other houses in the road I doubt that it's worth more than £300,000. To be fair I'm not sure that it's worth more than £250,000 even with all the work that they have done.

One thing that's odd is that somehow the data on Zoopla has been manipulated -I'd like to know how that happened. I kept an eye on it and one day it changed. The house was valued at £250.000 or there abouts (what I sold it for) then one day it changed to £350,000 including a change in the historical records - strange eh? I'm uncomfortable with this fact.

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It's back on the market again for £350,000 so the sale fell through. I'm still watching :-)

All it takes to kill a sale is a one valuer with no appreciation of twigs in vases. It's a scandal that goes unreported.

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All it takes to kill a sale is a one valuer with no appreciation of twigs in vases. It's a scandal that goes unreported.

Oh my gosh I've just been to look at the house on rightmove and yes it does have twigs in a vase WITH LIGHTS ON THE TWIGS lol

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If the house sells at £350,000 it will become the most expensive house in the road.

In my opinion the work that has been done is excellent and could (possibly) add £50,000. They have decorated throughout, replaced the kitchen and bathrooms. And landscaped the gardens. Replaced the windows too. All very nicely done - high spec.

I think that I sold the house for a good price deliberately valued below the upper threshold for stamp duty.

I think that they would be lucky to get £350,000 but I'm watching lol. My kids didn't want me to sell - I could even buy it back if the price is right ;-)

So has it been "BEENYFIED'

A decent 3 bedder turned into a 5 bedder (to justify the increase) which just fits in a 2/3 scale "double bed" and furniture where you have to walk through the "ensuite" toilet/shower wetroom on the old landing to get to the bedrooms. ;)

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One thing that's odd is that somehow the data on Zoopla has been manipulated -I'd like to know how that happened. I kept an eye on it and one day it changed. The house was valued at £250.000 or there abouts (what I sold it for) then one day it changed to £350,000 including a change in the historical records - strange eh? I'm uncomfortable with this fact.

Uncomfortable with that....you and me both mate! That smells distinctly fishy.

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Thanks for the share :o)

I hope that when we do reach the bottom of this impending crash or gentle decline in house prices this will ameiliorate this, to be fair, cancer, that improvements to a house carry such a RIDICULOUS premium. If, once we reach bottom, one can increase the value of a house by 40% by changing the bathroom, kitchen, windows and garden of a house, allbeit to a high spec, then the British economy will still be broken and backward.

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Not meaning to hijack the thread, but that Zoopla issue concerns me greatly. I'm personally convinced Zoopla data is friggable. I don't know know how, but there's quite simply no other explanation for properties I've observed appearing with values so far out of whack with those around them. Just another property market scam, I suppose.

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Not meaning to hijack the thread, but that Zoopla issue concerns me greatly. I'm personally convinced Zoopla data is friggable. I don't know know how, but there's quite simply no other explanation for properties I've observed appearing with values so far out of whack with those around them. Just another property market scam, I suppose.

If you are logged in to Zoopla I think it lets you add information about an individual property? Maybe someone goes in and ticks that a property has every possible addition possible?

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on the Zoopla thing I believe it is because the renter or the landlord has updated the details of the property. That definitely changes the valuation as more info is taken into account. Just go and fill the details of your home and see the difference.

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The spooky thing is, the two houses that look most suspiciously high (relative to those around them) don't have visible updated details. That I could at least partly understand. This is what makes me wonder if something even more underhand is going on. Well, something MUST be going on. Even with a more recent sold price update there's simply no way to account for the disparities I'm seeing.

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Thanks for the share :o)

I hope that when we do reach the bottom of this impending crash or gentle decline in house prices this will ameiliorate this, to be fair, cancer, that improvements to a house carry such a RIDICULOUS premium. If, once we reach bottom, one can increase the value of a house by 40% by changing the bathroom, kitchen, windows and garden of a house, allbeit to a high spec, then the British economy will still be broken and backward.

I think this stems from the fact that when house prices were reasonable, it might actually COST something close to 40% of the original value of an unmodernised house to do this type of work. Now prices have bubbled up so far, people still think that they can charge that type of premium on a much higher base cost.

I do wonder what people's attitude to spending money on home improvements will be when prices come down. Spending £35k on a full refurb of a £200k house is expensive, but if that house comes down to £125k it is a massive proportion of the value. Will we see people spending less on refurbs or doing it more gradually. It certainly doesn't look like the cost of these improvements if going to be coming down!

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The change on Zoopla could have been made by the vendor or the agent. In fact it could have been done by anybody.

You can get an estimate on any property or refine it. All you do is answer the questions. I assume somebody did this and added the fact that they had spent £xxxx on renovation plus included other features.

I will research Zoopla and many other places before going to give an appraisal. After the appraisal I tend to update the details on Zoopla to see if it comes up with an estimate close to what I suggest. Sometimes it does, but sometimes it does not and when it does not it can be very different :o

I would assume the sale fell through because a buyer could not get a mortgage on it due to the high asking price. Simple really. You are never going to sell a house when others similar are not selling at that price.

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  • 312 Brexit, House prices and Summer 2020

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      • down 5% +
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