In-Law's Family's House On The Market - For The Same Price They Paid At Peak!

[Bear Necessities]

Ok, so thankfully this is far enough removed from me (wife's sister's husband's sister's house!) that I can stay well out of it, but thought it was an interesting anecdotal.

They just put their small 2 bed in Warwick on the market for 190K a couple of weeks ago...

...which is exactly the same price they paid in May 2007 (ouch!!!!)

Bet they were told by friends and family at the time that getting on the ladder was a great idea. and prices only ever go up...

will be interesting to see how this one pans out. It's only just gone on, so might be a while before they reach the price cutting desperation stage! They are moving for work and to be nearer family so I guess they might try for the "we'll just rent it out" option if they can't sell at peak price!

Or it might sell within the month, I'll keep you posted either way.

Edited March 25, 2011 by Bear Necessities

[Pent Up]

I expect most houses would initially ask peak price if the average house sells for 91% of asking then it's around 10% off peak before asking price reductions.

[Bear Necessities]

Good point.

I don't know them well enough to know if they are "not a penny less than we paid for it" type people.

Early days yet.

[Dringo]

This means nothing until you know what they are buying next. I do find it quite strange why you are that bothered what someone else does in regard to there life style choices and money matters. Sad I think comes to mind. Make your choice that suits you and get on and enjoy your life !

[Bear Necessities]

This means nothing until you know what they are buying next. I do find it quite strange why you are that bothered what someone else does in regard to there life style choices and money matters. Sad I think comes to mind. Make your choice that suits you and get on and enjoy your life !

Oh I'm sorry, I thought this was the anecdotals thread? you know where people post observations from their own experiences and those of their friends and family? If you aren't interested and find it "strange" that one person would be interested in what somebody else does, then why are you here in the first place?

I thought other people might find it mildly interesting to see the mind set of some specific house owners and the fact that the house is on for the same as peak (they haven't tried to get more for it, but again they haven't cut the price either) I find that interesting, my humble apologies if you don't, but nobody made you read it or comment on it. I even made the effort to post it under anecdotals, so that those who don't care don't read it.

If it's sad to be interested in the affairs of other people that you know and be interested in the state of the market in various areas of the country, then I wonder why you are interested enough to bother to comment on the post of someone you don't know, talking about some other people you don't know.

Seems a little sad to me.....

Edited March 25, 2011 by Bear Necessities

[Bear Necessities]

But then I made the choice not to buy a house at peak.

[Dringo]

Bear - good answer, I understand what you are saying. I flick on this site a few times a month whilst having a few beers. Don't normally post but there is so much negativity. I appreciate your stance and a fair reply but come on make a decision on what you want to do and just go with what makes sense to you. I appreciate that we all have different circumstances so I can't comment on your personal issues but I wish people would just be a bit more positive about things and do what makes sense to them personally not bitch about others. Anyway good luck in whatever your after !

[Unsafe As Houses]

Oh I'm sorry, I thought this was the anecdotals thread? you know where people post observations from their own experiences and those of their friends and family? If you aren't interested and find it "strange" that one person would be interested in what somebody else does, then why are you here in the first place?

I thought other people might find it mildly interesting to see the mind set of some specific house owners and the fact that the house is on for the same as peak (they haven't tried to get more for it, but again they haven't cut the price either) I find that interesting, my humble apologies if you don't, but nobody made you read it or comment on it. I even made the effort to post it under anecdotals, so that those who don't care don't read it.

If it's sad to be interested in the affairs of other people that you know and be interested in the state of the market in various areas of the country, then I wonder why you are interested enough to bother to comment on the post of someone you don't know, talking about some other people you don't know.

Seems a little sad to me.....

+1

Thanks for the share and keep us updated on how it goes

With the limitations and misrepresentation of house price indices I think anecdotal evidence is of some value.

[Bear Necessities]

Sorry I snapped at you Dringo, defence mechanism and all that.

I'm not here to make enemies!

I guess with a name like housepricecrash, you'd expect a certain amount of negativity around these parts! (in fact negativity is what most of us are looking for in the house price figures!)

And I have made a decision, a decision to hold out a year or two longer before (cash) buying a place for me and my small family. I was posting this in the spirit of trying to contribute to the site, as I feel I tend to do a lot more consuming of content than I do posting (I figured posting a thread would be a good way to join in), not in an attempt to belittle or upset my distant relatives (who aren't going to see it)

Having a sideways look at what others are doing is less about schadenfreude (they are nice people by all accounts) and more about personal decision making (well if people are still pricing at peak, then its not time for us to buy - that sort of assessment).

Anyway, no hard feelings.

Edited March 25, 2011 by Bear Necessities

[Bear Necessities]

double post

Edited March 25, 2011 by Bear Necessities

[Dringo]

Nice one Bear ! I like these debates because it is good to see and understand each other. I wish every success in getting what you want for you and the family. I understand it is hard but chin up and all I am saying is if it makes sense to you and you are happy with buying that particular house then go for it. Buy it enjoy it and accept that it is not all about investments and how much is yours compared to mine etc. You sound like a good guy so the best luck !!!!!!!

[Bear Necessities]

Oh, god no, I agree, definitely not buying a place to invest!

I just want a decent long term family home (room for the wife, kids and a spare room for the family to visit) and a decent garden that I can build my own pizza oven in! That's the dream man!

Unfortunately the dream doesn't exist around here for the sort of money we've got to spend, so either have to look at moving away, or give it a few months and see if prices come down to meet our budget (whilst working hard to earn some extra money in the meantime!)

Once we do buy a place that we can afford and that is a long term home then how much it's worth will become totally meaningless to me

family, health and happiness are all far more important that money.

Edited March 25, 2011 by Bear Necessities

[Dringo]

Pizza Oven ! thats sound goods my mate ! Appreciate where you are coming from, hope things work out. What part of the UK are you from ?

[Bear Necessities]

actually grew up in a little village in Northants but currently living in Chester due to work. Don't have any ties here though so am looking around the country for somewhere nice (and reasonably priced!) to settle. Somewhere rural I think as that's how I grew up and I miss it.

Yourself?

[chrismar]

BearN. I fully understand where you coming from. We are trying to buy. At right price. Everyting we look at is on wellabove 2006 and 2007 prices and in many cases selling at very close to them. Yet other stuff a mile away from waterfront and marinas on the grotty rougher troublesome anti-social areas is dropping down tremendously