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Just Completed But More Bearish Than Ever


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I just received a call from my solicitor that our house purchase has completed. Peaked at £289k or so and we got in for £220k. Why? Tired of waitng. No too bad adeal. We lucked out a bit as the sale was a estate deal and the vendors had no idea of local market conditions and probably undersold by a bit as bungalows that are nice around my way go quickly if under £250k.* We made the offer to buy (£5k under asking and didn't want to go lower as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

Anyway..................I am still in th bear camp and stick to my Crimbocast (the new HPC.co.uk challenge at Christmas every year when the brave put their heads on the block and guessimate where the year ahead will go.

*Anything over £250k is DIW. Large stuff is dropping heavily.

Spot the oxymoron.

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You dont become a VI after buying one house. After all, you need to live somewhere, so if you own 1 house, then you can simply live in it yourself, and it doesnt make any difference to your predicament if the housing market halves or doubles. It could only make a difference if you wanted to downsize or upsize, but that is depending upon circumstances.

VI in HPI have more than one house.

VI in HPC do not own any house.

Yes, exactly......my house is worth £1 but it is not for sale.......when it is worth 50p and I want to sell my next house will be 50p or less. ;)

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£220K for a bungalow....? If it's a typical size bungalow, irrespective of where you live, I expect you will lose about £100K+ off the value when all is said and done. I honestly don't think you could have picked your moment any better.

I just received a call from my solicitor that our house purchase has completed. Peaked at £289k or so and we got in for £220k. Why? Tired of waitng. No too bad adeal. We lucked out a bit as the sale was a estate deal and the vendors had no idea of local market conditions and probably undersold by a bit as bungalows that are nice around my way go quickly if under £250k.* We made the offer to buy (£5k under asking and didn't want to go lower as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

Anyway..................I am still in th bear camp and stick to my Crimbocast (the new HPC.co.uk challenge at Christmas every year when the brave put their heads on the block and guessimate where the year ahead will go.

*Anything over £250k is DIW. Large stuff is dropping heavily.

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Mr self-aggrandizing "wise" eagle

LOL, I can't believe you are resorting to such stupid personal attacks (and that you appear to take my nickname seriously, I certainly don't myself)... :lol:

But since the "wise" bit is irritating you I might change it soon to something else, I was starting to get bored of this nickname anyway.

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  • 2 months later...
  • 3 years later...

I just received a call from my solicitor that our house purchase has completed. Peaked at £289k or so and we got in for £220k. Why? Tired of waitng. No too bad adeal. We lucked out a bit as the sale was a estate deal and the vendors had no idea of local market conditions and probably undersold by a bit as bungalows that are nice around my way go quickly if under £250k.* We made the offer to buy (£5k under asking and didn't want to go lower as I saw the next lot of wannabe buyers arrive when we were still looking and these wre no shills) within 2 hours of it hitting RM and there were 3 more offers that day but the Vendors went with us because we had owt to sell.

Anyway..................I am still in th bear camp and stick to my Crimbocast (the new HPC.co.uk challenge at Christmas every year when the brave put their heads on the block and guessimate where the year ahead will go.

*Anything over £250k is DIW. Large stuff is dropping heavily.

It was a bit of a stab in the dark from me at the time, but I isolated it down to possibly this house... no.6

There were never any listing photos in the archive (at the time) which also went with the story that RB 'Dinosaur-Man' dealt direct with the estate/inheritors. However it was a wild guess; the only bungalow I could find in his Brighton/Peacehaven stomping ground that sold for £220,000 at the time.... well on the actual day of completion stated.

(The archived pics available now are just a mirror of the very latest listing pics - for it's just come back to market.)

Sale Date: 24 Jun 2011. Price Paid: £220,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=48131869&sale=222175&country=england

Asking price: £339,950

http://www.rightmove.co.uk/property-for-sale/property-48131869.html

Also it pretty much fitted in with this, when I found it on the streetview.

The house is a bit of a one-off and the only 2 BR bungalow in a Cul de Sac of large 4 and 5 bedroom exec homes. We know about the builder and he has since retired but had a reppy for custom jobs and top rate materials.

Yet day-after-day since, had to suffer the anti-hpcers, who have previously bought with jumbo mortgages and spreadsheets in their hands of HPI projected future glory, find out prices also fell in previous real crashes, whine on how they and everyone else is a victim of the banks - whilst the new breed of HPI forever spreadsheet buyers have been pushing and falling over one another to pay ever higher prices, up another 33% in my area. Week after week: "They should only give buyers willing to pay any stupid high price, even more massive HPI mwhahaahah." "I was a victim of the banks dontcha know - with my hpi gonna treble and treble again in value spreadsheet when I bought at 1989 peak."

Edited by Venger
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