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jpidding

Anocdotal....dont You Just Love 'em!

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OK, posted the info before, but now its turned up on www.houseprices.co.uk.

My friend bought for £153k at the end of 2002.

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He then gutted every room, inc 3 bedrooms, bathroom, kitchen and refurbed. Carpets, some floorboards....the lot. Got rid of a hell of a lot of nicotine yellow-white paint, fury wall paper etc. Reckon he spent £30-£40k+ on the place plus 6 months of evenings and weekends.

Decided to put the place on the market about a year ago for £240k. This was based on a very sinilar property selling just up the road a month or two earlier for £239.

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Place got an offer for full asking, but buyers were in a chain. Pulled out cos they couldn't sell theirs. Got another offer, for below asking but pulled out cos couldn't afford it. Original buyers returned with cash having sold theirs for less but couldn't offer asking.

Place finally sold for £207 a couple of months ago.

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Thats a fall of 13.4% in a year.

He's now looking to buy again. Told him he should lay off and see if things come down a bit more. But then I would cos I'm a bear. He's married with a young kid and wants to feel secure in his own place.

Kinda understandable.

James.

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Anecdotes rule, I love 'em. Sounds like he had shedloads of hassle for a very small (if any, with other costs) profit.

Yeah, I think that anecdotes are the best thing about this site.

I get fed up with reading posts about "prices have just gotta fall cos of debt" etc etc. We all know the arguements, otherwise we wouldn't be here.

I tried to start a database where HPC'ers could pick a property on rightmove and monitor it. The could then send me before and after screenshots of the web page so that we could all see true reductions and large numbers of them

Sadly no one was interested.

Lazy buggers!

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Guest rigsby II

ones a semi

the others a detached

you are comparing apples and pears

if it had been the same house number it would have been proof of a price fall

edit - somehow the land registry has changed the semi into a detached, thats why LR comparisons are sometimes flawed - I find this a lot

Edited by rigsby II

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ones a semi

the others a detached

you are comparing apples and pears

if it had been the same house number it would have been proof of a price fall

edit - somehow the land registry has changed the semi into a detached, thats why LR comparisons are sometimes flawed - I find this a lot

I did notice that they had changed it from semi to detached. I can tell you its a detached cos I've been in it! Indicates to me how ou have to be careful of data. Thats why I wanted to make our own database, supported by HPC'ers, where each could pick one or two properties in their local area and give on the ground info on.

You cant beat real world data on houses you can go and see and look around. You also need to have you finger on the pulse of the local community. This kind of stuff you just cant get from surfing rightmove.

In the example I know that the one that sold fo 239k WAS used as a direct comparison BY THE EA. It too was a detached.

James.

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your freinds bought a rundown house. sweated with skips for 6 months fixing it up for 10k profit after all the costs. hes only made £1,500 a month after tax. thats borderline considering all the work, hassle and risk.

these domestic home renovators are like the mice on the bagpuss organ.

'...we will fix it, we will mend it.."

Edited by right_freds_dead

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Yeah, I think that anecdotes are the best thing about this site.

I get fed up with reading posts about "prices have just gotta fall cos of debt" etc etc. We all know the arguements, otherwise we wouldn't be here.

I tried to start a database where HPC'ers could pick a property on rightmove and monitor it. The could then send me before and after screenshots of the web page so that we could all see true reductions and large numbers of them

Sadly no one was interested.

Lazy buggers!

Price drops in a 5 mile radius of my postcode

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Jesus Jon, good work!

How did you do that? Tried to look at the root directory of the link, but no dice!

Please tell all!

James.

I've written some software to automatically monitor prices on rightmove in my area. I'm letting another forum member have a copy of this in the next day or so to have a play with - if he/she gets on with it OK I may make it publicly available. But it does give the RightMove site a bit of a caning so some care is needed.

Jon

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I've written some software to automatically monitor prices on rightmove in my area. I'm letting another forum member have a copy of this in the next day or so to have a play with - if he/she gets on with it OK I may make it publicly available. But it does give the RightMove site a bit of a caning so some care is needed.

Jon

I am intrigued. Do tell. Are you screen scraping?

That info you have collected is very powerful. You should hammer the Rightmove site and send it to every publication in the land.

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The problem with anectdotals on HPC is of course that they are self-selecting. Firstly the 0.007% of the economically active portion of the great british public who use this site are on the look out for any evidence to support downwards movements and are much less likely to look for up. Second the harsh mundane reality (houses being sold on time at or near asking prices) do not make good anectdotes.

Interesting, but not scientific. Jon's excellent software idea is far better but again care is needed in interpretation. But that's what this site is for, presumably.

That and idling away endless boring hours in the office to avoid thinking about trains.

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The problem with anectdotals on HPC is of course that they are self-selecting. Firstly the 0.007% of the economically active portion of the great british public who use this site are on the look out for any evidence to support downwards movements and are much less likely to look for up. Second the harsh mundane reality (houses being sold on time at or near asking prices) do not make good anectdotes.

Interesting, but not scientific. Jon's excellent software idea is far better but again care is needed in interpretation. But that's what this site is for, presumably.

That and idling away endless boring hours in the office to avoid thinking about trains.

Good point BTB. I'm sure that even in boom times it is possible to find one example nationally of a property that was drastically reduced.

That was why I was keen to get each active HPC'er to select a couple of properties very local to them, not the price and then when an increase/reduction/sale occurred the data could be logged....down OR up.

We are all in danger of finding reasons to back up our theories and wishes.

James.

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I am intrigued. Do tell. Are you screen scraping?

That info you have collected is very powerful. You should hammer the Rightmove site and send it to every publication in the land.

Basically yes, its based on software we have for doing ... other stuff :)

I have been asked to remove that listing now. Such is life. But from my personal analysis of the figures to date, I can't arrive at the same figures that the Halifax do.

Jon

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I tried to start a database where HPC'ers could pick a property on rightmove and monitor it. The could then send me before and after screenshots of the web page so that we could all see true reductions and large numbers of them

Sadly no one was interested.

Lazy buggers!

Sorry, but I thought that's what the 'What Are House Prices Doing in Your Area' thread was for. I have been doing it there, though I don't have time to take screen shots to back up my data.

I have seen mega falls in asking prices in the Tunbridge Wells area this year. I'd log falling sale prices, but nothing's selling... ;);)

That's bloody gorgeous... if only I had the time/software to do the same - it would make beautiful reading around this area, I can tell you. Three recent 'for instances' include:

1. 3-bed detached in centre of town went on in Jan 05 for £410K - reduced this month to £349K - still not sold

2. 3-bed 60s semi in rough condition went on in March 05 for £275K - reduced two months ago to £219K - currently under offer

3. 3 new-build terraced houses (2-beds) - went on in Feb 05 for £250K now on at £199K - still not sold

:D:D:D

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Sorry, but I thought that's what the 'What Are House Prices Doing in Your Area' thread was for. I have been doing it there, though I don't have time to take screen shots to back up my data.

I have seen mega falls in asking prices in the Tunbridge Wells area this year. I'd log falling sale prices, but nothing's selling... ;);)

S-O, I do read the 'What Are House Prices Doing in Your Area' threads, but to be hoest I spend enough time trawing through this site as it is. My point is that if we had our own central database if would make things a hell of a lot easier. For each HPC'er to monitor 2-3 local properties hardly takes any effort. As for screen dumping, well if that takes a long time then you need a faster PC.

Here's one of mine as an expample.

excel2.gif

And the other sheet tab where I keep the link on rightmove.

Excel1.gif

All I do is open the file and hit the link once a week.

Dont think its too much of a ball ache.

By the way S-O, they're in Crowborough! My folks have the house a few doors up.

James

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Heh, I've got an anecdotal too. I was just talking to a friend who bought a nice house in the country with his partner at the start of the year. Unfortunately he still, after months on end, has not been able to sell his old house and has apparently had very few viewings. He's now considering renting it out because he simply doesn't have any other choice.

I haven't pried into price or anything, but somehow I suspect £Too Much is probably about right. Not sure how on earth they can cope with paying a mortgage on two places.

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I advertised for a place in the local rag. As I hate EA. Got a call from someone who has bought another place before the sale of his own went through. His sale fell through (stuck in a chain). Now wants to rent his old place out.

Can't afford two mortgages but yet he buys the new place.

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Basically yes, its based on software we have for doing ... other stuff :)Say no more Vicky boy!

I have been asked to remove that listing now. Who asked you? Such is life. But from my personal analysis of the figures to date, I can't arrive at the same figures that the Halifax do.

Jon

Cheers

Edited by Marina

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My little anecdote of the day, when we moved into rented, two other houses (next door and next door but one) were up for sale, both identical and @ £280K.

We thought these didn't seem badly priced.

Next door was rented out, the other remained for sale, but reduced to £265 (in March).

Next door was sold to the tenants, just come on the LR systems ........ £235!

Next door but one has been removed from the market last week.

S I am a very happy bunny with my STR decision.

Mr T.

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I know a married couple who have kept their respective individual properties as investments, and bought another house this year as their 'marital home'.

They both originally bought their own flats pre-2002, so it wouldn't be so bad.

Trouble is, they MEW'ed to get the deposit for the new house. So effectively, they've borrowed 100% of the price of the new house at early 2005 prices.

Not good !!

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Further to my anecdotal, my friend said this morning that he had no choice but to lower his asking price. I said "Yep," and no more...

If he still fails to sell he will rent it out. Which could be quite difficult, because it's in a fairly remote location. He's now petrified that after doing the house up it will be damaged by renters.

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  • 301 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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