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TheCountOfNowhere

Nearly 3 Years On The Market...finally Found A Buyer....

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Finally, after almost 3 years on the market....this one found a buyer:

http://www.rightmove.co.uk/property-for-sale/property-33882196.html?premiumA=true

20/04/2012
Initial entry found.
### sees like a long time ago....but if you are prepared to wait for the right price.....
17/08/2012
Price changed: Offers in Region of £695,000
#### Blimey was originally on around £700K
22/02/2013
Status changed: Premium Listing, Open To Offers, null

### They've been open to offers

16/04/2013
Price changed: Offers in Region of £695,000 £650,000
### And even tried reducing their price.
02/09/2013
Brief Description changed: SEPTEMBER NEW INSTRUCTION -
### is that a re-listing I see before me ?
01/11/2014
Status changed: Premium Listing, null, Under offer, null
### Hooray, we have a buyer, I knew it was worth that price. Well done to the tories, that's another vote in the bag.
09/12/2014
Status changed: Premium Listing, Under offer, null, null

### oh oh....spoke to soon. Still, our 4th spring bounce will be along soon, we're not giving it away.

## this was re-listed today on right moved somehow hence why I saw this PB history.

5 beds round northants in 2007 were selling for £400-£500K and that was at the peak of the bubble.

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Three years of their life put on hold renting selling :lol:

The last house i owned, it took me about 12-15 months to find a buyer, I only lived there 18 months, realised what a mistake it was living their shortly after I moved in. I completed shortly before the NR collapse, at which point I realised it was all a big con.

Not being able to sell was a weight round my neck. The agents ALL wanted to put the house up for silly money, it sold for 80K less then the initial asking price ( 10K more than I paid for it, which just about covered my buying/selling costs ). It was depressing not being able to find a buyer. It was perhaps the unhappiest time of my life. Lilttle did I know at the time how dysfunctional the market had become and what was coming.

Had I not accepted the offer when I did I'd have been stuck for years because of the 2007 collapse. The people who bought off me put the house up for sale 12 months after moving it and it took them 3 years and a £50K hit before the sold. The caught the start of the FLS money by the looks of it. Some savvy buyer/commuter moving out of london, I like to speculate, getting a bargain. Someone paid 50K less for a much bigger/better house 100 yards up the road 12 months earlier so that savvy buyer was a F**K wit.

If only they'd waited another 12 months they might have got all their money back ( less interest/costs ) and be much less bitter now.

Being stuck in a house is no fun.

The costs/risks involved in owning a house are huge.

Buying at the prices we see now is a mugs game for sure.

The moral of this story....price it right for the current market conditions and it will sell....and self harmers should not be lent money from state owned banks.

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Finally, after almost 3 years on the market....this one found a buyer:

http://www.rightmove.co.uk/property-for-sale/property-33882196.html?premiumA=true

..

09/12/2014
Status changed: Premium Listing, Under offer, null, null

### oh oh....spoke to soon. Still, our 4th spring bounce will be along soon, we're not giving it away.

## this was re-listed today on right moved somehow hence why I saw this PB history.

5 beds round northants in 2007 were selling for £400-£500K and that was at the peak of the bubble.

Sale Date: 27 May 2009. Price Paid: £510,000

Sale Date: 19 Jun 2006. Price Paid: £615,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=11768247&sale=40636061&country=england

Should have continued going down from 2009. £300K-ish, then more falls from here. Alas it will have to be a short sharp shock from here. There's only a handful of listings in a 1/4 search from that postcode. This 2010 buyer looks to have come back to market and is Sold STC, and just under what they paid in 2010.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=42568112&sale=44107823&country=england

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Sale Date: 27 May 2009. Price Paid: £510,000

Sale Date: 19 Jun 2006. Price Paid: £615,000

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=11768247&sale=40636061&country=england

Should have continued going down from 2009. £300K-ish, then more falls from here. Alas it will have to be a short sharp shock from here. There's only a handful of listings in a 1/4 search from that postcode. This 2010 buyer looks to have come back to market and is Sold STC, and just under what they paid in 2010.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=42568112&sale=44107823&country=england

Crazy isn't it...all supported by the tax payers...and the youngs futures.

Corrupt and shameful.

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Not being able to sell was a weight round my neck. The agents ALL wanted to put the house up for silly money, it sold for 80K less then the initial asking price ( 10K more than I paid for it, which just about covered my buying/selling costs ). It was depressing not being able to find a buyer. It was perhaps the unhappiest time of my life.

Hope that feeling exists for many owners, and spreads. Get them under siege, with fewer buyers. Who cares about bitter owners not being able to sell for what they want?

£650,000... just shy of $1 million dollars, for a mid-range family house in the sticks outside Northampton ?

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Hope that feeling exists for many owners, and spreads. Get them under siege, with fewer buyers. Who cares about bitter owners not being able to sell for what they want?

I guess it depends on how the owners feel, how desperate they are for the cash and if they have to, or really want to move.

I have no sympathy for anyone trying to sell an over-priced asset for 3 years neither but you have got to wonder for some to offer on it, either they are cash rich and mad, or they have suddenly got loads of equity in their house and have found a buyer willing to hand them that equity....follow that down the chain and the mug at the bottom of the chain must be paying well over the odds to support these pyramid prices.....that mug being a FTB with a gifted deposit from BOMAD and some desperado taking the government up on their Help !!!!

If the idiot buyers are gone and there are no cash rich londoners moving to the sticks, willing to pay double what a house is worth, then these sort of prices are unsustainable.

£300K sounds about right.

£650,000... just shy of $1 million dollars, for a mid-range family house in the sticks outside Northampton ?

Yeah, put that way, it's easy to see it's insane pricing.

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1 in 100 people earn £150k or more in this country - £500k is inside the 3.5x single income measure for £150k salary, and that is a 1 in 100 type of house - its a beautiful property in a beautiful village. £500-600k is on the money in affordability terms, and you'll never buy it for £300k again unless/until there is a complete and very serious economic reset.

The rich are getting richer - its the more average properties that are out of wack with incomes.

The real crap in the Northampton market is the new build identikit shit that is up for £300k but 50% overvalued - the sort of houses bought by middle class public sector workers and Barclaycard middle managers in the 90's for £80-120k that should be £120-180k now based on incomes.

Edited by disenfranchised

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1 in 100 people earn £150k or more in this country - £500k is inside the 3.5x single income measure for £150k salary, and that is a 1 in 100 type of house - its a beautiful property in a beautiful village. £500-600k is on the money in affordability terms, and you'll never buy it for £300k again unless/until there is a complete and very serious economic reset.

The rich are getting richer - its the more average properties that are out of wack with incomes.

The real crap in the Northampton market is the new build identikit shit that is up for £300k but 50% overvalued - the sort of houses bought by middle class public sector workers and Barclaycard middle managers in the 90's for £80-120k that should be £120-180k now based on incomes.

Comedy gold...you sound like a desperate e.a....prices can defy logic and double but cant follow logic and halve.

There was an economic collapse in 2007. You should be up in arms your taxes, your future and your childrens futures have been used to try and keep the price of houses like like at Silly prices.

This house has been up for sale for years its obviosly priced wrong. 5 beds as i said were selling well below 500k in 2007...the land reg for northampton still below 2007 peak.

You make no sense.

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Personally I think DF speaks a lot of sense. it looks a lovely house. Bit overpriced we brought similar house but South Herts and so a bit more but off peak return to Kings Cross £8.70 and at weekends can be in Piccadilly Circus in 40 mins by car.

The point is houses a third of our size can go locally for over £300k which seems completely out of whack.

Thus helping the rich get richer and really hurting middle income families

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Sometimes I get to wondering why people who have bought a house recently or are a homeowner spend time on a site like this! There are loads of you on here. It is a HOuSE PRICE CRASH FORUM. There is a kind of smug self satisfied approach that just oozes out of your posts, very puzzling

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Personally I think DF speaks a lot of sense. it looks a lovely house. Bit overpriced we brought similar house but South Herts and so a bit more but off peak return to Kings Cross £8.70 and at weekends can be in Piccadilly Circus in 40 mins by car.

The point is houses a third of our size can go locally for over £300k which seems completely out of whack.

Thus helping the rich get richer and really hurting middle income families

How is the spending picking up part going?

So I feel confident as a business owner not because my order book is the best for 5 years but because I can get a mortgage at 2.89 % rather than the off set 3.7% I have now on a 400k offset (the offset is the confidence giving factor not the rate) saving me £200 a month ?

What has happened is normal spending by a large proportion of the population hasn't resumed yet, another year of these conditions and it will.

Don't get the insanely cheap bit - when interest rates were different ( this might be the new 'norm' ) you could get 4 - 5 % fixed deals ( our commercial mortgage is 5% and signed in 2004)

In fact mortgage money is expensive when you look at the input cost.

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Sometimes I get to wondering why people who have bought a house recently or are a homeowner spend time on a site like this! There are loads of you on here. It is a HOuSE PRICE CRASH FORUM. There is a kind of smug self satisfied approach that just oozes out of your posts, very puzzling

Because we are concerned about our own and everyone else's kids being crippled by the insane HPI of recent times. Alongside the greed of sellers, landlords and letting agents, and the venality of EA's and the like. Add into the mix the duplicity of politicians and lenders.

Enough reasons?

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The last house i owned, it took me about 12-15 months to find a buyer, I only lived there 18 months, realised what a mistake it was living their shortly after I moved in. I completed shortly before the NR collapse, at which point I realised it was all a big con.

Not being able to sell was a weight round my neck. The agents ALL wanted to put the house up for silly money, it sold for 80K less then the initial asking price ( 10K more than I paid for it, which just about covered my buying/selling costs ). It was depressing not being able to find a buyer. It was perhaps the unhappiest time of my life. Lilttle did I know at the time how dysfunctional the market had become and what was coming.

Had I not accepted the offer when I did I'd have been stuck for years because of the 2007 collapse. The people who bought off me put the house up for sale 12 months after moving it and it took them 3 years and a £50K hit before the sold. The caught the start of the FLS money by the looks of it. Some savvy buyer/commuter moving out of london, I like to speculate, getting a bargain. Someone paid 50K less for a much bigger/better house 100 yards up the road 12 months earlier so that savvy buyer was a F**K wit.

If only they'd waited another 12 months they might have got all their money back ( less interest/costs ) and be much less bitter now.

Being stuck in a house is no fun.

The costs/risks involved in owning a house are huge.

Buying at the prices we see now is a mugs game for sure.

The moral of this story....price it right for the current market conditions and it will sell....and self harmers should not be lent money from state owned banks.

What was so bad about the property that you and your buyers wanted to put it back on the market so soon after purchasing?

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How is the spending picking up part going?

Since your asking swooped the Arnage for a Maserati 4200 GT ( pre owned as older model) lovely car, two holidays plus a few smaller ones and probably spent more on the house this year than last 3 ( not massive probably £10k the majority servicing as it were)

So spending on infrastructure and big ticket items going well as it appears to be for my peers and many of our employees. Being exceptionally frugal with things that don't change my quality of life I have come late to and must say it was probably because of being on here

Edited by Greg Bowman

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Sometimes I get to wondering why people who have bought a house recently or are a homeowner spend time on a site like this! There are loads of you on here. It is a HOuSE PRICE CRASH FORUM. There is a kind of smug self satisfied approach that just oozes out of your posts, very puzzling

Agree with Juvenal and to add intelligent people post on here so worth dipping into, also I am aware I am not objective ( like everyone) so to be part of this forum is often enlightening and makes me think.

My spending habits on ancillaries as mentioned above have definitely changed because of the influence from here

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Comedy gold...you sound like a desperate e.a....prices can defy logic and double but cant follow logic and halve.

There was an economic collapse in 2007. You should be up in arms your taxes, your future and your childrens futures have been used to try and keep the price of houses like like at Silly prices.

This house has been up for sale for years its obviosly priced wrong. 5 beds as i said were selling well below 500k in 2007...the land reg for northampton still below 2007 peak.

You make no sense.

2007 wasn’t a crash in the market, let alone a reset, it was just the realisation that one is coming.

Yes, I think that house was over the money at 695k and 650k, so I’m not surprised it sat unsold - but I am also not surprised it has sold eventually. It will never be a 300k house again without a paradigm shift. I do not expect “crash part 2” that is looming to deliver the big reset that may eventually come and expect that house to hold up OK, as the incomes of the top few % of earners have.

Making bear arguments about afforability based on income (as you have previously) whilst branding my observations about growing income disparity and increasing incomes at the top "comedy gold" just makes you look like the bear equivalent of the most blinkered kind of an "it's different this time" bull.

I share your anger at the actions of Liebour governments to allow prices into the stratosphere, and at this government to prop them up there. They have both conspired to screw the younger generations. BUT I have also learned to base my expectations on reality, not outrage.

Wanting sanity back, believing it should and must come eventually, doesn’t mean it will happen soon. It doesn’t matter how angry you are about it or how many threads you post expressing your incredulity or how many people like me you brand as an 'EA' who in fact largely share your sense of injustice.

Edited by disenfranchised

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Since your asking swooped the Arnage for a Maserati 4200 GT ( pre owned as older model) lovely car, two holidays plus a few smaller ones and probably spent more on the house this year than last 3 ( not massive probably £10k the majority servicing as it were)

So spending on infrastructure and big ticket items going well as it appears to be for my peers and many of our employees. Being exceptionally frugal with things that don't change my quality of life I have come late to and must say it was probably because of being on here

Damn houses such money pits. Never factored in when people come to sell...the margin magically becomes profit.

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Sometimes I get to wondering why people who have bought a house recently or are a homeowner spend time on a site like this! There are loads of you on here. It is a HOuSE PRICE CRASH FORUM. There is a kind of smug self satisfied approach that just oozes out of your posts, very puzzling

Maybe you are projecting..maybe the new homeowners are a tad nervouse and watching out for bad prophecies that might come to fruition..I reckon this place (hpc) is for all walks of life and for people in all situations.. it really can make a person think..the negative soothsayers get a bit monotonous but every so often great enlightened posts come along...

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I reckon this place (hpc) is for all walks of life and for people in all situations.

Agree. Surely the site is for anybody who understands that houses are damagingly expensive - regardless of whether they own any.

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What was so bad about the property that you and your buyers wanted to put it back on the market so soon after purchasing?

That's what want to know too!

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Personally I think DF speaks a lot of sense. it looks a lovely house. Bit overpriced

:lol:

It's been on the market nearly 3 years. Similar, better, houses sold for 400k in 2007. Prices still down on that in Northamptonshire.

Places like this are looking relatively reasonably priced this year, twelve months ago they were laughable. Why? The London mega bubble winners coming to the shires and paying twice as much for houses than local wages can sustain. Looks like it's all falling apart locally now though but the madness is still there for all to see.

I give you facts, you give me,subjective nonsense.

At least you admit your v.I. Most don't.please, take off your rose tinted specs and see the house ponzi for what it is.

Edited by TheCountOfNowhere

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1 in 100 people earn £150k or more in this country - £500k is inside the 3.5x single income measure for £150k salary, and that is a 1 in 100 type of house - its a beautiful property in a beautiful village. £500-600k is on the money in affordability terms, and you'll never buy it for £300k again unless/until there is a complete and very serious economic reset.

The rich are getting richer - its the more average properties that are out of wack with incomes.

The real crap in the Northampton market is the new build identikit shit that is up for £300k but 50% overvalued - the sort of houses bought by middle class public sector workers and Barclaycard middle managers in the 90's for £80-120k that should be £120-180k now based on incomes.

My sister and her husband (early-to-mid 30s) are renting an apartment in a northern city. They earn £110K-£120K between them in senior professional positions. One of them just had a review last month about how they are short of their target for the year; encouragement to find ways to meet their year end target. The other, who has been on a another company training course past week away from home (which he would prefer not to do), saw his company bought by a different firm about 3 months ago, and there are unknowns to what that might mean for employees.

You've got the paradox of low interest rates for younger generations meaning they have to save more for the future/retirement, as compounding on savings isn't occurring (as much). They also have aspirations beyond housing, including maintaining a quality of life, providing for children, beyond a big house that's expensive to run, and jumbo mortgage.

There are lots of these homes on the market at £600K+. If it sells, more likely to go to an owner lucky enough to sell top prime somewhere else (in the London bubble) or an older side stepper - but fewer of both in market, and more so if London softens quickly - than someone taking on jumbo mortgage on your £500k is inside the 3.5x single income measure for £150k salary measure imo. I hope this end of the market takes heavy equity losses into a hpc, and many younger people have stretched all out with their finance to buy much more modest housing, in recent years. There may be a lot fewer upsizers.

Paul Hewitt estimates that "the predicted trade-up market" may not materialise if a growing number of buyers elect to remain in housing they consider adequate, rather than risk their equity in large luxury homes. As this trend becomes apparent, ageing home-owners, who are depending on their homes to provide retirement security, will try to sell. This will push prices down further.

The properly rich (with money, not just equity, which is subject to valuation change) are not going to buy up every such house on market; they lust for having cash in bank and elsewhere than in property, imo.

A New York University prof, Edward Wolff, has done some interesting research for us. He found rich people (the top 1%) have just 9% of their net worth in their houses, while middle-class Americans have 63% there.

A new survey of family offices by Citi finds that the wealthy are cash heavy—meaning they may fall short of the investment returns they're expecting. Wealthy families have about 39 percent of their assets in cash, according to a recent poll of more than 50 large family office representatives from 20 countries conducted by Citi Private Bank.

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