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TheCountOfNowhere

I Like To Start The Day With A £300K Drop

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http://www.rightmove.co.uk/property-for-sale/property-44882767.html

18/03/2015
Agent changed: from 'by Acres' to 'Acres'
Agents Location changed: from 'Four Oaks.' to 'Four Oaks'
Price changed: Offers in Region of £1,650,000 £1,350,000
11/03/2015
Status changed: from 'null' to 'Available'
15/12/2014
Price changed: £1,650,000
Price changed: Offers in Region of £1,650,000
27/11/2014
Price changed: Offers in Region of £1,650,000
17/06/2014
Initial entry found.
There you go, you are now £300K better off.

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In the W Midlands??? £1.3M???

1.65 was a total joke. 1.35 is a massive joke.

Yeah, the west midlands.

Basically from Milton Keynes north any 5 bed house is on the market for "total joke" money, having previously been on the market for years at "massive joke" money.

If you are selling your 1.35M terrace in clapham and moving to the wet Midlands, that house looks like a bargain. If you are a struggling business owner in Birmingham, that house looks like a sick joke.

One can see how the London mega bubble can easy distort the housing market of the whole country and cause real problems for non-londers. Still the London based MPs probably dont see this.

The joke aint funny any more.

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Yesterday you said you looked at the previous Land Registry sold price then worked out a real price from there. This one sold for £1,160,500 in Aug 2004.

What's your real price for it now?

Well, the west midlands land registry is still about 2004 levels so i'd say:

£1,160,500.

if someone offers £100K under the asking price there then it's not far off that level. if someone overs 10% off the asking price, it's pretty much spot on that price.

If listed for £300K more than it is now, that means it was probably on at 2007 + 20% maybe ?

If it doesn't sell in the next 6 months then who knows what it's worth.....

These sort of top down drops must be making stuff like this, nearby:

http://www.rightmove.co.uk/property-for-sale/property-47597321.html

http://www.rightmove.co.uk/property-for-sale/property-51091034.html

http://www.rightmove.co.uk/property-for-sale/property-48038125.html

harder to shift at those price.

When they drop it then puts more pressure on the £800-£1M places etc.

The 500K+ market didnt really drop in 2008, it just disappeared....now maybe we're seeing reality strike.

Edited by TheCountOfNowhere

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http://www.rightmove.co.uk/property-for-sale/property-44882767.html

18/03/2015
Agent changed: from 'by Acres' to 'Acres'
Agents Location changed: from 'Four Oaks.' to 'Four Oaks'
Price changed: Offers in Region of £1,650,000 £1,350,000
11/03/2015
Status changed: from 'null' to 'Available'
15/12/2014
Price changed: £1,650,000
Price changed: Offers in Region of £1,650,000
27/11/2014
Price changed: Offers in Region of £1,650,000
17/06/2014
Initial entry found.
There you go, you are now £300K better off.

Ok that house is uninhabited in the photos... presuming that is still the case, where the f**k are the occupants? Either a rental void, or they've downsized already, or a foreign cash buyer now trying to escape? Or repo?

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Well, the west midlands land registry is still about 2004 levels so i'd say:

£1,160,500.

if someone offers £100K under the asking price there then it's not far off that level. if someone overs 10% off the asking price, it's pretty much spot on that price.

If listed for £300K more than it is now, that means it was probably on at 2007 + 20% maybe ?

If it doesn't sell in the next 6 months then who knows what it's worth.....

When you click the Market Info the last sold price doesn't show (again....) it just lists one for sale 1/2m away at £2m!!

If it makes you feel any better someone has just bought a £1,295,000 2 bed flat in Cheshire.

http://www.rightmove.co.uk/property-for-sale/property-50226122.html

Aye.... houses are cheaper up North.

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That one in Chester is built right next to a busy roundabout (in a building partially occupied by the local council, who only moved in there because the developers couldn't get any other businesses to move in)

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Cheshire I can imagine. #LoadsaMoney!!!

But Midlands???

Depends where in the Midlands. There are areas of loadsamoney there too, have been for a long time. When I was 9 - which is a very very VERY long time ago - my folks moved from Purley in Surrey to Solihull, then Warwickshire, now W Midlands. And even then one of the EAs said to my mother, 'You're nobody here unless you've got three cars and a horse.'

I kid you not.

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Not if you are a rich londoner lucky idiot from London

Nah, I'm just a normal idiot from London :)

What I really mean is that the houses themselves are not dives -- I'd be pleased to live in either.

The Clapham terrace would not be considered "cheap" even by London standards.

It's true that people here do tend to suffer appalling number-blindness when presented with house prices, but £1.3m is still a lot money to almost every resident of the city. People have managed to double-think themselves into not seeing it as real money anymore.

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Looking at the pictures I'd say this could be a repo...

Would anybody with enough dosh to own and run such a place put up with a dangerously wonky toilet seat?

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Nah, I'm just a normal idiot from London :)

What I really mean is that the houses themselves are not dives -- I'd be pleased to live in either.

The Clapham terrace would not be considered "cheap" even by London standards.

It's true that people here do tend to suffer appalling number-blindness when presented with house prices, but £1.3m is still a lot money to almost every resident of the city. People have managed to double-think themselves into not seeing it as real money anymore.

Most people dont even see money anymore, just bits of plastic and numbers on a screen. It's so easy to loose sight of it's value when you dont have it in front of you.

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Looking at the pictures I'd say this could be a repo...

Would anybody with enough dosh to own and run such a place put up with a dangerously wonky toilet seat?

Ahhh, I remember the days when repos went at real market value not pretend HTB/FLS/ISA propped 30% over value.

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Depends where in the Midlands. There are areas of loadsamoney there too, have been for a long time. When I was 9 - which is a very very VERY long time ago - my folks moved from Purley in Surrey to Solihull, then Warwickshire, now W Midlands. And even then one of the EAs said to my mother, 'You're nobody here unless you've got three cars and a horse.'

I kid you not.

A load of smug ****wipes been on this long-wave HPI trip for decades.

The EAs and owners/buyers who lap it up.

These house prices and still HPCers weeping over buyers paying such prices, that 'No one reports the risks.' FFS

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A load of smug ****wipes been on this long-wave HPI trip for decades.

The EAs and owners/buyers who lap it up.

These house prices and still HPCers weeping over buyers paying such prices, that 'No one reports the risks.' FFS

Looks like this house and the one from the other BIG drop are off the market now.

I wonder if they sold ?

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Count; they're probably waiting for the market to recover in that area.

Last sold for £1,160,500 in 2004

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=45347372&sale=8511641&country=england

Problem with these listings, where there are some hints of weakness, is they're far removed from my price range... I don't even want a rambling large house.

http://www.rightmove.co.uk/property-for-sale/property-44882767.html

18/03/2015
Agent changed: from 'by Acres' to 'Acres'
Agents Location changed: from 'Four Oaks.' to 'Four Oaks'
Price changed: Offers in Region of £1,650,000 £1,350,000
11/03/2015
Status changed: from 'null' to 'Available'
15/12/2014
Price changed: £1,650,000
Price changed: Offers in Region of £1,650,000
27/11/2014
Price changed: Offers in Region of £1,650,000
17/06/2014
Initial entry found.
There you go, you are now £300K better off.

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Count; they're probably waiting for the market to recover in that area.

Last sold for £1,160,500 in 2004

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=45347372&sale=8511641&country=england

Problem with these listings, where there are some hints of weakness, is they're far removed from my price range... I don't even want a rambling large house.

They'll be waiting a long time now. That London mega bubble trickle down has surely come and gone.

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