TheCountOfNowhere Posted June 1, 2015 Share Posted June 1, 2015 Continuing with the West midlands is collapsing theme.... http://www.rightmove.co.uk/property-for-sale/property-44659102.html?premiumA=true 01/05/2015 Brief Description changed: *** WAS £460,000 NOW £420,000 *** An executive 4 bedroom detached house situated a gated development. Comprising of hall, guest cloaks, study, lounge, dining room, breakfast kitchen, utility room, bedroom 1 & 2 with ensuites off, refitted family bathroom, front and rear gardens, double detached garage. Viewing highly recommended. Price changed: from '£460,000' to '£420,000' 30/04/2015 Status changed: Audio Tour, Sold STC Tour 16/04/2015 Status changed: Audio Tour Tour, Sold STC 23/02/2015 Price changed: from '£455,000' to '£460,000' Status changed: Audio Tour, null, null Tour 19/01/2015 Price changed: from '£460,000' to '£455,000' 01/11/2014 Status changed: Premium Listing, Audio Tour, null, null 14/10/2014 Price changed: from '£450,000' to '£460,000' Status changed: Open House, Premium Listing, null, null 13/06/2014 Status changed: Premium Listing, Open House, null, null 06/06/2014 Initial entry found. Status changed: Premium Listing, null, null Maybe putting your price up off the back of mass media london induced hysteria was a bad idea..... Quote Link to comment Share on other sites More sharing options...
LabConH8er Posted June 1, 2015 Share Posted June 1, 2015 Bought for £360K in August 2005 ..... It only needs to drop £60K and those lucky people can boast that they have lived rent free for 10 years and didn't lose a penny despite buying at what should have been peak bubble prices. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 1, 2015 Share Posted June 1, 2015 (edited) Bought for £360K in August 2005 ..... It only needs to drop £60K and those lucky people can boast that they have lived rent free for 10 years and didn't lose a penny despite buying at what should have been peak bubble prices. ...but not interest free. Sure they might have bought by cash, but if they used a mortgage - with 20% deposit, £288K mortgage required - let's say 25 year term, minimum 4% lending rate (likely with 80% mortgage) and it's £960 in interest alone - per month. Rent free though... Edited June 1, 2015 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 1, 2015 Author Share Posted June 1, 2015 Bought for £360K in August 2005 ..... It only needs to drop £60K and those lucky people can boast that they have lived rent free for 10 years and didn't lose a penny despite buying at what should have been peak bubble prices. Even at 360K they have either lost interest or paid interest, 420K just about breaks even in rela terms for them....until you take into account buyier and selling costs. Buying a house in the UK n ow is just handing over money to the government in tax and eA fees ( including VAT ). It's one sick system. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 1, 2015 Share Posted June 1, 2015 Yeah I can't believe people see a loan as "free money". Interest is dead money Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 1, 2015 Author Share Posted June 1, 2015 (edited) Im tempted to go and offer £320K on it. So is the 420K a 2007 asking price and the 460K is a 2007+10% asking price. Prices going from totally insane to insane,. Either way, I wont be buying it. Edited June 1, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
LabConH8er Posted June 1, 2015 Share Posted June 1, 2015 Even at 360K they have either lost interest or paid interest, 420K just about breaks even in rela terms for them....until you take into account buyier and selling costs. Buying a house in the UK n ow is just handing over money to the government in tax and eA fees ( including VAT ). It's one sick system. T'is that. Quote Link to comment Share on other sites More sharing options...
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