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TheCountOfNowhere

Maybe Putting Your Asking Price Up Last Oct Was A Bad Idea....

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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.....

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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.

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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... :rolleyes:

Edited by canbuywontbuy

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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.

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Im tempted to go and offer £320K on it.

:D:D:D

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 by TheCountOfNowhere

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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.

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