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PulpFiction

Imupnorth As Well

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The continuing saga of the house next door

As you can see from the attached link, I've been posting about the house next door to the house I sold at the start of the year.

After putting it on for £155k (about 2 months after ours had sold for £140k), it's been reduced, and reduced. It's now just been reduced to £129,950... which by my calculations is a £25k drop from the original asking price and £10k less than we actually sold ours for.

As far as I can see, the figures being spouted by the press may make it all look rosy in the housing market, but the news on the street is, it certainly ain't. If your house has been on the market for 7 months and you have to keep reducing the price, and it's now priced at less than others in the street that sold recently, then the press can keep telling me the housing market is back on the up, but I'm sorry, I DON'T BELIEVE THEM!

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The continuing saga of the house next door

As you can see from the attached link, I've been posting about the house next door to the house I sold at the start of the year.

After putting it on for £155k (about 2 months after ours had sold for £140k), it's been reduced, and reduced. It's now just been reduced to £129,950... which by my calculations is a £25k drop from the original asking price and £10k less than we actually sold ours for.

As far as I can see, the figures being spouted by the press may make it all look rosy in the housing market, but the news on the street is, it certainly ain't. If your house has been on the market for 7 months and you have to keep reducing the price, and it's now priced at less than others in the street that sold recently, then the press can keep telling me the housing market is back on the up, but I'm sorry, I DON'T BELIEVE THEM!

Seeing my name up there in lights ...... well I just couldn't resist replying.

:P

And my reply ... No Comment ...... because I can't. Don't you see your anecdote means nothing to me, because I don't know the situation. I can't make a judgement as to whats going on in this particular case.

Your ONE anecdote means everything to you, but means nothing to the rest of us. I have my own anecdotes of higher prices. I even have anecdotes of proerties that didn't sell last year, have come back to the market this year and then sold at an even higher price.

So I'll stick to my belief that your anecdotes alone are meaningless.

Bye Bye, and have fun my desperate bears.

:lol:

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Well I took it to read WINNER !

Just remember it pays to be a winner, my little desperate bear.

:ph34r:

you're quite wrong in your assumption that I'm little, nor desperate....I am in fact 6'3" and about 16 stone. I also live in the same area as you (close to Harrogate actually)

If you're interested I would love to meet up and "discuss" our differences...

btw, have you also got 350k in the bank following successful STR at the peak ?

still feel like you're winning ? :P

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you're quite wrong in your assumption that I'm little, nor desperate....I am in fact 6'3" and about 16 stone. I also live in the same area as you (close to Harrogate actually)

If you're interested I would love to meet up and "discuss" our differences...

btw, have you also got 350k in the bank following successful STR at the peak ?

before he answers can i ask, are you male or female ?

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you're quite wrong in your assumption that I'm little, nor desperate....I am in fact 6'3" and about 16 stone. I also live in the same area as you (close to Harrogate actually)

If you're interested I would love to meet up and "discuss" our differences...

btw, have you also got 350k in the bank following successful STR at the peak ?

still feel like you're winning ? :P

Oh dear.

I've got large feet. Probably the largest feet on this forum.

And yes, I've got a bigger STR fund, and I'm taller. Probably better looking too. And considerably more intelligent.

You must be a bit overweight if you're 16 stone. Have you thought about a decent exercise routine? Plyometrics will do wonders for your thighs and heart.

Perhaps you also might try hanging a weight from your *****.

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Oh dear.

I've got large feet. Probably the largest feet on this forum.

And yes, I've got a bigger STR fund, and I'm taller. Probably better looking too. And considerably more intelligent.

You must be a bit overweight if you're 16 stone. Have you thought about a decent exercise routine? Plyometrics will do wonders for your thighs and heart.

Perhaps you also might try hanging a weight from your *****.

:lol: Worked for you did it?

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you're quite wrong in your assumption that I'm little, nor desperate....I am in fact 6'3" and about 16 stone. I also live in the same area as you (close to Harrogate actually)

If you're interested I would love to meet up and "discuss" our differences...

btw, have you also got 350k in the bank following successful STR at the peak ?

still feel like you're winning ? :P

As Chubby Brown would say .. u fat b'stard :lol: Only joking !

Besides I'm 5'8" and 12 stones, so the fight wouldn't last long. I'll tell you what, we'll meet up and I'll buy the beer when we see 3 x 1% falls in house prices in any 3 out of 6 months. That seems pretty generous terms to me.

.......... and BTW my wad is bigger than yours !

(but thats the last I'll mention about that kind of stuff because talking money is just so vulgar!)

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Your ONE anecdote means everything to you, but means nothing to the rest of us.

This is just one anecdote of quite a few I've posted about. How about another house in the area, that was gradually reduced from 268K to 205K, or the 3 million house that had 250k lopped off it, or the one for £435k that had 50k knocked off it... I could go on and on as I've being closely monitoring my local housing market for the last 8 months and all the signs are that houses aren't going up in price, and lots aren't selling.

People will bury their head in the sand and shout out loud that prices are going up, they may well be where you live (perhaps you're in a house price bubble all of it's own), but I was simply pointing out the facts in the area that I live and know well. A valid counter argument to a post regarding "rising" house prices in Yorkshire.

I'm not making these prices up for effect, it's what's happening around here. Visit www.houses.vg (the EA who's most in touch with our local market) and look how many properties have 'reduced' written over them, and as far as I know, 'reduced' means that the price has gone down.

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The continuing saga of the house next door

As you can see from the attached link, I've been posting about the house next door to the house I sold at the start of the year.

After putting it on for £155k (about 2 months after ours had sold for £140k), it's been reduced, and reduced. It's now just been reduced to £129,950... which by my calculations is a £25k drop from the original asking price and £10k less than we actually sold ours for.

As far as I can see, the figures being spouted by the press may make it all look rosy in the housing market, but the news on the street is, it certainly ain't. If your house has been on the market for 7 months and you have to keep reducing the price, and it's now priced at less than others in the street that sold recently, then the press can keep telling me the housing market is back on the up, but I'm sorry, I DON'T BELIEVE THEM!

PulpFriction

Do you have a link to the house in question?

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As Chubby Brown would say .. u fat b'stard :lol: Only joking !

Besides I'm 5'8" and 12 stones, so the fight wouldn't last long. I'll tell you what, we'll meet up and I'll buy the beer when we see 3 x 1% falls in house prices in any 3 out of 6 months. That seems pretty generous terms to me.

.......... and BTW my wad is bigger than yours !

(but thats the last I'll mention about that kind of stuff because talking money is just so vulgar!)

I'd love to know how tall you all are. I'm only 5ft 8in

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This is just one anecdote of quite a few I've posted about. How about another house in the area, that was gradually reduced from 268K to 205K, or the 3 million house that had 250k lopped off it, or the one for £435k that had 50k knocked off it... I could go on and on as I've being closely monitoring my local housing market for the last 8 months and all the signs are that houses aren't going up in price, and lots aren't selling.

People will bury their head in the sand and shout out loud that prices are going up, they may well be where you live (perhaps you're in a house price bubble all of it's own), but I was simply pointing out the facts in the area that I live and know well. A valid counter argument to a post regarding "rising" house prices in Yorkshire.

I'm not making these prices up for effect, it's what's happening around here. Visit www.houses.vg (the EA who's most in touch with our local market) and look how many properties have 'reduced' written over them, and as far as I know, 'reduced' means that the price has gone down.

The fact that the asking price has reduced is not the same thing as the price achieved falling.

I have posted this before, but as I can't use the search facility, I will post it again.

If you getan EA to set asking price, he will most likely look uo last price paid. He will then give you 3 options - quick sale - price at 5% over last price paid, Normal - last price plus 10% and then the "cheeky" option which is last price plus 20% - this will in many cases be the price chosen by vendor to ask. So Asking price = LP+20% = 120%

After say 12 months, mnothing happens - so he drops his price by 10% - so his new asking price is 108% of last price paid.

The vendor accepts say 5% below asking - which is a selling price of 102.6% of last price - an increase of 2.6% on last price paid.

So what I am trying to say is - don't confuse a reduction in asking price with a drop YOY.

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If you getan EA to set asking price, he will most likely look uo last price paid. He will then give you 3 options - quick sale - price at 5% over last price paid, Normal - last price plus 10% and then the "cheeky" option which is last price plus 20% - this will in many cases be the price chosen by vendor to ask. So Asking price = LP+20% = 120%

Are you suggesting EAs are rascals ? :o

So that means you have to offer 40% less than asking to obtain the correct price. :D

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If you getan EA to set asking price, he will most likely look uo last price paid. He will then give you 3 options - quick sale - price at 5% over last price paid, Normal - last price plus 10% and then the "cheeky" option which is last price plus 20% - this will in many cases be the price chosen by vendor to ask. So Asking price = LP+20% = 120%

??????????? puzzled. If you ask an EA to value your property and it was last sold say 5 years ago - firstly he won't be able to look up the last price paid because I don't think it is available and secondly - what would be the point? It's about the local market and prices being achieved by similar properties. Whenever I have sold a house the EAs turn up with a folder full of details of similar properties and they use these prices as the starting point for their valuation. If an EA said to me - right this house sold for 200k five years ago so I reckon it is worth 200k plus some magic percentage - I'd kick him out.

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This is just one anecdote of quite a few I've posted about. How about another house in the area, that was gradually reduced from 268K to 205K, or the 3 million house that had 250k lopped off it, or the one for £435k that had 50k knocked off it... I could go on and on as I've being closely monitoring my local housing market for the last 8 months and all the signs are that houses aren't going up in price, and lots aren't selling.

Couldn't of said it better myself, this is exactly the same situation we have up here in Liverpool. Infact the only time in the last 6 months have I seen a property go up in price, was when they changed agents. Which goes to show certain EA's complete lack of knowledge regarding the current state of the market. Although it is quite possible they are aware, but the sellers greed takes priority which I think is the major factor at the moment. Its the battle between greed and reality, greed thinks it has the upper hand but reality has the legs and can happily let greed tire itself out.

How long will this take?

Well you won't have to wait long, cus for many its already started and you can bet Reality will bite hard next year.

Edited by Nem

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Your ONE anecdote means everything to you, but means nothing to the rest of us. I have my own anecdotes of higher prices. I even have anecdotes of proerties that didn't sell last year, have come back to the market this year and then sold at an even higher price.

So I'll stick to my belief that your anecdotes alone are meaningless.

Bye Bye, and have fun my desperate bears.

:lol:

You haven't just bought a house have you? Kind of sounds like it!

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" I have my own anecdotes of higher prices. I even have anecdotes of proerties that didn't sell last year, have come back to the market this year and then sold at an even higher price."

Well come on then don't be shy. Put 'em up. As we are in the same area it would be nice to know which property hotspots I should look out for.

The Fox

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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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