Jump to content
House Price Crash Forum
Sign in to follow this  
2005

Ouch!

Recommended Posts

I can see the problem, there's no laminate flooring in the kitchen.

Also the walls don't look a true magnolia, today's buyers are very discerning, don't you know.

Maybe if they threw in a free car as well?

Jeez this is going to be one hell of a year... :D:D:D

Share this post


Link to post
Share on other sites

I can see the problem, there's no laminate flooring in the kitchen.

Also the walls don't look a true magnolia, today's buyers are very discerning, don't you know.

Maybe if they threw in a free car as well?

Jeez this is going to be one hell of a year... :D:D:D

are they not in it for the long-term then?

i suspect more than a few people will start to realise what 'long-term'actually means

Edited by the end is nigh

Share this post


Link to post
Share on other sites

SOLD 2004

03/02/2004 £137,000 Flat L/H Map Summer Court, 7, Firs Way, Sale, Greater Manchester, M33 4FZ

http://www.houseprices.co.uk/e.php?q=summer+court+sale

ASKING PRICE 2006

£99,950

http://www.rightmove.co.uk/viewdetails-104...pa_n=1&tr_t=buy

still not sold

I think that Manchester will be one of the epicentres of this crash. Huge, huge price rises with ridiculous fundamentals. When the crash really gets going, even you won't be able to buy because you'll be too frightened.

Share this post


Link to post
Share on other sites

I can see the problem, there's no laminate flooring in the kitchen.

And there's two kitchens that look exactly the same, maybe this is a new style of bedroom? Very useful if you've got the munchies after hopping on the good foot and doing the bad thing B)

Edited by BuyingBear

Share this post


Link to post
Share on other sites

As you can see from below, there is a big difference in price for this block.

Therefore probably not ouch at all, maybe its a smaller flat than the others.

1 16/05/2005 £105,000 Flat L/H Map Summer Court, 6, Firs Way, Sale, Greater Manchester, M33 4FZ

2 07/04/2005 £155,000 Flat L/H Map 101 Summer Court, 14 Apartment, Firs Way, Sale, Greater Manchester, M33 4SU

3 30/11/2004 £105,000 Flat L/H Map 101 Summer Court, 11 Apartment, Firs Way, Sale, Greater Manchester, M33 4SU

4 28/09/2004 £100,000 Flat L/H Map 101 Summer Court, 14 Apartment, Firs Way, Sale, Greater Manchester, M33 4SU

5 02/07/2004 £93,500 Flat L/H Map Summer Court, 1, Firs Way, Sale, Greater Manchester, M33 4FZ

6 13/05/2004 £90,000 Flat L/H Map 101 Summer Court, 11 Apartment, Firs Way, Sale, Greater Manchester, M33 4SU

7 30/04/2004 £12,600 Flat F/H Map Summer Court, 8, Firs Way, Sale, Greater Manchester, M33 4FZ

8 16/04/2004 £91,500 Flat L/H Map Summer Court, 17, Firs Way, Sale, Greater Manchester, M33 4FZ

9 07/04/2004 £88,000 Flat L/H Map 101 Summer Court, 14 Apartment, Firs Way, Sale, Greater Manchester, M33 4SU

10 03/02/2004 £137,000 Flat L/H Map Summer Court, 7, Firs Way, Sale, Greater Manchester, M33 4FZ

Share this post


Link to post
Share on other sites

I think that Manchester will be one of the epicentres of this crash. Huge, huge price rises with ridiculous fundamentals. When the crash really gets going, even you won't be able to buy because you'll be too frightened.

I keep thinking about those 450(??) reposessed(??) ex-IRA houses about to flood the market in Manchester - any news?

Share this post


Link to post
Share on other sites

As you can see from below, there is a big difference in price for this block.

Therefore probably not ouch at all, maybe its a smaller flat than the others. [laurejon]

Are you suggesting that this block has been renumbered?

'Summer Court, 101 Firsway, Sale':

http://www.rightmove.co.uk/viewdetails-10480691.rsp

£99,950

....

Flat 7 can be found on the first floor.

'7 Summer Court Sale':

http://www.houseprices.co.uk/e.php?q=7+summer+court+Sale

  1. 03/02/2004 £137,000
  2. 01/08/2003 £94,200

= 27% fall from February 2004..

Share this post


Link to post
Share on other sites

What everybody is missing here is -

Firsway 'wraps round' the Racecourse estate, a Manchester dumping ground overspill estate built in the 1970's -

http://*******.com/7q4nn

Want some 'gear'? Try the Racecourse.

Car gone missing? Try the Racecourse

A rising tide lifts all boats. The Racecourse was no exception.

When times get tough, the worst areas suffer first/ most.

What you see here is typical of this type of area in this type of market, not the market as a whole.

HTH

[edit]14 29/08/2003 £38,200 Flat L/H Map Summer Court, 10, Firs Way, Sale, Greater Manchester, M33 4FZ

That's more realistic. Probably an auction sale. Ideal DSS prop.

Know Your Market. :blink:

[/edit]

Edited by JohnG

Share this post


Link to post
Share on other sites

are they not in it for the long-term then?

i suspect more than a few people will start to realise what 'long-term'actually means

From what I've seen in the past (and I've been one of them in the past), "long-term" amateur investors are in it for the long term through the first part of any crash. Then there's a bounce and they get their hopes back up and often buy more. Then it goes down again and that's when they get worried and sell.

A lot of "long term" stock investors were selling in 2002-03 according to the fund managers. And then the market went up...

So with the HPC the long-termers are likely to be selling when we approach the bottom IMO. That's what causes the final plunge in a crash. They do the exact opposite when the market is going up with the big purchases on borrowed money being made in the dying days of the boom. Go and find some historical charts using google for gold, stock market etc and you'll see exactly what I mean. A big surge / plunge before the top/bottom when the amateurs are buying/selling as the professionals do the exact opposite.

I'll put it this way. When an amateur BTL buys their properties, SOMEONE is selling. SOMEONE has been getting out of the market so that the BTL brigade could get in. Do you think that was the masses watching "property always goes up" TV? Or do you think it was the "smart money" professionals? SOMEONE was selling and my money's on the latter.

Share this post


Link to post
Share on other sites

Update -- June 2006.

Flat 7, Summer Court went "Sold STC" back in January when advertised at £94,950, but has yet to appear in the Land Registry database. It's still being shown as "Sold STC" by Rightmove:

http://www.rightmove.co.uk/viewdetails-10480691.rsp

However, Flat 5 has recently appeared in the database having been sold for a reported £83,000 -- a £2,250 fall from its new price in July 2003. No price rises there then.

'5 Summer Court Sale':

http://www.houseprices.co.uk/e.php?q=5+Summer+Court+Sale

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.