Cornwall Sceptic Posted April 24, 2006 Share Posted April 24, 2006 Whilst looking for some info on Birmingham City prices I came across this place http://www.rightmove.co.uk/viewdetails-643...a_n=11&tr_t=buy They paid £225k for it in Oct 2003 (see link below) http://www.houseprices.co.uk/e.php?q=146+Centenary+Plaza It is obviously a reposession but look at the figures Paid £225k in 2003 if it sells for £155k then it would be a 31% loss, for £175k a 22% loss - add onto that £10k behind on motgage payments plus solictors and EA's and court fees another £5k at least, leaving the owners with an £85k debt if they haven't gone bankrupt already - hows that for affordability (lots of bulls have been boasting about affordability not being a problem on other threads) If you add on HPI - using rightmoves figures - the place should now be worth £269k (average for the West Midlands over the 2.5 years) that would make a loss in real terms of 42% or 35% depending upon what price it goes for This must be being repeated all over the country where large amounts of new build is taking place - views please CS Quote Link to comment Share on other sites More sharing options...
kman Posted April 30, 2006 Share Posted April 30, 2006 hate to party poop but I've monitored auctions, most stuff sells for well above guide, I expect thsi to go for 200+ Quote Link to comment Share on other sites More sharing options...
Cornwall Sceptic Posted April 30, 2006 Author Share Posted April 30, 2006 hate to party poop but I've monitored auctions, most stuff sells for well above guide, I expect thsi to go for 200+ Kman don't want to dispute your findings - some go for good money others don't I have saw some figures where Halfiax offloaded a lot of property some in Brum at very low prices - It will take me a while to find it but will post the links soon together with my thoughts of why it happened CS Quote Link to comment Share on other sites More sharing options...
kman Posted April 30, 2006 Share Posted April 30, 2006 Kman don't want to dispute your findings - some go for good money others don't I have saw some figures where Halfiax offloaded a lot of property some in Brum at very low prices - It will take me a while to find it but will post the links soon together with my thoughts of why it happened CS Ok please post when you have the evidence Quote Link to comment Share on other sites More sharing options...
Cornwall Sceptic Posted April 30, 2006 Author Share Posted April 30, 2006 Ok please post when you have the evidence Kman Found the post eventually http://www.housepricecrash.co.uk/forum/ind...t=entry360222 here is the auction site see lot 154 ( you may have to click on results for the 26th April Auction) http://www.housepricecrash.co.uk/forum/ind...t=entry360222 Look at original sale price http://www.houseprices.co.uk/e.php?q=219+B...2C+B16+8EQ&n=10 Huge loss taken by Halifax who had about 70 lots in the auction - there were others - but nothing as bad as this - it is possible that the Halifax's exposure was limited as the buyer paid a large deposit but taking into consideration the type of property this is unlikely The original post highlighted a 100k loss on a North london property I know the address is slighlty different but I can't see thsi isn't the same place Hope this is interesting CS Quote Link to comment Share on other sites More sharing options...
Cornwall Sceptic Posted April 30, 2006 Author Share Posted April 30, 2006 Ok please post when you have the evidence Something else I saw tonight http://www.timesonline.co.uk/newspaper/0,,...53073_2,00.html see page 2 near the end CS Quote Link to comment Share on other sites More sharing options...
kman Posted May 1, 2006 Share Posted May 1, 2006 Good info. Look at lot 153, sold for 330k in 2004, auctioned off for 177k wow¬! Quote Link to comment Share on other sites More sharing options...
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