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mercenarul

Anecdote: I Am Bearish And Expect To Lose On My House, But....

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Just seen a house identical to mine, in the same street come on the market at £229K. It is a faled BTL getting out.

He bought it for £157K 1.5 years ago and renovated to luxuary BTL (cheapest laminate you can find + magnolia paint) standard, tried to let it and eventually did but at a very reduced rent on what he initially wanted. I think he still has tennants in it though.

Now he is trying his luck at selling, which I will follow with interest as I am not really sure how accurate the EA valuation was. I would give it £190K max.

I bought mine for £165K in feb. Mine was in better condition than his, but I still have a lot of renovation to do. I expected mine to drop a bit over the next few years, but looks like the oposite has happened.

Now, I know I am a genius and savvy businessman but please don't all rush to congratulate me at once for pulling off this highly lucritive deal. :P

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Just seen a house identical to mine, in the same street come on the market at £229K. It is a faled BTL getting out.

He bought it for £157K 1.5 years ago and renovated to luxuary BTL (cheapest laminate you can find + magnolia paint) standard, tried to let it and eventually did but at a very reduced rent on what he initially wanted. I think he still has tennants in it though.

Now he is trying his luck at selling, which I will follow with interest as I am not really sure how accurate the EA valuation was. I would give it £190K max.

I bought mine for £165K in feb. Mine was in better condition than his, but I still have a lot of renovation to do. I expected mine to drop a bit over the next few years, but looks like the oposite has happened.

Now, I know I am a genius and savvy businessman but please don't all rush to congratulate me at once for pulling off this highly lucritive deal. :P

SELL, SELL, SELL.

take your profit and run. :P;)

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I bought mine for £165K in feb. Mine was in better condition than his, but I still have a lot of renovation to do. I expected mine to drop a bit over the next few years, but looks like the oposite has happened.

The 'next few years' has not happened yet but if you have one of those cool machines that stop time you can enjoy your paper profits.

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Here's an example from my neck of the woods.

House (A) in the street next door sold in March '06 for £249,500. An identical one (B) sold for £290,00 in March '07 - 16.2% increase in a year.

House (A) has just sold again in July '07 for £319,995 - 10.3% increase since March '07 or 28.3% since March '06.

I think I might STR if this keeps on :unsure:

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Here's an example from my neck of the woods.

House (A) in the street next door sold in March '06 for £249,500. An identical one (B) sold for £290,00 in March '07 - 16.2% increase in a year.

House (A) has just sold again in July '07 for £319,995 - 10.3% increase since March '07 or 28.3% since March '06.

I think I might STR if this keeps on :unsure:

Whereabouts are you?

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