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Muskoka

How Can This Be?

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I sold a house in Aug 05 for 171K. It came back on the market last week for 205K & has SSTC. Little 2 bed end terrace - no parking, but in a lovely spot. It took me a year to sell it!!

It was immaculate when I sold it. All the vendors have done is replace expensive plain beige lounge carpet with laminate flooring (yuk) and painted the kitchen

I thought nobody had any money & couldnt get a mortgage? I;m stunned its sold within a week..............

I know stacks of properties are selling and returning to the market,but are BTL'ers buying up now, or is there mortgages out there for first time buyers?

Having avidly following this site for sometime, I am well confused..... :unsure:

Edited by Muskoka

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I sold a house in Aug 05 for 171K. It came back on the market last week for 205K & has SSTC. Little 2 bed end terrace - no parking, but in a lovely spot. It took me a year to sell it!!

It was immaculate when I sold it. All the vendors have done is replace expensive plain beige lounge carpet with laminate flooring (yuk) and painted the kitchen

I thought nobody had any money & couldnt get a mortgage? I;m stunned its sold within a week..............

I know stacks of properties are selling and returning to the market,but are BTL'ers buying up now, or is there mortgages out there for first time buyers?

Having avidly following this site for sometime, I am well confused..... :unsure:

New people are always looking to get on the property ladder and, although the property market is slow now, there are still buyers out there. It is the buyers who are dictating the prices now, not the sellers. I don't imagine there were many people viewing, but you only need 1 interested buyer to conclude a sale! You say the area is good there, so that is maybe why somebody snapped it up. I'd be surprised if it went for full asking price though - most places go for around 96% of the advertised price. It's worth putting the postcode into houseprices.co.uk as an email search - the website will send you a monthly summary of prices around that postcode. The only problem is about a 3 month delay from completion to the land registry updating the information on their site. You will then learn the actual price that somebody paid for the house.

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And you should keep following the agency's web site in case it should suddenly become available again.

Having said that, some people who are looking to move to their dream home where they will be staying for many years, or maybe retiring to, will not be too concerned will drops in prices if it finally means getting the home they have always wanted.

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And you should keep following the agency's web site in case it should suddenly become available again.

Good point. As the market dries up agents will become less scrupulous about what SSTC means. I have seen 4 houses local to myself move from 'Reserved' to 'For sale' in the past week.

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Good point. As the market dries up agents will become less scrupulous about what SSTC means. I have seen 4 houses local to myself move from 'Reserved' to 'For sale' in the past week.

I will be watching it. I had shortlisted it maybe??? to buy back myself when the price dropped.

I also had shortlisted two other properties:- one of which is only a 3 bed end terrace sold for 190K Dec 06, resold at auction July 07 for 242K & on market for 300K & its sold! (for the second time so far at this price).

I also have my eye on a third property - up for 300K for over 6 months. Offered 250K they declined. Had no other offers though, so just have to see what develops.

Playing a waiting game, same as most of us, wether I can be patient enough though....maybe, maybe, maybe

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  • 297 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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