'50% drops'

Cleaver

would_be_FTB wrote: »

No but I was possibly a bit too wound up myself when I heard about Britain bailing out greedy Icesave account holders. But I have just seen that UK will sue Iceland, so it probably won't cost any extra for the first 20,000 Euros?

I do think it is wrong that those investors did not support a British bank, they were just being greedy.

By that do you mean a British bank that is based in Britain and only invests / deals in Britain? If so, can you name one?

Cleaver

!!!!!!? wrote: »

Fee Fi Fo Fum, I smell the blood of a trolling bum.

Well, his / her line about charities was genius whether it was serious or not.

Ron2256

chucky wrote: »

not sure what you're trying to prove here but makes no sense whatsoever.

one is a two bed and the other is a three bed property
the 2 bed is 1333sq feet and the 3 bed is 1498sq feet - price per sq foot very important in Central London.
one is on the Kings Road and the other is on Beaufort Street - two totally different streets which would have totally different pricing factors.

comparing two random properties that you find on Rightmove isn't really great and not accurate.

there are two many armchair economists and property experts on here unfortunately. there are some that have never left Stockport and are experts on Central London!!!

Cannon Fodder I'm not disputing there are struggling LL's out there, just don't agree with your examples. do yourself a bit more research please...

I think you need to install property bee.
This is the first property history:

11 September 2008

• Price changed: from '£1,050,000' to '£995,000'

30 August 2008

• Status changed: from 'Under offer' to 'Available'

01 August 2008

• Status changed: from 'Available' to 'Under offer'

24 June 2008

• Price changed: from '£1,200,000' to '£1,050,000'

09 May 2008

• Price changed: from '£1,275,000' to '£1,200,000'

14 March 2008

• Initial entry found.

This is the second:
22 July 2008

• Price changed: from '£1,050,000' to '£950,000'

03 June 2008

• Price changed: from '£1,200,000' to '£1,050,000'

17 April 2008

• Initial entry found.

So, C F isn't trying to compare the two properties, just trying to show the drop. They are both very nice but still dropping in value.

symesd

Hi, not had chance to read every post but just wanted to put a little word in.

Is it not possible that the current or recent house prices are extremely over rated inflated prices which are far too high for the actual value of the property, the lucky people who are in a house which is highly overprices should thank their lucky stars that they are fortunate to live in an area where the prices of houses have gone up to these stupid prices and stop moaning, unfortunatly I live in an area where house prices are comparitively low and although I have gained from the huge inflation in house prices I feel it is about time the prices came down from the heavens and back to what they should be, after all the houses are only bricks and stuff, just because they are in "london" of "bath" or someother such super posh place shouldnt make them "worth" more than an equivelant sized house elsewhere in the country.

People with money simply do not think about those without. Some of those without are just as hard working if not more hard working, they just happen to live in a less trendy area.

It has become ridiculous - the average uk income £25k, the average detatched house £260k, you work it out the standard income multiples for a mortgage would not give the "average" income person any chance of getting a mortgage to buy a house.

I have an above average income and a family of 3 children & a husband & dog. We are living in a 2 bed bungalow which is in need of total refurbishment, its all we could afford 4 years ago when prices started getting ridiculous, be its bigger than the 2 bed terrace we came from.....

Now we cannot move to a bigger house, which we seen simple for extra space to live. Our house is now worth less than we paid for it.......

It is a complete farse...

Don't you think.

chucky

hi sysmed - i'm sorry to hear about the house that you live in being worth less than you bought it for but don't forget the value of the property is only realised when you sell it. currently it seems that you don't need to sell it, so don't worry about that part.

your comments about parts of the country being worth more than others is something that can never be avoided unfortunately. this will even happen to different houses in the same street even due to their aspect.

there are factors that contribute to house prices that people are willing to pay for: school catchment areas, local amenities, crime statistics, location of train or tube stations or the train line they are near; etc. etc, we could go on for ever with these.

this is a major factor that has contributed to this housing bubble - unfortunately people see these things and just want them and they are convenient and to an extent do make sense. the question to ask is what is their value?

this is why that some areas are more valuable than others. not saying that i agree or disagree but this is what needs to be looked at when you look to buy or even sell property.

symesd

chucky wrote: »

hi sysmed - i'm sorry to hear about the house that you live in being worth less than you bought it for but don't forget the value of the property is only realised when you sell it. currently it seems that you don't need to sell it, so don't worry about that part.

your comments about parts of the country being worth more than others is something that can never be avoided unfortunately. this will even happen to different houses in the same street even due to their aspect.

there are factors that contribute to house prices that people are willing to pay for: school catchment areas, local amenities, crime statistics, location of train or tube stations or the train line they are near; etc. etc, we could go on for ever with these.

this is a major factor that has contributed to this housing bubble - unfortunately people see these things and just want them and they are convenient and to an extent do make sense. the question to ask is what is their value?

this is why that some areas are more valuable than others. not saying that i agree or disagree but this is what needs to be looked at when you look to buy or even sell property.

I think your response to be a bit patronising.... I do need to sell, this house is falling down, I cannot fix it up as I Cannot get loans secured on it to make the improvements, I can afford to buy a perfect house that will be a perfect size in perfect condition. BUT as my house is now "worthless" I cannot sell so cannot but a house which my family desperatly needs for our health, this house in unhealthy with damp and dangerous wiring.

If the Banks and "Property Investors" had not been so greedy, giving mortgages to people who could not pay them back, lending greater on greater income multiples we would not be in this state.

I understand what makes a propertie value - I used to work in the mortgage industry I left it as I did not agree with the way banks do business. I was unemployed for 2 years because of my principles & family commitments, I had a large amount of equity (40%) in my house when I bought it, this has been wiped out because of greedy people.

I just want to give my family a comfortable home to grow up in..... Not make gross amounts of profit.

What has happened to the housing market is wrong & should never have been aloud to have got so out of control.

Think about it how can a property with 1 bedroom be worth over £500k in 1 part of the uk and £60k in another - come on this is just wrong. What is even more wrong is that someone is stupid enough to pay that amount.

I've gone on enough now.....

chucky

i apologise if it came across patronising.

i'm sorry to here about your problems, i hope that they get resolved.

apologies again, hope that you have a nice weekend.

symesd

chucky wrote: »

i apologise if it came across patronising.

i'm sorry to here about your problems, i hope that they get resolved.

apologies again, hope that you have a nice weekend.

apology accepted. thank you and I hope you have a good weekend too,

it not all about money,,

some of us just want a nice place to live, to be comfortable, as usual it's the selfish few (banks, property investors, those out to make money for what ever reason) who spoil it for the rest of us.

how much money does one person need, its about being sensible, yes we all like a little luxury, mus most of us would just like to be able to have the basics....:rolleyes:

Cannon_Fodder

Cannon_Fodder wrote: »

I think everyone would agree this;

http://www.rightmove.co.uk/viewdetails-16262797.rsp?pa_n=2&tr_t=buy

...is a "nice" property. And some.

Dropped by £3M...rubbish EA mis-valued it, or the market changing?


(I though all the Russian oligarchs (or is that gas/oilgarchs ?!) were snapping up the top end? Maybe this is too cheap, now, to be considered.)

Down another £2M...isn't this shift in affordability just wonderful...?!
http://www.rightmove.co.uk/viewdetails-16262797.rsp?pa_n=2&tr_t=buy


History

dateevent23 October 2008

• Price changed: from '£12,500,000' to '£10,500,000' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

20 July 2008

• Price changed: from 'POA' to '£12,500,000' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

06 June 2008

• Price changed: from '£12,500,000' to 'POA' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

02 May 2008

• Price changed: from '£15,500,000' to '£12,500,000' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

06 January 2008

• Initial entry found. [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

neverdespairgirl

a third off, wow!

Let me whip out my wallet....