True Value OF YOUR PROPERTY!!!!

TEDDYRUKSPIN

I love the sarcasm and arrogance in this forum. Woo hoo.

Word or no word! Take this as a guide! Too many people have yet to wake up!

I had a customer come in who brought his detached property for £300k. The customer spent £50k on improving the property. The person's perceived valuation was £420k. Ha..... Survey came back at £320k. All I can say welcome to the true world! I asked the person what they did? Kitchen. I small bit of extension to the kitchen and more.

The economy has hit it's saturaton point way back in April 2008. This will continue until 2010.

Just wake up!!!

The guide is actually quite accurate. The reason being the amount of mortgages I am putting through and the survey's coming back back from the lenders!

Gorgeous george. Most of the words are mis-spelled. I am surely not going to use a dictionary for this post. Besides! MR George. Ya definitely not gorgeous! HAAA!!

hughmungas1986

Isn't your property worth whatever someone pays for it ???

Valuations mean nothing, how many proprties actually sell for the valuations given by an estate agent ???

Gorgeous_George

It really doesn't matter.

Put it up for sale at a price that people cannot or will not pay and it will not sell. Sellers know that. Some however, would rather NOT sell than lower the price to more sellable prices. There is a small chance that some clown will come along and pay yesterday's price.

Some sellers cannot lower the price to more realistic levels. Doing so would leave many people in negative equity. They have to hope that the clown looks at their house.

There are less clowns these days.

People who owe £150K cannot sell for £140K. The banks won't allow it. Instead, they will let their property out and hope the silly days return. Then they can find their clown.

GG

*jobags*

I remember in the last crash (1989) we viewed a property on at £62,000

We offered £60,000 and it was refused as they wanted the asking price - we walked away

3 months later it was still on the market but at £49,000.

It's true - your house is only worth what someone is willing to pay for it

Jo

Jonbvn

It is very difficult to take someone who claims to be FA seriously when they "invent" words such as valuate. It makes you look like a bored skoolkid!

Locoblade

I agree with GG, if you add a kitchen making something sellable/saleable, then by definition it was unsellable at the asking price beforehand so would either not have sold, or would have required a price drop to sell - therefore the kitchen has categorically added value. What I think probably is correct though is that we're no longer in a situation whereby you spend £5k on a kitchen and slap some paint on the walls to add £10k to the asking price of the house, ie its no longer a given that you'll recoup your investment and more simply by sprucing the place up.

Out of interest though, if you're an IFA then why no obligatory IFA disclaimer at the bottom of your posts?

Cherrytree

Probably really going to regret posting this, but I have, so ho-hum.

Please don't kill me!! just felt the need to have a pedantic moment.
(grabs coat and runs out of the door)

Resource used: was a website called wordreference.com

val⋅u⋅ate
 /ˈvælyuˌeɪt/ Show Spelled Pronunciation B]val[/B][FONT=Lucida Sans Unicode]-yoo-eyt[/FONT Show IPA Pronunciation
–verb (used with object), -at⋅ed, -at⋅ing. to set a value on; appraise.
Origin:
1870–75; back formation from valuation

Gorgeous_George

I stand corrected (well, not really)

It certainly is not in the Oxford or Cambridge Dictionaries.

Maybe it's an Americanism

Still not a word I would want my FA to use.

GG

TEDDYRUKSPIN

Gorgeous George!! Ha..........

Sorry.... But Ha...... GG BB GG BBB.

Do you look like your AVATAR?

uzubairu

Cherrytree wrote: »

Probably really going to regret posting this, but I have, so ho-hum.

Please don't kill me!! just felt the need to have a pedantic moment.
(grabs coat and runs out of the door)

Resource used: was a website called wordreference.com

val⋅u⋅ate
 /ˈvælyuˌeɪt/ Show Spelled Pronunciation B]val[/B][FONT=Lucida Sans Unicode]-yoo-eyt[/FONT Show IPA Pronunciation
–verb (used with object), -at⋅ed, -at⋅ing. to set a value on; appraise.
Origin:
1870–75; back formation from valuation

I've just checked my Chambers Dictionary (reserved for times when the pedant in me takes over).

Valuate is a word with the meaning as stated above, with US origins.