Felixstowe Docks in trouble?

Vinegartits

JonnyBravo wrote: »

Eh?

Have the pixies stolen your brain this morning mewbie?

How do make that 50k disappear?



You've still made that 50k.

It can only be considered to be "nothing" if general inflation has been (in your example) 50% also. Just because one class of investment has seen that inflation doesn't make it worthless.
(It may be that the improvements have been worthless but that is a very different scenario to the whole investment having made no money.)

I think what Mewbie is saying is that you may have made £50k but you'd be paying £50k more for the next property due to HPI. Now of course, with HPI in reverse, you will lose that £50k and all the previous gains taking you back to deposit zero.

mewbie_2

JonnyBravo wrote: »

Eh?

Have the pixies stolen your brain this morning mewbie?

How do make that 50k disappear?

Pickles was saying it was "doing up" that made the money. I am saying that possibly the "doing up" has nothing to do with it. If you just bought a property, and sat on it for three years, then sold it - HPI would be the cause of the profits - nothing else.

The property programmes never made this clear.

mewbie_2

fatpig wrote: »

Get a big skip and throw all the empty beer cans, disused prams, etc. in it before you try to find some mug to buy it.

Is that called "dressing for sale" - like House Doctor?

MissMoneypenny

pickles110564 wrote: »

Brook Lane bought for £125k in 1999 sold for £244k in feb 2002.
Bought in May 1998 says www.ourproperty.co.uk


Dellwood ave bought for £165k in feb 2002 sold for £287k in oct 2004.

Glenfield ave bought for £205k in oct 2004 sold for £374k in may 2007.

Brook lane other prices.
Number 17 (also a detached house) bought July 1996 for 126k.
Sold for 255k Nov 2001

Number 76 sold £294k in dec 2000
Number 41a sold £167k in mar 2002
Number 60 sold £246k in aug 2004
Rightmove average £198150.
Highest other seller was Number 53 sold in jul 2007 £420k
Dellwood ave other prices.
Number 25 sold £225k nov 2003.
All others sold since then were semi det.
[FONT=&quot]In 8 months, one of the semis made 40k. No.42, bought July 2003 for 125k, sold for 165k eight months later[/FONT]

Rightmove average price £174234.
Highest ever seller was mine.

Glenfield ave other prices.
[FONT=&quot]Num[/FONT][FONT=&quot]ber 12 (a semi, not a detached house like yours was) made 63k in 11 months. Registered bought 28th November 2006, registered sold 8 November 2007.

[/FONT]Number 25 sold 228K in 2006
Number 58 sold £175k in 2007
Rightmove average price £203968.
Highest other seller semi det £263k in nov 2007.

Mewbie,
You say it has all been down to HPI,

[FONT=&quot]There does seem to have been high house price rises in those areas in those days, to be fair.

[/FONT]

pickles110564 wrote: »

if so why are most other properties in the roads that sold did not get anywhere near my sold prices

Brook Lane – One detached sold 3 months before you sold yours, for more than you sold for. No detached has sold since you sold yours
Dellwood Avenue – No detached house has been sold since you sold yours.
Glenfield Avenue – Only one detached sold after you sold yours, for less than yours.

[FONT=&quot]

[/FONT]

Vinegartits

MissMoneypenny wrote: »

[FONT=&quot]There does seem to have been high house price rises in those areas in those days, to be fair. [/FONT]



Brook Lane – One detached sold 3 months before you sold yours, for more than you sold for. No detached has sold since you sold yours
Dellwood Avenue – No detached house has been sold since you sold yours.
Glenfield Avenue – Only one detached sold after you sold yours, for less than yours.

Excellent research Miss Moneypenny! If I might add a small detail, a quick visit to Suffolk Coastal planning website reveals that the last two properties were actually converted from bungalows into houses in a road of bungalows giving an even more unequal comparison.

pickles110564

Vinegartits wrote: »

If I might add a small detail, a quick visit to Suffolk Coastal planning website reveals that the last two properties were actually converted from bungalows into houses in a road of bungalows giving an even more unequal comparison.

Dear, Vinegartits
Before you start posting make sure you do your homework like missmoneypenny did.
In both those roads there are large houses.
I see you missed out the detail that on one of them all I did was a Loft conversion which most of the other bungalows already have done.
As I did the work myself it only cost me £5k.
On the other bungalow I had purpose built loft roof trusses made up, took the old roof off and added three bedrooms, a bathroom and an ensuite.

Vinegartits wrote:

I doubt it, you will make a serious loss on this one because you have added no value Pickles; call this a eureka moment but all you did was mess about for a few years in each property and move up to a bigger house/bigger debt courtesy of HPI. Congratulations.

I surpose adding a utility room and a two storey extension across the back wont add any value, I bow to your undoubted knowledge of the property market. Where was it you said you lived? Oh thats right still at home.

Right lets get back on topic.
You still do not answer any questions put to you and just carry on trying to change the subject.
Questions again.
What went wrong with your scare mongering post then?

pickles110564 wrote:

The Port is moving record volumes through Rail, it is attracting new business and winning work from its major competitors. (Antwerp & Southampton).
Overtime has been back for the last few weeks in all sections and volume is on a steady increase.
Confidence is starting to grow in the local community with houses being sold and some being snapped up as soon as they get posted.

pickles110564 wrote:

You stated as well that several local business's were going to wall, yet we have not seen the impending doom that you were posting.

Vinegartits wrote:

As far as I know, there are only two remaining and one of those has very few vacancies and I believe unlikely to survive. The two remaining are A&S and Reed. If anyone knows any more, please pm me.

These are still in business, you probably worried the staff for no reason here as well.

Vinegartits wrote:

Don't need anti-depressants, just put Pickles on ignore - I've finally found the way to low blood-pressure posting!

This could not have lasted long.

mewbie_2

pickles110564 wrote: »

all I did was a Loft conversion which most of the other bungalows already have done.
As I did the work myself it only cost me £5k.

C'mon, what sort of 'conversion' is that? I reckon about 40k for a 'proper' loft conversion in a bungalow.

One other thing. Why do people turn a bungalow, very desirable at a premium for old, retired and infirm people - into a chalet thing - which is hot in summer, cold in winter and as far as I can see has no redeeming features. Why do it?

You must have seen those programmes where people basically add no value, work all the hours they can, and end up with a profit that they could have earned by doing absolutely nothing? Are you sure that you're not telling porkies again?

Apologies to anyone desperate for the next instalment of Felixstowe Docks btw. I'm sure the next catalogue of half truths and inter alias banter will be resumed soon.

jetski690

mewbie wrote: »

C'mon, what sort of 'conversion' is that? I reckon about 40k for a 'proper' loft conversion in a bungalow.

One other thing. Why do people turn a bungalow, very desirable at a premium for old, retired and infirm people - into a chalet thing - which is hot in summer, cold in winter and as far as I can see has no redeeming features. Why do it?

You must have seen those programmes where people basically add no value, work all the hours they can, and end up with a profit that they could have earned by doing absolutely nothing? Are you sure that you're not telling porkies again?

Apologies to anyone desperate for the next instalment of Felixstowe Docks btw. I'm sure the next catalogue of half truths and inter alias banter will be resumed soon.

Sorry mewbie but I don't totally agree with that, In 2001 we took on a 2 bed bungalow and extended it, totally gutted the original part and did a loft conversion for the sum of £40,000. Yes I did do a lot of the work myself but still used the skilled trades where needs be and even put underfloor central heating in the whole of the place. The property had been on and off the market for the best part of a year and was too run down for any elderly people to take on but as I see it I turned that into a substantial family home releasing my last property to another family. Also with a bungalow you have much more of a plot and scope to play with.

lostinrates

mewbie wrote: »

One other thing. Why do people turn a bungalow, very desirable at a premium for old, retired and infirm people - into a chalet thing - which is hot in summer, cold in winter and as far as I can see has no redeeming features. Why do it?

Talking to my parents about their dream granny annexe/bunglow they'dlike a bedroom each. They'll lso, at some pointprobably need somewhere to put a ''carer'' f somedescription. Loft space, converrted obviously, seems sensible use of space, and the live-in would get considerable relief from being able to have someprivate space I imagine.

Vinegartits

pickles110564 wrote: »

Dear, Vinegartits
Before you start posting make sure you do your homework like missmoneypenny did.
In both those roads there are large houses.

But none have been sold in the last 10 years

I see you missed out the detail that on one of them all I did was a Loft conversion which most of the other bungalows already have done.
As I did the work myself it only cost me £5k.

As Mewbie said above, not only is that not believable but you talk about renovating this particular bungalow QED total costs would have to be more than £5k.

On the other bungalow I had purpose built loft roof trusses made up, took the old roof off and added three bedrooms, a bathroom and an ensuite.

Exactly, you spent, what, £100k on it? Sold it after 3 years for £170k more than you bought it for, take off fees and mortgage payments, the rest is HPI, proves my original point - your "improvements" added no value beyond what you spent on the place and were a waste of time, you could have just kept the place for 3 years and sold it on and saved yourself the effort. I also ask myself, if you had made such a collossal profit on all these properties, why are you driving an ancient beat-up car you cannot afford to fix? I think therien lies the truth!

I surpose adding a utility room and a two storey extension across the back wont add any value, I bow to your undoubted knowledge of the property market. Where was it you said you lived? Oh thats right still at home.

Can you lift the discussion just marginally above playground level?

Right lets get back on topic.
You still do not answer any questions put to you and just carry on trying to change the subject.
Questions again.
What went wrong with your scare mongering post then?

Nothing, I reported what was happing as it was happening - the docks laid off 200 staff and closed Trinity terminal just as I posted. Businesses and shops in the town have closed as I reported and a number of businesses dependent on the docks have also closed again as I posted. You have lost your bonuses and been forced to take unpaid leave - I would say everything I reported was spot on.

These are still in business, you probably worried the staff for no reason here as well.

Ah, the recruitment issue. I suggest you pop in and see how many staff are still there and how many have found other jobs and while you're there ask them how many of the jobs they have advertised are real as most of them have been on offer since before Christmas which I find hard to believe in the current economic climate.

This could not have lasted long.

Agreed, and I am regretting taking you off ignore as you seem to be displacing your fear about your own situation onto me. Pickles, I cannot save your job or fix your misguided property investments - constantly arguing that I got it wrong about Felixstowe in the face of overwhelming evidence to the contrary makes you look stupid and answering you, with what I earn an hour, is a waste of my resources so regrettably, I shall have to put you on ignore again, mainly for your own good. Perhaps then you will be able to better deal with your problems.[/QUOTE]