In a state of shock!

drc

Well done. Glad your sale went smoothly and hope you find the property of your dreams!

pawpurrs

Well done you that was sooooooo Lucky!!

Cannon_Fodder

23% off peak - seems very sensible pricing in view of the Stamp duty "hurdle", and the buyers know they have maybe a 5% cushion for future prices drops (iirc Haliwide is around 20%, and LR is 16.7%, although obviously the specific regional figures may vary from that)

Demonstrates a good deal for both parties.

As long as Willowcat gets the same deal on their own purchase - or maybe even better by the time the long-distance move takes place - then that's a perfect illustration of why the market will not completely stagnate, despite very low volumes, and turnover like this will reinforce the reality for WC's neighbours when they come to sell/price.

WillowCat

Cannon_Fodder wrote: »

As long as Willowcat gets the same deal on their own purchase - or maybe even better by the time the long-distance move takes place - then that's a perfect illustration of why the market will not completely stagnate, despite very low volumes, and turnover like this will reinforce the reality for WC's neighbours when they come to sell/price.

This may be my problem......I've only offered on one property so far, they had been on the market since July 2007, and have only come down by baby steps - approx 10% in total. I offered about 12% less than current asking but it was rejected without even a sniff of a counter offer.

I'm looking to buy in the SouthWest - I think the high prices are really entrenched there and there's a lot of vendors in denial.

Back to my own road though - since I went on the market two other bungalows have come on. One is a chalet and is 4 bed (mine's a three) but has a lot less ground and only a single garage. Currently "offers in excess of £300,000". The other one is a small 2 bed, again small garden and single garage - asking £275,000. They bought for, I think, £240,000 in 2006. :eek: Needless to say neither of them have gone under offer. I did however feel physically quite sick when I saw the smaller one come on the market, as it seemed to imply that I'd underpriced. Only time will tell what they actually sell for though.

Sir_Humphrey

Well done and congratulations. You have priced your house so as not to chase the market down.

handful

WillowCat wrote: »

I'm looking to buy in the SouthWest - I think the high prices are really entrenched there and there's a lot of vendors in denial.

Don't know what you're talking about. My house in Somerset was worth around £375k at the peak and I reckon the price has plummetted to around £374k now.

Well done btw.

skap7309

Cleaver wrote: »

I wouldn't come on here and post inflamatory things like that if I were you. Scores of people from this board will hunt you down and chase you around with their Gloom Sticks whilst quoting Nouriel Roubini at you.

Congrats on the sale.

Well, no. If it was priced correctly in the first place (which i am sure it was) then very well done to them. If only more people had that attitude then there would not be a house buying / selling issue.

posh*spice

Well Done op:T

Alan_M_2

scousethife wrote: »

325 to 250

is that 19% off?

Just a point of note....unless the house ever actually changed hands at this price it was never statistically noted.......it's just a notional value.

If the last time this house sold was 10 years ago and it was for £110,000, then it's increased in value by a large margin, but will never register as a drop.

This is were a lot of people obsession with historical statistics falls down....as nowhere, ever did this house lose money or drop in value (more importantly was it statistically reported as doing so), it simply increased....

WillowCat

Alan_M wrote: »

Just a point of note....unless the house ever actually changed hands at this price it was never statistically noted.......it's just a notional value.

If the last time this house sold was 10 years ago and it was for £110,000, then it's increased in value by a large margin, but will never register as a drop.

This is were a lot of people obsession with historical statistics falls down....as nowhere, ever did this house lose money or drop in value (more importantly was it statistically reported as doing so), it simply increased....

You're correct, it didn't change hands at peak value.

However, the percentage rise over the last 10 years (bought in 1999) is much less than the percentage rise of houses bought in 1999 and sold in 2007 so it will still help bring the rate down. And that's even without the new double garage/full heating system/new bathroom/kitchen etc. etc. (yeah I know only some of those would have added value).

I would have loved to have sold at the 1999 price and bought in the southwest at 1999 price. I was actually looking down there at the time, and could get 2 cottages/terraces in a rural area for the price of an Essex bungalow. Now I could get 1 and a quarter, if that, at 2009 prices.:o