Property Snakes and Ladders; 2009

fc123

dopester wrote: »

Got it slightly wrong but not by much.. just rewatched that part on Iplayer.

He grew up there.. his parents ran it as a children's nursery business.. sold it at peak for £325,000.... and the son has just bought it back at auction for £91,500. (Iplayer.. see around 09:30 onwards.) Now turning it back in to a big house in the Stoke area. In truth though... imo still way too expensive at £91,500.

http://www.bbc.co.uk/iplayer/episode/b00lbh1f/Homes_Under_the_Hammer_Series_13a_Episode_18/

OK Dopestar...I like your posts, I really do...but something going on here that's not quite right *there is an intonation to me saying this that may not come across written down* ....Why is 91,500 still too much?

What do you think the correct price should be?

It's worrying me as you may get so used to living with prices always going down, you may not norice when they rise...I speak from experience.

We personally didn't notice a HP Boom until about 2003....nor a retail rents boom. It just caught us by surprise as we'd lived through the 90's when everything just went lower or stayed the same.

fc123

And I just watched the show on catch up...something going on with the hair again.....where was the nice blunt cut bob with subtle streaks?

Twins and Graffman...the baby changed everything. I guess they will will just carry on living there.

silvercar

The reason they move into the properties before selling (if you ignore the "after all our hard work we wanted to enjoy it" and "waiting for prices to move up" guff) id that, once a property has been your home, you are exempt from CGT for the last 3 years of ownership. For all but the slowest developments that will mean no CGT bill.

John_Pierpoint

fc123 wrote: »

We personally didn't notice a HP Boom until about 2003....nor a retail rents boom. It just caught us by surprise as we'd lived through the 90's when everything just went lower or stayed the same.

I bought a terraced house in 1998 and was a little bit worried that it might go down in price by say 10%, as the rest of the world did not seem to agree with me that bricks and mortar had become good value again.

At the moment I have no real opinion on what is happening (in terms of GBP) as we are in uncharted waters in terms on the money supply. I am keeping my eyes open for redundancies causing distress sales 6 - 12 months later. Thus causing the "double dip" recession.

mewbie_2

Bump - 8pm tonight. Best thing on telly. Might clash with some Scot we are claiming as a Brit, but who cares about that.

PasturesNew

mewbie wrote: »

Bump - 8pm tonight. Best thing on telly. Might clash with some Scot we are claiming as a Brit, but who cares about that.

Great. Just polished off 2 crisp and salad cream sandwiches for tea ... and this'll round the evening off nicely.

Isn't there supposed to be a real shocker tonight? Something about finding a "pool" under the house ... I presume they mean either the cellar floods and needs tanking, or the water table is high.

staffsuk

Go Sarah - Go Sarah - Go Sarah :A

PasturesNew

First couple, I did some digging around, I think it might be this:
http://www.houseprices.co.uk/e.php?q=little+GU5+9JE&n=100

In which case it might be for rent here:
http://www.rentright.co.uk/surrey/shere/68873_property.aspx

Actually, digging a bit more, it's on with SEVEN agents for rent:
http://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=POSTCODE^358381

PasturesNew

Well, you lot were a no show weren't you.

So, overview time:

Property 1: Shere, Surrey. 400 year old semi-derelict semi-detached cottage.
Paid: £346k
Budget: £115k
Target Sale: £550k
Spent: £141k
Agent Valuations: £495k, £500k
Put on market at: £540k
Six months later, they put it up for rent at £1600/month

PasturesNew

Property 2: Old shop in Bethnal Green, with a basement being stored for storing junk. He'd been living there 10 years, tried to get LL to sell it to him for 6 years. She lived elsewhere. They were married but both need studio space so kept their separate homes still.

Bought: £150k
Budget: £90k
Want to rent it at £500/week
Spent: £112k
Agent valuations to rent: £485/week, £500/week, £500/week
Agent valuations to sell: £385k, £420k, £450k
They decided they did still want to rent it out for now - they got tenants in at £540/week.