how much worth now ?

dorsetjohn_3

hello
What would the maximum be you would pay for a lovely detached house in dorset , that sold as a new build in jan 02 for 300k . It is thatched if that matters
thanks

inspector_monkfish

dorsetjohn wrote: »

in dorset ?

thouroughly recommend it ......:D

Leighthal

Any pictures?

dorsetjohn_3

Leighthal wrote: »

Any pictures?

The estate agent said they would take 400k for it . As I said it Sold for 300k ( NEW BUILD ) in jan 2002 . link below

http://www.rightmove.co.uk/property-for-sale/property-21613741.html?locationIdentifier=REGION%5E23768&includeSSTC=true&_includeSSTC=on&pageNumber=1&premiumA=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E23768%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26maxDaysSinceAdded%3D%26retirement%3D%26partBuyPartRent%3Dfalse%26includeSSTC%3Dtrue%26_includeSSTC%3Don%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse%26x%3D17%26y%3D17

penguine

Lovely house. Bit baffling that the owners think it's worth 33% more than they paid for it 7 years ago, however.

Graham_Devon

dorsetjohn wrote: »

hello
What would the maximum be you would pay for a lovely detached house in dorset , that sold as a new build in jan 02 for 300k . It is thatched if that matters
thanks

I'd pay the same as in 2002. 300k.

Houses around here, according to propertybee are having around 30% slashed off their asking prices if they have been on the market for a good few months.

Would take that one down to £315,000 applying that theory.

IveSeenTheLight

penguine wrote: »

Lovely house. Bit baffling that the owners think it's worth 33% more than they paid for it 7 years ago, however.

Because according to the LR, Dorset is 100 index points higher than it was in Jan 2002 or essentially worth 1.49 times the Jan 02 figure

Dorset Average figures
Jan 02 = £129,845
Apr 09 = £193,904

taking the property as being sold at £300k in Jan 01, it's theoretical value is now £448k.
If they are willing to sell for £400k, then they are factoring in a further 12% drop

IveSeenTheLight

Looking specifically at average detached houses for Dorset

Jan 02 = £195,970
Apr 09 = £292,652

Still theoretically worth 49% more than in Jan 02.
this factors in a 23.5% drop since Feb 08 peak at £361,431 average.

chucky

Graham_Devon wrote: »

I'd pay the same as in 2002. 300k.

Houses around here, according to propertybee are having around 30% slashed off their asking prices if they have been on the market for a good few months.

Would take that one down to £315,000 applying that theory.

penguine wrote: »

Lovely house. Bit baffling that the owners think it's worth 33% more than they paid for it 7 years ago, however.

not that i know any better than you guys above especially you Graham as it's not too far from you... but was the price they paid in 2002 the "market price". did they pay too much or even much less?

how can you put the value that you say if all you're comparing is what they paid for it? it's not going to be accurate.

ISTL's calculations probably make more sense i think.

dorsetjohn_3

chucky wrote: »

not that i know any better than you guys above especially you Graham as it's not too far from you... but was the price they paid in 2002 the "market price". did they pay too much or even much less?

how can you put the value that you say if all you're comparing is what they paid for it? it's not going to be accurate.

ISTL's calculations probably make more sense i think.

It was a new build , so what is the premium on a new build ? would it be 10% ?

cardsharps

More like 20-25%.