greed and stupidity personified.................

kabayiri

Amazing that you can get 3 bed bungalows darrn sarrrf for under 200K.

One has sold near me 'oop norff' a week ago for 360K, and it erm needs some TLC to say the least.

I thought it was supposed to be expensive to buy down there?

chucknorris

Emy1501 wrote: »

She bought the property in 2004 and therefore how ever much she spent on it, it should be still worth more now than what she spent on it.

.

Unless you over develop the property which I strongly suspect that she did, don't forget too that we are in housing crash

chucknorris

kabayiri wrote: »

Amazing that you can get 3 bed bungalows darrn sarrrf for under 200K.

One has sold near me 'oop norff' a week ago for 360K, and it erm needs some TLC to say the least.

I thought it was supposed to be expensive to buy down there?

Parts of Kent can be quite cheap, I have got my eye on Margate as a potential place for us to move to to live in the summer (winter in Spain)when my wife retires. Subject to a hell of a good look first of course I don't know much about the place yet, except that it has sandy beaches, an indoor bowling centre, decent chess clubs and some good period property.

I may find out after looking into it that it's a bit down market (anyone know anything about Margate?)

PasturesNew

Divorce was probably due to the financial strain of letting her have her own way.

kabayiri

I think it's good that you have the choice of cheap property in Kent then.

Still commutable to London too?

Emy1501

chucky wrote: »

and fortunately we're living in 2009 and not in the stone age.
i don't think that you understand that we don't live in the stone age and how a capitalist society works... :rolleyes:


and these 3 peope who thanked your post do not have a clue
The Following 3 Users Say Thank You to leveller2911 For This Useful Post: Show me >>
carolt (Today), nearlynew (Today), rewired (Today)

In fairness the banking system our main economy driver is pretty much nationalised and I suspect it won't be long before other industries are too.

C_Mababejive

I think the Government should introduce some kind of tax relief for all those who have fallen into negative equity through no fault of their own..:rolleyes:

abaxas

C_Mababejive wrote: »

I think the Government should introduce some kind of tax relief for all those who have fallen into negative equity through no fault of their own..:rolleyes:

Does that go with the free 'leggy blonde' for all ugly men?

Emy1501

chucknorris wrote: »

Unless you over develop the property which I strongly suspect that she did, don't forget too that we are in housing crash

The market was pretty slow in 2004. She bought a run down bungalow. She and her husband would be pretty stupid to have overpaid. As for developing you only have to watch PL to see even the extravagante developer espically back then had little problem making their money back.

PasturesNew

Emy1501 wrote: »

She bought the property in 2004 and therefore how ever much she spent on it, it should be still worth more now than what she spent on it.

In a lot of areas, house prices have gone down to 2003/2004 prices, so not necessarily.

Also, there's the road ceiling price: to take an extreme example, if she'd bought a corner house on a council estate, installed granite worktops, gold taps and a swimming pool, it would still be worth pretty much what she'd paid.

Emy1501 wrote: »

I also suspect that if more research was done it would be found that a fair bit of the 200K did not go on development of the house either.

This is often true.