If I bought a house in June 2007 at the peak...

FungusFighter

and sold it in the spring next year could I expect to get my money back?

Argument in the pub yesterday and I'm too hungover to get my head round the percentages...:D

Dan:_4

FungusFighter wrote: »

and sold it in the spring next year could I expect to get my money back?

Argument in the pub yesterday and I'm too hungover to get my head round the percentages...:D

totally depends on location

FungusFighter

Dan: wrote: »

totally depends on location

Worcs, and it's been tarted up a bit

But also have to take buying and selling costs out, it's doing my noodle:beer:

ukcarper

Someone in my road did just that this year bought 2007 285k sold mid 2009 277k in the southeast not much done to the house.

nollag2006

Again - all depends on location and type of property. More desireable areas are picking up faster than others, and there is still a lot of 2 bed newly developed flats on the market in regional towns that just aren't shifting. Their prices will continue to lag.

The real winners are larger homes in desireable areas. Talking to friends in areas I know, like Harpenden, St. Albans and parts of North and West London, and many of them are commenting that prices are now within 5 - 10% of their peak levels and rising fast.

1984ReturnsForReal_2

FungusFighter wrote: »

and sold it in the spring next year could I expect to get my money back?

Argument in the pub yesterday and I'm too hungover to get my head round the percentages...:D

Only to someone stupid with a lot of cash/equity & a lower mortgage requirement.

The surveyors for the mortgage would put it at 2005-2006 pricing levels.

That is of course unless you got a bargain in 2007.

FungusFighter

Thanks you dudes

I thought about 10% down (not including buying/selling costs) but me mates keep arguing they've gone right back up again :mad:

Has anyoe got a chart or graph just fro 2007 - 2009? (Needs to be idiot-proof:rotfl:)

chucky

FungusFighter wrote: »

Thanks you dudes

I thought about 10% down (not including buying/selling costs) but me mates keep arguing they've gone right back up again :mad:

Has anyoe got a chart or graph just fro 2007 - 2009? (Needs to be idiot-proof:rotfl:)

you should have waited - they went doen 70% in 2008 and have just gone up 42.32544168% in December 2009 according to the Land Registry. it must be true i read all of this on this forum!!!

btw does it have a toilet?

FungusFighter

chucky wrote: »

you should have waited - they went doen 70% in 2008 and have just gone up 42.32544168% in December 2009 according to the Land Registry. it must be true i read all of this on this forum!!!

btw does it have a toilet?

3 actuarly mate:D

And it aint mine, belongs to a mate who hopes to unload it in the spring and cos he's desperate he's trying to convince himself an everyone else he won't get stung ( should put him in touch with Hamish....:cool:)

ukcarper

1984ReturnsForReal wrote: »

Only to someone stupid with a lot of cash & a lower mortgage requirement.

The surveyors for the mortgage would put it at 2005-2006 pricing levels.

That is of course unless you got a bargain in 2007.

Not true lower mortgage requirement yes but they could have a lot of equity in the house they are selling

1984ReturnsForReal_2

ukcarper wrote: »

Not true lower mortgage requirement yes but they could have a lot of equity in the house they are selling

Sorry. I have amended my post to cash/equity.

Hopefully this is now satisfactory..