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Sold Prices as a Benchmark
kriss_boy
Posts: 2,131 Forumite
A house my girlfriend and I really like sold for 132K in 2002 and is now listed as 217K today.
Is there anyway of working out what it should be worth in 2010 based on that 2002 price?
217K might have been a fair price in 2007 but theres a lot of great properties on the market and we reckon its overpriced for the work that needs done to it.
Is there anyway of working out what it should be worth in 2010 based on that 2002 price?
217K might have been a fair price in 2007 but theres a lot of great properties on the market and we reckon its overpriced for the work that needs done to it.
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Comments
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It's worth what you or anyone else are prepared to pay for it, regardless of any theoretical calculations based on average price increases or decreases.
What have similar houses in the same street or surrounding area sold for since 2002? Extrapolating from any of these that sold in 2008 or 2009 would be a far more accurate benchmark than using a sale price from 2002.0
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