This is very bad news.....

bodgerx

"For us, however, the bottom line remains that the market is overvalued. Indeed, the fact that house prices are reported to have risen by 9pc over the past year while average earnings have risen by under 1pc illustrates that last year's recovery in house prices lacks any fundamental economic basis."

Thought that was the most interesting observation of the article...

Although that didn't stop prices rising over the last 10 years by many much more than income.

geoffky

new_home_owner wrote: »

this one seems familiar

Now i bought a house last year and this geoffky said i could not see what was in front of me, the problem with him his he obviously does not remember what he's posted before either that or he has a split personality....

I have bought with a 110k reduction in price over two years and all paid for with cash.....anyone buying now needs their head looking into unless you are buying for cash as rates will rise.... e...:rotfl::rotfl::rotfl::rotfl::rotfl: i got them to pay stamp duty and house is going in wifes name for a few months:T why make up the fact i have moved in? i have not....nutter

geoffky

new_home_owner wrote: »

this one seems familiar

Now i bought a house last year and this geoffky said i could not see what was in front of me, the problem with him his he obviously does not remember what he's posted before either that or he has a split personality....

your cage seems to be rattled on the good news i am a homeowner....:cool: yours was with a big mortgage was it not? your not worried are you?


11 March 2010 05:02:04

• Status changed: from 'Available' to 'Not Listed' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

17 April 2009 18:35:48

• Price changed: from '£249,995' to '£219,995' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

06 December 2008 16:15:00

• Subtitle changed: from '4 bedroom detached' to '4 bedroom detached house ' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

08 November 2008 11:41:07

• Price changed: from '£264,995' to '£249,995' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

12 October 2008 03:05:33

• Price changed: from '£284,995' to '£264,995' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

21 July 2008 13:46:41

• Price changed: from '£299,995' to '£284,995' [IMG]chrome://property-bee/skin/user_comment.png[/IMG]

:T:T:T:T:T:T

Really2

So what do you think it was Really worth when it first came on the market?
You seem to have got a really good reduction but what do you really think it was worth or do you think the £299K was about right at the time?

when I purchased I was lucky as I did have a price on an identical house purchased 4 months before to go on.
But by the sound of it you have not really got anything around to compare against.

Doctor_Gloom

geoffky wrote: »

hamish..i have just bought for 38 % off from 2008 prices(reduced from 299k to 180k) ?

Well I'd just like to commend Geoff for his considered property purchase.

And for having saved so much money in the process. Afterall this is what this website is all about, isn't it?

Good luck Geoff, and just ignore the begrudgers.

geoffky

Really2 wrote: »

So what do you think it was Really worth when it first came on the market?
You seem to have got a really good reduction but what do you really think it was worth or do you think the £299K was about right at the time?

when I purchased I was lucky as I did have a price on an identical house purchased 4 months before to go on.
But by the sound of it you have not really got anything around to compare against.

i valued it at 270k as this was before meltdown..what a few people do not get is round here the housing market is on its knees and has been for two years...financial services in Chester business park where bank of America and most other credit card company's..thousands have lost jobs or gone part time..there is another one who the builder built a year later with the similar design. but not 4 double bedrooms ...that was on for 279k and is still sat there at 249k two years later..

ess0two

Jackanory returns:cool:

geoffky

ess0two wrote: »

Jackanory returns:cool:

want a little bet?

Really2

geoffky wrote: »

i valued it at 270k as this was before meltdown..what a few people do not get is round here the housing market is on its knees and has been for two years..

That is why I purchased when I did, all builders were in the Shi* in July 08. Any stock houses could be picked up cheap as they so badly needed cash.

I think that is the problem with some on here they look at past graphs and think it applys to all areas and their will be some magical time to buy at the bottom.

The truth is the bottom for every area will vary, and more so the bottom for certain types of property will vary even greater.

It's a game of locality and finding the nominal bottom of what you want in my eyes.

new_home_owner_3

geoffky wrote: »

want a little bet?

I reckon the house you bought was bought by the previous people in 2003/4 for 166000.

only you know the answer, but you dont seem to want to share it with anyone.;)