Can I ask a stupid question?

Really2

Graham_Devon wrote: »

I'm not sure anyone actually get;s what I'm trying to say here.

So I shall put it into pictures. Need propertybee to see the evidence, but....

House picked at random in Ashford, Kent.

Initial asking price £379,000.

Final asking price before going STC... £310,000

ACTUAL sold price? Don't know, but say 8% off that = Final selling price of £285,000.

Difference between selling price (recorded in index's) and INITIAL asking price, (recorded on RM index) = 25%.

Property listing number 2.
http://www.rightmove.co.uk/property-for-sale/Ashford.html?minBedrooms=4&includeSSTC=true&_includeSSTC=on&index=70

---

Initial asking price: £350,000

Final asking price "Offers above £220,000".

So say final selling price = £225,000

Difference between selling price (recorded in index's) and INITIAL asking price, (recorded on RM index) = 36%.

House no.3 on listings
Clicky

Can't really be bothered listing any more. Realise not all houses are like this, and the weight of the other houses brings the percentages down, however, having more of an affect, is those listed, which never sell, due to the price being high and the seller not having to sell, so pulls it.

If the above, really have no affect on the difference between RM andactual sold price index's, then I dunno what to say. Evidence is above though. No ones got 25 or 36% off the asking price. The asking price at the time was lower than the INITIAL asking price. But it's the initial asking price which RM looks at, not the asking price before a sale.

If the majority of houses sell at 10% below asking price and sells withing 3 months for your theory to work the rest of the houses would need to be cut 70%+ from initial asking price to make up the slack in the theory.

EG
1 - 10% = 0.9
1 -70% = 0.3

(0.3+0.9) /2 = 0.6 (average 40% lower)

lemonjelly

Really2 wrote: »

I use a ho to agitate my soil. Lot easier than doing it myself.

I use a ho for something completely different.:cool:

BTW I'll argue that this post is on topic all day, seeing as everyone is saying "well it all comes down to definitions...";)

Graham_Devon

Really2 wrote: »

If the majority of houses sell at 10% below asking price and sells withing 3 months for your theory to work the rest of the houses would need to be cut 70%+ from initial asking price to make up the slack in the theory.

EG
1 - 10% = 0.9
1 -70% = 0.3

(0.3+0.9) /2 = 0.6 (average 40% lower)

You ignore those that don't sell.

Again.

Really2

Graham_Devon wrote: »

You ignore those that don't sell.

Again.

???? The point was from rightmove asking price to other indexes, they have to sell at some point so the figures above stand graham. (for your idea to work they would have to be market high then lowered drastically in 50%+ of cases)

So unless you can give us some figures showing us what you mean it is hard to know what you are on about.

I think someone earlier hit the nail on the head as things like the halifax do not put houses £1M+ in their figures.

chucky

Graham_Devon wrote: »

I'm not sure anyone actually get;s what I'm trying to say here.

have to agree 110% - it's good that you've seen the light :T