A real house selling exercise.

DiggerUK

PasturesNew wrote: »

Your poll didn't include values greater than 10% less, or it was badly written and nobody understood the question.

True, but nobody even claimed it would be lower.

DiggerUK

Pimperne1 wrote: »

In Sep 07 (when NR crashed), according to LR, the average house price was £184k, now it is £163k....That's about an 11% drop. ......

Can you link.

OK, got it.
http://www.housepricecrash.co.uk/indices-land-registry-national-monthly.php

EDIT 2
Seems that London is unchanged. 354 @ NR, 352 now.
http://www.housepricecrash.co.uk/indices-land-registry-london-monthly.php

EDIT 3
Mrs.D. has pointed out that the 15/16% under is a start price. It is suggested that we put it on at a guide price that is from 15/16% under, and a small %ge over what prices achieved @NR.
Sounds a bit like an auction catalogue tactic, anybody else heard of this tactic?

chewmylegoff

Before Northern Rock down to -10%

DiggerUK wrote: »

EDIT 3
Mrs.D. has pointed out that the 15/16% under is a start price. It is suggested that we put it on at a guide price that is from 15/16% under, and a small %ge over what prices achieved @NR.
Sounds a bit like an auction catalogue tactic, anybody else heard of this tactic?

you see it on rightmove occassionally. have to say that if i saw a house with a guide price of, say, £300-£325k, i would just treat the £300k as the asking price, and start off below it.

chewmylegoff

Before Northern Rock down to -10%

DiggerUK wrote: »

Not only SE London, it seems to be much of a sameness nationally.

well, given that i just directed you to some evidence that this is not the case, it seems not.

HAMISH_MCTAVISH

DiggerUK wrote: »

We wish.
Reckon we will have a valuation in 2/3 weeks time, when re-dec complete.
Hamish will have to face up to a real live "Digger got a real time property to sell'
Hope Hamish likes humble pie.

EH?

Why am I eating humble pie because you want to sell a house below peak prices???

Some areas are down from 2007 prices, some areas are now above 2007 prices, some house types have done well, some have done badly.....

But on average, most people in most areas have been better off financially buying a house to live in than renting a comparable house for just about any duration of time, even since 2007.

Which is really the only thing that matters in the real world.;)

the_flying_pig

HAMISH_MCTAVISH wrote: »

...Some areas are down from 2007 prices, some areas are now above 2007 prices, some house types have done well, some have done badly....

on average they're down about 15% from peak [v crude approximate average of halifax and NW]. so for every house that's still at peak there's one that's 30% down. for every house that's 10% above peak there's one that's 40% down. that is the inescapable nature of an average of an average of 15% down. your innumerate drivel risibly and of course entirely wrongly somehow implies that the average is flat with a few up, a few down.

HAMISH_MCTAVISH wrote: »

...on average, most people in most areas have been better off financially buying a house to live in than renting a comparable house for just about any duration of time, even since 2007.

Which is really the only thing that matters in the real world.;)

maybe. someone living in a HMO, or with parents, or staying in a smaller owned house but deferring trade-up, will be a good deal better off as a result of not buying.

DiggerUK

HAMISH_MCTAVISH wrote: »

EH?

Why am I eating humble pie because you want to sell a house below peak prices???

No "want to sell a house below peak prices" about it.
That must be about the nearest you have got to acknowledging the truth about the situation.
Having paid for the house in 2000, we will be 'up' on the price we will get, so long as we don't do anything stupid with the proceeds.

Your arguments centre on the premise that buying property is good....how much worse do things need to get before you sit up straight at the table....keep your elbows off the table...and eat your humble pie...?

Anybody taking on a mortgage at the moment is cruising for a bruising. Anybody renting is paying through the nose. The only people in the safe zone are those like us at Digger Mansions who are mortgage free, and rent free.

So come on, oh great one. If London prices are on a par with Sep 2007...what percentage of price achieved in Sep 2007, will Digger Mansions achieve. I think we will be lucky to get Sep 2007 -10%.

But what do I know, I'm bonkers......Aren't I?

julieq

It's a new one entirely to me to sell a house at a discount just to win an argument on an online forum, but I guess it is the only way a bear is ever going to win an argument so fair play really.

Cleaver

DiggerUK wrote: »

So come on, oh great one. If London prices are on a par with Sep 2007...what percentage of price achieved in Sep 2007, will Digger Mansions achieve. I think we will be lucky to get Sep 2007 -10%.

Just as an observation, two people can look round a house and come up with differing valuations. And these two people get to look at every detail of the house, the exact location and the imediate and near area to the house.

You're asking us to value a house without:

1) Knowing the area
2) Having seen it
3) Never having been inside it
4) Knowing pretty much nothing whatsoever about the interior or exterior of the house.
5) Knowing what you've done with the house since buying it
6) Knowing how much you paid for it

With this information I can therefore say with a great amount of confidence that the house will go on the market at +8.35% of 2007 prices.

STing

Cleaver wrote: »

You're asking us to value a house without:

1) Knowing the area
2) Having seen it
3) Never having been inside it
4) Knowing pretty much nothing whatsoever about the interior or exterior of the house.
5) Knowing what you've done with the house since buying it
6) Knowing how much you paid for it

With this information I can therefore say with a great amount of confidence that the house will go on the market at +8.35% of 2007 prices.

Which incidentally, is exactly how banks were valuing homes...

The wonders of CDOs. Magic away the debt, puff!