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If you brought in 2006, would you expect...

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  • A house is worth what a buyer is willing to pay for it.

    I've seen so many people who believe their house is worth £x but buyers are only willing to pay £x-.

    If the house is worth the asking price to you, then that is what it is worth.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • HARSA
    HARSA Posts: 238 Forumite
    i asked the same question before...
    https://forums.moneysavingexpert.com/discussion/3946311=
    RedfordML wrote: »
    a + or - if you where marketing your house today?

    Reason I ask is the house at the top of our current shortlist was sold for £184,950 in 2006, today on the market for £200,000 - to me this seems overpriced considering the neighbour sold for £174,950 in 2011 - although amitted it does not have a conservatory and it needed more 'work' (painting etc).

    Here is a link to the house - what would you offer?

    http://www.rightmove.co.uk/property-for-sale/property-34865836.html?premiumA=true

    Would love to hear peoples suggestions!!!!?
  • IHateDida
    IHateDida Posts: 1,670 Forumite
    RedfordML wrote: »
    "Its becoming a popular area for people to move to - low crime rates, quality of life, good schools etc... so prices are pretty good still, sellers know that and the estate agents are all quite busy."

    What is the best area for the above in Norfolk/Suffolk in your opinion?

    I personally like Loddon - its very quaint. Theres some lovely areas in places around Halesworth too which are not too far from Southwold and Aldeburgh - this is where I would probably choose if my job was closer (not Southwold or Aldeburgh though - you have to win the lottery to live there:D!!!!)
  • ali-t
    ali-t Posts: 3,815 Forumite
    I bought in 2005 and sold in 2011 and made around 15% profit on what I had paid for the house.
    If you always do what you have always done, you will always get what you always got!
  • Taadaa
    Taadaa Posts: 2,113 Forumite
    We bought in 07 for £175k. A similar house without a gf extention in need of redecorating but with off street parking has been for sale at offers over £170k for months now. A house in the terrace adjacent without either went on the market for £157500 and was sold in two weeks. One is over priced imho, the other priced for a quick sale. Personally I think we would get slightly less than we paid. But we are not planning on moving in the next five years, and the mortgage has gone down a fair bit so tere is no actual negative equity. At the moment, anyway. Who knows what's around the corner.
    I have had many Light Bulb Moments. The trouble is someone keeps turning the bulb off :o

    1% over payments on cc 3.5/100 (March 2014)
  • KiKi
    KiKi Posts: 5,381 Forumite
    Part of the Furniture 1,000 Posts
    I offered full asking price for my flat in February 2006 for £184k. I didn't actually buy until October (seller changed their mind then went back to the market at the same price) 2006, though.

    My flat's now worth about £220k, and that's what similar flats are selling for in my road and area. But somewhere else in my town it would be a completely different story. As others have said: location is everything. :)
    ' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".
  • oldskoo1
    oldskoo1 Posts: 619 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    We sold for 7k less last month than what we paid for it in 2006.

    Just the way it is, but the property we are buying is around 10-15k less compare to the price stats.
  • CKhalvashi
    CKhalvashi Posts: 12,134 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    We're worth £97k more than we paid in March 2007, according to an agent (it was up for £550k, we paid £603k in a bidding war to secure the house). We've done no extension work, just pure maintenance and a new kitchen/bathroom, with a lot of original Victorian features.

    Interestingly, our former property in London hasn't been touched since we sold, and it's just sold for £800k (or £150k more) than we sold for, again in March 2007.

    We are on one of the most popular commuter belts for London (M11 corridor, next to an international airport) in a gorgeous and low crime area, so that could have something to do with it.

    CK
    💙💛 💔
  • maria6259
    maria6259 Posts: 180 Forumite
    Completely depends on area.


    A friend of mine lives in St Albans - i was shocked at the % increase in properties over there. But theres little coming up for sale and its a buyers market there - if you want the property you gotta pay the pennies so they say

    do you mean seller's market?
    If you want to go fast, go alone
    If you want to go far, go with friends
  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    House prices have generally gone down and I would expect to pay less now than in 2006 unless you're in London where the trend is bucked. Given the state of the economy house prices can only go down in the future in my opinion to a more realistic and affordable level.

    Asking £200K for a property bought in 2006 for £185K is more "insulting" than putting in a offer of £175K Go for it see what happens if they don't take it move on. It's a buyers market!
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