Properties with the biggest drops in prices

Crashy_Time

Bubble_and_Squeak wrote: »

i have to admit i was caught up in this nonsense earlier this year.
it got to the point where i was putting offers above the asking price on houses i didn't want in areas i didn't want to live in.
looking back i'm very grateful that these people outbid me and saved me from my own stupidity but at the same time i have sympathy for them.

They will love you on here then :j

Bubble_and_Squeak

it looks like HPI forever didn't work out for this unfortunate investor

http://www.rightmove.co.uk/new-homes-for-sale/property-29579874.html

"This property is being sold-on by an off plan purchaser before completion of the development. This is known as a lease re-assignment and as such, is effectively not mortgageable. This means the full property price must be paid in cash, the reimbursement of the original deposit repayable to the vendor upon exchange, plus an additional profit element. And with full funds due on completion."

it has "lost" £15,000 in value since march
a sign of the times ?

saguk1234

£300k for a studio flat??? Dont you just love HPI love. Prices can only go up!

wotsthat

Bubble_and_Squeak wrote: »

it looks like HPI forever didn't work out for this unfortunate investor

http://www.rightmove.co.uk/new-homes-for-sale/property-29579874.html

"This property is being sold-on by an off plan purchaser before completion of the development. This is known as a lease re-assignment and as such, is effectively not mortgageable. This means the full property price must be paid in cash, the reimbursement of the original deposit repayable to the vendor upon exchange, plus an additional profit element. And with full funds due on completion."

it has "lost" £15,000 in value since march
a sign of the times ?

Is that a 15% reduction in asking price since March or on what the original off plan purchaser paid?

Doesn't look a very nice area on streetview.

Bubble_and_Squeak

wotsthat wrote: »

Is that a 15% reduction in asking price since March or on what the original off plan purchaser paid?

Doesn't look a very nice area on streetview.

its near to manor house tube and near loads of night buses so that puts extra HPI on top of HPI.
i inquired about this development last year but was told they had all sold out and that the next available flats would be 2017.
at that time the then current batch were going for £285k for a 2 bedder.

Bubble_and_Squeak

http://www.rightmove.co.uk/property-for-sale/property-43314541.html?premiumA=true

the old put-the-price-up trick didn't work

Crashy_Time

Bubble_and_Squeak wrote: »

http://www.rightmove.co.uk/property-for-sale/property-43314541.html?premiumA=true

the old put-the-price-up trick didn't work

Bummer.:money:

wotsthat

Bubble_and_Squeak wrote: »

http://www.rightmove.co.uk/property-for-sale/property-43314541.html?premiumA=true

the old put-the-price-up trick didn't work

If they get £850k it'll be c400k more than the highest price ever achieved on that road.

wotsthat

Crashy_Time wrote: »

Because they "bid" with bankers tokens that were designed to benefit top bankers in the biggest Ponzi scam in history, is anyone seriously going to deny this? (cue supply and demand, not enough bricks, to many people moving down from Mars....YAWN) For this reason they are not deserving of sympathy when it goes wrong. If they can`t intellectually understand it, they will understand it financially. They were the sheep, the bankers (and politicians) were the wolves.

So you've opted out of the ponzi by paying a landlord who has paid with bankers tokens instead? Or do you check that your landlords are mortgage free?

Why not buy a house and really opt out - banker man won't be able to lend against it again? It's not as if you don't have the funds :whistle:

Still don't see why you despise anyone that buys a house with borrowed money.

Crashy_Time

wotsthat wrote: »

If they get £850k it'll be c400k more than the highest price ever achieved on that road.

Exciting! Like watching Deal...or No Deal :rotfl: The clock is ticking.......