London Has Peaked

Bubble_and_Squeak

wotsthat wrote: »

Funny old correction - one sold on the same street last July (when you pulled out because of the bubble) for £70k less.

give it up wotsit
its over
i pulled out in april because of the bubble, not july

System

Bubble_and_Squeak wrote: »

well, well, well
even the mighty tottenham is not immune to a little correction
http://www.rightmove.co.uk/property-for-sale/property-31046499.html
i viewed the (tiny) last sold when it was up for £245k
looks like ellis and co have bypassed the kite flying and gone straight for the stamp duty threshold

You'd have to spend £50k to bring this hovel up to the standards of 33, looks like an enormous price rise to me.

wotsthat

Bubble_and_Squeak wrote: »

give it up wotsit
its over
i pulled out in april because of the bubble, not july

That's still a real £70k you need to find at least because, so far, your correction has involved prices going up. As Cher would say...

Bubble_and_Squeak

wotsthat wrote: »

That's still a real £70k you need to find at least because, so far, your correction has involved prices going up. As Cher would say...

you shouldn't base your calculations on the assumption that an asking price will be achieved, especially in a falling market

wotsthat

Bubble_and_Squeak wrote: »

you shouldn't base your calculations on the assumption that an asking price will be achieved, especially in a falling market

What's your learned opinion on what they'll get? Doubt someone's going to get £70k off - why don't you offer £180k and see if your hand gets snapped off?

Bubble_and_Squeak

wotsthat wrote: »

What's your learned opinion on what they'll get? Doubt someone's going to get £70k off - why don't you offer £180k and see if your hand gets snapped off?

when there is a bubble prices can fall just as quickly as they went up
although, £180k does seem "cheap" for that part of the world

wotsthat

Bubble_and_Squeak wrote: »

when there is a bubble prices can fall just as quickly as they went up
although, £180k does seem "cheap" for that part of the world

Let's ignore that then.

Bubble_and_Squeak

wotsthat wrote: »

Let's ignore that then.

yes, lets ignore that
the same way that you're ignoring the deflating london bubble

In_For_A_Penny_2

Bubble_and_Squeak wrote: »

well, well, well
even the mighty tottenham is not immune to a little correction
http://www.rightmove.co.uk/property-for-sale/property-31046499.html
i viewed the (tiny) last sold when it was up for £245k
looks like ellis and co have bypassed the kite flying and gone straight for the stamp duty threshold

Really don't think you can read too much into that. . . houses differ (even on the same street!). Maybe they want a quick sale and have priced it at just below the stamp duty threshold to try and ensure that?

I think I mentioned the concept of observer bias before!

Bubble_and_Squeak

In_For_A_Penny wrote: »

Really don't think you can read too much into that. . . houses differ (even on the same street!). Maybe they want a quick sale and have priced it at just below the stamp duty threshold to try and ensure that?

I think I mentioned the concept of observer bias before!

or maybe the know that the bubble has burst and are trying to sucker a first time buyer who hasn't cottoned on yet by presented it as a tax saving bargain