London Has Peaked

Bubble_and_Squeak

danothy wrote: »

And I don't see why you are having so much difficulty grasping the concept that the price wasn't actually agreed several months earlier. The fact is that it was agreed at exchange. That it wasn't binding and still up for negotiation (but in the cases you know about wasn't re-negotiated for whatever reason) should clue you in on that.

you're just being silly
if a price is agreed and the sale completes for that price what difference does the legal status of the agreement make?

Bubble_and_Squeak

danothy wrote: »

Is that a fact? I suppose you have some sort of detailed knowledge of the condition of the listed property and the one sold in May and how much the actual amount needed to bring them in line would be? I expect your detailed knowledge also extends to precisely what the Land Registry 'implies' too? You surely know that the average property in E15 has increased in sale price by £10k-£20k between May and August then? And how that relates to these two properties specifically, given that they appear to be above the average sale price for the area? Why, I bet you can explain in detail why an asking price differential of £10k less when one would expect £20k more just on the averages is a sign of price drops, rather than a property that needs £30k of work in comparison to another one. Of course this all assumes that the listing of "offers Over £375,000" doesn't actually expect to get "offers Over £375,000" (yet another reason you shouldn't rely on listing price to establish value).

ok danny don't get your kickers in a twist
you win
i admit i haven't studied the schematics or had a quotation for renovations

danothy

Bubble_and_Squeak wrote: »

you're just being silly
if a price is agreed and the sale completes for that price what difference does the legal status of the agreement make?

The difference is in the alignment and relationship to the market, the very thing you are trying to make assertions about. The very point is that the price isn't agreed until exchange. Write that last point down. Someone might say they will buy a house for some price, but they don't have to if the value substantially changes in the coming months (or even at all), and likewise the seller doesn't have to sell it. There isn't actually an agreement until exchange. This is critical. It's absurd to suggest that the price is agreed at any point other than when it is actually agreed. Making offers on houses is nothing more than expressing interest.

Lets be clear on this: I'm not being 'silly', you are being incompetent.

Bubble_and_Squeak

danothy wrote: »

The difference is in the alignment and relationship to the market, the very thing you are trying to make assertions about. The very point is that the price isn't agreed until exchange. Write that last point down. Someone might say they will buy a house for some price, but they don't have to if the value substantially changes in the coming months (or even at all), and likewise the seller doesn't have to sell it. There isn't actually an agreement until exchange. This is critical. It's absurd to suggest that the price is agreed at any point other than when it is actually agreed. Making offers on houses is nothing more than expressing interest.

Lets be clear on this: I'm not being 'silly', you are being incompetent.

i think pernickety would be a more appropriate word

Crashy_Time

danothy wrote: »

You certainly are. More than one it seems. The offers you speak of were non-binding and subject to change until exchange of contracts. I'll bet you still haven't checked to see how long it was between exchange and completion with either of your so called friends and colleagues.

The other point you seem to be missing is that on a street all the houses will not be the same value. There will be some above the average for that street, some below. If one of the ones in better condition sells, then they all increase in value, then one of the crumbier ones sells, the latter sale may well be lower than the first, but this does not mean that the values have dropped. When you make your comparisons you are not accounting for this possibility.

:rotfl:


Because of course YOUR house is very special, what your neighbour sells for can`t in any way impact your "price".


Are you sure you are not just a little bit deluded yourself?


In a rising market a tidy garden that has had features added, a new bathroom or kitchen might attract higher bids, but in a falling market these houses suddenly just become living spaces of similar sizes in the same street/area. It just takes one seller to lose their bottle to torpedo values for other similar houses.

Bubble_and_Squeak

Crashy_Time wrote: »

:rotfl:


Because of course YOUR house is very special, what your neighbour sells for can`t in any way impact your "price".


Are you sure you are not just a little bit deluded yourself?


In a rising market a tidy garden that has had features added, a new bathroom or kitchen might attract higher bids, but in a falling market these houses suddenly just become living spaces of similar sizes in the same street/area. It just takes one seller to lose their bottle to torpedo values for other similar houses.

i wonder if the owner of number 58 moselle avenue agrees with dannys pricing methods

http://www.rightmove.co.uk/property-for-sale/property-32529018.html

wotsthat

Bubble_and_Squeak wrote: »

i admit i haven't studied the schematics or had a quotation for renovations

Also I can't see how you can judge which, if either, of the houses represents the average and therefore provide a valid basepoint for applying Land Registry changes. You always seem to use the highest price as being representative of the average - probably some sort of bias.

You've proved beyond doubt that different houses sell for different prices - nothing else.

danothy

Bubble_and_Squeak wrote: »

ok danny don't get your kickers in a twist

My name is not 'danny'.

Bubble_and_Squeak wrote: »

you win
i admit i haven't studied the schematics or had a quotation for renovations

I wonder if there is any rational discourse, explanation, or evidence that you would perceive as a genuine indictment of your position or reason for a sanity check on your part.

Bubble_and_Squeak wrote: »

i think pernickety would be a more appropriate word

It is a trait of cranks to ignore fine distinctions which are essential to correctly understand things. That you suggest with your attempt at derision that the points are trivial when they are in fact critical speaks volumes.

Crashy_Time wrote: »

similar

Quite. If we're going to compare prices of different houses we should establish that they are similar, and to what degree they are similar, and to what degree those similarities are important to buyers.

Until these things are added to the comparisons being brought to this thread it's all just baseless assertion though.

Bubble_and_Squeak wrote: »

i wonder if the owner of number 58 moselle avenue agrees with dannys pricing methods

As if on cue. How similar is the property currently listed to number 58? Is the fact that they are on the same street enough to make you think they should be worth the same and be in the same condition so the prices must therefore be dropping? Does the fact that even if all that were true you are comparing an asking price (which may or may not change) to a sold price ring any alarm bells?

As an aside, still considering that my name is not 'danny', what do you think my pricing method is? Is this another assumption and assertion you have made without checking the facts? I knew someone else that did that a lot too.

In_For_A_Penny_2

Bubble_and_Squeak wrote: »

i wonder if the owner of number 58 moselle avenue agrees with dannys pricing methods

http://www.rightmove.co.uk/property-for-sale/property-32529018.html

58 looks like it was an end terrace. Are you trying to say that should be exactly the same as a mid-terrace house on the same street?

I'm really struggling to follow your logic (if thats what it is)

System

In_For_A_Penny wrote: »

58 looks like it was an end terrace. Are you trying to say that should be exactly the same as a mid-terrace house on the same street?

:laugh: This is incredible.