Please critique my house...

Crashy_Time

Brackenfield wrote: »

According to that article my house should be perfectly priced at 300k a rise of 20% in 11 years. Fingers crossed :D:D

For a valuation, or for a buyer, or both?

getmore4less

Crashy_Time wrote: »

The people that would know the area, and many other areas, seem to be agreeing with me at the moment.


https://www.estateagenttoday.co.uk/breaking-news/2018/8/warning-of-a-correction-to-come-and-dont-buy-property-at-peak-price

Average house price growth from June 1998 to September 2007 was an eye-watering 172.4 per cent; but there’s been an increase of only 20.2 per cent in the 11 years to June 2018.

WOW.I don't think you understand what that means.

Prices have only gone up 20% past the previous peak, with a number of areas only just back to where they were I am surprised it is so high.

comparing the bottom(near) to top of a cycle to top to top(if you believe this is the new top) of a cycle is very sloppy.

using the dates the index and putting in the bottom/top at other dates
31.8 sept 89 top
27.9 Nov 92 bottom
39.9 June 98 article
99.7 sept 07 top/article
81.0 March 09 bottom
119.8 June 18 current/article

Someone who was smart enough to catch the last crash* and bought early 09 is now 50%(80-120) up from where they started which means they can take a 30% haircut from current prices and still be smiling.


* The 07-09 down turn was the biggest we have ever in our lifetime,

The previous one in the 90s was more a stagnation while inflation took over making the values relatively lower making it a little harder to spot so we can excuse you not jumping in for that one

OR do I remember right, was that not the time you bailed out expecting a crash when it was happening right under you.

ProDave

getmore4less wrote: »

Someone who was smart enough to catch the last crash* and bought early 09 is now 50%(80-120) up from where they started which means they can take a 30% haircut from current prices and still be smiling.


* The 07-09 down turn was the biggest we have ever in our lifetime,

The previous one in the 90s was more a stagnation while inflation took over making the values relatively lower making it a little harder to spot so we can excuse you not jumping in for that one

OR do I remember right, was that not the time you bailed out expecting a crash when it was happening right under you.

The more sanient point for much of Scotland (and many parts of England as well) is that prices have barely risen at all since the bottom of the 2008 crash. We have had (continue to have) 10 years of stagnation.

The point I make is the only "correction" needed here is upwards. It is already very difficult to build a new house of the scale of this one, and actually manage to build it for a lower cost than it's "market value"

Brackenfield

Crashy_Time wrote: »

For a valuation, or for a buyer, or both?

As it says in my original post - the home report value for the house is £330k.

Smodlet

Brackenfield, have you read even a small sample of Crashy's other posts? Oh wait, you don't need to; they are pretty much all the same (strums) "Only the names will cha-a-a-ange". :cool:

peachyprice

Things I don't like about it, but not much you can do about really:

I don't like the look of the lovely stone wall against the stark red brick, it just clashes too much for my liking, it just looks strange.

The whiteness, so very white, everywhere, it's too stark.

The 3rd bedroom next to the front door. If it's not being used as a bedroom could you re-arrange it as a games/TV room/Library?

That kitchen floor, looks like public loos. Probably wouldn't be so bad if it weren't for the all-white kitchen.

The dark window frames, especially against all the white.

The bright blue garage doors, they stick out like a sore thumb and would look much better if the matched the window frames.

Things I really like:
The garden and patio, wow, what a lovely space.

The sun room, I like that it's an actual room with walls and ceiling, that can be used all year round. Far, far superior to a conservatory

The overall layout. Like a house that isn't just a box divided into square rooms inside.

The amount of storage in the kitchen.

getmore4less

ProDave wrote: »

The more sanient point for much of Scotland (and many parts of England as well) is that prices have barely risen at all since the bottom of the 2008 crash. We have had (continue to have) 10 years of stagnation.

The point I make is the only "correction" needed here is upwards. It is already very difficult to build a new house of the scale of this one, and actually manage to build it for a lower cost than it's "market value"

been having a play with the land registry beta site.

http://landregistry.data.gov.uk/app/ukhpi
(once the filter is set the data load seems slow)

the curve for Scotland is quite different to the whole of the UK.

no previous crashes a steady rise to 2007 then a small dip and generally slow climb back to 2007 levels.
not sure how narow the filters go I just did UK then England & Scotland.

Prices can fall well below current build costs in areas that are not short of stock, or going into serious decline due to no work, social housing and housing benefits can prop up an area.

historically in more remote areas it was only land/business owners, the doctor and the minister that lived in a big house.

Crashy_Time

Brackenfield wrote: »

As it says in my original post - the home report value for the house is £330k.

Just a buyer required then, good stuff.

Brackenfield

Price changed, imperial measurements added and number of pics reduced: https://www.rightmove.co.uk/property-for-sale/property-67086751.html


Thanks for all who took the time to critique.

Mutton_Geoff

Crashy_Time wrote: »

The people that would know the area, and many other areas, seem to be agreeing with me at the moment.


https://www.estateagenttoday.co.uk/breaking-news/2018/8/warning-of-a-correction-to-come-and-dont-buy-property-at-peak-price

The "people that would know the area" are the same ones that say "you wouldn’t invest in a share that was at its all-time peak so equally I would caution against buying property that was at its highest ever level". When you buy a share you are buying part of a company. Why would you not buy at "an all time peak" if there was more to come.


This sort of amateur journalism is favoured by Crashy who is wishing his dream would come true. In the meantime, the market moves ahead, slowly but surely.