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£174k under Zoopla evaluation. Is the house too good to be true?
Comments
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Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....0 -
Inflation?Crashy_Time said:
Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....0 -
We all know that. But ultimately for me (and for most people), it's about buying a house and paying the mortgage off so that in your old age, you don't have to pay rent and can therefore actually enjoy later life without worrying about it.Crashy_Time said:Exactly.....
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....
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pbhb said:it was purchased in 2016 for £522k which is inline with the market price of the village. The sellers then had to move to a bungalow after an accident meant the owner could no longer climb the stairs.
Sorry OP, I feel like I've gotten confused somewhere (especially as no-one else has mentioned it):pbhb said:The property has been on the market on and off for 4 years, originally priced at £595k.
As we're in 2020 now, are you saying that the house was purchased for £522k in 2016 - then in the same year, the owner had an accident, moved to a bungalow and relisted it for sale adding £73k (+14%) to the price, presumably with no changes to the house, all in the same year?
Has the house been unoccupied for the last 4 years then? If it's the case that the house was purchased for £522k in 2016 and has remained uninhabited for four years, then I'd say £450k perhaps isn't as outrageous as you suggest.
I think the seemingly random £595k figure and the zoopla (enough said) £624k are completely meaningless - you should only be looking at comparables.
Know what you don't0 -
Inflation in what?RelievedSheff said:
Inflation?Crashy_Time said:
Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....0 -
You're right that nothing much has happened to those 2003 houses. Yes, some people have done extensions etc but that's not what's driving the price increases. Fundamentally, a house is a deteriorating asset that requires ongoing expenditure just to keep in a stable condition.Crashy_Time said:
Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....
But what you seem to miss is that value is subjective and contextual. An umbrella is more valuable in a rainstorm than a heatwave. The umbrella didn't change, the circumstances did. Suppose there was a bad apple harvest, and meanwhile people were eating more apples. What would that do to the price of apples? But those apples are no better than the apples from before, which were half the price! True. We're being ripped off! Nope.
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House price inflation.Crashy_Time said:
Inflation in what?RelievedSheff said:
Inflation?Crashy_Time said:
Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....0 -
I would like an umbrella in a heatwave just as much.Salemicus said:
You're right that nothing much has happened to those 2003 houses. Yes, some people have done extensions etc but that's not what's driving the price increases. Fundamentally, a house is a deteriorating asset that requires ongoing expenditure just to keep in a stable condition.Crashy_Time said:
Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....
But what you seem to miss is that value is subjective and contextual. An umbrella is more valuable in a rainstorm than a heatwave. The umbrella didn't change, the circumstances did. Suppose there was a bad apple harvest, and meanwhile people were eating more apples. What would that do to the price of apples? But those apples are no better than the apples from before, which were half the price! True. We're being ripped off! Nope.When using the housing forum please use the sticky threads for valuable information.0 -
Driven by what?Caramac said:
House price inflation.Crashy_Time said:
Inflation in what?RelievedSheff said:
Inflation?Crashy_Time said:
Exactly.....newsgroupmonkey_ said:Quite there Crashy_Time.In fact, the crash has been going on for years.20192018In fact, I'll go back to 2003 when your lot first prediced this crash (and would be 2/3 of the way through that £130k mortgage by now)Saying that, even a blind squirrel finds a nut sometimes.As we keep saying, a house is like anything. It's what you are prepared to pay for it.
"The average price of a house now is slightly lower than it was six months ago, at just under £146,000."
What do you think has changed with those 2003 houses over the years to make them more valuable?
My bet is that more and more people know it is nothing, and they also know that they are being ripped off for basic shelter. Very interesting times.....0 -
The big problem with waiting for a 'house price crash' is you could end up waiting a really long time for a 30% drop in house prices. If, while you've been waiting, house prices have increased by 60% you are still losing out........
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