What are they thinking???

littlesos

RHemmings wrote: »

I searched on nethouseprices.com for all houses/streets within 500m of Measham Road. It seems a fairly cheap area, though I don't know the number of bedrooms per terraced/semi/detached house.

The only house I could find that exceeded the asking price of the house in question were in Church Street. One £500K, one £320K.

The only nearby "flip" I could see was 16 Ashby Road, which was sold for £121,500 in June 2006, and then for £136,000 in May 2007. That's an 11.9% increase in just under a year. But the house in question is on for an asking price which if achieved would be an increase of 33.9% in a year. A lot different from an 11.9% increase.

While I haven't seen the properties in Church Street, I'd guess that the vendor is being driven by the highest local prices, and expecting something similar.

But Leicestershire is not a place, in general, where prices have been going up at high speed recently. So, I'd think that the asking price is just absolute lunacy.

The 500k one is a beautiful victorian house set right back of the road behind mature hedging and next to the church. It has a huge amount of land with it and was definately worth £500, if not a bit more.

The agent selling it now is the same one that sold it the first time, so I can only imagine that the vendors have insisted on the valuation.

Rabiddog_2

Arent people coming on here moaning about house prices up/down asking prices etcetera just really requiring a nudge or nod to say they have done the right thing? e.g the poster here is fearful they have missed out on a corker (33%+) or that the place cant possibly be worth that much. You should have faith in your own judgement, and don't be swayed too easily by others.
I do have a fantastic Sub prime mortage offer for you that starts off at easily affordable rates