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Help Advice needed. Luxery apartment dropped 25K in price, in just over a year!
Comments
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And what a seller will sell for. It takes 2 to make a market.
Actually it's what the buyer will buy for:
Seller: I want £10 for this toaster.
Buyer: I'll only offer £5
Seller: I accept
VALUE: £5
Seller: I want £10 for this toaster.
Buyer: I'll only offer £5
Seller: I wont take less than £8
Buyer: Sorry, not interested, £5 final offer.
VALUE: £Undefined
TRUE value is only defined by the amount/items exchanged.
The seller refusing to accepting the lower value does not mean the item is worth the higher value. The seller ISN'T a "seller" until he exchanges. Until then he is an owner.
In the above example, even if the "buyer" had agreed to raise his offer to £8, then it's still the buyer deciding, not the seller.
I can claim my coffee cup is worth £1bn, but unless I can find a buyer who will pay me £1bn, then my coffee cup isn't WORTH £1bn.
It works both ways though... the value of the toaster above is £5... the value of a £ is 1/5 of a toaster. This will be demonstrated when people go on holiday to spain this year and all the meals cost 10% more than last year... but the prices are the same... the £ is just worth 10% less.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
There are quite a few of these new build shared ownship flats just down the main road from me. Personally speaking I wouldn't touch this type of scheme. I am not on my own it seems because not one of them have been sold in the 12months or so that they have been completed.0
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A property is 'worth' exactly what someone is prepared and able to pay for it. Your girlfriend was prepared to pay what she did - so that is what it was worth.
It is now worth what someone else is prepared and able to pay. Which is undoubtedly a lot less than your girlfriend paid.
In a few years time it will probably be even less.
It's called a house price crash. Its happening right now!0 -
Actually it's what the buyer will buy for:
Seller: I want £10 for this toaster.
Buyer: I'll only offer £5
Seller: I accept
VALUE: £5
Seller: I want £10 for this toaster.
Buyer: I'll only offer £5
Seller: I wont take less than £8
Buyer: Sorry, not interested, £5 final offer.
VALUE: £Undefined
TRUE value is only defined by the amount/items exchanged.
The seller refusing to accepting the lower value does not mean the item is worth the higher value. The seller ISN'T a "seller" until he exchanges. Until then he is an owner.
Your example shows that it takes 2 to make a market, a buyer and a seller!
To take an example of a 1 person market.
Buyer: I'd like to buy a toaster.
Buyer: Anyone?
Buyer: Er...
etc.
Another example of a 1 person market:
Seller: I'd like to sell a toaster
Seller: Anyone?
Seller: Er...
etc.
You're right that if the buyer and seller can't agree a price there is no price. Often it doesn't work like that as one party will be more motivated than the other so will end up becoming a price taker.0 -
There are quite a few of these new build shared ownship flats just down the main road from me. Personally speaking I wouldn't touch this type of scheme. I am not on my own it seems because not one of them have been sold in the 12months or so that they have been completed.
where abouts in the uk are you?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
What does [sic] mean?
I see it in loads of things & it always puzzles me
Sorry to hijack thread
It is a way of distancing yourself from someone else's error (or phrasing). A polite version of the spelling/grammar police. In this case the spelling mistake.
Numbnutz was basically saying I am quoting them exactly (including their spelling mistake), so the spelling mistake is theirs not mine. I'm much too smart to make that mistake.
or the OP was using an archaic version of the word http://en.wikipedia.org/wiki/Sic! :rotfl:I am an IFA (and boss o' t'swings idst)You should note that this site doesn't check my status as an IFA, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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