How much have you lost on your property ?

asandwhen

I paid £180,000 in october 2007 - It was a house we had been living in privately rented that we purchased from the land lady - we did get quite a discount on it as she didnt have to pay estate agents ect ect - It was valued at £195,000 by an estate agent at the time when she was going to put it on the market which probably means it was worth £185k - £195K.

Other houses similar to ours are going on the market now for about £190K so maybe 5K less than then - we had a very large deposit though from the sale of my flat that I was renting out so we should be ok to style out a crash.

personally I hope we do have a resonable crash because the money I made from my flat wasn't "real money" as it was just going from one property to another but a crash will mean I can afford a bigger house in a few years time.

I have fixed payments for the next 4.5yrs (5yr fix in october) so the picture will be lot clearer by then and hopefully property prices wont have gone up in that time meaning I can move up.

I definately think the people that want property prices to rise are btl investers and banks (by the way i wasn't a btl investor I was letting my flat out that I hd when I was single as my family wouldn't fit in it and I couldnt afford to by another house at the time).

So anyway enough rambling good luck to you all

Zammo

*Louise* wrote: »

If prices fall, I don't care

Yeah right.

If you bought six months ago you bought at the absolute peak. You stand to lose small fortune and you're expecting people to believe that it won't bother you? That you could have been paying far less if you had waited a few years. That you could be stuck there whether you like it or not as you are in negative equity? That you could have bought a far nicer and bigger property if you had held out, or somewhere in a far nicer area?

The prices of some of the more delusional sellers are still the same as they were 6 months ago around my way as well. And guess what? Those houses have been sat on the market for the last 6 months.

Funny that.

The_Dangerman

Zammo wrote: »

Yeah right.

If you bought six months ago you bought at the absolute peak. You stand to lose small fortune and you're expecting people to believe that it won't bother you? That you could have been paying far less if you had waited a few years. That you could be stuck there whether you like it or not as you are in negative equity? That you could have bought a far nicer and bigger property if you had held out, or somewhere in a far nicer area?

The prices of some of the more delusional sellers are still the same as they were 6 months ago around my way as well. And guess what? Those houses have been sat on the market for the last 6 months.

Funny that.

Why should she care? People have been "predicting" a crash in property prices since 2001, and guess what, it hasn't happened. I bought my first house in 2005 and everyone said I was crazy then, yet it kept on going up. Its upto a point now where implausable that it will EVER be in negative equality.

Nobody has a crystal ball, so even if she realised she could of bought cheaper, it wasn't certain, just like it wasn't certain in 2005 that they were going to go up.

In the words of the Baz Luhrman song "Don't congratulate yourself, or berate yourself either, your choices are half chance, so are everyone else's"

I didn't KNOW houses were going to continue to rise in 2005, but I felt the foudations of the economy were strong and that it was about time I took a seat on the property ride. So far its worked.

If you need a house you can't be too clever when it comes to "predicting" prices, sometimes you just have to go for it. If you had listened to the "predictions" in past years you would be SERIOUSLY out of pocket.

Davesnave

If prices fall, I don't care - I plan to live here for the next 10 years at least.:D

Tell you what Louise, you've got a house & some others on here haven't, hence some of the bitter comments one sees. It is just the old half full/half empty scenario.

If people read your post they should see you are a nester, not an investor. Having bought, you are now free to get on with your life, and that can be worth a lot. Unlike houses, none of us gets another.

I'm not unsympathetic towards those who are praying for a crash, so that they can afford what they regard as their 'right' - home ownership - but the mental anguish they go through seems distort things, making a few think that they also have the 'right' to be snide and unkind.

When people post on here, giving the opinions they hold, it should be accepted that they have a right to those too. Challenge opinions, but don't claim that posters do not mean what they say. Reserve that for trolls.

As for whether present day purchasers will regret their decision to buy in a year or so, that will depend on more than future house prices. If we have the recession that some have waited for, rather than the soft landing that many might prefer, there will be just as many casualties among the renters as the home owners. Indeed, far from seizing the day, many present day renters may be much further from their goal......After all, if they couldn't keep up financially during the boom years....

The delusion is, perhaps, thinking that there is an easy, 'fair' solution, where the downtrodden will rise up and right the undoubted financial wrongs of recent history.

Yeah, right.

*Louise*

Zammo wrote: »

Yeah right.

If you bought six months ago you bought at the absolute peak. Yes, but my previous property was bought at the bottom and sold at the peak, so lots of equity and a very small current mortgage You stand to lose small fortune and you're expecting people to believe that it won't bother you? I won't lose a fortune, because I don't intend to sell for a long long time. It's my HOME That you could have been paying far less if you had waited a few years. I couldn't wait a few years, we needed a bigger place asap No, because That you could be stuck there whether you like it or not as you are in negative equity? I am happy to be stuck here, it's my perfect house, and I won't be in negative equity unless prices drop by 50%, which is unlikely That you could have bought a far nicer and bigger property if you had held out, or somewhere in a far nicer area? I don't want any other area, I like it here - and less equity in my previous home would mean less deposit to buy a bigger place, no matter if pices did fall

The prices of some of the more delusional sellers are still the same as they were 6 months ago around my way as well. And guess what? Those houses have been sat on the market for the last 6 months. Houses are still selling fast around here, there is a very high demand.

Funny that.

So there you go - I'm happy with my situation. It may not be ideal to others, but that's a matter of opinion.

And can I just point out - when I say 'I don't care' I only mean with regards to my own situation and I don't care how it affects me. I do however, feel sorry for people who are losing money / unable to sell or who will be hit badly by any crash. :sad:

pickles110564

Zammo wrote: »

The prices of some of the more delusional sellers are still the same as they were 6 months ago around my way as well. And guess what? Those houses have been sat on the market for the last 6 months.

Funny that.

Maybe they dont need to sell and they can wait for what they think is a fair price for their homes.
Who are you to tell them they are delusional?
After all they own their homes so they can choose whether to accept offers not you.
How many houses do you own?

Funny that not everyone else is like you.

meanmachine_2

Round and round and round it goes.

All the same arguments.

All the same insults - "why don't first time buyers stop buying so many plasmas?!!!" etc etc

"I don't really know what's happening in my area, except I do know my house was worth £353,202 and 99p on Tuesday, not that I care, you know. I don't care how much it's worth, but don't you DARE say it's falling in value. How dare you! Get a job! Stop whinging" etc etc

If you want postcodes I can tell you Surbiton (KT6) is very wobbly at the moment. Stupidly overpriced still, but definitely going in the right direction (down). Anyone who bought there in the summer has probably lost 5% of the property's value.

Zammo

The_Dangerman wrote: »

I bought my first house in 2005 and everyone said I was crazy then, yet it kept on going up. Its upto a point now where implausable that it will EVER be in negative equality.

Nobody has a crystal ball, so even if she realised she could of bought cheaper, it wasn't certain, just like it wasn't certain in 2005 that they were going to go up.

In the words of the Baz Luhrman song "Don't congratulate yourself, or berate yourself either, your choices are half chance, so are everyone else's"

I didn't KNOW houses were going to continue to rise in 2005, but I felt the foudations of the economy were strong and that it was about time I took a seat on the property ride. So far its worked.

Wow, aren't you clever.

Implausible you'll ever be in negative equity because you bought in 05?

Jokes.

shelovestobuystuff

Riq wrote: »

OMG that scared me!!!I have never seen a picture move on the forums before.:eek: :rotfl:

shelovestobuystuff

We are living in our home,bought nearly 7 years ago, which we couldnt afford to buy now.Worth over 200k but what good does that do us unless we want to make ourselves homeless by selling?
I love my house though so am very happy to be stuck here:D