House buying advice please

Doozergirl

towseriv wrote:

I know that the house is worth whatever in todays market but thats why I am trying to track down a little general info on % increase's 21% seems a bit steep.

According to the Land Registry, in the period April - June 2003 the average terrace house in Lincolnshire cost £79,630. In the same period 2005, that house costs £104,938.

You can narrow down even further by area, but the initial price is virtually identical to what you say they paid! That's an increase (forgive my maths?) of 31.8%. I didn't think 21% would be steep. Makes their asking price appear reasonable though. You need to do more local research before offering £87k!

skintchick

Got to agree - what they paid is irrelevant.

I paid £84,000 for my house nearly seven years ago but they sell for £210,000 now, so if someone offered me, say, £90,000-odd I'd laugh in their face! And not take them seriously.

You need to offer a sensible price in the light of the local market.

towseriv

I know that, thats exactly why I was asking a questioning. But I tell you what I just wont bother asking since all some of you can do is tell me how much your houses have increased.

thanks for the info peeps sorry for asking questions

terrierlady

sorry you feel like that but the guys are right, a few have mentioned good sites for you to view to confirm local prices but various thing account for that info how close the home is to local school catchment area/ location.location.location etc, even two sides of the same street may vary in price
Don't stop asking questions... its how we all learn.. no one knows everything .

HGLTsuperstar

towseriv wrote:

I know that, thats exactly why I was asking a questioning. But I tell you what I just wont bother asking since all some of you can do is tell me how much your houses have increased.

thanks for the info peeps sorry for asking questions

Hey touchy! Some people do have a tendency to wonder off the thread in the replies, but any feedback is good feedback and going off in a huff this time may mean you miss out on a really helpful reply to this or another query at a later date. Remember we are all here to help each other, sometimes you may be told things you don't want to here, other times you may not get a reply at all but let's please keep it friendly and in the spirit that the board was intended for. :beer:

Doozergirl

:wall:

towseriv wrote:

what % increase in house prices has occured between 2003 and now? Anyone know please?

You asked a specific question and I went to the specific job of checking the Land Registry for official statistics, specifically for you. And you complain that we don't help? Let me simplify my previous post. Terraced houses in Lincolnshire have increased by 31.8% over the last two years. I think that answered your question pretty well.

towseriv

Sorry Doozergirl my rant was not aimed at you. You were very helpfull. Plus you went out of your way for me which was nice of you. I wasn't meaning to rant at you. In fact I should of thanked you for your input.

Doozergirl

Apology accepted

Sometimes, we talk rubbish, sometimes we wander off thread :rolleyes: , but sometimes we can answer questions too. We all have our moments

socks_uk

Towseriv,

The house prices websites are good if you can be sure the houses are or were 'like for like'. The problem I see is that You can't be sure if, for example, no. 43 in a street was an immaculate showhouse and sold for £10,000 more than no. 45 which was a deceased estate that the little old lady hadn't done anything in it since her husband died 20 years ago!
Did no. 43 have a conservatory? Did no. 45 have a chocolate brown bathroom suite? (God, I did up until 4 years ago!!)

I have a 3 bed terrace for sale in North East Lincolnshire and there are 8 houses for sale in my street (out of 130 in the street). The cheapest is a 2 bed for £64,000 the most expensive a 3 bed for £84,000. Mine is for sale at £72,500 (want to live in Grimsby anyone?)

Jill

towseriv

Thanks Sock. Already had the thought of moving back to Grimsby since thats were I come from. Seems to be the only place in the WORLD were prices are reasonable.