Own up. Do you regret it

eurows

I honestly can't understand such delusion. You're either heavily mortgaged up to your eyeballs, or you're an Estate Agent.

That answers why you have so much time to spend on this site.

Sat in waiting for the repro man or twiggling your thumbs in an EA office.

It crosses my mind that for numbers 60 and 34 in particular, there might be a sniff of "repo" involved...it certainly has to be someone desperate to sell at way below usual asking prices.

I cannot argue with that. Quite possible

I Have cut and pasted some research someone did from another site on auctions.

[/QUOTE]20 wallis street sold for 68K (AUCTION RESULT)

52 wallis street sold for 100k in 2005

2 Hugett Gardens Available for 45k

no. 6 sold for 40k in 2002

4 Loughrigg Close sold for 74k

2 sold for 94k

111 Wilford Crescent East available for 75k

105 sold for 95k in 15/7/2005, 75k brings back to late 2002, early 2003 prices. 111 actually sold for 33k in 2000.

32 Digby Avenue sold for 146k

77 sold for 350k, 60 which is semi sold for 160k, 75 sold for 325k, 81 for for 240k

33 Foxhall Road sold for 66k

16 sold for 109k, 19 sold for 102k, 43 for 116k, 26 sold for 98.5k, prices back to mid 2002 prices.

5 bingley close sold for 81k

1 sold for 95k, 15 sold for 86k, prices back to mid 2003 prices.

3 Springfield Gardens ilkeston Derby available 50k

53 for for 78k, 29 sold for 72k, prices back to mid 2003 prices

12 Mettham Street, Lenton, Nottingham available at 125k terraced

18 sold for 160k, 3 sold for 152k

228 Cinderhill Road, Bulwell, Nottingham available at 300k, 18 bedroom mill house

Must be wrong as post code suggest it is west bridgeford and not bullwell. Prices no way near in bulwell. West Bridgeford has flats in this post code for 240k-280k.

93C Forest Road West, The Arboretum, Nottingham sold for 99k, price guide was 125/150k

75 sold for 454k but was detached, 89a was flat and sold for 82.5k,

40 Main Street, Bunny Nottingham available at 200k is listed buiding

50 sold for 185k, 26 sold for 232k, 12 sold for 272.5k back in 07/10/2003.

6 Bromley Close, Bulwell, Nottingham available at 50k

No sale for street, but bring back bulwell prices back to late 2002 prices, last terraced sold in bulwell for 82k

Auction prices falling will give an indication of how the market will fair.

By the way Bovis homes are selling new build 5 bed houses near me. £354,000. Been up 9 months. They have not sold ONE yet. Houses up on 2004. HUMBUG

deemy2004

House prices amazingly have not fallen much yet. The economy is a lot more robust then I gave it credit for a year ago.

But that as far as I can see all that has happened is thta the enevitable has been delayed.. Just its goign to take that much longer to fall.

But I still think that house prices will fall as the economy continues to slow and work its way towards a recession.

Interest rates at some point, perhaps within the next 6 months start rising again due to the fallign £ and rising inflation which is now hittign 10 year highs.

Doozergirl

eurows wrote:

Auction prices falling will give an indication of how the market will fair.

I have to argue this as auction properties in their nature are not average properties. Each one has to be taken on it's own merit. Prices vary widely according to the situation that makes them generally unsuitable for 'high street' marketing. The cost of the monetary risks to be associated with these houses should be factored out to provide a true inflation figure.

It is also a fact that in the past few years, many auction properties have sold for more than they were worth by misguided people who thought that all auction properties were bargains. It is also true that there are ridiculously overpriced houses out there right now, for sale, by those same people.

The only way to provide reliable information is to take figures from as wide a cross section as possible.

eurows wrote:

105 sold for 95k in 15/7/2005, 75k brings back to late 2002, early 2003 prices.
53 for for 78k, 29 sold for 72k, prices back to mid 2003 prices
1 sold for 95k, 15 sold for 86k, prices back to mid 2003 prices.
No sale for street, but bring back bulwell prices back to late 2002 prices, last terraced sold in bulwell for 82k

The Land registry figures for the city of Nottingham show that average house prices peaked in September - December last year, but are still up on the same period last year and certainly dispute your argument of being in line with 2002/2003 prices.

April - June 2005 £122,644
Sep - Dec 2004 £126,138
April - June 2004 £115,230
April - June 2003 £103,756
April - June 2002 £81,007

I appreciate that you are trying to show us something but you're going to have to come up with something a little more persuasive than a random list of prices to convince us. Especially considering that your figures come from the same source as mine?

FaTB

eurows wrote:

What a load of absolute rubbish.

Under this leadership we have the most amazing levels of debt, rising unemployment (but hidden) and clowns like you running companies.

Couldn't agree more eurows.

This guy is either incredibly naive, or he is a member of the Nu Labour party and is trying to put a bit of positive spin on the situation.

On the face of it we have all had a great time economically in the last 8 years, but this was just another boom which will eventually bust, just BIGGER.

Unfortunately most people still seem to be under the impression that all is well, and the one saving grace of this government is the economy, well we are all gonna get a rude awakening soon !!

It would have corrected itself earlier if interest rates had not dropped post 9/11 and further fuelled the boom.

G.B. promised no more boom n bust, but I think he will be remembered for the biggest of both, and for being the worst chancellor we ever had.

The boom was bigger, so the bust will be bigger

Pal

Personally I think that GB will go down in history as the shortest serving prime minister the UK has ever had.

wibble68_2

Pal wrote:

Personally I think that GB will go down in history as the shortest serving prime minister the UK has ever had.

I'm not so sure about that.

I think Churchill was 5ft 6".

eurows

I don't want to get into pointing out every house dropping in price. If you guys are awake, which I presume you are, you will be able to show me plenty of examples.

Here's another.

http://www.rightmove.co.uk/viewdetails-8128616.rsp?pa_n=5&tr_t=buy

and heres what it sold for in 2004

http://www.houseprices.co.uk/e.php?q=14+Midland+Avenue+Stapleford+Nottingham+NG9+7BT+

and I personally think this house is overvalued by £55,000

There are loads of such examples. They may not be showing in your area yet. But mark my word, ITS COMING and when it comes, boy will we all know about it.

bunking_off

eurows wrote:

and I personally think this house is overvalued by £55,000

I know nothing about Nottingham...don't even know where Stapleford is. Therefore, I can't comment on whether this pricing is out of the ordinary. However, once again you need to read between the lines a little. The house is vacant possession. The vendors are willing to take a part ex. This doesn't indicate to me that this is the average punter selling their own house - it's either an investor/BTL desperate to offload, or (I suspect) a builder having taken this as part ex on a new build.

Once again, taking a look at Rightmove/Vebra the property seems pretty competitively priced - looking at the rear garden, it seems more in line with ones that are going at £180k. £150k *appears* to be the going rate for a 3 bed semi. £55k overpriced is a joke (unless you believe the entire market is overpriced by that much) - do a search for properties in Stapleford from £80k-100k and you get terraced properties, not a 3 bed detached.

The point is, it's dangerous to assert a market trend based on a limited number of examples. The indices vary, but the consensus is that the market is currently going nowhere - not booming, not crashing. I know there are estate agents out there who'd like us to believe that things are business as usual, but no-one believes that. Equally, there are non-home-owners who'd like to portray the situation as the sky falling in, but that's clearly not the case either.

John_M_Business

"You just don't understand... the economics... er... you know, you follow the bull... er... market.

Nottingham today is not that different to Bratislava tomorrow, and prices there are also soaring uncontrollably.

If in 30 years' time Nottingham becomes the next Solden (Austria), which has, in the meantime, gone 'East' to Moldovan levels, then it's a given that the house will only be worth three toothless sheep and a couple of bales of straw.

Just remember: I follow the bull around the world... or does it follow me?"

I am, of course, completely self-accredited to offer this kind of insight by my hard-bought MBA from the University of Pennsylvidao, Nebraska.

Sorry, it's just that the thread is getting a little far-fetched and I thought I'd bring some reality back into the mixer...

kinster_2

god.. don't you hate people with their 'entitlement' mentality? Also, they need to prove to homeowners that property prices have dropped to make them feel better about themselves? what's the point? prices go up and down... do you see homeowners starting threads at the peak saying "how much is your property worth?"