whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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After a few stressful weeks finally secured a sale on my house so fingers crossed
Market seems very up and down at the moment its crazy
Anyone else experienced good or bad aspects of the market at the moment
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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my mates neighbour just sold her property for 30k under the asking price. was only up for about 300k, so 10% off is a big drop. way under market value.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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Not really, if £270k was the maximum anyone was willing to pay that is market value. Asking price is just a figure plucked from the air.
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Ben G
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Registered: 12th Jan 07
Location: Essex
User status: Offline
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the price was the price of all the houses around the area, this one was a corner plot with a side extension.
i know what it's worth because i've lived around that area for 15 years.
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John
Member
Registered: 30th Jun 03
User status: Offline
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Asking prices are notoriously high just now.
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Dave
Member
Registered: 26th Feb 01
Location: Lancs
User status: Offline
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If 300k was the market value that's what it would've sold for. I'm not saying it wouldn't have been the correct price 1/2 years ago but obviously not now.
Whilst it's bad news for people selling houses that values are going down they were artificially inflated and have been for some time anyway. Besides which, if they got the same amount off the house they were moving to it's irrelevant.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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all it means is that someone got a bargain. this isn't the north, houses actually command decent prices here, being just 10-15 minutes from london.
i do understand your point though.
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John
Member
Registered: 30th Jun 03
User status: Offline
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Is it a 1 bed flat being 270k 15 mins away from London?
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Dave
Member
Registered: 26th Feb 01
Location: Lancs
User status: Offline
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You can see how much guesswork goes into house prices simply by watching the like of Property Ladder. Often valuations varied by 50k on a 250k house for example.
What you are probably seeing is a combination of less buyers out there and more realistic values being applied.
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John
Member
Registered: 30th Jun 03
User status: Offline
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A lot of guesswork goes into it because estate agents are basically estate agents because they can't get a skilled job.
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Online
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Surveyors are just as bad.
Corsa 2.0 16v Vegas - Sold
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SXIBLK
Member
Registered: 9th Feb 10
Location: Barnoldswick
User status: Offline
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bought a property a few month back and repossession is the way to go if there's a nice one near you as we got a massive chunk knocked off
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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well its all going through fingers crossed
Didn't get what i wanted for mine but got more off the property that is being bought so in the grand scheme of things its balanced out correctly
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