racing_ralph en-US Sun, 12 Feb 2012 12:10:00 +0000 http://bbpress.org/?v=1.0.2 q http://singletrackworld.com/forum/search.php http://singletrackworld.com/forum/topic/house-next-doo-just-sold/page/2#post-1931400 Sun, 24 Oct 2010 15:08:25 +0000 Woody 1931400@http://singletrackworld.com/forum/ <p><blockquote>Doesn't matter what house prices are so long as you are buying and selling in the same market.</p> <p>But I reckon they still have a long way to go down.</blockquote></p> <p>Spot on, which is why I'm not too worried about waiting until next year at least before getting back on the ladder. Houghton-le-Spring may well dip a bit more but as long as you want to buy around there you shouldn't lose out, especially as that price is 1st time buyer territory. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold/page/2#post-1931349 Sun, 24 Oct 2010 14:44:40 +0000 Frankenstein 1931349@http://singletrackworld.com/forum/ <p>£120 is a bargain£</p> <p>I should have stated ebygomm - houses smaller than mine in the same street are being sold 25-35K more than what I paid and yes their sfor sale price was much higher and being knocked down so I am still chuffed but if I wanted to sell I should have done so in 2007 but I am to be tight fisted.</p> <p>For me best to rent, take out a mortagage on the property and pay a 30K deposit near the local Uni with 3-4 bed rooms and fix it up fit for King or student prince anyway. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1931066 Sun, 24 Oct 2010 10:59:46 +0000 b r 1931066@http://singletrackworld.com/forum/ <p><em>What - my flat is worth maybe 200 000 for a one bed flat. Rebuild cost is 350 000. Just my share of the renovations are going to be 40 000 a flat.</p> <p>Are you sure you are not underinsured? </em></p> <p>TJ, as said that was a few years ago.</p> <p>A detached house is cheaper to rebuild (and insure) than a semi,terrace or flat for the obvious reason that in the event of a disaster the insurance is only paying to rebuild one property - not two,three or (as in a flats' case, a number).</p> <p>I've always had buildings insurance with my mortgage company; its their valuation and their house <img src="http://singletrackworld.com/forum/my-plugins/bbcode-buttons/default/icon_wink.gif" title=":wink:" class="bb_smilies" alt=""/> The saving of moving to a cheaper company its worth the bother - we only pay £120 pa. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1931056 Sun, 24 Oct 2010 10:50:04 +0000 molgrips 1931056@http://singletrackworld.com/forum/ <p><blockquote>Doesn't matter what house prices are so long as you are buying and selling in the same market.</blockquote></p> <p>You have to have equity though. I don't care about my house going down in value so much, but I DO care about having bugger all equity, because it limits my ability to move. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930964 Sun, 24 Oct 2010 09:48:36 +0000 epicyclo 1930964@http://singletrackworld.com/forum/ <p>Valuations are just sophisticated guessing and often meaningless in a turbulent market.</p> <p>The only truth is the price agreed to between the buyer and seller. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930848 Sun, 24 Oct 2010 08:42:41 +0000 ebygomm 1930848@http://singletrackworld.com/forum/ <p><blockquote>My place is still valued at going rates of 25-35K more than what I paid </blockquote></p> <p>Valued means nothing though, especially in this climate. One of my mum's friends got her place valued, 3 different estate agents, lowest was 180k highest 280k. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930836 Sun, 24 Oct 2010 08:40:07 +0000 epicyclo 1930836@http://singletrackworld.com/forum/ <p>Doesn't matter what house prices are so long as you are buying and selling in the same market.</p> <p>But I reckon they still have a long way to go down. Many of the places currently insulated from the current downturn have a high government employment proportion, but now that it going to take a big hit.</p> <p>Part of the house value slide over the last few years has been hidden in the depreciation of the £.</p> <p>In a few years this will be regarded as a political coup - our leaders will be saying "houses have never been so affordable, aren't we wonderful etc..." </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930727 Sun, 24 Oct 2010 07:42:02 +0000 ivnickkate 1930727@http://singletrackworld.com/forum/ <p>Josh, Don't let the price decrease get you down, enjoy life and see what the next 3 years bring. </p> <p>I was in a similar position in late 90's, sold a flat for about the same as we paid for it,[moved into a tied house], then watched house prices triple. I still regret not renting it out. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930511 Sun, 24 Oct 2010 00:18:42 +0000 Frankenstein 1930511@http://singletrackworld.com/forum/ <p>TJ is right! ( ahhhh <img src="http://singletrackworld.com/forum/my-plugins/bbcode-buttons/default/icon_biggrin.gif" title=":D" class="bb_smilies" alt=""/> )</p> <p>I bought dead cheap in 2004 not the worst area but you still lock everything up before going to bed! and wtf was that noise!</p> <p>I repaired my dump/house as it was in a bad state but did the labour myself on a weekends for 8 months of hell/radio/paint/swollen thumbs and the price rose by 60K in 2007 and I had buyers offering etc but instead rented out 3 rooms while I lived there due to work -which has now dried up from Quango cuts in my field! ahhg! no money! </p> <p>My place is still valued at going rates of 25-35K more than what I paid so I can afford to sell cheap and buy cheap elsewhere -depending on the area. I'm moving and will move alot due to job changes in future with short term contracts and bloody cuts in my field so I might as well rent the bugger out but I will have to use a bloody agent -taking his cut.</p> <p>I have no mortgage on this property now so I'm in a position to sell but not everyone is and I do feel sorry for them. </p> <p>My point Mr Smith, is that it depends on your location and how much you paid and some/loads of luck/gamble/analysis. Been lucky on property but out of luck on funding my career thanks to Banking Crisis cuts etc but you just have to get off your backside and fight/work!</p> <p>Tempted to take out a mortgage in 5 yrs and buy something else and have a portfolio of property as the 16 yr old mums keep sprouting! And have a chain to sell by the time I'm 45 for a million pounds - dreaming... </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930473 Sat, 23 Oct 2010 23:20:42 +0000 TandemJeremy 1930473@http://singletrackworld.com/forum/ <p>Mr Smith - depends on area. prices are steady and property is selling here </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930472 Sat, 23 Oct 2010 23:19:47 +0000 TandemJeremy 1930472@http://singletrackworld.com/forum/ <p><blockquote>A few years ago; we paid £150k for our house, and the rebuild cost (from the mortgage company who supplied the buildings insurance) was £42k... </blockquote></p> <p>What - my flat is worth maybe 200 000 for a one bed flat. Rebuild cost is 350 000. Just my share of the renovations are going to be 40 000 a flat.</p> <p>Are you sure you are not underinsured? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930348 Sat, 23 Oct 2010 22:13:09 +0000 skidartist 1930348@http://singletrackworld.com/forum/ <p><blockquote>Then how about Plan B then?</p> <p><img src="http://www.gallagherstravels.com/States/DC/spymuseum/classified/images/karsonDisguise.jpg"><br /> <img src="http://t0.gstatic.com/images?q=tbn:ANd9GcTCZ4C6u4XfvGNoMWApJZiaJGU-8rSwoX0KEux1Y_g3PR7j1Oc&amp;t=1&amp;usg=__RbfJSVLupudxatUMktSuyt131Ao="><br /> <img src="http://www.theproadvisor.com/wp-content/uploads/2009/09/insurance-policy1.jpg"><br /> </blockquote></p> <p>Not strictly in that order though </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930339 Sat, 23 Oct 2010 22:08:58 +0000 MrSmith 1930339@http://singletrackworld.com/forum/ <p><blockquote>as prices are steadying but should they rise I will be ready to sell.</blockquote></p> <p>what if they fall? (some more)</p> <p><blockquote>Demand for property is high</blockquote></p> <p>then why are all the properties i looked at through the summer still on the market now even though they keep knocking off 10k here and there and moving agents? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930335 Sat, 23 Oct 2010 22:08:04 +0000 molgrips 1930335@http://singletrackworld.com/forum/ <p>I'd like to move, but I'm proabably borderline negative equity. Gonna take a few years to save up money to pay more off the mortgage I reckon. So that the mortgage people will talk to us. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930331 Sat, 23 Oct 2010 22:06:33 +0000 Frankenstein 1930331@http://singletrackworld.com/forum/ <p>Wish I did sell in 07 as now my place is worth 20K less but I am moving and renting out for my place for the next 3 yrs as prices are steadying but should they rise I will be ready to sell.</p> <p>Demand for property is high especially for rent and rents are rising in my area where not enough properties are available for rent or sale. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930312 Sat, 23 Oct 2010 22:00:09 +0000 aka_Gilo 1930312@http://singletrackworld.com/forum/ <p>That's quite scary. Where I am (south Bristol) house prices have barely dropped from 3-4 years ago. Very little is going on the market but what does sells quickly for at most 5% less than the top of the market. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930256 Sat, 23 Oct 2010 21:44:45 +0000 CaptJon 1930256@http://singletrackworld.com/forum/ <p>Why not wait and see what happens in the next 3 years before worrying about it? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930187 Sat, 23 Oct 2010 21:20:20 +0000 josh1982 1930187@http://singletrackworld.com/forum/ <p>hartlepool is closest....i am in houghton le spring.....good guessing </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930183 Sat, 23 Oct 2010 21:18:25 +0000 Edric 64 1930183@http://singletrackworld.com/forum/ <p>What Ghetto do you live in for houses to be so cheap? Somewhere crap like Merthyr Tydfil or Hartlepool? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930163 Sat, 23 Oct 2010 21:12:51 +0000 allthepies 1930163@http://singletrackworld.com/forum/ <p><blockquote>Yeah, well, I did just say that...</blockquote><br /> You are so AWESOME that I had to copy. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930161 Sat, 23 Oct 2010 21:11:55 +0000 Eyepic 1930161@http://singletrackworld.com/forum/ <p>Could be the neighbours.... You had nice ones.... then you moved in and the value went down?.... </p> <p>If you move out the value of your house goes up!!!!</p> <p>Sorry just saying than for kicks... you may be great neighbours... or come to think of it .... never a true word etc??</p> <p>No I think you must be nice folks.... you ride a bike don't you? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930160 Sat, 23 Oct 2010 21:11:42 +0000 djglover 1930160@http://singletrackworld.com/forum/ <p><blockquote>Seems a tad extreme</blockquote></p> <p>Yeah, well, I did just say that... </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930158 Sat, 23 Oct 2010 21:10:19 +0000 allthepies 1930158@http://singletrackworld.com/forum/ <p><blockquote>Default on the mortgage, get evicted and go bankrupt, at least that way you will rub out the 30K.</blockquote></p> <p>Seems a tad extreme when you're happily living in a house you can afford. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930149 Sat, 23 Oct 2010 21:06:06 +0000 djglover 1930149@http://singletrackworld.com/forum/ <p>Default on the mortgage, get evicted and go bankrupt, at least that way you will rub out the 30K.</p> <p>OK, thats a bit extreme, but maybe thats what your neighbour did? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930147 Sat, 23 Oct 2010 21:05:05 +0000 Stoner 1930147@http://singletrackworld.com/forum/ <p>m_f - not entirely correct yerself there <img src="http://singletrackworld.com/forum/my-plugins/bbcode-buttons/default/icon_wink.gif" title=";)" class="bb_smilies" alt=""/> </p> <p>The value of a house is set by the local market.</p> <p>While the cost of the build will be fairly consistent. Once you allow for a builders profit (as a proportion construction costs) the balance in the equation falls to the land. This is known as the residual - and is the whole reason that "affordable housing" cant work without massive legal constraints on ownership candidates etc.</p> <p>i.e. Land Value = House Price - Construction cost - (construction cost x 20%) </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930123 Sat, 23 Oct 2010 21:00:01 +0000 josh1982 1930123@http://singletrackworld.com/forum/ <p>lets just say the plan was to stay here until our son was 5/6 and he is 3 now........we paid 87500 and next door has just sold for 45000 which leaves us in about 30k negative equity......ball ache.....think i will get the kitchen done seeing as we will be here a while! </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930120 Sat, 23 Oct 2010 20:59:34 +0000 matt_outandabout 1930120@http://singletrackworld.com/forum/ <p>I just bought a house. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930110 Sat, 23 Oct 2010 20:56:40 +0000 mastiles_fanylion 1930110@http://singletrackworld.com/forum/ <p><blockquote>mrmichaelwright - Member<br /> mcmoonter -<br /> pretty sure that won't work, the cost of building a house has remained pretty static iirc, it's the land to put it on that costs<br /> POSTED 5 MINUTES AGO # REPORT-POST<br /> </blockquote><br /> Not entirely true ( unless you build yourself). A builder will charge what they can get away with so charge more when working in what they perceive to be more affluent areas. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930109 Sat, 23 Oct 2010 20:56:37 +0000 mcmoonter 1930109@http://singletrackworld.com/forum/ <p><blockquote>mrmichaelwright - Member<br /> mcmoonter -</p> <p>pretty sure that won't work, the cost of building a house has remained pretty static iirc, it's the land to put it on that costs<br /> </blockquote></p> <p>Then how about Plan B then?</p> <p><img src="http://www.gallagherstravels.com/States/DC/spymuseum/classified/images/karsonDisguise.jpg"></p> <p><img src="http://t0.gstatic.com/images?q=tbn:ANd9GcTCZ4C6u4XfvGNoMWApJZiaJGU-8rSwoX0KEux1Y_g3PR7j1Oc&amp;t=1&amp;usg=__RbfJSVLupudxatUMktSuyt131Ao="></p> <p><img src="http://www.theproadvisor.com/wp-content/uploads/2009/09/insurance-policy1.jpg"> </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930106 Sat, 23 Oct 2010 20:55:56 +0000 b r 1930106@http://singletrackworld.com/forum/ <p>A few years ago; we paid £150k for our house, and the rebuild cost (from the mortgage company who supplied the buildings insurance) was £42k... </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930098 Sat, 23 Oct 2010 20:54:32 +0000 mastiles_fanylion 1930098@http://singletrackworld.com/forum/ <p>Is it identical to yours or does it need total renovation? Of course house prices have also dropped but there are other factors in play too. </p> <p>BTW - was that the advertised or sold price?? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930093 Sat, 23 Oct 2010 20:53:23 +0000 chunkymonkey 1930093@http://singletrackworld.com/forum/ <p>Are you wanting to move? I would have thought it's only a problem if you decide to move now, God only knows where the price's will be in three years from now. </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930090 Sat, 23 Oct 2010 20:52:34 +0000 mrmichaelwright 1930090@http://singletrackworld.com/forum/ <p>hmm, perhaps a little more cunning than i gave him credit for <img src="http://singletrackworld.com/forum/my-plugins/bbcode-buttons/default/icon_lol.gif" title=":lol:" class="bb_smilies" alt=""/> </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930084 Sat, 23 Oct 2010 20:50:47 +0000 CharlieMungus 1930084@http://singletrackworld.com/forum/ <p>That's the trick, mcmoonter has it! With his method, you don't need to buy the land! </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930079 Sat, 23 Oct 2010 20:48:43 +0000 mrmichaelwright 1930079@http://singletrackworld.com/forum/ <p>mcmoonter -</p> <p>pretty sure that won't work, the cost of building a house has remained pretty static iirc, it's the land to put it on that costs </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930078 Sat, 23 Oct 2010 20:48:42 +0000 MrSmith 1930078@http://singletrackworld.com/forum/ <p>well if you lose half the value then the next one you buy will have come down 50% too.</p> <p>doesn't look like they will be going up anytime soon</p> <p><img src="http://www.housepricecrash.co.uk/graphs/generated/homepage.png"> </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930069 Sat, 23 Oct 2010 20:46:33 +0000 allthepies 1930069@http://singletrackworld.com/forum/ <p>Do you need to move ? </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930063 Sat, 23 Oct 2010 20:44:47 +0000 uplink 1930063@http://singletrackworld.com/forum/ <p><blockquote>.how do i move in the next three years now? </blockquote></p> <p>don't - you still have the same house, nothing lost </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930060 Sat, 23 Oct 2010 20:44:40 +0000 CharlieMungus 1930060@http://singletrackworld.com/forum/ <p>buy the one on the other side </p> http://singletrackworld.com/forum/topic/house-next-doo-just-sold#post-1930058 Sat, 23 Oct 2010 20:44:14 +0000 mcmoonter 1930058@http://singletrackworld.com/forum/ <p><img src="http://cache2.allpostersimages.com/LRG/21/2159/IY4CD00Z.jpg"> </p>