Re: message to Tumbleweed


"biggirlsblouse" <big.girl@xxxxxxxxx> wrote in message
news:hePtg.2846$i32.1689@xxxxxxxxxxxxxxxxxxxxxxx
My late mothers house has finally been sold after 18 months on the housing
market... original asking price £145k, dropped to £135k after xmas 2005
due to falling market and excess supply in the area, offer accepted of
£130k.
And all for a 3 bedroom detached bungalow in a desirable quiet village
with a pub, chinese takeaway, village store and post office.
Also... 8 miles away nearly new houses are being sold on for prices lower
than the owners paid to the builders.
Negative Equity is back again in Scunthorpe.



If you'd put that house on the market at 135k 18 months ago, would it have
been snapped up? Were you just asking too much? Looking at house prices in
the area, 130k is high compared to some of them! Just been looking at house
prices in Scunny (on 'nethouseprice') the prices are incredible to someone
from "The South". a detatched house for 47k, unbelievable! Must be an area
with little employment? You say 'falling demand and oversupply' but its all
down to the local situation, where i live (near Reading) they are infilling
like crazy,and selling them.

Example, 2 bed flat, [50% ownership with housing assoc], £100k. New 2 bed
flats go for £220k or so, older from 170k upwards. Its a different world.

We are just about to put a house on the market will be interesting to see
how long its on sale for, its down on the south coast. I would expect to
get very close to the asking/valuation price, (just about double yours)
which seems fair looking at similar houses. AFAICS the prices are roughly
static there and have been for the past year or so.

Oh, and there _still_ hasn't been a house price crash and we are more than
half way through the year, I dont see the merchants of doom posting every
day now?
--
Tumbleweed

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