I can't just jump at chances

[moijk]

My entire life has been a number of missed oppunities.

Like recently. we looked at a house, quite a bit bigger than the one we have now, nice neighborhood and all that. only a couple of km away from where I live now. i felt that the total price of that would be too much extra to pay each month so i was hesitatant and we didn't put in a bid.

but we arranged to get our house appreciated. and well. the suggested marked value was HIGHER (this is 20 years newer though) than the one we looked at. And I thought our bank was crazy when they put a higher value on our house when we last did something with our loan.

So if we have been lucky we could have changed house to a bigger one and that with a tiny profit. but did i jump on the chance.. nooo..

On the other hand, i don't mind knowing that the house have raised in value with about 2700 gbp each month we've lived here. Granted, I've put a bit of work into it but not that much. Owning a house is a damn fine investment though.

 

[Zetr0]

Sadly in the housing market, a house is only worth what some one is willing to pay. In a lot of ways in the UK, there has been a false economy within the housing market with artificially inflated house prices.

This has seen houses not sell, and buyers selling at seriously depreciated values, with first time buyers not able to get into the housing market.

 

[AndyLandy]

Sadly in the housing market, a house is only worth what some one is willing to pay. In a lot of ways in the UK, there has been a false economy within the housing market with artificially inflated house prices.

This has seen houses not sell, and buyers selling at seriously depreciated values, with first time buyers not able to get into the housing market.

Sounds like the Amibay prime directive through and through! An item is only worth what someone is willing to pay for it and what someone is willing to accept for it!

 

[Zetr0]

@Andy

I think its the universal truth for the transaction of all things =)

 

[moijk]

Sadly in the housing market, a house is only worth what some one is willing to pay.

True, but the same people appreciated both houses. Given the other house was sold for aprox the value it was appreciated. I would figure a probability that it would have been at worst a small price difference compared to the large i was fearing when i hesitated.

You have to remember the housing prices in Norway are not affected by the depression some EU countries face. the economy here is in a positive turn.

 

[Zetr0]

Interestingly I have family in the building and construction trades.

The average 3 bedroom two story family house costs about £55 per sqaure foot - an average of £75,000 to build (then you got to add land the cost of land)

Obviously this is less if you have a timberframe house.

Interestingly the average land price is £5,700 per acre - although thats out side of cities, in London the average price per acre is £759,000

My cousin whoms a forman for a building / construction company suggest when building your own home, to offest the cost, build a semi detached - this allows you to sell one on as well as reduces heating bills.


Btw, this doens't count as price driving / guiding does it?

 

[DutchinUSA]

Just sold house that I bought in 2002 for $45,000 for $28,000 .. some may say I paid too much for it back then but there wasn't anything available at the time that wasn't either falling apart or infested

And didn't even buy it during the years when prices skyrocketed, it's just that the town it is in is kinda dying but it's where my job was.

I should have just kept renting for a while but oh well

So yeah, I just look at the bright side and am glad I didn't buy a house in 2006 for some ridiculous price like $200,000 and then now have to sell it for $100,000

 

[Ed.D]

Sadly in the housing market, a house is only worth what some one is willing to pay. In a lot of ways in the UK, there has been a false economy within the housing market with artificially inflated house prices.

This has seen houses not sell, and buyers selling at seriously depreciated values, with first time buyers not able to get into the housing market.

Sounds like the Amibay prime directive through and through! An item is only worth what someone is willing to pay for it and what someone is willing to accept for it!

Andylandy and Zetro, with respect gents, I have to disagree a little here. I've seen the statement about an item's worth posted quite a number of times. Perhaps I'm of an old school that feels an item has a cost to produce it and a retail value, therefore it's resale value must be relative to a "used" item. I just feel that repeating the "something is worth what people will pay for it" is helping to reinforce some of the very high prices some folks are asking for used hardware items and is itself a kind of price driving. Just my honest opinion and my apologies for taking the thread OT.

 

[AmiNeo]

I think Amibay's policy in respect to "worth only what the buyer and seller are willing to buy / sell it for" (respectively), is more a way of saying, "You can ask whatever you like for it but if it's too high / unfair, don't expect it to sell unless you're willing to revise it. We only want what people see as fair prices here."

At least that's the way I see it.

 

[Zetr0]

@Ed.D

Getting away from the social economics, the real crux is simple - if no one wants to pay XXX for an item, then its not woth that amount - otherwise people wouldn't need to reduce prices and evaluations would be the words of gospel.

Say I had a Super Widget, and I put a price on for $100 AmiDollars - if no one buys it, then clearly its not worth that amount of $AD's

However if I had the Super Widget 2 and I priced it at $50 AmiDollars and it sells like hot-cakes, then I have found a selling point - pending the cost of the Super Widget 2 to make then one can argue if its good or not.

AmiBay isn't about forcing people to accept less for their items at all, we are only here to help facilitate safe trade within our community - without the eBay and other auctions that gouge funds from our hobby.