Are short-term home sellers screwed?
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Are short-term home sellers screwed?
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Re: Are short-term home sellers screwed?
#2I'm not sure whether I understand (or trust) this analysis.
- If I buy an house and resell it within a year, barring extreme circumstances, I'm probably a real estate investor/professional; maybe it's the fact that I was able to buy a property which I felt was underpriced, then maybe I did some minimal "rejuvenating" modifications, and sell it at a premium.
- We don't see the negative data; how many properties were on sale and were not sold? We're very likely to introduce a bias, otherwise, because I suppose very few people would sell at loss, hence we see few sales at less than purchase price.
Re: Are short-term home sellers screwed?
#3I'm not sure whether I understand (or trust) this analysis. - If I buy an house and resell it within a year, barring extreme circumstances, I'm probably a real estate investor/professional; maybe it's the fact that I was able to buy a property which I felt was underpriced, then maybe I did some minimal "rejuvenating" modifications, and sell it at a premium. - We don't see the negative data; how many properties were o…
I noticed that there seemed to be a lack of detail about other factor that may have affected the price. Are the properties being sold at the same time of year? As you say selling in such a short time period may be indicative of buying, some simple rejuvenation and selling again.
Re: Are short-term home sellers screwed?
#4I'm not sure whether I understand (or trust) this analysis. - If I buy an house and resell it within a year, barring extreme circumstances, I'm probably a real estate investor/professional; maybe it's the fact that I was able to buy a property which I felt was underpriced, then maybe I did some minimal "rejuvenating" modifications, and sell it at a premium. - We don't see the negative data; how many properties were o…
Its worth noting that the story seems to have been written by an estate agency, and there would therefore be an interest in encouraging property transactions.
Re: Are short-term home sellers screwed?
#5I'm not sure whether I understand (or trust) this analysis. - If I buy an house and resell it within a year, barring extreme circumstances, I'm probably a real estate investor/professional; maybe it's the fact that I was able to buy a property which I felt was underpriced, then maybe I did some minimal "rejuvenating" modifications, and sell it at a premium. - We don't see the negative data; how many properties were o…
Its worth noting that the story seems to have been written by an estate agency, and there would therefore be an interest in encouraging property transactions.
Hm, no we are not an estate agency :) Not yet. I was just curious about whether the widely held belief that short term sales are disadvantageous to home owners is true or not, thats what motivated the post.
Re: Are short-term home sellers screwed?
#6I'm not sure whether I understand (or trust) this analysis. - If I buy an house and resell it within a year, barring extreme circumstances, I'm probably a real estate investor/professional; maybe it's the fact that I was able to buy a property which I felt was underpriced, then maybe I did some minimal "rejuvenating" modifications, and sell it at a premium. - We don't see the negative data; how many properties were o…
Negative data would be very helpful, unfortunately its harder to get. The data I used was from Land Registry UK which only captures successful transactions.
Re: Are short-term home sellers screwed?
#7Re: Are short-term home sellers screwed?
#8I really love articles like "are people who screwd?" This gives the impression for these people that they are doing something totally normal, and that it is the world screwing them.
You never ever want to sell a home you live in short-term. You only do that if you really don't have another choice. It's probably your biggest investment. You probably bought a bigger home than you can afford. Sell it for what it's worth and invest the time. The costs of selling too quickly might be retiring at 55 years of age or at 65 years of age.
And if you decide to go the easy route anyway then it was you who screwed you. As said before being in a f*d up situation otherwise might be an exception. But it might also be a sign that you do in general not the sensible thing.
Re: Are short-term home sellers screwed?
#9I'm not sure whether I understand (or trust) this analysis. - If I buy an house and resell it within a year, barring extreme circumstances, I'm probably a real estate investor/professional; maybe it's the fact that I was able to buy a property which I felt was underpriced, then maybe I did some minimal "rejuvenating" modifications, and sell it at a premium. - We don't see the negative data; how many properties were o…
Negative data would be very helpful, unfortunately its harder to get. The data I used was from Land Registry UK which only captures successful transactions.
Did you combine data from the 3 UK registries (England & Wales, Scotland and Northern Ireland)?
Re: Are short-term home sellers screwed?
#10Earlier quoted context omitted.
Negative data would be very helpful, unfortunately its harder to get. The data I used was from Land Registry UK which only captures successful transactions.
Did you combine data from the 3 UK registries (England & Wales, Scotland and Northern Ireland)?
The analysis is just for London