Re:Are short-term home sellers screwed?
by faisalkhalid80 on Tuesday January 09, 2018 @07:12AM
(#16105549)
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?
by arethuza on Tuesday January 09, 2018 @07:16AM
(#16105584)
Did you combine data from the 3 UK registries (England & Wales, Scotland and Northern Ireland)?
Re:Are short-term home sellers screwed?
by faisalkhalid80 on Tuesday January 09, 2018 @07:18AM
(#16105592)
The analysis is just for London
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.
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?
by faisalkhalid80 on Tuesday January 09, 2018 @07:11AM
(#16105542)
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.
- 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.