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I'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
by alanfranzoni 9y ago
I'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.
- collyw 9y agoI 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.
- fergie 9y agoIts 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.
- faisalkhalid80 9y agoHm, 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.
- fergie 9y agoSincere apologies. I saw "Our mission is to make home buying and selling easier" and jumped to conclusions.
- faisalkhalid80 9y agoNegative data would be very helpful, unfortunately its harder to get. The data I used was from Land Registry UK which only captures successful transactions.
- arethuza 9y agoDid you combine data from the 3 UK registries (England & Wales, Scotland and Northern Ireland)?
- faisalkhalid80 9y agoThe analysis is just for London