Tuesday, September 25, 2007

How I feel after loosing the bidding for Nibblevägen 8b


This is a swedish comic strip from today, very fitting.

Free translation: first picture something like " I feel so bad for the people we´re bidding against, I hope we can match their bidding limit. Next strip, I hate these people, why cant their money run out soon. "

EH

By the way, the bidding stopped at 2520000 SKR.

7 comments:

PP said...

Too bad! Are all houses in Sweden sold with this "bidding" thing? That is not common at all here, its is rare that people pay over the asking price.

LS said...

Oh, poor you. The prices are amazingly high - maybe better to wait until they go down soon? What a terrible disappointment though, and that house looked so great.

EH said...

Oh, do you know something LS? will the prices go down?
I don´t really think the prices will go down, people i Stockholm-area are paid a lot and there´s not much houses below 2,3 miljons SEK.

And PP, yes, in highly populated areas like here it´s all bidding. In the rest of the country you can buy a house for virtually nothing, but there´s no jobs there.

LS said...

Yep, I know something. Maybe not about houses, but lots about other things :)

But, the truth is that the prices are falling in the US, and that the house market in Sweden is considered overvalued, and many people in Europe are waiting for the big bang when prices fall in Sweden too, especially in the Stockholm area. I read about this in the Economist and Newsweek, but I don't know any details. One of the reasons is that it has been too easy to get loans, and now people can't pay and the banks are having trouble here in the US - there are more foreclosures and more unsold houses than ever. I think Sweden will follow... it is just a matter of time. So take it easy, don't rush...

EH said...

We have a good security limit, the bank is willing to loan us more than we feel we can afford...which says a lot about how the banks in Sweden are putting peoples lifes at risk economically. They´ve done it before, so I suppose they don´t hesitate to do it again.

But then I don´t know, people who has sold an apartment in Stockholm with 2,5 million SEK profit, wont hesitate to pay a lot for a house. These are the kind of people we have against us, and there a lots of people at all the house showing occasions.

EH

Olle said...

I doubt very much that there will be a fall in Stockholm house prices. Maybe they will stagnate if the economic cycle turns down - it happened when we owned the house in Jordbro. It took 8 years (at least) until the market price of it raised above what we had paid. But it was never much lower either.

It is nerve-recking to bid for houses of flats, I know it well! And then losing what you really have put your dreams into. But there will be more houses and maybe you will be in a better bidding company then...

LS said...

Maybe the problem is that everybody want to live in a few specific areas? Or why are the prices so high? We live in an area that have horrendous house prices too, and it is even worse in Hawaii, California, and closer to New York. But at least prices here are stabilizing. It is all about location, location, location... I guess. But that house prices should nearly double in 5 years doesn't seem normal to me, it sounds like a bubble that will burst eventually. I guess the real question is, are houses over-priced or not, in the long run? It is not only what people are willing to pay, but also what they really are worth, the houses I mean.