venders wont budge on price after crash

linda4767

Yes, i did have an offer excepted in late feb, but now the property is worth less so i have offered less. It is a difficult one your right but i will hang on and keep looking around for something similar unless they come down to a more realistic price .

MissMoneypenny

sam1970 wrote: »

i was planning to sell at the begining of this year but i did not even put the house i the market when i found that i will be swamped by opportunistics trying to buy my house on the cheap...i was planning to move to australia but now decided to postpone the move for a while..

You are not alone. Many people on the britishexpat list are having problems selling. Those that have sold seemed to have dropped their prices. Those that haven't sold are having to validate (expensive) but are still worried about their visas expiring before they sell.

neverdespairgirl

sam1970 wrote: »

i was planning to sell at the begining of this year but i did not even put the house i the market when i found that i will be swamped by opportunistics trying to buy my house on the cheap...i was planning to move to australia but now decided to postpone the move for a while...i have no problem paying my mortgage so i am not desperate to sell as you think.

have you heard the news on bbc today that the house prices will rise by 25% in the next 5 years (according to parlimentary committee)...dont tell me it is rumors as i think the same of the predictions that prices will fall further:D

That report says:

Average house prices in England are set to rise by 25% by 2013, a National Housing Federation report says.
It sees prices falling 4.4% in 2008, 2.1% lower in 2009, recovering by 2010 and rising at over 9% in 2012 and 2013.

House price are already down more than 6%, so the 4% this year looks odd, to say the least!

I didn't say you were desparate to sell - that was your phrase, not mine.

"Opportunists" - people willing to pay the market value, I presume?

Sam_BMN

"Tell them to shove off" ??? You make it sound like the vendors are calling you 5 times a day to ask you to buy their house. It's their property, they can do with it what they please. It's pretty short sighted of them to not respond to the state of the housing market because in the end they'll have to drop their price even further if they really want to sell, but they're free to be as stupid as they want like the rest of us.

boinging_2

linda4767 wrote: »

Yes, i did have an offer excepted in late feb, but now the property is worth less so i have offered less. It is a difficult one your right but i will hang on and keep looking around for something similar unless they come down to a more realistic price .

But using this train of thought, you will want another reduction from the offer accepted as completion could take another 2 - 3 months and the market will still be dropping.

If you are looking for an investment then I agree fight hard or walk away, if it's a family home that ticks every box then why not go back with another offer that's higher than your last one but lower than original?

guyb99

We're also trying to emigrate and have dropped our asking price to £169995 (worth about £175k) to get the move. Had our first offer today - £155k!

Knocked it back, as our bottom, bottom line is £167k to clear mortgage and secured loan. Came back with a second and final offer - £160k.

Yes, prices are falling but some people will believe anything they read. People aren't running out in the street begging them to take their houses off them, certain areas are devaluing less than the national, in some areas, they are holding or rising.

Some people are overpriced but on the other end of the scale, some buyers (and EA's encouraging them) are just being cheeky. Anybody buying a house today will do very well if they hang onto it for 2 years or so.

linda4767

Sam_BMN wrote: »

"Tell them to shove off" ??? You make it sound like the vendors are calling you 5 times a day to ask you to buy their house. It's their property, they can do with it what they please. It's pretty short sighted of them to not respond to the state of the housing market because in the end they'll have to drop their price even further if they really want to sell, but they're free to be as stupid as they want like the rest of us.

No, their agents were calling me every other day to see how my house sale was going since i reduced the price, their responce when i offered a lower price was not really very polite, "we are not budging therefore we think this may not be the house for you" so yes i do feel like saying shove off..!:j when we are talking about nearly 240k

bubblesmoney

sam1970 wrote: »

i was planning to sell at the begining of this year but i did not even put the house i the market when i found that i will be swamped by opportunistics trying to buy my house on the cheap...i was planning to move to australia but now decided to postpone the move for a while...i have no problem paying my mortgage so i am not desperate to sell as you think.

have you heard the news on bbc today that the house prices will rise by 25% in the next 5 years (according to parlimentary committee)...dont tell me it is rumors as i think the same of the predictions that prices will fall further:D

maybe they are desperately trying to talk up the market before they lose their parlimentary seats in the next elections. afterall they all have their 2nd homes bought with taxpayers 'subsidies' to sell fast before their values decrease even further. nothing more motivating for a politician if his purse is on the line

halia

Its a funny question this one of what the house is worth. If its an investment then I understand the logic, but otherwise what is 'worth' how on earth do you measure it?
If this is the house you want in the area you love that will give you the lifestyle you desire then how can you put a price on that? If you truly arent' that bothered by getting THIS house, or the idea of getting a 'bargain' is more important than getting a dream house then walk away.

We're hoping to buy soon, we have an upper price limit which is what we can afford. But overall what the house is like is FAR more important than whether I can knock 5-10% off the price(if you are buying at 240k then 15k is less than 10%)

People do trot out the line of another house will come along, but as someone has said that assumes you are buying a bland box that has lots of coutnerparts.
We're hoping to buy a period property on a specific street that only has 30 houses on it. Now the chances of property coming up on that street frequently is fairly low, maybe one house a year if that. So I think I'd be bloody daft to miss out on a house that meets all my criteria just cos I was angling for another 5% off the price in the current market. After all until I buy the house I won't have the advantages of living in that area

Dont all jump at once to tell me the market tells you what something is worth - it doesn't! It tells you what people on average end up comprimising on.

And remember that the buyer may have a minimum amount they need to raise on the sale price. If they want but dont' NEED to move then they may simply say - we will move/sell when we get the price that enables us to pay of mortgage/buy what we want.

Davesnave

bubblesmoney wrote: »

maybe they are desperately trying to talk up the market before they lose their parlimentary seats in the next elections. afterall they all have their 2nd homes bought with taxpayers 'subsidies' to sell fast before their values decrease even further. nothing more motivating for a politician if his purse is on the line

Sorry, Bubbles, but it wasn't politicians, it was the National Housing Federation:
http://www.independent.co.uk/life-style/house-and-home/property/housing-market-will-bounce-back-in-five-years-878696.html