Scottish Property... opinions?

mymatebob

I have seen lots more property on the market and less of it shifting.
Lots going from For Sale to To Let after failing to shift at fixed price.

Ali1501

JCD_Capulet wrote: »

Where I live (just on the outskirts of glasgow) prices have been dropping pretty badly, buyers are hard to find, more and more for sale signs are going up, and on monday after being on the market since june 07 my mums house was reposessed. It's all pretty !!!!!!

Oh shoit! I'm so sorry to hear that

I really feel for people who lose their homes. Just not not the one's out there who think they can still be greedy and get the 20% over the asking price, good luck to them I say.

I was lucky when I sold, I was offered well over, who was I to say no. At the moment tho you have to be realistic and I don't think some people are.

Ali1501

LilacPixie wrote: »

I'm in Dundee. Alot more appears to be going to fixed price but is then selling. One we half considered was o/o 119k stayed on for 3 weeks like that then moved to fixed 125k and sold within a few days.

Flats under 100k seem to be moving well too. I guess thats because Dundee isn't that big and there is 2 uni's so the rental potential is there.

I'm sure the crash will arrive up here soon. There are no 100% mortgages, 90%'s are getting rare too. Cost of living is rising and wages are not. This is true of pretty much the whole country I think.

I have been seeing fixed prices dropping to a new fixed price, also O/O dropping in price to a fixed, I'm assuming they have bought elsewhere and need to sell old properties now for obvious reasons..

I have noticed a high rate of HMO licence properties up for sale too.

LindsayO

I'm in edinburgh and live on a street of terraced flats and can tell from the outside what the floorplan of each flat is, there are only a couple of floorplans. Being very nosey I've kept a note of all the house prices on my street, and they are still going up. Its only one street but still, each flat that sells, sells for more than the last one of comparable size.

That said I think the biggest drop is in the number of houses selling in Scotland. Everyone talks about how that will force prices down (and it may well) but what I think gets forgotten is that it's not just house prices that were over inflated, it was also sales volume that was overinflated. A few years (or even months) ago I'd say the vast majority of people who sold didn't have to, they were doing it to move up the property ladder, so now what we may see is people putting their house on the market and leaving it there a very long time and then just quietly taking it off again if it doesn't sell.

So although there are tons more houses on the market than there are buyers, that doesn't necessarily make it a buyers market if the vast majority of sellers can simply choose not to sell

Ali1501

jackieb wrote: »

My husband has said the same. There's another house that's been up for sale since before we sold in May. Semi-detached, granite, offers over £116k. Normally that would have been snapped up. He said that market is aimed at FTB's and lenders just aren't offering 100% mortgages anymore.

I have had 100% mortgage twice now (long story) twas easy at the time.

not now.

Some lenders are looking for 20% now.

My parent's home is on at O/O 89k, not one viewing! Cracking first time buy. Had one young lassie interested but nothing ever came of it, I think it was mortgage problems again

JCD_Capulet

Ali1501 wrote: »

Oh shoit! I'm so sorry to hear that

I really feel for people who lose their homes. Just not not the one's out there who think they can still be greedy and get the 20% over the asking price, good luck to them I say.

I was lucky when I sold, I was offered well over, who was I to say no. At the moment tho you have to be realistic and I don't think some people are.

Ach it happens hon. Pending divorce was the reason for the sale and even after dropping from 125k to 90k we still couldn't find a buyer to take it. This area seems pretty dry of serious buyers. Well with the house is gone now she can get on with things and at least she's not homeless. Where there's a rainy day there's a rainbow, so they say.

Ali1501

JCD_Capulet wrote: »

Ach it happens hon. Pending divorce was the reason for the sale and even after dropping from 125k to 90k we still couldn't find a buyer to take it. This area seems pretty dry of serious buyers. Well with the house is gone now she can get on with things and at least she's not homeless. Where there's a rainy day there's a rainbow, so they say.

So they say...

Hope she ok and a happ lady now xx

twinklefish

Solicitors in Aberdeen are now advising people to sell before buying. I have that info from a couple of people at my work selling. I think this is why there is a rise in the number of properties on the market.


When I was looking to buy in May, people were still buying before selling. Several of the properties I liked went to fixed prices fairly quickly as people were not leaving themselves enough time to sell. I went to look at one house the 2nd day it was on the market and they were 6 weeks from purchasing their new house! The odd thing was they were buying a new house and had had months to get their current house sold but I do think they really thought there current property would sell in a couple of days. I liked it but as I had not sold my flat at the time, was not prepared to offer. Not suprisingly, it went to a fixed price a couple of weeks later and their solicitors kept phoning mine asking if I was interested!

Where I have bought, o/o prices for the same type of house are now higher than they were in May. However, this appears to be backfiring as these houses now seem to be going to fixed prices of the same price I paid when I bought in May.

jackieb

napoleon wrote: »

Just wait until the special brew, sorry I mean oil, runs out. Then prices will fall in Jockoland just like everywhere else.

A wee bit of a wait until then though. http://www.scotland.org/about/innovation-and-creativity/features/business/northsea.html

vigesimal

jackieb wrote: »

A wee bit of a wait until then though. http://www.scotland.org/about/innovation-and-creativity/features/business/northsea.html

30 years at best:eek: Is that all there is left:eek::eek::eek: