To those selling in these difficult times

LouBlue

Yes...give us hope...pleeeeeeeeeeeeease. :rotfl:

geoffky

http://www.thisislondon.co.uk/standard/art...year/article.do

House prices due to fall by 25% next year
Paul Waugh, Deputy Political Editor

HOUSE PRICES are set to collapse by 25 per cent next year as new mortgage lending dries up completely, the Treasury has warned in the small print of the pre-Budget report.

The PBR forecasts that prices will fall for at least another year until 2010. A supplementary report by Sir James Crosby also predicts that banks and building societies will effectively freeze lending. He warns that unless the Government acts quickly, new mortgage lending will fall to zero next year. The only fresh activity will be homeowners re-mortgaging.

On the Treasury's figures, house prices will plunge by a quarter in the next 12 months and will only recover modestly in 2010. The Chancellor has already tried to help the property market with a one-year stamp duty holiday on homes worth less than £175,000.

Jorgan_2

pawpurrs wrote: »

Oi you two this is a support thread for vendors, dont make us feel worse

But if it helps sellers understand how some buyers are thinking, thats a good thing isn't it?

I have a feeling Geoffky isn't selling at the moment.:D

LouBlue

Jorgan wrote: »

But if it helps sellers understand how some buyers are thinking, thats a good thing isn't it?

Yes it does...we're only depressed, ignore us. I am not a vendor that isn't budging though, I have dropped my flat loads. Only reason I can't keep dropping it is that we won't have enough to pay the mortgage or the fees if we drop it anymore. I need a windfall. :rolleyes::D

geoffky

heres what i am up to at the moment..i am a cash buyer and after a 4bed det in cheshire. i have my eye on one at the moment its gone from 280 to 219k but i only want to pay 190k for it..so at the moment i am just sitting back and letting the market do the work for me.i wont put the offer in as it might upset some people to think that they may have to sell their house for that..what do you sellers think would you like to know someone is intrested at that price with the risk of frightening you or am i right in just holding back and letting the market do its work for me..ps good luck all

mishmash

ooh another viewing booked for later in the week, the no shows last week have not replied to the EA so don't know what went on there?

Anyway another viewer = tidy house at worst ha ha.

Oh and geoffky if I were in your position I would be offering £175k, I quitre like a somilar house that has come down from nearly £300k to £205k still not sold. I dream that when mine does I will offer them £175 and no more.

Good luck all

Mish

themaccas

I often watch this thread and just wanted to say I wish you all well with your house sales. We sold and moved in May. We didn't have to buy another house straightaway as OH in the forces and could have had a married quarter with very cheap rent. We are now in a fabulous house that we got for as cheap as we could back then and finally bought for 380K with 75% mortgage. House had been empty for over a year but owners family had borrowed them the money in order for them to buy another house and therefore they were content to wait for as long as it took to get the price they wanted. Even now 6 months later and the financial climate looking even bleaker I doubt whether we could have got anymore money off. And this is the problem for people buying....they want bargains but most people don't have to sell their home for an insulting or 'give away' price.

We lived in quite a deprived area of the country and I was very glad to have sold and moved away, but we would have waited rather than sold for a silly price. With hindsight I would have still bought because life is for living and we were in a position to buy another family home. Bargains are all relative.

Davesnave

geoffky wrote: »

heres what i am up to at the moment..i am a cash buyer and after a 4bed det in cheshire. i have my eye on one at the moment its gone from 280 to 219k but i only want to pay 190k for it..so at the moment i am just sitting back and letting the market do the work for me.i wont put the offer in as it might upset some people to think that they may have to sell their house for that..what do you sellers think would you like to know someone is intrested at that price with the risk of frightening you or am i right in just holding back and letting the market do its work for me..ps good luck all

Well, Geoff, that's a 32% reduction, and by no means an impossibility, but using my own house as an example, that figure is where we'd expect to be sometime next summer, not now. The whole point of selling now is to avoid doing it next year. Like you, we hope the market will help us; in our case, we'd hope to claw something back from what we've 'lost.' Even though that loss is just a paper one, it still counts when trying to buy again.

The problem with selling this year, is that other sellers, particularly in different types of houses or areas, may well be in the denial stage. We're making a major shift and there's not been much that's affordable for us to buy, so selling requires a leap of faith, and buying well will mean going into rented for a while. We really do believe that next year will be different, and that more people will be ready to deal, so I'd say hold back for a time yet and your £190k house will come to you. Maybe it won't be the exact one you have your eye on though; after all, some people are still selling.....I hope!

geoffky

dave nothings moving round here some houses 2years plus on the market..
maccas what if your hubby had lost his job or you..remember there are always forced sellers. so if the people you bought off had waited and waited they would of had to sell in the end and for less because the market dictates prices and not sellers..because 2007 prices will not be returning for a very very long time...

greenwheels007

I was driving through Trowbridge, Wiltshire today and noticed that out of the 5 houses I saw for sale on one street a week ago, three had the sold sign up today!
Now, I am not the most complimentary of people towards EAs so mu suspicious mind thought maybe there is some local scam amongst them to make it look as though houses are selling.

Maybe I am just cynical...not sure what the sam could be

Maybe houses really are selling...

Maybe it was all a dream !