New Build Home Prices

ToMonkey

I live in St Helens and there are a few new developments around here. We went to look at one at the weekend. Basically a 4 bed house circa £300k which for me is way too expensive.

Basically the people on this new estate seemed unaware of what was going on around them in the real world, when asked about falling house prices they claimed that the houses were selling out and we would have to reserve quickly, I mentioned that perhaps they were living in a bubble and they looked like a dog that had been told a joke. I just walked away after viewing one nice house (400k) and one box.

Is this what all these sales people are like, I have no experience of them as I bought my current home without actually seeing it. (There is an explanation to this)

Are house prices not falling as quickly around this area (Perhaps I have it wrong) or is this what to expect from a sales rep.

The company is morris homes may be its just them.

Is this the norm?

Realy

ToMonkey wrote: »

I live in St Helens and there are a few new developments around here. We went to look at one at the weekend. Basically a 4 bed house circa £300k which for me is way too expensive.

Basically the people on this new estate seemed unaware of what was going on around them in the real world, when asked about falling house prices they claimed that the houses were selling out and we would have to reserve quickly, I mentioned that perhaps they were living in a bubble and they looked like a dog that had been told a joke. I just walked away after viewing one nice house (400k) and one box.

Is this what all these sales people are like, I have no experience of them as I bought my current home without actually seeing it. (There is an explanation to this)

Are house prices not falling as quickly around this area (Perhaps I have it wrong) or is this what to expect from a sales rep.

The company is morris homes may be its just them.

Is this the norm?

They are just doing their job
They are not going to turn round and say we sell one a month if that and you have virtualy no chance of getting a mortgage unles you have a 25% deposit.

geoffky

They have to try and get some commission from somewhere...so by stealing it off you is ok as far as they are concerned as they will not be around when one of them sells for 140k...

ad9898_3

As people have already said, they are just doing their job of trying to polish a turd.

Incisor

ToMonkey wrote: »

... Basically the people on this new estate seemed unaware of what was going on around them in the real world, when asked about falling house prices they claimed that the houses were selling out and we would have to reserve quickly, I mentioned that perhaps they were living in a bubble and they looked like a dog that had been told a joke.

:rotfl::rotfl::rotfl::rotfl: A mixed metaphor, 'cos I bet they thought you were barking. Seriously, I do reckon they believe what they are saying.

ginvzt

We have been to a few developments few months ago, and we were told that 'houses are flying', never been better. Right, so why now, few months later the same houses are still for sale, and actually, some of them dropped the price (believe it or not, it is true!!!!)

Incisor

ginvzt wrote: »

We have been to a few developments few months ago, and we were told that 'houses are flying', never been better. Right, so why now, few months later the same houses are still for sale, and actually, some of them dropped the price (believe it or not, it is true!!!!)

It's not that they aren't flying, it's just that they are coming in to land.

neverdespairgirl

I'd rather have a house that stayed firmly on the ground.

RoxieW

I was laughed at for asking for a 30% reduction on a overpriced new build. Apparently nows a good time to buy and such reductions are ridiculous according to the cackling sales person. I mentioned that I had seen such discounts and she said I must be getting mixed up with one of those 75% home buy schemes. Erm no, I'm not getting 'mixed up' silly cow!

Pssst

Most modern construction houses are quickly built. Just view your local construction site. They are almost like kits that are assembled then have an outer shell of brick built around them. They have been well overpriced for years and thats why new build housing needs a reality check. They can no longer shift them. Check out the share prices of many of the big housbuilders. Companies like Taylor Wimpey now about 70p each when not long ago they were much higher. They are not alone.

They need to wake up .
No one is going to pay £300 for a house that has been knocked up in a few weeks in an overheated market.

You would just be buying into massive neg eq straight away .

God help anyone who was foolish enough to pay out for a nice apartment(flat)

skap7309

RoxieW wrote: »

I was laughed at for asking for a 30% reduction on a overpriced new build. Apparently nows a good time to buy and such reductions are ridiculous according to the cackling sales person. I mentioned that I had seen such discounts and she said I must be getting mixed up with one of those 75% home buy schemes. Erm no, I'm not getting 'mixed up' silly cow!

Please, let them laugh. It is a reaction i hear all the time when people put in a REALISTIC offer.
I personally put it down to being a nervous reaction. If they want a sale, then why laugh at a potential customer? When the market was on the up i believe they would not dream of laughing but instead confidentially give a polite no as there were a que of people out the door.
If they want to pretend it is a joke then go back in three months (do not worry, judging by the non-existent mortgage figures out this month i guarantee it will still be on the market) and put in a lower offer. The laughing will probably have died down by then and be more of a desperate plea.