We have had a lot of interest on this property!

Trollfever

Statistics from a substantial town that I monitor:

Completions
August 2007 326
August 2008 48

http://www.houseprices.co.uk/

mewbie_2

andys15 wrote: »

When i went to view a few houses in Jun time, one house we liked was shown to us by the owners, the house had been on the market for an age, and we felt we might be able to bargain. As soon as the owner opened the door he said he had an offer that day, very close to the asking price. It annoyed me and we just couldn't wait to get out. I knew he was lying, and even though we liked the house I couldn't be bothered with his lies.
I said to me wife that the EA would probably be buging us all week(we were FTB with a mortgage offer in place). I never received a phone call. I thought it was strange, so out of curiosity I contacted the EA. True to the owners word, they had the offer, infact they had 2 more and sold for full asking price. It happened to the next house we liked(had a full size swimmig pool in the back garden), enquired and the EA said loads of interest. I thought he was trying it on, phoned the next day and it had gone full asking price.
Things have changed a bit since Jun, but it was still a panic then. Both times i doubted, both times i was proved wrong. I am not saying it is the same in your case, but you never know.

Shame is Andy, I don't think any of the loser types on here will believe you. Last week I was planning to view a property, been on for a week, bit pricey compared to others I thought but worth a look. Anyway jumped in the agents car, and on the way round there he had a phone offer for double the asking price!! Well, I didn't believe him, so we turned back, and now I can confirm it's on the land registry at that price. I wouldn't have minded paying double, it was the lack of belief that cost me the purchase.

From anecdotes 'r' us - tagline - we'll make it and fake it so you don't have to.

mrstinchcombe

horseinhatman wrote: »

Its probably 90% true , there are more buyers than decent properties at the moment , simple supply and demand issues.

lol, brilliant!

Do you really believe that?

pizzagirl

No, of course not! It's a wind-up, you'd think people would have realised by now

Heyman_2

mewbie wrote: »

Shame is Andy, I don't think any of the loser types on here will believe you. Last week I was planning to view a property, been on for a week, bit pricey compared to others I thought but worth a look. Anyway jumped in the agents car, and on the way round there he had a phone offer for double the asking price!! Well, I didn't believe him, so we turned back, and now I can confirm it's on the land registry at that price. I wouldn't have minded paying double, it was the lack of belief that cost me the purchase.

From anecdotes 'r' us - tagline - we'll make it and fake it so you don't have to.

Well considering most of the people on here get their 'facts' from average trend statistics for the entire country, Propertybee (which I probably could have gone on 5 years ago if it existed and showed you a bunch of properties that had dropped in asking price by a fair amount), and screaming Daily Mail headlines, it's hardly surprising that such a one-sided view is presented as 'the norm'.:mad:

The real 'fact' is that it absolutely depends on which area of the country you are in and the type of property you are looking to buy.

Having said that - there's no argument with mortgage approvals in August collapsing to just 5% of the month before!!! :rolleyes:

GracieP

Some friends of ours were selling their house in Dublin at the start of this year, to those who don't know Irish house prices peaked in 2006. They priced their house far lower than any comparable properties, they got lots of interest, got bids from two parties and sold for quite a bit above their asking price. So if a property is priced below all the competition it is possible that it really is getting a lot of interest.

The thing is though that two weeks before my friends moved, but after their exchange, the house next-door to them came on the market for nearly €100k less than their selling price. I can't imagine how that felt for my friends' buyer.

If I was looking to buy right now, my attitude would be that if a house is getting a lot of interest I'd look elsewhere. No house is unique and if I don't get that house another will appear sooner or later. So if an EA tells you a house is getting a lot of interest just respond with, "I'm absolutely not getting into a bidding war, if nothing comes of the current interest give me a call in a few weeks."

mewbie_2

My gut feeling is that if an agent says there is any interest at all - he is lying. There will always be the very unusual exception of course, but from what I see / hear/ feel the market for the vast majority of properties is absolutely stopped.

Heyman_2

mrstinchcombe wrote: »

As a FTB I have just started looking at properties as I feel I am ready to get out there and buy. Quite frankly I'm a bit worried that if I don't buy not I'll miss the boat (lol only joking, I'm not quite as daft as horseinhatman! I am looking to buy tho for other reasons).

Every time I call up to enquire about a property/book a viewing I always seem to get the line "We have had a lot of interest on this property!" or "This won't stay around for long!"

Do these guys really think I believe that? Its getting a little predictable now!

What other classic lines should I look out for?

Getting back to your OP - the best thing you can do is ignore ALL the guff. Because that's what it is.

You - as a willing FTB - will be like gold dust to EAs whether they let you know or not.

Have a look at the property, decide how much you'd like to pay for it and then make your offer. You can be cheeky in the current climate.

Average prices have been dropping month-on-month. Mortgage deals at the moment aren't great. Time is actually ON YOUR SIDE.

So don't rush anything.

wymondham

horseinhatman wrote: »

Certainly dont pay any attention to the renters on here, they dont want to believe the truth. Idiots mainly.

I'm not a renter and I don't believe the 'truth' either :rolleyes:

Procrastinator333

Some of the "lines" I have come across:

On 4 properties we have been told "They have already accepted an offer, but the buyer is struggling with getting a mortgage, so if you are quick....." Only one of those four has actually changed to under offer 3 weeks on... HHHmmmmmm!

"I have a great new property just on, but I'm getting a lot of calls about this one"

Answerphone: "I have a new property just on, this one is priced to sell, so call me quick"

Answerphone message a week after I had said a property was on our possible list... "I just wanted to see if you were still interested as we have another 2 viewings this weekend. The seller is willing to accept offers, so if you are quick...."

"This property hasn't been on the market long" - When property bee tells me it has been on for 6 months +

They all talk such crap!