Auction prices plummeting?

JWF

dopester wrote: »

Come to live in Salford if you like it so much.

http://www.guardian.co.uk/world/2008/jan/04/race.ukcrime

That story is so thoroughly depressing but I can relate to it. I grew up in Salford and only moved away in my twenties - I will never go back there. My memories of the early eighties are vandalism and every other shop boarded up (long term boarded up - abandoned really).

chucky

neverdespairgirl wrote: »

The verb, "to snap up" is massively over-used in relation to houses and flats. Even the speediest of buying takes 3-4 weeks, hardly snapping anything.

no reason why a property cannot be 'snapped up' - a purchase can take place in the time that your solicitor can complete everything. in this day of most of the information being available on-line and the indeminities available; a sale can even be done in one day as long as your solicitor can review all of the documentation.

i've completed in two weeks on a cash purchase before - could easily have been less time but would have had to pay even more for the priviledge.

neverdespairgirl

2 weeks isn't exactly snapping either, IMO.

chucky

neverdespairgirl wrote: »

2 weeks isn't exactly snapping either, IMO.

sorry - I hadn't realised that the 'verb' snap-up had a particular time frame...

so when i said "i've completed in two weeks on a cash purchase before - could easily have been less time but would have had to pay even more for the priviledge." - it could be probably done in a couple of days with the solicitor purely focusing on this.

dopester

Buying a property is one of the biggest decisions in life (for me anyway).

So the way the easy credit / New Labour era over the last 10 years has encouraged a media and individual mindset about "snapping up" a property - as though there isn't any risks involved, is not something I like.

ruggedtoast

Generali wrote: »

The problem that this story highlights is that there is still a standoff despite a year's worth of articles in the press about falling house prices and economic doom 'n'gloom - sellers won't cut prices to those which buyers are willing and/or able to pay. As a result they can't/won't sell and buyers won't/can't buy.

Ive been looking around us in NW London at 3 bed terraces. I checked out a couple of streets which according to nethouseprices last had any activity when they were selling in 2004 for around £200,000 - £220000

The same houses in the same streets are on for £250,000 - £260,000 plus now. None of them are selling and obviously no one selling now paid anything like that much when they bought.

Presuming they want to to trade up however, it takes someone to give them a low offer for them to give one to their prospective vendor.

bargainbarmy

JWF wrote: »

That story is so thoroughly depressing but I can relate to it. I grew up in Salford and only moved away in my twenties - I will never go back there. My memories of the early eighties are vandalism and every other shop boarded up (long term boarded up - abandoned really).

I live in Worsley which is in Salford. There are houses near me which are on the market for over £2million. Although they won't probably achieve that price now they were going for around that figure mid 2007. Salford, like every city, has very nice leafy areas such as Worsley and poor run down areas like Lower Broughton. It is true that there is a bad youth culture that will intimidate you in the poorer areas of the city but that is also true of every other city. It really sickens me when people pick out Salford as a terrible place to live. I have lived here all my life and like it very much. OK I don't live in a rough part of the city but every city will be the same. For god sake, give Salford a break and look at your own city. In my travels I have seen so many worse places to live than Salford!!!