Lets list those categories that HAVE to sell, ie, those that set the market price.

StevieJ

chrisandanne wrote: »

Flippers.....There is a man in the village who has bought up any house coming onto the market cheap in the last few years and done them up with the obligatory beech kitchen and B & Q bathroom...very annoying. He now has three houses up for sale, that I know of, all at last years prices.

Other people who are chasing the market down are trying to lock in some HPI I think. A lot of genuine sellers have removed their house from sale and will come back in when the market is more stable and they can get their next house for less. A x

Nail on head, people have realised that there is no rush to sell as if prices drop they will be able to purchase the next house cheaper, without the hard bargaining with the sharks and Piranhas.

Kenny4315

Conrad wrote: »

In a bear market, those that have to sell are the key particpants that drive the price curve.

Peope who are !!!!!! off with Mr Clown and Hs Darling squandering cash with no results, who feel that it would be better to live on some beach in the med, watching hot chicks all-day and drinking ice cool beers, in the nice warm sunshine.

For half the price and alot less hassle. :money:

kennyboy66_2

So we have:

Arrears cases
Landlords with non paying tenants
Those that vastly overpaid in the last 2 years and just want to stop loss
Poorer people with property falling into disrepair
Inherited property sitting empty and falling into disrepair
Growing family stuck in unsuitable property
Job movers
Downsizers
Upsizers
Voluntary repossessions
Divorce
Death
Probate sales.
Council house sales under the Right to Buy scheme.
Houses deemed to have been bought with the proceeds of crime.
Sales resulting from compulsory purchase order
Flippers.
Floppers.
Sell to renters.
People with children who can't share a bedroom (makes me wonder how large families in the past managed)
Moving due to distain for current locaction
Bad neighbours
Moving to get into school / nursery catchment area
destitution
Liar loans
self cert motgages who can't remorgage.
People who think the country is going the same way as Zimbabwe
Those sectioned under the mental health act.

All we need now is people who have to move because the cat doesn't like the neighbourhood - and we will have more forced sellers than the entire housing stock of the nation.

Conrad

Really2 wrote: »

Ok purchase £150k Repo auction sells for £75k

They owe £75K they would do well to pay that back in two years.
Also how are they going to live in the mean time rent etc.

I can not see how someone thinks "Lets sell or repo at a massive loss now" Knowing they will need to live some where.
Unless they are the terminaly thick I can not see any sense in it.

I would rarther deal with NE than a volantary reposetion unless my financial situation was dire.
But you say these people can afford it.

People caught in a NE trap, often with a flat they dont even libe in would often rather just walk away and stick head in sand that keep paying the debt on a falling asset, and drastically falling at that.
Seriously this is absolutely common place, your EA family member must be in some parallel universe.:rotfl:

abaxas

People with liar loans.

IE those who cant remortgage due to their original mortgage being obtained via fraudulently overstating income.

Generali

kennyboy66 wrote: »

So we have:

Arrears cases
Landlords with non paying tenants
Those that vastly overpaid in the last 2 years and just want to stop loss
Poorer people with property falling into disrepair
Inherited property sitting empty and falling into disrepair
Growing family stuck in unsuitable property
Job movers
Downsizers
Upsizers
Voluntary repossessions
Divorce
Death
Probate sales.
Council house sales under the Right to Buy scheme.
Houses deemed to have been bought with the proceeds of crime.
Sales resulting from compulsory purchase order
Flippers.
Floppers.
Sell to renters.
People with children who can't share a bedroom (makes me wonder how large families in the past managed)
Moving due to distain for current locaction
Bad neighbours
Moving to get into school / nursery catchment area
destitution

All we need now is people who have to move because the cat doesn't like the neighbourhood - and we will have more forced sellers than the entire housing stock of the nation.

What did forced sellers ever do for us? Well there's the new bathrooms..... With apologies to M. Python

Davesnave

it would be better to live on some beach in the med, watching hot chicks all-day and drinking ice cool beers, in the nice warm sunshine.

How cruel! Those Spanish treat their animals disgracefully. A beach is no place for a hen. [EMAIL="B@st@rds"]B@st@rds[/EMAIL]!

Conrad

Cannon_Fodder wrote: »

The point is not whether you can adequately justify them in a theoretical sense on a website, but whether in the real world anyone is affected and acting...

Well I'm in the real world and deal day in day out (between posts) with these matters.

See Kenny's summary above and add in rising unemployment, desperate developers, and people unable to remoartge out of high variable rates, particularly those with sub prime lenders.

Really2

Conrad wrote: »

People caught in a NE trap, often with a flat they dont even libe in would often rather just walk away and stick head in sand that keep paying the debt on a falling asset, and drastically falling at that.
Seriously this is absolutely common place, your EA family member must be in some parallel universe.:rotfl:

Well he is selling arround 8-9 proertys (including repos) per branch at the moment per month.
How many mortgages are you selling while on here Conrad?

Did you not want to buy some BTL?

A flat they don't live in (BTL) so not somones house so seen as they are BTL and have most probaly secured their mortgage off another property would they not be shafting their self even more?

You live in a parallel universe. Look the laugh symbol:rotfl: :rolleyes:

PS How does somone who sells property for a living and does not see these sales you are on about but you as a potentiall BTLers mortgage adviser does?
Who would i belive the person who wants to buy or the person who sells them. Easy to answer really.

Austin_Allegro

kennyboy66 wrote: »

So we have:

Arrears cases
Landlords with non paying tenants
Those that vastly overpaid in the last 2 years and just want to stop loss
Poorer people with property falling into disrepair
Inherited property sitting empty and falling into disrepair
Growing family stuck in unsuitable property
Job movers
Downsizers
Upsizers
Voluntary repossessions
Divorce
Death
Probate sales.
Council house sales under the Right to Buy scheme.
Houses deemed to have been bought with the proceeds of crime.
Sales resulting from compulsory purchase order
Flippers.
Floppers.
Sell to renters.
People with children who can't share a bedroom (makes me wonder how large families in the past managed)
Moving due to distain for current locaction
Bad neighbours
Moving to get into school / nursery catchment area
destitution
Liar loans
self cert motgages who can't remorgage.
People who think the country is going the same way as Zimbabwe
Those sectioned under the mental health act.

All we need now is people who have to move because the cat doesn't like the neighbourhood - and we will have more forced sellers than the entire housing stock of the nation.

Also companies (mostly banks) who own houses (mostly in London) for foreign staff working in the UK on a temporary basis. Due to cutbacks, many of these will need to be sold.