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Debate House Prices
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Are house prices really going down?
Comments
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People don't like bad news, so most people won't reduce their property prices by large increments, even though the projections for next year tell them that they should. Also, as others have said, anyone who takes the decision to sell at a large discount, will still have an uphill struggle to do a similar deal on the property they want. Given time, all this will change.
The key is flexibility, and for those who own, time out in rented is money well spent - though not quite as good as when interest rates on banked cash were better. If you don't own, just stay flexible on timing and pitch in when the conditions suit. This may mean putting offers in on properties and being rejected over a considerable period, but you might strike lucky and find a seller who really needs to move. Either way, you get to be a FTB just once, so it pays to be picky and persistent.0 -
No the house was origanally up for 329 but is now on the market for 289
so its obviosly not selling so why not make the seller take the hit as its more than likely that it will drop to 250 if not below anyway?
if they have had to drop 40k already doesn't that tell you its well overpriced??neverdespairgirl wrote: »It's not a £329k property if it didn't sell at that price, and has now dropped to £280k, though.
Ladies, my point is not what the property was previously valued at, but that a FTB is looking for a property at £250k.
Are they earning in excess of £70k (magical 3.5 x multiplier :rolleyes:)? As a FTB?
It seems crazy to me, but then again, London is always crazy to me.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
There would be no FTB's in most of the South East if you assumed that all properties that cost 250K were off-bounds!
Do agree with you, though, that that is a stupid amount of money for a FTB property.
Which is why I expect prices to fall a lot.
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There would be no FTB's in most of the South East if you assumed that all properties that cost 250K were off-bounds!
Do agree with you, though, that that is a stupid amount of money for a FTB property.
Which is why I expect prices to fall a lot.
Are there no properties under £250k?
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Not many in London. Not in any areas you'd feel safe, anyway. And personally - don't know about you - I put not getting my head kicked in a higher priority than buying a house.0
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There's nothing more laughable then people bleating on about sellers not reducing prices enough.
If you are waiting to buy then why not wait a bit longer, but spare us the endless posts about how you know better than people who are selling their houses.
The slight problem you may have is that in the last housing recession, houses could be up for sale for years (board or no board outside). Some people simply won't reduce their perceived price however illogical that may seem to you.
There are plenty of auction properties available.US housing: it's not a bubble
Moneyweek, December 20050 -
That seems rather rude.0
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kennyboy66 wrote: »There are plenty of auction properties available. Why don't you put up or shut up ?
House price forum = house price discussions.
If ya do not like it please move on. Personally i do like these discussions, that is why i am here....0 -
House price forum = house price discussions.
If ya do not like it please move on. Personally i do like these discussions, that is why i am here....
It just seems that some on here think they are doing sellers a favour by even putting an offer in & then are affronted if it is rejected.
If you are desperate to buy, why not at least go to the auctions or look at repossed properties (many of which are advertised as "the lender has recieved an offer of "£xk" and it will be accepted in 14 days time".
Clearly many sellers are not quite as desparate to sell as you wish.US housing: it's not a bubble
Moneyweek, December 20050 -
Anyone selling a property at the 300k level outside London will not be expecting to deal with FTBs. Other people don't have problems getting mortgages, so there is likely a much reduced need to drop the price, if any.
The OP should aim at entry level properties if s/he wants a discount.
I fear however we are still dealing with over inflated expectations.Trying to keep it simple...
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