Are house prices really going down?

carolt

Well, I'm waiting, not buying now, so to an extent that's my logic too.

But as I said elsewhere today, if you don't ask, you don't get.

Doesn't hurt to ask.

The vendor may not agree, but then again, the buyer might hit lucky. If you must buy now, can't see why anyone wouldn't make 'cheeky' offers TBH - nothing to lose. It's not as if houses were flying of the shelves - at less than 1 per week per estate agent, if you don't buy it, the chances are nor will anyone else.

After all - you can always raise your offer later. The alternative is gazundering, which is also taking place in the current falling market, just as its reverse, gazumping, did in a rising market.

But I doubt most of the homeowners on here so indignant about 'cheeky' offers would welcome that as the (obvious) alternative for buyers trying to cash in on a falling market.

nixinix

neverdespairgirl wrote: »

For a FTB family with a child or two, yes.

I brought with just my DH...we wanted an office for home business and a spare bedroom. Hence 3 beds, with lounge/diner and small galley kitchen and small garden, and garage en-bloc. My neighbours brought as a couple, other neighbours brought as a couple with no plans of ever having children and moved on to a detached 3 bed, other neighbours brought as FTB when first built in 70's are still there - no children. Opposite two lads brought together as only way of getting on housing market - subsequently one lad moved out and moved his girlfriend in - no children so class as FTB. Another couple recently brought another house - gay so no plans of children. My buyers were also FTB. Admittedly one couple now has a small child but they have extended to the side of their house to accomodate there needs. We moved as house was too small for two small children.

What is wrong with a FTB couple wanting a 3bed?

nixinix

neverdespairgirl wrote: »

In my neck of the woods, £250k or less gets you a studio, or a 1 bed flat above a shop on a busy road, and / or with a short lease.

Prob why you don't think a FTB should have a 3 bed!!! Just sold our 3 bed for £114,500......

carolt

nixinix wrote: »

I brought with just my DH...we wanted an office for home business and a spare bedroom. Hence 3 beds, with lounge/diner and small galley kitchen and small garden, and garage en-bloc. My neighbours brought as a couple, other neighbours brought as a couple with no plans of ever having children and moved on to a detached 3 bed, other neighbours brought as FTB when first built in 70's are still there - no children. Opposite two lads brought together as only way of getting on housing market - subsequently one lad moved out and moved his girlfriend in - no children so class as FTB. Another couple recently brought another house - gay so no plans of children. My buyers were also FTB. Admittedly one couple now has a small child but they have extended to the side of their house to accomodate there needs. We moved as house was too small for two small children.

What is wrong with a FTB couple wanting a 3bed?

Nothing - but some on here would think you were getting above your station, and that you should know your place as a good FTB and never aspire to more than a 2 bed flat, even if you were a high earner.

nixinix

carolt wrote: »

Nothing - but some on here would think you were getting above your station, and that you should know your place as a good FTB and never aspire to more than a 2 bed flat, even if you were a high earner.

Not sure we have many 2 bed flats round here.....other than a few retirement places or coiuncil flats we are all houses. Admittedly we could have brought a one bed house in a much better area of the same town - with good school catchment - but a double bed would have to be pushed against a wall on one sidev to be able to open the door, and the house was so small it had to have a spiral staircase in the lounge...it was more money than ours but had a better postcode!!! :rotfl:

Dithering_Dad

carolt wrote: »

Well, I'm waiting, not buying now, so to an extent that's my logic too.

But as I said elsewhere today, if you don't ask, you don't get.

Doesn't hurt to ask.

The vendor may not agree, but then again, the buyer might hit lucky. If you must buy now, can't see why anyone wouldn't make 'cheeky' offers TBH - nothing to lose. It's not as if houses were flying of the shelves - at less than 1 per week per estate agent, if you don't buy it, the chances are nor will anyone else.

After all - you can always raise your offer later. The alternative is gazundering, which is also taking place in the current falling market, just as its reverse, gazumping, did in a rising market.

But I doubt most of the homeowners on here so indignant about 'cheeky' offers would welcome that as the (obvious) alternative for buyers trying to cash in on a falling market.

Agree again, I did the very same when I bought my first home. I offered 20% off the sales price and this was in 1995, so a lot of discount was already factored in. They could either take the offer or leave it. They chose to take it. Had they refused, I would have either upped my offer or moved on - no hard feelings. I certainly wouldn't be grumbling on about it and I certainly wouldn't have moaned to the vendor and said, "Well, this house could lose 20% in its price over the next 3 years, I'm taking all of the risk here!"

Do you see the difference? It's one thing to 'chance your arm' and make a low offer, it's quite another to expect them to take whatever you offer and then moan about how unrealistic they're being when they say no.

carolt

Did they 'moan to the vendor'?

They're moaning on here - but hey, if they want to let off some steam on here about this, doesn't bother me.

lostinrates

Dithering_Dad wrote: »

I stand by my remarks that if people want to buy now then they have to pay 2008 prices. If people think that prices will halve by 2013, then they should hold off buying and then pay the going rate in 2013.

Come now carol, surely you can't argue with that logic?

One could argue that th prices agreed (regardless of the offer process), whether last years, 2006, 2003 or whenever are simply the prices of now.

However we equate it to past years, (I've never really got that bar the equatios and ratios for comparison as a method anyway:o ) noone knows what the price is on any formula til its accepted I guess.

On that theory as a buyer I'd offer low and as a seller I'd be sounding dismissive...even if they offered what I wanted with a first offer.

shaven-monkey

ftb_home_dream wrote: »

Hello,

I'm starting to have doubts now and feel a bit depressed. Are house prices really going down? We are FTB and we have saved a deposit of 25% and also are willing to get mortgage agreed in principle. We put an offer in on four properties and all of them have been turned down.

£289K property - £250K offer - Rejected!
£289K property - £250K offer - Rejected!
£299K property - £250K offer - Rejected!
£310K property - £250K offer - Laughed in my face and Rejected!

We don't want to go over the 250K stamp duty threshold. We wanted to put in offer like £240K and then put it up to £250K but then we were worried we won't be taken seriously so we went it straight with a maximum of 250K

What do you guys think?

Smile when the agents laugh. offer 40% off the asking price for any property you actually want and say the offer is open for 3 months, leave them a contact number.

When they laugh, smile. When they frown, smile. When they bluster, smile.
When they contact you to try to negotiate in 2 months, lower your offer to 50% the original asking price.

All you lose is time and every month you don't buy a new house is a month you're not sinkling into negative equity. The rental costs are tiny in comparison with the money you'll save on the purchase.
There is no such thing as a real value, there is only what people are prepared to pay and what the vendor is prepared to accept. All else is smoke and mirrors, the estate agent is there to keep the mirrors pointing in the right direction and make sure the smoke gets in everybody's eyes.

drbeat

ftb_home_dream wrote: »

But the way the agents say these things. I feel they are just laughing in my face.

I wouldn't worry about them; they'll be flipping burgers in McDonalds after Xmas.