Asking prices just havn't moved !?!?

WTF?_2

mitchaa wrote: »

Unsettled when the landlord is forced to sell and you're booted out into the streets.

With bought you obviously have peace of mind that the ball is in your court, not in someone elses.

Unless of course the landlord isn't forced to sell and you aren't booted out onto the streets.

Or are you saying that you think most landlords are going to be forced to sell


Anyone renting should do a bit of research as to the nature of the house they are renting. If it was bought in the last couple of years I'd think very hard before moving into it. Look for houses that have been owned by the landlord for a good few years - plenty of landlords out there with their heads screwed on, just avoid the dipsticks who jumped into BTL as a 'get rick quick' scheme (plenty of them too, of course).

Also, look around for landlords offering longer term contracts. A 'professional' LL is going to welcome a longer term tenant.

kennyboy66_2

sdooley wrote: »

You can have a family in rented accomodation.

The problem is that the private rental market is highly skewed towards flats and singles / couples with no kids.

Family houses which are for rent tend to rented out only because someone is working abroad for a fixed term (or similar).

Gorgeous_George

If sellers want to sell, they will reduce their asking price.

Equally, if buyers want to buy, they will increase their offers.

A game of bluff and double-bluff. Who will crack first? There are two kinds of sellers - those who would like to sell and those who need to sell. The second type will crack first.

GG

cranezoe

We are finding that asking prices arent dropping alot, and when we do make offers they are rejected. hey ho, Im sure we will get there eventually. gulp!

from a sellers point of view, we dropped our price to be 15k lower than any other 2 beds in the area, still didnt get much interest but had that one person that you need and then took an offer from them too. Its another 10k under what we marketed at but its 115k more than anyone else in our area has. FTB who are happy to wait a while while we find somewhere and it should stand us in a good position to offer. BUT its not yet. No one is taking our offers and are still holding out for their asking price. fingers crossed we find someone willing to take the same reduction we did.

puddy

phil_b wrote: »

I check rightmove quite often, and when I come accross a house which ticks a few boxs my immediate action is to look at previous sold prices on that street. 99% of the time the house I'm looking at is priced right at the upper limit of historical prices, even those in the last 6-12 months. I dont get it . It's like the whole HPC is some strange myth where I'm looking. Maybe I'm just not spotting the good ones.

I know asking prices and sold prices are very different, so hopefully reality will kick-in in one big dollop sometime soon for some fast drops.

There is the occasional notable drop of asking price but it is always on a naff property.

I'm looking in the leeds/york/harrogate triangle by the way. 3-bed semi sort of thing. Anyone spotted any tempters around that way?

i havent read the rest of the thread but im finding exactly the same. i have taken 25% off my flat in order to get it sold (not working at the moment though) and none of the prospective properties that i have been looking at have moved their prices more than about 5% and most of them none at all. im looking in thanet. im getting so frustrated. the ones that i have been most interested in have just been taken off the market

WTF?_2

Gorgeous_George wrote: »

If sellers want to sell, they will reduce their asking price.

Equally, if buyers want to buy, they will increase their offers.

A game of bluff and double-bluff. Who will crack first? There are two kinds of sellers - those who would like to sell and those who need to sell. The second type will crack first.

GG

Don't forget the other side of supply/demand, there are relatively few people who need to buy and can't make do with renting for a bit longer. And there seems to be no shortage of rental property right now.

The would-be buyers have by far the stronger hand.

djm1972

Remember that the period from initial asking price > eventual sale price > transaction execution (solicitors) > Land Registry data is many months (getting on for a year in many cases), and as many sellers (and EA for that matter) base their asking prices "last sold in this street" prices based on that very Land Registry data it's going to take time to filter through.

Nobody is in any hurry to chase the market down (for the very good points made in the previous post) and just as you wouldn't go in and offer over the asking price in a rising market because of what you think a future value might be; neither should sellers or buyers base their prices / offers on where they think the eventual bottom might be - as that defeats the whole purpose of a market.

Davesnave

Gorgeous_George wrote: »

There are two kinds of sellers - those who would like to sell and those who need to sell. The second type will crack first.
GG

There's a third kind. They read MSE and they fear what 2009 will bring.
They'll maybe not crack, but they'll compromise!

chucky

!!!!!!? wrote: »

Don't forget the other side of supply/demand, there are relatively few people who need to buy and can't make do with renting for a bit longer. And there seems to be no shortage of rental property right now.

The would-be buyers have by far the stronger hand.

That's very true - there is also very few that need to sell from looking at the transaction volume of property sales at the moment.

Would-be buyers would only have the stronger hand with forced sellers - at the moment the volume of forced sellers doesn't seem to be too high so have to disagree...

neverdespairgirl

SunnySusie wrote: »

It took 10 years to get here, it won't be undone over night. I know people who have been putting their lives on hold since when sites like housepricecrash were first predicting a crash about 5 years ago. It's kinda sad to see them now into their 30s with another 5 years to wait. I hate to say it but this has realistically cost some of my peers the chance of having a family.

That seems to me to be an illustration of the property-owning obsession in the UK. WHy is not buying a house necessarily "putting your life on hold"?

We don't own. OH is 30, I'm 31, we both work in enjoyable fields, and have a 3 year old son. Our lives aren't on hold.