Asking prices just havn't moved !?!?

Gorgeous_George

Record low interest rates and Gordie's desire for lenders to try to keep people in their homes should stave off the potential rise in distressed sales.

However, sentiment is at an all-time low.

GG

skap7309

StevieJ wrote: »

I think you need to differentiate between builders cash flow problems, over priced new build and city centre flats with householders suffering record low rates.

Steve, it is not any of those. The thing is we are in this silly situation where no one will sell unless they have to. Now, what do they expect to achieve? Stay in their existing house FOREVER? Over time, of course people are going to want to move, regardless of the situation. They want to get on with their lives etc.
You want a new car, you dont hang on to the one you have because it is worth less than it was 12 months ago. You get on with your life and buy another one. This is the point i was trying to make- people will get fed up with trying to sell for an unachievable price and one by one will reduce it to affordable levels so they can get on and this silly situation ends. See Max Headroom's post above - sums it up perfectly. :T

mewbie_2

Anecdotal: I've sold in at least two downturns. In order to move on in life, to somewhere different, better, more convenient, whatever. Both times started asking price at considerably under the falling market rate (asked agent for bottom realistic sale price), and invited offers over. Both times sold reasonably quickly, but obviously for less than that which other sellers were holding out for, whether they got it or not I didn't know or care.

My point, such as it is, is that there are people out there who will want to just get on with their lives, and that is where the leading price drops will come from. Sod the rest who don't really want to sell, you don't need every house on the market to be affordable in order to find a reasonably priced property.

skap7309

mewbie wrote: »

My point, such as it is, is that there are people out there who will want to just get on with their lives, and that is where the leading price drops will come from. Sod the rest who don't really want to sell, you don't need every house on the market to be affordable in order to find a reasonably priced property.

As above.

hethmar

I fear a lot of ftb are going to be disappointed if they believe the 4 bed detached will be within their range come next year. They have to be realistic about the likely properties coming on to the market at really cut throat prices.

ruggedtoast

Wait until after Christmas, propertybee will have a lot more blue in it then I reckon.

Prices are coming down, Rightmove and Halifax wouldnt be reporting average drops if they werent, but its slow, yes slow. Sellers who cant sell are getting frustrated too, eventually they'll only have one option.

mr.broderick

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'm sorry neo but you have in fact been living a dream. The crash isn't happening at all, it has just been made up on here - mse - as a control mechanism. You are in fact a duracell battery.

mr.broderick

ruggedtoast wrote: »

Wait until after Christmas, propertybee will have a lot more blue in it then I reckon.

Prices are coming down, Rightmove and Halifax wouldnt be reporting average drops if they werent, but its slow, yes slow. Sellers who cant sell are getting frustrated too, eventually they'll only have one option.

?

Take it off?
Rent it out?
Stay and extend?
Change agents?
Reduce the price?
Paint the walls magnolia?

Airwolf1

hethmar wrote: »

I fear a lot of ftb are going to be disappointed if they believe the 4 bed detached will be within their range come next year. They have to be realistic about the likely properties coming on to the market at really cut throat prices.

Depending on their deposit surely?

hethmar

Well true and depending on area. But I do get the feeling that some people's expectations are a bit too high.

I think also people need to remember that to have movement in the market the topish enders need to be downsizing (or dying!). We had planned to downsize but now we are staying put. In fact we have extended! I dont think we shall think about moving from here for some years now.