Asking prices just havn't moved !?!?

cranezoe

In my search Im putting offers forward and then when they are rejected Im saying "Ok then, on to the next property". EA are all pushing everything at us trying to sell us something and we are sticking to our list of what we want from this move. If we cant find it it wont be worth moving.
Another thing one EA is doing is trying to get us to view properties SSTC - presumably in the hope we will offer higher or that they know we are in a better position or something. Not gone for that.
Just arranged to see 6 properties on saturday morning.

neverdespairgirl

I don't think gauzumping or gazundering are fair.

Having said that, I'd make an exception if someone's mortgage valuation came back for less than the offer price. Most people just couldn't make up the difference, and they should be open with the seller about the problem.

mean_momma

neverdespairgirl wrote: »

I don't think gauzumping or gazundering are fair.

Having said that, I'd make an exception if someone's mortgage valuation came back for less than the offer price. Most people just couldn't make up the difference, and they should be open with the seller about the problem.

No, gazumping/gazundering are not fair tactics, but while there is a system, many will play it, adding to the uncertainty of the market, not to mention huge personal stress for the unfortunate 'victims'.

As for mortgage valuations coming back as less than the offer price - judging from what happened in the last recession, loads of surveyors/valuers will be covering themselves by declaring extra low values nowadays. Downside, sellers can factor that in, then allow for a spot of gazundering for good measure. I guess the winners will be cash buyers, willing to complete in 24 hrs!

hethmar

neverdespairgirl wrote: »

Try another neck of the woods, then?



http://www.rightmove.co.uk/property-for-sale/property-19844887.html


http://www.rightmove.co.uk/property-for-sale/property-17091799.html


http://www.rightmove.co.uk/property-for-sale/property-23513726.html

All these have either just come on, or been on a while and dropped in price. Hard to see how any is not "nice".

All beautiful, but not the norm NDG - these are dream houses/lottery wins for most people, not your common or garden buyer.

Although, I didnt like the mock tudor one! The Georgian one is right on a main road so Id not go for that either - the oast house may be ok but miles from shops

besonders1

neverdespairgirl wrote: »

I don't think gauzumping or gazundering are fair.

Having said that, I'd make an exception if someone's mortgage valuation came back for less than the offer price. Most people just couldn't make up the difference, and they should be open with the seller about the problem.

I think gauzumping or gazundering should be banned and I wouldn't want to be a victim of it but sadly it is something that happens frequently and are useful greedy tactics. Personally I wouldn't trust a buyer or seller that did this but I suppose what choice we have in todays market?

As for another Boom like we have just seen, I would image we would all be in nursing homes by then with crusty, sarah beany and phil sat beside us with their walking sticks and being forced to watch an old episode of property ladder.

kennyboy66_2

neverdespairgirl wrote: »

I don't think gauzumping or gazundering are fair.

Having said that, I'd make an exception if someone's mortgage valuation came back for less than the offer price. Most people just couldn't make up the difference, and they should be open with the seller about the problem.

To be honest, I don't think that even counts as gazundering.

hethmar

No, it would be common sense.

Sir_Humphrey

In my area (SW16) some sellers have not been cutting asking prices, but some others have been doing big price cuts. Out of the properties that have decide to cut (i.e actual try to sell rather than decorate EA windows) I reckon there has been about a 15-20% drop. They seem to happen in jumps rather than a smooth fall. EDIT: By "cut" I mean drop price, or initially market at a lower value than peak price.

timberford

The reason prices went up in the first place is because there are more people who want to buy than there are houses for them to buy.

Simple supply and demand. I have a house and you want it, I can charge you a premium.

Now the property developers have stopped building so the supply side of things is not changing. Arguably it's getting worse as time goes by and more people have their deposits ready.

Obviously the demand has gone down due to banks not lending so we have the current stalemate.

I believe that once the finance becomes available people will start to buy again. There will be people who'll wait for bargains, but I think the people in the houses will just sit that out - as they are currently doing.

Cat695

timberford wrote: »

The reason prices went up in the first place is because there are more people who want to buy than there are houses for them to buy.

Simple supply and demand. I have a house and you want it, I can charge you a premium.

Now the property developers have stopped building so the supply side of things is not changing. Arguably it's getting worse as time goes by and more people have their deposits ready.

Obviously the demand has gone down due to banks not lending so we have the current stalemate.

I believe that once the finance becomes available people will start to buy again. There will be people who'll wait for bargains, but I think the people in the houses will just sit that out - as they are currently doing.

your right in what your saying but there are many reasons why people can't just sit and wait....they are the ones that are going to have to take the hit