Why arent HP falling fast enough thread

Airwolf1

Yoshua wrote: »

Only a fool would buy any property now even for heavily discounted bargin prices.

Everyone knows next year will see further bigger drops and eveyone also knows that it will be a long time before we see any stability.

The only surprise is why they still havent fallen more than they have?

Why would only a fool buy now? Does it not depend what is accepted? You can always make a reasonable allowance in your offer to account for falling house prices. Someone may see their "dream home" - put an offer in and see if it is accepted if affordable.

Some prices haven't fallen as much as they should because some sellers may not be desperate to sell and their house hasn't fallen in value and is excluded from the current trend (sarcasm there by the way) - in other words, they will lower asking prices if there is a need to sell.

besonders1

If they are not desperate to sell then why are they selling anyway. If you have 3 similar houses opposite each other in a street, one of for 100K and 2 up for 80K then its obvious no one would want to be interested in the 100K house.

Airwolf1

They could be selling now as they want to move, but it may not be considered that urgent as to under value the house to sell it, eg someone travelling a great distance into work may want to move nearer to work.

bo_drinker

Would you be lopping huge chunks off the price of your house/ home/ pride and joy if you were trying to sell, I think not.

Cat695

bo_drinker wrote: »

Would you be lopping huge chunks off the price of your house/ home/ pride and joy if you were trying to sell, I think not.

Then your rather stupid selling when house prices are coming down....because people will expect you to drop your prices whether you like it or not.

jimcoxell

Raffles99 wrote: »

The best offer was well below the price the agent said he would get, and he had to agree to a 3-year unbreakable rental contract where the tenant can leave at any point without penalty

I have seen thousands of tenancy agreements and not one has had those terms.

Are you talking about a large London property?

bo_drinker

Cat695 wrote: »

Then your rather stupid selling when house prices are coming down....because people will expect you to drop your prices whether you like it or not.

Maybe, but a lot with for sale signs are sitting there with their fingers in their ears singing la la la la la la when told they need to drop prices. We sold in October, sitting waiting for the "right" one to come up for sale now, and when it is not selling hit them with an offer as we have nothing to sell and are cash buyers. Depends how long these people want to look at a for sale sign in the front garden.......

crazygaijin

In the new year we are going to see more drastic price drops all over.

People know that we are in for the worst time in recent history and want to get at least something for their home before the things the doomongers have been predictiong for ages really start to happen big time.

Yes anything is possible in these times.

poppy10_2

They've fallen faster than at any time in a generation - even last year the bears were predicting 5-10% drops maximum for 2008, and we've seen 15%+ already. Don't be impatient!