Everyone says house prices are dropping like a stone but are they ??

mbga9pgf

nudda wrote: »

how do you go about looking for quick-sale houses such repossessions ? I cant work this one out.

Go to the auction sites. Or, failing that, ask the EA. sometimes they will let you know.

poppysarah

Don't buy a house because it's a repo. Buy it cos it's the right price and right house for you.
Look for white notices in the window

nudda

Thansk folks
will continue searching as I have done then and keep an eye on repo's altough end of the day its the price which needs to be right as someone said !

poppysarah

As well as using rightmove email/ring the local eas - tell them where & what budget you've got. Sometimes they have mailing lists.

zone

I think they are just starting to drop now. Perhaps by the end of this year or into next year more people will be dropping their prices. But even then it will depend on how desperately people need to sell. If they drop too much a lot of people will probably just withdraw from the market. I could be wrong though..

hethmar

The bulk of sales will be repos this year I reckon.

besonders1

Almost all the houses I have looked at are repossessions (I did not intentionally go looking for them but they were the only houses I could afford). I personally don't like buying repossessions because of the competition you get with other buyers and the offer advertising rule so your better off looking for a house that needs some TLC e.g a house that was owned by an elderly person who needs to sell to move into care or bungalow etc. You'll find that these people may be willing to accept lower offers as they want it sold but the houses including repos will need a lot of work done to them such redecorating, new kitchen units, some still have ugly green avocado bathroom suites etc. As for other sellers they are just in denial and only seem to reduce their homes by 2K so hardly a bargain so we might not have much choice unless you want negative equity etc.

stolt

BettiePage wrote: »

PB is only a year old so some of the properties may have been on RM for even longer. I know they have around my neck of the woods.
Also, some agents now relist the property rather than dropping the price. This means it comes up as new and also means that previous asking prices are masked.

there is an agent where i live that keep listing as house as SSTC and then it magically reverts back to up for sale again. Seller openly admitted to us the agent was foing it but it put us off, and probably countless others because it looked to an outsider that there were issues with the hosue once it got to surveys etc. When i mentioned this to the seller he said oh I hadn't thought of that!

PasturesNew

My ex-neighbour sold his house in Aug 2004 for £250k
It went back on the market in Oct 2007 for £289k
Late December 2007 it had a repossession notice in the window and is an asking price of £210k now.

moggylover

BettiePage wrote: »

This one has dropped £80k.

This one £45k

£90k.

£350k

£525k+

£750k


Not sure where in Berkshire you are though.

Edit: Must say, I'm actually surprised at the Windsor/Ascot ones dropping by such large amounts.

Ooooh! I want the one in Datchet! But would have to win the lottery first:o