Had an offer....what is this a joke?!!

Austin_Allegro

botchjob wrote: »

I'd ignore all the doom-mongers and give it some more time if i were you. Three weeks is nothing. Crouch End is a desirable post code where people want to live. So long as it's priced comparatively well, I'd be surprised if you don't get other offers.

So much depends on the location. A house in my road (Stoke Newington, not unlike Crouch End in terms of profile) has just gone to highest bids with 2 buyers fighting over it. It ended up going for 5% less than an identical house which sold last summer.

All this talk of 30%, 40% and 50% drops is all very well but it simply ain't true everywhere.

Anyway, good luck on the flat sale!

As it's Stoke Newington, are you sure it was the house they were fighting over, and not a lump of crack?

Property Snake would indicate that asking prices in N8 (Crouch End) and N16 (Stoke Newington) are dropping by hefty amounts, so whilst some properties may still attract interest (probably due to a bull trap), no area is immune from quite large falls:

http://www.propertysnake.co.uk/site/postcode/n8
http://www.propertysnake.co.uk/site/postcode/n16

barnaby-bear

PasturesNew wrote: »

This was on at £350k and is now at £210k
http://www.rightmove.co.uk/property-for-sale/property-17172658.html

Doesn't fit the description - kitchen's a bit "country" - certainly doesn't fit the refurbed description and looks like a yard i.e. downstairs not with loft conversion potential....

lethal0r

imo you'd be very lucky to get £230k the way prices are falling right now. it must be hard when you've done so much to it.

the worst thing you can do is to chase the market down, if you find you've still not sold in april and your saying 'ok we'll accept £225k now' then thats exactly what you're doing.

im buying in april and im gonna offer £10-15k below most prices, and thats on houses that are going for about £100k. most will say no im quite sure, but prices are falling fast with more properties building up unsold, so somewhere down the line somebody will say yes.

i expect most FTBs will be using exactly the same process.

downs523

suckers2008 wrote: »

All the walls had to be re-plastered, two of the walls were so rotten that they had to be pulled down and started again which then made me re-jig the layout of the flat and I lost a bedroom in order to have a massive 21 by 20 foot living room and seperate 15 x 14 foot kitchen, all the windows were replaced - I have 3 alone in the living room! So 7 in total with the bedrom having a window taken out and french windows put in which leads to a balcony that I had put on the back of the house - a complete sun trap in the summer!! £40K is easily spent!

sounds like a nice place, is it up for sale online? put a link up?

silvercar

downs523 wrote: »

sounds like a nice place, is it up for sale online? put a link up?

I couldn't see it on rightmove. To be fair the properties in crouch end that were on rightmove at 250k were much smaller.

botchjob

Austin_Allegro wrote: »

As it's Stoke Newington, are you sure it was the house they were fighting over, and not a lump of crack?

Ha ha. Here speaks someone from the provinces. Of couse EVERYONE IN LONDON IS ON CRACK.

mbynwa

PasturesNew wrote: »

This was on at £350k and is now at £210k
http://www.rightmove.co.uk/property-for-sale/property-17172658.html

Nothing that special for £350k, i guess it is all about location, location, location

Greenstuff_2

QTPie wrote: »

A house is worth nothing until a seller and a buyer can coverge on their expectations... (i.e. the value of a house is not dictated by a buyer alone - the seller has to AGREE to sell it at that price)

Er you forgot someone.
The very important mortgage lender has to agree the value too...

suckers2008

Hmm interesting now I am a liar

I will not continue to use boards that do nothing but have people on them who have far too much time on their hands to choose to belittle others or have their little wsiecracks - why on earth after all of these comments would I then put up my property? Knowing you vindictive liot you would probably arrange vieings or come and smash my windows

P.S For the record I got my sums wrong before - after getting a recent statemtn from the mortgage company and going through my old paper work I found that out - not that it matters now as I am either a schitzo or a liar so thanks
From a pregnant, intelligent decent newly married woman who has worked hard her whole life and brought her first house at 22 in london which is probably more than any of you lot have ever done

neilrich

suckers2008 wrote: »

Hi All

My flat has ben on the market for nearly 3 weeks and we got or first offer yesterday.....for £40K under the asking price!!! What are these FTB's on???!!

What are you vendors on?!! In case you had not noticed our economy is on its knees and our banking system has gone to the wall!! Unemployment is set to rise above 3 million and we have the very real prospect of deflation!! The housing bubble has burst, to see how this shall pan out check what happend in Japan over the past twenty years.

Anyone serious about buying property in today's market really needs to check house prices of a decade ago...yes, that's right, a decade ago!! Do you believe that our economy is better placed today in 2009, when compared to say 1999? The damage has been done and our economy is flawed, record trade deficit, record budget deficit, and the goverment would have you believe the answer is to borrow yet more money. The UK Housing market is the biggest asset bubble in history, we have a massive mountain of debt to match.

Think outside of the box, why would anyone pay a premium over house prices of a decade ago?

If you've purchased property in the past six or seven years, then I'm sorry, but you've lost. Who was it that said house prices never fall in value?