offer on house, choice of two....

stolt

Catblue wrote: »

Might be worth speaking to the vendors of the 5 bed face to face. Something along the lines of "love your house - next door has the potential to be nearly as nice as yours but unfortunately the place will be a building site for a year. We're not looking forward to that bit".

The 5 bed people won't be happy about living next to a building site, and might feel that the noise of major works going on next door will have a detrimental effect to their chances of selling. It might focus their minds a bit.

Don't give up - you've managed to narrow down your search to a particular area and are homing in on just a few houses. It will happen soon.

Thanks, yes it did cross my mind and I did say to the EA this morning that if we get next door I willl be looking to extend the above the garage etc and then they probably won't be talking to me!

jstallan

Is the size of the garden important ? You say the 4 bed has a small garden

stolt

jstallan wrote: »

Is the size of the garden important ? You say the 4 bed has a small garden

it is important, the 5 bed has a slightly wider garden probably 8foot or so, so not overly bigger than than the 4 bed house.

blued

stolt wrote: »

I appreciate the opinion from the other side so to speak however the 5 bed house has been on the market for 2 years nearly and for 450k so unless they knew the 'credit crunch' was coming and factored that into the price in 2007 then in my reckoning they haven't took that into account!

i've seen some threads like you say where people are offering 20% less or more which is taking into account a further drop in house prices that seems so talked about.

I personally didn't think i was being too unfair asking them to take into a account a 10% drop from 2007 prices. In fact if it was me I would have jumped at my 405k offer but then thats me, probably why i sold in 2007 and have been renting ever since.

it's true they perhaps they don't have to move and maybe someday they will get the 425k they really want which is only a 5.5% drop on 2007 prices so would consider them to have done very well indeed. Perhaps they are going to hold out until prices go up but again reading several threads that could easily be 5/10 years away. All that time they could ahve spent with the grand daughter they so want to be near!

At the end of the day I know they want at least 420k, if i dont want to pay it i don't get the house.

As you have pointed out there are buyers out there screwing sellers at the moment but there are still plenty sellers that believe there houses are worth so much and don't realise that people cant get the mortgages together and its tougher out there.

Sorry I was going by what you said it was currently valued at, missed the part about the fact that it was on the market for a couple of years at 450! Strange that the value remains the same now according to the calculator (which I suppose could be too high). Possibly if this one was first on the market early 2007 the value may have gone up during the time on the market and it was never revised in the listing and then down again to what it currently is. Who knows!

I think the problem is where someone has their house on for much more than the current value and isnt willing to drop it. If its on at the current value (obviously a proper valuation would need to be carried out) then I wouldnt be so worried about buying. I do find it quite strange that buyers want you to factor in future possiple drops in the housing market and reduce the price they want to pay now! If I was buying a new car and asked the salesman to factor in the depreciation that would occur just by me driving out of the showroom I think I'd get laughed at!! I know they're completely different things but hopefully you can see where I'm coming from!

Anyway it sounds like you like the house, the area and arent planning to move for years. From the info supplied £420k sounds like a decent price.

Good luck with what you decide

stolt

blued wrote: »

Sorry I was going by what you said it was currently valued at, missed the part about the fact that it was on the market for a couple of years at 450! Strange that the value remains the same now according to the calculator (which I suppose could be too high). Possibly if this one was first on the market early 2007 the value may have gone up during the time on the market and it was never revised in the listing and then down again to what it currently is. Who knows!

I think the problem is where someone has their house on for much more than the current value and isnt willing to drop it. If its on at the current value (obviously a proper valuation would need to be carried out) then I wouldnt be so worried about buying. I do find it quite strange that buyers want you to factor in future possiple drops in the housing market and reduce the price they want to pay now! If I was buying a new car and asked the salesman to factor in the depreciation that would occur just by me driving out of the showroom I think I'd get laughed at!! I know they're completely different things but hopefully you can see where I'm coming from!

Anyway it sounds like you like the house, the area and arent planning to move for years. From the info supplied £420k sounds like a decent price.

Good luck with what you decide

Thanks, yeah I dont think its wrong of some buyers to say well I'll buy your house now but I want an extra 5% off which is what I expect them to drop in a few months.
I going to go back on the nationwide wesbite in a minute to make sure i got my figures correct, I suppose when you look at it like that 420k is a decent price.

At midpoint in summer 2007 the house was actually up for 475k which was in my opinion slightly over priced back then, but i thought they were putting it on to get a price of 450k.

In my minds eye I wanted to see a drop from the 2007 prices in line with what has been banded around ie 10% at least but i guess that isnt going to happen with these vendors and they could and probably would sit it out until prices start to rise.

Our problem is that we have been in 2 bed small bungalow with three children under 7 for 15 months and I really want a home for them, let them have their own rooms, and a decent garden they can play in.

Swishy_bell

Just something to think about (as if you didn't have enough already) but 10% drop from its peak of 475000 is 427.500 so I guess they might be thinking 420000 if just over a 10% drop.

downs523

that nationwide house price calc is not accurate for the property i have just purchased. it was 185k in late 2005, says its now worth 184103 but i got it for 140k.?? strange how nationwide work this out

stolt

downs523 wrote: »

that nationwide house price calc is not accurate for the property i have just purchased. it was 185k in late 2005, says its now worth 184103 but i got it for 140k.?? strange how nationwide work this out

i've just re-checked nethousprices for whenthe hosue sold in 2003, it went for 260k in august, so nationwide is saying..

'':A property located in UK which was valued at £360,000 in Q3 of 2003, would be worth approximately £435,092 in Q4 of 2008. This is equivalent to a change of 20.86%.
''

so technically just over what i'm paying.

Doozergirl

Don't give up - they said lowest was 425, now 420 in a matter of days, they are keen to negotiate because the EA is calling you!

Don't be scared - put in an offer for 412 if you want to! You can get people down from the price in their head today - people have managed it with me even - you start thinking it's not that much when it's a gradual slide down. They adjust by 5000 then perhaps another 2, then another 2... you are so close to this that i think you can persuade them down further. I'm sure you can get this for 415 if you just keep in their faces and keep dialogue open. Go for another viewing - make them touch this sale and make it clear they have competition next door!

stolt

Doozergirl wrote: »

Don't give up - they said lowest was 425, now 420 in a matter of days, they are keen to negotiate because the EA is calling you!

Don't be scared - put in an offer for 412 if you want to! You can get people down from the price in their head today - people have managed it with me even - you start thinking it's not that much when it's a gradual slide down. They adjust by 5000 then perhaps another 2, then another 2... you are so close to this that i think you can persuade them down further. I'm sure you can get this for 415 if you just keep in their faces and keep dialogue open. Go for another viewing - make them touch this sale and make it clear they have competition next door!

evening doozergirl, yeah sure youre right but right now we are feeling a bit down with ourselves (good news why) but the wife is stressed and to her its a dream home. I don't like playing games unfortunatley its seems others do more than me.
I dont want to go straight in with another offer because they probably think i'm loaded and will just keep asking for more.

Going to have a beer now and try not to think about it, would love to go around again but at my brother in laws house over the weekend. Unless I book a viewing and squeeze it in before we go! tempting:D

I hope youre right and we get it for 415k, going to cross everything