Unrealistic sellers raise prices - latest rightmove survey

fatpig_2

This just means that the muppets will have to wait twice as long to sell their properties.

davilown

Cozworth806 wrote: »

I am buying a house for 160k that sold for £174k in 2004.

There are 4 other similar houses on the street that are on for at least £197k
Rightmove

Its a wonder they aren't selling, and even at 160k I am concerned that prices drop further! The survey did come up to value so we are going ahead fingers crossed

Good result! Does that £14k less put is possibly at late 2002/early 2003 price? I think you may have bought at a very good price. Are there any details for 2006/7 prices?

Davesnave

MrDT wrote: »

#1 - Asking price set at 115k in July 2008. No change since then.
http://www.rightmove.co.uk/property-for-sale/property-15450343.html

#2 - A carbon copy house, could be next door, but with the added benefit of a little conservatory - came to market this month asking price 98k.
http://www.rightmove.co.uk/property-for-sale/property-11608191.html

House #1 has a new price, they just don't know it yet. I bet they won't be thanking their neighbours lol
:rotfl:

I see House 1 has one of those 'imaginative' Welsh agents too! Two almost identical photos. Hey, didn't they have some lovely Artex and plastic mahogany to show off? No diagonal, criss-cross, leaded light windows?

I'm not anti-Welsh. Far from it. At least they have a culture. Looking there myself and used to the vernacular architecture, even though I'd rip it out in a fortnight if I bought into some.

Like lostinrates, I'm after landed, individual houses, and in Wales they really aren't moving downwards price-wise as fast as they ought to, perhaps because it can take 18 months to sell a house there in 'normal' conditions!

Anyway, I have a secret weapon: I first looked at Welsh property in 2002 and I kept all the property papers and agents' details, so I know where they should be heading.....

Cozworth806

davilown wrote: »

Good result! Does that £14k less put is possibly at late 2002/early 2003 price? I think you may have bought at a very good price. Are there any details for 2006/7 prices?

The house I am buying was built in early 2003, but for only £138k, so a big jump in 18 months. I would put 160k at late 2003 or early 2004 price.

In 2006 the houses that sold went for between £185k and £205k, but there is a slightly range of layout and gardens etc.

Kenny4315

I am searching for some propertiers and I am finding that these sellers need a reality check, they still seem to think that the market hasn't fallen. I also agree that the EAs are being a pain, because of the current situation I think that EAs are valuing artificially high in order to get property on the books. Once they value it a X then the seller becomes relectant to take 10% to 15% off even if that's what it should have been valued at in the first place. The other thing is that many are holding because the SVR is low due to BBR at 1%, this makes it cheap to keep, until Mr Clown & Hs Darling, with the aid of the Muppet PC, allow interest rates to spiral out of control once the printing press and hyper inflation period begins.

overlander

Patience house prices have got a long way to go(down) the free cash from the money tree has dried up.

poppysarah

I tried to book some appts to view today. The EA was quite chatty about not knowing if they were still actually selling their houses as they'd not been in touch for a while and last time they contacted the one seller he's not got back to them...
She put it down to people being fed up with the slow market...

I'd have said it's down to their high prices myself!

treliac

If they feel desperate to sell, they'll have to get real about prices. If not, they can sit and wait and watch them sink even lower.

Davesnave

After being thoroughly rude on here about owners not reducing, I went on t'Interweb last night and discovered one of my 'interesting' properties has dropped £80k since November, with a £50k fall in the last week or so.

Now I'm thinking: 'What's wrong with it?'

As it's 150 miles away, it's a long, expensive job finding out. But if it's still there at the weekend, I may just have to look.....

A flash in the pan, or the shape of things to come?

lethal0r

a house near me was on for £144k for about a year. now its going to auction guide price £89k.