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Debate House Prices
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Mortgage lending hits a new record low.
Comments
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Do Cash buyer show up on mortgage approvals?
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I think LIR said she was beeten to a house by a cash buyer.
Yep, as was another bidder (I must add we had not bid, or even viewed! when the house went under offer). Price reduction friday, house bid on on Friday by first bidder, cash offer staurday, sstc on Monday. That IS the problem with finance, however we get things in place in advance, we simply couldn't move that quickly.
Cash bidder offered lower than other bidder (EA was not forthcoming about other bdders situation, rightly) and seems to have been sealed up very, very quickly.
It won't show up on mortgage approvals but should on LR, AIUI.0 -
lostinrates wrote: »Yep, as was another bidder (I must add we had not bid, or even viewed! when the house went under offer). Price reduction friday, house bid on on Friday by first bidder, cash offer staurday, sstc on Monday. That IS the problem with finance, however we get things in place in advance, we simply couldn't move that quickly.
Cash bidder offered lower than other bidder (EA was not forthcoming about other bdders situation, rightly) and seems to have been sealed up very, very quickly.
It won't show up on mortgage approvals but should on LR, AIUI.
multiple bids on properties now... a long time since i've heard that...
things must be getting better
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multiple bids on properties now... a long time since i've heard that...
things must be getting better
Yep, much better, the price before reduction was 40% higher than reduced price
and the reduced price is 50% lower than nearest comparable I can find, and scary percentage lower than average of comparables I've found 0 -
What is so astonishing about it Conrad? Only seems a while back you were on the cusp of buying "cheap" from a developer, as the EA convinced you on selling immediately for a fat profit.
Cmon. Give us more of your uber-bear accusations. Cmon. Tell us what Warren Buffett would do and how now is the time to buy.
You're not that stupid Conrad.. you've got my respect for selling up on your properties before the very peak.
I've got to admitt, I sold those B2Ls because I'm a pessimist at heart, and not some genious, or I wouldn't be a mortgage broker, in'it.[URL="javascript:add_smilie("]
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Having said that, I'm up and down. I admire some of you that are steadfastly pessimistic or optimistic. I seem to float along with the daily tide.0
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