A trilogy in seven parts.....hypno's latest efforts

ZTD

ShelleyC wrote: »

I actually don't think there's going to be huge further drops but any rises will start all the EAs going wappy. I had a row with one at the begin of the crash who said larger houses in Norfolk wouldn't be affected. The house concerned has only just gone under offer for 45k less than we were discussing then.

I do really feel for anyone who's in NE or had their LTV ratio b*ggered up and but for a quirk of fate I'd be one of them.

There will be more drops until it reaches the bottom. A bottom is when there is no one left who wants to sell, but with buyers who want to buy so prices *have* to rise to entice the sellers.

Going up, or going down, prices never do it in a straight line. There will always be zigging and zagging.

ShelleyC_2

In a purely selfish way it'd be fab if they dropped lots more - doubt it'll be enough for me to buy the ELizabethan Manor house I

I think maybe a further 10% down from peak. I will buy now if I see dream home at realistic price as its gong to be my home for a long while. I'm sure hypno will agree some places round here don't seem to be dropping like they should according to stats.

hypno06

There doesn't seem to be any real "pattern" round here.....certainly the houses that I am looking at don't seem to have dropped much so far.....but then again, you look at others and think "blimey, that's cheap".....It is all down to individuality and the circumstances of the person selling.......

The "standard" house price falls apply more to the houses on the developments or the terraces, where the price of one house becomes the benchmark for the whole street.....

But of course I am not yet in a position to move, so it is a bit theoretical for me, but in 12 months time, if I see something I will move heaven and earth to get it!

ZTD

hypno06 wrote: »

There doesn't seem to be any real "pattern" round here.....certainly the houses that I am looking at don't seem to have dropped much so far.....

But are you talking about asking prices, or selling prices?

ShelleyC_2

Quite a lot of the houses I looked at when I first started, nearly two years ago, are still on the market so no harm in keeping your eye in now :j

ShelleyC_2

ZTD wrote: »

But are you talking about asking prices, or selling prices?

I'm a bit OCD so I have lists of lots of houses I've looked at with their various asking prices and actual sold prices. In the two years only five of the houses have sold. Figures as per Land Registry show they've been 10-15% under final asking prices. About 8 down as under offer or SSTC on right move at the moment.

Tricky to say how much they've dropped as most things I'm looking at are one offs that haven't been sold in the last 10 yrs!

skint_spice

ShelleyC wrote: »

Quite a lot of the houses I looked at when I first started, nearly two years ago, are still on the market so no harm in keeping your eye in now :j

There's a house here that I quite like that's been on at the same price since last summer, I'm wondering if they are leaving it on so they don't have to do a HIP (only came in dec up here) but obviously they need to reprice if they want to sell. It's nicely decorated but I think they want to recoup their investment and then some which isn't going to happen.

ZTD

ShelleyC wrote: »

I'm a bit OCD so I have lists of lots of houses I've looked at with their various asking prices and actual sold prices. In the two years only five of the houses have sold. Figures as per Land Registry show they've been 10-15% under final asking prices. About 8 down as under offer or SSTC on right move at the moment.

Tricky to say how much they've dropped as most things I'm looking at are one offs that haven't been sold in the last 10 yrs!

Might as well "advertise" this again. Let the machine take the strain...

savingholmes

I asked an estate agent what houses had sold for on our estate. House like ours £15K less - bigger house than ours but repossession about £25K less! Very annoying as it puts pressure to lower our house prices too. We were considering relocating earlier this year - but the house market kyboshed that...

hypno06

That property bee thing looks good Z....:T

Well, another weekend....another ski race.....so another early morning....therefore another coffee fuelled day to keep me awake :rolleyes:

Hope you have a good one, whatever you do! I am off to scratch and bank first!