1000's of cheap homes coming onto the market very soon

skap7309

Something that i thought about recently is i think this bull trap we are currently in helps buyers just as much as sellers. The reason? Sellers who left the market for the 'downturn innit' are slowly coming back.

A good example of this is a house over the road was up for £210k (overpriced) and after 6 months it dissapeared from the market. Two houses in the street sold (they were well priced) and so a week later the house that pulled out re-appeared - at £210k. It is only a matter of time that this couple realise they are not going to 'ride the storm' and will leave it on the market, rather than pull it. A few low offers may help them see sense. :rolleyes:

Moral of the story is - more houses to choose from - better chance of chasing the few buyers there is - lower house prices for everyone!

Does anyone agree?

Running_Horse

Idiophreak wrote: »

Good question.

Don't see why these people are in a "no win" situation - they can just ride this out and wait for prices to recover?

That's what I did in the 90s, and sold my house in 2007 with £120,000 equity.

A lot of unsold houses round here are coming back on the rental market.

Things will have to get a lot worse before people start giving away their houses. But good luck to the OP with the silly offers. You might get lucky.

technik_2

1984ReturnsForReal wrote: »

Alot of them idiots needed a house..



You know.... One of them things to live in.

rent?

In reality a sizeable proportion of those jumping on the ladder late in the game were a) given dodgy advice and chose to believe it. b) just didn't understand the concept of a terrace house in some industrial backwater being £250,000 was lunacy. c) clouded by their aspirations to be a home owner (a legitimate reason really).

hearts

bing0 wrote: »

It's now only a matter of time before buyers with negative equity start realising they're in a no win situation.A sad situation that I wouldn't want to be in..............BUT

I do hope through all this I find a property at a bargain price !

My plan over the next several week is to put VERY low offers on lots of property,it has to be just a matter of time before one caves in (fingers crossed)

Have a nice day

Maybe just me but I find something very distasteful about this post :cool:

1984ReturnsForReal_2

technik wrote: »

rent?

Rent what?

Housing Association & Council waiting lists are years.

Private sector? That would drive house prices up & also is a temporary fix with housing as the landlord can sell their property.

technik_2

1984ReturnsForReal wrote: »

Rent what?

Housing Association & Council waiting lists are years.

Private sector? That would drive house prices up & also is a temporary fix with housing as the landlord can sell their property.

I don't see anything driving house prices up in the next few years. In some areas they already ditched by over 1/4 and it'll carry on...as it has to.

In most towns and cities in the land there should be no houses anywhere in the boundaries over £150,000 yet we still see remnants of the lunacy pricing.

Whats the average been in the past? Something like 3 or 4 times average earnings? £100k should be around right then. We have a long way to go. Good luck to anyone who bought a house in the last 2 years.

1984ReturnsForReal_2

technik wrote: »

I don't see anything driving house prices up in the next few years. In some areas they already ditched by over 1/4 and it'll carry on...as it has to.

In most towns and cities in the land there should be no houses anywhere in the boundaries over £150,000 yet we still see remnants of the lunacy pricing.

Whats the average been in the past? Something like 3 or 4 times average earnings? £100k should be around right then. We have a long way to go. Good luck to anyone who bought a house in the last 2 years.

The post refers to people in negative equity being responsible for inflating house prices.

It doesnt refer to current markets.

"Good luck to anyone who bought a house in the last 2 years?" Where have you been?

We might be hitting the 5 year mark soon.

Thrugelmir

bing0 wrote: »

It's now only a matter of time before buyers with negative equity start realising they're in a no win situation.A sad situation that I wouldn't want to be in..............BUT

I do hope through all this I find a property at a bargain price !

My plan over the next several week is to put VERY low offers on lots of property,it has to be just a matter of time before one caves in (fingers crossed)

Have a nice day

If they are in negative equity, they would be unlikely to accept your offer as they wouldn't be able to redeem their mortgage.

Blacksheep1979

Graham_Devon wrote: »

So all the people who needed a home and couldnt wait, who have been caught out, are simply idiots?

And they couldn't rent because?

bo_drinker

Remember proceedable purchaser with cash is definately king. If only the right place comes up, not any old sh1te.