To those selling in these difficult times Part Deux. AKA sellers support network!

brit1234

ocalllo wrote: »

We've just dropped another £10k off the price of our hse.......it really hurts.
Now selling at same price we bought at 5 yrs ago!!!!
_pale_

Nationally house prices have fallen to 2005 anyway. Its better off lowering now than to wait kill people start seeing bigger price falls and demand a biger drop in your property.

NEH

For a second there i thought i'd lapsed into Monday again, given the boredom of the fustrated buyers brigade that needed something to do and decided it was our turn again...

I suppose we really should feel humble that they like us so much they keep coming back.....:D We're a nice bunch aren't we

tawse57

NEH wrote: »

For a second there i thought i'd lapsed into Monday again, given the boredom of the fustrated buyers brigade that needed something to do and decided it was our turn again...

I suppose we really should feel humble that they like us so much they keep coming back.....:D We're a nice bunch aren't we

Are you one of the Knights of Neh from Monty Python - you're very funny

des_cartes

tawse57 wrote: »

I read somewhere last week that there are 1.1 million houses on the market and another 700,000 expected to come on the market in the coming months but that less than 5% of these will sell in a 12 month period - WOW!

Several EAs in my home town have told me not to buy yet as they believe prices are 20% over-valued locally.

If estate agents are telling you that, I wonder how much they really are overvalued. If you look at what people earn (those who will keep their jobs) then the average house price needs to be about 100k which is about 40% lower than now. I'm one of the lucky ones without a house to sell, god help anyone who bought one in the last 5 years.

harz99

NEH wrote: »

For a second there i thought i'd lapsed into Monday again, given the boredom of the fustrated buyers brigade that needed something to do and decided it was our turn again...

I suppose we really should feel humble that they like us so much they keep coming back.....:D We're a nice bunch aren't we

Hear, hear.

It must be really frustrating for them that most sellers do not actually have to sell, rather they want to, but not at any price.

So their "the price is too high, you must drop it" mantra falls on largely deaf ears - shame:D

tawse57

des_cartes wrote: »

If estate agents are telling you that, I wonder how much they really are overvalued. If you look at what people earn (those who will keep their jobs) then the average house price needs to be about 100k which is about 40% lower than now. I'm one of the lucky ones without a house to sell, god help anyone who bought one in the last 5 years.

Most EAs in my area tell me the usual bull and then I go to the land reg site and see that the asking price of numerous houses is 60 to 100 percent more than 3 or 4 years ago.

I am told that 3 EA chains are in a bidding war trying to put the others out of business by giving higher and higher valuations which suits the egoes of sellers but then the houses just sit there for months and even several years slowly reducing.

But I have got to know a few EAs personally and they have warned me off the local market. Some suggest that prices need to drop by a THIRD to get back to sensible levels.

des_cartes

harz99 wrote: »

Hear, hear.

It must be really frustrating for them that most sellers do not actually have to sell, rather they want to, but not at any price.

So their "the price is too high, you must drop it" mantra falls on largely deaf ears - shame:D

What a strange approach. Sounds like the sort of person who puts their savings under the bed and watch it's value inflate away. Of course there are many people who do not have to sell their house, but if i had one to sell, I would not be too happy seeing it's value fall year after year thinking if only i'd sold it when it was worth tens maybe hundreds of thousands more. I guess there are people around who are just too wealthy to care.

sinbad182

Or people who know that in the long term, property will always be worth more?

Do your research, buy somewhere you actually want to live and not just make money off, and in the long run you'll be fine.

tawse57

sinbad182 wrote: »

Or people who know that in the long term, property will always be worth more?

Do your research, buy somewhere you actually want to live and not just make money off, and in the long run you'll be fine.

BBC News is now this minute talking to a surveyor about house prices falling in the UK and the belief by surveyors that they will continue to fall.

That is not some poster saying that on here but the BBC reporting what the Royal Institute of Chartered Surveyors are reporting in their latest report out today.

In the report only Scotland did not show a fall in prices, in completions and in interest from buyers.

You can be in denial about the above if you like but the RICSs are the people talking about a fall in prices now.

sinbad182

I'm not in denial, house prices fall and rise in the short to medium term through history. Like I said, If you buy a house to live in, and not to fret about making money off a quick resale, this shouldnt matter to you.

Whilst prices will fall whilst confidence is low in the economy, the all encompassing crash I imagine you're whipping yourself into a frenzy wont happen.