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

des_cartes

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.

I agree that over the long term property will be worth more. I sold my house in 2006 because i knew what had to happen. I do not intend buying another one anywhere near the price i sold mine for as I would need to take a huge loss before the price went up again. It's obvious really if you think about it, houses trebled in value in 10 years before 2007 but wages only went up a small amount. Unless people earnings rise then house prices must go down otherwise nobody can buy now that dodgy lending is no more. I sympathise with anyone needing to move but they should really not believe that sticking out for last years price will help them, better to take a small loss now than a much bigger loss next year.

sonastin

des_cartes wrote: »

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.

Its not that strange an approach. Unless you need to sell your house, you haven't lost anything. Prices will eventually recover - be it next year, in 10 years, even longer. No one knows when that will be but it will eventually happen. No one knows what inflation is going to do to that spending power in the mean time. Anyone who claims they know is confusing knowledge and belief. And for a lot of homeowners the risk of the effects of inflations do not justify giving up the security of having a roof over their heads in the meantime. Every risk has its cost and the risk of general inflation outpacing house price inflation doesn't carry as much weight as the risk of not having a home of one's own to some people.

des_cartes

sonastin wrote: »

Its not that strange an approach. Unless you need to sell your house, you haven't lost anything. Prices will eventually recover - be it next year, in 10 years, even longer. No one knows when that will be but it will eventually happen. No one knows what inflation is going to do to that spending power in the mean time. Anyone who claims they know is confusing knowledge and belief. And for a lot of homeowners the risk of the effects of inflations do not justify giving up the security of having a roof over their heads in the meantime. Every risk has its cost and the risk of general inflation outpacing house price inflation doesn't carry as much weight as the risk of not having a home of one's own to some people.

Put yourself in the position of someone who bought a house within the past 5 years though. If you sold now, with luck you might get back what you paid for it. Much better to do that than be faced with many years of negative equity and be stuck and unable to move. There could well be inflation but in the cost of things, particularly imported goods, not in wages. Wages cannot rise as the UK has to compete with countries like India and China where wages are much lower already coupled with the fact that there are already nearly 3 million out of work with at least half a million more public sector workers joining the dole queues pretty soon.

tyllwyd

Anyhow, to get away from discussing whether prices are going up or down (yawn - please remember there is a whole sub-board for that), our EA has rung to book another viewing. This time a lady who has not put her house on the market but has someone she knows expressing an interest in it. Not exactly a proceedable buyer then - I couldn't help myself laughing out loud.

sonastin

tyllwyd wrote: »

Anyhow, to get away from discussing whether prices are going up or down (yawn - please remember there is a whole sub-board for that), our EA has rung to book another viewing. This time a lady who has not put her house on the market but has someone she knows expressing an interest in it. Not exactly a proceedable buyer then - I couldn't help myself laughing out loud.

Here's hoping that what sounds implausible and unproceedable actually turns out to be a straightforward sale on her part leading to a straightforward sale on your part too. Stranger things have happened

steve1980

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.

Fantastic estate agency! You'll find it's the estate agents that value the property. When I was an agent if a vendor wanted their property on at an unrealistic price then I would refuse the instructions.

tyllwyd

sonastin wrote: »

Here's hoping that what sounds implausible and unproceedable actually turns out to be a straightforward sale on her part leading to a straightforward sale on your part too. Stranger things have happened

True - but the last house we sold, two of our neighbours had told us they would like to buy it if we ever decided to sell and one of those told us she had someone else who had told her that they wanted to buy her house. Nothing came of it in the end! Still, as you say, stranger things have happened.

jw2003

We have just had a really positive viewing. They used to be tennants next door but one and moved away to build their savings and would like to move back into the area. The said they had seen a few houses the same which are on for more than ours but not to as good a standard. I was quite pleased to hear that after Friday's viewing. Even if nothing comes of it I feel better

jw2003 wrote: »

I spent hours researching local house prices, what they were on at, selling for, how long they had been on the market for and the figure we came up with was the same as the estate agents so I found it particularly annoying when someone says 'we've done our research and a house on the next street sold for £20k less than your is on for' yes, however, said house on the next street was a wreck and needed completely renovating. Not many houses go on the market in this immediate vicinity but the last 2 to have been sold were on for similar prices and sold within 5% under (and this was recent), that doesn't mean I won't move on my asking price - I am prepared to negotiate, but I have done my research too

paul97_2

1st viewing today, here's hoping

ocalllo

tawse57 wrote: »

Have you told your EA that you are emmigrating? Do you tell the people who come and view?

To be blunt, if you know someone is emmigrating then you know that they have a deadline some point in the future when they must sell so, as a buyer, you just sit back and wait for the asking price to drop.. and drop... and drop.

If I were you I would make sure I told none of the viewers that I was emmigrating and I would either change EAs or mention to the current one that the emmigration is now off - say the job offer has been cancelled or something like that.

Perhaps this will give you more luck?

Out of interest, where are you emmigrating to and for what reasons? Work, quality of life? Fed up with the UK? I am curious as to where and why Brits emmigrate as I am considering it myself.

hi tawse57
nobody is told we are emmigrating.....we don't have a deadline at all but we keen to get going now we have made the decision.
Won't be lowering the price again for sure....will rent short term but also have family member looking to buy as investment but not till they sell another property.
so not totally desperate to sell - do have a plan b and c.....

we are off to OZ mainly for quality of live/standard of living and of course the SUN :cool2:. we love travelling and before i met my hubby we had both travelled around the world and both had ambition to move to OZ....years later we are finally getting the oppertunity.