RICS Say it's close to bottoming

Really2

StevieJ wrote: »

I don't know but last autumn, I remember a particularly raucous bear thread that was celebrating some forecasts.

Never miss an excuse for linking to an old thread, over to you Carol :T

http://forums.moneysavingexpert.com/showthread.html?t=1221673&highlight=halifax+futures

The old bear posts I miss the forcasts and following debates. My old pre-password loss name is there, bless:)

StevieJ

Really2 wrote: »

The old bear posts I miss the forcasts and following debates. My old pre-password loss name is there, bless:)

I have bumped it on the board.

gjchester

Lindy_Loo wrote: »

Hi inspector Monkfish

We're looking in Colchester

FWIW, A friend has just put his house on the market in Harlow.

They had 5 EA's round all valued around the £200k to get £190k, with one saying £210k to get £200k. (they went with a £197K one as there fee's were the cheapest)

Took a week for the HIP to be in place, and the following weekend they had two viewings. The second offered the full asking price £197k without even trying to haggle.

Now either desperation is setting in with buyers offering full asking price off the bat, EA's are getting realistic with their pricing, Mates house is an immaculate bargain (it's not it's nice but not immaculate!), or there optimism and money coming back in to the market. Sure it could fall through, or the buyer can't raise a mortgage, but to sell in 2 weeks seems very fast in this climate.

Lindy_Loo_3

We offered 5% under asking price on a property last Friday; got rejected within a couple of hours. We were asked to meet closer to the asking price. I said that I'd need to think about it overnight as a house literally round the corner sold for 15% under asking price (same price obv.) only last month. The very next day, before we could put in our revised offer, someone offered the full asking price and it was withdrawn from the market. That was within 24 hours of it having the sign put up.

Just goes to show that the "credit crunch" isn't affecting some areas as badly as the general news makes out. House prices in Colchester have been holding quite steady throughout this period.

Most EA do price realistically and that might explain why there's a high turnover of properties down there.

Still gonna wait it out, maybe luck will favour us and the buyer won't be able to proceed

ad9898_3

Really2 wrote: »

So what was the average fixed rate when base rate was around 5%?

By the time we have recoverd rates will be far closer to BOE base than they are now.

I doubt this, if the BoE raised the base rate by 2% next month, I bet you a tenner more or less every bank will raise their borrowing rates by the same amount.

chucky

ad9898 wrote: »

I doubt this, if the BoE raised the base rate by 2% next month, I bet you a tenner more or less every bank will raise their borrowing rates by the same amount.

i don't think you're wrong but would say that would depend if there government owned and need to pay back bail out money - they need extra revenue

mewbie_2

I won't bother adding my tuppence worth, you know what I'd say anyway, so I'll just say hello.

carolt

Lindy_Loo wrote: »

We offered 5% under asking price on a property last Friday; got rejected within a couple of hours. We were asked to meet closer to the asking price. I said that I'd need to think about it overnight as a house literally round the corner sold for 15% under asking price (same price obv.) only last month. The very next day, before we could put in our revised offer, someone offered the full asking price and it was withdrawn from the market. That was within 24 hours of it having the sign put up.

Just goes to show that the "credit crunch" isn't affecting some areas as badly as the general news makes out. House prices in Colchester have been holding quite steady throughout this period.

Most EA do price realistically and that might explain why there's a high turnover of properties down there.

Still gonna wait it out, maybe luck will favour us and the buyer won't be able to proceed

How do you know someone offered the full asking price?

Presumably no sold prices data yet. :rolleyes:

I'd be wary of what EA's tell you - I know of many cases where EA's lied to us about how much properties went under offer/sold for - in 1 case, we knew the people buying it, so knew they were talking porkies; in others, the timely arrival of sold price websites gave the lie to lots of 'facts' the Ea's had told us.

Some EA's are not above 'embellishing' the truth in an effort to sell property.

Shocking, I know.

carolt

mewbie wrote: »

I won't bother adding my tuppence worth, you know what I'd say anyway, so I'll just say hello.

Yes, I feel like that too.

Hello mewbie.



PS Been busy for a while.

Came back last night to discover whole board disappeared.

Where'd it go?

mewbie_2

carolt wrote: »

Came back last night to discover whole board disappeared.

Where'd it go?

There's a closed sticky thread at the top of the page from Martin which gives some idea as to how hacked off he is. And then a general ramble and free for all from us lot which will have done nothing to enhance his mood. Mind you - I don't know what he really expects anyway - 3 posts a day with links to property supplements and Tesco coupons maybe?

Anyway as part of all this the board is 'members only' - ie. you have to be logged in to see it. Which has spoilt my lurking a bit.

You also missed me doing the strident bear thing for a day or so, and I have to say I found it very hard work.