It's suddenly dawned on me!!!

Jewel_2

No one is buying houses because valuers are playing God! The buyer wants to buy, the seller wants to sell, the valuer decides to ruin everyone's life and pluck a figure from our of the blue as to how much your house is worth, which apparently 10% less than what you sold it for

Really2

Sorry, you would have got thanked 20 times for that one last year.

But to humour you, I don't think valuations are as much of a problem as they were 6,12,18 months ago.

Jewel_2

It's a problem to me now, lol, I did bet that the valuers who did the structural survey on our house (that we are selling) would come back with 10% less - and that's just what they have done. Based on the fact, they say, that there wasn't much to compare it against so they had to choose what they thought may be similar

So, as we cannot afford to sell at the ridiculous valuation (I'm not precious, just think it's ridiculous), we're probably going to have to stay put (which is fine) and break the hearts of the rest of the people in the chain.

Just about to complain to the RICS as I can't, for the life of me, see what they've valued against, as all the houses are individual. I feel sorry for our buyers, whose mortgage is based on the valuation, and this is the second time it's happened to them, at a few hundred quid a valuation.

pelirocco

Arent houses selling? , they seem to be here

prowla

Jewel wrote: »

No one is buying houses because valuers are playing God! The buyer wants to buy, the seller wants to sell, the valuer decides to ruin everyone's life and pluck a figure from our of the blue as to how much your house is worth, which apparently 10% less than what you sold it for

I guess you mean than you bought it for?
But the problem was that you bought it for 50% more than it was worth...

Jewel_2

In our area, there's hardly anything on the market. There is nothing for people to buy, as the sellers won't reduce their houses, and I don't blame them. Perhaps they will start to pick up ... I certainly don't think it's a buyers market as people cannot afford to sell. That's here anyway.

the_ash_and_the_oak

no one is buying houses because there is insufficient demand (tho there is certainly sufficient desire)

Jewel_2

the_ash_and_the_oak wrote: »

no one is buying houses because there is insufficient demand (tho there is certainly sufficient desire)

Apparently not in our area. Everyone is taking their houses off the market locally (I live in a village commutable to London). There is nothing to buy.

the_ash_and_the_oak

Jewel wrote: »

Apparently not in our area. Everyone is taking their houses off the market locally (I live in a village commutable to London). There is nothing to buy.

and that is of course the other reason.

nothing to buy and no credit to buy it with. and no one to sell to. hope everyone likes where they live right now

StevieJ

Jewel wrote: »

No one is buying houses because valuers are playing God! The buyer wants to buy, the seller wants to sell, the valuer decides to ruin everyone's life and pluck a figure from our of the blue as to how much your house is worth, which apparently 10% less than what you sold it for

It appears the supply and demand mechanism has broken down.

PasturesNew

RICS have always been the only people "qualified" to value a house. Not an EA, not a seller, not a buyer... only a RICS person.

Yet you are deluded enough to question them. You are part of the problem, you still believe the hype.