A recession success story...

lostinrates

IveSeenTheLight wrote: »

Well put yourself in the sellers shoes.
You receive an (under price) offer from: -

a) A couple who were very enthusistic and keep going on about how wonderful a house it is, how perfect it would be, what they can see themselves doing once they move in

or

b) A couple who keep their thoughts to themselves, be polite, maybe say they have a nice house but they have others to view.

For a) you might reject the under price offer thinking they were so keen they will come back with a better offer

For b) You might be less likely to reject as they could go elsewhere.

It all depends on how many offers received or if the property is going to closing, but it's never a good option to show your cards before you play them

If I were a vendor, unless best and final were mentioned I would probably tentatively try to raise the offer anyway, unless advised otherwise, assuming the quiet ones were quiet, I think, doing just this quiet thing. I don't know though, til being in that situation I suppose. (FWIW, I think of myself as enthusiastiv when I like something, but your description makes me think maybe I'm more reserved thn I think when I like something)

damanpunk

Whatever you do stay away from Stewart Milne Kepplestone!

HAMISH_MCTAVISH

mitchaa wrote: »

ISTL...2.5m is nothing from a school catchment area, I think i was around that to my secondary school and there's not a hope in hell i'd be able to afford anything on the Queens Rd, but i do get your point. I had a quick drive around the Hilton area last night and around the homes that i highligthed and although the streets they are situated on are very nice, the area itself as you say is well not as nice as Westhill, but then again it's no Mastrick either :rotfl:Additionally as i said previously, the ROS table you posted shows around a 20% rise in the time ive had my property, i was a little under that so not over performed as you have stated.
.

There is a report out there somewhere showing price rises by neighbourhood in Aberdeen over the last 25 years. If I can find it,, I'll share it with you.

Hilton was the best performing of the "middle market" areas, ie, excluding the West End super-expensive stuff, and least prone to price falls in Oil slumps.

The nice parts of Hilton are properly nice, Clifton Road and the roads off it heading towards Anderson Drive (at the city end) have some amazing houses, and the semi's in the middle are nice too. And the location is very convenient.....

mitchaa

ISTL....I suppose when you're putting in a great whack of your own money into the pot you will always act more on the cautious side. 1st time round, £7k into it, this time round, obviously quite a bit more.

Ive always stated that Aberdeen would remain relatively unscathed through all of this and i do still believe that. As initially posted, i think the market up here will stagnate for a while now so if I follow that path, it shouldn't matter if I buy now or in a years time. (Bar obviously the inconvenience for family). We are greatful for the inheritance money and obviously want to put it to good use, my concern I suppose are just the niggles in the back of the mind and with the figures involved.

I need to stop the waffling now. It's as if i've got a say in the matter anyway, it's her inheritance, she owns half the house, half the equity etc, She'll do what she bloody wants, I'm just simply there to help her pay the bills, nod, wink and say yes:laugh:

Got 3 viewings tomorrow, 1 in Cove, 1 in Hilton, and the other in Westhill. Will have to do some swatting this afternoon. Hoping to at least knock 5% off any asking price, will wait and see.

System

IveSeenTheLight wrote: »

Well put yourself in the sellers shoes.
You receive an (under price) offer from: -

a) A couple who were very enthusistic and keep going on about how wonderful a house it is, how perfect it would be, what they can see themselves doing once they move in

or

b) A couple who keep their thoughts to themselves, be polite, maybe say they have a nice house but they have others to view.

For a) you might reject the under price offer thinking they were so keen they will come back with a better offer

For b) You might be less likely to reject as they could go elsewhere.

It all depends on how many offers received or if the property is going to closing, but it's never a good option to show your cards before you play them

T'is true. I told my missus that when we went to look at our place and ended up walking round it like cheshire cats saying how much we loved it Still got 5k off the asking though.

IveSeenTheLight

mitchaa wrote: »

As initially posted, my own beliefs are that the market up here will stagnate for a while now so if i follow that path, it shouldn't matter if I bought now or in a years time i suppose

Of course it will be up to you and your family decisions, with a couple of small kids, I'd be more inclined to put down my roots earlier rather than waiting another year, especially if you don't foresee falls.

It's personal choice, but I would not want to pay rent for a year in a non declining market. That for me is wasted money (unless you need to rent for some reason).

It is also important you find the right place, one that will suit you and your family for the years to come

I wish you all the best my friend.

carolt

mitchaa wrote: »

Carol, the reason for considering rental is simple. Aberdeen has been left relatively untouched so far. Although we consider the peak of the market nationally as Q3 2007, it was indeed Q3 2008 before Aberdeen and its shire peaked. What does this mean? I have been studying the market closely and there are a lot of overpriced homes on the ASPC website (IMO anyway, ex council £230k for example) and there are some that i can remember from a long while back, I believe around xmas last year that have still not sold.

All the talk of a 2nd wave, not just by you guys but in the media too has knocked the confidence a little too. Has Aberdeen survived, or is it yet to fall? i.e It was a year later peaking than everywhere else, so are we a year behind with the falls? Aberdeen is not immune, my industry is not immune, we had 60-70 flights a day to offshore platforms this time last year, we have around half that now so things are scaling back, obviously not just for us guys throwing the Aircraft out, but for those flying to the oil platforms too. A few guys have recently retired and not been replaced and they are even on about breaking our paydeal next year for a freeze (Shock horror:shocked:) However, no lay offs so to speak and we've been assured by senior management that all of our jobs are safe and there are a couple of big contracts heading our way that should definitely pick things up a little. (1 a 25yr Search and rescue contract worth money in the billions)

I had a different opinion 6mths ago.

So is Aberdeen going to be left untouched or is it simply lagging behind? Who knows, there's still obviously a lot of money going round but its definitely not as it was this time last year. (Just like the financial industry of London, bankers bonuses etc)

Although im not in it for the money, i'd hate to buy a house now for £400k, and learn with hindsight later on that i could have bought it for £325-£350k in Summer 2010.

ISTL...2.5m is nothing from a school catchment area, I think i was around that to my secondary school and there's not a hope in hell i'd be able to afford anything on the Queens Rd, but i do get your point. I had a quick drive around the Hilton area last night and around the homes that i highligthed and although the streets they are situated on are very nice, the area itself as you say is well not as nice as Westhill, but then again it's no Mastrick either :rotfl:Additionally as i said previously, the ROS table you posted shows around a 20% rise in the time ive had my property, i was a little under that so not over performed as you have stated.

We have a couple of viewings booked in for tomorrow, the wife is all for rebuying, I think i just need a shake and some bull blood re-injected back into me. I should trust my initial instincts and stop the worrying.

How funny. You've been laughing at us for months telling us that prices were not going to fall, and that we should all buy anyway, and yet, the second you sell, you immediately claim that actually now is the time to be bearish!

Do at least have the courage of your previous convictions!

Whilst it's flattering to read you think we were right all along, it'd be nice if you could have had the courage to admit it even if it didn't suit you.

When we previously said we didn't want to buy somewhere for say 300K, if we felt we would be able tobuy the same place for 230K a year down the line (our budget being maller than yours!), you joined the long line of bulls to scoff. Actually, I think your current stance makes perfect sense - if you are bothered about the money (which you do kind of admit you are here - and why shouldn't you be? - it's a lot of money), then waiting may make sense. Then again, it may not - you've just inherited an extra 100K and your wife feels strongly that she wants to buy.

In fact, if I were you, I would buy, for those 2 reasons.

Good luck with your decision.

mitchaa

carolt wrote: »

How funny. You've been laughing at us for months telling us that prices were not going to fall, and that we should all buy anyway, and yet, the second you sell, you immediately claim that actually now is the time to be bearish!

Do at least have the courage of your previous convictions!

Whilst it's flattering to read you think we were right all along, it'd be nice if you could have had the courage to admit it even if it didn't suit you.

Misinterpreted the content of my post I think Carol

I metioned the fact i had a couple of niggles in the back of my mind but clearly stated that I believed Aberdeen would remain relatively unscathed with a prediction of a long period of stagnation.

I was correct in the fact that I didn't believe the crash would be anywhere near as dramatic as what you bears were stating. I think it was around 22% down at its worst, I predicted 20-25% down if you were to trawl back through all the historical stuff.

Bear thoughts were at least double this figure. You are correct though I have been acting a little more bearish mainly due to the fact that i'd hate to see the inheritance money being wasted. I just need a good shaking and i'll be back to myself again in no time

Thrugelmir

mitchaa wrote: »

I was correct in the fact that I didn't believe the crash would be anywhere near as dramatic as what you bears were stating. I think it was around 22% down at its worst, I predicted 20-25% down if you were to trawl back through all the historical stuff.

I would call a 22% fall significant enough. Bears merely feel that the market is overpriced and overvalued on a macro level. Within any market there are sub markets which are moving independently They are not predicting catastrophic falls as you suggest. If you think prices will stagnate for a long period then that will mean a fall in real terms.

Has Aberdeen seen its heyday? Whilst still sizable North Sea Oil and Gas production has peaked and is now in decline. A lot of towns expanded and grew over the centuries due to industrial change. Only at a later date to decline as the industry which was there was no longer.

I mention that as maybe one day you may decid to move on. So do you want the majority of your wealth related to one asset.

dopester

mitchaa wrote: »

we have around half that now so things are scaling back, obviously not just for us guys throwing the Aircraft out, but for those flying to the oil platforms too. A few guys have recently retired and not been replaced and they are even on about breaking our paydeal next year for a freeze (Shock horror:shocked:) However, no lay offs so to speak and we've been assured by senior management that all of our jobs are safe and there are a couple of big contracts heading our way that should definitely pick things up a little. (1 a 25yr Search and rescue contract worth money in the billions)

Do you remember the discussions we had way back (can't find the posts atm) about you never accepting a pay-cut?

About how if you were asked to take a pay-cut you would refuse, and how you'd always walk into another job paying more? (That could have been just to wind-me-up.)

My thoughts on how most pay-deals can be broken/restructured if the alternative is worse pain for the company and the employees?

Not having a dig at you Mitchaa, and whilst you've had some slowdown at least you're being kept informed and have some positives on the horizon - but I'm sure you agree that things are a lot more uncertain now for many people who did not expect their special areas of employment would not be affected.

I suspect you were actually more switched-on to some of the difficulties facing the economy/house prices/ Aberdeen than you have admitted before.