to those buying in these difficult times! AKA buyers support network

PottyHouse_2

Based in Staffordshire - as an avid watcher of Rightmove (at least twice a day !!! sad I know) I have noticed more properties coming onto the market, and I must say, at all sorts of prices - I think some EA are not really sure what the market is doing now at the beginning of the year!!!

We have been on the market for nearly a year with 2 broken chains and now there are two fab properties on the road we like just within our reach !! There was nothing last year - either not suitable or priced too high.

Lets hope 2010 is the year we do it !!!!!

Purpletopaz

Hi Surreybased,

Shame on her not accepting your offer, but then hopefully you will like the one on the road/area you really like!

Here in south east kent I have not noticed new properties as yet, the better ones are snapped up straight away, and on property bee its showning properties that have been up for sale much longer, I have kept looking even though we have now had the survey done on the property we are buying, nothing has grabbed my attention, and TBH although registered with 4 estate agents non have called to say they have properties, and we are flexible in what we want.

Some of the properties which have been on for overa year, have dropped by a couple of thousand, but nothing significant!

Pottyhouse good luck selling!

PottyHouse_2

surreybased wrote: »

Hi,

Our update: Had our offer turned down by vendor, they also turned down a 5k higher offer from someone else - seems the elderly lady is being instructed by her son to hold out for asking price. Shame but we wont go above our offer as it's our maximum. We saw another house on friday - wasn't for us but it seems the vendors also turned down an offer a while ago and are now bitterly regretting it as all other others have been much lower. When I was selling I did go for a fair offer, rather than full asking as I feel it's worth getting a sale from buyers who are proceedable.

Definitely loads more coming on to the market however - we called around a few EAs on friday - and most have taken new instructions or are just waiting for the details. One is potentially on a road we really want so that could be lucky.

What are others seeing in their local markets?

ps there is a house that's been on sale for nearly 2 years, price is silly but they haven't changed the price at all. Can't imagine what it would be like to try and sell for 2 years!!

Yes, it makes me wonder when you see properties that have been on the market for a long time without dropping the price .... 2 years!! do they really want to sell!!!!????

My gosh, the market has moved on so much in 2 years and I think they are kidding themselves if they are holding out to get the figure they want - we had similar situation, lady bought 3 bed semi 5 years ago £163k, has spent lots and lots doing it up, fitted bedroom furniture about £5k, fantastic conservatory £20k, fitted blinds etc etc "I'm leaving all those" (even if they're not wanted !!!) and was looking to get £185k (basically the money she has spent). Completely overpriced but we went to view in May last year, we offered her a fab offer £165k, went up to £168k but she would not budge - January 2010 the price has been dropped to Offers Over £170k, bet if we went back she would bite our hands off - not going to happen now !!!
Would add we were going for house just down the road, exactly same build and that was valued £145k!!!! She would have had heartattack!

Same with Zoopla, you get a "Tempt Me" option for people thinking of selling, people who are not on the market, or even have no idea what the prices are, they completely inflate the price thinking they're miracously going to get an offer I think !!

I would seriously doubt putting in an offer on a house that has been on the market that long without dropping the price or accepting a "reasonable" offer, I would think they were going to mess me around.

PottyHouse_2

purpletopaz wrote: »

Hi Surreybased,

Shame on her not accepting your offer, but then hopefully you will like the one on the road/area you really like!

Here in south east kent I have not noticed new properties as yet, the better ones are snapped up straight away, and on property bee its showning properties that have been up for sale much longer, I have kept looking even though we have now had the survey done on the property we are buying, nothing has grabbed my attention, and TBH although registered with 4 estate agents non have called to say they have properties, and we are flexible in what we want.

Some of the properties which have been on for overa year, have dropped by a couple of thousand, but nothing significant!

Pottyhouse good luck selling!

Thanks PurpleTopaz,
Around here some of the houses have already dropped by £5k, £10k which is good, they want to get moving I think - reasonable prices anyway.

There was one house in much sought after area dropped by £1k and I thought wow and laughed !!

Have noticed a few coming off the market which I think is mad - things are picking up again and they could miss out on serious viewings - not sure whether they've had enough or are changing Agents ??!!

Hope more houses come on for you now - would you believe after not one 100% property for us last year, there are a potential 3 for us at the moment!!!! We are just waiting to get the bottom of our chain complete again or some more viewings on our house, everything crossed !!!

Feel quite positive even though we had a nightmare last year :rotfl:

surreybased

Hi Pottyhouse,

Good luck to you, selling and buying.

One think I notice is that whilst house price indices say house prices are up - most people aren't getting real increases in their house prices. Just a quick look on this board it's full of people saying they bought in 2006 and know they can't get the price they paid for it. The house price increase, reflected in indices, I think is as a result of the low volumes.
Mortgage amounts are constrained. A friend who is in a very wellpaid and high profile job has struggled to get finance for a a family home. The large salary multiples aren't there at good rates.

We viewed a house which had the space we needed, maybe not the lcoation, it was done to the owners taste, gold taps, red carpet - gives you a picture! They wanted maximum price for it as it was 'done up'..but it really wouldn't suit most people. I've always thought that if you spend money on furnishing and fixtures you have to be aware that you're not likely to recoup the cash. It's for your enjoyment - can't guarantee it's anyone else taste.

Off to have my daily fix of rightmove!

PottyHouse_2

Thanks Surreybased

Just to give you idea of prices up here,

3 bed semi with garage averages about £135k up to £165/170k.

3 bed detached around the same! but maximum to around £190k for good area.

Then we get crazy prices like 3 bed semi currently sold £150 then same house few doors down goes on at £175k - different Agent needless to say !!!!

I do think the EAs are struggling at the moment with valuation prices with a few local ones in particular everytime I see one of their new properties I think "too high" and I think its happening a lot more than last year.

Surrey, I would imagine you couldnt get a 2 bed for much less than £200k ????!!!

54druids

Hi all and aplogies before I start - i have not had internet access for some time due to holiday let not having wi fi. Now have limited via my hubbies new i phone. First of all WHOOPIE we have a house. I gave up on the for sale market and hunted the letting market and found a let and offered to buy it. We move in in March but not without conditions. We put our offer in a week before Christmas and the buyer ( a solicitor) was going to pull out if we did not complete missives before Christmas ( which amazingly we did). The buyer has at tenant not due to leave until 1st March but we have to port mortgage by middle of Feb so I have to sort that out also. What is wrong with people today. Is it all linked to people thinking they have the right to do anything they want to do but not to take the reponsibility or the consequence that goes with it?

Astara

Sorry but I have come on here to vent my frustration about my vendor! He has been very slow in doing things and it appears that he, his solicitor and e.a have all lied along the way. To cut a long story short this has been going on since October and we still haven't exchanged yet! Because of the lies and the fact he doesn;t live in the property but has family members living there I asked for a £2000 retention for 24 hours just to make sure the property is empty and they have left what they are supposed to leave and taken all the rubbish! He won't agree to it and would rather lose the sale. It is all very stressful! Hope you are all having less stress.

Purpletopaz

54druids wrote: »

Hi all and aplogies before I start - i have not had internet access for some time due to holiday let not having wi fi. Now have limited via my hubbies new i phone. First of all WHOOPIE we have a house. I gave up on the for sale market and hunted the letting market and found a let and offered to buy it. We move in in March but not without conditions. We put our offer in a week before Christmas and the buyer ( a solicitor) was going to pull out if we did not complete missives before Christmas ( which amazingly we did). The buyer has at tenant not due to leave until 1st March but we have to port mortgage by middle of Feb so I have to sort that out also. What is wrong with people today. Is it all linked to people thinking they have the right to do anything they want to do but not to take the reponsibility or the consequence that goes with it?

:T:T:T

Glad you found somewhere, Not sure on the scottish system But I hope it all goes well for you!!

Purpletopaz

Pottyhouse,

Hope all going well for you too and you can get your chain going!


Our survey came back and said the amount we will pay was a reasonable amount! There are a few minor points, Like redecoration, kitchen refit, ventilation in the roof- heating sysem. etc but nothing to worry us ! We offered with some of the things in mind, but I still think we are getting a good property and I think its worth what we are paying and thats whats important.

So now its in the solicitors hands The vendors are buying an empty property have their mortgage, survey done etc, just waiting for the searches, I have started Packing ! EEK, cleared shed, cellar and loft, too early? I AM being positive, I walk near the house when I take the little one to nursery and I have a big grin on my face!LOL

Still not seeing a flood of properties, One of the estate agents we registered with over 1 month ago called yesterday with a property! Thats 1 out of the 3 we registered with!

Good Luck everyone keep us updated!!