To those BUYING in these difficult times....

Grimbal

shupufski wrote: »

Liked the house but laughed at the optimism of the vendor. Offered 90% of asking and basically told to f** off!

ditto!! :mad:

starjumper

shupufski wrote: »

I'll join too.

Looking to buy in South Manchester having moved up from London a couple of years ago - been renting since.

Saw a house in July, 3 bedrooms, on for the same price as next door went on the market for in March. Trouble is, the one next door had 4 bedrooms and a downstairs loo!

Liked the house but laughed at the optimism of the vendor. Offered 90% of asking and basically told to f** off!

I have no house to sell and will need a mortgage for roughly 30% of the purchase price.

Trouble with many vendors is that they believe their own valuation. Even the EA agrees with me and has slagged the vendor off as being ridiculous!

OMG I'm in South Manchester and it is so hard to get vendors to budge on the price. Yeah so Didsbury is nice but the houses arn't THAT great.

shupufski_2

starjumper wrote: »

OMG I'm in South Manchester and it is so hard to get vendors to budge on the price. Yeah so Didsbury is nice but the houses arn't THAT great.

Amen!

Didsbury has got to be as delusional as Hale when it comes to house prices! Vendors seem to think that they are impervious.

Horizon81

Just keep offering what you think is a fair price. I agree many vendors are completely delusional. If they genuinely want/have to sell then they'll have to accept sooner or later.

beccad

We're missing out on properties too that appear to come on the market as SSTC. We're constantly being chased by agents too, so I don't know how we're missing them?! Perhaps it's all just a con to get us to look at their other properties? They put up a carrot property (and they're all really lovely, exactly what we're looking for etc.) and then they go SSTC and the agent produces a whole pile of crap.

dkmax_2

shupufski wrote: »

Liked the house but laughed at the optimism of the vendor. Offered 90% of asking and basically told to f** off!

All it takes is for one muppet to pay the full, EA inflated asking price (and for a mortgage valuer to agree) to persuade the surrounding vendors to stick to their guns. No amount of contrary economic news will shake their confidence when they hear Mrs Miggins down the road got the full asking price in the past couple of months.

shupufski_2

dkmax wrote: »

All it takes is for one muppet to pay the full, EA inflated asking price (and for a mortgage valuer to agree) to persuade the surrounding vendors to stick to their guns. No amount of contrary economic news will shake their confidence when they hear Mrs Miggins down the road got the full asking price in the past couple of months.

Agreed, and sadly there is a reasonable supply of muppets.

jw2003

sinbad182 wrote: »

It was enough for me, others I know like me.

Its not a case of mortgages are harder to get for suitable buyers, its just harder for banks to give foolhardy loans to unsuitable buyers.

We have a 30% deposit, are only looking at 1.5x income so affordability isn't an issue. It's a single application (in his name) and he has one loan repayment left on a loan (repaid on Monday) and one cc within its limit and met each month. He is self employed though so I don't know if that is holding things up

Blodwen

shupufski wrote: »

Agreed, and sadly there is a reasonable supply of muppets.

Really? Send 'em my way, I'd happily allow one of them to pay asking price :rotfl:

(ok, I'll slink back to the seller's support thread now )

tawse57

I think this thread is needed.

I am trying to buy but the asking prices are just ludicrous where I am. People are wanting 100K up to 200K more than they paid just 3 years or so ago during the height of the bubble.

I am told that at least 3 EAs are allegedly involved in a war to try and dominate the local market by basically putting ludicrous valuations on houses and I am seeing many houses just sit on the market for months on end. The problem is that the initial valuations were so ludicrous IMPO that they need to drop prices by 30% just to get to realistic.

I am beginning to look at working overseas now and am weighing up the pros and cons of making a life elsewhere. I am not prepared to give my hard worked for money and inheritance to greedy sellers and EAs.