Excellent advice to home-buyers in The Indepenent

chucknorris

ukcarper wrote: »

Detached house in my road £285k in 2007 knock of your 35% gives you £185k. Semi same road sold for £276k may this year.

I think the bears live in a place called 'round my way' it is a very strange place indeed.

Rents and property prices fall by huge margins (some of them sometimes even expect prices to fall by 50% by xmas, and they not not the extreme, some of them have formed a '70% club' (I think they must be the 4 yorkshire men from Mony Python) it must be an awful place to live no wonder they get so bitter at times we should feel sorry for them having to live in a such a place.

chucknorris

Dirk_Rambo wrote: »

im very sorry that youre application to join the 70 percent club was declined. you can re-apply next year but theres no guarntees youll get in

I don't think I'll get in after macaque's landlord upset him, he is tightening up the membership criteria

Sibley

It's fine these people pulling these figures out of the hat.
Does anyone really believe you could buy any house for sale if you offered 35% off the asking price?

Reality check and you know it.

If you made -35% offers on 100 houses today NONE would accept it.

Anyone thinking of selling will not accept 35% less than they want. They will wait and sell their house when the markets better.

ILW

Some of the distressed sale companies seem to be doing it.

Cleaver

Sibley wrote: »

If you made -35% offers on 100 houses today NONE would accept it.

I think some people would. Those who bought new build flats or designer new-build houses in 2007.

mcc100

Sibley wrote: »

If you made -35% offers on 100 houses today NONE would accept it.

35% off the asking price in 2007, not 35% off todays asking price.

FTBFun

Doctor_Gloom wrote: »

I'd knock at least 40% off the peak price to take account of the falls due in the next couple of months.

What, in London? Are you nuts?

Bangkok-Dave

What, in London? Are you nuts?

I think that might be the understatement of 2010 :rotfl:

tyllwyd

* Ignore agents' deliberate vagueness over "with offers in the region of", "guide price" or "offers in excess of". Instead work out what price the property would have reached at the peak of the market in 2007, then subtract 35 per cent.


Why is it easier to come up with some imaginary price from three years ago, then take away 35 per cent, rather than look at what a similar house in your area sold for in the last year and base your price on that?

I tried calculating 35% off the price of the current asking price of our house, and that would mean selling a 4 bedroom detached house for the price of a 3 bedroom terrace. So I tried adding 35% to the asking price, and the figure it came up with was way more than we would have asked even in 2007. If I put in what I think the 2007 figure might have been, I still wouldn't accept an offer equating to 35% off that.

geneer

Rainmaker_uk wrote: »

Wow sorry I was wading through the rather pointless article waiting for some statistics rather than heresay. I missed the throw away comment that will serve to enlighten all home buyers.

Thank goodness for such a well considered and reasearched article - otherwise I could have found myself taking another random number and and subtracting a random percentage.

Whew what a close call

:rotfl::rotfl::rotfl::rotfl:
Talk about a smoke screen eh.
I think we all know the important part of this white wash.