Some friends of mine desperately need to sell

1984ReturnsForReal_2

Who knows?


Maybe they should take the whole deal into account which part of that obviously would be where they are moving to & how much that costs.

Jowo_2

philc_31 wrote: »

Sellers are often unrealistic.

Indeed, there was a recent thread on Mary Portas' investigation into customer service by estate agents and during her TV programme, the estate agents seemed unable to shift a 2 bedroom flat which was blamed on their poor sales skills.

But members of this forum identified the property that is on sale for £495k and identified another in the same street that had a proper garden, too, which remained unsold after 4 months despite being 70k less in price! Who would pay somewhere in the region of nearly 20% more for an inferior property?

So maybe the OPs friends are fantasising about what their property is 'worth', thinking that perhaps if theirs has had a recent lick of paint and a few nice plants added to the garden, its magically worth 10 or 15% more than their neighours property.

Wookster

Agreed - that isn't desperate.

As rates start to rise there will be increasing numbers of desperate mortgage holders who are finding there is a different economic reality than when they took out their mortgages.

julieq

Wookster wrote: »

Agreed - that isn't desperate.

As rates start to rise there will be increasing numbers of desperate mortgage holders who are finding there is a different economic reality than when they took out their mortgages.

Really?

How so?

Most people's mortgages were taken when mortgage rates were far higher than now.

A very few people hit lucky and have a low tracker.

But the fashion pre peak was to fix for fairly long term at fairly high rates.

Mortgage rates currently essentially ignore base rates so pretty much no-one who bought post crash is getting a low rate.

I can see that if you're a bear, pretty much your last hope is that millions of people will be unable to cope with an increase in base rates to the giddy heights, of, let's say 1.5%, but it defies all financial logic. Obviously if rates "soar" back to historically low levels, that would imply an extremely strong recovery in earnings, without which inflation can't be sustained.

Sibley

Bumped into a couple I know that I hadn't seen for a while in town. They're expecting their first child in about four months.

They have a small two up, two down and really need some more room. The house has been on the market for a few months and they keep getting offers from people that are "taking the !!!!" (around 15% lower than the asking price).

Desperate as they are they decided to take the place off the market rather than sell it cut price and let someone else get a cheap deal at their expense.

Their situation is good not desperate. Their house is big enough, they both work and live within their means.

They want top whack for their house. No problem with that. Up to them. They are choosing to stay put until the market improves. No point selling at 15% off then finding what you want to buy hasn't dropped a penny.

This is the reason there will never be a house price crash. People have choice.

Buyers can either pay the right money for something decent or settle for a property less des res. If there were really loads of bargains about I doubt the bears would be spending so much time on here. Surely they would be out viewing. :rotfl:

doire_2

Blacklight wrote: »

Anecdotes... I don't usually, but this seems a true reflection of what's going on out there:

Bumped into a couple I know that I hadn't seen for a while in town. They're expecting their first child in about four months.

They have a small two up, two down and really need some more room. The house has been on the market for a few months and they keep getting offers from people that are "taking the !!!!" (around 15% lower than the asking price).

Desperate as they are they decided to take the place off the market rather than sell it cut price and let someone else get a cheap deal at their expense.

You just made this up, didn't you?

And if you didn't then please explain to me how "this is a true reflection of whats going on out there"?

Ohh by the way....i bumped into two friends i had not seen in years. Pete and Maggie. They have a large house. Children all grown up and moved out. Their house was on the market for 2 years at a high price. Not one viewing. Reduced it by 20% and it sold after a week. They are well chuffed and can now move into a smaller house as Maggie can cope with the housework better.

nearlynew

PEAK PRICE IS THE RIGHT PRICE


I will not accept anything less.

twirlypinky

Jowo wrote: »

I must admit by being baffled by the number of posts I see on MSE where the household say their property is too small.

Today I've seen posts about a couple in a 1 bedroom flat who say they need a house, and this one about a husband and wife with 1 child who say their 2 bedroom house is too small.

They seem the right size to me, as long as they've got some control on the amount of personal belongings in the property?

How big is your house Jowo?

I moved into my boyfriends 1 bed "house" last year and i can assure you, it's too small for two people. I'm having to keep most of my belongings at a relatives house because i don't have room, and i don't have that much stuff. The bedroom isn't big enough to have much furniture in, so my wardrobe is in the hallway, and we've only got a four foot bed. We don't have a bathroom, it's a shower room. The kitchenette has a two ring hob and a silly little round sink with no drainer and no plumbing for a dishwasher. The sitting area (which is also the dining area and kitchenette) has only room for a two seater sofa, so if people visit us we have to sit on the floor. The bike shed is communal and is freaquently robbed, so we also have a bicycle in the sitting area. There is only parking for one car, so i have to park mine some distance away and walk.

Some one bedroom homes are NOT big enough for two people.

Jowo_2

lisyloo wrote: »

...People ion war torn countries who have to walk miles for water are desperate, so let's get it into perspective.

Yes, maybe the absolute and relative poverty concepts have their match in absolute lack of space and relative lack of space when it comes to people saying their home is physically too small for their household size.

In Japan, it is not unusual for a family to be brought up in the size of a flat that a couple in the UK would dismiss as too small for their needs and 70% of adult children under the age of 34 still live with their parents.

But because in the UK we don't have those kind of population density pressures, we don't have a culture of making best use of our available space, it is alien to us. So we aren't so good at being flexible with it, keeping our belongings and furniture minimal.

Unsurprisingly, we have completely different expectations of space and comfort compared to the Japanese.

Graham_Devon

Blacklight wrote: »

Anecdotes... I don't usually, but this seems a true reflection of what's going on out there:

Bumped into a couple I know that I hadn't seen for a while in town. They're expecting their first child in about four months.

They have a small two up, two down and really need some more room. The house has been on the market for a few months and they keep getting offers from people that are "taking the !!!!" (around 15% lower than the asking price).

Desperate as they are they decided to take the place off the market rather than sell it cut price and let someone else get a cheap deal at their expense.

Considering that's the only offers they can get, after a few months, thats what the house is worth.

Crying over it and doing themselves the injustice of sitting in a home they are not neccesarily happy in, isn't going to increase the value, neither is it going to persuade anyone else to pay their thoughts on what it's worth.

Overall, they haven't really achieved anything. Just got annoyed that the house isn't worth what they think it should be, pulled it off the market in protest, and put themselves in a position where they don't move on.

I suppose I should be congratulating this foresight?