Offering low on already reduced house

WelshNic

I don't think market is dead though :rotfl:

Will be very interesting to see the figures from March but I'm continuing to see plenty of sold signs going up in the areas I've been looking at.

As Benjamin Franklin once said, "He that waits upon fortune, is never sure of a dinner"

geoffky

The market is dead on its feet.. first time buyers are the backbone of the housing market and they are not playing but waiting on the sidelines.

look at the posts from people with a few views in months and months..and the mortgage figures

doire_2

neas wrote: »

doire is waiting for that perfect moment.. thats all. You will only know the perfect moment after the event has happened.

But doire is willing to keep renting after 4 years of waiting so far.... after 4 years renting i had had enough.

And i'll get it. Im not worried about that. Down 40% so far

But....buying when IR can only go up, the economy isnt doing too well (take a look at the last growth figures), unemployment is growing, governemnt cuts kick in from April, banks aren't lending silly money (and wont for a long time)......not for me...so im out

Can you not realise this is one big gamble...each of us play it our own way.....just because you bought at a time that suited you doesn't mean i have to. We both live in different areas, both with different jobs, prospetcs etc.

Doozergirl

geoffky wrote: »

The market is dead on its feet.. first time buyers are the backbone of the housing market and they are not playing but waiting on the sidelines.

look at the posts from people with a few views in months and months..and the mortgage figures

There's pretty small number of houses on the market. It has been a very quiet winter and whilst the property market is much smaller than it was, the SSTC signs have been going up where I am too over the last couple of weeks. The ones I've been watching for some months are being snapped up.

It's definitely not dead. And no viewings in a few months - we all know what the problem is there. That's not the price of the market, it's the price of one house.

Hazz

Doozergirl wrote: »

What if they'd have accepted less?!

Our sellers rejected 129K from someone else as the buyer was in a chain and couldn't move in straight away so I think we'd have been pushing our luck if we'd gone much lower than 126K, yes maybe we could have got another 1K or 2K off but I doubt they'd have gone any lower than 125K. We're quite happy with the deal we got anyway.

roboticpink wrote: »

sent another offer through today - estate agent got back straight away to say the house has sold in the last two days!

It's been on since JULY, it hardly seems possible that they have sold it in the last two days and I'm pretty upset she didn't think to tell us someone else had offered on it or was even interested.

Gutted.

Sorry to hear that, same thing happened with our first choice place. There were no offers for 7/8 months then the same week we offered someone else viewed it in the meantime and pipped us to the post! :mad:

WelshNic

geoffky wrote: »

The market is dead on its feet.. first time buyers are the backbone of the housing market and they are not playing but waiting on the sidelines.

look at the posts from people with a few views in months and months..and the mortgage figures

Well we'll just have to see won't we?

http://www.aboutproperty.co.uk/uk-property/2011/03/03/housing-demand-up

The_Drama_Llama

That article still fails to recognise one simple fact: every chain has to start with a ftb (or btl investor). The investors certainly aren't buying as much as they were, and ftbs are unable to get the mortgages they need.

I could hardly believe my ears today when an EA told me that the house he was showing me was 'perfect for a ftb'...it's £300k!! When I pointed out that you'd need a £60k deposit and £80k pa salary to be able to afford it he just looked confused. I'm being overly optimistic thinking his stupidity was a one off, aren't I?

sunshinetours

geoffky wrote: »

i would love most of you lot to be my buyers..i would run rings round you with your negotiation skills. 7% off a house in these times is a pittance..we bought last year and got over 30% off and not a new build. in a dead market you will probably be the only player around and the first viewer for months and months,use that to your advantage and always be prepared to walk away and wait.

A post full of useless generalisations I am afraid. Congratulations on your own "bargain" but not indicative of the general market. If a house is priced right you are not going to get 30% off

Any decent house priced at the right sort of level will sell in any market. Biggest problem as you do correctly point out elsewhere is the lack of decent first time buyers to start the chains off

As Neas also correctly poionted out in a declining market there is a surplus of dross overpriced houses on the market - something that is very evident in our area

neas

geoffky wrote: »

i would love most of you lot to be my buyers..i would run rings round you with your negotiation skills. 7% off a house in these times is a pittance..we bought last year and got over 30% off and not a new build. in a dead market you will probably be the only player around and the first viewer for months and months,use that to your advantage and always be prepared to walk away and wait.

what does mouseprice.com say about your address then?

try putting in your house. what price was it last bought at?

Mine was 160k in 2004 and bought it for 163k in 2010. next door neighbour in 2011 sold hers for 2011 which is slightly worse than ours.

I think i got a good bargain... my 7% was off a significantly reduced price. If i took her initial price of 195k i got 16% off.. does it make a difference? Not really . I know from the stats i got a good deal,

Most likely your house was significantly overpriced to start with, unless you can track what they paid for it or another similar house was bought for more i say you paid what it was worth just as i did .

All i know is mortgage is 3.2x my salary, my wife works as well and we are plowing money into it so after 5 years we aim to have it at around 1.5xmy current salary.

daisymay2008

well, we viewed the house last night priced at £169500 (reduced from £185000 in only two months) and i'll be offering 152k maybe 153k as first offer....

they have relocated and in my opinion this coupled with the fact they have reduced the price twice in a couple of months smacks of desperation to sell (maybe)

so who knows we'll see!