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Is it just me?
CoasterJunkie
Posts: 4 Newbie
Hi all,
I have been monitoring the housing market for some time now and there seems to be a trend developing.
I have noticed that a lot of the houses I have been watching have dropped in price by at least 10% in the last few months. (My quest is for a 3-Bed Semi).
This could be that said properties were over-priced to begin with? Seasonal variation? Desperate sellers (do they know something we don't?).
Don't get me wrong - I am monitoring only a tiny part of the market but this does give me confidence to go in at 10 to 20% below advertised price.
Now, if all of us first time buyers were to do the same would this speed up the long-promised re-adjustment?
I don't know about you but some of the houses I have been to see have been absolutely laughable in terms of what they expect us to pay. People seem to be so confident in getting what they want that they don't even bother to tidy up for a viewing. They must think we are mugs!
I also can understand the lack of value for money at the lower end of the market. For say £500K you get a massive house, at least 4 bedrooms and acres of land but for £250K you get a much smaller house on an estate on a postage stamp of land with a third bedroom you can't get a babies cot in! (Obviously areas vary). Half the price = quarter the value!
So whats going on?
Has anyone else had any success putting in a low offer? Who has the best EA price to purchase price margin on this forum?
Lets hope 2007 brings some sense to the housing market - however I won't be holding my breath!
Happy New Year :j
I have been monitoring the housing market for some time now and there seems to be a trend developing.
I have noticed that a lot of the houses I have been watching have dropped in price by at least 10% in the last few months. (My quest is for a 3-Bed Semi).
This could be that said properties were over-priced to begin with? Seasonal variation? Desperate sellers (do they know something we don't?).
Don't get me wrong - I am monitoring only a tiny part of the market but this does give me confidence to go in at 10 to 20% below advertised price.
Now, if all of us first time buyers were to do the same would this speed up the long-promised re-adjustment?
I don't know about you but some of the houses I have been to see have been absolutely laughable in terms of what they expect us to pay. People seem to be so confident in getting what they want that they don't even bother to tidy up for a viewing. They must think we are mugs!
I also can understand the lack of value for money at the lower end of the market. For say £500K you get a massive house, at least 4 bedrooms and acres of land but for £250K you get a much smaller house on an estate on a postage stamp of land with a third bedroom you can't get a babies cot in! (Obviously areas vary). Half the price = quarter the value!
So whats going on?
Has anyone else had any success putting in a low offer? Who has the best EA price to purchase price margin on this forum?
Lets hope 2007 brings some sense to the housing market - however I won't be holding my breath!
Happy New Year :j
0
Comments
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If you've got that little confidence in the current housing market why dont you just rent until the correction you think will happen then buy? 0
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however I won't be holding my breath!
I know people who have been holding their breath for about 4 years now, very blue in the face:eek:
Ask a board guide to merge this thread with all the other 'house price crash' speculators.Well life is harsh, hug me don't reject me.0 -
thesaint wrote:I know people who have been holding their breath for about 4 years now, very blue in the face:eek:
Ask a board guide to merge this thread with all the other 'house price crash' speculators.
must admit these were my thoughts also 0 -
thesaint wrote:I know people who have been holding their breath for about 4 years now, very blue in the face:eek:
Ask a board guide to merge this thread with all the other 'house price crash' speculators.
must admit these were my thoughts also 0
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