Rightmove offer advice to sellers to avoid being one of the 50% who fail to sell.

geneer

http://www.rightmove.co.uk/sell-my-house-fast/

50% of properties put on market over 2010 didn't sell.
Best Advice: Get a grip on asking price sellers.

Pimperne1

geneer wrote: »

http://www.rightmove.co.uk/sell-my-house-fast/

50% of properties put on market over 2010 didn't sell.
Best Advice: Get a grip on asking price sellers.

Well firstly, 50% of the properties on the market probably included loads of duplicate and triplicates properties of the ones that did sell.

Secondly, we are in a culture where it doesn't really matter if you sell in many cases. These "kite flyers" are skewing the data.

Thirdly, some advice for Estate Agents. Price the property correctly and you won't need to phone up the vendor a couple of weeks after the place goes on the market saying "We might need to review the price". When they do this I usually say "Sorry, its a bit soon to be thinking of increasing the price".

Mallotum_X

All this does is show that the rightmove index is a total waste of time. Other than judging the sentiment/hopes/desires of new sellers.

Its a shame they dont have an index including mark downs too.

Blacklight

My advice would be to wait until banks start lending again.

Turnbull2000

Blacklight wrote: »

My advice would be to wait until banks start lending again.

Or let it out and let rising rents cover the mortgage. An increasing number of mortgages are on below inflation rates, so it makes sense to hold onto such a asset in light of rapidly diminishing supply (against population growth). We're looking at massive expansion of 'accidental' landlords IMO, with letting out first or second properties becoming somewhat normal. And interest rates remaining ultra low for the rest of the decade should provide decent capital gains too.

geneer

Turnbull2000 wrote: »

Or let it out and let rising rents cover the mortgage. An increasing number of mortgages are on below inflation rates, so it makes sense to hold onto such a asset in light of rapidly diminishing supply (against population growth). We're looking at massive expansion of 'accidental' landlords IMO, with letting out first or second properties becoming somewhat normal. And interest rates remaining ultra low for the rest of the decade should provide decent capital gains too.

Ah. So rents will need to increase with interest rates then.
Good luck with that plan.

heathcote123

geneer wrote: »

Ah. So rents will need to increase with interest rates then.
Good luck with that plan.

Did you ever tell us how much your rent went up?

How much profit do you think your landlord makes?

Turnbull2000

geneer wrote: »

Ah. So rents will need to increase with interest rates then.
Good luck with that plan.

Eh? Rates won't be rising very much (if at all) for a long time. In reality, mortgage rates are at record lows and rents at record highs, allowing many landlords to boost their war chest for further purchases. It's practically money for nothing. Lots of it.

geneer

heathcote123 wrote: »

Did you ever tell us how much your rent went up?

I beleive I told you that my rent has remained unchanged since 2009.

heathcote123 wrote: »

How much profit do you think your landlord makes?

I can't say i have any interest in this.

geneer

Turnbull2000 wrote: »

Eh? Rates won't be rising very much (if at all) for a long time.

Best of luck with that.

Of course, in the unlikely event that this does happen this would be good news for any bears who decide to buy following the crash.
Wouldn't it?

Turnbull2000 wrote: »

In reality, mortgage rates are at record lows and rents at record highs, allowing many landlords to boost their war chest for further purchases. It's practically money for nothing. Lots of it.

Actually, in reality rents have not changed for 3 years.

You're right though it is money for nothing.
If you don't count the global financial collapse and the massive economic and social costs apparent now and yet to happen.

In any event, that "money for nothing" will remain avaliable for those who chose to buy after the crash.

geneer

Little clue for property bulls.
If your "arguments" can readily be turned against you, you may wish to consider worthwhile those "arguments" actually are.