Rightmove.. Asking prices fell 1.7%, down £4,138,

homelessskilledworker

The only bit that really interests me and what I agree with is the total lack of buyers, they are now like rocking horse s***.

IveSeenTheLight

DervProf wrote: »

Some of you may be aware of my recent "trouble" with nollag2006, due to me posting some anecdotal on the local property market.

Yesterday, I visited my friend and told her what I had posted here. She told me to not post her details (for understandable reasons). I told her that it isn't everyday that a friend of mine puts a property on the market, let alone one for nearly half a million quid, so I thought it might be of interest (and to show some of the more bullish posters) what was really going on in the property market. I said to her, "how many people do you know who have recently sold a house, or have a place up for sale ?". Here reply was "not many, but a lady in my sewing class recently thought she sold her place, but it fell through".

Still only one viewing of her property, but I'll post any updates.

Like I said before, unless your willing to put up the details, the anecdote doesn't lead to any meaningful discussion.

I was interested in this property, it needs a bit of work but the price per square meter, means it's a bloody good opportunity.
http://www-e.aspc.co.uk/cgi-bin/public/LiveProperty/296804?ID=FBMIOBGD#picture
The wife wasn't prepared to do the cosmetics work with us having small children
It's under offer now, so the opportunity has passed.

The point about my anecdote, some properties sell, others aren't.
It will depend on the strength of the marketplace where the property is being sold.

The difference between my anecdote and yours is that others can contribute to the discussion because they also can see the details in my anecdote as I've linked the property.
With yours, you can't contribute so be as well as simply saying: -

Without any link to the property I cannot make any meaningful comments.
Some properties sell, others aren't.
It will depend on the strength of the marketplace where the property is being sold.

End of discussion on that anecdotal property.

Generali

HAMISH_MCTAVISH wrote: »

Sure.

Of course, that percentage is still a minority.

For example:

If prices for 70% if houses are stable, 20% are falling by 2%, and 10% are rising by 2%, the indices will show prices are falling.

Even though, for the vast majority of people, they are not falling at all.

A similar situation to the above has been the case for most of the last few years. Most house prices are stable. A few are rising, a few more are falling, but most are not doing much of anything at all.

I thought that it was more that house prices were falling across most of the country but rising in London.

joe_blotts

Here's the Daily Fail's headline

July house prices fall by average of £4,138 as desperate sellers outnumber buyers two to one

:rotfl:

abaxas

Everyone knows the RM index has nothing to do with house prices. It however, does have alot to do with market sentiment.

Sentiment down, house prices unknown.

Graham_Devon

abaxas wrote: »

Sentiment down, house prices unknown.

Or in recent times, sentiment down could mean another £100bn QE or dodgy plans

It's scary actually, a discussion on the local radio last week surrounded giving people who take mortgages today, access to higher rate savings accounts as an incentive to borrow. Suggested 10% savings accounts rates if you borrow for a new mortgage.

In other words, we'll reward you for taking on debt.

This would go some way to solving the current issues apparently, as people can take new debt and save for a holiday quicker

abaxas

Graham_Devon wrote: »

Or in recent times, sentiment down could mean another £100bn QE or dodgy plans

All magicians know the rabbit is already inside the hat, maybe if someone told Merv, we'd not be in this !!!!!!.

crash123

IveSeenTheLight wrote: »

Like I said before, unless your willing to put up the details, the anecdote doesn't lead to any meaningful discussion.

I was interested in this property, it needs a bit of work but the price per square meter, means it's a bloody good opportunity.
http://www-e.aspc.co.uk/cgi-bin/public/LiveProperty/296804?ID=FBMIOBGD#picture
The wife wasn't prepared to do the cosmetics work with us having small children
It's under offer now, so the opportunity has passed.

The point about my anecdote, some properties sell, others aren't.
It will depend on the strength of the marketplace where the property is being sold.

The difference between my anecdote and yours is that others can contribute to the discussion because they also can see the details in my anecdote as I've linked the property.
With yours, you can't contribute so be as well as simply saying: -



End of discussion on that anecdotal property.

I could easily post a link for a property that has been on the market for a very long time and we could discuss. All areas are different. Yorkshires golden triangle is supposed to be immune to falls but it is not.

In fact the house that I was interested in at the last local auction did not sell and is in the next sale, guide price £50,000 cheaper than last time.

https://www.fssproperty.co.uk/searchauctions/?showstc=on&instruction_type=Auction&orderby=lot_no asc&n=0

IveSeenTheLight

abaxas wrote: »

All magicians know the rabbit is already inside the hat, maybe if someone told Merv, we'd not be in this !!!!!!.

I get the analogy, don't worry.
I did see a magician trick the other night and wonders if it was a trick or just sheer focus, determination and willpower.
If not, how do you suppose he completed the trick?
http://www.youtube.com/watch?v=P2jRuq3-cRM

Another one, maybe you could explain howhe could draw a paper article almost a week ahead of time and know that the present would choose the article from the list of papers, almost a week ahead of time.
Of course it could be a sham and he did the sketch 1/2 hour earlier with the presenter in on it.
http://www.youtube.com/watch?v=TZEwHt99q10

IveSeenTheLight

crash123 wrote: »

I could easily post a link for a property that has been on the market for a very long time and we could discuss. All areas are different. Yorkshires golden triangle is supposed to be immune to falls but it is not.

In fact the house that I was interested in at the last local auction did not sell and is in the next sale, guide price £50,000 cheaper than last time.

www.fssproperty.co.uk/searchauctions/?showstc=on&instruction_type=Auction&orderby=lot_no asc&n=0

Indeed, a linked propert could be discussed in more detail.
Without knowing the property, there's very little debate or discussion opportunities.

Maybe they just want reassurance i.e. "That's nice, you did the right thing" sort of thing.

With regards to your link, I think auction houses are good opportunities for many and indeed developers are routinely checking these out.
There are risks associated and you really have to be confident in the property and your property knowledge.
I don't think there are opportunities to offer subject to a survey for instance.