Any other home buyers in NI?

motorguy

saverbuyer wrote: »

How? Why? Seriously?

We need to see movement in the market before we see any sort of price growth.

Prices go up based on availability of finance and demand.

We're seeing movement in the market compared to 5 years ago. Given time, we will see growth.

motorguy

saverbuyer wrote: »

Sorry but why is it a good thing????????

I didn't say it was "overspending".

Please refer back to the original context from which you extracted my text.

saverbuyer

motorguy wrote: »

You've got me confused here - on one hand you're saying that "most investNI backed jobs are call centre based" but now you're saying that these top 100 companies are all InvestNI clients, but clearly only a small amount of the companies are call centre related?

Have you argued yourself round in a circle again?

You pointed out the top 100 companies and said they were growing lots.

I said define "lots".

I said according to InvestNI the majority of jobs they created are low paid call centre type work.

You are saying there aren't may call centre jobs out there.

I'm saying 60% of the jobs Invest created are call centre job.

So you say the top 100 companies are have created loads of jobs. I'm saying according to InvestNI 60% are call centre ones.

motorguy

saverbuyer wrote: »

I there's no one else who can buy the car apart from me, and you want to sell it. Than at that moment in time it is worth what I am willing to pay, not the figure you have made up in your head.

But i, as the seller, still have choice - I dont have to sell it to you.

Market rate is a two way thing - its an agreed price between what the seller is prepared to sell it for and what the buyer will pay.

The exception to that is a distressed market whereby i *have* to sell for whatever reason.

I think we're getting to the point where the distressed sales are bottoming out and prices will stabilise and then increase.

motorguy

saverbuyer wrote: »

You pointed out the top 100 companies and said they were growing lots.

I said define "lots".

I said according to InvestNI the majority of jobs they created are low paid call centre type work.

You are saying there aren't may call centre jobs out there.

I'm saying 60% of the jobs Invest created are call centre job.

So you say the top 100 companies are have created loads of jobs. I'm saying according to InvestNI 60% are call centre ones.

So you're just arguing for the sake of it, because you seem to be arguing a different point to mine?

saverbuyer

motorguy wrote: »

But i, as the seller, still have choice - I dont have to sell it to you.

Market rate is a two way thing - its an agreed price between what the seller is prepared to sell it for and what the buyer will pay.

The exception to that is a distressed market whereby i *have* to sell for whatever reason.

I think we're getting to the point where the distressed sales are bottoming out and prices will stabilise and then increase.

It's pretty hard to put a price on something that hasn't sold. But then accountants do it all the time.

You have comparables, RICS use these, if the house next door sells for X, yours will be worth X.

motorguy

saverbuyer wrote: »

It's pretty hard to put a price on something that hasn't sold. But then accountants do it all the time.

You have comparables, RICS use these, if the house next door sells for X, yours will be worth X.

Yup. Exactly.

The problem has been there has been no reference point. You cant value your house based on +/- % of the one next door as it hasnt sold.

Some houses have sold too cheap, some too dear. Others have practically been given away in distressed sales.

Now that we're seeing houses selling again, then people start to have a reference point. They can start to say "well that house down the road made £105K, and one further down made £106K. Mine is on a bigger site, therefore mine must be worth £110K.

Likewise a buyer can make decisions based on what other people have paid - ie, they have a "confidence" that the price they are paying is the market price.

Now are you getting it?

qwert_yuiop

motorguy wrote: »

Indeed - a lot of people 'cant afford' their own house now through lack of a reasonable deposit or not meeting the lending criteria.

Therefore dropping the value of houses further wont resolve that.

'Course it will - lower price means increased affordability




Just because some individual cannot raise the finances to buy something does not mean its not 'worth it'.

If i had a £200K ferrari that i was going to sell to someone for £100K and they could only raise £50K of a loan, it doesnt mean the Ferrari is only worth £50K.

Well, if your Ferrari has been fully advertised and you get one offer of £50 k, that is sadly all that matters.
Although why a £200k Ferrari would be for sale for £100k is more interesting. Is this a real sale? I'm interested

saverbuyer

motorguy wrote: »

Yup. Exactly.

The problem has been there has been no reference point. You cant value your house based on +/- % of the one next door as it hasnt sold.

Some houses have sold too cheap, some too dear. Others have practically been given away in distressed sales.

Now that we're seeing houses selling again, then people start to have a reference point. They can start to say "well that house down the road made £105K, and one further down made £106K. Mine is on a bigger site, therefore mine must be worth £110K.

Likewise a buyer can make decisions based on what other people have paid - ie, they have a "confidence" that the price they are paying is the market price.

Now are you getting it?

Are you getting that there's have been around 70000 house sales since 2007? There are plenty of comparable sales.

qwert_yuiop

Have we slipped away from the news item which prompted today's activity on this thread?

"House prices fell again in August and September."

Discuss.