House prices in the real world....

ukcarper

geelamch wrote: »

If you believe all this tosh on this thread I think medication not education is the requirement here.
People still losing jobs monthly ,no long term employment ,young unemployment at record high oh yes combine those alone and you have the factors for a boom economy hmmmmm....
Forget London and the Thames corridor,this is fuelled by a great deal of foreign cash ,subsidised accom and company money.
The ordinary joe has a while yet before we see light at the end of the tunnel and even then will and should be very wary of big commitment.
I recall the negative equity of the nineties ,interest rates of 10-14% ,rate increase twice in one day.i was paying £512 monthly for a £26000 mortgage ,roughed it out for two years and sold for a loss.
The problems associated with house buying are and will always be here so the statements that this is the time to buy in my opinion can be manipulated by those with a self interest ie, banks ,house builders estate agents and sellers. Bankers etc aside we are paying the price for an overheated and over indulgent economy ,are we now saying that that we should now all jump back into the "frying pan "once more.lets learn a wee lesson here and slow down ,keep your head above water,feed and clothe yourself,make sure you have a degree of employment security and a few months salary squirrelled away to avoid the 1 wage from disaster scenario lifestyle that we all bought into.
A house doesn't bring happiness to most ,being able to sleep at night does.

What is that.

The majority of people who buy do not run in to problems and enjoy living in their homes.

System

Joeskeppi wrote: »

Accepted an offer on our place last week for 5% below asking, from a slightly nutty old Czech lady who also bought 3 other places that day to have as BTLs.

House hunting now, market is tough, not much on and anything decent goes quick. It used to be a real buyers market but I don't think that's the case now.

I made an offer of 184 on a property valued at 190 today and the !!!!!!!! agent pretty much laughed in my face. I think people are holding off selling till next year expecting big rises.

shortchanged_2

Joeskeppi wrote: »

I made an offer of 184 on a property valued at 190 today and the !!!!!!!! agent pretty much laughed in my face. I think people are holding off selling till next year expecting big rises.

Don't worry the estate agent won't be laughing when the subsequent offers come in even lower.

fc123

shortchanged wrote: »

Don't worry the estate agent won't be laughing when the subsequent offers come in even lower.

...sorry but you're wrong. They are not going to go down, the crash has been and gone.

Granted, they rean't going to leap by big chunks up and up each year but they are dribbling up bit by bit to keep up with inflation.

Going4TheDream

fc123 wrote: »

...sorry but you're wrong. They are not going to go down, the crash has been and gone.

Granted, they rean't going to leap by big chunks up and up each year but they are dribbling up bit by bit to keep up with inflation.

I woudnt say 'crash' is the right term more like an ongoing natural adjustment, trickling down slowly just as some prices are rising slowly.

Lets not forget the housing market doesn't just consist or London/ the SE and Aberdeen or the more exclusive areas of bigger cities and the larger increases these locations may enjoy when applied to national figures will obviously dilute the losses and make the picture look more favourable overall.

I live in a very nice area in a very large detached house, these properties do not come on the market often and because of the area sell fairly quickly at at asking price when they do. Yet around 70% of terraces,semi's, flats and newbuilds within a mile or two miles bought around the time of the boom are selling at a loss.

This cannot be unique to my locality and is likely a story in many parts of the country? We may not be seeing a crash per se but natural adjustment is still occurring.

wotsthat

shortchanged wrote: »

Don't worry the estate agent won't be laughing when the subsequent offers come in even lower.

I reckon the estate agent would rather get 1.5% of £184k today than 1.5% of £190k next year. It's only a £90 difference in fees.

shortchanged_2

wotsthat wrote: »

I reckon the estate agent would rather get 1.5% of £184k today than 1.5% of £190k next year. It's only a £90 difference in fees.

Fair point wotsthat.

But do you genuinely believe that an EA would laugh at an offer which is less than 5% under the asking price?

If that's the case why don't they market the property at a higher price in the first place?

I think it is probably a bit of a jackanory from joeskeppi who has been dealing with one of moneyinmypockets infamous groin thrusting EA mates.

the_flying_pig

shortchanged wrote: »

Fair point wotsthat.

But do you genuinely believe that an EA would laugh at an offer which is less than 5% under the asking price?

If that's the case why don't they market the property at a higher price in the first place?

I think it is probably a bit of a jackanory from joeskeppi who has been dealing with one of moneyinmypockets infamous groin thrusting EA mates.

aye. eminently normal to start off 5-10% below asking and end up sealing the deal, give or take, 5% below asking.

normally if you ask £190k selling for £180-odd would be a pretty good result.

System

shortchanged wrote: »

I think it is probably a bit of a jackanory from joeskeppi who has been dealing with one of moneyinmypockets infamous groin thrusting EA mates.

Why do plebs like you and Graham insist that everything must be a lie? You assume everyone is at your sad little level.

As it stands my offer of £184 is still the highest but the EA and the owner are convinced they will get an offer of asking today as someone is coming back for a 4th viewing.

My initial offer of 180 was rejected by the EA on the vendors behalf the second I made it.

My offer of 184 was met with a sigh and "heh, ok well I'll forward it on anyway".

shortchanged_2

Joeskeppi wrote: »

Why do plebs like you and Graham insist that everything must be a lie? You assume everyone is at your sad little level.

As it stands my offer of £184 is still the highest but the EA and the owner are convinced they will get an offer of asking today as someone is coming back for a 4th viewing.

My initial offer of 180 was rejected by the EA on the vendors behalf the second I made it.

My offer of 184 was met with a sigh and "heh, ok well I'll forward it on anyway".

Did they seal the deal at the asking price then?

Please keep us updated.