Houses regularly coming back onto market

roneik

We are at the start of a property crash. The reasons are many . Anyone that could not see this outcome when the government tinkered and intervened with QE and help to buy is blind. Stricter credit requirements are playing a part too. Under valuations of peoples expectations of the value of their property are also playing their part in halting, and the inevitable crash

Strap yourselves in tightly ,:rotfl:because the ride is in motion

Surrey_EA

roneik wrote: »

We are at the start of a property crash. The reasons are many . Anyone that could not see this outcome when the government tinkered and intervened with QE and help to buy is blind. Stricter credit requirements are playing a part too. Under valuations of peoples expectations of the value of their property are also playing their part in halting, and the inevitable crash

Strap yourselves in tightly ,:rotfl:because the ride is in motion

Who knows? You might be right, you might be wrong.

"There are those that don't know, and those that don't know they don't know."

I've had someone tell me the market is about to crash every year since 2001, one day I'm sure someone will be right, but it's a devilishly difficult thing to accurately predict.

ETA: I was going to point you towards housepricecrash.com, however I see you are already familiar with that site, but have managed to get yourself banned.

Riq

I have my house up for sale at the moment, I am in no rush to sell as I haven't seen a house I like yet, just know the area I want.

The house I wanted came up for sale but has been sold subject to contract so hopefully that comes back on the market! After reading this thread I have renewed hope.

LondonGirl252

We're experiencing this right now too. The apartment we are buying has already fallen through on sale twice... 1st time the buyers deposit was funded by his father, after offer was accepted once the deposit was required Dad wanted to view the flat and refused to fund demanding his son find something cheaper. 2nd time the buyers deposit was in shares that had a long vesting period and weren't liquid.


So now we have some nervous vendors, we have had to prove our AIP, prove our deposit is in the account. Even with this we had to show we had paid the solicitor search fees before they would suspend viewings and won't take it off the market completely until we have had the mortgage valuation done.


I'm so nervous it will fall through and we will be back at square one

the_boot

I think something like 25% of sales fall through. The figure may even be higher than that.

There are a couple of SSTC houses that I am hoping will come onto the market. I think it is 10 weeks since one was SSTC now and the sale board is still up.

Surrey_EA

the_boot wrote: »

I think something like 25% of sales fall through. The figure may even be higher than that.

There are a couple of SSTC houses that I am hoping will come onto the market. I think it is 10 weeks since one was SSTC now and the sale board is still up.

It's certainly around that.

Although 10 weeks from offer acceptance to exchange is at the quicker end of the spectrum these days.

getmore4less

freddyq wrote: »

What angers and frustrates me most is the 'missed opportunity' for serious buyers like us. By the time the property returns to the market we are either looking at something else or weary/in danger of experiencing the exact same situation again

if you are still looking this makes no sense

If it was good enough then and not now then you had a lucky escape.

BeansOnToast_2

Thankfully the house we bought last year did come back on the market. Else we would never have got it!. The vendors put it back on the market because the original "buyers" were taking too long. We took 9.5 weeks from first viewing to completion.

class2ldn

The house we saw today sold originally in may, is now back on the market for 250 which is towards the top of our budget. Thing is, we really liked it so would be prepared to pay that if it comes to it.
Down here in crawley houses seem to go so quick.
Apparently they had trouble getting a mortgage.
Obviously if we could get it cheaper it would be great but obviously we don't know what it sold for originally.
Our worry is if we start putting offers in under the asking price someone will just go straight in and we'll lose it.
Is it the done thing to just offer the asking price straight away?
Had a look on zoopla and they estimate it at the 230k mark.
Anyone know how they value places?

socmwils23

class2ldn wrote: »

The house we saw today sold originally in may, is now back on the market for 250 which is towards the top of our budget. Thing is, we really liked it so would be prepared to pay that if it comes to it.
Down here in crawley houses seem to go so quick.
Apparently they had trouble getting a mortgage.
Obviously if we could get it cheaper it would be great but obviously we don't know what it sold for originally.
Our worry is if we start putting offers in under the asking price someone will just go straight in and we'll lose it.
Is it the done thing to just offer the asking price straight away?
Had a look on zoopla and they estimate it at the 230k mark.
Anyone know how they value places?

I would ay if you are desperate to have it and can't risk losing it again then bid the asking price and ask for it to be taken off the market straight away.

if you want a saving and are prepared to risk someone else coming in then bid a bit below your maximum price and see what comes back.

As for Hoopla i think it just takes previous sold prices then uses how much properties in your area have risen. We were valued by estate agents at 197k and sold for 193k. Hoopla has us at 180k value. Primarily because next door sold for 170k six months back but he was desperate to go as had been transferred jobs so took the first offer he got.