Quit everything , and start again over 50?

lessonlearned

Smodlet wrote: »

Oh my gosh, AC, this is just the kind of panic I was hoping our nation, with its sang froid, might manage to avoid. Gut instinct says, keep calm, sit tight and ride it out for at least a couple of weeks.

Try to remember, whatever is happening to your property is happening to all of the others, too and the London market has always been far more resilient than the rest of the country's, I think.

What say you, LL? And step away from the batter... fried bread is bad enough, but bread fried in yorkshire pudding mix? Not feelin' it, gotta say.

Not eaten Pan Perdue......you've not lived. :rotfl:

Mums was the peasant version, Jamie does a posh one with extra cream and vanilla and stuff.

Smodlet

Again with the cream, no cream, I tell you, hold the cream, can't stand the stuff. And cream and bread just do not go together, what's wrong wi' a bit o' butter, lass?

Sounds as if you have Jamie well trained :cool:

anna_1977

The 2 houses that were on the market where I live have both sold - yesterday for full asking price!

They were above my price bracket but they wouldn't accept offers

another_casualty

No response from chase Buchanan so far , regarding my reply to yesterday's email .
I will phone 1 or 2 estate agents in Poole today , and find out their take on things .

another_casualty

anna_1977 wrote: »

The 2 houses that were on the market where I live have both sold - yesterday for full asking price!

They were above my price bracket but they wouldn't accept offers

Interesting Anna . I'm unsure what to do .
Refucing the price from£425k to £375k in 6 weeks seems mental to me . Personally, I thought £405 k is the right price for my property, regardless of the 'work needed '.
Trying to holdout is depressing .

lessonlearned

Don't do anything today.

Hold steady and gather information. Speak to the Poole agents first.

I have to dash out now but my gut feel is to just play for time.

I know it's hard but wait and see.

If the viewings completely dry up then you may need to reconsider but for now don't act rashly. £50k in 6 weeks is too much too soon, unless you have no choice.

If you are utterly desperate and the bailiffs are circling like vultures then you would have no choice but to have a fire sale. If you are not there yet then try not to panic.

As long as the viewers keep coming you are in with a chance.

If you go down to £375 now it sends out a signal that you are desperate and you would be lucky to get £350. The investors and developers will drive a hard bargain.

Ultimately only you know what your limits are, both financial and personal. If you can hold out then do so, if not then reduce.

However, whatever your decision I still say play for time. Another week or two before you reduce won't make any real difference.

another_casualty

So ; I spoke to 2 estate agents in Poole . They both said that , it's probably a knee jerk reaction from chase Buchanan ( reduce price ).

I Spoke to chase Buchanan a few minutes ago, telling them not to reduce the price . They did tell me nothing is moving .

Unfortunately for me in the short term, it looks like I won't be able to move until next year . Tedium and debt will not go away !

There is a slim chance , that I may get an offer. This IMHO is because , the last few viewings were more positive and I did seem to be getting nearer.

another_casualty

More news : Dexters ( estate agents- not the murderer), called me for an update . They say they are doing really well etc.
I will be visited by them on Friday . Maybe to take them on board as well ? Who knows . Dexters are very good , and it was 50/50 as to who I chose .
So ..

Smodlet

Hi all,

AC, it sounds to me as if CB are just trying to make their own lives easier, perhaps they are more commission based than most EAs and they are the ones who are panicking. I know I am no EA but I'm in total agreement with LL: Another price reduction in less than two months sends only one message. Buyers will look for things wrong with it, expecting to see anything up to and including structural problems if you reduce it too much, too soon.

Anna, interesting news. Perhaps the refusal to accept offers signals cooler heads prevailing in your area.

Hang in there, guys. I may be thick but I still don't understand what the panic is about. It is not as if the tide of immigrants will reduce overnight, if it does at all; less than half were from the EU, anyway and those who already own property here will not all be leaving next week! I doubt we have any grounds to evict them at all, we can't do that to anyone else who lives here so... I just don't get it but politics gives me a headache at the best of times. :huh:

lessonlearned

Well had a chat with "Oliver". As I suspected it's a local chain so not much help there for you.

Their position is that the office has lost 2 sales since Friday, but no properties withdrawn. He waffled on about interest rates being at an all time low and that mortgages will get easier than ever. I disagree.

I think whilst interest rates might well remain low I think there will be some tightening up on lending, because the Bank of England will insist that banks keep good cash reserves and they are going to want to at least be seen to be eliminating as much risk as possible. (Well at least whilst they are under close scrutiny).

However, I am no banker and I cheerfully admit I could have that one wrong.

AC theres no harm in having a chat with Dexters (I loved that series, it was so dark and funny). And there's no harm in having more than one agent acting for you.

The bungalow?? I am undecided. I might get my boys to have a look. The agent was really pushing it - kept hammering the point that they were open to offers.

I know this sounds daft but although it ticked most of the boxes it just didn't "feel right". The vibes weren't there - mind the stench of urine probably didn't help........:rotfl:

I have taken on "dogs" before but usually they have had a charm which tugs the heart strings - a bit like a poor half starved flea ridden animal just begging to be rescued.

I am genuinely undecided on this one, at the right price it would be a good "flipper" but it would have to be at least 20 per cent off the current asking price and they have already reduced it by 10 per cent a week ago.

Even then I dont think its "me".......:rotfl: