**Don't Buy A House** House Prices Set To Crash!!!

Lally

dougk wrote:

When I purchased my first house in 1999 I paid 94% of the asking price.... however I actually paid only 85% of the original asking price as the price had recently dropped when I enquired initially.

Its nothing new to pay 95% or less than the price advertised. Prices in the area where I am do not seem to be falling rather the advertised prices have INCREASED since the end of January... The falls came at the end of last year.

try living in Scotland. We operate an Offers Over system and the offers are typically at least 25% over the price. I have never heard of anyone offering under the asking price. If you are lucky, the owners will asked for a Fixed Price but thats very rarely negotiable.

Slothy

Having just bought my first house in Scotland, I've always found the Offers Over system very odd. I knew the sellers were very keen to move, so I was able to get away with their asking price (ie nothing over), but you do hear about ridiculous amounts being offered over the starting price

mando_2

Sheffield seems to be so different to everywhere else. If you get away with paying the asking price then theres something wrong with the house or you are very very lucky. It's not uncommon for a place to sell over £5000 over the asking price. One house we bidded on ending up going over £12000 over the asking price, at which point we will pulled out of the bidding race as we couldn't afford it and realised we were being daft.

nelly_2

Woby_Tide wrote:

What if the asking price was 10% over the expected value?



Stop moaning and buy one then, tight arsed greedy gits? Erm I think you'll find that they are classed as homeowners, when you buy a house eventually you'll become a tight arsed greedy git too by that rationale.

No actually I wont become tight or obsessed with the price of my house, tight !!!!!! are the scum of society imo. I am 100% certain that I will never check what my house is worth or how much Doris' house 2 doors down went for last week etc etc. I prefere to spend my time having as much fun as possible thanks. Unless your crystal ball says different of course.

S3m4n71c

nelly wrote:

No actually I wont become tight or obsessed with the price of my house, tight !!!!!! are the scum of society imo. I am 100% certain that I will never check what my house is worth or how much Doris' house 2 doors down went for last week etc etc.

Sorry. Thought this was a money saving web site where the whole point is you ARE aware of what you have and what you spend?

Anyhow.....back to the point....I have just had an offer accepted on a house in northeast England (86.87% of original asking price, 95.61% of reduced asking price) and one advantage the house buying process has provided for me is that it has made me SORT my life out with regards to my finances. Awareness of my money and what I was spending it on was not something I found particularly interesting, despite the fact that I knew I was paying through the nose for most things. Dissonance or what!!?!!

Having been effectively forced into looking at saving money, I realise it is now a game and a very satisfying one at that!!!

Disclaimer: To sort your finances out, buying a house is not compulsory. ;o)

pickle

This is a money saving site, being a tight !!!!!! is what it's all about. Then you can spend what you save on the fun things in life like holidays!

Kippsy

House prices! I bought my house about 18 months ago and it is probably worth about the same, property in the area has steadily gone up ( a little) and I have had some "improvements" done to the place, unfortunately I have to continue to shell out so I can tidy up to make it less like a building site and more saleable!!

But anyway the whole mortgage thing works two ways...

expensive house, low interest rates.

Cheap house (when are they ever) high interest rates.
After 25 years the actual price you pay probably wouldn't be that different for either.

pfn

I can't help but to reach for something cold everytime I hear people whining about property prices.

Prices are all fuelled by demand. (Obviously)

More people want to live in nice areas close to transport and amenities and maybe a local celeb (Obviously)

More people want to have more room (OBVIOUSLY)

More people want to have a garden (OBVIOUSLY)

More people want to have a house (OBVIOUSLY)

Not too many people wants to live in or near a tower block (OBVIOUSLY)

People cant understand that as a first time buyer you cant buy a property in your first choice location (Look at London as a whole please), your prefered size (a room for the baby we'll have in three years, a room for when friends come over etc.), your prefered style. (NOT SO OBVIOUS)

Get realistic or perhaps you are not ready to buy yet!

nelly_2

Theres a massive difference between being tight and not wanting to pay too much for something.

Im in the process of buying a hose at the moment,only because its the only house I have seen in the last 2 years that actually is worth the asking price.

Its an extended 3 bed detached in one of Manchesters better area's right in the top of a cul-de- sac, for £162 000. Ive spoke to these people and they are just realistic about things. In another area that is regarded as less desirable area there is a 2 bed terraced for £145 000. Guess which owners are the tight arsed money/house price obsessives?

bridiej

There was a classic on our local news a couple of weeks ago.

A young couple bought a housing association type flat (where they own a share and pay rent on the rest) because they "couldnt afford" to buy somewhere outright.


They were interviewed in their front room - with an enormous widescreen TV and entertainment system behind them!!!

Sorry, but one of the main reasons people cant get on the property ladder these days is that they dont seem prepared to sacrifice the luxuries in life to do it. They all have to have the latest mobile, the biggest TV and lovely clothes etc.