To Exchange if we Brexit

Davesnave

Southerner3000 wrote: »

hazyjo wrote: »

Someone gets it!!

Everything is relative. if prices fall 10% and you bought your house for £250k you have only 'lost' £25k whereas a £500k house loses £50k.

I agree, but this is theory. The real world is often more complex.

Selling in the last recession, I thought it would be easy to get a good deal, but in the area where I wanted to go, people were not as willing as I'd been to accept the new reality.

I've detailed here several times how I made unsuccessful offers, which later proved to be generous. How couldn't the vendors see that?

Meanwhile, the supply of good property dried-up.

It was only flexibility over location that enabled me to buy something from a desperate vendor at a price which matched the sort of discount I'd accepted.

hazyjo

Davesnave wrote: »

Southerner3000 wrote: »

I agree, but this is theory. The real world is often more complex.

Selling in the last recession, I thought it would be easy to get a good deal, but in the area where I wanted to go, people were not as willing as I'd been to accept the new reality.

I've detailed here several times how I made unsuccessful offers, which later proved to be generous. How couldn't the vendors see that?

Meanwhile, the supply of good property dried-up.

It was only flexibility over location that enabled me to buy something from a desperate vendor at a price which matched the sort of discount I'd accepted.

Yeah I had the same with the EAs I bought through. House was up for £300k but nobody was paying it. Was very unloved and cold. The EAs kept telling me to ring back as I was willing to pay around the £270+ mark. Eventually, months later, when it STILL wouldn't sell (despite the EA telling me prices were starting to rocket and it wouldn't be on the market much longer), they eventually sold it to me for £274k (really was them, the vendor was okay, they just kept fobbing me off).


I've always been selling and buying in popular areas so have experienced it. I've offered on many houses in the recession when they refused to drop and missed out and ended up selling for far less than I'd offered! Eventually, after a couple of years, I have found that generally people accept they're in a recession.


I still see it in a rising market though. Everyone wants their house on for more than the last person got... No doubt I will be buying a bit of an ugly duckling from a desperate seller again - I seem to go for them lol.


Jx