Asking Price and Offer Amount

Crashy_Time

hazyjo wrote: »

You might want to read people's replies to Crashy on other threads before accepting his 'valuation' on it.

Or just ignore Crashy and listen to all the other voices shouting about the big elephant in the room :rotfl:




http://www.cityam.com/269075/one-third-london-house-prices-have-been-reduced-weve-ranked


http://www.standard.co.uk/business/virgin-money-in-london-house-prices-warning-a3595456.html

hazyjo

Crashy_Time wrote: »

Or just ignore Crashy and listen to all the other voices shouting about the big elephant in the room :rotfl:




http://www.cityam.com/269075/one-third-london-house-prices-have-been-reduced-weve-ranked


http://www.standard.co.uk/business/virgin-money-in-london-house-prices-warning-a3595456.html

Not disputing the fact it's harder to sell, but that does not mean prices have dropped. Lots are still up from a year ago. Mine has been fairly static for a year or so. It was going up £100k a year before that for three years. Quite obviously it can't maintain that lol. But it does not mean the property market is crashing just yet...

LuckyG

I've just purchased a house for £145k. It was originally up for sale in June 2016 for £165k.

A few months later it was reduced to £160k, then further reduced to £155k where it remained for about 3 months.

I really wanted the house but could only afford £150k at a push, so I offered £140k.

This was turned down so I offered £145k, this was initially also turned down so I said I wasn't prepared to offer any more. The vendor said if I'd go to £148k he'd accept.
I said £145 was my highest offer.

10 minutes later I got a call from the EA saying my offer had been accepted.

That was in May, I'm due to complete on Friday.

If the house has been reduced a few times already, then there's possibility that they'll reduce it further.

Muttleythefrog

I'd agree with advice... no expert...but you can only try. I live in the region but you obviously live nearby so must know the locality well enough... surprising a bit the apparent drop in 'value' from initial sale... would be inclined to just have a casual look over police data for the street https://www.police.uk/ and if brave speak to a neighbour. Otherwise may be that new housing was overpriced.. lots of developments around Country Durham and of course housing generally good value as you'll know.

ReadingTim

Crashy_Time wrote: »

Or just ignore Crashy and listen to all the other voices shouting about the big elephant in the room :rotfl:




http://www.cityam.com/269075/one-third-london-house-prices-have-been-reduced-weve-ranked


http://www.standard.co.uk/business/virgin-money-in-london-house-prices-warning-a3595456.html

Crashy, as you well know anyone can post up various links to support whatever their agenda happens to be - you yourself have been scraping the bottom of that particular barrel with your links to english language newspapers from the middle east and mumsnet threads. It doesn't make them any more valid though.

Jenniefour

OP - another thought. I would be checking if this is a freehold or leasehold property with all the goings on where some more recently built houses are leasehold and have big ground rent increases.

Crashy_Time

ReadingTim wrote: »

Crashy, as you well know anyone can post up various links to support whatever their agenda happens to be - you yourself have been scraping the bottom of that particular barrel with your links to english language newspapers from the middle east and mumsnet threads. It doesn't make them any more valid though.

No, not long ago you would have had to trawl the internet for articles saying property was in a bubble and due a crash, now it is all over the MSM. If you want to believe that this has no effect on sentiment be my guest, but someone about to sign up for a bubble sized mortgage would do well to take note of the shift in attitude towards property at all levels and price their bid accordingly IMO.

glasgowdan

The house was a new build in 2009 hence the high price. It's just found its true value now it's 'used'!

Regina.filangie

House is freehold.


Update - I called the EA this afternoon to confirm the viewing time and used the opportunity to ask what the vendor's position is. He was in the middle of telling me that "they are actively searching for a property" only to be interrupted by someone in the background who piped up and informed him they have found a house to buy. This is really good news as it shows they need a sale fairly swiftly. I asked if there had been any offers yet and he said no - but there has been quite a bit of interest over the past couple of weeks. This doesn't surprise me as there are many others in the same position as me looking for a house to buy. There are literally none in my area at the moment bar this one.


Viewing tonight, wish me luck.

GingerFurball_2

Crashy_Time wrote: »

Or just ignore Crashy and listen to all the other voices shouting about the big elephant in the room :rotfl:




http://www.cityam.com/269075/one-third-london-house-prices-have-been-reduced-weve-ranked


http://www.standard.co.uk/business/virgin-money-in-london-house-prices-warning-a3595456.html

How are London prices relevant to someone buying in Durham?