Estate Agent - Taking Home off the market (Andrews)

Jack_Johnson_the_acorn

Slinky wrote: »

I've just checked Crashy, when you joined this forum in July 2014 the average house price was £175,653. It is now £223,000. A rise of 26.95%. The tide needs to go out a long way for you.

He's been renting for at least 20 years...... .so he needs to be given a free house plus a significant sum of money to just break even. :eek:

caronoel

Jack_Johnson_the_acorn wrote: »

He's been renting for at least 20 years...... .so he needs to be given a free house plus a significant sum of money to just break even. :eek:

Lots of people have been renting for many years, but are unable to buy through no fault of their own.

Crashy's case is entirely different. He sold his house in the late 90s, and has been living in a bed sit since then paying for a crash to wipe out homeowners.

Sadly, he missed the crash in 2008 when he was still single and in his 40s.

Almost a decade later, he's still single, still living in a rented bedsit, but now in his 50s.

:rotfl::rotfl::rotfl:

caronoel

Slinky wrote: »

I've just checked Crashy, when you joined this forum in July 2014 the average house price was £175,653. It is now £223,000. A rise of 26.95%. The tide needs to go out a long way for you.

He originally sold up in 1997.

Imagine what the price rise has been since then!

:eek::eek::eek:

Thrugelmir

kittensmith wrote: »

£210K is an optimistic price but I need to achieve fairly close to this so enable me to fund the purchase of the type of house I want.

If you believe that the price is optimistic yourself. Then what's the likelihood of being offered this price?

You'd be better off withdrawing the property from the market. Then either paying down the mortgage as quickly as you are able or saving. To boost your available equity.

Cakeguts

Selling a house doesn't work the way you think it does. A house is not worth what you think it is worth. What you want to get for it or what valuation the agent put on. A house is only worth what someone will pay you for it. So if no one is prepared to pay the £210k you aren't going to get that amount. This means that you will not be able to buy the kind of house you want to buy.

Crashy_Time

Slinky wrote: »

I've just checked Crashy, when you joined this forum in July 2014 the average house price was £175,653. It is now £223,000. A rise of 26.95%. The tide needs to go out a long way for you.

Tell that to someone trying to find a buyer. Stats based on an ever dwindling amount of sales are meaningless, it is obvious to most people now that the housing market is broken and a crash is the only solution.

hazyjo

Crashy_Time wrote: »

Tell that to someone trying to find a buyer. Stats based on an ever dwindling amount of sales are meaningless, it is obvious to most people now that the housing market is broken and a crash is the only solution.

Lots of properties where I'm buying are snapped up within a week. And the prices have definitely increased since last year. Some areas are booming...

caronoel

Crashy_Time wrote: »

Tell that to someone trying to find a buyer. Stats based on an ever dwindling amount of sales are meaningless, it is obvious to most people now that the housing market is broken and a crash is the only solution.

I hardly think some like you, who sold up in the late 90s to move into rental, just before a decade long bull run, is in any position to advise others on timing the property market

:rotfl::rotfl::rotfl:

Crashy_Time

caronoel wrote: »

I hardly think some like you, who sold up in the late 90s to move into rental, just before a decade long bull run, is in any position to advise others on timing the property market

:rotfl::rotfl::rotfl:

How do you know when I last sold a house? Bull Run? :rotfl:Great, if you managed to leverage up on BTL and get out in time, or downsize from a bubble price house sale, but it is those stuck trying to sell now, or committing to debt they can`t really afford that are going to reap the mess the bubble has caused, and we will all suffer from the political fallout as well.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

How do you know when I last sold a house? Bull Run? :rotfl:Great, if you managed to leverage up on BTL and get out in time, or downsize from a bubble price house sale, but it is those stuck trying to sell now, or committing to debt they can`t really afford that are going to reap the mess the bubble has caused, and we will all suffer from the political fallout as well.

How do you define a "bubble price" if prices are still going up?

You told me not to buy and that I'd made a massive mistake several yrs ago, my house has increased in price by 30% since I bought in 2011, plus I've paid off 20% of the mortgage. Even if prices dropped by the 50% equity that I've gained the mortgage is fixed for 3 yrs at which point I'll owe very little and will have paid £300 less in mortgage than the avg rent for the last 9 years.....

So we know who the real losers are and that's the forever renters who are stuck paying off their LL's mortgage several times over. :eek: