House not selling? Think about this.

buggy_boy

Crashy_Time wrote: »

Yes, and the links were there to underline falling sales transactions. I am saying that the headline price averages are not important, but you keep quoting them as if they somehow mitigate sales falling 20%?

Maybe look into why sales are falling rather than just quoting it as a prelude to a house price crash... People are extending instead of moving. Just try to get anyone in the trade these days...

But you have never let facts get in the way of your obsession that prices are falling or about to fall.

Crashy_Time

buggy_boy wrote: »

Maybe look into why sales are falling rather than just quoting it as a prelude to a house price crash... People are extending instead of moving. Just try to get anyone in the trade these days...

But you have never let facts get in the way of your obsession that prices are falling or about to fall.

People are extending because they can`t find buyers willing to pay what they need for the next level house, classic pyramid scheme meltdown

buggy_boy

Crashy_Time wrote: »

People are extending because they can`t find buyers willing to pay what they need for the next level house, classic pyramid scheme meltdown

Haha what a load of rubbish, people are extending because it makes financial sense and the costs of moving these days is so high...

Spend £30k on an extension and in most cases you will increase the value of your property by at least £30k. Compared to moving where there is nothing much for sale on the market and the cost of SDLT, solicitor fees, selling fees, moving fees and finance fees is wasted money.

Crashy_Time

buggy_boy wrote: »

Haha what a load of rubbish, people are extending because it makes financial sense and the costs of moving these days is so high...

Spend £30k on an extension and in most cases you will increase the value of your property by at least £30k. Compared to moving where there is nothing much for sale on the market and the cost of SDLT, solicitor fees, selling fees, moving fees and finance fees is wasted money.

https://www.dailymail.co.uk/property/article-6307101/We-reveal-pockets-Britain-seeing-biggest-price-reductions-homes-sale.html


Most people "extending" are just throwing money down the drain if they think they will make big profit from doing it IMO.

ukcarper

capital0ne wrote: »

Has your house been on the market for 10+ weeks?
It's probably over priced and the answer is obvious. You probably took the advice of three or more estate agents, then checked the for sale prices in your area for similar properties and voila you arrived at a price.
Well all you've done is look at a list of prices that houses are NOT selling at. The ones that sold won't be on the list so you wont have a comparison. And the agent wants lots of high price houses on his books so he can charge even more.
You should be looking at list of SOLD prices and pitch your property at that level.

Proof is a friend of mine who flips houses, the current one started at £139k (two bed terrace in Cornwall) - six weeks no sale and few viewings, dropped to £132.5k and it sold (STC) within a week!

Good luck folks and Merry Xmas :beer:

You seem to be missing a couple of things advertised price is not sold prices and majority of people are prepared to accept a lower offer, secondly lot of people are no that desperate to sell and are testing the water.

Crashy_Time

ukcarper wrote: »

You seem to be missing a couple of things advertised price is not sold prices and majority of people are prepared to accept a lower offer, secondly lot of people are no that desperate to sell and are testing the water.

Many are not prepared to accept realistic lower offers though?

ukcarper

Crashy_Time wrote: »

Many are not prepared to accept realistic lower offers though?

That's up to them and if they are no desperate to sell why should they.

Crashy_Time

ukcarper wrote: »

That's up to them and if they are no desperate to sell why should they.

Many are desperate to sell though, it is just that their price expectations have been warped by years of HPI (due to cheap credit and bailouts) and excessive cheerleading of property price rises by the media.

ukcarper

Crashy_Time wrote: »

Many are desperate to sell though, it is just that their price expectations have been warped by years of HPI (due to cheap credit and bailouts) and excessive cheerleading of property price rises by the media.

How do you know I know a couple of people who have put thier properties on market recently and are not desperate to sell. A lot of us know your situation and attitude and that post confirms what most of us think.

jimbog

Crashy_Time wrote: »

I am saying that the headline price averages are not important, but you keep quoting them as if they somehow mitigate sales falling 20%?

And there was me for all this time thinking that 'Crashy Time' related to house prices crashing rather than house sales crashing