for those with there house for sale how low are the silly offers coming in at ?

Merton

caveatvenditor wrote: »

Oh dear looks like you're going to be chasing the market down.

The times are changing.

See you in a few years at 90K.

It's not going to take years to get there...

andyyorks

Phirefly wrote: »

Have you got a rightmove link? While there's a lot of bleating on this forum, there are also many experienced, knowledgable individuals who can appraise your property details and give you sound advice on how to best market it to acheive the highest possible sale price.

Would you post a link to your house if you'd had this type of response to a perfectly reasonable question? I wouldn't.

Most on this thread can't even read the original post, understand the question and respond accordingly.

Imelda

We put ours on at the weekend for £250k, had an offer today for £235k, said we will split the difference (ie 242.5k) and just waiting to hear back.

Other flats in the same block (ie identical size and layout) are on for £260- £265k, I think they are in cloud cuckoo land....

The reason we are selling is that it's a one bed flat and a bit too small for 2 people. Although we are happy there now we'll probably want somewhere bigger in the not too distant future and would rather sell now than wait a while and be unable to sell at all.
We've made a decent amount on the property and don't need to be greedy, we would just prefer to sell it someone who's not going to mess us around.

van_persie

lotus76 wrote: »

We bought a place last month at full asking price, as did one of my work colleagues (Kingston upon Thames area). Please don't flame me, it's my first post!

Not wishing to 'flame' you, but do you now think paying full asking price may have been a mistake as prices peaked and are now falling? Or do you think prices will miraculously bounce back in the Spring and you're glad to have gotten on the 'ladder?'

SurreyNotSorry

1973, 1989, 2007.
Top of house price inflation. Post 2005 this HPI became a speculative bubble. Buy to letters last year accounted for 44% of all new mortgages, waging their "property empires" of very common 1-2 bed flats. People living in larger more established houses have "released" their equity, and effectively bought on credit. UK Debt is at £1.3 trillion. Inter-bank lending rates (LIBOR) have gone through the roof, the banking system is broken. It's not the same as last time, it's worse.

No offer is a silly offer, if you don't remember last time google it. In 6 months time the offers will be lower, much lower.

Your "sale price" is illusiory. Your house will only ever sell if someone is willing and able to pay for it - lenders are no longer lending at massive multiples to sub-prime borrowers. Prices are set at the margin, ie, if an identical house down the road goes for -20% less, it sets the marker value.

If you are selling at -20%, buy at -25% !!!

andysstuff_2

johnny_storm wrote: »

Yes, a lot of people still seem to think prices only go in one direction. Its remarkable that people hate inflation in all things except property, and want low interest rates despite the fact it devalues money (savings, pensions etc) during high inflation.

Maybe now house prices are falling, the government'll add it into official inflation figures to keep'em looking low!

wellandpower

LizzieandThomas wrote: »

have heard from a few friends who have had really low offers and i have too, ok so the market is slow but what makes people think we will give our house away !!!!!!

im on at 140k (under recommended price), been on 4 days and got a stupid offer of 115k !!!!!!

Hi Lizzy,

Ive only just registered and I will tell you that I am from housepricecrash.co.uk as well, so I am bearish on property at the moment. I have however sold my own place about 18 months ago to Sell-To-Rent. I put my house on the market and regardless of what price you choose people will only choose to pay:
1) What they feel it is worth and
2) What they can afford.

You however need to remember you only need one buyer. I think most properties get offers at some point well below the asking price, I know I got several 15% below.

If your property has only been on for 4 days, don't worry plenty of time yet! There is no harm in waiting a while, 4 days is not enough. I think my 8th offer was the one I accepted.

Yes I think the market is falling and it is certainly true that it is not a good idea to chase it down, however if you have an offer of 115K, then I would say this is a pretty safe backstop and i feel even in the falling market you might be unlucky to get this (certainly if you are planning on accepting an offer within 3 months).

So don't worry about it, ignore the offers if its not what you want and wait a little if you are not desperate to sell. If you have 10 offers in three months time around this level then you will know your posistion, if you have a higher one in the meantime then you will be OK!

Have a nice christmas btw :beer:

Phirefly

andyyorks wrote: »

Would you post a link to your house if you'd had this type of response to a perfectly reasonable question? I wouldn't.

No me neither but I thought if I asked really nicely....

lotus76

van_persie wrote: »

Not wishing to 'flame' you, but do you now think paying full asking price may have been a mistake as prices peaked and are now falling? Or do you think prices will miraculously bounce back in the Spring and you're glad to have gotten on the 'ladder?'

None of the above really - we're buying a house to live in and won't need to move for the next 15 years, so I don't really mind if prices fall. Don't really see it as a ladder. We just saw a place we loved for a good price, and are only paying a bit more on a mortgage than we were renting.

Saying that of course I'll be gutted if prices fall 30 - 40% because then we could have got a similar place cheaper. But I don't have a crystal ball unfortunately...

johnny_storm

Imelda wrote: »

We put ours on at the weekend for £250k, had an offer today for £235k, said we will split the difference (ie 242.5k) and just waiting to hear back.

Other flats in the same block (ie identical size and layout) are on for £260- £265k, I think they are in cloud cuckoo land....

The reason we are selling is that it's a one bed flat and a bit too small for 2 people. Although we are happy there now we'll probably want somewhere bigger in the not too distant future and would rather sell now than wait a while and be unable to sell at all.
We've made a decent amount on the property and don't need to be greedy, we would just prefer to sell it someone who's not going to mess us around.

=> £242k for a one bedroom flat, now that is cloud cuckoo land! :rotfl:

lotus76 wrote: »

Saying that of course I'll be gutted if prices fall 30 - 40% because then we could have got a similar place cheaper. But I don't have a crystal ball unfortunately...

Or a bigger place for the same money!