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for those with there house for sale how low are the silly offers coming in at ?
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A great first post!SurreyNotSorry wrote: »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% !!!Illegitimi non carborundum.0 -
SurreyNotSorry wrote: »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% !!!
Great post. Dismiss it at your peril!0 -
Doozergirl wrote: »What a joke this board has become.
I can only see the OP asking for what offers have been made on other properties
It would have made interesting reading for anyone interested in the market but it's turned into a ridiculous slating of the OP and of course, another HPC thread.
Is there anybody here interested in answering the questions actually asked?
OP, carry on, you've done nothing wrong. Anyone is entitled to be put out by a low offer and if you don't need to move, well, sod 'em
I think you are being a bit paranoid. The title of the thread is "for those with there house for sale how low are the silly offers coming in at ?" The OP then went on to have a little rant to the effect that the wicked world won't buy 'her house' at 'her price'. It is clear that the OP was posing a rhetorical question.
What I see in the responses is genuine advice. Some suggest that she should hang on but many think she should take any offer seriously. Is that the crime that so offends you? Wouldn't you shout a warning to someone on a railway line if you thought a train was coming?0 -
..." so I don't really mind if prices fall. "
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...[/quote]
fall in house prices would leave them owing more on their mortgage than their home is worth
A fall in house prices may leave you owing more on your mortgage than your home is worth. The mortgage lender is within their right to come to you for the difference, ie the sum that their lend was secured upon. If you haven't got it they can reposses. Negative equity is not only a problem when you want to sell. I would be prepared to be gutted.0 -
SurreyNotSorry wrote: »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% !!!
Ohh no another one infesting the forum. At least now we know where the source is
I think it's time to get out :eek:0 -
johnny_storm wrote: »=> £242k for a one bedroom flat, now that is cloud cuckoo land! :rotfl:
Surely that depends on where the one bedroom flat is? So the laugh is on you. :rotfl:0 -
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johnny_storm wrote: »Surely that depends on where the one bedroom flat is? So the laugh is on you. :rotfl:
At 242k, it sounds like tellytubbie land!0 -
SurreyNotSorry wrote: »A fall in house prices may leave you owing more on your mortgage than your home is worth. The mortgage lender is within their right to come to you for the difference, ie the sum that their lend was secured upon. If you haven't got it they can reposses. Negative equity is not only a problem when you want to sell. I would be prepared to be gutted.
The way things are heading, some lenders may be forced to do this to stay afloat!!
Perhaps these people have a spare £50,000 hidden under their matresses, hence their apathetic view of the situation.0
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