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

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Comments

  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Some mates of mine put their 3 bed house in East London on at £290k a week ago, and have had 2 offers for £240k and £245k.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • lotus76
    lotus76 Posts: 11 Forumite
    Part of the Furniture First Post Combo Breaker
    dannyboycey wrote: »
    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.

    It's really nice that you're all so concerned about me!:j Bless.

    We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?
  • johnny_storm
    johnny_storm Posts: 259 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    neverdespairgirl wrote: »
    Some mates of mine put their 3 bed house in East London on at £290k a week ago, and have had 2 offers for £240k and £245k.

    Its an exciting time to be alive with abig deposit :-)
  • Rover
    Rover Posts: 323 Forumite
    andysstuff wrote: »
    Maybe now house prices are falling, the government'll add it into official inflation figures to keep'em looking low!

    That wouldn't surprise me. CPI's a bloody joke.
    anger, denial, acceptance ;)
  • bigjoe
    bigjoe Posts: 302 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    dannyboycey wrote: »
    bigjoe wrote: »

    At 242k, it sounds like tellytubbie land!

    What if it's Chelsea????

    People like you think you know everything when you don't even know where the flat is.
  • andysstuff_2
    andysstuff_2 Posts: 168 Forumite
    Rover wrote: »
    That wouldn't surprise me. CPI's a bloody joke.

    Isn't it just - excludes anything you are likely to buy on a day to day basis.
  • bigjoe
    bigjoe Posts: 302 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    lotus76 wrote: »
    It's really nice that you're all so concerned about me!:j Bless.

    We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?

    Not really love. A 20% drop would see you in negative equity AND minus 40k. Even I'm beginning to get a bit concerned for you.
  • Rover
    Rover Posts: 323 Forumite
    bigjoe wrote: »
    Not really love. A 20% drop would see you in negative equity AND minus 40k. Even I'm beginning to get a bit concerned for you.
    I'm abit concerned too, let's hope it's not as bad as all the financial guru's predict eh?
    Still the correction will probably bottom out somewhere ~2014, then things will pick up again - that'll be nice won't it.
    anger, denial, acceptance ;)
  • SurreyNotSorry
    SurreyNotSorry Posts: 7 Forumite
    lotus76 wrote: »
    It's really nice that you're all so concerned about me!:j Bless.

    We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?


    A fair few "knowledgeable" institutions have priced the UK at 30% inflated. The fall to mean, ie the drop to x3.5 average salary is 25% below us. During "corrections" the market will tend to be bearish and drop below the average before it comes back up. I would suspect that prices may fall to 2003 levels... and guard against that as a worst case scenario.
  • johnny_storm
    johnny_storm Posts: 259 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    The trouble with over valued markets, is they tend to over correct.

    Long term id expect house prices to go back to being 3 - 4 times average salary. (You'll probably find thats all a building society will lend u NOW)

    Average house price £230,474, average salary £26k? (not sure of that figure) thats nearly 9 times
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