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

silvercar

Anyone read freakanomics?

In America, they compared attitudes of the public and estate agents. On average EAs kept their property on the market after receiving first offers for longer than the general public and achieved 3% higher prices as a percentage of market value. Food for thought?

DreamBreaker

Nicki wrote: »

A mass panic by sellers is the surest way to drive the property market downwards, and I wonder whether this is in fact what a lot of people posting on this board are in fact trying to achieve

I think you hit the nail on the head! Lizzie was just asking what offers other people are getting out of curiosity, she didn't ask to be adviced whether she should sell or not, I think people are just too quick to offer there opinion, i.e. sell your house quick as the housing market is collapsing and we are alllll goiiiingggggggggggggg to dieeeeeeeeeeeeeeee!!! Run, run for your lives I tell you!!!!

Sounds to me like it's probably just someone trying it on with a silly offer, but houses are selling more slowly these days, well, to be real, they are selling at normal rates, those days when houses were selling in hours/weeks/days were not normal!! Take your time to sell you have plenty of it, if your house price falls then the price of the one you want will also fall, you are in a better position than most!!

kingston1_2

jyonda wrote: »

Who was the agent? I know Kingston pretty well and as a historic suburb with superb shopping facilities within commuting distance of London it should be one of the last places to see big drops. Having said that it is massively overpriced! IMO.

Kingston is the same as anywhere else - the nice parts of it are likely to hold up better than the bad parts.

It looks as though the Fassett Road flat has now gone - not surprising as £200k would not normally get you a 1 bed flat there, let alone a 2 bed.

Prices in the area have definitely dropped since the summer. In the better parts of town, standard 1 bed flats were going on the market in excess of £250k, and actually selling at £245k+. Now the asking prices have dropped to £235k-£240k, and there are very few 1 bed places on at above £250k apart from over-priced new builds.

Charter Quay is in a different situation. Up until the middle of this year, the river view flats in there were going for crazy money, sellers could name their own price. If a flat has gone down in value by £100k, it is probably only back to it's 2006 level. I think the devlopment is nice (if a little noisy!).

For some reason though, developers seem to think that they can ask similar money for new flats in much worse parts of town (Royal Quarter anyone?)

Pookle

I wouldn't accept a low offer after being on the market for only a few days. We recently sold our house for the full asking price (and we were told it was overpriced) in 48 hours.

All the scaremongering going on though doesn't help as buyers will make silly offers in the hope that sellers will panic and accept it.

Some of the comments on this thread are unbelievable. I am generally giving them the benefit of the doubt and thinking that these can't surely be adults acting so juvenile.

Daddy_Bear_2

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 !!!!!!

A good friend of my parents who is a director of a large estate agent firm in Devon told my parents (who are currently renting with house proceeds in the bank) not to offer any more than 20% less than asking price. And this was several months ago.

On top of that a neighbour of my nan has just sold her bungalow for £345K (also in Devon) when it sold for £360K in 2003 (4 years ago!!!). My nan is also trying to sell but sale fell through and there's nobody else interested.

House prices are still priced in yesterdays credit market and not today's. Prices will have to keep falling.

HOORA

Daddy_Bear wrote: »

House prices are still priced in yesterdays credit market and not today's. Prices will have to keep falling.

Precisely.

A house is only worth what someone is willing (and able) to pay . Nobody puts in offers for houses they cant get a realistic mortgage on - if they can get a mortgage easily on 6x salary - they will make an offer. If they cant get a mortgage they will put on an offer on a property they can mortgage.

Some people have missed the boat with regard to the best timing for selling. Unlucky but there you have it.

If you feel comfortable waiting until you get what you feel is a sensible offer then just wait - nobody is forcing you to sell are they ? It might be several years though before you will get an offer similar to what you would have got late last year or even mid 2007.

Pookle

I must have had a very desirable house then or stupid buyers....

martinbuckley

Pookle wrote: »

I wouldn't accept a low offer after being on the market for only a few days. We recently sold our house for the full asking price (and we were told it was overpriced) in 48 hours.

All the scaremongering going on though doesn't help as buyers will make silly offers in the hope that sellers will panic and accept it.

Some of the comments on this thread are unbelievable. I am generally giving them the benefit of the doubt and thinking that these can't surely be adults acting so juvenile.

....and are you buying again?

If so, what did you offer against asking price?

Pookle

martinbuckley wrote: »

If so, what did you offer against asking price?

I didn't We are buying off family.

hierrodaknuckles

had my 1 bed flat up for sale for only 5 days before accepting an offer of 167k, it was on for 169k. The place I bought was up for 182k and I got it for 172k, so was well chuffed all round really.