Fantasists?

mi-key

[Deleted User] said:

A lot of people thought they were getting rich and are now reluctant to lower prices to realistic levels.

Make realistic offers. They can only say no, and they might realise that they are being silly.

Sadly that isn't ( and never had been ) how the housing market works. 

Realistic is whatever a house sells for. If buyer A comes along and decides it is 25% overpriced, but buyer B comes along the next day and pays full asking price, then who is right?  Has A missed out by being unrealistic, or has B been ripped off and paid too much? 

People buy a specific house for all sorts of reasons and I bet the vast majority of buyers never look at what a house has sold for in the past. 

Most people by a house as a home to live in, not something to look at figures on bits of paper to see how much they have saved or could have saved. 

ReadingTim

[Deleted User] said:

Make realistic offers. They can only say no, and they might realise that they are being silly.

But too many rejections of your "realistic" offers, and maybe it's you who's being silly...

mark_cycling00

A quick online look at chalford explains that it's in the "golden valley" between Stroud (recently named best place to live in UK) and Cirencester (Roman capital of the Cotswolds)

Basically super trendy. Trains are just over 1hr to London and the Elizabeth line has recently opened connecting paddington to the city and canary wharf in just a few minutes. 

I don't think this is really an area for struggling first time buyers. It's where actors, fashion designers and even California tech billionaires buy homes.

Cirencester centre is strangely good value considering, and the upgrade to the dual carriageway road to the M5 will make it much more desirable.

Also cam/dursley is good value and a very attractive place to live.

jimbog

rigolith said:

Make realistic offers

I  agree.

OP, make only realistic offers otherwise you'll be labelled as a time waster. Focus on what it's worth today rather than what somebody paid for it in the past. 

RelievedSheff

Postik said:

RelievedSheff said:

What a house sold for two years ago is completely irrelevant to what it's value is now.

It's sad but true.  Even second hand cars are worth more now than they were two years ago!  Says something about the state of our "economy"

We bought a 2.5 year old motorhome two years ago.

It is now worth 25% more than when we purchased it. (Which is largely irrelevant as we have no intention of selling it)

As I said in my previous post. It is useless looking at what someone else bought something for because that bears no relevance to it's current day value. That's the same for property, vehicles, boats etc.

Emily_Joy

mark_cycling00 said:

A quick online look at chalford explains that it's in the "golden valley" between Stroud (recently named best place to live in UK) and Cirencester (Roman capital of the Cotswolds)

Basically super trendy. Trains are just over 1hr to London and the Elizabeth line has recently opened connecting Paddington to the city and canary wharf in just a few minutes. 

I don't think this is really an area for struggling first time buyers. It's where actors, fashion designers and even California tech billionaires buy homes.

Cirencester centre is strangely good value considering, and the upgrade to the dual carriageway road to the M5 will make it much more desirable.

Also cam/dursley is good value and a very attractive place to live.

Am I missing something? Chalford is not on the rail line, it is nowhere close to Reading where Elizabeth line currently ends, and google maps suggests 2 hours to London by car or 3 and a half hours by train.

[Deleted User]

RelievedSheff said:

Postik said:

RelievedSheff said:

What a house sold for two years ago is completely irrelevant to what it's value is now.

It's sad but true.  Even second hand cars are worth more now than they were two years ago!  Says something about the state of our "economy"

We bought a 2.5 year old motorhome two years ago.

It is now worth 25% more than when we purchased it. (Which is largely irrelevant as we have no intention of selling it)

As I said in my previous post. It is useless looking at what someone else bought something for because that bears no relevance to it's current day value. That's the same for property, vehicles, boats etc.

My motorhome, purchased in 2014 is currently worth around 25% more, despite me taking the mileage from 7,000m to 47,000m.

On other forums I see similar comments about motorhomes being overpriced, often with an underlying resentment towards buyers/sellers who are just getting on with life rather than sitting on the sidelines.

The housing market shows remarkable similarities...

diystarter7

jimbog said:

rigolith said:

Make realistic offers

I  agree.

OP, make only realistic offers otherwise you'll be labelled as a time waster. Focus on what it's worth today rather than what somebody paid for it in the past. 

Hi
I disagree. You can make what are deemed by some as silly offers but as long as you have and are intending make a reasoble offer, it is worth going for it especially if a place is chain free. We've done it at least 3 times. Not once was the intally offer accpeted but the 2nd or the 3rd one was. When we made a second offer for the house we live in, it was a final offer but the sellers still wanted mre and we liked the house and had every intention of increasing it. The seller came back with a revised lower pracice annd we made an absolutely last offer telling the EA to tell the seller we have another proerty that we were going to offer on  and it worked

If anyone buying is a FTB or cash, ready to go buyer with nothing to sell and buying a chain-free place, always go for a silly offer.. EA's can tell if you have the money and will be buying. I guess developers get EA's fed up but not those that rarely buy a proerty or like us but one every 2 years or previous history.


Thnaks

fackers_2

FlaatusGoat said:

Continuing my house hunt, I've broadened my search criteria for properties up to 350k out of curiosity. What really raises my eyebrows and I don't know if it's specific to this area is the amount of properties I'm seeing that were recently bought circa 2021ish and are up for sale. Plus an extra 100K?!

Someone who's more knowledgable than me please educate me. Are we dealing with vendors who are complete fantasists or am I the dreamer? See below examples.

https://www.rightmove.co.uk/properties/128663483#/?channel=RES_BUY

No obvious work done.

Next example

https://www.rightmove.co.uk/properties/130008986#/?channel=RES_BUY

Up 80k with no obvious work done.

It’s hard but the more you dwell on it the chances increase of you missing your perfect home. 

Stroud is a bit compact and parking on narrow streets. Viewed one before and it put us off before even seeing the property. 

Skiddaw1

That first wee house is gorgeous....