Can anyone help re: house price increases please?

lookstraightahead

I totally ignore offers over and offer what I can afford. If they don't accept I walk away, leaving the offer on the table.

It's pointless trying to speculate (especially when houses are put on for whatever the vendor fancies) so just offer what you're happy with.

MikeJXE

Where I live East Midlands Rightmove 50% house prices £400,00  - £500,000 are reduced , the same goes for rentals in my area 

Sunsaru

Zoopla estimates are as rough as sandpaper on a cold sore. That's why they provide 3.

topgearfan08

LicoriceStick said:

theoretica said:

LicoriceStick said:

 How could I find out how much house prices have increased (or not) on average since September? 

What does Zoopla suggest for a value of the 427k house?  Their algorithm is more than just average house price change, but if they have an estimate it is an easy piece of data to get.

Last week Zoopla estimate for the 427k house was 419k.  It updated at the weekend and it is now 444k

zoopla estimates are absolute rubbish. My neighbours house valued at 130k, sold for 600k....   

gwynlas

Check out the advertising estate agents for length of time properties listed and whether reduced after listing. You can also check if the EA  values at levels alongside other local agents by comparing like houses for sale across agents. Sellers expect their properties to have increased since purchase as that is the path houses have been on until recently. Offers over is a marketing ploy to encourage higher bids which is fine in a rising market but meaningless in falling or stagnant markets. EAs still need and want to sell to earn their commission and can talk sellers into accepting offers under if that is the only offer on the table.

TheJP

lookstraightahead said:

I totally ignore offers over and offer what I can afford. If they don't accept I walk away, leaving the offer on the table.

It's pointless trying to speculate (especially when houses are put on for whatever the vendor fancies) so just offer what you're happy with.

This process gives you an idea in terms of the thought process of a seller. If you aren't going to offer over then look at a different property. This is the equivalent of a tire kicker looking to buy a car that they don't have the funds/wont pay the asking price for. The headers are there for a reason, they highlight who you are dealing with, the value they feel the house is absolute and gives you an idea as to how you structure your offer based on how much you want the house and what you can afford.

[Deleted User]

lookstraightahead said:

I totally ignore offers over and offer what I can afford. If they don't accept I walk away, leaving the offer on the table.

It's pointless trying to speculate (especially when houses are put on for whatever the vendor fancies) so just offer what you're happy with.

I know a BTL investor who adopts something akin to your approach. Of all the properties where he makes a cheeky bid, he completes 1 in 20.

However, when it comes to a single residential purchase of my own home, I would not be messing about with ridiculous low offers. I wouldn't prioritise a bargain, thereby missing out on all my preferred properties.

lookstraightahead

TheJP said:

lookstraightahead said:

I totally ignore offers over and offer what I can afford. If they don't accept I walk away, leaving the offer on the table.

It's pointless trying to speculate (especially when houses are put on for whatever the vendor fancies) so just offer what you're happy with.

This process gives you an idea in terms of the thought process of a seller. If you aren't going to offer over then look at a different property. This is the equivalent of a tire kicker looking to buy a car that they don't have the funds/wont pay the asking price for. The headers are there for a reason, they highlight who you are dealing with, the value they feel the house is absolute and gives you an idea as to how you structure your offer based on how much you want the house and what you can afford.

Well it's always worked for me. Offers over is made up nonsense in my experience. And buyers know that. 

If the buyer thinks the seller is a tire kicker, though, they don't have to view if they don't want. 

It's a marketing ploy by the estate agent. It's so obvious. And laughable. And the seller misses out if naive buyers don't take a look. 

So do you always pay forecourt price for a secondhand car? What do you think a sales team is for? 

mi-key

lookstraightahead said:

TheJP said:

lookstraightahead said:

I totally ignore offers over and offer what I can afford. If they don't accept I walk away, leaving the offer on the table.

It's pointless trying to speculate (especially when houses are put on for whatever the vendor fancies) so just offer what you're happy with.

This process gives you an idea in terms of the thought process of a seller. If you aren't going to offer over then look at a different property. This is the equivalent of a tire kicker looking to buy a car that they don't have the funds/wont pay the asking price for. The headers are there for a reason, they highlight who you are dealing with, the value they feel the house is absolute and gives you an idea as to how you structure your offer based on how much you want the house and what you can afford.

Well it's always worked for me. Offers over is made up nonsense in my experience. And buyers know that. 

If the buyer thinks the seller is a tire kicker, though, they don't have to view if they don't want. 

It's a marketing ploy by the estate agent. It's so obvious. And laughable. And the seller misses out if naive buyers don't take a look. 

So do you always pay forecourt price for a secondhand car? What do you think a sales team is for? 

A second hand car isn't a very good comparison as it's not going to go up in value if the seller doesn't sell it...

lookstraightahead

mi-key said:

lookstraightahead said:

TheJP said:

lookstraightahead said:

I totally ignore offers over and offer what I can afford. If they don't accept I walk away, leaving the offer on the table.

It's pointless trying to speculate (especially when houses are put on for whatever the vendor fancies) so just offer what you're happy with.

This process gives you an idea in terms of the thought process of a seller. If you aren't going to offer over then look at a different property. This is the equivalent of a tire kicker looking to buy a car that they don't have the funds/wont pay the asking price for. The headers are there for a reason, they highlight who you are dealing with, the value they feel the house is absolute and gives you an idea as to how you structure your offer based on how much you want the house and what you can afford.

Well it's always worked for me. Offers over is made up nonsense in my experience. And buyers know that. 

If the buyer thinks the seller is a tire kicker, though, they don't have to view if they don't want. 

It's a marketing ploy by the estate agent. It's so obvious. And laughable. And the seller misses out if naive buyers don't take a look. 

So do you always pay forecourt price for a secondhand car? What do you think a sales team is for? 

A second hand car isn't a very good comparison as it's not going to go up in value if the seller doesn't sell it...

I was responding to someone else who used it as an example