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Price Drop on house I like!
chelseablue
Posts: 3,303 Forumite
Before Christmas I was in the area we are looking to buy and noticed a house with a For Sale board.
Did a search on Rightmove and couldnt find it (wasnt searching for a high enough price! :eek: )
Anyway rang the EA to find out how much : £325,000 !! This is a 3 bed ex-council house.
Got an email alert from Rightmove today and the price has dropped to £279,950.
The details say no onward chain so I guess they are keen to sell.
Unfortunatley we dont have enough saved yet but will have by June. It probably would have sold by then as it is quite a popular area
If it was still available then what price should we offer??
Did a search on Rightmove and couldnt find it (wasnt searching for a high enough price! :eek: )
Anyway rang the EA to find out how much : £325,000 !! This is a 3 bed ex-council house.
Got an email alert from Rightmove today and the price has dropped to £279,950.
The details say no onward chain so I guess they are keen to sell.
Unfortunatley we dont have enough saved yet but will have by June. It probably would have sold by then as it is quite a popular area
If it was still available then what price should we offer??
0
Comments
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why not offer what you can afford now?"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Iv'e noticed this too.
A house I viewed last week, dropped 10K yesterday. More houses in my current area are slowly dropping too. If you can wait, If as some people say houses will drop up to 35% then fantastic, if they only drop 5-8% that will help us too. Meaning we can stay in the area where we live, kids go to school etc...
If you must have that house then offer low, they look like they need to sell, from the price drop. Go in very low, and work your way up to a fair price. Remember you are in a good postion, and if they need to sell, they need you! If you don't get that house, then plently more will become available so don't overpay!0 -
I agree with Natz. What ever people say, I can show you at least 10 examples of high price cuts in a very "posh" area which according to those "experts" will withstand any falls...
Offer low and hold you nerve. There will always be other houses (and cheaper) in the coming months.Keep the right company because life's a limited business.0 -
Don't forget... as prices are dropping you might find you are able to borrow less. So it's a good idea to keep on top of "how much can I borrow?" so you're not disappointed twice.
I don't expect to buy for another 4 years. 4 years of drops/savings into the pot.0 -
Be aware that prices are likely to keep dropping for at least the next 18 months or so, if not longer. Good things come to those who wait!0
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PasturesNew wrote: »Don't forget... as prices are dropping you might find you are able to borrow less. So it's a good idea to keep on top of "how much can I borrow?" so you're not disappointed twice.
I don't expect to buy for another 4 years. 4 years of drops/savings into the pot.
Nationwide will lend us over £250,000 :eek: (at the moment of course)
Madness!0 -
I own property so I am not happy to see prices dropping. Unfortunately where I live (Leicestershire) it does seem that the market is very weak at all levels and there is no doubt that prices ARE falling. There are some detached houses in a very smart/desireable area not far from where I live and the asking prices have been trimmed by 5-10% over the last couple of months :eek: Whether prices fall by a few % or 50% during 2008 - who knows? I think its a fact that buyers are not going to lose out by sitting tight and/or putting out low offers.0
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dannyboycey wrote: »How could rising prices possibly benefit you? I'm genuinely interested.
I own several properties. I was hoping to sell out in a few years time and leave the UK. That plan may have to be put on hold if prices fall back.0 -
I own property so I am not happy to see prices dropping.
Careful when you say such things on this forum. You may get a visit from the HPC mafia;)
In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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