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How much below asking price is realistic now?

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Comments

  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    trulysaintly wrote: »
    This malarkey is all PRESS and MEDIA LED...

    I'd see it as credit-crunch and sanity-returning led, meself!
    ...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'.
  • dopester
    dopester Posts: 4,890 Forumite
    trulysaintly wrote: »
    This malarkey is all PRESS and MEDIA LED...

    If you don't accept the 75%, then another seller on your street will.

    Thanks for a good laugh btw.

    You don't think all the property !!!!!! articles in the press and on TV contributed to anything to the 300% increase in house prices over the last decade... no of course not... that phenomenon was simply house prices reaching their true worth innit.

    Now the press reports some of the facts... (toxic instruments which funded the lending).. credit crunch outcome... house prices begin to fall from their great heights... and suddenly it's the press to blame for reporting it. Hypocritical imo.
  • trulysaintly
    trulysaintly Posts: 175 Forumite
    dopester wrote: »
    If you don't accept the 75%, then another seller on your street will.

    Thanks for a good laugh btw.

    You don't think all the property !!!!!! articles in the press and on TV contributed to anything to the 300% increase in house prices over the last decade... no of course not... that phenomenon was simply house prices reaching their true worth innit.

    Now the press reports some of the facts... (toxic instruments which funded the lending).. credit crunch outcome... house prices begin to fall from their great heights... and suddenly it's the press to blame for reporting it. Hypocritical imo.

    Thanks for your input...but as there aren't any others up for sale on my street and only one other has been put on the market since 2005, I think I know what I'm doing.....

    What fuelled the property prices was the lending of 6x and 7x incomes by the lenders - but don't be fooled by the media now that you still can't get a good mortgage deal...still if it keeps the Daily Mail in business eh?

    The credit crunch is like global warming - if something is spun enough on TV and in the Press the gullible believe....the papers will have a recession on by simply worrying people to death...

    Such as the 'offer 20% less brigade' - wake up and smell the coffee guys!

    This may work in areas of the country that have seen the biggest increases in the last 5 years, but not in areas where property prices have always been strong.....
    :A Born a Saint, always a Saint!
    I am a Mortgage Adviser


    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • trulysaintly
    trulysaintly Posts: 175 Forumite
    neverdespairgirl wrote: »
    I'd see it as credit-crunch and sanity-returning led, meself!

    Sorry but I think you're wrong on this one.

    Lenders are lending to clients, just not to anyone with a pulse any more....

    What you are seeing now is a small blip - since the NRock debarcle, lenders are already lending more than they did when that hit....

    Mind you what do I know eh???
    :A Born a Saint, always a Saint!
    I am a Mortgage Adviser


    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • jamtart6
    jamtart6 Posts: 8,302 Forumite
    I'd be mega cheeky and put in a low offer in order to haggle up! for £250k I'd offer £220k with a view to paying around £235k but then Im a FTB so what do I know!
    My friends mums an estate agent and she said this morning, they were coming down, but good areas will never 'crash'

    :ABeing Thrifty Gifty again this year:A
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    jamtart6 wrote: »
    My friends mums an estate agent and she said this morning, they were coming down, but good areas will never 'crash'

    Tell that to the people who saw huge drops in the prices in Kensington, Mayfair, etc in the early 1990s!

    I'd put £20 on your mate's mother being utterly and completely wrong. She's an estate agent, for a start.
    ...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'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    trulysaintly wrote: »
    This may work in areas of the country that have seen the biggest increases in the last 5 years, but not in areas where property prices have always been strong.....

    Like Holborn, for example?

    Just seen a drop in asking price on a house here from £750k to £675k. A year ago, that owuld have sold in days at the higher price.
    ...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'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    jamtart6 wrote: »
    I'd be mega cheeky and put in a low offer in order to haggle up! for £250k I'd offer £220k with a view to paying around £235k but then Im a FTB so what do I know!

    Offering 10% off isn't exactly cheeky by any means at the moment.
    ...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'.
  • chappers
    chappers Posts: 2,988 Forumite
    Putting a finite figure on what to offer is not possible without knowing what is going on in that area.
    Where I live in oxford there is a school catchment area which was probably one of the hardest places in the area to sell a house. Last year they announced that the schools structure was going to be completley revamped to create a centre of excellence, now you can guess the rest, houses are flying off the shelves in this area.
  • jamtart6
    jamtart6 Posts: 8,302 Forumite
    neverdespairgirl wrote: »
    Offering 10% off isn't exactly cheeky by any means at the moment.
    I've found an amazing house (rest of houses in that road are going for £240k), this one is £190k as it needs modernising but could be lived in. I'm a FTB, this is in a fabulous area, I could stay in this house for life, but it would mean using all of my savings and having a large mortgage. I want to offer £170k but the estate agents dont think the vendors will go for it, as they have reduced it from £200k. I dont know whether buying at £170k in todays current climate will be a stupid thing to do, but would it matter if I didn't ever need to move again????

    :ABeing Thrifty Gifty again this year:A
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