Just been to view a house...

jamtart6

..in a brilliant area, lovely well kept road....went up last week for sale at £160k. It is a 3 bed semi, small conservatory, 2 recepptions, might need a new bathroom.

Others in a 1 mile radius are up for the same or £10k less, but it is in a lovely road.

So the EA said this morning, one low offer has gone in but that buyer would be willing to give the asking price....and 2 more said they were going to make offers, and the envisaged it would be sold by the weekend.

My point is...that house will sell for minimum £158k.....so are house prices really falling??

dannyboycey

jamtart6 wrote: »

My point is...that house will sell for minimum £158k.....so are house prices really falling??

Will it? Really? I bet it's still there this time next month.

consnmattsmom

In my area more and more sold signs are starting to appear. I have the monthly email that tells you how much properties have sold for and I havent seen much change in prices around here.

Maybe some areas are worse hit than others.

Snooze

jamtart6 wrote: »

My point is...that house will sell for minimum £158k.....so are house prices really falling??

Yes, because there are only a limited amount of idiots happy to pay full whack for houses in a rapidly falling market and once they're all out of the way no-one will be buying til the market recovers, hence falling prices.

Rob

neas

so you believed the estate agent?

one born every day :P

m00m00

jamtart6 wrote: »

..in a brilliant area, lovely well kept road....went up last week for sale at £160k. It is a 3 bed semi, small conservatory, 2 recepptions, might need a new bathroom.

Others in a 1 mile radius are up for the same or £10k less, but it is in a lovely road.

So the EA said this morning, one low offer has gone in but that buyer would be willing to give the asking price....and 2 more said they were going to make offers, and the envisaged it would be sold by the weekend.

My point is...that house will sell for minimum £158k.....so are house prices really falling??

what would this house have sold for 6 months ago, pre mortgage rationing ?

is the real answer to whether prices are selling

of course properties priced realistically for their area will continue to sell, the issue is where the realistic price level is at.

mystic_trev

Well the 'Crash' hasn't really started yet, just stagnation with falls in some areas. In fact prices are still rising in Scotland, just as they did prior to the last crash. Another three of four months before we start seeing a major drop in prices. IMHO

jamtart6

I do believe the EA (! i know i know!) as she knew I wouldn't be able to offer £160k, so we are definitely out of the running as I'd only offer £150k max!

m00m00 - 6 months ago it would have sold for £160k-£165k

Snooze - A good point actually. I'm in 2 minds about whether to buy one to do up (not for profit) and have a low mortgage or just wait!

Dannyboycey - If thats there by the end of the month, I'll eat my hat and send you fifty quid. Of course I won't really but I think it will be snapped up asap! I will keep you posted!

Treadmill

A house is worth what somebody is willing to pay for it, not everybody is anal about every decision. If seems fair value there are people that will buy regardless of where the market is going.

glen8

I have to agree with the comments above

I have also seen loads of sold signs going up around my area. Very surprised!

dubsey

This area has sold signs going up - but then within a few weeks they are for sale again. Sometimes a new property comes on and I can easily say to DH that it will sell because of the area + price, but even some of those have returned as for sale.

DH has told me to stop being so obsessed and clean the house/do the ironing/visit friends, generally get a life