Would you say 15% under asking price is fair to offer...?

Treadmill

I'm not loaded mate, I just think that somebody who persistently bids below what they know will be accepted is a timewaster.

sparklycat

We are going to look at a house today which is on the market for 245,000.It is in a road where houses don't come up very often e.g last house sold in 2006.
It is a lovely 4 bed with a garden that backs onto fields etc. We know they were orginally selling for about 60,000 10 years ago. We really like the look of it and know the area well. If we like it as much as we think we will we shall put in an offer of 225,000. Some people might think this is silly but we have cash and no chain. We shall offer a bit more but as previously said, don't ask don't get.

I think some people are now getting greedy as asking prices in some areas are still high for what they are, there seems to be such a variation too. E.g one road locally has a house for sale at 179,000 , house opposite up for 164,000?house for 164,000 is more modernised whilst the other supposedly has a 4th bed(more like converted cupboard!)and is dated. Also max price on this road previously has been 165,000.

Our area has actually had a 1% increase so far this year(apparently)but all i see is prices going down, mainly ones that have been on market for while and were probably overpriced anyway.

bryanb

Only 7 pics and 3 of them show the grass outback! Not to worry the OP has gone away.

mwhitt

ea was on the phone today after viewing lots at the weekend, 2 we liked both reduced to 300k for a 4bed detatched both opposite each other highest price recorded in road was 320 , ea was in agreement that the market is tough so i should offer 290k which she thought would probably be accepted.. i passed she said well what can you afford to go up to i said 320k but doesnt mean i am going to . i am thinking about offering 250-260 in a week or 2 ,i want to see halifaxs & nationwides aprils data 1st as looking at yoy there were some bigish numbers upwards 10-12 months ago that will be starting to drop out thus making current yoy a lot lower than now unless sold prices shot up of course .
oh is in a huff though as she seems to want to rush into it & i am being a lot more cautious

zippygeorgeandben

All this talk of house prices is giving me a headache!

My partner and I really want to move out of our flat we're renting. We're 28 and 29, earn satisfactory salaries (well I don't think they are that bad) and are having to move out of London to afford a property! I must think about House Prices everyday.

if it wasn't for this site and everybody's opinions, I would feel totally lost so I appreciate everyone's opinions.

Thanks,
Ben

kingkano

Taking the analogy somebody else used - what would happen if you went into a car dealership and said that new car I want is going to fall 50% in the next year, so I'll offer you 50% of your RRP? Id imagine you'd be escorted out by lumpy men in suits.

You can't base your offer on the future price of something. It would be anarchy if you could. Petrol stations could start charging you £2 a litre now instead of the end of the year.... etc etc etc.

15% below the asking price would not be unreasonable at all, but people aren't yet sure if prices will drop this much, so its quite likely they won't accept unless they need the cash quickly. I'm afraid the general public at large still believe 5 or maybe 10% off depending on the actual asking price, is a reasonable offer to consider. Otherwise they quite often can't proceed with these low offers people on this forum think are reasonable, and will just stay where they are.

geoffky

The key is finding the people who have to move and using it a a bargaining chip.. the one i am after is emigrating and i know the visas run out in September....

gizzmo_2

Look at Zoopla - it is a website that looks at the property prices plus lets you plug in specific details of the property and then provides an estimate based on current prices. I have found it useful to compare against houses that I have been looking at. The link is www.zoopla.co.uk
So far it has seemed pretty spot on - but it is a beta site so it isnt tried and tested. Does give a fair idea though.