Told wont accept anything less then £200k on a 200k house!

arthur_dent_2

vikingaero wrote: »

I know of 6 friends and family who currently have their homes on the market. None of them are desperate to sell because of redundancy, credit or any other drastic reason. Only 2 of the properties are mortgaged, 4 are mortgage free, 2 of them want to downsize but what they all have in common is that they want what they feel the house is worth and won't entertain silly offers given that they are not in a rush to sell.

And who can blame them for not selling low if they don't need to. It appears to be the opinion of some that if your asking price is £100,000 you should accept £50,000 and grovel at the buyers feet.

brit1234

spurs_nut wrote: »

ARRRRRRRR, BOO HOO HOO!

Ain't they conforming to your HPC theory?

Diddums.

No they simply won't sell at all. They will soon realise that they have to drop the price even further to sell as time goes on. The lending is just simply not there to support todays well overvalued market.

As for people in no rush to sell, then why go to all the expense of putting it on the market in the first place. I don't believe that for a minute.

We are looking at 40-50% falls over the next 3 years, possibly sooner.:T

arthur_dent_2

brit1234 wrote: »

We are looking at 40-50% falls over the next 3 years, possibly sooner.:T

That may well be the case, but if you are looking to buy now that does not automatically entitle to you that discount because it may (probably will) happen.

vikingaero

arthur_dent wrote: »

That may well be the case, but if you are looking to buy now that does not automatically entitle to you that discount because it may (probably will) happen.

I agree with you Arthur. We're in the first phase of any real meaningful drop in property prices and a lot of buyers seem to be forecasting total impending doom and want the full monty now.

payless

some people want to sell, other people need to sell- its the latter that will look at offers.

House sale prices have fallen again, but its based on a much smaller numbers- ie mainly those that need to sell , in turn thats those likely to accept lower offers, in turn the "house price average" is based on these desperate sellers

thriftybabe

PRINCESSKERRY wrote: »

Hello

Thought I have to post as there are lots of people out there who are not even considering reasonable offers let alone low ones.
Twice now I have had offers rejected on different houses, both overpriced with no offers and been on the market for over 6 months.
One has just two weeks ago took a price drop from 220k to 209k, the other house is still at 215k.
We are talking about offers around 193k but they wont even consider it despite work needed on there houses.
Felt I had to post as it feels like I'm banging my head against a brick wall and from talking to the estate agents too they are feeling frustrated too as both times they have stayed way past closing thinking we could agree a price only for the vendors to not budge.
I appreciate people dont have to accept lower offers but realistically if they want to sell they shouldn't be dismissing them so quickly.
A house two doors away from the house at 209k sold in september with the same agents for 195k and they agreed with me the market hasn't gone up since then but down so why the vendors are not considering offers around that level is crazy to me. But to go higher. :mad:
What annoys even more is we took a 8% drop on our house and secured a sale within weeks.
At present I feel we are going to have to pay close to someones asking price to secure a property when we took the drop on ours.
Renting isn't a option either as OH really doesn't want too and realistically OH's wages are the best they have ever been so buying makes more sense.
Opinions are welcome.

Some people! They will still be sitting on their houses in 6 months and by the time you will have found another house. You will be sitting back being smug when they have had to drop their prices lower than you offered. Have seen it happen first hand!

narced

PRINCESSKERRY wrote: »

Hello
Renting isn't a option either as OH really doesn't want too and realistically OH's wages are the best they have ever been so buying makes more sense.
Opinions are welcome.

Renting should be an option, we did this in the 89/90 crash and it makes sense in a downward market. Whatever you think about buying if you buy right now you are going to lose money in the short term. It makes no difference what your OH earns... would you feel OK about the house you just bought going down? House prices are double the long term sustainable average.

SquatNow

Remember that in a crash most of the sellers chase the market down... only a few get what they hope for.

geoffky

The thing is the ones who are accepting lower offers are bringing the house prices down in their area as thats how the next ones will be valued....

bo_drinker

Around here some are selling if they are in a sought after area and have no issues and everything going for them. And another house 100 yds down the road does not sell as it may have issues. All of them would have sold 12 months ago. I would guess the ones that are selling are for the asking price as well, but it's not many. Had ours on 8 months now, considering putting it in the paper for a lower price then if no joy in a month the board comes out of the ground.