PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Another 'what to offer' thread

2

Comments

  • Scotbot
    Scotbot Posts: 1,445 Forumite
    First Anniversary First Post Name Dropper
    samsam89 wrote: »
    Called estate agent few days ago. They mentioned they've had "a bit of interest", in plots 1 and 5. The interest in those plots could well have been my other half mailing them under a different email address. EA did say there hasn't been any reservations at the present time.

    My income has gone up and we are able to roughly borrow £193k. We're definitely saving well with circa £1300 being put away this month.

    Just wondering if a cheeky offer is worth it, and at what price point.. hmmmm.

    It is always worth a cheeky offer, the worst they can do is laugh and say no.If interest rares increase and they have plots left they may come back to you next year
  • ReadingTim
    ReadingTim Posts: 3,970 Forumite
    Name Dropper First Anniversary First Post
    I doubt the developer would negotiate much, if any, on price so early into construction, even if they are the last remaining plots. If anything, the price is likely to go up as buyers can see the finished, or near-finished product.

    You're only likely to get much of a reduction once they've been finished and stood empty a while, ie the last remaining plot or two, which they're trying to sell in time for their financial year end.

    An offer now, even at your max price would probably be a waste of everyone's time. It may prompt an EA to recommend properties more within your price range, but may also mark you out as a time-waster dreaming over unaffordable properties. If you're set on this place rather than alternatives, it's probably best biding your time just now and reassessing the situation once the build looks close to completion.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    martinsurrey wrote: »
    http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=58508458&sale=5708203&country=england

    There is a new build in Norwich that has risen by £51k in the time Crashy has been advising against it.

    edit

    4 Malthouse Drive, Hoveton, Norwich, Norfolk NR12 8GN

    06 Dec 2013 Detached, Freehold (New Build) £269,950
    11 Aug 2017 Detached, Freehold £325,000


    How much will it drop in future though? That is what you need to ask yourself if you bought in August.
  • martinsurrey
    martinsurrey Posts: 3,368 Forumite
    Crashy_Time wrote: »
    How much will it drop in future though? That is what you need to ask yourself if you bought in August.

    That is exactly what you would have said to the person buying it Dec 13, which is my point.

    If they had listened to you they would have missed out on 20% HP growth, and paid more in rent than their mortgage (due to ultra low rates).
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    martinsurrey wrote: »
    That is exactly what you would have said to the person buying it Dec 13, which is my point.

    If they had listened to you they would have missed out on 20% HP growth, and paid more in rent than their mortgage (due to ultra low rates).


    I would have said then that we were in a general bubble, and that it had to pop sometime, now I would say we are at a critical phase, Brexit alone is a sentiment game changer. Sales volumes have dropped, "20% HP growth" is meaningless if you can`t find a buyer, and the house you want to buy has also had it`s "value" pumped up by cheap money and government props. Depending on how much someone borrowed, three years paying a mortgage instead of renting won`t be much comfort if rates rise and the market/economy goes South?
  • martinsurrey
    martinsurrey Posts: 3,368 Forumite
    Crashy_Time wrote: »
    I would have said then that we were in a general bubble, and that it had to pop sometime, now I would say we are at a critical phase, Brexit alone is a sentiment game changer. Sales volumes have dropped, "20% HP growth" is meaningless if you can`t find a buyer, and the house you want to buy has also had it`s "value" pumped up by cheap money and government props. Depending on how much someone borrowed, three years paying a mortgage instead of renting won`t be much comfort if rates rise and the market/economy goes South?

    3 years ago you actually said
    Crashy_Time wrote: »
    The Ponzi is collapsing, and it feels good not to have any skin in the game.

    I don't argue with you anymore, I just use your post history to show people your long running "HPC is just around the corner", and real world evidence that you have been wrong at every turn.

    Even a stopped clock is right twice a day!
  • martinsurrey
    martinsurrey Posts: 3,368 Forumite
    edited 4 October 2017 at 2:45PM
    Crashy_Time wrote: »
    I would have said then that we were in a general bubble, and that it had to pop sometime, now I would say we are at a critical phase, Brexit alone is a sentiment game changer. Sales volumes have dropped, "20% HP growth" is meaningless if you can`t find a buyer, and the house you want to buy has also had it`s "value" pumped up by cheap money and government props. Depending on how much someone borrowed, three years paying a mortgage instead of renting won`t be much comfort if rates rise and the market/economy goes South?

    haha also from 3 years ago
    Crashy_Time wrote: »
    I don`t do predictions, but the market is at a critical point, all the daft money is in, it is just a case now of who makes it to the exit.


    Seems the last "critical phase" has lasted over 3 years.

    or was that critical phase not really critical but the one you just said is critical really is critical?
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    martinsurrey wrote: »
    3 years ago you actually said



    I don't argue with you anymore, I just use your post history to show people your long running "HPC is just around the corner", and real world evidence that you have been wrong at every turn.

    Even a stopped clock is right twice a day!


    So nobody who bought three years ago is having any problems finding a buyer to pay them more (or even the same) as they paid?
  • martinsurrey
    martinsurrey Posts: 3,368 Forumite
    Crashy_Time wrote: »
    So nobody who bought three years ago is having any problems finding a buyer to pay them more (or even the same) as they paid?

    some people are, but that is not the end of the world stuff you spout.

    you seem to think the world is full of only 2 types of people

    1) the "right" people, like yourself, who think prices will drop to 1990's prices in the next few months/years

    2) people who think house prices only rise everywhere all the time.

    when really most people on this board are pretty realistic and pragmatic, prices will rise long term due limited supply and increased demand, local markets may have bigger bumps and troughs than averages, but buying a long term home, is a good idea long term, and trying to time a crash is a fools game.
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
    First Post First Anniversary Combo Breaker
    martinsurrey wrote: »
    haha also from 3 years ago




    Seems the last "critical phase" has lasted over 3 years.

    or was that critical phase not really critical but the one you just said is critical really is critical?

    Brilliant! Not that he'll listen with those fingers in his ears.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards