HouseDog Posted October 14, 2010 Posted October 14, 2010 Well worth a quick read. http://www.mumsnet.com/Talk/property/1027378-Is-anyone-else-having-a-misreable-time-trying-to-sell?pg=2 Quote
Kyoto Posted October 14, 2010 Posted October 14, 2010 Well worth a quick read. http://www.mumsnet.com/Talk/property/1027378-Is-anyone-else-having-a-misreable-time-trying-to-sell?pg=2 I could really see a market like this tipping into capitulation. There are thousands of people wanting to sell, for it to 'return to normal' Fortunately, I just can't see any upwards movement in prices on the horizon. 2007 prices were at the peak of a huge bubble and now there is nowhere the government can go to stimulate the housing market. More importantly, political will to do so is ebbing. Slowly slowly, people will start to accept it and one day, I can see falls picking up the pace as pent up demand to sell is released. Quote
Kyoto Posted October 14, 2010 Posted October 14, 2010 LOL - have to laugh at the agent here. mousey, I disagree. Agents are massively overvaluing houses here just to get the business.I viewed a house a few weeks ago by a man who owned the estate agency who said that it hadn't had any offers on it yet because the asking price was too high hmm. When I asked him what valuation he had given them he remained silent! Quote
Charlie Don't Surf Posted October 14, 2010 Posted October 14, 2010 Mumsnet does seem to be a good barometer to what we are up against! Quote
erranta Posted October 14, 2010 Posted October 14, 2010 They're so quick to blame their other half when it all goes shit on 'em: I think last decade housebuyers are going to find out how much their houses are really worth, with 10's thousands of EA's on the breadline and trying to keep their shops open by the tips of their fingernails. The 'wideboy' EA's selling since 1998 will go first - coz they only know how to price upwards! And it only gets worse coz all the FTB professionals and others have hoooooooooge education debts + no deposit and banks have created a mortgage drought. It's a perfect storm! Houses/flats will be back down to 2x local income in many places - coz thats all FTB grads will be able to afford. Otherwise nothing sells for 15 years till they get a deposit together/pay off the grad debts/get promoted Quote
goldbug9999 Posted October 14, 2010 Posted October 14, 2010 Personally, I think our house has been overvalued, and equity in a house is worth diddly sqat unless you are downsizing, have inherited a house or it is an investment property. Very few people actually benefit from rising house prices. We all should know now that taking equity out of your house to finance an exotic holiday etc is not a great idea. F*ck me a woman capable of actual logical thought !!. Quote
Jester Posted October 14, 2010 Posted October 14, 2010 The thread makes sad reading in some cases to be honest. these are real people with children looking to find a home. Having said that sometimes people need to be more realistic. I do feel a bit sorry for those who bought at the peak of the market alothough the drop was predicted. I have a problem with my own adult children who see house purchase as a way to make money. Anyway I wish all at mumsnet all the best for their futures. Having said that I can't see the housing market improving anytime soon. Quote
DabHand Posted October 14, 2010 Posted October 14, 2010 My favourite. MixedupMartha Wed 08-Sep-10 15:00:28cheek of it! Don't accept under any circumstances! Except in circumstances that involve you actually selling the house maybe? Enjoy chasing the market down, ladies. Quote
Bloo Loo Posted October 14, 2010 Posted October 14, 2010 snip. Having said that I can't see the housing market improving anytime soon. you see, the market IS improving with every drop...every move becomes cheaper, every £ saved can go in the real economy.... Quote
goldbug9999 Posted October 14, 2010 Posted October 14, 2010 all the first time buyers seem to think us sellers are "greedy" with our asking prices from what I read on certain forums I wonder to whom thy are referring ...ehem ... Quote
goldbug9999 Posted October 14, 2010 Posted October 14, 2010 I can also assure you that most 'renters' are not just waiting till people like you get desperate ... Weeellll, yes we are actually Quote
erranta Posted October 14, 2010 Posted October 14, 2010 (edited) The thread makes sad reading in some cases to be honest. these are real people with children looking to find a home. Having said that sometimes people need to be more realistic. I do feel a bit sorry for those who bought at the peak of the market alothough the drop was predicted. I have a problem with my own adult children who see house purchase as a way to make money. Anyway I wish all at mumsnet all the best for their futures. Having said that I can't see the housing market improving anytime soon. The whole of the UK have been taken for a ride(devlish) and lured by the City/Govt /Financials into GAMBLING with the roof over their heads! They have to take the losses as well as the gains - it is far better that a house is just somewhere to live in - not an investment. It's to all our advantages (not the banksters) People should be extremely angry about how they have been lured into this mess with false illusions of wealth - while the real wealth is taken out by higher commissions/up front fees and exponential interest by the banks/other financial vi's. Edited October 14, 2010 by erranta Quote
Jester Posted October 14, 2010 Posted October 14, 2010 you see, the market IS improving with every drop...every move becomes cheaper, every £ saved can go in the real economy.... I'm sorry Bloo you're quite right. I actually meant that they're not going to sell their houses. I've told all of my children to put off buying for a while. My son is living with me at the moment and will buy sometime (not soon). My eldest is renting and is watching prices fall. She's not stable (workwise) yet and so doesn't really want to be burdened with a house that might not sell. My youngest is still at uni but does want to buy when the time is right. I rent too. I might buy a house (again) one day. Quote
BuyInOxford Posted October 14, 2010 Posted October 14, 2010 (edited) wiltsmum Wed 08-Sep-10 14:40:38 Hello all! Guess what-we had an offer, but it was so low (310k) for a house valued at 399k. Whilst we want to sell, we paid £325k in Dec 07 and have spent 40k renovating. MixedupMartha Wed 08-Sep-10 15:00:28 cheek of it! Don't accept under any circumstances! Now i was going to comment about marthas wondeful advice .... but then Cretaceous won the prize for coming up with an idea that will fool just about everyone. Cretaceous Wed 08-Sep-10 20:09:54 Roseflower - you mentioned you had a three-bed semi, and viewers were complaining about the tiny third bedroom. We got the same comments when we put ours on the market. I rearranged the (very small amount of) furniture in the third bedroom to make it look bigger, and no-one else mentioned to the agents how small it was. Worth a try. Edited October 14, 2010 by BuyInOxford Quote
middleway Posted October 14, 2010 Posted October 14, 2010 Eventually people have to get on with their lives Chap at work owns a city centre flat in leeds bought in 2007 girlfriend now pregnant and is having to rent elsewhere can't or won't sell for a loss so renting out the flat they own another girl at work MEWED up to the hilt and moved mortgage to IO to reduce monthly outgoings, was shocked when i told her that the lender is unlikely to roll over her IO deal when it comes to an end next chap at work seperated from wife, house needs divvying up he in turn is renting a house which the owners have on the market for sale simultaneously because they can't sell it i could go on and on.. the fact that so many people "cant afford" to sell at any price just means over time the number of prople who need to move just builds up and up, this probably means the drop after any tipping point will be violent IMHO there is a mighty head of steam building up, Quote
Bloo Loo Posted October 14, 2010 Posted October 14, 2010 I'm sorry Bloo you're quite right. I actually meant that they're not going to sell their houses. I've told all of my children to put off buying for a while. My son is living with me at the moment and will buy sometime (not soon). My eldest is renting and is watching prices fall. She's not stable (workwise) yet and so doesn't really want to be burdened with a house that might not sell. My youngest is still at uni but does want to buy when the time is right. I rent too. I might buy a house (again) one day. TBH, we are really spoilt with our rental...horses in the field behind, large rooms, new double glazing.....buying is going to be a real letdown when...if..we decide to do so. its the young ones...and of course, they just see the prices and think they are engraved in marble....they are not....I tell them, but they think its ME thats stoopid. Quote
goldbug9999 Posted October 14, 2010 Posted October 14, 2010 OMG I've just read the BBC news and houses have dropped in value -3.6% in ONE BLOODY MONTH. It's the biggest drop since records began. My sister was going to put her house on the market after christmas. I've just phoned her up and it'll be on the market (hopefully) within the next week. Hold strong ladies but think carefully before you reject an offer on your house just now. Who says there wont be any panic selling ? Quote
Bloo Loo Posted October 14, 2010 Posted October 14, 2010 artyjools Tue 12-Oct-10 14:26:11 'The thing is, if we take our house off the market and others have a similar mindset to ours, then there will be a shortage of houses which will....guess what.....push house prices up. So all of those sitting around waiting for house prices to plummet might be in for a shock!' oh dear................ perhaps you should log in and post up the link to the Austrian Bust phase lecture. Quote
goldbug9999 Posted October 14, 2010 Posted October 14, 2010 OH bought our house in 2007. We are screwed! Darwinism at work. Beautiful aint it. Quote
Executive Sadman Posted October 14, 2010 Posted October 14, 2010 There are still buyers out there. A friend of mine recently dropped near £400k buying a house. He still seems adamant property is a one way bet. This despite the fact that his last house was bought at the 2007 peak, and he full well knows he wont get anywhere near peak price for it in this area. He decided to rent it out instead to migrant workers. Luckily for him he's earning good money, likely to go up and has family acting as a mortgage facility. (earning £45k or so a year). No idea of his cash position though. Unfortunately for sellers, buyers like him are very much in the minority. Quote
erranta Posted October 14, 2010 Posted October 14, 2010 (edited) ' Mooos Thu 07-Oct-10 09:09:00 OMG I've just read the BBC news and houses have dropped in value -3.6% in ONE BLOODY MONTH. It's the biggest drop since records began. My sister was going to put her house on the market after christmas. I've just phoned her up and it'll be on the market (hopefully) within the next week. Hold strong ladies but think carefully before you reject an offer on your house just now.' is that the sound of a penny dropping I hear or could it be a HPCer trolling. What's that I hear - renters are making £250 PER DAY coz that's a £7,500 drop in ONE MONTH on the average house! The tide has turned = will the lousy Govt plug the leaking dam with yet more taxpayers money - like labour did 3 yrs ago? Another part of the equation is that most of the 'Futurists' are talking about interest rates going back to their NORMAL 8-10% WITHIN TWO YEARS! People will offer EVEN less for houses - due to mortgage/interest affordability! Edited October 14, 2010 by erranta Quote
DeepLurker Posted October 14, 2010 Posted October 14, 2010 Just found this at the end of the Mumsnet thread: New here, so, hi. I'm looking to buy a home but prices are way, way too high compared with average salaries. So, I'm just sitting in the wings for now. Think I'll grab some popcorn and sit down to watch the fireworks Quote
Si1 Posted October 14, 2010 Posted October 14, 2010 with amazing location/views oooh amazing location and views. inner city tower blocks have amazing locations and views. the chilean miners trapped underground had an amazing location and views. Quote
Jester Posted October 14, 2010 Posted October 14, 2010 TBH, we are really spoilt with our rental...horses in the field behind, large rooms, new double glazing.....buying is going to be a real letdown when...if..we decide to do so. its the young ones...and of course, they just see the prices and think they are engraved in marble....they are not....I tell them, but they think its ME thats stoopid. LOL it sounds to me like you have similar problems that I have. My children think that I'm stupid but deeeeeeeeeep down they know that I'm not. I just say what they don't want to hear Quote
blackgoose Posted October 14, 2010 Posted October 14, 2010 (edited) Just found this at the end of the Mumsnet thread: Think I'll grab some popcorn and sit down to watch the fireworks Respect to the HPCer who posted that message on mumsnet Edited October 14, 2010 by blackgoose Quote
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