Miffed Vendor On Mse

[Laura]

http://forums.moneysavingexpert.com/showthread.html?t=640523

Title:- for those with there (her grammar) house for sale how low are the silly offers coming in at ?

"My house is worth what im asking , if i cant sell for a reasonable figure in this market i will just wait - what makes people think that i would be that desperate to let it go so cheap - you can not buy anything for £115,000 or £127,000 in the area i live !"

I revel in listening to folk like that. So entertaining.

Naughty me

[stew]

These people are proper numpties

[bearly hopeful]

http://forums.moneysavingexpert.com/showthread.html?t=640523

Title:- for those with there (her grammar) house for sale how low are the silly offers coming in at ?

"My house is worth what im asking , if i cant sell for a reasonable figure in this market i will just wait - what makes people think that i would be that desperate to let it go so cheap - you can not buy anything for £115,000 or £127,000 in the area i live !"

I revel in listening to folk like that. So entertaining.

Naughty me

Yeah, I was talking to a friend last night who lives in Morden about the recent downturn in hpi, and whilst he couldn't deny the latest set of figures he came up with some really amusing reasons why Morden, Liverpool (1 of his sons has a BTL there) and Fulham (another son has a flat there) could not possibly be affected by fall. He is a good friend so I just nodded and humoured him .

Deifinately denial stage IMHO.

Edited December 18, 2007 by bearly hopeful

[Lone_Twin]

Ahhh I do look forward to the daily posting from bankrupts anonymous.

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These people are proper divs, perhaps they could divert their attention from cutting coupons off cans of dog food for the half hour it will take them to read my signature one syllable at a time like a 6 year old.

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ST

Edited December 18, 2007 by Super Ted

[The Ayatollah Buggeri]

From that thread:

I know of another large house where the couple are getting divorced and the house needs to be sold as a matter of urgency. With a lot of money wasted on court cases, the judge ruled that the property should be reduced in price by 3% every month until a buyer is found!

That's my sort of judge!

[frozen_out]

She claims not to be a distressed seller, the tone of her posts suggest she's as desperate as they come.

Please tell me my house isn't falling in price.... please, please, please, pretty please. It's holding up isn't it? Please someone tell me they've had an asking price offer, go on. Pleeeeeeeeeease.

[tigsrenting]

Thanks Laura, I enjoyed that

[christhpc]

Love it! Good work Laura, MSE is the best.

Looks like this one could roll and roll. Already the MSE 'hug-crew' have stepped in to defend the OP's right to whatever house price she wants AND NO DISCUSSION OR QUESTIONING WILL BE BROOKED (or I'm telling the moderator on you) It's amazing how highly-strung some people there are.

[Badger]

Reminds me of a convo I had the other day with a colleague "So you're buying here then, not wanting to wait because of what's happening at the moment?"

"O it should be alright here (Brighton) as it's popular"

[Johnny Storm]

People still dont believe house prices will fall. I have an amateur BTL landlord in my office, and he is STILL buying nasty places to rent on interest only mortages.

That's what "people like him do you know"

His whole concept is based on his assets appreciating as he makes nothing on rental.

[Wait & See]

Next summer she'll be lucky to get 60k.

Oh well, she'll find out the hard way, like all the other maniacs, that the buyer will decide how much it's worth and make an offer accordingly.

[huw]

"My house is worth what im asking , if i cant sell for a reasonable figure in this market i will just wait - what makes people think that i would be that desperate to let it go so cheap - you can not buy anything for £115,000 or £127,000 in the area i live !"[/b]

There's the rub (and it's been examined on HPC before, when debating how quickly the market might fall). If she intends to move sideways or up, then she must sell for an amount that will allow her to re-buy into the same market. Or she could STR, but putting your home up as a stake on the HPI/HPC gaming table ain't for everyone...

As for the divorcing couple, they're idiots for not resolving things without involving the courts (though that "3% monthly reduction" order might be doing them a favour!). But the real problem is clearly that both of them married the wrong person

[Guest KingCharles1st]

My oh my oh my...

She's a woman, and she's in woman mode- I will ask all my friends- and they are my friends, so they will all tell me exactly what I want to hear.. except real friends tell you the truth.

But I don't remember her mentioning her equity, or lack of it, or what she is going to replace it with.

Maybe somebody with requisite skills could do a Youtube of stuff like this to Queens "Tie your mother down" but change it to "Chase the market down!"

[HenryWeston]

http://forums.moneysavingexpert.com/showthread.html?t=640523

if i cant sell for a reasonable figure in this market i will just wait

As if by waiting it isnt going to lose any value

[General Melchett]

I would agree with Hyacinth on one thing : It is a VERY silly offer.

Under current market condition you would be VERY SILLY INDEED to go in with anything above 60% of asking, or .6 x 140 = 84K

Sorry for the CAPS

[tigsrenting]

HPC's are piling in now.

She's 24 ffs and no doubt knows it all.

[A.steve]

As if by waiting it isnt going to lose any value

Well, you see... we disagree.

The property will *NOT* loose any *value* as long as it is properly maintained. It will remain the same property that it has always been.

The price may well plummet, but if your intention is to swap one property for another - then it doesn't matter as long as both properties devalue similarly.

Worth is not price is not value is not worth... etc.

[huw]

But I don't remember her mentioning her equity, or lack of it, or what she is going to replace it with.

Precisely, we have no idea of her situation or wider goals. It reminds me of the Germans in WW2: 'it's not fair, we've got their army surrounded and the pesky Russians still won't surrender!' -- 'it's not fair, we're in a HPC and these pesky OOs still won't sell!'

The only reason (barring forced sales) to try to sell quickly into a falling market is if you plan to cash in by exiting the market (eg by downsizing, STRing, or emigrating). Otherwise, it makes sense to sit tight until the new realities are plain to all players, including the one you end up buying from. If you're trading up, then waiting can be to your advantage because the further the crash goes, the cheaper your 'upgrade' will be.

[microbe]

Liked this from page seven of the thread (I skipped, get's tedious really)

"We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?"

[frozen_out]

This says it all for me:

Thankyou - im sorry if i have not come accross well.

I do appreciate any advice i really do but at the same time i am trying to sell my house for a price that i can afford to move on at - i dont need scaring !

Will keep you all posted.

Distressed seller 5hitting bricks. You can spot them a mile off.

[Laura]

If you're trading up, then waiting can be to your advantage because the further the crash goes, the cheaper your 'upgrade' will be.

I tried to explain the folly of the opposite to son some years ago.

The stretch has been crazy

Buys first house for £55,000

Sells for £120,000

Buys 'period' house for a 'reduced' £240,000

(After I said sell & go into Military accom.)

Triples his mortgage.

House needs work.

[Austin Allegro]

Precisely, we have no idea of her situation or wider goals. It reminds me of the Germans in WW2: 'it's not fair, we've got their army surrounded and the pesky Russians still won't surrender!' -- 'it's not fair, we're in a HPC and these pesky OOs still won't sell!'

The only reason (barring forced sales) to try to sell quickly into a falling market is if you plan to cash in by exiting the market (eg by downsizing, STRing, or emigrating). Otherwise, it makes sense to sit tight until the new realities are plain to all players, including the one you end up buying from. If you're trading up, then waiting can be to your advantage because the further the crash goes, the cheaper your 'upgrade' will be.

Tis true, but I doubt if the MSE OP sees it this way - I get the impression she genuinely believes her house has an absolute value, not a relative value - she just doesn't understand that prices can go down as well as up and thinks that anyone who believes this is 'talking the market down'.

Situations like this are likely to go on for some time. Assuming the credit taps remain dry, prices aren't going to go up, so they can only come down. I believe people are holding out at the moment because they either don't understand the situation (the OP) or they believe some miracle (lowered IRs, spring bounce, Olympics, Britain winning the Eurovision or something) will push prices up again soon.

But eventually the Indomitable Gauls holding out against the Romans will start to crack as more and more people give up waiting and sell at a loss.

[Bug16]

Liked this from page seven of the thread (I skipped, get's tedious really)

"We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?"

[Dubbya]

Liked this from page seven of the thread (I skipped, get's tedious really)

"We put down a 40k deposit on a house worth 230k so that will protect against negative equity somewhat won't it?"

Abolutely right...somewhat; if burning through a £40k deposit to delay negative equity could ever be called "protection"

[Lone_Twin]

Did you read the post where she said she was an ex-EA!

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Absolutely priceless.

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Revenge

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ST