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About sayme

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  1. Here's an indiction of Harrow: Viewed two properties last week - - both 3 bed extended semi's with asking prices of around £460k - both need considerable updating (nothing done for 30 years) - two different agents both said the owner's could be 'persuaded' to sell for 10-12% reduction in asking price. The fact is in 2007 I saw 2 properties in identical conditions on the same two roads. Those sold between June and Aug 07 for around £370k (land registry figures). 10% reduction would put the sale price at around £414K. When I plugged this data into Nationwide calculator, zoopla and Mouseprice.net, they all come back with a valuation of around £290-310k. If sold these houses would have gone UP in value since 2007 by £100k. So how do the agents get away with advising the asking price? When I pointed this out to the agents I ended up in an arguement with one. (in 2007 one of the properties was sold by them and they themselves told me they believed prices had dropped by 12% in the area since 2007). Needless to say I was told I was a timewaster and not serious about buying. I am STRing and have a large cash deposit. I will wait patiently
  2. For the record Sibley, as I said the properties we have offered on have been on the market for a very long time. These are properties which have not sold at the peak and are still being advertised for around 8-10% reductions only and still not selling. My offers are quite reasonable given the current market conditions. It is not our offers but the current asking prices that are silly as there are no finances available to purchase at these prices (else the properties would be sold by now) We have already the ability to purchase in the price range that we are looking at. We are serious about buying. The agents see sight of the deposit and are aware we are serious buyers. I do not think we are wasting anyones time and the proof is in the fact that I now get at least one call a day from an agent in our area to ask if we are interested in viewing another property. You do not have the right to judge us- you do not know us. For 5YEARS!! before June 2007 I tried to buy a house by placing offers around or on the asking price in my area and the agents have played every game/ trick in the book. We have lost a good few thousand pounds on surveying houses (when offers were accepted) because agents contiunued to drive the prices upwards by continually employing guzumping techniques. Each time we lost because we refused to get into a price war and we walked away. It is true there do not appear to be takers on this site because if they have bought they do not want to come to this website any longer and face the reallity that their asset is devalueing (they know they will only get the TRUE picture here). Another reason is the site provides good sound information and advise so those of us who visit are confident in the fact that prices are going to fall further and being intelligent folk have decided not to 'take' as yet. Why should we? BTW when I make th 35-40% less offers I no longer get the agent rolling his eyes but infact have had responses such as " well just put any offer forward- in the current market anything is possible". Agents are keen to get any offer. As for the Ferrari, who knows if you take advise from this forum and believe them, as I do, then in 6 months time you might be able to go to the showroom and be able to buy it at £100k instead. It really depends on what the financial market situation is like at the time.
  3. Do persevere. We were doing this late last year and early this year and by August 08 we found many properties we had offered (and offers were rejected) were now being reduced to the level of our offer. Stange though no agents contacted us to see if we wanted to buy now the price had dropped. If they had I would have offered 35% less of the current asking price.
  4. Well if they accept I might buy!! (especially if it is 35-40% OF the asking price instead of 35-40% OFF the asking price)
  5. Sorry guy's my mistake. I am trying to do this whilst pretending to work (don't tell my boss please)
  6. e-motion, I will tell you again if you like but that is seriously what we are doing now. "We offer 35-40% off properties currently being advertised at between 600-800k" There happy now!! Oh and by the way we try to pick on those that have been on the market for a while (and there are many to choose from) are already reduced. This just adds that extra bit of pleasure and hopefully drives home the message. It is no longer a case of the property prices being too high just that the sellers and agents expectations are a fantasy.
  7. Asking prices have been 'irrelevant' for a while now because they are a figment of the agents immagination. If they were relevant we would not be in the mess we are in now. Just for the record, my partner and I have also been doing the same. We view properites (range 600-800k) and make offers at 35-40%. Initially the agents just laughed at us or got annoyed and would not show any more properties. They told us they would put the offer forward because they were legally required to do so but that they would recommend to their client not to accept. However this has changed over the last few weeks. Agents are very keen to please and are seriously putting the offers forward AND trying to persuade the buyers to take the offer. Yesterday one agent even asked if we would take the time to come to their offices and go through some 'interesting' properties with them. He said not to worry about the price tags as there were some real bargains to be had and we could negotiate. I am not ready to buy yet but I am so loving this journey If everyone on this forum did this I am sure we would knock some sense into the agents and the sellers and bring the property market to a sensible level quickly.
  8. Any other commercial/ residential buildings he opened?? I have heard of the MIDAS (as in Golden) touch, obviously this is the is the case of the 'Brown' (as in SH***T) touch I don't think he 'opened' the housing block (not owned as I STR) I live in so my money should be safe under the bed. If anyone knows different pleased advise!! I a worried!!!!
  9. How about this one!! I saw a house 3 weeks ago, on the market for £750k (nah! I can't afford that but just having fun with the agents and not feeling guilty about it either ). I emailed my offer laying down a good argument, stating I was STRing, had plenty of cash deposit and due to the current state of the economy it was MY OPINION the house was worth 30% less so would be willing to offer £500k. Now here is the interesting thing, in the past I have been told to 'have a nice life' or 'we will be advising our clients not to accept' and yet this time I got three phonecalls from the EA. He told me the sellers had received a much higher offer (only 8% lower then the asking price) but as the other buyers were waiting to sell their house he believed the sellers should seriously consider our offer. The EA explained he had tried to talk to the vendors but the sellers would not budge. THE EA WAS TRYING TO PERSUADE THE SELLER TO SELL AT 30% LESS THEN HIS OWN OPINION OF THE VALUE OF THE PROPERTY JUST TWO MONTHS AGO I told him that's OK let me know when they are ready to sell 6 months from now and I might offer £300k for it then. And do you know what he did not disagree with me!!! instead he said he will call back if things change!!! PS I live this is in HARROW and of course everyone on this site knows PRICE IN LONDON (including GREATER LONDON) NEVER GO DOWN.............
  10. NOPE "it ain't hitting LONDON" cause property prices DO NOT FALL IN LONDON. Guys, I was sooooooo worried after I saw this post that I went straight to see my friends at F**tons who assured me this will never happen (them being experts in the field and all). SO I came away with three more BTL's and they kindly arranged 125% mortgage on all of them. (and they said not to tell anyone I was on the dole) Such nice people!!!
  11. Thanks PotNoodle. Do you think the rap will make the NO 1 slot for Christmas 2008 charts? I want the whole country singing it together and then may be (just maybe) the EA's can't ignore it anymore.
  12. http://www.hintonandbloxham.com/ This agent has to be the worst offender. I especially love the bit about the "enough is enough" aproach of the sellers. This agent has not reduced prices on their properties at all since Aug 07 and yet they themselves admit that 2007 prices were the peak prices and have now fallen. Funny I don't see any of the properties on their books being adjusted. They have one property on their books that they sold to the current vendor in 2005 £435k and is being advertised for sale again at £550k since Jan 08. The current owners have done nothing to it (not even keep the garden tidy) since 2005 and they expect to sell their property for £115k more simply for owning it for 3yrs. :angry: This is typical of agents encouraging sellers in this area. No wonder the Evening Standard sited Harrow as being the one area where 56% of the properties are now "stale". I would say to this agent and their clients- "enough is enough" we can afford to wait till you come to your senses. If you are serious about selling DROP YOUR PRICE to an affordable level. Here is a piece of advise for EA and clients: The banks ain't dishing the dosh no more so if you want your assets from becoming a sore then DROP YOUR PRICE to the floor And you will indeed score.
  13. NW London also still sky high and showing no signs of relenting. Agents will tell you it is the owners not accepting the drop in price. Not true. I hear on the grapevine the agents are holding the prices up by advising/ persuading the sellers not to lower their prices and hold on a little longer. Apparently we are on battleground where they are on a win win situation. Agents believe buyers can only hold on for so long. "They 'need' to buy and until then they will 'rent from us' the same properties. When they are ready to buy we will give them the price and they will have to take it. Let's see how long they can hold out" Do these morons not know we can only buy with what we have and what we can borrow? Both of these are a low level now. If Gordie wants to help the economy he should set up a new school to re-educate the generation of brainwashed estate agents into reshaping the housing market. AND MAKE IT FAST.
  14. The market crashes and the sellers (general public) loose. I am sure Mr Hunts investing cronies have already sold and left the country with the loot. :angry: The buyers might think they are benefiting but already there are calls for proping the banks up with public money. So the money they save in property will be paid in taxes to bail the banks out. So yet again we pay for the likes of Jon Hunt and his Bank cronies to become richer. Like I said 'OH BOY' we are in trouble.
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