Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Everything posted by chrismar

  1. we too are also in a similar position. We have made offers and they are as much as we are prepared to go, given what these properties need doing to them. We have made that clear to respective agents. In over a week now neither property has achieved a sale, (and both have been on market for over 12 months). We are up against two agents who are holding against us what we sold (a larger property) for back in 2009 and they claim we can afford to offer more .... .
  2. We are buyers, with nothing to sell (we sold late 2009 in the then mini-peak) and are now looking in the same town again, but for a smaller property than we had at that time. Two of the agents in the town are really helpful and being proactive to try and canvass and get property on their books - they appreciate our position and ability to purchase/proceed. Two other agents - both with whom we have made offers are the complete opposite. They are using what we achieved a sale for and type of property we had then as a lever against us to try and get increased offers. . .
  3. We are facing a problem with an agent who is taking the stance ... "you sold for X in 2009 therefore you can easily offer Y now" How do you approach people who are obviously downsizing and once had a large 4-5 bed property, but want to move into something smaller as they get older and the family have moved out - surely they cannot and we are facing this now be expected to pay full asking prices because we once had a larger house. We have had it used at us that buyers cannot be expected to pay full asking price if they are downsizing.... ) And that was the same agent negotiating our buyers sale and our sale! That agent was not the agent who did eventually sell the property for us. That particular agent is being very helpful to us now, in as they tell us a falling market.
  4. Back in 2009 we were in a job related position. We agreed a sale in March 2009 at below the value we really wanted, and then were faced with a job redundancy situation which at the time changed our position overnight. We pulled out from that sale and stayed put. A few months later in 2009 we remarketed (as we were still thinking of moving 15-20 miles away) - and as it was the market picked up late that year and we agreed another sale - we were lucky that 3 people were after 2 identical layout properties only yards apart - and the other one went for 10K over the asking price, which was the one with the bidding war on it, and the other 2 people then fought it out for ours, and we got our full asking price. We put out effects into storage (with brother in his large house) and started looking, but we were keen to let that sale go through for various reasons. We were then all set to move away. A family member (my partner) then was taken ill, shortly after and we have stayed lodging with brother for past 12 months now - and in past 4 months have realised now we know extent of illness that we cannot move away as we have got so much at stake now with regular weekly hospital appointments/treatments etc. We are now offering again on properties in the area where we want to be and one agent has actually said to us "you could afford to pay X because of what you achieved on your sale" now we are aghast that attitude, because the market has fallen in past 15 months, and as everyone (including 2 other local agents who are helpful to us - you cannot say to someone what they must or should pay because of what they achieved 15 months ago. The market has moved on - downwards as we all know. All we know is that these properties that we have viewed and offered on recently were all on market before we sold and are still waiting to sell.
  5. Can anyone who knows tell me whether the figures are basedon computer hits only. Or do they also include searches via iPhones and such devices. Whilst i am a member on rmove and have saved searches set up to notify me on anything new often when I view via a computer I don't login. Dies that activity still get picked up and reported on. Or is it just loged in members who contribute to stats
  6. I'm pretty certain where we are is contained within an immunity cloak. Where we are there are those who live here full time and then there are a good few with their second homes and weekend flats who will keep prices up. Anyone near us who doesn't get price they wants when mummy/ daddy leave them a nice waterside pad just rents it out and there is an army base 18 mile away who pay almost any rental price for their soldiers but if they don't pick up the tab then workmen on long contracts at a largelocal company who have been brought in from other and of Uk. Pair up and rent. All of which keeps our rentals rates artificially up high
  7. Pbroagent you come acrossin that earlier lengthy reply with the sort of good advice buyers especially us need. Wehave got 2 agents who seem to be on our side and who are giving us fair advice and who are telling us to hold fire as our offers are in the more than realistic and sensible category in their opinion as fellow agents in same town who know the propertiesin question. Ican assure you that if anything new comes up for us and it is priced say depending on size 220 - 235. We will be after it and at pretty much on the nose prices as we will know it is well priced to sell. Whereas if it comes on at 248 - 260+. We will have to go in hard with knock downs
  8. Going direct to vendor is ok if they live there. But if property is let out or empty you are scuppered - as we are with 2 properties offered on this month
  9. Bruce Baner - if you are happy to wait that is fine. We are waiting and hoping that more will come on that is realistically priced, and with motivated to sell vendors. We just seem to have found 2 vendors who are expecting large rises on 2007 prices in current market; and who are just being silly and greedy, according to other agents in our town.
  10. On a property that has been on the books since 2008 when it was priced at 255 and it remained at that price until Nov 2010 (it is now down to 249!! ) ... identical one next door sold mid-2010 for 208 ..... When given details of it by dolly office girl in there - I pointed out I had viewed it 12 months ago with the manager .... and then asked what position is with it and its price now .. So the manager pipes up from the back "It is possibly a little optimistically priced still but they have just reduced the price"
  11. Having read your latest reply as well PbroAgent, about both a level of flexibility on both parts, being needed, and your comment that a lot of property is also 10-15% overpriced. I can only recite our recent efforts: we have offered 235 on something currently marketed at 250. It has been on market since Feb 2010. Back then it was on at 270 and if the agent when he isnt charging round in his liveried mini is to be believed - they had an offer last summer when they were on at 270 for 250 and rejected it. We feel in this case there is a vendor who is just being unrealistically stupid and greedy.... The price last paid for this property was £235 at peak pricing. It is currently sat empty, and if it were to be relet out it would need a lick of paint all round to freshen it up, and some other small maintenance elsewhere, which is also what we or probably most people would need to do on purchasing it.
  12. I would suggest checking the sold prices to see if it shows up yet. Generally takes 2 months from completion toappear. There is one agent in our town guilty of leaving things on rightmove for 3-4 months after they complete (and he don't sell much ....,). He's one of the two we are battling with at moment .
  13. Just to give you an update PbroAgent, as you are giving good advice: We have increased our offer on the first property - and again that (independent) agent came back far too quickly with a definite No. We are not now increasing offer at all on that property. We have seen and offered on another similar property and this time that agent (the franchised ones with the liveried minis. E......... - yes them) has come back and said our first offer is rejected; whereupon we increased and said that the increased offer was full and final, (the final offer was also what was paid for property in 2007) and now 6 days later they still have not yet written to us saying they have rejected the offer, only said it to us. We have spoken to two other agents who are being proactive and trying to help us, and those two agents on knowing the properties and the offers we have made cannot comprehend why the agents with the properties are not encouraging their vendors in the current market to accept our offers. The advice we have recieved from those two helpful agents is that we have made very good offers in the current market, and we need to be careful of overoffering because the local market is going to fall further over next 6-9 months or more (hence from our point of view - they are saying be careful.) And if it had been them as acting agents, both have said that in the current market they would have gone round and spoken face to face with clients and explained position and done more than it appears these two agents are doing. Whilst both have said as we all know their interest is to the vendor, there is a point where an offer - especially from someone in our position (chain free, with nothing to sell, cash to buy) has to appear attractive. We have also make it clear that our offers are not open indefinitely to both respective selling agents. We are starting to smell a rat though with the agents who have not written to clarify offer.
  14. Iow has nor really got a large town unless you get the ferry back to mainland which is something like £25ish as footpassenger and go onto Southampton
  15. They have done nothing to the place - other than maybe splash a bit of emulsion about. The problem we face is that many people in this area of town which is a nice respectable area bought during 2003 - 2007 and many are hanging on to them mostly because those who bought in the second phase of the development bought in 2006 and 2007 at high prices which they know they cannot probably achieve - hence the two we have seen/offered on. Also the agents in town have said to someone who has a large 5 bed town house for sale that he might just achieve what he bought for in 2004....
  16. Another update .... this weekend we viewed two more properties. One of them was a potential for us, and in reality we liked it better than the one we offered on last week. So we have made an offer on this second property. It again is on market at £250 and has been on market 11 months now. (was rediculously overpriced before that - at £270. So w we have offered £218 and as soon as I said this the agents response - naturally - was that this was way too low. We would need to be offering mid £230's to start and open negotiations. the agent waited on phone possibly thinking I would increase my offer there and then - but we had said to him on Saturday during the viewing that we could not go to anywhere near the asking price, and he responded at that time by saying that there was still some room for movement on the asking price and what the seller wanted. (the greedy seller aparently had an offer sometime in 2010 for £250 and rejected it he told us, and now regrets that.) we have not heard back from the agents to confirm that our offer has been rejected - if indeed they have put the offer to the seller. We again are not contacting the agent and are going to wait and see when/if we get a letter stating that offer been rejected. As for the first property we offered on - we are not rushing back in this week with a counter offer, we are going to see if/when that agent contacts us. He has only just this morning dropped a letter through the door regarding that rejected offer. He has seen us in town in the office of the other agent who we viewed with on saturday.
  17. I agree with what you sayfor sellers however I am buying and the comment about sellers looking at achieved prices is fine to a point. I am facing a seller who is trying to achieve prices this year that are the same as Sales achieved in 2007 and latterly in Nov 2009 (the two sales agreeed in this street in Nov 09 completed Jan 10). Whilst I know the Market dipped in 08 it picked up late 09 and nosedived since spring 10. That seller has a cash free chain free buyer .... If only hre or theagent would be sensible. The agent is telling me the old cr*p story that because he agreed a sale on next door at £x. This one is also worth the same. The agent is not accepting that next door sold and completed in march 08 for £170 and was then remarketed again in 09 at a much higher price £246. This same agent says he sold it for mid £230s couple months ago I find it strangebecause it is still on rightmove sstc
  18. So what would you advise doing then? How do I negotiate price in my favour? How do I get the agent to talk to the sellers ... we have never met them as they are not there on the viewings.
  19. I dont even believe that the agent has had much of a conversation with the sellers to even try to get them to accept a "reasonable" offer based on what they purchased it for back in the peak of 2007. The agent claims the seller wants £230-235'ish. Having paid £218 in 2007. I can quite realistically hear the old boy phoning up the seller and saying "Ive just had an offer of £205, I dont think you should accept this cos I sold next door for somewhere in £230's recently .... I'll get back to them and get them we are after £235ish" puts phone down. that way he has covered himself by telling them of the offer and has not even got into a discussion of being sensible on price with them. The sellers have as I said earlier moved out, and property is empty and just costing them £250 a month in maintenance and council tax plus whatever heating they are keeping on ...... We are not even going back to agent until mid next week and when we do we shall go in personally and sit down and say to him that if the seller is interested in selling at a reasonable price we are willing to strike a deal - but the price we have in mind is nowhere near £230, we are thinking more of the price he paid in 2007 (£218) and even then we are grimmacing at that. There is no chain involved in this transaction. Seller is selling; we would be buying. End.
  20. An update on where we are now today (Friday) We have had another view of property and made an offer. The sellers have now moved out (they have bought another property nearby and are now living in it,) and this property we offered on is empty and unfurnished and is costing them £250 per month in council tax and maintenance money.... Property is on market for £248. They paid £218 in early 2007. We offered £205 and justified this to agent in current market (we are prepared to come up a bit - to the price it sold for in 2007 if necesary however we have not mentioned this yet). The Agent (this is a local one-man band not a national or regional multi-office) gave us the immediate response that this would not be acceptable because he had sold a neighbouring property for somewhere in the £230's (he wont tell me what it sold for only that he sold it 2 months ago - and he claims that buyer is now living in that property, yet it is still showing as STC on Rightmove, and it does not yet appear in the sold prices lists - if indeed it has completed.) Anyhow - agent then goes off and speaks to client and comes back to me within 20 minutes and says offer unacceptable and seller wants a price in the mid-£230s as he feels his property is worth that. I have pointed out to agent that another property (5 bed town house) has just come onto market in last week priced at £15k above what it sold for in 2003 and a sale has already been agreed on that property in the last week. (that property was out of our league - but it was sold STC as soon as it was listed on Rightmove) . Before we parted company with the agent we felt that the agents attitude was very "we achieved £X for that property so we are going to get a similar amount for this one.... We dont feel that the agent has spent long enough explaining to seller that market has dropped - given that he had a 5 minute drive back to his office - to have put the case accross or given seller long enough to consider accepting even the purchase price that he paid. The agent was very unwilling to accept that prices have dropped - yet we know from speaking to other people who have had agents out for valuations in the same town - not in area we want to live -sadly - that prices are dropping. This property has been on market for over 12 months at this price of £248.
  21. Certainly where we are on cusp of new forest prices are not lowering much. Some people are now reducing by 5k on a 215 asking price and the one we are offering on tomorrow is still at 248 which it had been on market at for 12 month now
  22. Along south coat. Re Lymington new forest villages and Coastal areas. There are 2 definite bands. There are some properties that are keeping prices up (and not selling) becasuse they feel they are exclusive - got view etc or in sugar box village like Lyndhurst. Yet there are patches in these areas that are nothing special just ordinary houses on developments built recently or back in 60s and70s 80s and those are nowgetting more realistic and pricing themselves nearer 2005/6 figures toget sales and in some cases are selling well. Where we are specifically looking a lot people bought in 2006/07 at boom prices and are now just renting out instead of selling. Agents have confirmed it is hard to find property where we now want because so many people sitting tight at moment. Those who are on market are asking 15-20% more than they paid in late 2006 Or first half 2007
  23. Thank you to those who have offered advice. So far we now have a lot to think about. I appreciate those who have taken time to offer constructive help. No there has not been anything done to property since it was built - other than a lick of paint here and there. Hence why we were concerned about such a hgh asking price now compared to what it was previously bought for back in 2007 (£218k)
  24. We are about to hopefully make an offer on somewhere this weekend. We have been watching and waiting in a specific area for past 12 months. The 5 properties on the market in this area have all been on market for over 12 months. One has been on since 2007 (they have reduced their price - but given location of theirs I can see why it still sits there....) All the others are just sitting there. the one we are looking at is currently on for £248 and agent has intimated that they are still looking for £230 . We are likely to offer £210 with intention of increasing in small chunks to maybe £215/218.. At that point in current market we are prepared to probably walk away. The current owners purchase shows up on LR as being in Jan 2007 at £218. Are we being realistic or stupid? What should we offer and what should we walk away at. We have offered on another similar property in 2010 and we walked away at £212 as we knew that went through at what we considered a high price (eventually at £232)
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.