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House Price Crash Forum


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Everything posted by catpaw

  1. Thanks, that's pretty much all I was looking for. I agree, seems to be a chancer. Real shame, everyone selling around here seems to be in a position where they don't need to sell, instead they put their houses up (often second homes) and put on a silly price tag.
  2. Witney / Oxfordshire. Even if we saw a 20k reduction and a further 20k on negotiation that would only be 40k under list price, and would still mean we are paying £80k more than it's 2006 sale - where all other properties built at the same time within a few miles have all sold for less than their original 2006 purchase price? Or are we focusing in on other sales too much? Here is a basic summary of the street House 1 - purchased in 2006 for £340k - sold in March 2014 for £320k House 2 - purchased in 2006 for £320k - sold in late 2013 for £320k House 3 - purchased in 2006 for £300k - sold in late 2013 for £260k House 4 - purchased in 2006 for £350k - for sale at £470k Next street along House 1- purchased in 2006 for £299k - sold last month for £299k House 2 - purchased in 2006 for £260k - sold last month for £240k I understand we can make offers but I am wondering if everyone else is getting crazy good deals or this one is simply too much. It's put us off a lot seeing the other sales.
  3. Yes I have done that - purchase price £350k - asking price £420k
  4. What would you offer though if all the other houses seemed to go for less than the 2006 price and this one was £120k above it? It would be crazy to offer £120k less than the asking price; we want EAs to take us seriously; we are ready to buy.
  5. I am looking to buy a property, but getting a little bemused about some prices. Case in point: We viewed a nice property yesterday on a street of very similar houses all built around 2006/2007 - we really like the house and would consider an offer; however on getting home and spending a few hours researching we can see that all the houses that have sold on that street in the last 3 years have all gone for less than the original purchase price, or equal to the original purchase price. The last example being 2013 so I appreciate things may have changed since then. However, this road backs onto a small estate that was developed at the same time (cheaper houses) and there are 2 or 3 of those that sold this year (2 last month) that also sold for less than the original asking price. Now the EA has priced this property we viewed at 120k above the original purchase price, even with a deal he thinks the best we can get is £20k off. For me that seems to be a red flag; but I seem to be in the minority as we have taken advice off more experienced people and the general consensus we get is that "a properties true value is only what you are prepared to pay for it". I genuinely don't understand that - we like the property and until we saw this we'd have happily made an offer that would in hindsight have been well overt the purchase price, but we don't want to overpay, we want a fair price for the property we come to buy and have the option of selling it on at market value. Are we being totally unreasonable to be concerned? Admittedly all the properties are different. 3 beds, 4 beds, 5 beds, terrace, and end of terrace; but I have placed my assumptions on the price differences between original asking price and recent selling price that I have found to be relative. This pattern seems to be the same in other developments near where we live, for houses buult in the last 10 years; though for buildings with more period features / character they have often increased in price since 06.
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