Scorchio

Stockton centre is a dump and I believe that's where Stewy lives from what he says. It's literally the worst part of Teesside, and indeed one of the worst areas of the country for crime. I also think the way he formulates sentences suggests a bit of Asperger's. But the crux of the matter is that his parent(s) bought him his flat/house (cash buyer!), he earns circa £25-30k pa in a call centre-type establishment and he's hopelessly lonely hence the time he spends here and most likely 4chan /pol/.

Bought for 100k around 2010 (NE), worth what... £130k now? I'm looking at houses around £300-£400k but don't plan to move again if I can help it.

Some really bizarre comments on there, this one in particular cracked me up: "You need to put beds in the bedrooms. If you're clever, you don't actually need beds, you could use boxes/chairs on their sides and brooms/planks etc to make a bed size & shape and then valance sheet & duvet."

As a recent 30 something father who had the same worries, I can say that the opposite becomes true - they lift your life up considerably and will give you a more positive outlook on the future. What amazes me most is how their default mood is always one of happiness, providing their needs are met. You get to enjoy that everyday and it gradually replenishes a bit of the positivity back into your life that has been taken away over the years!

Why are EAs still digging their heels in so badly and overvaluing? I understand they are completely inept, but they can make money in a dead market by repricing to match what people are prepared or able to pay (and it ain't 2022 sucker prices). Obviously the valuation is the main factor for many when deciding which EA they go with, but they're still collectively coming up with stupid valuations. They could have easily saved this family the hassle by saying 'look, you'll be lucky to get £375k because nobody in their right mind will pay 2022 prices now, but you're quite welcome to list it at £400k for the next 12m in the vain hope somebody as stupid as you comes along and offers asking.

Reminds me of this to be honest:

Lmao

Yes: Bernard Castle Merrybent Yarm Highly Dependant on the Area Darlington (Look at the West End but be prepared to pay more) Newton Aycliffe (School Aycliffe is nice) Thornaby Stokesley Ingleby Barwick (Europe's biggest housing estate) Hemlington Shildon (Outskirts would be OK) Bishop Auckland (Again, not in the Centre) Crook Spennymoor Coxhoe I think I know your politics well enough from lurking, so I would say you'd be happier in a smaller North East town. There have been recent influxes anywhere where the population is over 50k and it has been for the worse.

Daily reminder:

This time last year: 115 / 122 - 6% This year: 109 / 112 - less than 3% ✔️ ✔️ ✔️

There are plenty of sandwich shops around that can assist you if you can't be bothered to cook your own bacon.

Did you really buy in Stockton? Should have paid the extra for Yarm etc, Stockton has got quite stabby in recent times.

I think it's only a viable option if your estate agent can get enough idiots through the door over say, a weekend, it's priced at a level to reasonably expect several offers - and oh yeah, it has to be peak market hysteria. No point in all that nonsense now. The house looks fine to me, I prefer viewing an empty house. But it's obviously 20%+ overpriced for an already massively overinflated market.

Every sale going under asking begins to have a cumulative effect, and believe me the market has tipped to the buyers in many areas. But there is still some pent up demand from those who wanted to buy but didn't manage to over the last couple of years. The hopium is strong for this Spring rebound but it's simply not grounded in reality - there's nothing that would justify it!

I'd sooner buy out the estate agent, close the business and ensure nothing like this can ever happen again.

I think there's something in that. Most of the properties that came on after Christmas were re-lists, but over the course of last year there were tons in my area removed without going under offer. People don't tend to simply give up forever if they've gone to the trouble of listing their property. Everything is hinging on a return to norm which I doubt will happen and the result will be clear by Summer. I'm already starting to view some in anticipation.

I could have taken the loans but opted not to. In hindsight, it could well have 3-5x my turnover (would have employed sales staff). But my perspective (and downfall in general) is that if I don't put my own money in, why should I take it from elsewhere? But I think I know what will happen in the end, as the fallout of this debacle. The fraud money is clearly long gone and unrecoverable, so in the next year or two there will be a drive to audit and persecute innocent, small-time business owners unlike no other ever previously seen. That'll show us.

If they're spending their money, and not credit, then there is a glimmer of hope for the zoomer generation. Otherwise, same as it ever was. Besides this is probably some edge case TikToker trend.

I do recall we had a spot of rain in October - that will have surely been the primary cause for this unexpected development.

If the house has been on days/weeks, or has been through multiple rounds of reductions then 10% may well be considered. If it's been sat for months with no reductions then 20%+ is definitely possible now - I have an insight into some houses selling 20-25% under asking recently. The fact a house can be sat without reductions for months doesn't always mean the seller is stubborn, sometimes there's just no communication between seller/agent and very little interest. Also think it's worth not really discussing price in too much depth with agents, give them a ballpark budget but talk more about what you're looking for. They'll probably give you more time of day, and it's a pain in the arse when they won't engage with you.

2 RM price bands down on the standard post-covid asking price is pretty much what most houses are accepting offers on now, everything else is just languishing from deluded sellers. By mid-next year the asking prices will start 2 price bands down from now and they'll be accepting offers another 1 to 2 bands down. I'm pretty sure of that happening in many areas. On a side note it demonstrates how hilariously silly the UK housing market is where a really strong factor in an estate agents decision making process is the arbitrary max price bands that some developer at Rightmove keyed in to the drop-down form many years ago.

In the north east, this time next year will be a good time. Motivated sellers are getting pushed by EAs to drop back 10% from peak prices right now, and I know some of them are accepting offers 5-10% under those asking prices. This time next year I would hope to see the listings starting 10-12% from peak prices, discounting 10% from that and then accepting 5-10%. So for houses listed at £350k from peak pricing they may be well be selling for £250-£260k if they're motivated enough. That takes us back to 2015 - 2019 range but with higher interest rates. Good times are coming!

Public sector... Hedging their bets on the status quo.

Having recently replaced my car there is definitely a cooling off in certain areas of the market but it certainly hasn't reached the German big three. Still too many deano-box newbuilds that need them on the drive. I would suggest looking at Japanese brands to find a good deal. Lexus IS saloon's ended in 2021 for example.

Thanks. It's beginning to seem like a no-brainer.