2rocketman

Me bad, apologies. It come up on my google search. I did look for the article on mail online and could not find it, but the date in the top corner was today’s. Things do go in cycles.

Maybe I am being to conservative? https://www.dailymail.co.uk/news/article-151551/House-prices-fall-30.html

Everything I have viewed and made an offer to date has been marked down by a minimum of ten percent, two of the properties had been marked down around 17% through multiple drops. All have been on the market at least 6 months. I am just going in for another 20% on top of that. It’s a buyers market and I am trying to buy a house at the lowest price possible. Sure the sellers are grateful for your concern though:) Did Sausage actually state what his “cheeky offer” would be in terms of %?

That’s the spirit!

https://www.ft.com/content/b788a366-f4c1-11e9-b018-3ef8794b17c6 This will work it’s way down!

I don’t agree. You can not generalise like that. Each property, each sellers position is different. It could be inheritance, they may have debts, they may want to take advantage of the brexit effect and buy abroad. Who knows? It all depends what property you are talking about. I personally am looking for something that needs some work (not major) and is vacant maybe probate or owned by someone gone into care. Something that has already been on the market for 6 months to a year, something that can not be rented. There are plenty like this around, I have my eye on quite a few and an offer in on one currently. What would the vendor have to gain by holding it for another year? When they have seen the price fall over the last 12-18 months. All the hassle & costs involved in keeping a property vacant. I think prices will only deteriorate from here, it’s whether the seller is of the same opinion. I am not saying my strategy would work on an up to date 3 bed semi with a family living in it. It may though I guess if that can get a reduction the other end. You won’t know unless you try.

Crashy crashy crashy😂

Estate agent contacted me today to advise the sellers have decided to remove the property from the market with immediate effect.😂😂😂Their intention is to rent it! Hope they don’t encounter S24😂😂😂

P.s I just put reading into Zoopla and there is currently 560 listings in total of which 220 have been reduced. Circa 40%. Does that mean anything? Is it significant? I would say it is if you are buying or selling a property in Reading.

The asking price was the price if not higher 3 years ago. Now as you say it’s fairly insignificant. It is more what someone is willing to pay. That is my point. It’s now a buyers market and it is the buyer dictating the price not the seller.

64 in the last 6 days?

Love it..

I just looked up Reading on Rightmove and in the last 6 days alone their have been 64 properties reduced. Hardly a sign of buoyancy. Buyers market there for sure now...

Yes but it gives a very good indication of where the market is heading and current sentiment. Rightmove, Zoopla etc is littered with reduced properties it wasn’t 3 years ago. Everything was selling. Each to there own, I know I can buy much more for much less today than this time last year. I think some people may still be in denial but it will no last.

Okay last one, I don’t want to bore everyone. This is what chasing the market down over 2 years looks like. To be fair it did start with a 2% reduction. Now it’s - 26.5% surely there is still a bit more room for negotiation? The vendor seems flexible on price:) https://www.zoopla.co.uk/for-sale/details/44610277?utm_source=v1:5bWFDybfWx7C7AGpeagt7mP3PgcqjuqJ&utm_medium=api