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House Price Crash Forum

2rocketman

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Everything posted by 2rocketman

  1. Well he purchased it with no intention of letting it out! Was his home for over 5 years and it’s only been tenanted for 6 months, hence selling it with them in situ. It made sense to test the water before jumping in, but now they want to take advantage of the stamp holiday. I’m just amazed how quick they’ve gone under offer. Not to mention how quick the houses they are viewing are getting snapped up...
  2. He met someone, they each had there own house. He moved into hers for a year to make sure it all worked out. Now they are going for 1 huge house of course! His sold without even going to the market with tenants in situ. Hers took 4 days.
  3. I know someone selling a house, accidental landlord. Called the estate agent they’re renting through to ask if anyone would want to buy it tenanted. A landlord offered straight away at an over the odds in my opinion. He asked for another 10% deal done just like that. I give up... What with landlords getting debt slaves to pay off multiple mortgages on there behalf and all the others turning houses in to hotels I’m not sure they will ever drop back. I am starting to think I have missed the boat for good.
  4. I’m definitely wishing. I don’t see it happening anytime in the next 6 months though. I have never known so many friends & relatives to be active in the market. All either upsizing or relocating. The New Forest & Cotswolds has gone crazy. I’ve seen posters listing plenty of other areas as well. I can’t work out where everyone’s confidence in the market is coming from, Low rate mortgages help I guess. We were so close to buying and now it seems like it’s just running away again.
  5. This is inline with my thinking. If no sign of them falling by New Year, then no doubt prices will start rising again into the summer...
  6. I really hope not. If they haven’t dropped by February then I give up. I will 100% be a buyer in the first quarter of 2021 if not before. I can’t wait any longer...
  7. I feel the same, good luck with your purchase. I am so fed up with all the wasted energy we’ve invested into it. We were really close to getting one the other day but we got gazumped. It’s just so depressing! I’m just hoping winter slows the market down a touch?
  8. Collector standard watch prices have moved like house prices. I’m now of the thinking this is the time to sell rather than buy. For example a new Rolex Daytona with a ceramic bezel would set you back £8750 rrp if you were at the top of the 20 odd years year waiting list. These are now fetching 20k in the open market.
  9. https://www.express.co.uk/life-style/property/1274956/house-prices-crash-coronavirus-housing-market-impact-recession
  10. https://www.ccn.com/did-the-fed-just-accidentally-trigger-a-housing-market-crash/
  11. 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.
  12. Maybe I am being to conservative? https://www.dailymail.co.uk/news/article-151551/House-prices-fall-30.html
  13. 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 %?
  14. https://www.ft.com/content/b788a366-f4c1-11e9-b018-3ef8794b17c6 This will work it’s way down!
  15. 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.
  16. 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???
  17. 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.
  18. 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.
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