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House Price Crash Forum

thelarry

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About thelarry

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  1. All due respect to you as a long term member with plenty of posts but without any good reasons that's got to be your fear talking. The data and economic outlook speaks for itself to an extent.
  2. The asking price of several houses I've looked at has been 20-25% more than the recorded sale price of directly equivalent houses (i.e. a couple of doors down, same style / size / layout) that have sold within the last year. If anything I'd say the sold data suggests a downward trend over the last year. In other cases houses bought for in 2007 / 8 are being put on the market for 70k> more than the 2007 value (when the underlying price data for the region still suggests that prices are well down on that date). What are these EA people playing at. It looks like a blatant attempt to rig / kickstart some price inflation through collusive practices by the EAs. I don't understand it - they would need a critical mass of people too stupid to look at the public domain data for that to even have a chance of working and I'd have thought that people who have nearly half a million quid to spend would have been sufficiently literate / IT literate to consult the free public domain data out there. Has anyone else noticed anything similar?
  3. I'm wondering what people see as the way to approach the often vast difference between asking prices and the hard evidence of what houses are selling for on Zoopla. There are houses near me that we are potentially interested in which are on the market for c.£440k, but Zoopla suggests that houses on that street (and they are not all that different) have been selling for more like £350k over the last couple of years. Now, I know that EAs are habitually overpricing properties on lockin terms with potentially unrealisic vendors but I am unsure of how people deal with this disparity. If I dont want to pay more than the reported recent selling prices on Zoopla (I assume these are accurate!) then how do people deal with it. It seems mad to be offering more than 20% under listed price. It seems even more mad to build in some negotiation space and offer more like 30% under asking price. However, that's what seems reasonable. Can someone enlighten me on what the moronic EAs are playing at and what the pattern tends to be between listing at price X and selling at price Xminus20%? Cheers TheLarry
  4. I'm looking for a flat in E London. Probably somewhere between Maze Hill and New Cross. Can anyone suggest where I might look to find properties being let without having to go through an EA and put up with their fees - want to be able to negotiate with the landlord directly if possible. Any advice appreciated
  5. I've come across a lot of people who are amazed and disgusted when prospective buyers offer them £50k less than they think their property is worth and refuse to sell. EAs appear to also dismiss out of hand anything that might be thought of as a realistic offer, still looking for last year's prices. My question is, how long will it take for people en masse to realise that the true worth of their property is miles, miles lower than what people were willing to pay for it a few months ago. I assume that eventually reality will start to sink in and that's when the implosion of house prices will really begin. How long will that take do you think?
  6. I've come across a lot of people who are amazed and disgusted when prospective buyers offer them £50k less than they think their property is worth and refuse to sell. EAs appear to also dismiss out of hand anything that might be thought of as a realistic offer, still looking for last year's prices. My question is, how long will it take for people en masse to realise that the true worth of their property is miles, miles lower than what people were willing to pay for it a few months ago. I assume that eventually reality will start to sink in and that's when the implosion of house prices will really begin. How long will that take do you think?
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