nautilus

Interesting what constitutes a cheeky offer in an EAs eyes. We had expressed a passing interest in a property that needs alot of work done to modernise it. Its currently on at 260K and the EA said we might be suprised if we put in a cheeky offer around 240K. I said that in our eyes a cheeky offer would be nearer to 200K - the conversation didnt last much longer!

So what can you get for $64,000 in that area

I think after this afternoons postings I am more tempted to sit and wait till the spring to see which way things have turned and how fast it looks like the crash will proceed. Problem is that I hate renting as I have an urge to get my toolbox out and do something at the weekend!

Certainly none of the agencies we have visited in the past 2 weeks have seemed at all busy and we got viewings at short notice with no problem

Is it Southampton you are looking at - which part?

Its only worth what someone will pay for it but alot of psycology comes into play when deciding where to pich an offer I think.

I agree that 220k would probably be the lower limit unless they are really desperate to sell. We are in a good negotiating position though as we dont have to sell.

Thanks for the suggestions - perhaps I need to be more bearish in my outlook

Or a silly offer even? Does anyone have recent experience of offering way below asking price?

What do you reckon is a sensible offer to make on a 3 bed semi or detached on at 250K then? I was thinking of starting at 225K

I am currently looking at properties to buy in Southampton but it will be at a good discount to the guide price if we do go for it. I havent bought in the UK for a long time but it is striking that all the agents seem very eager to promote their properties. It also hasnt been a problem to get viewings the next day for everything so far. Having said that there are plenty of reasonably good properties for sale in Southampton but whether they will probably look overpriced come this time next year. We are looking to get 7-8% reduction in the asking price which should buffer any drop for the next year or 2.

Went into a few estate agents at the weekend in Southampton and saw the good and bad side of agents. We said we had a budget of up to 250K but could look at properties up to 275K. I then added that they would soon be down at 250K anyway given the market crashing down. It was quite funny - she actually took it as a personal insult that I suggested prices might be coming down. I did more or less the same with the next agent and she more or less agreed and said it was really slow right now and probably low offers could get accepted.