No Price Reduction Here, Ea Is Innundated

[Number79]

Is this guerilla marketing - is this your semi Richyc

I am far more bearish than most here. If it was mine it would not be for sale and there would be no paddock. It would be surrounded with barbed wire with an acre of growing veggies and chickens probably with a few goats and a carp pond.

[aliveandkicking]

man rings estate agent with offer and she says you gotta do better if you want a chance.

You fell for that old chestnut?.... shame on you.

Thats a bit silly Bloo loo

If there is no interest and the seller wants to sell an agent cant drive buyers away like that.

Instead they need to get a group of people who are offering and then see who will outbid the others.

If there are no offers and the person needs to sell there is no point in playing games

The games come in when there is interest.

[winkie]

I was signing a 12 month tenancy agreement so it was not for my benefit. She told the bloke to sod off because he had a house to sell, they are only interested in people that are procedable know because of the ammount of interest. There was no hint of do better just a piss off.

For most of us it is a waste of energy even looking until you have a viable offer on your own...no sale no buy.

[Bloo Loo]

Thats a bit silly Bloo loo

If there is no interest and the seller wants to sell an agent cant drive buyers away like that.

Instead they need to get a group of people who are offering and then see who will outbid the others.

If there are no offers and the person needs to sell there is no point in playing games

The games come in when there is interest.

Shes probably been on a course, and if the offer was serious she is duty bound BY LAW to pass it on. She was whats known in the trade as "qualifying the lead".

The technique also gives rise to a psychological effect where if you tell the prospect he cant afford it, he'll want to prove to you he can and want it even more.

Its a good sales technique. Used it myself lost of times.

[Flat Bear]

Probably this:

Well this tells me we are seeing falls in asking prices big time (end of denial?)

I would suggest this house would have been "valued" at around £800k in 2007

I am suprised there hasnt been more interest. Expect some will offer around the 400k mark but in this climate for a quick sale £500k

[juvenal]

http://www.rightmove.co.uk/property-for-sa...&radius=0.0

Or how about this - erh, with an more than an acre less land

Richyc - as suspected, your original post was misleading - the original semi in question was popular because it was incredibly well priced for an area where a decent small building plot will set you back 250,000 plus.

I AM NOT AMUSED

Anyone else notice that the ceilings in this cottage (see link) are so low that anyone over 6 feet in height is asked to talk to the agent prior to arranging a viewing?

[Giordano Bruno]

who gives a flying frack.

My feelings exactly, Bloo Loo.

[200p]

Yes but they don't want need or want 90% of the houses.

True LOL.

A few wealthy Saudis could corner a local residental market [like the wilsons] with cash, but they don't do it..... theres better investments out there.

Edited January 16, 2009 by trev

[buzzardo]

Is this guerilla marketing - is this your semi Richyc

FFS - give the man a break. He only started a thread with an interesting discussion topic he wanted to share.

If we give anyone who starts any kind of mildly contrarian indicator thread this level of abuse, no b@st@rd with any sense will bother to post anything.

Which means we'll be left with Patprimer, Squibbley and "I'm Sham Chav Sh!t" (sorry, I'M SHAM CHAV SH!T, as he had the capslock on when he registered,) and then what the hell would be the point of swinging by here? Except to call them *****s, which I suppose has some sort of therapeutic value, but wouldn't make this place worth visiting that often...

B

[babesagainstmachines]

Government knows it's ******ed without stupid house prices

Government nationalises banks

Government decides it couldn't give a ****** about sterling

Government prints money

Government banks lend at 100% at low rates

Prices rise

Now apart from the fact that in this scenario a loaf of bread costs £100 it's not implausible is it? Those with STR funds in cash had better be ready to move quickly. The Government will ****** you over in 10 seconds flat. After all by not joining in the lending idiocy you've ******ed it up for everyone haven't you?

I think you should look at this thread http://www.housepricecrash.co.uk/forum/ind...howtopic=101203

[stillwaiting]

I have been told by a number of estate agents in my area that they are busy with a lot of interest since January. I drive past a road with a number of estate agents in every day after work and for some reason these buyers are never seen in the ea offices. Spooky.

When I have viewed a property I am usually told that there are a number of viewers seeing the property that day or have seen it in recent days. However whenever I speak to the vendor they have a lapse in memory and blurt out something daft like they have had no viewings for weeks and no offers for months. Crazy people.

Maybe estate agents simply phone each other making phantom bids as they wile away the boredom as they wait to lose their jobs.

Edited January 16, 2009 by stillwaiting

[Mammon]

This property was probably worth around 150K in 1996.

Adjusted for inflation its not worth more than 250K today based on that valulation.

Another 25% fall in prices and the asking price will get it back to its 1996 inflation adjusted price.

I dont think its cheap just because lesser properties in the area are even more overvalued.

Ofcourse with the low interest rates and government bailouts and helpouts we might not see another 25% fall during this down cycle..

[Number79]

FFS - give the man a break. He only started a thread with an interesting discussion topic he wanted to share.

If we give anyone who starts any kind of mildly contrarian indicator thread this level of abuse, no b@st@rd with any sense will bother to post anything.

Which means we'll be left with Patprimer, Squibbley and "I'm Sham Chav Sh!t" (sorry, I'M SHAM CHAV SH!T, as he had the capslock on when he registered,) and then what the hell would be the point of swinging by here? Except to call them *****s, which I suppose has some sort of therapeutic value, but wouldn't make this place worth visiting that often...

B

Thanks. I did only want to share what had happened.

Some see this as good value at a greatly reduced price. I understand that but at the end of the day the house is small and hasn't been touched in 50 years. Sure it has land but you you don't live in the garden do you?

What amazed me was the ammount of interest and offers. The land, yes but the house is a dump and the rooms are small, just look at the dimensions. Hardly strikes me as the sort of property that would appeal to the horsey set or the wealthy. I imagined that people with that sort of cash would want something larger, an extra bedroom or two or just descent sized rooms.

Even after gutting the inside and spending a fortune it would still be a small 3 bed semi. Maybe i missed something or was just trying to read too much into it but i am disapointed that all i learnt from this is that people jump into threads without reading them and that others just like to give you shit.

[dryrot]

FFS - give the man a break. He only started a thread with an interesting discussion topic he wanted to share.

If we give anyone who starts any kind of mildly contrarian indicator thread this level of abuse, no b@st@rd with any sense will bother to post anything.

Which means we'll be left with Patprimer, Squibbley and "I'm Sham Chav Sh!t" (sorry, I'M SHAM CHAV SH!T, as he had the capslock on when he registered,) and then what the hell would be the point of swinging by here? Except to call them *****s, which I suppose has some sort of therapeutic value, but wouldn't make this place worth visiting that often...

+ 1

The level of abuse is a bit wierd. 350k is a lot but it would have been more and the house is reasonably attractive in an expensive area.

And then I make a joke post about converting (another) such village gem to 10 flats, and it gets taken seriously

(well, maybe my poor attempt at humour!)

[Bloo Loo]

+ 1

The level of abuse is a bit wierd. 350k is a lot but it would have been more and the house is reasonably attractive in an expensive area.

And then I make a joke post about converting (another) such village gem to 10 flats, and it gets taken seriously

(well, maybe my poor attempt at humour!)

No need for abuse.

Argument? fine.

[the-sign-jacker]

One example is a 3 bed cottage. It has not been touched internally for 50 years and needs completely gutting. It comes with 1/4 acre garden and a 1 acre paddock and was priced at £350k. She said they have 5 asking price offers already and are doing block viewings (blocks of 5) for another 15 people. They have already had 25 people view. She says it will go to best and highest offer.

I asked if the offers were from people who had properties to sell and was told that they are all procedable with no chain. Some are renters who have been on the sidelines and others have sold and have cash. They are only allowing people that do not have property to sell to even view the property. They even had 2 calls about the place while she botched my agreement together.

She also told me that properties that had sat on the market for over 6 months were now getting offers that are being accepted. I asked if that was because vendours are now being realistic but she said not, buyers were coming out of the woodwork and offers were close to asking prices.

I asked if they had many people making cheeky offers, she said there had been a few like one offer of £550k for a place on at £850k but not many.

I don't know if I should be shocked, amazed or worrying about buying now but one thing is certain, I was not expecting to hear what I did or see ea's so busy and happy.

i think the following rules it all out as realistic.

a. She said they have 5 asking price offers already

b. She says

c. She also told me

d. but she said not

e. she said there had

i think all these options are from she herself and are based on no fundamentals.

call back in month. see what she says.

[FedupTeddiBear]

After watching several decent-looking 3-bed properties on rightmove in north Hants for a few months, I watched them "stick" for a while, asking prices started to fall and unfortunately have to admit that the lower-priced ones I was watching all seem to be "sold stc" now.

A month ago there were one or two in decent villages priced from about 169K. Now if I try the same search the cheapest one that is not sstc is 189K and seems to be in need of some work.

[FedupTeddiBear]

duplicate post

Edited January 16, 2009 by FedupTeddiBear

[leafygardens]

Sonning common, a village between henley and reading.

I know that places with land will sell but 5 asking price offers so far? 15 more viewings? and all procedable with no chain.

If that is a detached cottage with a paddock in a nice area, it sounds like a bargain.

Here in the South London Suburbs £350,000 will buy you a 3 bed semi., nobody buying them though.

In Chelsea, I guess you might find a lock up garage for your car.

[Number79]

i think the following rules it all out as realistic.

a. She said they have 5 asking price offers already

b. She says

c. She also told me

d. but she said not

e. she said there had

i think all these options are from she herself and are based on no fundamentals.

call back in month. see what she says.

I was signing a 12 month tenancy agreement and she knows that i am not looking to buy. This was not for my benefit and it would have been pointless lying to me or trying to talk the market up.

I was sat in front of her when she told one caller to sod off because he had a house to sell. There was no 'try harder' or 'call back when you have a buyer' or any other sort of game just a flat outright 'go away you are waisting my time'. Which leads me to believe that there is nothing to question.

[Number79]

If that is a detached cottage with a paddock in a nice area, it sounds like a bargain.

Here in the South London Suburbs £350,000 will buy you a 3 bed semi., nobody buying them though.

In Chelsea, I guess you might find a lock up garage for your car.

It is a semi and a small one at that. There is no chance of developing the land and extending would be limited not just because of the other half of the semi but because of the area and being in keeping. It has land but it is still a small place. I didn't think that people with that sort of money would be spending it on a place like this, not as many of them anyway.

[Godley]

Thanks. I did only want to share what had happened.

Some see this as good value at a greatly reduced price. I understand that but at the end of the day the house is small and hasn't been touched in 50 years. Sure it has land but you you don't live in the garden do you?

What amazed me was the ammount of interest and offers. The land, yes but the house is a dump and the rooms are small, just look at the dimensions. Hardly strikes me as the sort of property that would appeal to the horsey set or the wealthy. I imagined that people with that sort of cash would want something larger, an extra bedroom or two or just descent sized rooms.

Even after gutting the inside and spending a fortune it would still be a small 3 bed semi. Maybe i missed something or was just trying to read too much into it but i am disapointed that all i learnt from this is that people jump into threads without reading them and that others just like to give you shit.

I am struggling now to understand your point tbh.

You posted your OP telling us that there was a load of interest in a property, the title of your thread is 'no price reduction here'.

You post the thread on perhaps the bearish website concerned with house prices and have at least half the people on here saying it was not a bad price and would get our interest. Thus, we have shown interest and would go and look at the place. To say 'no price reduction here', is misleading the price doesn't need reducing if the house has been fairly valued in the first place. If it is fairly priced people will show interest most of the people on here are waiting to buy, and when opportunities arrise we will show interest.

And now you post the above which suggests you are saying it is vastly overpriced................What exactly is your point?

1) Look at the hoards of buyers there are still willing to pay silly prices for a house?

2) Prices are not reducing in my area?

3) Look there are buyers who are willing to buy at the right price showing interest?

If you are suggesting in some strange strategic way that 1 and 2 is happening then you are wrong. From the replies you have had its more of number 3.

Where are you?

[needle]

Read the thread before spouting off. The link is provided many times as is the reason i believe what was said.

Youi didnt actually post the link though, did you?

It was someone else.

I dont have time to read all the posts in the thread although I do notice a lot come from you.

And yes, I get the point, you think EAs are inundated on the basis of one house.

Its logged on Property-bee now so we'll keep an eye on it for ya.

[aliveandkicking]

Shes probably been on a course, and if the offer was serious she is duty bound BY LAW to pass it on. She was whats known in the trade as "qualifying the lead".

The technique also gives rise to a psychological effect where if you tell the prospect he cant afford it, he'll want to prove to you he can and want it even more.

Its a good sales technique. Used it myself lost of times.

If the agent already has some serious buyers interested and the conditions are that only cashed up and able buyers are to be presented to the vendor then i would guess the agent is under no obligation to present buyers if they do not show they are serious? Your legal 'what not' says 'serious buyers'. Suggesting it is an offence to refuse to present serious buyers - which is not the same as saying all buyer offers have to be presented i would guess.

However i agree - after reading what you have said - that the agent can create buyer interest - for some buyers using various pyschological techniques

But so far 350 for a semi in oxfordshire with 1 and quarter acres of land in a rural setting sounds pretty cheap, and unless it is in the middle of a pig or chicken farm or abbatoir it sounds fairly good so far.

[leafygardens]

It is a semi and a small one at that. There is no chance of developing the land and extending would be limited not just because of the other half of the semi but because of the area and being in keeping. It has land but it is still a small place. I didn't think that people with that sort of money would be spending it on a place like this, not as many of them anyway.

It's simple, there are loads of modern houses with 30' back gardens on busy roads that will not attract a lot of interest in any market. Property price crash -50%

A character property in a nice area with a bit of land is sought after at any time at a sensible price.

Few come onto the market, when one comes along there is a rush. Watch out for the punters with their 4x4s