abharrisson Posted July 28, 2009 Share Posted July 28, 2009 Happened to friends , phone call to say "had an offer but will you make a higher one"? As another poster said, how do you know if they are telling the truth? I would have thought if they thought your original offer was anywhere near what the seller would accept they would have come back at the time. I would call their bluff. How much above your original offer is the offer they now say they have? Got to remember agents are selling about 1 house per month! There was a thread this week about people suddenly getting phone calls from desperate EA's , easy to see the scenario in your case. You put in an offer of 25% from peak in April , it wasn't accepted. Spring /Summer bounce now over, agents books clogged with overvalued unsold properties that they know valuations will come in 25% + from peak, so they return to people who put in offers earlier with the story "we have had a higher offer ....but would you increase yours." We have quite a few friends, all cash buyers, put in offers months ago at 25% from peak, would't be interested now at anything higher than 30% from peak. I'd agree with these things theres always a suspicion there are no other bidders of any serious note and you are just being strung along. being a suspicious individual I have declined the "chance" to be involved in offers, races etc over the years..... since the data was available I have habitually checked back and found the sold listed price to be in line with the info being given by agents... funilly enough though I'd still avoid it.. especially in a weak market like we have now... but thats just me, if its your dream house and you think you can buy it for something you can afford then you may want to proceed. last time I did it it was bids over the asking price (this is 2005 ) and then with three still left in and the price 15% over, it was best and final offers (I declined the last part). In the someone paid 22% more than the asking which as it turns out would have been something like peak 2007 for the place. Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 course they are, L&G are developers...silly me.been bear hunting long? As per usual on this site you can't bring a fact to the table without it being ridiculed - do a tiny bit of research and you won't look quite so silly. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 28, 2009 Share Posted July 28, 2009 As per usual on this site you can't bring a fact to the table without it being ridiculed - do a tiny bit of research and you won't look quite so silly. Bearhunter Group: New Members Posts: 6 Joined: 29-May 09 Member No.: 21,021 Bull or Bear? Neither Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 BearhunterGroup: New Members Posts: 6 Joined: 29-May 09 Member No.: 21,021 Bull or Bear? Neither Sorry not sure what point your making? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 28, 2009 Share Posted July 28, 2009 As per usual on this site you can't bring a fact to the table without it being ridiculed - do a tiny bit of research and you won't look quite so silly. linky Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 linky Times this morning: The Homes & Communities Agency (HCA), the government body charged with boosting the supply of homes to meet ballooning demand, said that it had received “expressions of interest†from 64 investors, builders and property managers after inviting submissions in April. Legal & General said that it had held talks with HCA, but “more clarity was needed†on the level of government assistance before it put together a full proposal. Bill Hughes, of Legal & General Investment Management, said: “The strategic case is strong and has been strong for some time. Pricing in residential is particularly attractive. However, there are limitations, such as we don’t think the blocks can be more than 60 to 100 units.†An HCA spokesman said: “Aviva was the first to go public, but we anticipate others doing the same over the coming months.†The bulk of the professionally managed homes will be built by UK-based builders and are likely to be apartment blocks, rather than houses. Sir Bob Kerslake, chief executive of the HCA, said the homes would be priced at competitive market rates and would be of a more consistent standard than is currently available via private landlords. Happy now? Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 28, 2009 Share Posted July 28, 2009 Sorry not sure what point your making? Daft as a brush . Quote Link to comment Share on other sites More sharing options...
bogbrush Posted July 28, 2009 Share Posted July 28, 2009 hi,I put an offer in on a house about a month ago and it got rejected. I've just had an answer phones message from the EA saying that they have just had an offer accepted and would I like to make another offer..... hardly fair on whoever is buying the other house is it! i wondered is this legal, if they want to sell it that way send it to auction. Darren. IMO he's trying to do a good job for the seller, just don't fall for it. Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 Daft as a brush . So I explain to someone that I know institutional investors are coming to the market because I have helped develop some of the funds, and because I get ridiculed for it - you think that makes me daft as a brush. What a funny little life you must lead? Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted July 28, 2009 Share Posted July 28, 2009 it's one of the big reasons i'm looking forward to eventually getting a house - so i don't ever have to deal with these slimeballs again. some of the vendors aren't much better, but jesus, i feel dirty just dealing with 99% of EAs.i put an offer in a couple of months ago, which was rejected. the vendors have accepted a higher offer, but have also left it on the market until exchange, in case they get a better one*. either the agent is lying, or the seller is just a contemptible sh!t. maybe both, but almost certainly not neither. if i'd had an offer accepted and they pulled that one i'd tell them to p!ss off or limit the offer to 24 hours *it's not a repo by the way I find these sentiments a bit strange. An EA is contracted by a house owner to get the best price possible for the property. In obtaining the best price the EA is acting in the best interests of the seller, not the buyer. Would you be happy if you contracted someone to sell something for you and they didn't try to get the best price, within of course all legal constraints ? If you offer a price less than the seller is willing to accept, then this is playing hardball and you need to understand that at any point before the contracts are exchanged the sale could break down if a higher bidder is found. You may get a cheap house if you put in a low offer, but also you may find that a higher offer comes in while you are accumulating fees etc. This is the price you pay for playing hardball and trying to bargin. The price you pay for gaining your extra £xK is weeks of waiting on tenterhooks, potentially incurring fees that may not result in a purchase and knowing that there is a house out there that you would really like that you may lose. This is one reason why if you are going to play hardball it is in your best interests to close the deal ASAP, so go in as prepared as possible. I think with the market sentiment as it is at the moment (with most info pointing to prices on the rise, despite low volumes), playing hardball with vendors isn't going to get you too far unless they are desperate. Personally I think that aggressive bargining only really works when market sentiment is negative amongst the vendors (get the best price you can while you can). This is not the case at the moment, irrespective of whether vendors technically should be bearish or not. Blame the system, not the participants. Study the system to find out how to use it to your best advantage. Don't get frustrated, it's not worth it. If you can't analyse the situation dispassionately, maybe it isn't all about the money...and saving that few K... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 28, 2009 Share Posted July 28, 2009 Times this morning:The Homes & Communities Agency (HCA), the government body charged with boosting the supply of homes to meet ballooning demand, said that it had received “expressions of interest†from 64 investors, builders and property managers after inviting submissions in April. Legal & General said that it had held talks with HCA, but “more clarity was needed†on the level of government assistance before it put together a full proposal. Bill Hughes, of Legal & General Investment Management, said: “The strategic case is strong and has been strong for some time. Pricing in residential is particularly attractive. However, there are limitations, such as we don’t think the blocks can be more than 60 to 100 units.†An HCA spokesman said: “Aviva was the first to go public, but we anticipate others doing the same over the coming months.†The bulk of the professionally managed homes will be built by UK-based builders and are likely to be apartment blocks, rather than houses. Sir Bob Kerslake, chief executive of the HCA, said the homes would be priced at competitive market rates and would be of a more consistent standard than is currently available via private landlords. Happy now? indeed, this quango is looking for funding to cover the housing shortage...... polite noises of exit from pension funds, who are losing packets on their commercial property portfolios Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 28, 2009 Share Posted July 28, 2009 So I explain to someone that I know institutional investors are coming to the market because I have helped develop some of the funds, and because I get ridiculed for it - you think that makes me daft as a brush. What a funny little life you must lead? No, it was this sweeping statement from a new poster with 6 posts. By the way, see my sig. As per usual on this site you can't bring a fact to the table without it being ridiculed Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 (edited) I find these sentiments a bit strange. An EA is contracted by a house owner to get the best price possible for the property. In obtaining the best price the EA is acting in the best interests of the seller, not the buyer. Would you be happy if you contracted someone to sell something for you and they didn't try to get the best price, within of course all legal constraints ?If you offer a price less than the seller is willing to accept, then this is playing hardball and you need to understand that at any point before the contracts are exchanged the sale could break down if a higher bidder is found. You may get a cheap house if you put in a low offer, but also you may find that a higher offer comes in while you are accumulating fees etc. This is the price you pay for playing hardball and trying to bargin. The price you pay for gaining your extra £xK is weeks of waiting on tenterhooks, potentially incurring fees that may not result in a purchase and knowing that there is a house out there that you would really like that you may lose. This is one reason why if you are going to play hardball it is in your best interests to close the deal ASAP, so go in as prepared as possible. I think with the market sentiment as it is at the moment (with most info pointing to prices on the rise, despite low volumes), playing hardball with vendors isn't going to get you too far unless they are desperate. Personally I think that aggressive bargining only really works when market sentiment is negative amongst the vendors (get the best price you can while you can). This is not the case at the moment, irrespective of whether vendors technically should be bearish or not. Blame the system, not the participants. Study the system to find out how to use it to your best advantage. Don't get frustrated, it's not worth it. If you can't analyse the situation dispassionately, maybe it isn't all about the money...and saving that few K... That would be true in the real world, but in Bearland vendors are not allowed to try to get maximum price, and purchasers must offer well under the asking price so as they get a bargain. It's a bit like socialism but further left. Edited July 28, 2009 by Bearhunter Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 28, 2009 Share Posted July 28, 2009 So I explain to someone that I know institutional investors are coming to the market because I have helped develop some of the funds, and because I get ridiculed for it - you think that makes me daft as a brush. What a funny little life you must lead? institutional investors have always been in the market. through funds I would guess, not bidding for individual houses. Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 indeed, this quango is looking for funding to cover the housing shortage......polite noises of exit from pension funds, who are losing packets on their commercial property portfolios Oh so you did know after all - that's all right then. Quote Link to comment Share on other sites More sharing options...
bb7t6 Posted July 28, 2009 Share Posted July 28, 2009 No, it was this sweeping statement from a new poster with 6 posts. By the way, see my sig. What does the number of previous posts have to do with the validity of poster's comment?! Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 (edited) No, it was this sweeping statement from a new poster with 6 posts. By the way, see my sig. Ref your sig. Sorry but you're flattering yourself and this site. Edited July 28, 2009 by Bearhunter Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 28, 2009 Share Posted July 28, 2009 What does the number of previous posts have to do with the validity of poster's comment?! Sir Bob Kerslake, chief executive of the Homes and Communities Agency has welcomed today’s housing announcement, including over £1.7 billion through the housing Private Finance Initiative, as an indication of ‘strong momentum and quick delivery through the HCA.’ Sir Bob’s comments came as Housing Minister John Healey unveiled a series of steps to accelerate plans to build thousands of new homes and help revitalise the housing market. As well as the successful bidders in the latest round of the housing Private Finance Initiative (PFI), today’s announcement also includes an additional £35 million for Housing Market Renewal Pathfinder areas and first quarter affordable housing performance which shows significantly improved performance relative to 12 months ago in terms of starts on site and housing completions. Quote Link to comment Share on other sites More sharing options...
Charterhouse Posted July 28, 2009 Share Posted July 28, 2009 No, it was this sweeping statement from a new poster with 6 posts. By the way, see my sig. How many of your 793 posts just say how many posts a poster has and then puts someone who wants to actually join the debate into your childish little "lala I'm not listening" signature? It's a miracle there's anyone left here who wants to have a debate the way that you go on. You sir are the worst troll of anyone on this site, shall I make a witty little sig about you? Quote Link to comment Share on other sites More sharing options...
Nugsson Posted July 28, 2009 Share Posted July 28, 2009 You sir are the worst troll of anyone on this site Hear hear. Quite frankly it's embarrassing to read at times. Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 How many of your 793 posts just say how many posts a poster has and then puts someone who wants to actually join the debate into your childish little "lala I'm not listening" signature?It's a miracle there's anyone left here who wants to have a debate the way that you go on. You sir are the worst troll of anyone on this site, shall I make a witty little sig about you? I have to agree - I would love to be bullish about the housing market as I have a massive stake in it - but I am realistic and the signs are still worrying. To date I have probably lobbed in a dozen comments and all I get back is mild abuse (even in this thread) - and on a couple of ocassions outright hostility - there really does not seem to be any constructive debate and I am involved with property for a living so thought I might bring a little depth - but not sure it is welcome here. Quote Link to comment Share on other sites More sharing options...
bb7t6 Posted July 28, 2009 Share Posted July 28, 2009 Hey everyone, read my sig! (Yay another post to add to the count!) Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 28, 2009 Share Posted July 28, 2009 I have to agree - I would love to be bullish about the housing market as I have a massive stake in it - but I am realistic and the signs are still worrying. To date I have probably lobbed in a dozen comments and all I get back is mild abuse (even in this thread) - and on a couple of ocassions outright hostility - there really does not seem to be any constructive debate and I am involved with property for a living so thought I might bring a little depth - but not sure it is welcome here. no good moaning. this site is rufty tufty. present a well thought out argument and people might listen to you. maybe you could even change a few minds....some are wavering...even the odd mod or two. If you dont like a comment, ignore it and battle on. personal insults are not constructive. but newbie with sweeping statements easily dismissed and a name like bearhunter is bound to raise an eyebrow. for me, the whole thing is for entertainment purposes only. Quote Link to comment Share on other sites More sharing options...
Gigantic Purple Slug Posted July 28, 2009 Share Posted July 28, 2009 I have to agree - I would love to be bullish about the housing market as I have a massive stake in it - but I am realistic and the signs are still worrying. To date I have probably lobbed in a dozen comments and all I get back is mild abuse (even in this thread) - and on a couple of ocassions outright hostility - there really does not seem to be any constructive debate and I am involved with property for a living so thought I might bring a little depth - but not sure it is welcome here. I disagree with you on that one. There are some really fantastic contributions to this site from bears and bulls alike. Clearly some of the people posting are very financially astute and that's what makes reading this site so worthwhile. If it was all hate then you would have left by now ! It's a shame that many of the financially astute bulls are probably put off from commentating because of the hostility of a few idiots. There are of course many people who are totally unreasonable, but that's what ignore is for. I agree that the Troll sig is a pretty pathetic McCarthy-ish attempt to root out trolls and I'm surprised the guy hasn't been trolled himself, after all isn't his sig rather unnecessarily argumentative ? Quote Link to comment Share on other sites More sharing options...
Bearhunter Posted July 28, 2009 Share Posted July 28, 2009 no good moaning.this site is rufty tufty. present a well thought out argument and people might listen to you. maybe you could even change a few minds....some are wavering...even the odd mod or two. If you dont like a comment, ignore it and battle on. personal insults are not constructive. but newbie with sweeping statements easily dismissed and a name like bearhunter is bound to raise an eyebrow. for me, the whole thing is for entertainment purposes only. At last we agree on something Blue Loo - trust me I am not here for anything other than entertainment. OK handle will get people defensive on this site. Thought my post about institutional investors changing the face of the market would be considered a well thought out point. Quote Link to comment Share on other sites More sharing options...
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