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DownsizingDiva

The Land Of Broken Chains

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Has anyone else noticed the rise in "SSTC - Available" properties on RM Propertybee?

A friend of mine put their house up for sale a couple of months ago, had 6 viewings in the space of 2 days, and was proudly proclaiming that he had "sold" his house. Yesterday, he had a phone call from his EA saying that the buyers chain had collapsed.

I went on RM this evening, and found several properties which had previously been "SSTC" have now been re-listed as "available".

If folks can't get the funds, they can't get the house...

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Been quite a few of these threads lately on HPC....and indeed references in the press to the problems getting from SSTC to Sold , even RM's recent HPI said that EA's are advising sellers to take a lower offer from a cash rich buyer rather than accept a better offer from someone who needs a mortgage, all we need now is for EA's to SPELL IT OUT to sellers that lenders are NOT lending at 2007 levels OR VALUES, so even if someone gets a mortgage the valuation is going to bring that offer price down 25 - 30% below peak.

HPC How Long do you Wait SSTC

HPC End of Silly Season EA's Getting Desperate

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Been quite a few of these threads lately on HPC....and indeed references in the press to the problems getting from SSTC to Sold , even RM's recent HPI said that EA's are advising sellers to take a lower offer from a cash rich buyer rather than accept a better offer from someone who needs a mortgage, all we need now is for EA's to SPELL IT OUT to sellers that lenders are NOT lending at 2007 levels OR VALUES, so even if someone gets a mortgage the valuation is going to bring that offer price down 25 - 30% below peak.

HPC How Long do you Wait SSTC

HPC End of Silly Season EA's Getting Desperate

I agree. Trouble is, the EAs who I have dealt with when I have been looking at properties to buy (and thankfully haven't) don't seem to give a monkeys whether I have the funds to buy outright without a mortgage (which I do) or not. What is the matter with these people????

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I agree. Trouble is, the EAs who I have dealt with when I have been looking at properties to buy (and thankfully haven't) don't seem to give a monkeys whether I have the funds to buy outright without a mortgage (which I do) or not. What is the matter with these people????

Its the lack of joined up thinking......

Miles Shipside from Rightmove seems to have been seeing the BIG picture all year but it just does not seem to filter through to the EA's .

People seem to think that "wishful thinking" is enough, add in a LOT of VI ramping....keep saying "QE will filter through" and "prices are going back up", but it is all a smokescreen.

Rightmove's HPI's confirm time and time and time again that limited lending is significantly effecting the market and that this is not going to get better any time soon yet still the EA's add 20% to a 2007 value knowing the lender's valuation will bring it down 40%!!

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I'm hoping for more.

Many many more.

It's saving the idiots from themselves.

Me too. Number of properties coming onto the market seems to be increasing down here, so perhaps we are entering the true "bull trap"?

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Me too. Number of properties coming onto the market seems to be increasing down here, so perhaps we are entering the true "bull trap"?

Doesn't help though does it when they come fresh to the market 15% above 2007 value and you wouldn't even want them if they were 30% below!!

Rightmove

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