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gruffydd

Signs Of Real Panic Selling

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I'm beginning to see real signs of panic selling. Doesn't exactly align with my short-term Bullish expectations, but houses that were moderately reduced are now being priced to sell. Other houses that were withdrawn from the market are now hitting the EAs again at much reduced prices. I've only noticed this in W Wales. Haven't had time to examine other areas I'm familiar with. Anybody else seeing this?

Edited by gruffydd

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I'm beginning to see real signs of panic selling. Houses that were moderately are now being priced to sell. I've only noticed this in W Wales. Haven't had time to examine other areas I'm familiar with. Anybody else seeing this?

Not yet, but heartwarming news. The age of the affordable house approaches.

I'm in the Cornwall land of flat, sorry luxury apartment, oversupply. I have seen two very cheap low end ones (£25k and £38k) but they're still only the first indicators of the avalanche.

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Not yet, but heartwarming news. The age of the affordable house approaches.

I'm in the Cornwall land of flat, sorry luxury apartment, oversupply. I have seen two very cheap low end ones (£25k and £38k) but they're still only the first indicators of the avalanche.

Interesting. I'm seeing sub-100k houses come onto the market - 1/3rd down on similar properties hitting the market this time last year.

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I'm beginning to see real signs of panic selling. Houses that were moderately are now being priced to sell. I've only noticed this in W Wales. Haven't had time to examine other areas I'm familiar with. Anybody else seeing this?

Quite the opposite. Depressing conclusion where I am is that houses are selling. Almost everything I've been watching or looking at has gone. My offers have been blown out and the old 'full and final written offers' trick is at play again. In particular, all the houses for refurbishment/updating/conversion are flying off the for sale lists. Makes me sick. Over the past couple of years I have wasted over £20k on rent.

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I'm beginning to see real signs of panic selling. Doesn't exactly align with my short-term Bullish expectations, but houses that were moderately reduced are now being priced to sell. Other houses that were withdrawn from the market are now hitting the EAs again at much reduced prices. I've only noticed this in W Wales. Haven't had time to examine other areas I'm familiar with. Anybody else seeing this?

Hi

Some cheap Guide Prices in the MustBeSold Auction 1 October 2009

eg Lot 20 Ferndale Mid Glamorgan £19k

In my area there is no evidence of panic selling , asking prices seem to be back to August 2007 levels. Back then, a three bed semi sold for around £275k and we saw a couple of houses change hands earlier this year for £220k - Asking prices now back at around £280k....

Edit: To add my local area experience.

M21er

Edited by M21er

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Quite the opposite. Depressing conclusion where I am is that houses are selling. Almost everything I've been watching or looking at has gone. My offers have been blown out and the old 'full and final written offers' trick is at play again. In particular, all the houses for refurbishment/updating/conversion are flying off the for sale lists. Makes me sick. Over the past couple of years I have wasted over £20k on rent.

hardly wasted was it? Think of it as a premium to keep you debt free and mobile. Had you bought a house instead of renting then among other considerations

a) how much would you have actually paid off your mortgage capital ammount

B) how much would the house have depreciated by now

I am seeing a similar situation though. Anything descent in a reasonable area goes straight away.

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I'm beginning to see real signs of panic selling. Doesn't exactly align with my short-term Bullish expectations, but houses that were moderately reduced are now being priced to sell. Other houses that were withdrawn from the market are now hitting the EAs again at much reduced prices. I've only noticed this in W Wales. Haven't had time to examine other areas I'm familiar with. Anybody else seeing this?

Not seen anything remotely resembling this in South Wales, sorry to say. Quite the opposite.

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I'm beginning to see real signs of panic selling. Doesn't exactly align with my short-term Bullish expectations, but houses that were moderately reduced are now being priced to sell. Other houses that were withdrawn from the market are now hitting the EAs again at much reduced prices. I've only noticed this in W Wales. Haven't had time to examine other areas I'm familiar with. Anybody else seeing this?

Wait until the middle of winter. I've taken the view that it is best to completely ignore all property related "news" of late, we'll see the proper "news" when the market starts to become slippery/slidey again fairly soon. Most of who are left on this site know of the slide of which I'm talking. And it's going to be satisfying for all of us who have been waiting for it for literally years. It's sad, don't get me wrong. How many innocent people have been harmed in the making of this bubble. All we can do is wait. These things play out over years, which makes it difficult to see unless you stand right back from it and see the full picture. We are halfway down IMO, the sellers still ask for far too much - not always their fault, but still... their loss is the gain of he who waited correctly to buy at the bottom. Which is (thankfully) what many, with common sense, have been taught to do. The best time to buy will always be when HPI has been forgotten about. Then it will be exactly right simply because the sellers will have finally given up on their old fashioned views about their house being "worth" that much.

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Not yet, but heartwarming news. The age of the affordable house approaches.

I'm in the Cornwall land of flat, sorry luxury apartment, oversupply. I have seen two very cheap low end ones (£25k and £38k) but they're still only the first indicators of the avalanche.

25% equity share perhaps? Seems very low.

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hardly wasted was it? Think of it as a premium to keep you debt free and mobile. Had you bought a house instead of renting then among other considerations

a) how much would you have actually paid off your mortgage capital ammount

B) how much would the house have depreciated by now

I am seeing a similar situation though. Anything descent in a reasonable area goes straight away.

I have not had a mortgage for years. I'd have bought a house outright and it would have been modest, all the kids have left so no more need for a big house. Until October coming I have my funds in good fixed rates but then they start to expire. I've taken on contract work to offset the rent but I hate working intensively and it denies the work to someone who may need it more.

As for depreciation, well round here someone has deleted it. I don't deny that there has been a real fall in some areas like the daggy bits (most of) Leeds, most BD postcodes or anywhere north of the Tees. I can quote a few but it's boring.

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nothing much happening near me, same story as most of the last year or so really.

still a reasonable flow of EAs 'proudly presenting to the market' houses at peak prices or higher, with no prospect of a sale going through anytime soon. the few places that do sell are either priced sensibly or [it later emerges] sold for a long way below asking. but mostly it seems to be people either 'waiting for the recovery' before selling or putting them up for sale and holding out for peak prices with very little interest from buyers.

Edited by the flying pig

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Quite the opposite. Depressing conclusion where I am is that houses are selling. Almost everything I've been watching or looking at has gone. My offers have been blown out and the old 'full and final written offers' trick is at play again. In particular, all the houses for refurbishment/updating/conversion are flying off the for sale lists. Makes me sick. Over the past couple of years I have wasted over £20k on rent.

From Wiki.... http://en.wikipedia.org/wiki/Troll_(Internet)

Concern troll

A concern troll is a false flag pseudonym created by a user whose actual point of view is opposed to the one that the user's sockpuppet claims to hold. The concern troll posts in web forums devoted to its declared point of view and attempts to sway the group's actions or opinions while claiming to share their goals, but with professed "concerns". The goal is to sow fear, uncertainty and doubt within the group.[11]

Says it all really. Joined December 2008. No Sh!t.....

:rolleyes:

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To be honest gruff, i think west wales never really saw any falls, things just didnt sell for a few years. they seem to lag behind down there. so maybe its a good time to jump in?

very hard to say, what have you seen thats cought your eye?

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25% equity share perhaps? Seems very low.

Nope. 100% share.

£38k was flagged up on here, part of a block of four.

£25k was guide auction price for a ground floor studio.

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Buzzardo

Oh dear. Don't care for an alternative view. Well, you're stuck with it. As you don't know where I live, exactly what are you basing your criticism on? Wonder what Wikipedia says about, bigot

A bigot is a person obstinately or intolerantly devoted to his or her own opinions and prejudices, especially one who regards or treats members of a group (as a racial or ethnic group) with hatred and intolerance.

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Things look bad in the valley areas of South Wales.

This one estate agent alone has 29 "Forced Sales" listed within their 4 branches.

http://www.petermorgan.net/mainsections/bu...red_maesteg.php

I checked the most expensive one and it is for sale now at £325,000. Nethouseprices show this...

http://www.nethouseprices.com/index.php?co...&incode=9DS

"Llynfi Lodge Llynfi Road,

Maesteg,

Bridgend,

CF34 9DS £400,000

Detached

Freehold

Not New Build 30-Jul-2004

Map (CF34 9DS)"

Anyone know if, in past crashes, the poorer areas have suffered an hpc first, then the more prestigious areas followed at a later date?

Or in the past, have the better areas escaped the property crash, either altogether, or hardly crashed at all ? :unsure:

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For what its worth, The market appears stagnant to me. No panics selling, but a real feeling of no new properties listed.

I know thats generally been reported, but I would like to mirror that.

Which is why it amazes me about the reported property price increases also.

If one property is only the ONLY one property sold above asking, do we fly the fags and declare hurrah...

Or do we wonder about the effects of a market that seems to be to be locking up....and drying up.

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