Had An Estate Agent Call Me Today

[cypher007]

im on the market, but havent sold yet. then today i get a call from an agent weve viewed a four bed house through:

he says maybe i should drop my price

i say yes but i need a certain amount from my existing property to buy the next

he says yes but some four bed properties are selling at lower prices now

i think strangley enough most of the ones people dont want

he says the property we veiwed has sold

i say yes we would have only offered £155k (it was up for £180k)

he says they were offered more than that

so there we are then im thinking to myself

yes if youve got a house in an area where no one wants to live then the price will be lower

i said to him i would probably stay on the market for another two years before buying, as the stamp duty goes back up in December and house prices will be 20-25% lower in two years time

he says i cant see that happening from where hes sitting.

well maybe maybe not, but the fact he phoned a buyer who hasnt even sold yet says it all, i think this winter is going to be hard on agents.

[51%deposit]

no one ever calls me

its a conspiracy

[Tin Foil Hat]

My mate in Worthing is an extreme example of the mentality at the moment.

They bought in 2003 for 215k (terraced 3 bed).

They want to move to bigger house in the nicer outskirts due to hardcore Catholicism's effects.

They want a house which they will get 20-30% off.

They refuse all offers on theirs which are >5% off as theirs has been valued at 220ish, which is crap for all the gains elsewhere.

They haven't moved

TFH

[libspero]

no one ever calls me

its a conspiracy

Maybe you sound too common

[BLOW FLY]

im on the market, but havent sold yet. then today i get a call from an agent weve viewed a four bed house through:

he says maybe i should drop my price

i say yes but i need a certain amount from my existing property to buy the next

he says yes but some four bed properties are selling at lower prices now

i think strangley enough most of the ones people dont want

he says the property we veiwed has sold

i say yes we would have only offered £155k (it was up for £180k)

he says they were offered more than that

so there we are then im thinking to myself

yes if youve got a house in an area where no one wants to live then the price will be lower

i said to him i would probably stay on the market for another two years before buying, as the stamp duty goes back up in December and house prices will be 20-25% lower in two years time

he says i cant see that happening from where hes sitting.

well maybe maybe not, but the fact he phoned a buyer who hasnt even sold yet says it all, i think this winter is going to be hard on agents.

That just hurts the eyes......

BF

[TheCountOfNowhere]

no one ever calls me

its a conspiracy

What's your number ?

[Guest happy?]

My mate in Worthing is an extreme example of the mentality at the moment.

They bought in 2003 for 215k (terraced 3 bed).

They want to move to bigger house in the nicer outskirts due to hardcore Catholicism's effects.

They want a house which they will get 20-30% off.

They refuse all offers on theirs which are >5% off as theirs has been valued at 220ish, which is crap for all the gains elsewhere.

They haven't moved

TFH

Is the Pope behind HPI?

[LuckyOne]

Is the Pope behind HPI?

Or no birth control = 7 kids = the need for at least 4 bedrooms ....

[TheCountOfNowhere]

People really should learn not to believe a word estate agents say and to haggle when you're spending your hard earned cash and 25 years of future income.

[eric pebble]

People really should learn not to believe a word estate agents say and to haggle when you're spending your hard earned cash and 25 years of future income.

Hey!? Estate Agents are really, really honest. They're really intelligent too! In fact - they're full of integrity - and they're never greedy.

Not.

[RandomBear]

Anecdote =/= data

[babesagainstmachines]

Anecdote =/= data

That anecdote says to me that estate agents have time on their hands again

[Deckard]

Or no birth control = 7 kids = the need for at least 4 bedrooms ....

[doomandgloom2]

I cant wait for the reintroduction of stamp duty as I`m in the market for 130-150K property.

[CHF]

no one ever calls me

its a conspiracy

beat me to it libspero.

hint - its cos your a bit of a wally

[cypher007]

I cant wait for the reintroduction of stamp duty as I`m in the market for 130-150K property.

im looking at £180k houses to offer £150k, so im dreading the stamp duty threshhold drop.

[FortuneFTB]

Anyone else got any interesting anecdotes ?

[abharrisson]

im on the market, but havent sold yet. then today i get a call from an agent weve viewed a four bed house through:

he says maybe i should drop my price

i say yes but i need a certain amount from my existing property to buy the next

he says yes but some four bed properties are selling at lower prices now

i think strangley enough most of the ones people dont want

he says the property we veiwed has sold

i say yes we would have only offered £155k (it was up for £180k)

he says they were offered more than that

so there we are then im thinking to myself

yes if youve got a house in an area where no one wants to live then the price will be lower

i said to him i would probably stay on the market for another two years before buying, as the stamp duty goes back up in December and house prices will be 20-25% lower in two years time

he says i cant see that happening from where hes sitting.

well maybe maybe not, but the fact he phoned a buyer who hasnt even sold yet says it all, i think this winter is going to be hard on agents.

Then again if you are just asking an unrealistic sum so that you'll be able to spend an unreallistic sum on the next place then maybe the agent has a half decent point... you should market your house at a rate at which it will sell, and then wait two years and then buy when the market in your estimation has dropped by 20-25%. Its unreallistic to expect people to buy yours at an inflated price and then hope to find someone who would accept 20-25% off now.

I suspect the fact they sold the house you were interested in for much more than you would be willing to pay shows that your currient pricing radar is way out of wack..... I'm not saying of course that house prices aren't currently overvalued , just that if you want to sell in this market you need a strategy that works...... yours currently doesn't seem to have much chance of working and maybe the obvious alternative of selling and renting doesn't appeal.. in which I expect you possibly won't move for perhaps years.

[Mildura]

<snip>

i said to him i would probably stay on the market for another two years before buying,

<snip>

Why would anyone want to have their house on the market for 2 years?

Surely it's better to take it off the market, go and do something more interesting for the next couple of years then think about moving when prices adjust to your expectations.

At present where I am, the rule is; if it hasn't sold in the first 4 weeks of marketing, it's overpriced.

Whether the seller agrees, or does anything about it, is a different matter.

[peahead]

EA called us after being v. quiet for ages

called about 2 houses

one on busy road - no good and well overpriced

the other - tried to view ages ago but they apparently changed their mind about selling and took it off - EA now asks if we are interested and says it should really be on at £250k even though they are marketing it at £290k

I don't see any sold boards at the mo and sod all coming to market - think it's all stopped again...

once VAT goes back to 17.5%, currency deflates, unemployment goes even higher, stamp duty reinstated and loads of other negatives, think vendors are really fooked this time...

but then again, there's always this sort of ******** to make you feel more positive about things!!

A riddle wrapped in a mystery inside an enigma

Howard Davis of CJ Hole (Clifton) looks into the puzzling state of the property market this autumn and finds that, despite the conflicting signs, there is reason to be very optimistic.

What exactly is happening to the property market at the moment? In many parts of the UK August has been one of the most active on record and this following a rather busy July. So, after the dark and dreadful credit crunch months, what on earth is going on? After all the ‘property experts’ seem to think that the market could take years to pick up again.

This underlines the fact that nobody can really be a true expert forecaster in property. We can expertly deal with the market we are in, and skilfully help buyers and sellers to make the best of the prevailing conditions. But to try and out-guess the property market is an entirely different proposition.

So if we aren’t going to be foolish enough to try to foretell the future, at least we can try to understand the present. What the gurus couldn’t factor in was the behaviour of the British house buyer and seller. Neither group is silly. Homeowners understand that there is a strong chance the market has hit the bottom and now the only way is up. So the longer they wait the more they may get for their property. Buyers, on the other hand, are keen to buy now as they anticipate that this is the perfect time to purchase. Indeed, latest figures show that residential property is now at its most affordable for thirteen years.

The recent property activity is a riddle, and the mystery of where things will go next does lie within the enigma that is the market. But one thing we do know: those astute buyers and sellers do understand a thing or two about supply and demand. Reluctant sellers mean a dearth of property coming onto the market and that, in turn, is stimulating a level of activity that is now causing competition between many buyers. Hence the recent surge in property activity. In some areas this means multiple offers and even rising prices.

So, what a great position to be in; Don’t sell and you will make money, buy now and you will make money. It’s win-win and that is a concept that should be no riddle, mystery or enigma to anyone.

Howard Davis

Managing Director CJ Hole (Clifton)

[cypher007]

Why would anyone want to have their house on the market for 2 years?

Surely it's better to take it off the market, go and do something more interesting for the next couple of years then think about moving when prices adjust to your expectations.

At present where I am, the rule is; if it hasn't sold in the first 4 weeks of marketing, it's overpriced.

Whether the seller agrees, or does anything about it, is a different matter.

im avoiding the stealth HIPS tax.

[cypher007]

Then again if you are just asking an unrealistic sum so that you'll be able to spend an unreallistic sum on the next place then maybe the agent has a half decent point... you should market your house at a rate at which it will sell, and then wait two years and then buy when the market in your estimation has dropped by 20-25%. Its unreallistic to expect people to buy yours at an inflated price and then hope to find someone who would accept 20-25% off now.

I suspect the fact they sold the house you were interested in for much more than you would be willing to pay shows that your currient pricing radar is way out of wack..... I'm not saying of course that house prices aren't currently overvalued , just that if you want to sell in this market you need a strategy that works...... yours currently doesn't seem to have much chance of working and maybe the obvious alternative of selling and renting doesn't appeal.. in which I expect you possibly won't move for perhaps years.

i cant see how wanting £90k+ for a 3 bed semi is unreasonable, when on the same estate one sold at the end of 2008 for £120k. what i think is unreasonable is asking for £180k for a 4 bed detached.

im not going to STR as im not convinced totally, after waiting over a year for an HPC to happen, that it will ever happen. in this area the only prices i see falling are on houses at the bottom of the chain, like my 3 bed semi, the 3 bed detached properties and upward are currently holding there value, propped up by some wierd buying activity. so if i STRed i would quickly use up money, as rental is about £500 for a 3 bed semi here, and i wouldnt be able to get it back because the house we want to buy will have fallen by a relatively small amount. at the end of the day a 5% drop on a £180k house is not going to save me much.

were waiting a couple of years for two reasons:

hopefully we can buy a 4 bed detached by then for about £120k, thus avoiding stamp duty.

our house will have fallen in value also, but the gap should be smaller than it is currently, as back in 1999 when i bought my house 3 bed semi's were about £38k and 4 bed detached were about £90k.

[cypher007]

Why would anyone want to have their house on the market for 2 years?

Surely it's better to take it off the market, go and do something more interesting for the next couple of years then think about moving when prices adjust to your expectations.

At present where I am, the rule is; if it hasn't sold in the first 4 weeks of marketing, it's overpriced.

Whether the seller agrees, or does anything about it, is a different matter.

4 weeks . wow here the average time on market is about 300 days.

[tomwatkins]

EA called us after being v. quiet for ages

called about 2 houses

one on busy road - no good and well overpriced

the other - tried to view ages ago but they apparently changed their mind about selling and took it off - EA now asks if we are interested and says it should really be on at £250k even though they are marketing it at £290k

I don't see any sold boards at the mo and sod all coming to market - think it's all stopped again...

once VAT goes back to 17.5%, currency deflates, unemployment goes even higher, stamp duty reinstated and loads of other negatives, think vendors are really fooked this time...

but then again, there's always this sort of ******** to make you feel more positive about things!!

A riddle wrapped in a mystery inside an enigma

Howard Davis of CJ Hole (Clifton) looks into the puzzling state of the property market this autumn and finds that, despite the conflicting signs, there is reason to be very optimistic.

What exactly is happening to the property market at the moment? In many parts of the UK August has been one of the most active on record and this following a rather busy July. So, after the dark and dreadful credit crunch months, what on earth is going on? After all the ‘property experts’ seem to think that the market could take years to pick up again.

This underlines the fact that nobody can really be a true expert forecaster in property. We can expertly deal with the market we are in, and skilfully help buyers and sellers to make the best of the prevailing conditions. But to try and out-guess the property market is an entirely different proposition.

So if we aren’t going to be foolish enough to try to foretell the future, at least we can try to understand the present. What the gurus couldn’t factor in was the behaviour of the British house buyer and seller. Neither group is silly. Homeowners understand that there is a strong chance the market has hit the bottom and now the only way is up. So the longer they wait the more they may get for their property. Buyers, on the other hand, are keen to buy now as they anticipate that this is the perfect time to purchase. Indeed, latest figures show that residential property is now at its most affordable for thirteen years.

The recent property activity is a riddle, and the mystery of where things will go next does lie within the enigma that is the market. But one thing we do know: those astute buyers and sellers do understand a thing or two about supply and demand. Reluctant sellers mean a dearth of property coming onto the market and that, in turn, is stimulating a level of activity that is now causing competition between many buyers. Hence the recent surge in property activity. In some areas this means multiple offers and even rising prices.

So, what a great position to be in; Don’t sell and you will make money, buy now and you will make money. It’s win-win and that is a concept that should be no riddle, mystery or enigma to anyone.

Howard Davis

Managing Director CJ Hole (Clifton)

WTF?? WTF??? WTF???

Dear Prat Davies

Stay in house at 150K-price falls 10%-equity loss 15K. Buy 300K property fall 10%-loss is??? C'mon man tell me. Win win my big fat ass.

[Mildura]

im avoiding the stealth HIPS tax.

Don't worry, this time next year HIPs will hopefully have been abolished!