luigi Posted October 10, 2009 Share Posted October 10, 2009 (edited) Firstly, apologies for the eye-catching title, but I've been seeing things that add a bit of balance to the 'rocketing prices in Cambridge' thread. Here are the price details of a victorianised timber-framed cottage not too far from me that sold at the peak of the market in 2007, then it's owners found themselves over-extended, the bank took possession and it sold during this summer's bounce for a whopping 37.5% discount: http://www.houseprices.co.uk/e.php?q=pleasant+wattisfield&n=10 Edited October 10, 2009 by luigi Quote Link to comment Share on other sites More sharing options...
MattW Posted October 12, 2009 Share Posted October 12, 2009 Ouch! That was a pretty poor buy for the supposed developers then? Quote Link to comment Share on other sites More sharing options...
luigi Posted October 12, 2009 Author Share Posted October 12, 2009 Ouch! That was a pretty poor buy for the supposed developers then? Ouch indeed! Just had an agent ring about some weekend viewings, a bit of a change in tone since a few weeks ago. "Make an offer," she said "we're often surprised by what vendors will go for." I think things have slowed since conference season and all the talk about the dire economic prospects and cuts needed, the illusion of a quick recovery is fading. Double dip, here we come! Quote Link to comment Share on other sites More sharing options...
luigi Posted November 9, 2009 Author Share Posted November 9, 2009 And another price plummet, this time a new-build sold at the peak and sold again recently for 24% less, nothing wrong with it at all: http://www.houseprices.co.uk/e.php?q=1%2C+Mill+Close%2C+Wortham%2C+Diss%2C+Suffolk%2C+IP22+1PR&n=10 During the summer we didn't hear a dickybird but now Agents are calling up regularly, "are you still looking? is there anything that catches your eye? why don't you view it? too expensive? you can always make an offer". Buyers are getting scarce, things are slowing, low-ball offers are being considered. The only things selling now are the most keenly priced, soon be back to last winter prices. Quote Link to comment Share on other sites More sharing options...
adrianj Posted November 12, 2009 Share Posted November 12, 2009 And another price plummet, this time a new-build sold at the peak and sold again recently for 24% less, nothing wrong with it at all: http://www.houseprices.co.uk/e.php?q=1%2C+Mill+Close%2C+Wortham%2C+Diss%2C+Suffolk%2C+IP22+1PR&n=10 During the summer we didn't hear a dickybird but now Agents are calling up regularly, "are you still looking? is there anything that catches your eye? why don't you view it? too expensive? you can always make an offer". Buyers are getting scarce, things are slowing, low-ball offers are being considered. The only things selling now are the most keenly priced, soon be back to last winter prices. Looking at the two examples I take it you are from or looking in that area therefore l was Interested in reading the above about Agents - we have put an offer in today by EMAIL (there is no way I am speaking to the filth better known as EAs) on a house not far from Diss will be interested the feedback from vendors/agents as it had been reduced by £10k in the last week and we offered £7k less than the new asking. Can't say I am confident but you never know. Quote Link to comment Share on other sites More sharing options...
luigi Posted November 13, 2009 Author Share Posted November 13, 2009 (edited) Looking at the two examples I take it you are from or looking in that area therefore l was Interested in reading the above about Agents - we have put an offer in today by EMAIL (there is no way I am speaking to the filth better known as EAs) on a house not far from Diss will be interested the feedback from vendors/agents as it had been reduced by £10k in the last week and we offered £7k less than the new asking. Can't say I am confident but you never know. You're right, hope it all works out for you, it sounds like you're pretty close and things have slowed in recent weeks, be aware of the tactic that EAs use of another mystery buyer appearing who's offered more than you, it's sometimes true but not always. You're probably best to withdraw and call their bluff, unless you really love it and nothing else will do. I understand your distaste for agents and the games they play but I can't help thinking you'll get more out of them (they'll work hard on the vendor to close the gap between your offer and his expectations) if you are amiable towards them. Most of the agents here play it by the book, a bit of shenanigans is seen as fair game, but in a small town you can't be a shark and get away with it for long. Edited November 13, 2009 by luigi Quote Link to comment Share on other sites More sharing options...
adrianj Posted November 13, 2009 Share Posted November 13, 2009 You're right, hope it all works out for you, it sounds like you're pretty close and things have slowed in recent weeks, be aware of the tactic that EAs use of another mystery buyer appearing who's offered more than you, it's sometimes true but not always. You're probably best to withdraw and call their bluff, unless you really love it and nothing else will do. I understand your distaste for agents and the games they play but I can't help thinking you'll get more out of them (they'll work hard on the vendor to close the gap between your offer and his expectations) if you are amiable towards them. Most of the agents here play it by the book, a bit of shenanigans is seen as fair game, but in a small town you can't be a shark and get away with it for long. Cheers for the advice - you are right I must be amiable towards them (although it should be noted that I am no actor so it will be hard!!). Unfortunately I have received an email back from the agent (09:05hrs today) asking me to phone them asap so it looks as if I am going to have to play the actor - well I guess the offer has not been dismissed totally out of hand otherwise I would not have been ask to call. I will call later this afternoon as I don't want to be seen as too keen. Quote Link to comment Share on other sites More sharing options...
luigi Posted November 13, 2009 Author Share Posted November 13, 2009 Cheers for the advice - you are right I must be amiable towards them (although it should be noted that I am no actor so it will be hard!!). Unfortunately I have received an email back from the agent (09:05hrs today) asking me to phone them asap so it looks as if I am going to have to play the actor - well I guess the offer has not been dismissed totally out of hand otherwise I would not have been ask to call. I will call later this afternoon as I don't want to be seen as too keen. Treat 'em mean, keep 'em keen! Sounds like they want to sound out your financial position/ book you in to see the in-house mortgage advisor. Keep us posted as to how it turns out. Quote Link to comment Share on other sites More sharing options...
adrianj Posted November 15, 2009 Share Posted November 15, 2009 Treat 'em mean, keep 'em keen! Sounds like they want to sound out your financial position/ book you in to see the in-house mortgage advisor. Keep us posted as to how it turns out. Up date - I phoned the EA at 14:30 Fri, oddly seemed like a normal person, he just wanted to confirm the details within the offer letter and take a few other details. I then received 3 calls from him during the afternoon trying to get me to up the offer last one being at 18:15 to tell me that the original offer had been accepted. Quote Link to comment Share on other sites More sharing options...
luigi Posted November 15, 2009 Author Share Posted November 15, 2009 Up date - I phoned the EA at 14:30 Fri, oddly seemed like a normal person, he just wanted to confirm the details within the offer letter and take a few other details. I then received 3 calls from him during the afternoon trying to get me to up the offer last one being at 18:15 to tell me that the original offer had been accepted. Well done for standing firm, what was he saying to get you to up the offer? Do you think you got a good deal? Quote Link to comment Share on other sites More sharing options...
adrianj Posted November 16, 2009 Share Posted November 16, 2009 Well done for standing firm, what was he saying to get you to up the offer? Do you think you got a good deal? To be fair he was not really pushy about up-ing the offer - he just doing what the vendors wanted, I made it clear from the outset that the offer price would be our final price - when asked the second time about up-ing the offer I did mention that any further calls regarding the price would result in me walking away. Did I get a good deal? - well it is always subjective - many people on this site would say no - but we are happy with it - life is quite simple you pay your money and take your pick When we finally get a completion date I will send you a PM with all the details Quote Link to comment Share on other sites More sharing options...
waitingandsaving Posted November 17, 2009 Share Posted November 17, 2009 Congratulations Adrianj! Hope all goes smoothly with the sale. If it's the right house to make into your home, and you offered what you considered a fair price to all concerned, then you've got a great deal! Keep us posted on how things are progressing, and whether the Ea is reasonable for the whole transaction! Quote Link to comment Share on other sites More sharing options...
MattW Posted November 17, 2009 Share Posted November 17, 2009 Ditto what W& S said - congratulations, Adrian! Quote Link to comment Share on other sites More sharing options...
adrianj Posted November 19, 2009 Share Posted November 19, 2009 What nice people you are, I was fully expecting a hammering!! Nothing to report yet but I will keep up dating as it progresses. I still believe it will fall in price but to be honest I / we have had enough of waiting & its what WE want in the way of a house so no laughing when I put the details up!! Quote Link to comment Share on other sites More sharing options...
MattW Posted November 19, 2009 Share Posted November 19, 2009 What nice people you are, I was fully expecting a hammering!! I would be a hyppocrite if I did object - I got on the property ladder 5 years ago. Quote Link to comment Share on other sites More sharing options...
waitingandsaving Posted November 20, 2009 Share Posted November 20, 2009 What nice people you are, I was fully expecting a hammering!! Nothing to report yet but I will keep up dating as it progresses. I still believe it will fall in price but to be honest I / we have had enough of waiting & its what WE want in the way of a house so no laughing when I put the details up!! No hammering round these parts - it's not the main forum!! If you're buying a house for a home, and it's what you're looking for, then it's all good (especially if what you want in a house doesn't match up with what I'm after - less competition that way!) If and when somewhere that's right for us turns up, then I think we'll be buying too - I've started perusing RightMove again... Quote Link to comment Share on other sites More sharing options...
luigi Posted November 21, 2009 Author Share Posted November 21, 2009 I would be a hyppocrite if I did object - I got on the property ladder 5 years ago. Same here, I got on 15 years ago when I got married, can you believe it was cheaper to buy than to rent back then? And yet there was no compulsion to buy, so many had their fingers burnt in property in the previous 5 years. I had the notion observed from parent's experience that it made sense to own (mortgaged) if you were planning to stay put for a while. as it turned out, it was the right decision at that time, even though prices kept falling slowly until '96. We got off the ladder this summer during the bounce at around 8% off peak price, as we were growing out of the house. We missed one that we liked and couldn't find anything else, this coincided with a friend offering us to rent one of his houses on favourable and flexible terms. We were hoping to buy back in this winter as the bounce runs out of steam with the advantage of being chain-free, I'm still hopeful for this. We are now looking in earnest. Quote Link to comment Share on other sites More sharing options...
adrianj Posted December 10, 2009 Share Posted December 10, 2009 (edited) Keep us posted on how things are progressing, and whether the Ea is reasonable for the whole transaction! I previously stated seemed like a normal person however I can now confirm he is a top of the range c**k!! More to follow Edited December 10, 2009 by adrianj Quote Link to comment Share on other sites More sharing options...
luigi Posted December 10, 2009 Author Share Posted December 10, 2009 I previously stated seemed like a normal person however I can now confirm he is a top of the range c**k!! More to follow Uh oh! What's gone wrong? Quote Link to comment Share on other sites More sharing options...
MattW Posted December 10, 2009 Share Posted December 10, 2009 Ooh - prey tell, Adrian! Quote Link to comment Share on other sites More sharing options...
adrianj Posted December 11, 2009 Share Posted December 11, 2009 (edited) Initially slow progress with mortgage company resulted in the c**k stating "the sale was only agreed as I believed you were a cash buyer" - at NO point did I state I was or not a cash buyer 4 phone calls to the c**k last week trying to nail the vendors down to a completion date - not once did the c**k get back to me Numerous other bits, which may be petty to some but not to me. Maybe on reflection no different to the total and utter incompetence I have to deal with on a daily basis at work Edited December 11, 2009 by adrianj Quote Link to comment Share on other sites More sharing options...
adrianj Posted December 11, 2009 Share Posted December 11, 2009 Completed. Bought a second hand one of these: http://www.persimmonhomes.com/regions/anglia/sancroft-square/the-richmond-plot24.aspx Not exactly the same though - rather than having a built in garage our one has a drive through to the garage therefore 2 cars on the drive and another one in the garage No laughing at the back!! Its what we want, garage (for my beautiful escort!!) & downstairs study (for my DJing / record obsession) & the rest of the house for the wife - each to their own as they say. Price? You guess!! Quote Link to comment Share on other sites More sharing options...
MattW Posted December 11, 2009 Share Posted December 11, 2009 No laughing at the back!! Its what we want, garage (for my beautiful escort!!) & downstairs study (for my DJing / record obsession) & the rest of the house for the wife - each to their own as they say. Congratulations! I'd really like my next property to have some off road parking and ideally a garage. I'd like to have an old classic car as well as a boring commuter car at some stage. My mate has a Escort like yours in your avatar. His is the limited edition 'Finesse' version in black with alloy wheels. He really cherishes it. As for the EA, surely one of the things he should have established from the offset is whether you are going to pay by cash or take out a mortgage. Mind you, I suspect that, like in a lot of commission-based jobs, his brains are probably where his balls should be. Quote Link to comment Share on other sites More sharing options...
adrianj Posted December 11, 2009 Share Posted December 11, 2009 Congratulations! I'd really like my next property to have some off road parking and ideally a garage. I'd like to have an old classic car as well as a boring commuter car at some stage. My mate has a Escort like yours in your avatar. His is the limited edition 'Finesse' version in black with alloy wheels. He really cherishes it. As for the EA, surely one of the things he should have established from the offset is whether you are going to pay by cash or take out a mortgage. Mind you, I suspect that, like in a lot of commission-based jobs, his brains are probably where his balls should be. Thanks Matt Tthe garage is great, pitched roof planks across the beams loads of storage and still loads of room for the motor. Glad to hear I am not the only sado who loves his Escort. Right, better load the van up Quote Link to comment Share on other sites More sharing options...
waitingandsaving Posted December 12, 2009 Share Posted December 12, 2009 Congratulations Adrianj! Hope everything goes smoothly with the move - the thought of using the garage for a car is novel! Quote Link to comment Share on other sites More sharing options...
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