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Realistbear

E As Tell Homeowners To Drop Prices

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What makes a panic seller? Most people in nice houses will ride out the storm, no?

f*cking h*ll

this is something that really really p*sses me off

we have, on this site, been elucidating and understanding points like (1) prices set at the margins and (2) market momentum/sentiment relationships, debunking b*llocks like the above as a house price driver, for literally years and years

and yet, and yet, people still come on here, spout a brief and unfounded point in a style that suggests it is obvious, they are right, and you are wrong, before p*ssing off and not addressing the first order objections that destroy the point

f*cking sheeple. grrr.

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tee - hee. I'm in the South East (near London) - viewed a place couple of weeks ago, on for 249K, offered 150K - declined, increased to 180K vendors thought about it for a couple of days & then declined. Ah, Estate agent phoned me today - they want to accept my offer!!! tee, hee. Hmm, do I want it now prices are starting to fall :rolleyes:

200 yrs old, etc, etc,

Semi-rural unmortgagable - renovation costs circa 70K...........BUT partridges wandering across back garden. hmm we'll see

And ya, if I do decide to go for it - then I will re-evaluating back to 150K.... :lol:

I have pheasants and sheep in my back garden :P . I'm paying £400 pcm rent to live in a newly renovated converted 200 yr old stable in Derbyshire, price includes gas, council tax and water :)

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No, but late last week an EA in Swansea used the word "Panic" to me when I asked what sellers reaction to the Halifax figures had been.

beautiful B)

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f*cking h*ll

this is something that really really p*sses me off

we have, on this site, been elucidating and understanding points like (1) prices set at the margins and (2) market momentum/sentiment relationships, debunking b*llocks like the above as a house price driver, for literally years and years

and yet, and yet, people still come on here, spout a brief and unfounded point in a style that suggests it is obvious, they are right, and you are wrong, before p*ssing off and not addressing the first order objections that destroy the point

f*cking sheeple. grrr.

I think you are shooting yourself in the foot by being unnecessarily rude to the bulls/apologists. You may not agree with their arguments but you need their arguments for there to be any point to the very interesting discussions on this forum.

I am a confirmed bear but i welcome the bull arguments as necessary in making up my own mind.

I also can admit that some of the bull arguments hold water. Don't forget you can score two goals and still lose the match.

If his argument is unfounded explain why. if you've argued the case before copy it from another thread.

Edited by Stickleback

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I think you are shooting yourself in the foot by being unnecessarily rude to the bulls/apologists. You may not agree with their arguments but you need their arguments for there to be any point to the very interesting discussions on this forum.

I am a confirmed bear but i welcome the bull arguments as necessary in making up my own mind.

I also can admit that some of the bull arguments hold water. Don't forget you can score two goals and still lose the match.

If his argument is unfounded explain why. if you've argued the case before copy it from another thread.

fair point - except my beef is with the lack of response to the first responses - it HAS been explained why, but the poster never retorted to that

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Sorry Pent up. I could not resist the little devil on my shoulder to blame.

How awfully rude of you! I have to admit I had to google that, I most certainly hope this sort of practice is confined to George Michael and Los Angeles.

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fair point - except my beef is with the lack of response to the first responses - it HAS been explained why, but the poster never retorted to that

Fair enough. looking at the number of posts you have, you have more reason than me to get frustrated at repeating yourself.

Let's keep shooting their arguments down.

A bull makes a good sparring partner but the matador always wins.

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To keep myself busy ( ;) )I contacted an E. London EA about a month ago. 1 bed was for sale for £194K. Although negotiable.

I asked what price the seller would be open to. EA replied that £185K or thereabouts. I said to call back when it was near £165K, then I might show interest. (said I was a CASH buyer, no chain). EA emailed me pronto saying seller could go to about £175K.

The place was bought, according to the EA, for £167K in 2006.

I'll give it another month to see how EA feels about £160K..........

10%? You can get that off a place just by sending an email. Must try harder, sellers.... B)

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How awfully rude of you! I have to admit I had to google that, I most certainly hope this sort of practice is confined to George Michael and Los Angeles.

Of course you did :lol:

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I have pheasants and sheep in my back garden :P . I'm paying £400 pcm rent to live in a newly renovated converted 200 yr old stable in Derbyshire, price includes gas, council tax and water :)

If your landlord has another or you move please PM me first.

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To keep myself busy ( ;) )I contacted an E. London EA about a month ago. 1 bed was for sale for £194K. Although negotiable.

I asked what price the seller would be open to. EA replied that £185K or thereabouts. I said to call back when it was near £165K, then I might show interest. (said I was a CASH buyer, no chain). EA emailed me pronto saying seller could go to about £175K.

The place was bought, according to the EA, for £167K in 2006.

I'll give it another month to see how EA feels about £160K..........

10%? You can get that off a place just by sending an email. Must try harder, sellers.... B)

:rolleyes: Worth no more than £60k tops. More like £35-40k. E London is WAY overpriced atm.

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:rolleyes: Worth no more than £60k tops. More like £35-40k. E London is WAY overpriced atm.

This is one of the problems of it being stupid for so long, even relatively clued up people struggle to keep perspective

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To keep myself busy ( ;) )I contacted an E. London EA about a month ago. 1 bed was for sale for £194K. Although negotiable.

I asked what price the seller would be open to. EA replied that £185K or thereabouts. I said to call back when it was near £165K, then I might show interest. (said I was a CASH buyer, no chain). EA emailed me pronto saying seller could go to about £175K.

The place was bought, according to the EA, for £167K in 2006.

I'll give it another month to see how EA feels about £160K..........

10%? You can get that off a place just by sending an email. Must try harder, sellers.... B)

The thing is if it was sold for £167k near peak he should be asking no more than about £160k in the current Market and then you should expect 10% off that so more like £145k. I think this one is a case of put the price up 20% and say your open to offers so people think they are getting a deal when in reality they're getting mugged off.

Tell the agent to call you back when he is ASKING £150k then negotiate from there. If not find somewhere less overpriced.

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I went to see three places in Kenilworth back in July, just to get a rough idea of what was available at what price.

1) 230k

2) 350k (way way way overpriced)

3) 500k

Just been on RM to check and:

1) 200k (down 13%)

2) 350k

3) 475k (down 5%)

So things are moving there. No idea whether the pressure is coming from the EAs, or whether the sellers are just getting more realistic/desperate. The 500k one will be the one to watch, as the owners were both self-employed and admitted they were struggling with payments. Was quite a nice place in its own way.... 350k and I will take it.

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This is one of the problems of it being stupid for so long, even relatively clued up people struggle to keep perspective

+1

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In 1994 it did not matter if you had five lever locks on all your doors and windows. If a house in your road sold for 25% less then your house instantly was worth 25% less. A panic seller is someone who has no option but to sell ahead of the curve. In turn this reduces the price of all the other houses in the road even more.

Ahh, that old HPC myth again. Surprising how many people on here believe it.

All you need to have is the cheapest decent house in the area and 1 willing buyer. The fact that one sold 25% cheaper the week before is immaterial (and how would you know the selling priceanyway, or whether the 'bargain' needed 50K spending on it)

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Ahh, that old HPC myth again. Surprising how many people on here believe it.

All you need to have is the cheapest decent house in the area and 1 willing buyer. The fact that one sold 25% cheaper the week before is immaterial (and how would you know the selling priceanyway, or whether the 'bargain' needed 50K spending on it)

Maybe. But if it's on the land registry then it's a very powerful bargaining tool.

Lots of bulls about lately, I like it :)

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Maybe. But if it's on the land registry then it's a very powerful bargaining tool.

Lots of bulls about lately, I like it :)

It's only on the land registry about 3 months later... I'm very bearish about prices and where they're going now, but I've also sold into a falling market and know that that 'based on the last one sold' philosophy only holds limited sway. Especially at the lower FTB end of the market, there may always be a reason for a house selling surprisingly cheaper, but it doesn't necessarily set the other prices. I sold a small 3-bed in 1993 where one a similar one a few doors down sold for 52K (very quickly, a messy divorce sale). My EA reassured my 60K asking was appropriate, and indeed I had several offers around the 57-58K and sold easily in that range. Of course that's just one anecdotal, but market going up or down, the 'one price sets the area' is only a very general guide.

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  • 225 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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