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Spirit

End Of Denial?

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My house has been on the Market since last September and only now looking like like exchanging contracts. I too had lots of moments in that year when i felt that it was never going to happen.

In the end I put the house on with 5 agents @ 1.75% and reduced the price by 15k and then accepted an offer 10k below that. The only houses that sell in our area this year have been the bargains, in fact I believe this is nationwide which would obviously suggest that most of our houses are over priced. It was all very well me sitting back and refusing silly offers but if we had carried on like that we were never going to get to Australia.

This has made an enormous dent in the deposit we thought we would have as we only bought this house 3 years ago and what with fees for both buying it and now selling it and the money spent on it we have hardly made a thing and not even recovered the Mortgage payments made in those three years but just felt so desperate to get out of limbo and on with our lives.

I sincerely hope that things look up for you very soon I really do, I don't envy any of you waiting to sell your house.

I am not out of the woods yet and am stressing out and waiting to exchange contracts which should of happened last week.

Sentiment seems to be changing from denial/anger to resignation.

http://britishexpats.com/forum/showthread....3&page=74&pp=15

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I like there comment anout having hardly made a thing on their house and that they had expected to make enough to cover the mortgage payments since moving in!

So they expected to live for free (apart from bills etc)!!!

Excuse me while I don't feel any sympathy for their 'loss' :lol:

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I am feeling cross with it all this evening..

Idiots only now realising that they had not made money from thin air..

Where in gods green earth did they think it came from?

Leaving the country for hotter climbs.. that I can understand..

Expecting to make thousands from some kindly soul who is willing to say.. "That pile of bricks...Obviously someone wants to pay vastly more then we did.. because we had all of the bricks replaced with ones made from gold.."

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Guest Bart of Darkness
which would obviously suggest that most of our houses are over priced

You think so?

:rolleyes:

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i am sure they are newsworthy enough to be able to trace the blame right down to gordon brown.

and then watch their aussie dreams crash around them as the cardboard prop falls down leaving their wealth as it should be. unbolstered by the young.

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"The only houses that sell in our area this year have been the bargains"

Almost, but not quite. The only houses to sell were those priced at a point that the market could support; hardly 'bargains'.

Edited by SE1

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And if they exercised their brain cells just a bit more, they might even realise that today's bargain will be tomorrow's market level

'Chasing the market down'

During the last crash a friend of mine put his house on the market for £295K (a lot of money then). It didn't sell and he dropped the price incrementally several times - but always by too small an amount. Eventually he became a forced seller due to divorce and the house sold for £180K.

Had he priced sensibly in the first place, I had advised £250K, he would probably have achieved £230-240K.

We will see much of this 'chasing down' over the coming year as vendors remain in denial.

Edited by Red Baron

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It was all very well me sitting back and refusing silly offers but if we had carried on like that we were never going to get to Australia.

This has made an enormous dent in the deposit we thought we would have as we only bought this house 3 years ago and what with fees for both buying it and now selling it and the money spent on it we have hardly made a thing and not even recovered the Mortgage payments made in those three years but just felt so desperate to get out of limbo and on with our lives.

Now don't get me wrong but unless they intended to move to Australia as empire landlords and live off the fat of the land, then they are going to be quite OK. Australian house prices are dropping well faster than British ones, so they will probably increase their equity in the Australian property between now and the time that they exchange contracts. They may even be better off!!!

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'Chasing the market down'

During the last crash a friend of mine put his house on the market for £295K (a lot of money then).

"...a lot of money THEN" ???????

Don't know about you, pal, but in my eyes, it's a lot of money NOW!!!!

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'Chasing the market down'

During the last crash a friend of mine put his house on the market for £295K (a lot of money then). It didn't sell and he dropped the price incrementally several times - but always by too small an amount. Eventually he became a forced seller due to divorce and the house sold for £180K.

Had he priced sensibly in the first place, I had advised £250K, he would probably have achieved £230-240K.

We will see much of this 'chasing down' over the coming year as vendors remain in denial.

at the start of the last crash ( well 1989) my company asked me to reolcate from east sussex to the midlands.

they wanted me to get settled quickly and they gave me a bridging loan against the value of the house i was selling for £125000, which wa swhat the EAs valued it at.

i bought a new home in the midlands and by the time we were ready to move the market was stalling.

i suggested to my company that they take a £5000 hit to shift the house quickly.

they declined, believing that the market would recover.

18 months later they wanted me to move back to sussex and offered a bridging loan again.

problem was that the first place still hadnt sold.

they eventually took a £40,000 hit to move the place in e sussex.

and no i did not bridge a second time. i sold my midlands place before i bought again in sussex.

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  • 334 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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