‘Unrealistic’ Sellers Are Stifling Uk Residential Property Market

[Guest The Relaxation Suite]

The first linked article mentions housepricecrash and quotes Moonriver:

http://www.mindfulmoney.co.uk/?lid=2672

http://www.guardian.co.uk/money/2010/dec/09/property-demand-rises-november-low-prices

And The Express's take on the same report:

BUYERS BACK ON THE HUNT FOR HOUSES

http://www.express.co.uk/posts/view/216343/Buyers-back-on-the-hunt-for-houses

Most sellers have got the pocket calculator out and tapped a few figures into it and discovered that because they paid X for their house they must now sell it for Y or they will lose money. So yes they are being unrealistic, but only because they paid an unrealistic sum for it in the first place. I would bet that the majority are not trying to profit, but to break even. Sadly even that is not possible in today's market, and millions of people must now accept they paid too much for their homes and they are now in the negative equity death spiral.

And waiting ten years for most not an option. English law makes moving house a total misery and no one therefore does it for fun but for a good reason. Most of these reasons cannot wait a decade.

[Mindfulmoney_M]

Most sellers have got the pocket calculator out and tapped a few figures into it and discovered that because they paid X for their house they must now sell it for Y or they will lose money. So yes they are being unrealistic, but only because they paid an unrealistic sum for it in the first place. I would bet that the majority are not trying to profit, but to break even. Sadly even that is not possible in today's market, and millions of people must now accept they paid too much for their homes and they are now in the negative equity death spiral.

And waiting ten years for most not an option. English law makes moving house a total misery and no one therefore does it for fun but for a good reason. Most of these reasons cannot wait a decade.

Hi,

It's great that one of our stories have been picked up here, and I've been reading this thread and finding some interesting comments which we are going to continue to explore in 2011, especially the problem of negative equity, which with Vat rises, interest rate rises will only get worse. In the meantime, here is an article which I believe many of you might find interesting, and which we'd love to know your views on.

"The UK mortgage market is in danger of a new type of credit crunch and indeed it appears that it has been suffering from it over the past two months. To explain this we need to go back to the height of the initial effects of the credit crunch back in 2008...."

http://www.mindfulmoney.co.uk/2732/economic-impact/the-bank-of-england-will-make-it-harder-to-get-a-mortgage-in-2011.html

[pilchardthecat]

Christmas is an opportunity for VI`s to part suckers from their cash, nothing more.

Humbug.

Were you ever a child, at all?

Christmas is only about wasting money on Chinese tat and cashing in on suckers if you're feeble-minded enough to go along with what the media and VIs want you to think.

Christmas is what you make it.

[Stella_Monster]

I dont know whether this is of any help or not.

I recently met a couple of investors that will buy houses that are in negaive equity.

Within about an hours drive of Birmingham.

I can put you in touch if required.

neilcox@tiscali.co.uk

[Saver]

Some will. The house I like most has been listed from Jan this year, at £205k. Its now on at £200k. I guess they arent that bothered about selling it. Listed with no chain too. I can see it was bought 10 years ago at £97k. So would taking £175k for it to actually get it sold be so upsetting?

Yes....I know someone who bought for 45k and won't sell for a penny less than 135k because thats how much its worth apparently....

[Tired of Waiting]

Yes....I know someone who bought for 45k and won't sell for a penny less than 135k because thats how much its worth apparently....

Acceptance is taking a long time.

I think economic reality was masked the last government's policies to re-inflate the bubble in 2008-09. I am not sure the people will ever connect the dots properly, since these dots were moved apart in time by so much.

[Rozza]

I dont know whether this is of any help or not.

I recently met a couple of investors that will buy houses that are in negaive equity.

Within about an hours drive of Birmingham.

I can put you in touch if required.

neilcox@tiscali.co.uk

Ooohh wow!! gee thanks

Yet another email to add to the "sign up to spam" list when this site gets scraped by the bots :-)