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Anyone Tried To Sell Their House Recently ?

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When I was selling our home in the depths of the panic of late 2008 agents were fully on board with the doom + gloom, with some crazy low valuations telling me that if I wanted to sell I should get my price down and hold on for a bumpy ride. That wasn't just one agent, but three.

Has anyone had an agent round to value their property recently, what's the scuttlebutt ?

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An Agent I saw this morning enquired as to my buy price.

I said I have this and want this type.

He said its do-able....we are just about there.

I said, well, if not Ill wait...he said...you wont have to wait long...the market is "correcting"...fast.

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Excellent!!

Particularly liked this guy

#5888 Jackinbox99 04-01-2011, 4:26 PM

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Well, I was so fed up of the useless EA who was trying to sell my house I told them I didnt want to use them any more. They agreed it was a 7 day notice period, so they would take the board down, remove my details from right move and give me my keys back.

That was 4 weeks back! House is still on rightmove and board still up. Sigh.

So I ring to chase them today and they then inform me that the person who made me an offer 2 months or more back for 10k under what i wanted, id reluctantly accepted as I felt sorry for him, and then he changed his mind - has spent the last 2 months looking at other properties and cant find any as good as mine. Apparently he`s still interested and would be prepared to now pay me 15k under what I wanted!!! Cheeky git!

Anyhow, the old EA now should be taking my details down over next 2 days so I can get the new EA in and taking pictures.

#5892 Jackinbox99 06-01-2011, 10:21 AM

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I hear what you are saying, and did think about it. The reports I read said that house prices had fell by about 2% in total since November. Based on that, my house should have only dropped in value by about £2k, so an offer of £15k under is quite a big jump. The potential buyer is effectively saying he feels the house has decreased in value by £5k in the last month alone! Personally I know he is just trying his luck. He said that he couldnt find any houses as good as mine, and certainly not with such a big plot of land and a double garage, and then comes back with a lower offer.

It is a tough decision. The new EA has just sold 3 houses in my area for very near the asking price, and feels mine is underpriced already at what I have advertised it for. Of course, I wont know until I try him out. And, if I was to accept the other guys offer, whats to say he wont change his mind and back out again in a few weeks time. So, seems to be a rock & a hard place.

Personally I dont understand what the problem is. As a buyer, I bought my new house 8 weeks ago, I didnt worry about prices dropping too much. I looked at the market values for houses, what they were currently selling for and made an offer based upon that which was accepted. All went through okay, and nice simple process - both parties happy. And yet the buyers for my old house seem to be looking at the market values, then offering 20k less! Maybe I should have done the same? Or maybe people in my area are too fussy.

CLASSIC!!

Edit:spooling

Edited by Maddog21

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Excellent!!

Particularly liked this guy

#5888 Jackinbox99 04-01-2011, 4:26 PM

MoneySaving Stalwart

Join Date: Apr 2010

Posts: 387

Thanked 171 Times in 137 Posts

--------------------------------------------------------------------------------

Well, I was so fed up of the useless EA who was trying to sell my house I told them I didnt want to use them any more. They agreed it was a 7 day notice period, so they would take the board down, remove my details from right move and give me my keys back.

That was 4 weeks back! House is still on rightmove and board still up. Sigh.

So I ring to chase them today and they then inform me that the person who made me an offer 2 months or more back for 10k under what i wanted, id reluctantly accepted as I felt sorry for him, and then he changed his mind - has spent the last 2 months looking at other properties and cant find any as good as mine. Apparently he`s still interested and would be prepared to now pay me 15k under what I wanted!!! Cheeky git!

Anyhow, the old EA now should be taking my details down over next 2 days so I can get the new EA in and taking pictures.

#5892 Jackinbox99 06-01-2011, 10:21 AM

MoneySaving Stalwart

Join Date: Apr 2010

Posts: 387

Thanked 171 Times in 137 Posts

--------------------------------------------------------------------------------

I hear what you are saying, and did think about it. The reports I read said that house prices had fell by about 2% in total since November. Based on that, my house should have only dropped in value by about £2k, so an offer of £15k under is quite a big jump. The potential buyer is effectively saying he feels the house has decreased in value by £5k in the last month alone! Personally I know he is just trying his luck. He said that he couldnt find any houses as good as mine, and certainly not with such a big plot of land and a double garage, and then comes back with a lower offer.

It is a tough decision. The new EA has just sold 3 houses in my area for very near the asking price, and feels mine is underpriced already at what I have advertised it for. Of course, I wont know until I try him out. And, if I was to accept the other guys offer, whats to say he wont change his mind and back out again in a few weeks time. So, seems to be a rock & a hard place.

Personally I dont understand what the problem is. As a buyer, I bought my new house 8 weeks ago, I didnt worry about prices dropping too much. I looked at the market values for houses, what they were currently selling for and made an offer based upon that which was accepted. All went through okay, and nice simple process - both parties happy. And yet the buyers for my old house seem to be looking at the market values, then offering 20k less! Maybe I should have done the same? Or maybe people in my area are too fussy.

CLASSIC!!

Edit:spooling

Your house is only worth as much as someone is prepared to pay for it!

BTW, I'm a home owner, not a renter. Just readjusting the mindset that's all.

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Your house is only worth as much as someone is prepared to pay for it!

BTW, I'm a home owner, not a renter. Just readjusting the mindset that's all.

Spoke to an agent last week. Price said would get was more than valuations in 2006. Said people on books . Sold one in october. dropped price lower than agent expected to sell it. still was around 2006 price. house up the road from it didnt sell because they wanted 10 more than me. eventually removed from sale, but they paid more than me.

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Your house is only worth as much as someone is prepared to pay for it!

BTW, I'm a home owner, not a renter. Just readjusting the mindset that's all.

To be honest, any rational home (part) owner would just want prices to stay roughly in line with overall inflation. Borrowing money against your house - especially to fuel consumption - is rarely a good idea, yet it was widely advertised (as the 'Equity withdrawal' urk).

For instance, I bought at £105k in 2000; by 2006 the price was up to £170k. In theory, that meant that £65k has appeared for me with no effort made. In practice, it meant sweet FA since I still have to live somewhere. That without the whole bubble-collapsing economic disintegration thing going on.

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Your house is only worth as much as someone is prepared to pay for it!

BTW, I'm a home owner, not a renter. Just readjusting the mindset that's all.

No.....Your house is only worth as much as someone is able to borrow for it.

When the money was in free-flow, people paid the price of the available credit...over and above it's true value, worth and affordibility.

...all that is happening now is the readjustments are being fed back into the market...not rocket science. ;)

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Spoke to an agent last week. Price said would get was more than valuations in 2006. Said people on books . Sold one in october. dropped price lower than agent expected to sell it. still was around 2006 price. house up the road from it didnt sell because they wanted 10 more than me. eventually removed from sale, but they paid more than me.

The key to the current predicament that we are in is the artificially low IR. We have to wait until the BOE (nope the Fed, as MK has no clue will simply follow) stops QE2 and raises it slowly.

If inflation takes off, then the Fed will have no choice but to raise IR. Inflation is no longer an intra-country issue. We are all fighting for the same resources now in this globally connected enconomy.

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No.....Your house is only worth as much as someone is able to borrow for it.

When the money was in free-flow, people paid the price of the available credit...over and above it's true value, worth and affordibility.

...all that is happening now is the readjustments are being fed back into the market...not rocket science. ;)

Not entirely correct. Some of us are not heavily leveraged (as the case for many BTL landlords). Unless the price is lowered, there is no point is jumping in as there is little profit. You can see this in the recenty report difference between auction prices and EA prices.

A lot of pople on this site are here only because they feel they have been priced out of the market. Once they have brought, they would like nothing but the price to sky rocket. In fact high prices is affecting the global enconomy. An adjustment is required otherise it will not be a housepricecrash but a depression or war.

Edited by 888

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Not entirely correct. Some of us are not heavily leveraged (as the case for many BTL landlords). Unless the price is lowered, there is no point is jumping in as there is little profit. You can see this in the recenty report difference between auction prices and EA prices.

A lot of pople on this site are here only because they feel they have been priced out of the market. Once they have brought, they would like nothing but the price to sky rocket. In fact high prices is affecting the global enconomy. An adjustment is required otherise it will not be a housepricecrash but a depression or war.

So...in a 'chain' someone is at the end of it is either a high loan to value borrower(bank) or a low leveraged/unencumbered buyer....none of them I would have thought would want to pay top price when they don't have to. ;)

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Particularly liked this guy

#5892 Jackinbox99 06-01-2011, 10:21 AM

MoneySaving Stalwart

--------------------------------------------------------------------------------

I hear what you are saying, and did think about it. The reports I read said that house prices had fell by about 2% in total since November. Based on that, my house should have only dropped in value by about £2k, so an offer of £15k under is quite a big jump. The potential buyer is effectively saying he feels the house has decreased in value by £5k in the last month alone! Personally I know he is just trying his luck.

This guy's post stood out to me too.

This looks like an example of a seller who is paying too much attention to that positve spin on house price statistics, that those VI's try to keep churning out each month.

He may soon regret not gviing careful consideriation to a possible offer from a buyer, in an environment of a falling market, short of potential buyers.

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So...in a 'chain' someone is at the end of it is either a high loan to value borrower(bank) or a low leveraged/unencumbered buyer....none of them I would have thought would want to pay top price when they don't have to. ;)

Exactly, full circle. Comes back to my original comment. 'It's only worth as much as someone is willing to pay for it.'

In the USA there are many newly built properties being pulled down to avoid land tax, simply because no one is interested for love or mney.

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No.....Your house is only worth as much as someone is able to borrow for it.

When the money was in free-flow, people paid the price of the available credit. used LIAR LOANS to pay over and above it's true value, worth and affordibility.

...all that is happening now is the readjustments are being fed back into the market...not rocket science. ;)

:rolleyes:

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Not entirely correct. Some of us are not heavily leveraged (as the case for many BTL landlords). Unless the price is lowered, there is no point is jumping in as there is little profit. You can see this in the recenty report difference between auction prices and EA prices.

A lot of pople on this site are here only because they feel they have been priced out of the market. Once they have brought, they would like nothing but the price to sky rocket. In fact high prices is affecting the global enconomy. An adjustment is required otherise it will not be a housepricecrash but a depression or war.

Why would anyone want that? Unless you're buying the house you will live in for a long period before downsizing and taking some profit. As someone said you have to live somewhere and if your house sky rockets so does all the others making it extremely expensive to move.

Once I've bought I'd be happy for prices to continue falling or stagnate. So when I need to move up 'the ladder' it costs much less.

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A lot of pople on this site are here only because they feel they have been priced out of the market. Once they have brought, they would like nothing but the price to sky rocket. In fact high prices is affecting the global enconomy. An adjustment is required otherise it will not be a housepricecrash but a depression or war.

No, because most people who post on here look at the bigger picture. If I buy and my house rockets up in price that's of no benefit to me in most circumstances (downsizing is the only one where it would be). If I stay put it's irrelevent, if I move to somewhere equivalent it's irrelevent, and if I move up that'll cost me more than otherwise. The people cheering on HPI don't appear to realise those rather simple facts, but your typical HPC poster does. They're here because they recognised the reality of the market and that they were priced out, instead of borrowing out of their depths anyway.

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Why would anyone want that? Unless you're buying the house you will live in for a long period before downsizing and taking some profit. As someone said you have to live somewhere and if your house sky rockets so does all the others making it extremely expensive to move.

Once I've bought I'd be happy for prices to continue falling or stagnate. So when I need to move up 'the ladder' it costs much less.

So they can remortage, and buy that new BMW, 2 weeks in the sun etc...

People don't understand hard work anymore, and think only of 'because I'm worth it'.

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Estate Agents and the like seem to be increasingly trying this on to scr3w people out of their hard earned. Please don't fall for it. Whether the contract states there's a termination fee or not, this is in all likelihood unenforcable as the OFT would probably class this as an 'unfair clause'

Classic quote from that MSE link. Yeah, right. All that hard earned HPI money. dry.gif

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Exactly, full circle. Comes back to my original comment. 'It's only worth as much as someone is willing to pay for it.'

In the USA there are many newly built properties being pulled down to avoid land tax, simply because no one is interested for love or mney.

...yes, willing to pay for it using their own money (a high proportion of that funny money is made from previous property or big bonuses).

....it is unsustainable for the moneyed to only buy and sell to each other...new money from other viable business and investments that create real growth, the right money, lent in the right way to the right people, has to be available at the bottom or everything will grind to a halt, amongst other things. ;)

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So they can remortage, and buy that new BMW, 2 weeks in the sun etc...

People don't understand hard work anymore, and think only of 'because I'm worth it'.

Fine, so it makes it easier to pile on a load more debt that you could've saved for instead, got the same thing, and it'll cost you less - so ultimately you can have even more if you don't do that (unless your plan was to default on it in some way). Can't say I want that either, so I still wouldn't be cheering on increases.

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So they can remortage, and buy that new BMW, 2 weeks in the sun etc...

People don't understand hard work anymore, and think only of 'because I'm worth it'.

Many people dont understand. But the vast majority here do. Personally I'd rather just save up for the car/ holiday cost a hell of lot less in interest payments!

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Hi

another choice quote from the link...

"...Any advice on how to get people through the door?

Flat is a 1 bedroom/ open plan living/kitch in a old mill conversion so very attractive but is clearly an investment property/first time buy."

oh dear...

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Not entirely correct. Some of us are not heavily leveraged (as the case for many BTL landlords). Unless the price is lowered, there is no point is jumping in as there is little profit. You can see this in the recenty report difference between auction prices and EA prices.

A lot of pople on this site are here only because they feel they have been priced out of the market. Once they have brought, they would like nothing but the price to sky rocket. In fact high prices is affecting the global enconomy. An adjustment is required otherise it will not be a housepricecrash but a depression or war.

Only the stupid homeowner, with the exception of the speculator and person who is ready to downsize, wants house prices to increase. If you want to trade up, a x% increase across the market will always cost you more to move.

I'm the owner of a modest home and luckily have a decent amount of equity to boot, I would love nothing more than a 75% crash!

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Only the stupid homeowner, with the exception of the speculator and person who is ready to downsize, wants house prices to increase. If you want to trade up, a x% increase across the market will always cost you more to move.

I'm the owner of a modest home and luckily have a decent amount of equity to boot, I would love nothing more than a 75% crash!

:rolleyes:

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  • 277 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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