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OLDFTB

To Sell Or Not To Sell?

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Link:

http://britishexpats.com/forum/showthread.php?t=327021

But one persons quote:

"Not professional advice but I think he is taking the p**s with his offer and relying on the fact that you are desperate to sell. I assume that he knows of your plans to emigrate and anyone would be able to infer that people in this situation need to move quicker than the average seller. If my math's are correct, he is offering you £175k and this amounts to an insult really.

If this were me I would keep negotiating and make it clear that whilst your asking price may be negotiated, £175k is nowhere in the "ball-park" and for him to think again. Don't pre-empt his next offer by giving him approximate figures to work from as he will have a good idea of what a fair negotiable price is.

As I say, this is what I would do but is in no way, shape or form the optimal solution or advice as I am a stubborn sod at the best of times.

Also, take a look at:

http://news.bbc.co.uk/1/hi/business...ney/4261082.stm

--------------------------------------------------------------------------------"

Got to laugh.

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It's incredible. So many people are saying things like "the market's at a complete standstill" and "things are not selling for anything like the asking prices these days" yet nobody seems to think that this is because the prices are too high. To them, it's the offers that are too low.

It's funny how they would argue all the way through the bull years that they could get what they asked for because of "demand" yet they don't think that people can offer what they like when demand is weak.

When are they going to grow up and actually understand that supply and demand goes both ways?

EDIT: P.S. OLDFTB, your BBC link doesn't work.

Edited by aclwalker

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When are they going to grow up and actually understand that supply and demand goes both ways?

You have to remember that a lot of people have never lived through a housing crash before: they probably really do think that 'house prices only ever go up' and a buyer offering under their asking price is 'taking the piss' rather than offering fair value in the market.

Meanwhile, they're arguing over a few thousand pounds while the pound itself is slowly sinking into the toilet...

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It's incredible. So many people are saying things like "the market's at a complete standstill" and "things are not selling for anything like the asking prices these days" yet nobody seems to think that this is because the prices are too high. To them, it's the offers that are too low.

It's funny how they would argue all the way through the bull years that they could get what they asked for because of "demand" yet they don't think that people can offer what they like when demand is weak.

When are they going to grow up and actually understand that supply and demand goes both ways?

EDIT: P.S. OLDFTB, your BBC link doesn't work.

/quote]

Whoops...clang.Heres the link again.Should work ok.Probably one we've all read before anyway i suspect.

http://news.bbc.co.uk/1/hi/business/your_money/4261082.stm

Edited by OLDFTB

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Gilf did warn them...

The point is I was trying to help everybody. You all want to sell your properties, I've sold mine so what better person to ask about selling a house than me.

I have "got real" it seems that it's you that haven't. Please do tell me where these people with £230k get their money from? It's a genuine question, most of the time there will be a chain involved somewhere and at some point in that chain there will be a FTB or BTL, as BTL hasn't made financial sense for some time (if you don't agree please feel free to come over the HPC and have somebody explain yields to you) the whole chain needs to be realistic about what each property can fetch.

http://britishexpats.com/forum/showthread....3&page=29&pp=15

but it fell on deaf ears....

Dont talk of things you know nothing about  the person who has offered us 25k under is a millionaire hardly a struggling young family!
You all say we are greedy but if we dropped to a riddiclus price as above we would not be able to afford to buy our next property.

get real the properties in the range that we are selling are being bought by people with money not first time buyers.

And 4 months later the house is still on the market and still in denial....

Been on the market since May had about 16 viewers. Our agent also insists the price is right and to be honest we havent had anyone say its over priced, its just such an unusual property with the buisness attached.
I said to the agent are they in a position to buy and she said I've no idea!!!  I said well ask em... she rang me back and said yes they are jeez what are we paying these people for.

:rolleyes::rolleyes::rolleyes:

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Interesting market dynamics can exert themselves at times like these in asset markets. Folks who have been given an idea of what their asset is "worth" find themselves unable to settle for less. HOWEVER, a long period of being unable to sell alerts them to how 'LUCKY' others were to have sold for the asking price X months earlier.

Consequently any offer NEAR to their original asking price is similarly seen as 'LUCKY' , and thus to be accepted IMMEDIATELY.

The consequence of this is the formation of RESISTANCE in prices. Everytime prices approach the new level, sellers dump assets on the market, mopping up any buyers. Naturally some folks get left holding. Before long they are promising themselves they will sell just that little bit cheaper before interest is exhausted...

I suspect property markets exhibit similar dynamics.

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difficult to cope with people on that site at times - on the one hand, i hope none of them sell and don't make it to their new lives subsidised by everyone else - on the other hand, i don't really want that type of person in the country

This tangentially reminds me of the response from the Prime Minister of New Zealand to the question about why so many NZ-ers were at that time moving to Australia:

"I don't know why, but I do know it is raising the average IQ of both countries."

One of the greatest of all time. :lol:

Edited by Starcrossed

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Starting to face the truth:

Oh Tracey I know exactly how you are feeling right now.

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.

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

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This tangentially reminds me of the response from the Prime Minister of New Zealand to the question about why so many NZ-ers were at that time moving to Australia:

"I don't know why, but I do know it is raising the average IQ of both countries."

One of the greatest of all time.  :lol:

:lol:

The NZ PM should have looked at their Industrial Relations policy. The problem of emigration was so bad that Auckland Airport put up a sign on the depatures lounge "Would the last person to leave New Zealand please turn out the lights" :lol:

Seriously. My mother-in-law was put on a rotating 6 month contract. Poor pay, poor condition, no holidays and you'd not know if you had a job in 6 months time. You could do that or you could pay $600 and be in Aus and have better weather and better work conditions. Many Kiwi's did this and not just professionals

NZ politicians have finally admitted that they F#$ked up. Recently one polly came over and said point blank "Come back, things (work conditions) are better". Unfortunately she was told "we've settled here. NZ will allways be special but I am not coming back. I have a good job and my kids are settled"

NZ has a serious brain drain with all the highly skilled skipping the country and moving for the big moolah.

Are the Ex-pat's the smart ones? Moving to better climate and lower house prices?

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Interesting market dynamics can exert themselves at times like these in asset markets. Folks who have been given an idea of what their asset is "worth" find themselves unable to settle for less. HOWEVER, a long period of being unable to sell alerts them to how 'LUCKY' others were to have sold for the asking price X months earlier.

Consequently any offer NEAR to their original asking price is similarly seen as  'LUCKY' , and thus to be accepted IMMEDIATELY.

The consequence of this is the formation of RESISTANCE in prices. Everytime prices approach the new level, sellers dump assets on the market, mopping up any buyers. Naturally some folks get left holding. Before long they are promising themselves they will sell just that little bit cheaper before interest is exhausted...

I suspect property markets exhibit similar dynamics.

Sledgey, you mean by this a "lower high" is formed - with each rally, the bulls are not quite strong enough to push it back to and through it's previous high; and then as the relative strength of bears grow, price falls and goes on to mark a "lower low" as support from the previous low is broken- a textbook downtrend.. (?)

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  • 301 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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