getknk Report post Posted January 30, 2011 Might be a silly question.. I checked rightmove in a South East town.. just one town within 4 miles radius. I can find 400 family detached homes for sale.. i'm wondering why 1. people are selling them? do they want money ? are they selling and moving to a smaller house? are they 2nd homes.. i dont this one coz they are family homes.. 2. anyone know people who make money by buying house and selling them? coz developing countries have bank interest rates at 9%.. u could get mortgate at 5% very confused why are so many family detached homes in the market.. thought they are very costly.. Quote Share this post Link to post Share on other sites
Democorruptcy Report post Posted January 30, 2011 Might be a silly question.. I checked rightmove in a South East town.. just one town within 4 miles radius. I can find 400 family detached homes for sale.. i'm wondering why 1. people are selling them? do they want money ? are they selling and moving to a smaller house? are they 2nd homes.. i dont this one coz they are family homes.. 2. anyone know people who make money by buying house and selling them? coz developing countries have bank interest rates at 9%.. u could get mortgate at 5% very confused why are so many family detached homes in the market.. thought they are very costly.. Why don't you say which town? Quote Share this post Link to post Share on other sites
getknk Report post Posted January 30, 2011 yup sorry.. wanted to just say in a general way.. its Wokingham, with 1 mile radius (though rightmove includes 4 miles ) Quote Share this post Link to post Share on other sites
Number79 Report post Posted January 30, 2011 yup sorry.. wanted to just say in a general way.. its Wokingham, with 1 mile radius (though rightmove includes 4 miles ) I think that the search filters are screwed up. I just put in 1/4 mile of arborfield garrison to see what the quarters were going for now and it brought up pages of stuff from whitley wood to lower early. Wokingham/arborfield will take a hit when the garrison closes as it is quite a big local employer. Quote Share this post Link to post Share on other sites
Pent Up Report post Posted January 30, 2011 People want to move, upsize, downsize, don't like the area, bad neighbours, moving for work etc. Or deaths, debt, divorce. There are hundreds of reasons really. Quote Share this post Link to post Share on other sites
Democorruptcy Report post Posted January 30, 2011 yup sorry.. wanted to just say in a general way.. its Wokingham, with 1 mile radius (though rightmove includes 4 miles ) Thanks. Had a look within 1 mile and found 410 without including SSTC. I won't be buying there, if that's all my money would get. Quote Share this post Link to post Share on other sites
man o' the year Report post Posted January 30, 2011 (edited) We will only see the falls we are all seeking/awaiting when the answer to the question is a clear and definitive that vendors are selling in an attempt to avoid losing substantially as they understand that prices will crash. I think that there are houses coming to the market in this situation but not enough to make the rateof fall accelerate. The VAT increase has acted to increase this effect and as the cuts hit and are reported by mainstream media we stand a real chance of real fear taking proper hold of the market. Edited January 30, 2011 by man o' the year Quote Share this post Link to post Share on other sites
athom Report post Posted January 30, 2011 There must be lots of people with their houses on the market at a price that is based solely on what would pay off their debt. But that would be a better reply if your question was "why are people not selling their homes?" Quote Share this post Link to post Share on other sites
Number79 Report post Posted January 30, 2011 The garrison is only a couple of miles down the road and will be closing this year or next. There are plans being bounced about at the moment to build over 3,500 houses on the land. I think that this will have some bearing on it. Quote Share this post Link to post Share on other sites
fellow Report post Posted January 30, 2011 very confused why are so many family detached homes in the market.. thought they are very costly.. Boomers starting to retire..........but nobody to sell them to (at the price they want)? Quote Share this post Link to post Share on other sites
jonboy2010 Report post Posted January 30, 2011 Might be a silly question.. I checked rightmove in a South East town.. just one town within 4 miles radius. I can find 400 family detached homes for sale.. i'm wondering why 1. people are selling them? do they want money ? are they selling and moving to a smaller house? are they 2nd homes.. i dont this one coz they are family homes.. 2. anyone know people who make money by buying house and selling them? coz developing countries have bank interest rates at 9%.. u could get mortgate at 5% very confused why are so many family detached homes in the market.. thought they are very costly.. Has anyone else noticed that 300000 plus house are selling in kent area but 150000 plus have no chance who is buying these houses???? Quote Share this post Link to post Share on other sites
getknk Report post Posted January 30, 2011 The garrison is only a couple of miles down the road and will be closing this year or next. There are plans being bounced about at the moment to build over 3,500 houses on the land. I think that this will have some bearing on it. i didn't want to specifically say wokingham.. hence i didn't mention in the first place.. my surprise came from the fact that around 4 miles radius, there are 400+ detached houses for sale.. crazy in't !!? people in there should be moving somewhere.. Quote Share this post Link to post Share on other sites
athom Report post Posted January 30, 2011 Has anyone else noticed that 300000 plus house are selling in kent area but 150000 plus have no chance who is buying these houses???? other people with 300000 plus houses who need to move house but don't need a big mortgage. It's all about the LTV, the banks KNOW a HPC is coming so will only lend to people with huge deposits/equity KNOWING that that deposit/equity money will soon be obliterated. Quote Share this post Link to post Share on other sites
athom Report post Posted January 30, 2011 i didn't want to specifically say wokingham.. hence i didn't mention in the first place.. my surprise came from the fact that around 4 miles radius, there are 400+ detached houses for sale.. crazy in't !!? people in there should be moving somewhere.. ....or they simply want to shift their massively overpriced asset before it's too late. (it's too late) Quote Share this post Link to post Share on other sites
PbroAgent Report post Posted January 30, 2011 People want to move, upsize, downsize, don't like the area, bad neighbours, moving for work etc. Or deaths, debt, divorce. There are hundreds of reasons really. +1 I'm not seeing any common theme in home movers, Its for all the reasons quoted and more. Quote Share this post Link to post Share on other sites
PbroAgent Report post Posted January 30, 2011 Has anyone else noticed that 300000 plus house are selling in kent area but 150000 plus have no chance who is buying these houses???? Much the same in Peterborough, it was easier to sell a 300k+ house than an FTB 100k starter home last year. This was mainly for three reasons, FTBs had no deposit and were like rocking horse sh!t; people in 150k+ houses tended to have equity and could rent their existing home out in order to buy on, freeing others up to also buy up-chain; and the asian market in Peterborough was active - these buyers often have multiple properties to release funds from, live as large family units often with more than two incomes coming in and have access to non-bank finance (local community cooperative funds) - again freeing people to buy up-chain. Quote Share this post Link to post Share on other sites
Number79 Report post Posted January 30, 2011 +1 I'm not seeing any common theme in home movers, Its for all the reasons quoted and more. True but being within a couple of miles of a place where not only a reasonable sized employer is about to close but the site is to have 3,500 new houses built on it must have some bearing on the thoughts of people there. I have no idea what anyone will do for work. Quote Share this post Link to post Share on other sites
