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libitina

Whereabouts On The Scale Are We Now?

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Guest rigsby II
Are we seeing fear now? :D

Not in my neck of the woods - S Yorks/North Lincolnshire - 0/10 fear scale.

In my personal experience, currently selling a house and looking around to buy a house and actually talking to vendors & estate agents and putting in offers.

I am seeing no fear amongst vendors (except me)

I am seeing no fear amongst EA (except 2 lovely lady ones who were both a bit worried that their sales were way way down)

I don't even think its denial phase yet as that implies that vendors are aware something is wrong - I just don't think they are aware anything is wrong - yet.

I've put in daft offers to gauge reaction and been laughed at over the phone, I've put in sensible offers (to me) of 10% below and been told its not enough.

And yet almost everything is sticking stubbornly at the same price - (or higher !)

Doing my head in to be honest...

:)

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Guest prudence

Denial ..... just read details of an 1100 square foot new build flat in SW London with asking price of £700000. Patience will eventually be rewarded.........

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creeping denial.

id say about 1/5th of population now smell a rat, though they are searching everything else first. oil, war, tax, job - anything but our precious homes.......

id say this will change after christmas. say by feb march. a tradtional licking of the wounds period and a good year since a lot of vendors last paid attention to house prices. i think this will be the start of the big crunch, which i think will go on for 2 years sharp and 2 years flat. then i dont know. we may have a mid sized recession that lasts for 5-10 years. a lot of hunkering down.

more war anyone ?

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Not in my neck of the woods - S Yorks/North Lincolnshire - 0/10 fear scale.

In my personal experience, currently selling a house and looking around to buy a house and actually talking to vendors & estate agents and putting in offers.

I am seeing no fear amongst vendors (except me)

I am seeing no fear amongst EA (except 2 lovely lady ones who were both a bit worried that their sales were way way down)

Rigsby is still deep in the denial phase, that's why he's still in the business of buying houses in the current market :lol:

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Guest rigsby II
Rigsby is still deep in the denial phase, that's why he's still in the business of buying houses in the current market :lol:

No but seriously, what am I in denial of ?

The house I am trying to sell has gone up 4 times what I paid for it in 2003. The one we bought before in 1999 went up 3 times. Its been rent free and free dosh all rolled into one.

I am trying to buy an overpriced asset funded by selling an equally overpriced asset, the relative price difference between the two is I admit inflated and at some future date, if and when prices fall, the relative difference of moving up may be less - but its a risk I will take - far outweighed by being settled.

Plus I am trying my best to buy the next house with a good discount whilst trying to sell mine without giving away too much discount - mines a FTB house - I'm looking to move up, where there is more room for negotiation.

Plus theres more to life than pounds shillings and pence and looking at your bank balance all day long.

Seems like a good time (for me) to buy - as renting is not really my cup of tea.

Cheers...

:)

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No but seriously, what am I in denial of ?

The house I am trying to sell has gone up 4 times what I paid for it in 2003. The one we bought before in 1999 went up 3 times. Its been rent free and free dosh all rolled into one.

I am trying to buy an overpriced asset funded by selling an equally overpriced asset, the relative price difference between the two is I admit inflated and at some future date, if and when prices fall, the relative difference of moving up may be less - but its a risk I will take - far outweighed by being settled.

Plus I am trying my best to buy the next house with a good discount whilst trying to sell mine without giving away too much discount - mines a FTB house - I'm looking to move up, where there is more room for negotiation.

Plus theres more to life than pounds shillings and pence and looking at your bank balance all day long.

Seems like a good time (for me) to buy - as renting is not really my cup of tea.

Cheers...

:)

We all make our way in our 1 lifetime trying to do what we consider to be right at the time, what is right for you is not right for me and vice versa. All i can say to you is keep doing what your doing as along as you see it to be the right thing to do. Sounds like you have a plan of some sort, better to atleast try to do something than to regret never trying it.

Personally for me it would be crazy to start buying up properties, whats wrong for me might not be wrong for you so best of luck to you i say.

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Guest horace

>> BuyingBear

Your comment is very cruel. Why do you seek to inflict pain on Rigsby`s Alice in wonderland dreams?

BuyingBear you ought to be banned from posting on this site.

horace :D

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Guest rigsby II
Your comment is very cruel. Why do you seek to inflict pain on Rigsby`s Alice in wonderland dreams?

I know what you mean horace - its gone very topsy-turvey.

Have you heard the ones about STR making sense ?

I did the sums where I sold my house to STR and would end up paying more in rent than interest from the sale.

Very Alice in Wonderland.

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Have you heard the ones about STR making sense ?

I did the sums where I sold my house to STR and would end up paying more in rent than interest from the sale.

Very Alice in Wonderland.

The advantages really kick in for larger houses which can be rented for much less than the mortgage cost/savings yields. You've described your place as a 'FTB house' so you're not going to enjoy the same sort of leverages as a STR with a house 'worth' £300k that is fully cashed out.

I've seen this myself with larger detached houses with market values twice that of a terrace, yet the rental price doesn't reflect this gulf, they're not renting for a proportionate margin over the terrace, certainly not x2. Such is the disconnect between rental prices and 'values'. It's the same sort of thing that makes the P/E ratio for GOOG look rational.

Edited by BuyingBear

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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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