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Fromage Frais

Cant Sell Wont Sell

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Really feeling down at the moment the wife does not stop moaning and have to find a house but.....

There is literally only crap in Norwich for sale at the moment and anything half decent that is for sale is woefully overpriced!

I am seeing offers in excess.... all the time now and the vendors seem to take the properties off rather than reduce the prices.

Even when a property has sold for 30K less next door they still hold out its really really annoying.

I have just accepted that i have run out of time and with 3 kids I am just going to have to take the loss and pay the "going rate currently" however at the moment all the houses i am looking at have sold for 220-270,000 and whats left is priced at 250-299 for the same thing.

Its really annoying as the vendors feel that since their is no supply their property is somehow "worth it".

It feels like something is deeply rotten below the surface every house has terrible furniture in it and you can tell the vendors are not as rich as their asking prices, even the estate agents agree with everything I have typed here and a few of them are in real trouble as no new houses to sell means no business regardless of pricing.

There are not even a lot of properties to rent for families so it really is depressing zombie land.

Edited by Fromage Frais

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Really feeling down at the moment the wife does not stop moaning and have to find a house but.....

Perhaps it's time to tell the wife to stop acting like a petulant child and start behaving like an adult?

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Perhaps it's time to tell the wife to stop acting like a petulant child and start behaving like an adult?

Or if that doesn't work, tell her if you buy a house you'll have to reduce her "housekeeping" to pay towards the extra cost of owning and the future negative equity.

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Really feeling down at the moment the wife does not stop moaning and have to find a house but.....

<snip>

The mothering instinct is very strong in most women; you either have to accept it, or choose celibacy ;) Instinct will (almost) always trump logic.

I have similar problems with my DP*, and with our first rugrat on the way I know that the pressure is going to rise inexorably.

But I know that if I cave in, I am condemning my kids to never having the chance of a good education (we'll never have enough money...). So I just grin and bear it.

Hold on in there - and always remember that you are doing what's right for the little-uns B)

* sorry, went a bit Mumsnetty there.

EDIT: typo.

Edited by DeepLurker

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.

I have similar problems with my DP*, and with our first rugrat on the way I know that the pressure is going to rise inexorably.

* sorry, went a bit Mumsnetty there.

EDIT: typo.

Sorry don't do Mumsnet. DP to me means "double penetration". You better explain.;)

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It's stalemate out there for sure but you can bet that there are legions of people who are hanging on by the skin of their teeth. These people are no doubt using every credit facility they can to keep their houses and as other costs rise they will eventually run out of space.

Its not a very nice way of looking at it but this is the situation the BoE have put people in. Its a case of who blinks first.

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Really feeling down at the moment the wife does not stop moaning and have to find a house but.....

There is literally only crap in Norwich for sale at the moment and anything half decent that is for sale is woefully overpriced!

I am seeing offers in excess.... all the time now and the vendors seem to take the properties off rather than reduce the prices.

Even when a property has sold for 30K less next door they still hold out its really really annoying.

I have just accepted that i have run out of time and with 3 kids I am just going to have to take the loss and pay the "going rate currently" however at the moment all the houses i am looking at have sold for 220-270,000 and whats left is priced at 250-299 for the same thing.

Its really annoying as the vendors feel that since their is no supply their property is somehow "worth it".

It feels like something is deeply rotten below the surface every house has terrible furniture in it and you can tell the vendors are not as rich as their asking prices, even the estate agents agree with everything I have typed here and a few of them are in real trouble as no new houses to sell means no business regardless of pricing.

There are not even a lot of properties to rent for families so it really is depressing zombie land.

Err sounds to me like the vendors have got it right. Clearly the house is worth what they want for it, otherwise you wouldn't pay for it.

At the moment there are a small number of people who have to sell. The vast majority don't have to and therefore aren't going to lower their prices. They are quite happy to leave it on the market for months at high prices in the hope that someone who needs to buy turns up and buys it.

The problem with this strategy is of course if a large number of people suddenly want or need to sell all at once, then as a seller you risk getting caught up in a crash of epic proportions and losing a lot of money if the market undershoots (which it normally does in a crash).

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The mothering instinct is very strong in most women; you either have to accept it, or choose celibacy ;) Instinct will (almost) always trump logic..

Mothering instinct works under a rented roof as well as a mortgage'd roof.

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Sorry don't do Mumsnet. DP to me means "double penetration". You better explain.;)

basically, if it's difficult to get in at the back that's not such a problem providing the front is accessible with nicely pruned hedges

after that you look for condition, attractiveness and a well-decked attic

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Err sounds to me like the vendors have got it right. Clearly the house is worth what they want for it, otherwise you wouldn't pay for it.

At the moment there are a small number of people who have to sell. The vast majority don't have to and therefore aren't going to lower their prices. They are quite happy to leave it on the market for months at high prices in the hope that someone who needs to buy turns up and buys it.

The problem with this strategy is of course if a large number of people suddenly want or need to sell all at once, then as a seller you risk getting caught up in a crash of epic proportions and losing a lot of money if the market undershoots (which it normally does in a crash).

indeed, it's quite a macro problem

problem I found living in Norwich was renting was an expensive nightmare - can you rent in the sticks somewhere instead?

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Really feeling down at the moment the wife does not stop moaning and have to find a house but.....

I'm a little surprised by this. I understand the instinct, but most people I know, male and female, who would ideally like to buy fully accept that now is not the time to do so.

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basically, if it's difficult to get in at the back that's not such a problem providing the front is accessible with nicely pruned hedges

after that you look for condition, attractiveness and a well-decked attic

Thanks - I always make sure the back door is well oiled and do like the hedges to be well clipped...

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Thanks - I always make sure the back door is well oiled and do like the hedges to be well clipped...

nowt like a bit of WD40 to give ageing hinges a new lease of life, that's what I say

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Can't sell = won't sell = not on the market.

UNLESS they accept that lo-ball offer. Have you tried that approach?

How do you think the average selling price is about 20% less than the asking price? You think the buyers just offer it once you've made a full offer?

stop moaning and start getting embarrassed.

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I dont know, I got a 3bed 3 toilet new build down from £795 to £650 a month off Havers Road, one of the larger new builds I might add, I saw some new builds which had bedrooms smaller than the bathroom in the one I rented! :D

fair enoug!

it WAS some (many) years ago that i rented in Norwich

what are agency fees like there?

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"Really feeling down at the moment the wife does not stop moaning and have to find a house but....."

Male / Female equality? Husband / Wife partnership? Isn't it her equal responsibility to secure a house, if she wants one so much? She's a cheeky one isn't she, putting it all down to you.

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Buy land and Self build?

It's the price of the land that is so prohibitive. If a modest house costs 80 to 90 grand to build, you're probably going to have to stump up another 160 grand or so to find somewhere to do it. People selling land are every bit as reluctant to drop their price as house sellers.

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Mothering instinct works under a rented roof as well as a mortgage'd roof.

agree.

Surely thinking longterm in your family's interest rather than making short-term decisions you may later regret is good parenthood, rather than bad.

Seems to me the partners in these cases EITHER do not believe there is going to be a crash (in which case, what can you do? I'm sure you've tried all the arguments, evidence, etc) OR they're just thinking short-term and are not invested enough in the financial side of the decision.

Have you (ie the OP and anyone in this position) tried showing them details of the lovely houses that you are likely to be able to afford if prices come down by 20%, compared with the horrible ones that are all you can afford if you buy now? Or details of the exact impact on your weekly budget if you stretch yourselves with extra debt to buy now rather than later?

Husband and I have hours of fun thinking about what we can buy if there's a massive crash, what we can get if there's a 10% fall, etc. (It's always good to share a hobby....)

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People that are asking too much may have no other choice, why are they selling, that is the first and most important question to ask....if they are not negotiating on the price maybe it is because they can't....in your head their house is not for sale, pick another house.

Back to wants v needs......three kids and two adults can quite easily live in a two double bed property, I know have done it and it does not do the kids any harm, location, neighbourhood and family contentment is far more important than a bedroom each and three bathrooms......huge debt, with stress with little disposable income does far more damage.....start small with smaller bills then trade up later.....smaller, character properties, with a garden in established nice areas, close to amenities that are cheaper to maintain, heat and run will always sell at a premium in the future.....less is more. ;)

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......huge debt, with stress with little disposable income does far more damage...

I think that is spot on. In an ideal world you'd have the big house and no stress but it is not an ideal world and right now the prices are too high in more ways than one.

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Mothering instinct works under a rented roof as well as a mortgage'd roof.

Sage advice there. And also to add, there are pros and cons in both those scenarios.

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My Mrs moaned for years to get a house. (bought a few months ago).

Now she just moans about all the DIY that needs to be done and I am now a lot busier at weekends so less time for the kids.

Overall, I don't think the moan rate has changed much.

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  • 276 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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