andybee33 Report post Posted September 20, 2011 (edited) Het all, Further to my post about the big differences in recent sold prices and asking prices (http://www.housepricecrash.co.uk/forum/index.php?showtopic=169231) in my area (CA), I hereby present two more examples - one of which is first hand. 1 - Saw a nice house - great location buy mabe a little small - last weekend. On market for £350k. Last sold at peak (2007) for £330k but somewhat improved. Sellers divorcing. Like it but think it's way over priced. Called EA for a chat. After much gnashing of teeth offered £279k. EA said it was a solid and realistic offer in the 'current market'! Sellers haven't gone for it as they've just gone to market and have more viewings - fair enough. BUT EA reckons that they will soon enough. So full 20% under asking. 2 - Speaking to lady (mother of kids friends) at weekend. Just completed for a big place in a nearby town. Asking was £625k. Accepted £445k! So, IMPO, the crash is really here - it just isn't being reflecting in ASKING prices yet. Only a matter of time though. Once these new 'low' sales complete, EAs and Surveyors will use them as valuation basis. Happy days. Edited September 20, 2011 by andybee33 Quote Share this post Link to post Share on other sites
Patfig Report post Posted September 20, 2011 Het all, Further to my post about the big differences in recent sold prices and asking prices (http://www.housepricecrash.co.uk/forum/index.php?showtopic=169231) in my area (CA), I hereby present two more examples - one of which is first hand. 1 - Saw a nice house - great location buy mabe a little small - last weekend. On market for £350k. Last sold at peak (2007) for £330k but somewhat improved. Sellers divorcing. Like it but think it's way over priced. Called EA for a chat. After much gnashing of teeth offered £279k. EA said it was a solid and realistic offer in the 'current market'! Sellers haven't gone for it as they've just gone to market and have more viewings - fair enough. BUT EA reckons that they will soon enough. So full 20% under asking. 2 - Speaking to lady (mother of kids friends) at weekend. Just completed for a big place in a nearby town. Asking was £625k. Accepted £445k! So, IMPO, the crash is really here - it just isn't being reflecting in ASKING prices yet. Only a matter of time though. Once these new 'low' sales complete, EAs and Surveyors will use them as valuation basis. Happy days. £279,000 what kind of house is that for circa 13 times average salary?? Quote Share this post Link to post Share on other sites
andybee33 Report post Posted September 27, 2011 Good point - just goes to show how warped everyones viewpoints get. Btw, this post was picked up in the 'mindfulmoney' attack on HPC. I take that as a compliment :-) Quote Share this post Link to post Share on other sites
