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benjamin

Is The Housing Market Heading Up Or Down?

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Guest rigsby II

Up or Down ?

Neither, flat as a fart

My neck of the woods...(ok yours may be different - keep yer hair on)

Nothing much shifting and the odd £5k reduced stickers.

Had offer on my house 10% off, but no-one upstream is offering 10% off - result, no movement.

I'll probably take the house off in a couple of months when I no longer have to pay the EA any fees.

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I'll probably take the house off in a couple of months when I no longer have to pay the EA any fees.

...and then wait for the Spring Bounce. Should be worth at least the extra 10% by then. :D

Nomadd

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Interesting Rigsby,

So does that mean you are no longer interested in selling, or that you are extremely confident that the 10% offer was a definite insult (your property is defintely "worth" what you asked or pretty close to it), or you think the offer is fair but the people above you in the chain do not, or what?

Why did you put it on the market and why have you decided the best thing is not to sell anymore?

Hopefully these are not too personal questions, I'm just trying to understand the mentality of people who presumably DID want to sell (it might help explain why prices are flat in your area but nothing is selling - vendor denial of reality etc).

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I'm amazed that people will leave a house 'on the market' - for sale - I presume for 6, 12, 18 months or more. Is it not reasonable to suppose that if it hasn't had a buyer within say 3 months then there is something fundamentally wrong? Maybe these people aren't really serious about selling and have some 'agenda' or other reason for wasting everyones life time.

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Guest rigsby II

Interesting Rigsby,

So does that mean you are no longer interested in selling, or that you are extremely confident that the 10% offer was a definite insult (your property is defintely "worth" what you asked or pretty close to it), or you think the offer is fair but the people above you in the chain do not, or what?

Why did you put it on the market and why have you decided the best thing is not to sell anymore?

Hopefully these are not too personal questions, I'm just trying to understand the mentality of people who presumably DID want to sell (it might help explain why prices are flat in your area but nothing is selling - vendor denial of reality etc).

I'm not interested in selling anymore.

I'm not prepared to pay the daft figures people want for their 'nicer' houses upstream. I could afford but I'm not going to it would be madness.

I'm old enough and ugly enough to realise that my house is probably 'worth' about 40% less than its on at.

Denial doesn't come into it for me, I'm under no illusions at all the market is going ti*ts up.

Spring bounce ? well thats a well worn joke on here, its not even remotely funny anymore its been told so often.

10% more next spring, no 10% less IMO

But STR and renting aint my cuppa tea, it really isnt, I'm sticking where I am probably and see how things pad out a little while longer.

I'll still keep sticking in derisory offers and see if anyone bites though...

:)

I'm amazed that people will leave a house 'on the market' - for sale - I presume for 6, 12, 18 months or more. Is it not reasonable to suppose that if it hasn't had a buyer within say 3 months then there is something fundamentally wrong? Maybe these people aren't really serious about selling and have some 'agenda' or other reason for wasting everyones life time.

Why amazed ?

Testing the water...

I would like to move, but I dont need to move, no forced desperate sale here.

Plus unless your house is up for sale, the EA wont as often as not, let you view.

Plus I have used it as a sob story to the EA that I cant sell my house, boo-hoo, its been on for 3 months boo-hoo, they usually open up then and tell its the same for them, you get more honest appraisal of the market, I have talked at length to many and they are scared I can tell you...

:)

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Why amazed ?

Testing the water...

I would like to move, but I dont need to move, no forced desperate sale here.

Plus unless your house is up for sale, the EA wont as often as not, let you view.

Plus I have used it as a sob story to the EA that I cant sell my house, boo-hoo, its been on for 3 months boo-hoo, they usually open up then and tell its the same for them, you get more honest appraisal of the market, I have talked at length to many and they are scared I can tell you....

Good reply and sounds fair enough. :D

Still if we look at some of the amusing expat boards where houses have been 'for sale' for over 12 months and more then I still think my point in those cases is valid; if they want to sell and not just have the house on the market for ever then they need to face reality, as we all do when stuff doesn't sell

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Maybe these people aren't really serious about selling and have some 'agenda' or other reason for wasting everyones life time.

I wonder how the proposed Housing Information Packs (HIPs) will affect these 'water testers'. If they've to cough up £6 to £800 for a survey etc. prior to testing the water I've a suspicion that they'll probably not bother.

Edited by ILBB

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Whats interesting is that given £50,000 to invest everyone of them would still put a deposit on a house.

My twelve year old daughter reads more informative material than that in Mizz, Sugar and Bliss. Occassionally the Indie really lets itself down. They may as well have asked "what do you want to be when you grow up?"

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Q Are prices up, down or flat?

It's flat. This year's dip in sales was the worst for a decade, but there is evidence of recovery. Expect increasing sales to first-time buyers before buy-to-let investors pile in next year. I think that 2006 will be flat, but affordability is improving, and it's helped by more realistic asking prices, falling interest rates and wage increases which are running ahead of annual house-price inflation.

"It's flat." - So prices are static?

2 sentences later "...but affordability is improving, and it's helped by more realistic asking prices.." - So prices are coming down?

Yada, Yada, Yada...

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Whats interesting is that given £50,000 to invest everyone of them would still put a deposit on a house.

No; note the phrasing of the question: "With a deposit of £50,000, what would you choose as a UK investment?"

Clearly they are supposed to only pick property; no-one talks about putting down a "deposit" on some shares or bonds.

Also, they asked 4 estate agents, a mortgage lender's pet economist and a property magazine editor what they would invest in; it's self-evident they're going to say property, isn't it. What exactly is "interesting" or unexpected about that? :rolleyes:

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I can afford to pay £20k for a second hand Yugo... doesn't mean that I will though.

Clearly they are supposed to only pick property; no-one talks about putting down a "deposit" on some shares or bonds.

that's because shares and bonds are still too complex for most sheeple to understand. I've no idea why the fundamentals of investment aren't taught in school - it's not very complex maths and far more useful than trigonometry and differentition as far as I'm concerned.

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  • 302 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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