Jump to content
House Price Crash Forum
TheCountOfNowhere

Im Selling Up In January.,

Recommended Posts

2 people i know who's houses are a weight round their necks and have both tried lo sell off and on for 3 years now have both, this weekend, stated...we are going to put our house on the market in January to cash in as prices will shoot up. prices have already shot up and we will finally get out.

anyone else hearing this?

are the gidiots in government inadvertently going to crash the market by quickly saturation the market?

if these two are thinking i can only imagine many others are thinking it too.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

2 people i know who's houses are a weight round their necks and have both tried lo sell off and on for 3 years now have both, this weekend, stated...we are going to put our house on the market in January to cash in as prices will shoot up. prices have already shot up and we will finally get out.

anyone else hearing this?

are the gidiots in government inadvertently going to crash the market by quickly saturation the market?

if these two are thinking i can only imagine many others are thinking it too.

Gawd, I hope so! Unintended consequences and all that.

Share this post


Link to post
Share on other sites

I don't think it's going to have as big an impact as some are expecting. This is all anecdotal and my opinion (and maybe wishful thinking) but still ...

1) I know 3 potential FTBs who are not touching HTB2 because they know they'll be in a mess in 5 years time when they have to find the additional 20%. They also think the interest rates will be high as the deposit is small.

2) I think FLS & the prospect of HTB2 have already flushed out a lot of affluent buyers who were intending to wait whilst prices declined.

3) Volumes will drop as the end of the year approaches because people are waiting for HTB2.

4) In January, supply will increase as people think they can get peak prices again. Increased supply will ensure prices are kept in check.

Share this post


Link to post
Share on other sites

Everyone looking at my dads flat in Edinburgh are down sizing. However none have sold their own place yet.

Share this post


Link to post
Share on other sites

Every house owner I know is hoping to downsize - costs of running houses has got too much even for those who bought many years ago at a fraction of the asking prices they are now asking. They never stop to think that a buyer could not afford the mortgage let alone the running costs of the house.

I am also seeing houses on for 5 or 6 years noe raise their asking prices - total delusion.

Share this post


Link to post
Share on other sites

One of the more realistic Swansea EAs is constantly telling sellers that they can't put in offerd until they market their own houses - everyone seems to think that their house will sell within weeks and not years.

I heard one EA this week advising a couple not to bid at auction on a house until they have exchanged and completed on their property. The EA repeatedly explained to them that if they got the house at auction and then their sale fell through - which many are - that they would be screwed. They did not understand.

Share this post


Link to post
Share on other sites

Every house owner I know is hoping to downsize - costs of running houses has got too much even for those who bought many years ago at a fraction of the asking prices they are now asking. They never stop to think that a buyer could not afford the mortgage let alone the running costs of the house.

I am also seeing houses on for 5 or 6 years noe raise their asking prices - total delusion.

I was at someone's house today, nice house. They had really stretched to buy it and then fix it up. About 4 years ago they wanted to downsize to ease the pressure. Obviously they couldn't but they lucked themselves onto a +0% base rate tracker. The rest as they say is history.

Except now of course I'm the biggest stubborn idiot in the world for not buying the biggest house I can('t) afford.

(They had previously lucked themselves out by buying for £100k as students and a few years later selling for £200k)

Share this post


Link to post
Share on other sites

I could only see it precipitating a 'crash' if theres a deluge of job losses at the same time. But yes, ive noticed many houses that were absurdly overpriced in 2007-9 come back on, at similarly overpriced levels and with similarly absent interest in them.

Share this post


Link to post
Share on other sites

I don't think it's going to have as big an impact as some are expecting. This is all anecdotal and my opinion (and maybe wishful thinking) but still ...

1) I know 3 potential FTBs who are not touching HTB2 because they know they'll be in a mess in 5 years time when they have to find the additional 20%. They also think the interest rates will be high as the deposit is small.

2) I think FLS & the prospect of HTB2 have already flushed out a lot of affluent buyers who were intending to wait whilst prices declined.

3) Volumes will drop as the end of the year approaches because people are waiting for HTB2.

4) In January, supply will increase as people think they can get peak prices again. Increased supply will ensure prices are kept in check.

HTB2 does not involve the 20% 5 year loan, that is for newbuilds under HTB1.

Share this post


Link to post
Share on other sites

If prices are going to shoot up why would they sell in Jan??? Surely keep it and sell after the price has shot up ... say in a years time when it is 'worth' 10% more.

they NEED to sell or next year will be the year they could loose everything..they have no money and nothing of value left to sell! the cost of living is crippling them. its a sad state of affairs.

i hope they sell...i said they should do it now before the rush...i pity the greatest of the greater fools that buy though....if such a fool exists.

Share this post


Link to post
Share on other sites

I could only see it precipitating a 'crash' if theres a deluge of job losses at the same time. But yes, ive noticed many houses that were absurdly overpriced in 2007-9 come back on, at similarly overpriced levels and with similarly absent interest in them.

+1

some 2007 prices plus 5 years of pretend increases.one house in Milton keynes inoticed this morning...i watched it not sell for 3 years...back on at the same price.

this could end up a disastor for osborne if buyers dont takes up the help to banks scheme.

Share this post


Link to post
Share on other sites

One of the more realistic Swansea EAs is constantly telling sellers that they can't put in offerd until they market their own houses - everyone seems to think that their house will sell within weeks and not years.

I heard one EA this week advising a couple not to bid at auction on a house until they have exchanged and completed on their property. The EA repeatedly explained to them that if they got the house at auction and then their sale fell through - which many are - that they would be screwed. They did not understand.

:lol: Fu*ck `em, let them eat cack.

Share this post


Link to post
Share on other sites

Is it unintended though? We have long discussed on here how a crash would benefit the banks lending figures.

This...

Maybe they just need that final push to come out on top and in profit.

Share this post


Link to post
Share on other sites

This...

Maybe they just need that final push to come out on top and in profit.

Yes, they would have played a blinder if they could pull it off, all those bonuses and interest payments on the way up, taxpayer bailout when it went wrong, and now stuffing all the idiots who believed the hype to get another batch to buy in at the bottom with new loans. The sheeple will have to be panicked to a stampede to play along though, rising rates and massive oversupply might do it?

Share this post


Link to post
Share on other sites

Yes, they would have played a blinder if they could pull it off, all those bonuses and interest payments on the way up, taxpayer bailout when it went wrong, and now stuffing all the idiots who believed the hype to get another batch to buy in at the bottom with new loans. The sheeple will have to be panicked to a stampede to play along though, rising rates and massive oversupply might do it?

Do you think they are smart enough to have engineered this or have they happened upon a monumental mess and are trying anything & everything to make the most of it?

Either way they are not going to give up yet...

Share this post


Link to post
Share on other sites

Do you think they are smart enough to have engineered this or have they happened upon a monumental mess and are trying anything & everything to make the most of it?

Either way they are not going to give up yet...

I think they are looking for a way to encourage movement in the housing market that causes the punters to take the hit this time instead of the banks, but also look like they are "doing something" to help the great property owning masses. HTB and such schemes look like help, but also cause property to be put on the market and maybe encourage some price drops?

Share this post


Link to post
Share on other sites

I think they are looking for a way to encourage movement in the housing market that causes the punters to take the hit this time instead of the banks, but also look like they are "doing something" to help the great property owning masses. HTB and such schemes look like help, but also cause property to be put on the market and maybe encourage some price drops?

The punter's and the tax payers (via help to buy and bailouts) will take the hit. The banks have already positioned themselves to appear sympathetic towards customers in difficulty with forbearance - so that part is in place. There is another thread tonight which suggests that HTB is stimulating people to sell too.

So the banks get another go at the market just with new customers. In Spain several of the banks just held onto their repossessions and sell them to new mortgage customers (for a reduced price to get the mortgage finance). They still chase the first mortgage 'owners' for their shortfall. Double Whammy.

Sad, though, that for us to get what we want, the banks get to 'win' again. :huh:

edited to remove extra words :rolleyes:

Edited by neontetra

Share this post


Link to post
Share on other sites

Sound like they like to gamble, I assume they bought hoping the debt would inflate away and now when in trouble, rather than sell now, they are gambling that HtB 2 will get them more money in January.

No, they bought because they wanted a home for their kids, they bought what they could afford at the time. The cost of living has caught up wioh them despite their repayments dropping due to the low interest rates.

Not everyone is a property speculator, most people just need a house over their heads and somewhere decent to raise their family.

Share this post


Link to post
Share on other sites

Everyone looking at my dads flat in Edinburgh are down sizing. However none have sold their own place yet.

Today....Less is more, where are the sellers of the downsized (either in size or price) properties going?...and what do they do with any surplus if they have any? ;)

Share this post


Link to post
Share on other sites

The punter's and the tax payers (via help to buy and bailouts) will take the hit. The banks have already positioned themselves to appear sympathetic towards customers in difficulty with forbearance - so that part is in place. There is another thread tonight which suggests that HTB is stimulating people to sell too.

So the banks get another go at the market just with new customers. In Spain several of the banks just held onto their repossessions and sell them to new mortgage customers (for a reduced price to get the mortgage finance). They still chase the first mortgage 'owners' for their shortfall. Double Whammy.

Sad, though, that for us to get what we want, the banks get to 'win' again. :huh:

edited to remove extra words :rolleyes:

They won`t ever get the massive lending and bonus extravaganza again, not in our lifetimes, and cheap houses mean more and more people can be free of the banks clutches quicker. Who knows there might even be a generation now who won`t buy at any price, they will stay at home until they inherit the house? A bank has a function to perform, and lending people about 3 x their income to buy a house is probably fair enough? If the government hadn`t stepped in it could have been worse for all of us with bail in`s and collapse a plenty? This way people have had a chance to pay down their debt and when rates rise more sellers will be in a position to suck up the losses.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   203 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.