88Crash Posted November 27, 2005 Share Posted November 27, 2005 (edited) We already know what creates a forced seller Death, Divorce etc, But there is one forced seller that is discretely flogging property cheaper than private sellers. It won’t be much longer before ‘discrete’ becomes a public ‘free for all’ To use a phrase the VI’s like to use, I would venture "This time it will be different" During the last crash, developers had a limited effect on the market and generally chased down the prices along with everybody else Even the biggest builders had limited UK coverage and most (if no all) were not even in the FTSE250 Now all the big guys are listed plc's and with Persimmon announcing a buy out of Westbury last week, Persimmon will be the first UK housebuilder to make the FTSE 100 Persimmon can't wait around for the 'stalemate' between buyers and sellers, forever – Persimmon, etc ARE the equivalent of forced sellers Edited November 27, 2005 by 88Crash Quote Link to comment Share on other sites More sharing options...
Realistbear Posted November 27, 2005 Share Posted November 27, 2005 I have always believed the new construction sales will lead the market down. Builders sell to make a profit or, in a falling market, to avoid a loss. There is no sentiment, no pride, no irrational expectations. When the market is turning negative they unload stock just like any other seller to the public. Quote Link to comment Share on other sites More sharing options...
88Crash Posted November 27, 2005 Author Share Posted November 27, 2005 When the market is turning negative they unload stock just like any other seller to the public. They are already 'unloading stock' but its discreet via hidden discounts No one builder wants to be the first, to openly drop their prices on a national scale However, you may remember about a year ago, there were NO hidden discounts (i.e. cash back, stamp duty paid etc,) Once one volume builder started advertsiing 'offers', the others had no choice but to follow It will be the same if one big builder starts to openly reduce prices i.e. "2 bed apartments - fantastic offers - 50K off last years prices" There are only two possible outcomes 1. Prices and sales volumes start rising across the UK next spring and FTB's come out to play 2. Cut Throat pricing will begin Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted November 27, 2005 Share Posted November 27, 2005 Bring it on! Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted November 27, 2005 Share Posted November 27, 2005 I remember a story from the last recession about a family who paid top whack for the first 4 bed house in a large development.The rest of the houses (about 10 of them) were eventually sold off to the council at a discount.The original family tried to sue for loss of equity. Quote Link to comment Share on other sites More sharing options...
IP Newcomer Posted November 27, 2005 Share Posted November 27, 2005 How can vultures like us find the really cheap houses? The developers aren't going to be advertising them, are they? I know that one way they are discretely driving the market down is by taking houses at full price "part exchange" and then selling them on cheaper for ready cash. How else are we to get really cheap houses from them? Write to them directly? Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted November 27, 2005 Share Posted November 27, 2005 We already know what creates a forced seller Death, Divorce etc, But there is one forced seller that is discretely flogging property cheaper than private sellers. It won’t be much longer before ‘discrete’ becomes a public ‘free for all’ To use a phrase the VI’s like to use, I would venture "This time it will be different" During the last crash, developers had a limited effect on the market and generally chased down the prices along with everybody else Even the biggest builders had limited UK coverage and most (if no all) were not even in the FTSE250 Now all the big guys are listed plc's and with Persimmon announcing a buy out of Westbury last week, Persimmon will be the first UK housebuilder to make the FTSE 100 Persimmon can't wait around for the 'stalemate' between buyers and sellers, forever – Persimmon, etc ARE the equivalent of forced sellers What are/were the four Ds the market commentators often refer to, death divorce are the first two anyone know the other two? Quote Link to comment Share on other sites More sharing options...
Once in a lifetime Posted November 27, 2005 Share Posted November 27, 2005 How can vultures like us find the really cheap houses? The developers aren't going to be advertising them, are they? I know that one way they are discretely driving the market down is by taking houses at full price "part exchange" and then selling them on cheaper for ready cash. How else are we to get really cheap houses from them? Write to them directly? Monitor and check the houses that got sold, and then came back on the market. Get a friend to put an offer in, then mess the seller about delaying surveys etc… (make sure the solicitor is no purchase no fee) Delay the process as much as possible; get another friend to jerk them around some more. After a few failed sales the price goes down nicely. Very naughty, but it happens all the time. War is hell! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted November 27, 2005 Share Posted November 27, 2005 Dentist bills? Quote Link to comment Share on other sites More sharing options...
ʎqɐqɹǝʞɐɥs Posted November 27, 2005 Share Posted November 27, 2005 What are/were the four Ds the market commentators often refer to, death divorce are the first two anyone know the other two? Debt? Dumbness? Quote Link to comment Share on other sites More sharing options...
camem' Posted November 27, 2005 Share Posted November 27, 2005 Debt? Dumbness? Dire spelling ? More usefully : Death, Divorce, Destitution or Disease (markets) Death, Disability, Divorce, and, Departing (business strategy) Death, Divorce, Destruction (emotional.lifetips.com - some counting issues here) Quote Link to comment Share on other sites More sharing options...
Catch22 Posted November 27, 2005 Share Posted November 27, 2005 Dire spelling ? Quote Link to comment Share on other sites More sharing options...
Bedsprings Posted November 27, 2005 Share Posted November 27, 2005 Death Divorce & Downsizing seem to be the only reasons for sale at the moment where I am - plus, I suppose, though it's more hidden, Debt. Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted November 27, 2005 Share Posted November 27, 2005 Death Divorce & Downsizing seem to be the only reasons for sale at the moment where I am - plus, I suppose, though it's more hidden, Debt. Are we agreed the 4 are: Death Divorce Debt Departing (moving not death) Downsizing could make it 5 Quote Link to comment Share on other sites More sharing options...
Solvent Celt Posted November 28, 2005 Share Posted November 28, 2005 Distressed Debtor? Quote Link to comment Share on other sites More sharing options...
GCS15 Posted November 28, 2005 Share Posted November 28, 2005 Monitor and check the houses that got sold, and then came back on the market. Get a friend to put an offer in, then mess the seller about delaying surveys etc… (make sure the solicitor is no purchase no fee) Delay the process as much as possible; get another friend to jerk them around some more. After a few failed sales the price goes down nicely. Very naughty, but it happens all the time. War is hell! Bring it ON IMHO - They would be happy if you paid 100k over what they paid 1 year ago, so I'm happy to pay 100k less. Don't ask for mercy from a FTB now who was shown none in the past :angry: I'm serious. They would be more than happy to saddle GCS15 and his young family with a millstone debt. So to hell with them. If anyone is going to financially ruined it isn't going to be me :angry: Quote Link to comment Share on other sites More sharing options...
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