BandWagon Report post Posted November 30, 2005 (edited) http://britishexpats.com/forum/showthread....7&page=10&pp=15 We have now had our house up for sale for exactly one year (how time flies!) we still dont have the visa and were trying to be one step ahead, planning on renting or moving in with in laws. Anyway houses in our area arent selling very well and as a result we have ended up reducing the house from 220K to offers over 189k - which is really bottom end of what we need to make the move to Oz. In the first 11 months on the market we received half a dozen viewers, we have just reduced again in August and are now getting 2 - 3 viewers per week. we have just refused an offer of 185K ??? this afternoon and dont know if this was the right decision so now consuming large amounts of wine (australian) to deaden the pain! Good luck to everyone in the same boat. Reading through the posts it appears that dropping the price 15% is fairly common now. Not sure what that says about the original asking prices, but the denial has definitely gone. If you want to sell, you have to drop the price. Simple as that. Or spend a year with your house on the market making the place look nice for people you will never know. They're also talking about the price falls in Oz, if they're clever they'll rent when they get there for a couple of years, and buy when it makes sense. Part of me feels sorry for them, part of me wants to laugh. Part of me wants to scream. Edited November 30, 2005 by BandWagon Quote Share this post Link to post Share on other sites
libitina Report post Posted November 30, 2005 They turned it down for the sake of £4k? Quote Share this post Link to post Share on other sites
The Masked Tulip Report post Posted November 30, 2005 LMAO - 15% reduction is nothing in the World's biggest bubble ever! Quote Share this post Link to post Share on other sites
Guest muttley Report post Posted November 30, 2005 They turned it down for the sake of £4k? People can be very irrational.The problem is that the vendor drew a line in the sand and the offer was too near.You could equally say that the potential buyer was wrong not to offer the extra £4k. The trick here is to go in with a much lower offer to let the vendor know that you do not acknowledge their "offers over".Then you can negotiate. Quote Share this post Link to post Share on other sites
BandWagon Report post Posted November 30, 2005 (edited) I think 15% off in the first year of this crash is really good going, considering that there haven't been any major economic shocks, and the unemployment rate hasn't jumped up yet. GDP growth has subsequently slumped quite badly, we now have one of the weakest economies in Europe. Unemployment is now rising as is usual at this stage of the economic cycle, and the Pound is falling quite consistently, which will import inflation. All in all things are going quite well according to schedule... Edited November 30, 2005 by BandWagon Quote Share this post Link to post Share on other sites
Randall Herbert Report post Posted November 30, 2005 This is complete and utter bunkum! I'm going to write to my MP EVERYONE knows that house prices whent up by 0.4% last month!!!!! Houseprices do not fall.. Watch my lips House prices DO NOT FALL!! 15% off? What is this the Xmas sales!! :-) You just wait till the spring sales!!!!!!!!!!!!! Quote Share this post Link to post Share on other sites
msgin Report post Posted December 1, 2005 This has to be my favourite comment on the thread We've had ours up since mid July (1 viewer in July, 1 viewer in Aug, 1 viewer in September) since reducing the price in September by 12k - no viewers.Changing estate agents tomorrow and 'increasing' the price by 7k, so we shall see what happens. Quote Share this post Link to post Share on other sites
FTBagain Report post Posted December 1, 2005 I like the poll at the top of the thread. 24% have had to reduce their asking price!! Now that is a change from 18 months. Odaat seems to be very bearish. He also, seems very turned on to all the various wheezes. Much more effective option is to make the buyers journey as smooth as possible financially by providing a "no money down" deal .... i.e. offer the buyer a gifted deposit and pay the 5% deposit, pay the stamp duty and 500 pounds towards legals PLUS make sure the property is in immaculate cosmetic condition. I would also make it clear to the EA that clients will only be allowed to view if they can confirm they have cash or a mortgage offer approved. The beauty of making a "no money down offer" to the seller is that you can demand a 1% non refundable deposit to be held right from the beginning which removes all the time-wasters. Things must have changed over there if he is still allowed to post. It does seem as if sentiment is changing. Not quite at the panic stage yet, but they are deffinately moving out of the denial stage. Good news! Quote Share this post Link to post Share on other sites
