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OLDFTB

Expats Kick Themselves

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"house on market for 10 weeks, no viewing, dropped price £15000 last week. had viewing on fri 13th !! offer put in by viewer another £10000 below asking price, turned offer down, viewer went elswhere, now beating self up, on "should i of cut losses and sold"??"

What were folks on here warning about months ago?

Accept the offer because a few months down the line you will be offered even less!!!

http://britishexpats.com/forum/showthread....98&page=8&pp=15

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OLDFTB,

Very interesting to look overall at the position of sales/no sales though. Some are selling, some are selling prety quickly for somewhere near or at asking prices, whereas others have had a phenominal number of viewings and not a sniff.

Maybe it just goes to show how fragmented the market is, how some agents/sellers are woefully overpricing stock whilst others are not and how there are large regional variations.

What it also shows is that some peole have very lofty expectations, set a high price and sit there and expect it to sell, viewings or no viewings, totally disregarding what the market is telling them. Like you say these peolpe may well still be sitting there chasing the market down if their area is the next one on the list to crack.

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"Chasing it Down!"

Chasing it down

From above

Chasing the Market

Entering or exiting of a trend after the trend has already been well established. Investors are often unaware of the fact that they are chasing the market which can dent the value of a portfolio. This type of investing is often seen as irrational as decisions are often based on emotion instead of careful analysis of the value of the investment.

Notes:

Chasing the market refers to both the entering into highly priced positions after they have rapidly increased and become overvalued as well as the exiting of positions after they have rapidly decreased and become undervalued. During the internet bubble some investors entered the rapidly appreciating sector well after the trend had been established and lost considerable sums when the bubble bust.

Googled, I know, but all the same relevant.

It's so exciting, "Ooh I could crush a Grape !"

Edited by SithClone7

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It sounds like more EAs are beginning to give more realistic valuations...it's not going down very well with the expats though...after all they need 50K profit from their ex-council semi to start a new life in Oz :P

Had one out yesterday who valued the house at what we thought was the price, very positive, throughly nice lady.......

Today had a different one round a bloke this time.....

He criticised all the rooms that weren't finished (we are decorating at the moment), he criticised the garden (okay its not in the best of states), he criticised the fact we have a back boiler...... etc etc etc and then valued it as £13K LESS than the first estate agent!!!!!!!!!!

Our first valuation from a so called Estate agent was for £155,000...we practically threw him out of the house on his ****..
Know what you mean, we had one last friday told us a price that is £45k less than all the other houses within a 1/2 mile radius of ours. When he said the price I actually laughed! then he said well we could advertise it for an extra £20k then drop if you need to. I told him where to go and have another valuer booked in for this Friday.

It'ds not like our house is in the higher end of the market as it's only an ex-council house on the edge of an estate, so £45k is more than my mortgage!

SNAP! Ours is a 2 bed Semi (ex-council).... £13K is a lot of £ to us....... but £45! That is more than our mortgage too! We have had an offer but I told them to get stuffed....... they offered £24K less than our asking price!
Well I've been looking round at all the houses by me and the only thing you can get for £75k (the price he said our's was worth) is a 2 bed terrace with a downstairs (cellar) kitchen and no central heating, ours has 3 beds, all mod cons, brand new fitted kitchen less than 1 year old with dishwasher, washer, cooker and waste disposal unit (cost £15k). All the rest are similar to ours and selling for £110k within a fortnight!

I'll be happy to settle for £95k which will give us £50k for Oz and pay all agents fees etc.

Got me thinking he had a mate who he wanted to sell it to, as I know his happens! All I want is a fair price, but I'm not giving it away.

http://britishexpats.com/forum/showthread.php?t=349152

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As the Oz PM said (about Kiwis moving to Oz I think), these sort of people (ie prospective expat house sellers) are increasing the average IQ of both countries if they leave...

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As the Oz PM said (about Kiwis moving to Oz I think), these sort of people (ie prospective expat house sellers) are increasing the average IQ of both countries if they leave...

That would be the Kiwi ex-PM... David Lange.

T&T

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I've done the same thing myself in 2000 , sold up and left. Problem here is that some of the folks on there are confused about what they are doing. Do they want to move abroad or do they want to make money on their house. What is the highest priority for them.....I think its pretty clear that to some the money is everything and the move abroad is just the way to get at the money. Once they get to Oz or wherever they will then be left asking , what the hell am I doing here....

As long as they are not in a loss situation which would be impossible for most folks they should sell it for what they can get and just pack up and go. If I were the guy who knocked back the 10K under offer I'd have went back and said 5K more and split the difference. At least it keeps the door open. Just to reject and do nothing in their position is absolutely mental...

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Once they get to Oz or wherever they will then be left asking , what the hell am I doing here....

:lol: I've been thinking that for 30 odd years, ever since my folks brought me here.

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That famous line: "All I want is a fair price, but I'm not giving it away."

You can always counter that with...... Did you think you paid a fair price when you purchased it? If so I'll give you £5K more than that, that makes it better than a fair price.

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It sounds like more EAs are beginning to give more realistic valuations...it's not going down very well with the expats though...after all they need 50K profit from their ex-council semi to start a new life in Oz :P

http://britishexpats.com/forum/showthread.php?t=349152

Sounds like they are getting paranoid (thinking EA has a mate to buy their crappy houses cheap). Feck em all and their little ex-council semis. They are just beginning to wake up to reality and 2006 is going to be bad for them.

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  • 301 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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