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dougless

Sentiment turning on mumsnet

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People get really sensitive about the “value” of their houses and take low offers as a personal insult. We looked around a property last July, which was clearly overpriced by the EA. We offered 85% of the asking price, which was refused. 
 

Two months later they dropped the asking price by a whopping 2% and we asked for another viewing. They refused because they were insulted by our initial offer 🧐

 

2 months later it still hadn’t sold. Did they drop the price? No. They took it off the market and applied for PP to convert the garage, presumable to sell at an even higher price (they are downsizing so it ain’t for them!).

 

I Wonder how our offer is looking now 😂🤣.

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1 hour ago, dougless said:

This thread is fun and shows how even on mumsnet there is a growing awareness of the perilous state the UK housing market:

https://www.mumsnet.com/Talk/am_i_being_unreasonable/3908606-To-cringe-at-the-British-mentality-on-the-property-market?pg=1

Is this sentiment changing under it's own steam or is getting a little helping hand from a few posters on HPC 😉 

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3 hours ago, crumblingcon said:

Is this sentiment changing under it's own steam or is getting a little helping hand from a few posters on HPC 😉 

No help from me but who knows?

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And what's mad is for many younger families wanting upsize for more space prices being lower suits them...even if the place they are selling goes for less the next one up is even more reduced 🙄. Downsizers have the real financial problem. 

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5 hours ago, Dr Renter said:

People get really sensitive about the “value” of their houses and take low offers as a personal insult. We looked around a property last July, which was clearly overpriced by the EA. We offered 85% of the asking price, which was refused. 
 

Two months later they dropped the asking price by a whopping 2% and we asked for another viewing. They refused because they were insulted by our initial offer 🧐

 

2 months later it still hadn’t sold. Did they drop the price? No. They took it off the market and applied for PP to convert the garage, presumable to sell at an even higher price (they are downsizing so it ain’t for them!).

 

I Wonder how our offer is looking now 😂🤣.

I presume you will go back with a lower offer once their work is complete.

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Many in the mumsnet crowd think that adding the signature dried sticks and a lick of Fall and Barrow entitles them to a fat profit, since their good ‘taste’ has ‘added value to the property’. Reading the comments on the post, you can see that many are oblivious to the fact that it’s actually the availability of credit that sets prices..... it will get interesting once this lot get a dose of negative equity. 

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21 minutes ago, PeanutButter said:

Mums net is a huge site with massive influence across British culture. If the sentiment is turning we would do well to support it.

Agreed which is why I flagged this up.  I wasn't knocking the site or its contributors but was heartened at the fairly rapid change in sentiment.  If you had gone back six months I doubt a thread would have survived that long without a fair degree of input from property rampers; they seem fairly subdued at the moment.

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1 hour ago, Ghostly said:

It reminds me of those episode's of Sarah Beeney's 'Property Ladder' (or whatever it was called), where she basically said, "Your renovations are terrible but luckily the market is rising so you made a profit anyway".

I remember her saying that, she has such a wonderful sense of humour.

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3 hours ago, Ghostly said:

😂😂

How did the asking price compare to the price they paid?

Almost double what they paid.

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12 minutes ago, dougless said:

Agreed which is why I flagged this up.  I wasn't knocking the site or its contributors but was heartened at the fairly rapid change in sentiment.  If you had gone back six months I doubt a thread would have survived that long without a fair degree of input from property rampers; they seem fairly subdued at the moment.

Yes here is another http://www.mumsnet.com/Talk/property/3905613-is-this-the-start-of-the-house-price-plummet

It‘s an easy site to bash (as is MSE) but the number of unique users who visit each day is huge. From a purely analytical pov if mums net hive mind decides the market needs to fall then I’ve got a lot of faith that is what will happen. 

In related news I believe they’re considering having a fee structure for access. 

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2 hours ago, Ghostly said:

It reminds me of those episode's of Sarah Beeney's 'Property Ladder' (or whatever it was called), where she basically said, "Your renovations are terrible but luckily the market is rising so you made a profit anyway".

Some of those are hilarious, They are a fascinating window in to the excesses of the early 2000s. The pwoperty developer "anyone can make money" culture. 

Someone has uploaded many full episodes to Youtube if anyone's in need of a laugh. 

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4 hours ago, Ghostly said:

It reminds me of those episode's of Sarah Beeney's 'Property Ladder' (or whatever it was called), where she basically said, "Your renovations are terrible but luckily the market is rising so you made a profit anyway".

😂

i watched an episode of beeney once and the developer guy thought he was genius for using plastic power sockets at floor level and more expensive chrome ones at eye level. 

i`m sure he saved at least £2 per point doing that. 

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11 hours ago, Ghostly said:

It reminds me of those episode's of Sarah Beeney's 'Property Ladder' (or whatever it was called), where she basically said, "Your renovations are terrible but luckily the market is rising so you made a profit anyway".

It was almost all of them as I recall.

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13 hours ago, PeanutButter said:

Mums net is a huge site with massive influence across British culture. If the sentiment is turning we would do well to support it.

But how did she know about the tuna?

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1 hour ago, Locke said:

They always look terrible anyway.

No I like shiny stuff.

I bought a new build flat years back and everything had chrome Switches apart from the bedroom could not work out why.

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41 minutes ago, longgone said:

No I like shiny stuff.

I bought a new build flat years back and everything had chrome Switches apart from the bedroom could not work out why.

Because chrome switches mean 'aspirational'

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22 hours ago, Dr Renter said:

People get really sensitive about the “value” of their houses and take low offers as a personal insult. We looked around a property last July, which was clearly overpriced by the EA. We offered 85% of the asking price, which was refused. 
 

Two months later they dropped the asking price by a whopping 2% and we asked for another viewing. They refused because they were insulted by our initial offer 🧐

 

2 months later it still hadn’t sold. Did they drop the price? No. They took it off the market and applied for PP to convert the garage, presumable to sell at an even higher price (they are downsizing so it ain’t for them!).

 

I Wonder how our offer is looking now 😂🤣.

My house has increased a lot since I bought.  I am not really happy about this because it just makes everyone else poorer and stops me from moving to a bigger one.

I would have been upset if prices dropped a lot,but I would have been happy if that had dropped by less than I was paying in interest each year.

I really don't understand those who think paper wealth makes them richer.

If downsizing gives you some money just be grateful for what you get (unless you are broke).

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16 hours ago, PeanutButter said:

Mums net is a huge site with massive influence across British culture. If the sentiment is turning we would do well to support it.

Don't necessarily need to if the theories about the 100th monkey are right!

"The hundredth monkey effect is a hypothetical phenomenon in which a new behaviour or idea is said to spread rapidly by unexplained means from one group to all related groups once a critical number of members of one group exhibit the new behaviour or acknowledge the new idea. Wikipedia"😋

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2 hours ago, stuckinlimbo said:

Because chrome switches mean 'aspirational'

But surely the bedroom is a prime location for great aspiration? 😄

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  • 396 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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