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Nationwide House Price Index July 21 Falls


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Thing is, how many times have you heard people complaining that a friend of the agent bought the property they wanted? It's not supposed to happen but of course it does. Yes, developers backhanding, but buying a house is still a human-based process and human responses are hackable. 

And I mean, there are worse markets than ours right now.

Stop writing 'love letters' to sellers in today's real estate market, says President of Ohio Realtors

House with no toilet sells for $2m as New Zealand property market soars

 

@DwellerI hope you're looking at bungalows. 

 

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15 hours ago, Twenty Something said:

Not exactly being forced to slum it then - a large three bed family home with extensive garden and all within spitting distance of the Cotswolds. I bet there is a lot of competition for a place like that from people wanting space to bring up a family primarily, but no totally suitable for a couple of retirees who need all that space because the grandchildren visit once a month? 

Looks under priced to generate qualified best and final competitive offers

 Will be interesting to see what it finally goes for

 

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On 28/07/2021 at 12:32, Smiley George said:

Two houses we viewed last June are still SSTC on Rightmove, there's a long way to go for these properties and there are many things that can happen between SSTC and completion which can impact final selling price (survey results, chain collapse) and whether the chain actually completes or not.

I wouldn't pay much attention to that. The house I sold (completed) in Jan this year is still on RM as SSTC, and the one I just purchased and completed on (Jun) is also still on RM as SSTC.

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On 7/28/2021 at 10:01 AM, Dweller said:

But what is the value when the indexes are saying one thing and the properties are on for 25% over early 2020 prices and even then there are bidding wars?

The surveyor will vaue the property, not the EA.

Sorry to hear about your situation. May I ask why you sold last year before purchasing? Are you now in rented?

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12 hours ago, MonsieurCopperCrutch said:

The surveyor will vaue the property, not the EA.

Sorry to hear about your situation. May I ask why you sold last year before purchasing? Are you now in rented?

He’s in a caravan somewhere in wales having STR’d waiting for the enormous crash that is just around the corner so he can buy a large detached property near a vast area of natural beauty with the quarter of a million quid in his bank account. 
 

PS - life’s unfair because all these families with two wage earners and a need for a large house keep over-bidding for everything. 

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1 minute ago, Twenty Something said:

He’s in a caravan somewhere in wales having STR’d waiting for the enormous crash that is just around the corner so he can buy a large detached property near a vast area of natural beauty with the quarter of a million quid in his bank account. 
 

PS - life’s unfair because all these families with two wage earners and a need for a large house keep over-bidding for everything. 

Thanks. Did he actually STR to live in a rented caravan hoping on a crash, or did his circumstances dictate that he had to live in the caravan? Personally I'd always buy a property before selling my main residence. I'm curious as to the thinking behind doing  the opposite.

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40 minutes ago, MonsieurCopperCrutch said:

Thanks. Did he actually STR to live in a rented caravan hoping on a crash, or did his circumstances dictate that he had to live in the caravan? Personally I'd always buy a property before selling my main residence. I'm curious as to the thinking behind doing  the opposite.

I’m not sure we’ve been furnished with the reasons for selling the primary residence, but it’s something my parents did at the start of this millennium, and it haunts them still to this day. Don’t think they did it expecting a crash - think they had an endowment policy which like many others went wrong and left them with fewer options. I’ve never probed as it’s not something I consider my business.

As for this chap, the problem appears to be a lack of compromise. He posted a link to a large three bed property as an example of what he is after. There seems to be little realisation that he isn’t competing against fellow state pensioners for this, but most probably young families or couples with two full time salaries. There is then a lack of acceptance that having a quarter of a million quid in the bank and a combined stated pension of about £1500 a month is actually a pretty good situation to be in. 
 

It’s a bit like me saying I keep getting outbid on Ferrari’s by investment bankers. I don’t want to drive a Ford, I deserve a Ferrari, and I’m not compromising and it is the fault of the world that I can’t have what I want. Two brief searches in two areas he’s looking at found nearly 8,000 properties to choose from under £200,000. He is happy to live anywhere between Chester and Penzance by the sounds of things, and isn’t tied anywhere by jobs etc. Maybe someone should give Kirsty and Phil a call.

 

 

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4 hours ago, Twenty Something said:

I’m not sure we’ve been furnished with the reasons for selling the primary residence, but it’s something my parents did at the start of this millennium, and it haunts them still to this day. Don’t think they did it expecting a crash - think they had an endowment policy which like many others went wrong and left them with fewer options. I’ve never probed as it’s not something I consider my business.

As for this chap, the problem appears to be a lack of compromise. He posted a link to a large three bed property as an example of what he is after. There seems to be little realisation that he isn’t competing against fellow state pensioners for this, but most probably young families or couples with two full time salaries. There is then a lack of acceptance that having a quarter of a million quid in the bank and a combined stated pension of about £1500 a month is actually a pretty good situation to be in. 
 

It’s a bit like me saying I keep getting outbid on Ferrari’s by investment bankers. I don’t want to drive a Ford, I deserve a Ferrari, and I’m not compromising and it is the fault of the world that I can’t have what I want. Two brief searches in two areas he’s looking at found nearly 8,000 properties to choose from under £200,000. He is happy to live anywhere between Chester and Penzance by the sounds of things, and isn’t tied anywhere by jobs etc. Maybe someone should give Kirsty and Phil a call.

 

 

I do see what you mean. Maybe @Dweller can confirm how his circumstances developed? Not everyone intentionally STR's but I guess it's possible he did. 

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