yodigo Posted April 26 Share Posted April 26 3 hours ago, winkie said: Ridiculous.......any potential buyer is looking past existing vendors junk, trinkets, mess and furniture......something they are not buying, they are buying four walls, floor space, roof, condition, potential and outside space.......most of all location. 100% Yes. Well some of us, may be not all 🧐, and how much to replace the bathroom... Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted April 27 Share Posted April 27 https://www.mumsnet.com/talk/property/5063646-house-has-been-on-for-sale-for-nearly-a-year-with-no-offers-would-love-some-feedback-and-advice Quote Link to comment Share on other sites More sharing options...
shlomo Posted April 27 Share Posted April 27 18 minutes ago, PeanutButter said: https://www.mumsnet.com/talk/property/5063646-house-has-been-on-for-sale-for-nearly-a-year-with-no-offers-would-love-some-feedback-and-advice It is overpriced by about £100k Quote Link to comment Share on other sites More sharing options...
Huggy Posted April 27 Share Posted April 27 15 minutes ago, shlomo said: It is overpriced by about £100k More floorlans, greater distance from Manchester, and 400 grand off More twigs and wall clocks too I guess...? Quote Link to comment Share on other sites More sharing options...
shlomo Posted April 27 Share Posted April 27 2 minutes ago, Huggy said: More floorlans, greater distance from Manchester, and 400 grand off More twigs and wall clocks too I guess...? Not many fools left out their I have been discussing this situation with a friend and we have come to the conclusion that is was outside money that caused HPI and now that Russian and Chinese money has gone the floor has gone, and also add on high interest rates and it is finally over. Quote Link to comment Share on other sites More sharing options...
Huggy Posted April 27 Share Posted April 27 (edited) 14 minutes ago, shlomo said: Not many fools left out their I have been discussing this situation with a friend and we have come to the conclusion that is was outside money that caused HPI and now that Russian and Chinese money has gone the floor has gone, and also add on high interest rates and it is finally over. I concur with you and your friend. Interest rates and the attempted mutiny against America have caused the biggest bull trap ever seen. Edited April 27 by Huggy Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted April 27 Share Posted April 27 46 minutes ago, shlomo said: It is overpriced by about £100k But.. But.. "we can’t afford to drop any lower anyway to avoid making a loss" Quote Link to comment Share on other sites More sharing options...
shlomo Posted April 27 Share Posted April 27 8 minutes ago, DownwardSlopingPlateau said: But.. But.. "we can’t afford to drop any lower anyway to avoid making a loss" I do wonder about the people who purchased in the past 5 years whos main reason was to purchase an asset that is/was appreciating in value and it just happened to be houses based on historical data Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted April 28 Share Posted April 28 Got 3 of these chancers in our small estate. At least 50k overpriced. None of them can afford to lower the price to meet the price buyers are able to pay. I think estate agents should start charging £50 per month to sell your house. That would soon take a lot of these idiots off the market Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted April 28 Share Posted April 28 11 hours ago, PeanutButter said: https://www.mumsnet.com/talk/property/5063646-house-has-been-on-for-sale-for-nearly-a-year-with-no-offers-would-love-some-feedback-and-advice I drive past this house fairly often and it is almost directly under Manchester Airports flight path and the planes are really low at that point, as in gear down and wave at the passengers low. All of Cheadle Hulme is laughably overpriced, there aren’t the jobs here to support those prices without cheap credit. Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted April 28 Share Posted April 28 11 hours ago, PeanutButter said: https://www.mumsnet.com/talk/property/5063646-house-has-been-on-for-sale-for-nearly-a-year-with-no-offers-would-love-some-feedback-and-advice That is crazy money for a 3 bed in Stockport. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted April 28 Share Posted April 28 25 minutes ago, LetsBuild said: All of Cheadle Hulme is laughably overpriced, there aren’t the jobs here to support those prices without cheap credit. After one year on the market unsold, I think she's - slowly - catching on. 🤣 Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted April 28 Share Posted April 28 18 minutes ago, DownwardSlopingPlateau said: After one year on the market unsold, I think she's - slowly - catching on. 🤣 As other people have said the local pub across the road from them ‘The Hesketh’ which was nice in 2021 when she bought having just had a covid refresh shortly went under in 2022 and has been sat there derelict and boarded up (metal plates on the windows) ever since. They need to accept reality. Quote Link to comment Share on other sites More sharing options...
nero120 Posted April 28 Share Posted April 28 This is a good one to watch! Quote Link to comment Share on other sites More sharing options...
Sackboii Posted April 28 Share Posted April 28 7 minutes ago, nero120 said: This is a good one to watch! I know! Added to my saved list for entertainment purposes. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted April 28 Share Posted April 28 As ever fellas, I beg you not to tip the cows. Quote Link to comment Share on other sites More sharing options...
70PC Posted April 28 Share Posted April 28 38 minutes ago, DownwardSlopingPlateau said: After one year on the market unsold, I think she's - slowly - catching on. 🤣 A few are coming up with usual nonsense about price but reading the thread, the real problem appears to be no floor plan. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted April 28 Share Posted April 28 19 minutes ago, 70PC said: A few are coming up with usual nonsense about price but reading the thread, the real problem appears to be no floor plan. Yep, a picture paints a thousand words. Or in this case, adds two hundred thousand pounds or so. 🏡 Quote Link to comment Share on other sites More sharing options...
Si1 Posted April 28 Share Posted April 28 40 minutes ago, LetsBuild said: As other people have said the local pub across the road from them ‘The Hesketh’ which was nice in 2021 when she bought having just had a covid refresh shortly went under in 2022 and has been sat there derelict and boarded up (metal plates on the windows) ever since. They need to accept reality. Ouch. Mark to market beckoning on that house then Quote Link to comment Share on other sites More sharing options...
mynamehere Posted April 28 Share Posted April 28 It's not rational, but sellers hate to sell at a loss. The OP says 'I'm beginning to think we will be stuck here forever'. So would rather stay in a house that is not suitable, than sell at a loss.... and her idea of loss arbitrarily includes money spent on work. So nothing rational about it, but if people can't bring themselves to sell at a loss and would rather sacrifice their happiness or other spending, then it's no mystery why the 'crash' is more visible in volume than price Quote Link to comment Share on other sites More sharing options...
shlomo Posted April 28 Share Posted April 28 2 hours ago, The Angry Capitalist said: That is crazy money for a 3 bed in Stockport. JaneDoe72 · Yesterday 23:19 I think a lot of it is the market, the high interest rates are making everyone cautious. For what it's worth, we're in a very similar situation. We have a second home that's no longer needed. Put it on the market August last year. In six months we had maybe a dozen viewings, not a single offer. Reduced price twice, reluctant to reduce further (but we may have to in the end). Changed estate agents, hoping that would help. New estate agent for two months, not even a single viewing that I'm aware of. We have a mortgage on this house, which we still have to pay - it's interest only as the house was bought as a buy to let and the monthly payments have literally doubled in the past two years. We never anticipated to have to pay that for this long and the cost is killing us, Hang in there; I hope some of the feedback you're getting is helping you improve the listing and sell. Quote Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted April 28 Share Posted April 28 20 minutes ago, shlomo said: JaneDoe72 · Yesterday 23:19 I think a lot of it is the market, the high interest rates are making everyone cautious. For what it's worth, we're in a very similar situation. We have a second home that's no longer needed. Put it on the market August last year. In six months we had maybe a dozen viewings, not a single offer. Reduced price twice, reluctant to reduce further (but we may have to in the end). Changed estate agents, hoping that would help. New estate agent for two months, not even a single viewing that I'm aware of. We have a mortgage on this house, which we still have to pay - it's interest only as the house was bought as a buy to let and the monthly payments have literally doubled in the past two years. We never anticipated to have to pay that for this long and the cost is killing us, Hang in there; I hope some of the feedback you're getting is helping you improve the listing and sell. Quote People need to learn houses are not liquid assets. They take time to sell even in the best of times. 2020 covid era was insane and an anomaly that won't be repeated in our lifetimes. The sales data for 2024 is going to be interesting. Expecting it to be severely down compared to 2023 and that year was not great for sales numbers. Quote Link to comment Share on other sites More sharing options...
Si1 Posted April 28 Share Posted April 28 1 hour ago, mynamehere said: It's not rational, but sellers hate to sell at a loss. The OP says 'I'm beginning to think we will be stuck here forever'. So would rather stay in a house that is not suitable, than sell at a loss.... and her idea of loss arbitrarily includes money spent on work. So nothing rational about it, but if people can't bring themselves to sell at a loss and would rather sacrifice their happiness or other spending, then it's no mystery why the 'crash' is more visible in volume than price Also govts tend to push schemes to protect homeowners in these scenarios. So house prices can be a bit sticky on the downside, but the long run curve of house prices will still show real long term fundamentals which in an era of upwardly correcting interest rates will still be down Quote Link to comment Share on other sites More sharing options...
shlomo Posted April 28 Share Posted April 28 22 minutes ago, The Angry Capitalist said: People need to learn houses are not liquid assets. They take time to sell even in the best of times. 2020 covid era was insane and an anomaly that won't be repeated in our lifetimes. The sales data for 2024 is going to be interesting. Expecting it to be severely down compared to 2023 and that year was not great for sales numbers. TheMuskratOfDestiny · Today 09:04 Solgrass · Today 08:57 Interior of property is fine. Exterior of property- needs some work. -Get rid of the satellite dish -Get rid the alarm boxes (why two? -reroute the wires that run along the outside, it doesn’t look good. -fresh paint on the exterior. Maybe even a light pastel -New front door -window boxes This has ****** all to do with kerb appeal. Encouraging the op to spend more money isn't the answer here. It's massively overpriced. By at least 150k Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted April 28 Share Posted April 28 1 minute ago, shlomo said: TheMuskratOfDestiny · Today 09:04 Solgrass · Today 08:57 Interior of property is fine. Exterior of property- needs some work. -Get rid of the satellite dish -Get rid the alarm boxes (why two? -reroute the wires that run along the outside, it doesn’t look good. -fresh paint on the exterior. Maybe even a light pastel -New front door -window boxes This has ****** all to do with kerb appeal. Encouraging the op to spend more money isn't the answer here. It's massively overpriced. By at least 150k I'm sure they will figure it out eventually. However, many people are going to be stuck in their properties who leveraged themselves in the last 5 years because to make a sale will involve taking a loss and many will not do that. Therefore, they will just have to be content with what they have and work to pay off their debts. The country needs to be taught some harsh lessons because we was on an unsustainable path. Quote Link to comment Share on other sites More sharing options...
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