Realistbear Posted July 12, 2007 Share Posted July 12, 2007 (edited) http://property.timesonline.co.uk/tol/life...icle2064737.ece From The TimesJuly 13, 2007 Why can’t we sell our home? Answer: you don’t live in a fashionable postcode, says Susan Emmett ..../ Their five-bedroom detached house in Coventry may be on a pretty tree-lined road near the city centre, good schools and a railway link to London, but the property has languished on the shelf for more than six months. A change of estate agent and a £100,000 drop in the asking price to £799,950 in May brought one viewing and no offers. For the Martins, this is hardly what you would call a sellers’ market. Top-end Central London prices might well be stoked by wealthy Russians taking advantage of tax breaks, but this is hardly the reality across the country, where buyers are constrained by rising interest rates and onerous stamp duty. “When we decided to drop the price we thought that would have a significant effect, but it hasn’t,” said Kevin Martin, a solicitor and former president of the Law Society. “The market has been much quieter than we anticipated. I see a lot of ‘For Sale’ signs around the area, but not many ‘Sold’. There seems to be a shortage of people willing and able to proceed in this sort of price range.” Nice to see a dose of reality in my neck of the woods. I have always felt the reports showing prices rising in the W Midlands were inaccurate given the dire state of employment and debt levels. 100k off will just be the opening round. These kinds of homes could well see 50-60% of their "value" wiped out in a short space of time. Edited July 12, 2007 by Realistbear Quote Link to comment Share on other sites More sharing options...
justAnotherFTB Posted July 12, 2007 Share Posted July 12, 2007 http://property.timesonline.co.uk/tol/life...icle2064737.eceFrom The TimesJuly 13, 2007 Why can’t we sell our home? Answer: you don’t live in a fashionable postcode, says Susan Emmett ..../ Their five-bedroom detached house in Coventry may be on a pretty tree-lined road near the city centre, good schools and a railway link to London, but the property has languished on the shelf for more than six months. A change of estate agent and a £100,000 drop in the asking price to £799,950 in May brought one viewing and no offers. For the Martins, this is hardly what you would call a sellers’ market. Top-end Central London prices might well be stoked by wealthy Russians taking advantage of tax breaks, but this is hardly the reality across the country, where buyers are constrained by rising interest rates and onerous stamp duty. “When we decided to drop the price we thought that would have a significant effect, but it hasn’t,” said Kevin Martin, a solicitor and former president of the Law Society. “The market has been much quieter than we anticipated. I see a lot of ‘For Sale’ signs around the area, but not many ‘Sold’. There seems to be a shortage of people willing and able to proceed in this sort of price range.” Nice to see a dose of reality in my neck of the woods. I have always felt the reports showing prices rising in the W Midlands were inaccurate given the dire state of employment and debt levels. 100k off will just be the opening round. These kinds of homes could well see 50-60% of their "value" wiped out in a short space of time. £0.8M house won't sell eh? Boo hoo. :angry: Hope they hang on until the "value" is 5-600k Quote Link to comment Share on other sites More sharing options...
Xurbia Posted July 12, 2007 Share Posted July 12, 2007 You know you're definitely in a bubble when rich people are moaning like this. There would seem to be a shortage of idiots prepared to pay these silly prices. Greed doesn't sell houses. If they don't price it right then they won't be moving. It's an easy choice to make but no point in bitching about it because 95% of the population couldn't care less if the former president of the law society cannot sell his house for a premium figure. I've had such a tiresome week too. I've been trying to sell dog turds at 200 quid a shot but got no takers. Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted July 12, 2007 Share Posted July 12, 2007 New tactic by EAs in my area, reduce the price but don`t stick a reduced sticker on the property. Quote Link to comment Share on other sites More sharing options...
MRMX9 Posted July 12, 2007 Share Posted July 12, 2007 £800K for a house in Coventry - someones taking the p? Quote Link to comment Share on other sites More sharing options...
lets get it right Posted July 12, 2007 Share Posted July 12, 2007 http://property.timesonline.co.uk/tol/life...icle2064737.eceFrom The TimesJuly 13, 2007 Why can’t we sell our home? Answer: you don’t live in a fashionable postcode, says Susan Emmett ..../ Their five-bedroom detached house in Coventry may be on a pretty tree-lined road near the city centre, good schools and a railway link to London, but the property has languished on the shelf for more than six months. A change of estate agent and a £100,000 drop in the asking price to £799,950 in May brought one viewing and no offers. For the Martins, this is hardly what you would call a sellers’ market. Top-end Central London prices might well be stoked by wealthy Russians taking advantage of tax breaks, but this is hardly the reality across the country, where buyers are constrained by rising interest rates and onerous stamp duty. “When we decided to drop the price we thought that would have a significant effect, but it hasn’t,” said Kevin Martin, a solicitor and former president of the Law Society. “The market has been much quieter than we anticipated. I see a lot of ‘For Sale’ signs around the area, but not many ‘Sold’. There seems to be a shortage of people willing and able to proceed in this sort of price range.” Nice to see a dose of reality in my neck of the woods. I have always felt the reports showing prices rising in the W Midlands were inaccurate given the dire state of employment and debt levels. 100k off will just be the opening round. These kinds of homes could well see 50-60% of their "value" wiped out in a short space of time. 700k to live in Coventry! I'd expect a whole road for that price. Feck 'em. Greedy b@stards. Quote Link to comment Share on other sites More sharing options...
lets get it right Posted July 12, 2007 Share Posted July 12, 2007 £800K for a house in Coventry - someones taking the p? Heh, heh, great minds think alike! Quote Link to comment Share on other sites More sharing options...
IDN Posted July 12, 2007 Share Posted July 12, 2007 Heh, heh, great minds think alike! agree- if you had 800k-surely you wouldnt live in coventry Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted July 12, 2007 Share Posted July 12, 2007 (edited) change of estate agent and a £100,000 drop in the asking price to £799,950 I thought a £100,000 drop seemed a bit much, until I saw the asking price. agree- if you had 800k-surely you wouldnt live in coventry Edited July 12, 2007 by Bart of Darkness Quote Link to comment Share on other sites More sharing options...
Togo Joe Posted July 12, 2007 Share Posted July 12, 2007 There are no rich bastards in Togo, Ivory Coast, Benin, Nigeria, DRC, Russia, China, India, Faroe Islands,Cook Islands, Andorra...WHO WANT TO LIVE IN COVENTRY. Do you understand ? Quote Link to comment Share on other sites More sharing options...
@contradevian Posted July 12, 2007 Share Posted July 12, 2007 I thought a £100,000 drop seemed a bit much, until I saw the asking price. I did wonder how the the lack of FTB's would change the dynamic of the housing market. The only people who could afford £700k in Coventry would be people further down the ladder using the "monopoly money" in their existing house. But who do the people further down sell to? Fewer "FTB's" means fewer people trading up. Quote Link to comment Share on other sites More sharing options...
HPC Convert Posted July 12, 2007 Share Posted July 12, 2007 There are no rich bastards in Togo, Ivory Coast, Benin, Nigeria, DRC, Russia, China, India, Faroe Islands,Cook Islands, Andorra...WHO WANT TO LIVE IN COVENTRY. Do you understand ? Probably not. There are however legions of poor people from the delightful places that you list that do live in Coventry. Thats why it aint selling. Quote Link to comment Share on other sites More sharing options...
Togo Joe Posted July 12, 2007 Share Posted July 12, 2007 Probably not. There are however legions of poor people from the delightful places that you list that do live in Coventry. Thats why it aint selling. Well, that's true I suppose. But give 800k to the poor bastards from assorted countries who live in Coventry...and the first thing they will do is get on their horse and head out of town. Rich bastards and poor bastards think alike given equality of opportunity. Only Coventry council workers think differently. Quote Link to comment Share on other sites More sharing options...
Xurbia Posted July 13, 2007 Share Posted July 13, 2007 There are no rich bastards in Togo, Ivory Coast, Benin, Nigeria, DRC, Russia, China, India, Faroe Islands,Cook Islands, Andorra...WHO WANT TO LIVE IN COVENTRY. Do you understand ? That's quite an impressive geographical list. Can you explain what connection the poor bastards who live in these places have with Coventry. The list seems somewhat esoteric in nature e.g. Nigeria and Andorra. Am I missing the point here? Are they all twinned with Coventry. It would be quite a big sign to write though i.e. "Coventry greedy bastards - twinned with poor bastards in Togo, Ivory Coast, Benin, Nigeria, DRC, Russia, China, India, Faroe Islands,Cook Islands, Andorra". Quote Link to comment Share on other sites More sharing options...
Timil Posted July 13, 2007 Share Posted July 13, 2007 Boo Hoo Welcome to real world circa 2007/8/9, get off while you can. Quote Link to comment Share on other sites More sharing options...
HPC Convert Posted July 13, 2007 Share Posted July 13, 2007 But give 800k to the poor bastards from assorted countries who live in Coventry...and the first thing they will do is get on their horse and head out of town. Rather depressingly i expect that over time, the UK taxpayer does give this level of cash to many of the scroungers that flock to this country. Quote Link to comment Share on other sites More sharing options...
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