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BROF

Still Some Life In The Old Dog Yet

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Purely anecdotal:

I'm in the process of selling a 3 bed semi due to bereavement in the family. First offer came in after only 5 days on the market, 5k under asking price. Was ready to accept when 3 subsequent offers came in ....all in cash.... :blink: ....the best being 2k over asking price. This is in South Yorkshire, not central London.

Not wanting to put a dampener on proceedings here but it seems that the HPI monster is not completely dead, yet.

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Purely anecdotal:

I'm in the process of selling a 3 bed semi due to bereavement in the family. First offer came in after only 5 days on the market, 5k under asking price. Was ready to accept when 3 subsequent offers came in ....all in cash.... :blink: ....the best being 2k over asking price. This is in South Yorkshire, not central London.

Not wanting to put a dampener on proceedings here but it seems that the HPI monster is not completely dead, yet.

There are always a few numpties with cash out there. My boss is currently on the hunt with 100K cash and 200K mortgage in principle. He confidently and somewhat arrogantly assures me that the next rate move is down and this will reinvigorate the market.

Silly cunit. Im sitting back and watching :ph34r:

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Crazy.

Depends upon what the asking price was... I'd expect downsizers to be more likely to stump-up asking price as soon as they've secured a sale on their larger, more expensive property.

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I'm currently watching 3 properties all in South Yorkshire, all of which are typical first time buyer family homes - 2/3 bed terraces.. Strangely none of them have shifted since June. All 3 houses have been reduced in price, however.

All anecdotal of course. ;)

Edited by narco

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Have been watching the North/West Yorkshire border market closely for a while and it has been completely dead for 9 months or so. It seems that there is a standoff between buyers and sellers....asking prices are refusing to budge and nobody is willing to buy. Somethings got to give soon

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Guest Charlie The Tramp
This is in South Yorkshire, not central London.

Is it in a quite and peaceful area relatively free from crime and social problems ?

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Is it in a quite and peaceful area relatively free from crime and social problems ?

Does such an area exist in England anymore? If it does I'm willing to pay x6 salary to live there :D

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There are always a few numpties with cash out there. My boss is currently on the hunt with 100K cash and 200K mortgage in principle. He confidently and somewhat arrogantly assures me that the next rate move is down and this will reinvigorate the market.

Silly cunit. Im sitting back and watching :ph34r:

You will look back on this post and feel very foolish in a years time when prices are 10-15% higher than now.

Just like I did.

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Guest Charlie The Tramp
Does such an area exist in England anymore? If it does I'm willing to pay x6 salary to live there :D

I can think of many areas where peace and tranquility exists to a reasonable degree. Many escapees are grabbing their profits to settle in them and paying premium prices for the privilege. ;)

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Purely anecdotal:

I'm in the process of selling a 3 bed semi due to bereavement in the family. First offer came in after only 5 days on the market, 5k under asking price. Was ready to accept when 3 subsequent offers came in ....all in cash.... :blink: ....the best being 2k over asking price. This is in South Yorkshire, not central London.

Not wanting to put a dampener on proceedings here but it seems that the HPI monster is not completely dead, yet.

A salutory reminder that many (most?) people STILL do not see what is coming - tho it has been higher profile lately it is not commonly accepted that HPI is now over - I still get laughed at at work for suggesting it. Most ordinary folk simply do not take an interest in these things until it is too late. If it is in a "nice area", low crime etc the perception will still be that it is a "good buy". Go for a buyer without a chain, even if the offer is slightly less, and ideally a cash buyer, as if the buyer hasn't yet had a firm guarantee of a mortgage they may yet pull out when they find mortgages are not so easy to come by of late....

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A salutory reminder that many (most?) people STILL do not see what is coming - tho it has been higher profile lately it is not commonly accepted that HPI is now over - I still get laughed at at work for suggesting it. Most ordinary folk simply do not take an interest in these things until it is too late. If it is in a "nice area", low crime etc the perception will still be that it is a "good buy". Go for a buyer without a chain, even if the offer is slightly less, and ideally a cash buyer, as if the buyer hasn't yet had a firm guarantee of a mortgage they may yet pull out when they find mortgages are not so easy to come by of late....

The thing is, you are wrong so far, and your colleagues are right. Feel free to gloat all you like if a crash happens, but until then you are full of crap.

There is NOTHING inevitable about a crash. I would say the odds of a crash are no more than 15-20%.

Edited by Smell the Fear

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The thing is, you are wrong so far, and your colleagues are right. Feel free to gloat all you like if a crash happens, but until then you are full of crap.

There is NOTHING inevitable about a crash. I would say the odds of a crash are no more than 15-20%.

Over what period? Without a time constraint your "%" is a particularly pointless post.

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The thing is, you are wrong so far, and your colleagues are right. Feel free to gloat all you like if a crash happens, but until then you are full of crap.

There is NOTHING inevitable about a crash. I would say the odds of a crash are no more than 15-20%.

Firstly I am not gloating as I will be financially worse off if a crash happens -for two reasons - 1. I wrongly predicted the top of the housing market two years ago and STR too soon (because like most I was ignorant of the outrageous corruption in the housing market), and 2. because I am due to inherit a property within the next couple of years and it would be far better for me if prices stayed bouyant.

But I do believe firmly that there will be a correction in house prices and it is already happening. Most people just don't see it yet. I don't know how you calculate your odds of 15-20%. I disagree - there is EVERYTHING inevitable about a crash - and it will, and is happening, now.

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You will look back on this post and feel very foolish in a years time when prices are 10-15% higher than now.

Just like I did.

We will see. It doesn't effect me either way with a very small mortgage and a house / location I like :rolleyes:

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Purely anecdotal:

I'm in the process of selling a 3 bed semi due to bereavement in the family. First offer came in after only 5 days on the market, 5k under asking price. Was ready to accept when 3 subsequent offers came in ....all in cash.... :blink: ....the best being 2k over asking price. This is in South Yorkshire, not central London.

Not wanting to put a dampener on proceedings here but it seems that the HPI monster is not completely dead, yet.

If it's in Sheffield it will be due to the EA's fine tradition of underpricing and letting the vendor cope with the viewings.

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There are always a few numpties with cash out there. My boss is currently on the hunt with 100K cash and 200K mortgage in principle. He confidently and somewhat arrogantly assures me that the next rate move is down and this will reinvigorate the market.

Silly cunit. Im sitting back and watching :ph34r:

Presumably your boss is Satan, Lord of the (un)dead and thus can take a long term view on his earthly investments? :lol:

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I can think of many areas where peace and tranquility exists to a reasonable degree. Many escapees are grabbing their profits to settle in them and paying premium prices for the privilege. ;)

I agree, and I would go as far as saying that there will be a greater demand for areas like this, smaller properties in quieter, safer places, on a larger plot with nice views. There are many people downsizing at the moment and they are looking for a cosy, economical home with a bit of peace and tranquility. ;)

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looks like you underpriced this- even in a falling market you should aim to get as much as you can- more important in a crash really is Location, location and Location, rather than anything goes

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