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Michael

Chasing The Market Dwon

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My mum's next door neighbour's house sale has just fallen through and the silly bitch won't cut her asking price even though the EA says she must do to get a sale.....#

She's totally blinkered to the fact that her house is dropping £5000 a month in value saying....like many do round here..

''Harrogate and Knaresborough are in the Golden Triangle''

(area within Leeds/Harrogate/York triangle)

as if only cacky areas suffer price falls....

The silly sausage is going to end up chasing the market down!!!

cutting her but always too late to get a sale!!!

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Guest sillybear2

More like being stuck in the middle of a golden shower.

I suppose this is why transactions are through the floor and will get worse, everyone is in denial and the money simply isn't out there to pay bubble prices, no more 100% low IR liar loans.

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My mum's next door neighbour's house sale has just fallen through and the silly bitch won't cut her asking price even though the EA says she must do to get a sale.....#

She's totally blinkered to the fact that her house is dropping £5000 a month in value saying....like many do round here..

''Harrogate and Knaresborough are in the Golden Triangle''

(area within Leeds/Harrogate/York triangle)

as if only cacky areas suffer price falls....

The silly sausage is going to end up chasing the market down!!!

cutting her but always too late to get a sale!!!

Not flaming you but in a way, she's doing your Mum a favour :unsure:

Lets say the neighbour sells with a cut of -20%. That will be the "market" rate in future.

If your mum wanted to sell her house now, she could undercut what others consider the "market" rate and get a sale.

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My other half's parents are the same, they insist that their house is worth 260k and they are not going any lower, despite one viewing in 8 months. It doesn't help that they haven't as yet met an estate agent who has left cuckoo land and entered reality. At the moment i am currently finding it very difficult not to say, "i told you so". Especially when a year ago i deemed as some sort of nutter for saying house prices are going to crash. I think the best thing to do in these situations is just keep out of it.

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Is it wrong to feel happy about my step-sister's husbands BTL business?

They have spent the last few years building up a portfolio and doing up places. He's actually a very skilled builder. Always made me feel inadequate that they were raking it in. Now they are worried and have to tighten their belts.

Hahahaha! It's terrible, I hate myself.

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Guest sillybear2
My other half's parents are the same, they insist that their house is worth 260k and they are not going any lower

They're no doubt aware of the stamp duty thresholds? If so they're total muppets to assume somebody is going to stump up an extra £5k to the government.

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My other half's parents are the same, they insist that their house is worth 260k and they are not going any lower, despite one viewing in 8 months. It doesn't help that they haven't as yet met an estate agent who has left cuckoo land and entered reality. At the moment i am currently finding it very difficult no

Not to say, "i told you so". Especially when a year ago i deemed as some sort of nutter for saying house prices are going to crash. I think the best thing to do in these situations is just keep out of it.

No put the boot in and offer them 150k. :lol::P

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I guess this situation is all too common at this time. When people do wake up, then I think the price falls will accelerate faster...

She will be followed by the Desperate To Sell (DTS) the ones paying their mortgage by Credit Card, who will have to sell before reposession, so she will be competing with them. 1 bad sale of a similar property in her street or vicinity could drop the price by 30K to 50K overnight or even more . Valuations are also dropping in price by the day. The Sellers will have sleepless nights whilst Buyers can chill and watch the market drop and even trade their choice up at no extra cost soon .

Edited by joey

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My other half's parents are the same, they insist that their house is worth 260k and they are not going any lower, despite one viewing in 8 months. It doesn't help that they haven't as yet met an estate agent who has left cuckoo land and entered reality. At the moment i am currently finding it very difficult not to say, "i told you so". Especially when a year ago i deemed as some sort of nutter for saying house prices are going to crash. I think the best thing to do in these situations is just keep out of it.

My sympathies are with you g75f!! It is incredibly amusing how all these people seem to think that their properties are "worth" so much -- as if it is a RIGHT!!! I must say -- most people I know have known for a very long time know that I think the "market" has been totally insane -- I have said this for years -- simply qualifying this by telling it as it is - i.e. Ordinary, NORMAL, average earning people - let's say 25-35 yr olds -- COULD NOT AFFORD THE "PRICES" we have seen for at least the last 5 years....

THE ONLY WAY THEY COULD BUY WAS BY LYING about their income OR LYING TO THEMSELVES and taking out STUPID AND IRRESPONSIBLE MORTGAGE MULTIPLES...

AND IT WAS -- AND IS -- THAT SIMPLE!!!!

It takes anyone with a SOUND MIND roughly 10 seconds to understand that house "prices" have been - and STILL ARE -- TOTALLY INSANE -- SUICIDAL in fact...............

We've got a long way to go before many people just grow up and start to understand that houses are places to live -- AND THAT IS IT--- and they are SIMPLY RUINING THEIR LIVES IF THEY PAY MORE THAN 3 x SALARY FOR THEM!! THAT IS IT-- IT IS THAT SIMPLE!!!!!!!

Edited by eric pebble

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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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