STRAPR08 Posted July 26, 2008 Share Posted July 26, 2008 Currently the market appears to be in gridlock, denial still appears to be rampant amongst home owners. We were just wondering whether this situation will change once year on year falls from peak are published, rather than the current "massaged" figures that are currently appearing at the moment. STR APR 08 Quote Link to comment Share on other sites More sharing options...
deadman Posted July 26, 2008 Share Posted July 26, 2008 Well of course it will. as per Quote Link to comment Share on other sites More sharing options...
Laura Posted July 26, 2008 Share Posted July 26, 2008 Currently the market appears to be in gridlock, denial still appears to be rampant amongst home owners. The opinions of EAs & vendors are irrelevant in these times. Public auctions are the best guide to any value a property may, or may not, have. Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted July 26, 2008 Share Posted July 26, 2008 The market can currently be likened to a woman trying to decide what to wear to a big party- forget about it- go with your own gut instincts- be a survivor. There is NO logic or reason out there, I don't actually think it's denial, it's something else... stupidity I think Quote Link to comment Share on other sites More sharing options...
Nomadd Posted July 26, 2008 Share Posted July 26, 2008 Currently the market appears to be in gridlock, denial still appears to be rampant amongst home owners.We were just wondering whether this situation will change once year on year falls from peak are published, rather than the current "massaged" figures that are currently appearing at the moment. STR APR 08 I think the "kicker" is really EAs not doing enough business to survive. At the moment, most of them are still in denial, so that's why we still see the crazy valuations, followed by "lop £5k off the price" after it's been on the market for 6-12 months. They just aren't taking a tough enough stance with sellers. I think the looming mass loss of jobs will focus both their minds and mouths. Still, don't see the above for at least another year of so. Nomadd Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted July 26, 2008 Share Posted July 26, 2008 just sit back and watch it all unfold... Quote Link to comment Share on other sites More sharing options...
abharrisson Posted July 26, 2008 Share Posted July 26, 2008 I think the "kicker" is really EAs not doing enough business to survive. At the moment, most of them are still in denial, so that's why we still see the crazy valuations, followed by "lop £5k off the price" after it's been on the market for 6-12 months. They just aren't taking a tough enough stance with sellers. I think the looming mass loss of jobs will focus both their minds and mouths.Still, don't see the above for at least another year of so. Nomadd Its a complicated situation... I agree that in most cases prices appear to be much too high... but then again I suspect the agents are caught in a quandry as there really isn't the volume of sales around for the market to function properly.. I suspect the only things really selling are "estate, divorce and forced" and that FTB's, BTL and home movers are effectively completely out of the market..... in that environment if someone wants to say buy and sell and move its pretty imposible at the moment.. somethings got to change, but I am not convinced its going to change before September and even then it may well get further delayed into next spring..... as one poster said all we can do is sit back and watch it all unfold Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted July 26, 2008 Share Posted July 26, 2008 Currently the market appears to be in gridlock, denial still appears to be rampant amongst home owners.We were just wondering whether this situation will change once year on year falls from peak are published, rather than the current "massaged" figures that are currently appearing at the moment. STR APR 08 wo is "WE" and why have you tagged your username to your question? Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted July 26, 2008 Share Posted July 26, 2008 I think the "kicker" is really EAs not doing enough business to survive. At the moment, most of them are still in denial, so that's why we still see the crazy valuations, followed by "lop £5k off the price" after it's been on the market for 6-12 months. They just aren't taking a tough enough stance with sellers. I think the looming mass loss of jobs will focus both their minds and mouths.Still, don't see the above for at least another year of so. Nomadd There are a couple of EAs on the anecdotals forum telling it like it is, but I think don't really want to come here because of the general level of abuse and vitriol. Their view is that there are quite a few instructions, but that the EAs who value realistically don't get them, they go to the agents who say what the vendor wants to hear: Yes of course we can get you last year's price. Of course they don't sell because there are plenty better houses which have been on the market longer and are now cheaper, but which also aren't selling, but the realistic EAs also have to play the same game in the hope of at least getting the instruction and perhaps being able to talk the vendor down at a later stage. They obviously need completions to survive, but the way the market is operating, that takes a lot longer and it is only the trickle of outstanding properties (that will go for more money) and the big reductions that seem to sell (round our way). Add to that the problems completing a chain: it only takes one seller out of 5 in denial to scupper the whole thing. Tough times and I feel a little sorry for the genuine professional agents. Quote Link to comment Share on other sites More sharing options...
Jimmyb Posted July 26, 2008 Share Posted July 26, 2008 As mentioned by the bloke who sold Foxtons last year we have to wait untill the blood has stopped running and has dried before people accept that they are worth 30-50% less than they were last year. The last crash taught us that this will take years to play out, patience, time is on our side, keep saving and don't fret. Quote Link to comment Share on other sites More sharing options...
STRAPR08 Posted July 26, 2008 Author Share Posted July 26, 2008 wo is "WE" and why have you tagged your username to your question? "We" is the wife and I, username was tagged to question more as a signature, obviously through lack of experience. Quote Link to comment Share on other sites More sharing options...
grey shark Posted July 26, 2008 Share Posted July 26, 2008 Currently the market appears to be in gridlock, denial still appears to be rampant amongst home owners. Almost a year since Northern Rock collapsed and still the denial drags on , but bit by bit it's breaking up , just so f/ing painfully slow .... Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted July 26, 2008 Share Posted July 26, 2008 On the contrary, my Property Bee searches have indicated that Foxton's are slashing asking prices in order to get stuff shifted! 29 June 2008 * Price changed: from '£320,000' to '£290,000' [Found by jbevan] 30 May 2008 * Price changed: from '£340,000' to '£320,000' [Found by 2112] 30 March 2008 * Initial entry found. [Found by jbevan] http://www.rightmove.co.uk/viewdetails-203...=4&tr_t=buy Quote Link to comment Share on other sites More sharing options...
Laura Posted July 26, 2008 Share Posted July 26, 2008 Almost a year since Northern Rock collapsed and still the denial drags on , but bit by bit it's breaking up , just so f/ing painfully slow .... Why on earth are you expecting anything else?? The property 'owner' loves 'up', hates 'down'. Distressed sales are the only reality for quite a long while; all else is folly for a buyer. Quote Link to comment Share on other sites More sharing options...
winkie Posted July 26, 2008 Share Posted July 26, 2008 On the contrary, my Property Bee searches have indicated that Foxton's are slashing asking prices in order to get stuff shifted! No drop no shift... stick or twist Quote Link to comment Share on other sites More sharing options...
STRAPR08 Posted July 26, 2008 Author Share Posted July 26, 2008 Also the sentiment published by different tabloids is frequently very different, at work we have a varying range of tastes with regard to the daily editorial. I try to have a quick look through each and have noticed how ill informed the majority of the most popular rags are namely the sun, mirror and star this is assuming you can call them a newspaper. Quote Link to comment Share on other sites More sharing options...
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