Wednesday, October 15, 2008

A change in mainstream sentiment

Selling houses

Remember, home-owners have had more than 10 years of house-price rises, and psychologically it is difficult to accept that values are falling quite dramatically. Remind yourself that if it was possible for prices to rise 15 per cent in a year, which they did in years such as 2002-3 and 2006-7, it is equally possible for them to drop by that amount in 2007-8. Unfortunately, buyers are not interested in how much you paid for your home - nor how large your mortgage is - so wanting to make a profit or get out what you put in are no longer viable. For a long time we have been told in defence of soaraway values that the market sets the price. That applies equally to a recession as to a boom.

Posted by little professor @ 01:47 PM (584 views)
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3 thoughts on “A change in mainstream sentiment

  • Beam Me Up Gordo says:

    Great!!!

    The penny has finally fallen with the mainstream media.

    We are now at the begining of the begining of the HPC.

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  • People seem to have forgotten a basic principle of property in this country:

    A home is for life not just for Christmas

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  • I and my fiancee want to buy a house in Islington – 2 bed flats there are asking 450K – how much should realistically we pay. We know its a bad time to buy but we neither of us have a place to live

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