Property Offers in a falling market.
08-03-2009, 02:00 PM
#41
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righto, looked at a place today that he missus and i both liked
its up fo 160k at the mo, but came on the market in october at 175k, so he has already dropped it 15k
now, he has turned down 2 in his words 'silly' offers, but wouldnt say what they were
we will more than likely make an offer in the next day or 2, missus is going back tomoz with her mum for a 2nd look.
now we were thinking of going in for an offer of 150k
what do you reckon?
hes split with his missus and house is to big for him on his own. so not sur how desperate he is to sell.
its up fo 160k at the mo, but came on the market in october at 175k, so he has already dropped it 15k
now, he has turned down 2 in his words 'silly' offers, but wouldnt say what they were
we will more than likely make an offer in the next day or 2, missus is going back tomoz with her mum for a 2nd look.
now we were thinking of going in for an offer of 150k
what do you reckon?
hes split with his missus and house is to big for him on his own. so not sur how desperate he is to sell.
If this guy has split up from his splitarse then im sure he would be only to pleased to offload.
Good luck!
08-03-2009, 03:54 PM
#43
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Id say offer as low as you dare, worst theycan say is no, then just put an increased offer in. But if you like the prperty dont hang about my mate was bidding on a property he really liked but was being cocky saying "in the current climate the balls in my court etc" then someone came in and got it for just 5k more than he had bid but he was willing to pay more than that for the house as he liked it.
He's now ended up paying the same £ for a house when he really wanted the 1st one.
He's now ended up paying the same £ for a house when he really wanted the 1st one.
09-03-2009, 10:45 PM
#45
right, went in at 148k which he turned down, saying he wants 155k, so missus said we would pay 152500 max. and strangely enough the estate agent couldnt get hold of him to ask so left a message.
if he doesnt go for that, then well, dunno what we will do. seen another house thats up for 175k in a better area but they have declined 165k already, and that is the max we can offer but are procedable...
but that house needs lots of decorating and doesnt have a propper bathroom, so will need a fair bit spending on it...
what to do
if he doesnt go for that, then well, dunno what we will do. seen another house thats up for 175k in a better area but they have declined 165k already, and that is the max we can offer but are procedable...
but that house needs lots of decorating and doesnt have a propper bathroom, so will need a fair bit spending on it...
what to do
10-03-2009, 08:36 AM
#46
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right, went in at 148k which he turned down, saying he wants 155k, so missus said we would pay 152500 max. and strangely enough the estate agent couldnt get hold of him to ask so left a message.
if he doesnt go for that, then well, dunno what we will do. seen another house thats up for 175k in a better area but they have declined 165k already, and that is the max we can offer but are procedable...
but that house needs lots of decorating and doesnt have a propper bathroom, so will need a fair bit spending on it...
what to do
if he doesnt go for that, then well, dunno what we will do. seen another house thats up for 175k in a better area but they have declined 165k already, and that is the max we can offer but are procedable...
but that house needs lots of decorating and doesnt have a propper bathroom, so will need a fair bit spending on it...
what to do
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
10-03-2009, 09:05 AM
#48
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Wake up and smell the coffee!
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
Estate agents are like goldfish. Small brain and they never learn. Even in the current climate, this one is still clearly lying his head off.
10-03-2009, 09:21 AM
#49
Wake up and smell the coffee!
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
I can understand why he wants his family to just smoothly move from one home to the next not via some rented property or whatever.
10-03-2009, 10:34 AM
#50
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10-03-2009, 07:25 PM
#51
and when did i say buy now, merely pointing out that the market MAY be stabilising, but then again it MIGHT not be, noone really knows for certain, so what fucking difference does it make? YOU certainly DO NOT know 100% for certain what the market is doing do you?
so wind your neck in!
so wind your neck in!
10-03-2009, 08:03 PM
#52
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Housing market is fun at the mo.
As most will know I have been looking for 18months or so. I cant afford to fuck it up or get it wrong so am very careful.. I am also single with no one else involved and in no rush so can be choosey as fuck and looking for a bargain if I am honest.
For peoples info, I've just done a report on house prices, mortgages, average house prices and the links between them all and the links to interest rates.
Regardless of year there is a clear coralation that shows in Nov, Dec prices stagnate or fall and Jan they raise again, the effect is also mirrored in home loans approved. The other 9 months of the year show the general trends for that year. In Feburary 2009 after the 'traditional' rise, house prices fell - as reported by Halifax at the end of the month. If I remember correctly the fall was 1.8%
Anyways.... house prices, still plenty of stubborn people out there who think their houses are worth more than they are in a decreasing and difficult market.
Estate agents- quite amusingly they are STILL not interested in helping buyers and I have lost count of the ones that lie through their teeth and quite clearly too - I have actually given up with most and ignore all most anything any of them say, in 18months I have found 1 person who is prepared to be quite helpfull.
Case study 1- House 1 door from my moms... up for sale for 12mths at £140k- deceased estate good order but requires modernisation. Recently houses on the 3 similar close roads in similar condition have dropped to £125k- historically this road is 10% lower than the road with £125k house on. I started at £90k and am currently at £110k. The estate agent says if he was valuing it now he would advise £120k and take £115k. In Oct 2007 the same house would have been £165k. Home owner has told my guy that they want £130k.
Case Study 2- Derelict house near me, same sort of house as above. Up for £125, reduced from £135. I said I'd be at £90k and any higher I'd need to get some builders in to check it over- Estate agent agreed, highest current offer is £105k, no shortage of buyers for it but the owner (deceased estate) is adamant he wants the £125k. Currently on the same street Houses are £140k in PERFECT condition and it wants FULL renovation. Windows, Kitchen, Bathroom, Garage re building and there are signs of structual issues.
Case Study 3- Again deceased estate but this time in a much nicer area- house was £190k 12mths ago and eventually 4 weeks ago at £155k. My mate offered £125k and they accepted at £135k and he's about to exchange.
In my opinion where the estate agent has managed the expectations of the seller and the house is priced realistically for the current market the houses seem to sell.
Where the house is priced for 12 months ago it is less realistic but the owners dont seem to be getting the point.
Estate agents in general are full of shit- one even printed in a local paper a piece that suggested (if you read between the lines) that they would ignore all "silly" offers for houses they have for sale.
Jake
As most will know I have been looking for 18months or so. I cant afford to fuck it up or get it wrong so am very careful.. I am also single with no one else involved and in no rush so can be choosey as fuck and looking for a bargain if I am honest.
For peoples info, I've just done a report on house prices, mortgages, average house prices and the links between them all and the links to interest rates.
Regardless of year there is a clear coralation that shows in Nov, Dec prices stagnate or fall and Jan they raise again, the effect is also mirrored in home loans approved. The other 9 months of the year show the general trends for that year. In Feburary 2009 after the 'traditional' rise, house prices fell - as reported by Halifax at the end of the month. If I remember correctly the fall was 1.8%
Anyways.... house prices, still plenty of stubborn people out there who think their houses are worth more than they are in a decreasing and difficult market.
Estate agents- quite amusingly they are STILL not interested in helping buyers and I have lost count of the ones that lie through their teeth and quite clearly too - I have actually given up with most and ignore all most anything any of them say, in 18months I have found 1 person who is prepared to be quite helpfull.
Case study 1- House 1 door from my moms... up for sale for 12mths at £140k- deceased estate good order but requires modernisation. Recently houses on the 3 similar close roads in similar condition have dropped to £125k- historically this road is 10% lower than the road with £125k house on. I started at £90k and am currently at £110k. The estate agent says if he was valuing it now he would advise £120k and take £115k. In Oct 2007 the same house would have been £165k. Home owner has told my guy that they want £130k.
Case Study 2- Derelict house near me, same sort of house as above. Up for £125, reduced from £135. I said I'd be at £90k and any higher I'd need to get some builders in to check it over- Estate agent agreed, highest current offer is £105k, no shortage of buyers for it but the owner (deceased estate) is adamant he wants the £125k. Currently on the same street Houses are £140k in PERFECT condition and it wants FULL renovation. Windows, Kitchen, Bathroom, Garage re building and there are signs of structual issues.
Case Study 3- Again deceased estate but this time in a much nicer area- house was £190k 12mths ago and eventually 4 weeks ago at £155k. My mate offered £125k and they accepted at £135k and he's about to exchange.
In my opinion where the estate agent has managed the expectations of the seller and the house is priced realistically for the current market the houses seem to sell.
Where the house is priced for 12 months ago it is less realistic but the owners dont seem to be getting the point.
Estate agents in general are full of shit- one even printed in a local paper a piece that suggested (if you read between the lines) that they would ignore all "silly" offers for houses they have for sale.
Jake
10-03-2009, 09:53 PM
#53
well, 152500 was also declined. he wants the 155k and thats it.
so on principal we arnt going any higher
the other house we like is up for 175k, they declined 165k a month ago. the guy who lived there has passed away, but the house needs fully updating, the bathroom is down stairs and only has a shower, but there is space for a bath.
all in all this is more a family home, where we could see ourselves staying a long time, its about 2 mins from the missus school, or a 5/10 min walk and in years to come as its in a better location, will be worth a lot more than the other house.
but thing is we need to get an additional 4k for the deposit...
thats if they accept 165k for it now lol
so on principal we arnt going any higher
the other house we like is up for 175k, they declined 165k a month ago. the guy who lived there has passed away, but the house needs fully updating, the bathroom is down stairs and only has a shower, but there is space for a bath.
all in all this is more a family home, where we could see ourselves staying a long time, its about 2 mins from the missus school, or a 5/10 min walk and in years to come as its in a better location, will be worth a lot more than the other house.
but thing is we need to get an additional 4k for the deposit...
thats if they accept 165k for it now lol
10-03-2009, 10:03 PM
#54
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and when did i say buy now, merely pointing out that the market MAY be stabilising, but then again it MIGHT not be, noone really knows for certain, so what fucking difference does it make? YOU certainly DO NOT know 100% for certain what the market is doing do you?
so wind your neck in!
so wind your neck in!
yes, know one knows for sure what will happen but it does make abig difference to alot of people whether they buy now or later. just dont want to see the lad throw his money away as im sure that prices are still going to drop until early next year from what i hear talking to people in the property game.
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10-03-2009, 11:04 PM
#55
it just seemed a random statement to make. the rise in feb you mentioned was compiled from the rightmove price index which is made up of 90% of newly marketed properties and doesnt bear any relavance on the market as a whole. if you looked a the nationwide or halifax price index for feb you would see they said that prices droped by 2.3% and 1.8% for feb.
yes, know one knows for sure what will happen but it does make abig difference to alot of people whether they buy now or later. just dont want to see the lad throw his money away as im sure that prices are still going to drop until early next year from what i hear talking to people in the property game.
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the neck buckle made me chuckle!
13-03-2009, 08:09 PM
#56
right then, this house that was up for 175k, looked at it last night and this morning offered 163k, they had already rejected 165k from someone else, and rejected our 163k saying they wanted 170k.
we offered 167k as that was our absolute max, and they accepted it!
so thats our little story done lol
well, i say done, the whole house needs decorating lol
we offered 167k as that was our absolute max, and they accepted it!
so thats our little story done lol
well, i say done, the whole house needs decorating lol
13-03-2009, 10:34 PM
#59
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HOw is buying a house for 167k a result? Thats extortionate and exactly why we're all in this shitty mess we're in. Because people were paying silly money for houses.....
I mean, 3x your salary was the rule. You must earn 56k a year then I can't get a FTB mortgage at the moment becuase I don't have a 25% deposit.... How come everyone else can borrow shitloads for a 3 bed semi
I mean, 3x your salary was the rule. You must earn 56k a year then
I can't get a FTB mortgage at the moment becuase I don't have a 25% deposit.... How come everyone else can borrow shitloads for a 3 bed semi
13-03-2009, 10:50 PM
#60
im not on my own you goon, the missus takes home the same basic salery as me, and shes part time
i do lots of overtime too lol
we had 17k from the sale of our house, and another 9k odd in savings.
also going to borrow 5k max off my parents so we can stump up the 15% deposit (as we have solicters/estate agents fees etc to cover)
and in a few years time, the house will be worth a fair bit more
but why did we buy it?
as its the biggest, and best house we have looked at, in the best area and it means the missus can walk to work, thus saving money on car use etc
we both liked it as soon as we walked in, and you just know when its right.
i do lots of overtime too lol
we had 17k from the sale of our house, and another 9k odd in savings.
also going to borrow 5k max off my parents so we can stump up the 15% deposit (as we have solicters/estate agents fees etc to cover)
and in a few years time, the house will be worth a fair bit more
but why did we buy it?
as its the biggest, and best house we have looked at, in the best area and it means the missus can walk to work, thus saving money on car use etc
we both liked it as soon as we walked in, and you just know when its right.
14-03-2009, 04:30 AM
#62
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Wake up and smell the coffee!
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
"UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported."
you should wait till all these fools realise that their house aint worth shit, then make your offers. or you could buy now and throw your money away
Sites that have be closed for months are up and running again. Thats the biggest indicator of how the market is. The banks were refusing to fund many developments but since Feb have been keen to fund new builds.
The best investment at the present time is building land as it bottomed out at Xmas and has just started to creep up (4.5% rise since Jan). Building materials and labour are at an all time low due to all the financial negativity which will not be the case by midsummer. The knockon effect will be house prices generally will start rising again sooner than you think.
15-03-2009, 10:36 AM
#64
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Now IS the time to buy!
Sites that have be closed for months are up and running again. Thats the biggest indicator of how the market is. The banks were refusing to fund many developments but since Feb have been keen to fund new builds.
The best investment at the present time is building land as it bottomed out at Xmas and has just started to creep up (4.5% rise since Jan). Building materials and labour are at an all time low due to all the financial negativity which will not be the case by midsummer. The knockon effect will be house prices generally will start rising again sooner than you think.
Sites that have be closed for months are up and running again. Thats the biggest indicator of how the market is. The banks were refusing to fund many developments but since Feb have been keen to fund new builds.
The best investment at the present time is building land as it bottomed out at Xmas and has just started to creep up (4.5% rise since Jan). Building materials and labour are at an all time low due to all the financial negativity which will not be the case by midsummer. The knockon effect will be house prices generally will start rising again sooner than you think.
I would be saying the same if I build and sold houses too.
Good to see some optomism in the current climate though, some of these facts lead me to believe otherwise.
Government printing money for the banks,
Unimployment rising massivly,
House prices dropping month on month,
Businesses screaming out for the banks to lend to keep jobs and stay afloat
Out of interest where did you hear about the banks being keen to fund new builds and get the 4.5% rise since jan from
Will have to wait and see what happens
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