Is the bubble about to burst?
Discussion
The problem is that a lot of houses are put on the market at far far above what they will sell for, so the stories of massive price slashes do not tell us much. Talking to estate agents, they say that prices are pretty much firm, but that time to sell is up and there are few sellers and few buyers. People are sitting on their hands.
I think the same may be the case with classic Porsches. I expect a lot of people are waiting and seeing.
I think the same may be the case with classic Porsches. I expect a lot of people are waiting and seeing.
Sam All said:
Slickhillsy said:
Is the bubble 'ABOUT' to burst...?
Interesting that this thread started 7th August 2015 - clearly not is the answer!
Good point, have prices plateaued?Interesting that this thread started 7th August 2015 - clearly not is the answer!
So. Seeing as the age of this thread shows they are not 'about' to burst (and those holding on pulling a purchase trigger do so at your peril) lets cover the '10% drop in house prices nonsense...
http://www.standard.co.uk/news/uk/value-of-uk-home...
Next up - The Art Bubble. Should I buy the Gustav Klimt I've had my eye on and if so should I hang it in the toilet?
dom9 said:
Our friends have accepted an offer at 15% below the previous offer that fell through due to Brexit, to keep their chain alive in Zone 2, London.
However, we're also looking and although we have seen reductions, nothing appears to have hit 10% yet.
Can't say I've been following London, however Guildford prices on rightmove still seem to be going up. There is a Zoopla estimate tool and everything still appears to be on the up.However, we're also looking and although we have seen reductions, nothing appears to have hit 10% yet.
Pewley Way sold prices in Guildford - http://www.rightmove.co.uk/house-prices/GU1/Pewley...
Currently for sale - http://www.rightmove.co.uk/property-for-sale/prope...
Estate agents said when we moved 'you are competing against home owners from Clapham etc that have received valuations of twice their investment 4 years ago on a 2 bed flat and are now having families'
cowboyengineer said:
Digga said:
No smoking; just a healthy dose of mountain biking and real ale last night. Settles the nerves a treat.
Nil desperandum!
Bespoke German bike, so surely it's allowed in the thread.
Lovely nicolai. I have a ion 16 tooNil desperandum!
Bespoke German bike, so surely it's allowed in the thread.
It's the Ion 15 (the 29er). I had a Nicolai Helius Am before:
Sold to a mate and it's still going strong.
dom9 said:
Our friends have accepted an offer at 15% below the previous offer that fell through due to Brexit, to keep their chain alive in Zone 2, London.
However, we're also looking and although we have seen reductions, nothing appears to have hit 10% yet.
Oddly we have exact opposite - buyer about to exchange haggled on back of Brexit, so we went with second offer of more. Signed in a week. Only 10,000 more but ...However, we're also looking and although we have seen reductions, nothing appears to have hit 10% yet.
BobToc said:
Were they prepared to buy without a survey or did they have a pre-existing one? Love the idea of telling a reneging buyer to go f
k themselves.
It was quite satisfying k themselves.
They went without survey as no mortgage. Previous buyers had ran up quite a few bills doing surveys etc and tried to come back at original offer but I hated being shafted just as we were supposed to sign, so went with the others.Yeah, I was just posting a personal anecdote, really.
If anything, the fear some people have felt when buying (pulling out or negotiating) has also happened on the seller's side, in my friends' case.
Incidentally - 9snr lives in Guildford and also reckons they dropping round him (GU1).
However, I see no signs of a huge change and have not put in an 'silly offers' on the back of Brexit. Though we may hold off a while as my savings are in USD, which puts us in the strong position.
Anyway - back to cars!
If anything, the fear some people have felt when buying (pulling out or negotiating) has also happened on the seller's side, in my friends' case.
Incidentally - 9snr lives in Guildford and also reckons they dropping round him (GU1).
However, I see no signs of a huge change and have not put in an 'silly offers' on the back of Brexit. Though we may hold off a while as my savings are in USD, which puts us in the strong position.
Anyway - back to cars!
Wasn't this car advertised just around 50k almost a month ago? Advertised as "£43250 or near offer" now.
http://www.carandclassic.co.uk/car/C763124
http://www.carandclassic.co.uk/car/C763124
ooid said:
Wasn't this car advertised just around 50k almost a month ago? Advertised as "£43250 or near offer" now.
http://www.carandclassic.co.uk/car/C763124
Rightly or wrongly, I always read the phrase "readvertised due to time waster" as "warning: I may not be a reasonable or transparent negotiator".http://www.carandclassic.co.uk/car/C763124
Harris_I said:
Rightly or wrongly, I always read the phrase "readvertised due to time waster" as "warning: I may not be a reasonable or transparent negotiator".
Kind of a no-win situation isn't it? Clearly, since this is being raised, people who are looking for cars, or at the market, will notice these things.H
Another view, tyre kickers turn up to look at a car they cannot afford. I have been there chap, came to look at a £65k car with a offer of £45k.
Every buyer and sellers, has a story it's a funny world.
Also certain car models,very small market for a buyer and a seller you must really want a certain car.
Digga said:
Harris_I said:
Rightly or wrongly, I always read the phrase "readvertised due to time waster" as "warning: I may not be a reasonable or transparent negotiator".
Kind of a no-win situation isn't it? Clearly, since this is being raised, people who are looking for cars, or at the market, will notice these things.Every buyer and sellers, has a story it's a funny world.
Also certain car models,very small market for a buyer and a seller you must really want a certain car.
Harris_I said:
Rightly or wrongly, I always read the phrase "readvertised due to time waster" as "warning: I may not be a reasonable or transparent negotiator".
My experience of trying to sell a car recently is that only one actual person has viewed the car and he was a 25year old test pilot giggling like a little child on the test drive. So effectively, in over 6 months of the car being for sale, not a single potential buyer has come to see the car. So your presumption doesn't quite fit every case. There are a whole multitude of factors effecting the sale of a car but it does appear that the market has quietened off at present; just as I decide to sell 
SEE YA said:
Another view, tyre kickers turn up to look at a car they cannot afford. I have been there chap, came to look at a £65k car with a offer of £45k.
Not disputing there are dreamers out there, but that isn't really wasting significant time to require readvertising. That's just a chap turning up and wasting an hour which let's face it is one of the expected inconveniences of privately selling.When I read "RDTTW" that tells me this is a person I may struggle to agree a reasonable deal with or who may withhold crucial information until the day we complete. So why do people state it?
CarreraLightweightRacing said:
So your presumption doesn't quite fit every case.
100% agree. But it's human nature to build a stereotype of a counterparty based on key triggers. There's simply no upside in telling people RDDTW.I also believe there's a market price for everything. If you got one bite in 6 months, price in that specific market is the only reason.
Harris_I said:
CarreraLightweightRacing said:
So your presumption doesn't quite fit every case.
100% agree. But it's human nature to build a stereotype of a counterparty based on key triggers. There's simply no upside in telling people RDDTW.I also believe there's a market price for everything. If you got one bite in 6 months, price in that specific market is the only reason.
I have made a few mistakes though in not taking very good offers early on. With the car being for sale for some time now, it would appear that some may be thinking along the lines of what you previously mentioned. I now have the car for sale at around €20k less than offers I have already had, so it isn't even purely down to price. My car is advertised very competitively compared to others on the market...
Harris_I said:
ooid said:
Wasn't this car advertised just around 50k almost a month ago? Advertised as "£43250 or near offer" now.
http://www.carandclassic.co.uk/car/C763124
Rightly or wrongly, I always read the phrase "readvertised due to time waster" as "warning: I may not be a reasonable or transparent negotiator".http://www.carandclassic.co.uk/car/C763124
Clearly someone who's never done sales for a living! Lol
DELETED: Comment made by a member who's account has been deleted.
Exactly my point. This car was previously discussed in this topic over a month ago, whether its the right price or not with current conditions. (No doubt about the car, I think it's a great example). I think the prices are still adjusting for all 911s older than 10 years old. which makes me even more cautious as a potential buyer, not to make any instant decision since there are sharp falls like these in a month or so. 
(hi all -1st post but longtime lurker and regular poster on 911uk as 'badlands')
Agree, the seller of the arena red 993 has his head in the clouds in terms of prices! I bought my 993 privately a month or so ago, non-vario Iris Blue carrera coupe manual, marble grey/blue interuor w/ 111k miles on the clock, no air-con. Significant recent work on scuttle rust by Precision, almost new pads discs and tyres, hollow turbo twist 18" wheels, door check done, refreshed suspension a few years back, drove great...i know as i had 964 before then 993 cab before that. Price was aprox £33k.
The red one is varioram and I think has aircon. Thus I make it's selling price as around 36 to 37k max sold privately. So for the seller to think it's 'reduced to a quick sales)' at 43k is crazy talk.
As further reference points for the market, last month I sold my 964 C4 manual coupe with unoriginal paint (had been repainted green from original white paint) and 117k miles + recent £12k engine rebuild by rpm technik to a dealer for £29k...could have maybe got a few thousand more if wasnt in a rush. They just sold it for around £35k.
Prices are def levelling out or gradually dropping for the aircooled. Unless sellers get realistic & stop being greedy then their cars with languish in the classifieds forever. Thats coming from a seller & buyer
Agree, the seller of the arena red 993 has his head in the clouds in terms of prices! I bought my 993 privately a month or so ago, non-vario Iris Blue carrera coupe manual, marble grey/blue interuor w/ 111k miles on the clock, no air-con. Significant recent work on scuttle rust by Precision, almost new pads discs and tyres, hollow turbo twist 18" wheels, door check done, refreshed suspension a few years back, drove great...i know as i had 964 before then 993 cab before that. Price was aprox £33k.
The red one is varioram and I think has aircon. Thus I make it's selling price as around 36 to 37k max sold privately. So for the seller to think it's 'reduced to a quick sales)' at 43k is crazy talk.
As further reference points for the market, last month I sold my 964 C4 manual coupe with unoriginal paint (had been repainted green from original white paint) and 117k miles + recent £12k engine rebuild by rpm technik to a dealer for £29k...could have maybe got a few thousand more if wasnt in a rush. They just sold it for around £35k.
Prices are def levelling out or gradually dropping for the aircooled. Unless sellers get realistic & stop being greedy then their cars with languish in the classifieds forever. Thats coming from a seller & buyer
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