How far will house prices fall [volume 4]
Discussion
loafer123 said:
Matt p said:
At the moment. Who knows what will happen in the near future.
No indication this will happen to leasehold at all in the near or far future.There is no real reason for a leasehold house other than a means of extracting extra profit from desperate buyers.
I'm glad to see the government clamping down on it.
hyphen said:
So anyone posting an 'Are you thinking of selling" letter through the door of the Kingston murder house?
It's a nice area, bar the odd honour killing and possible haunted ghost. Could get a bargain.
I'm sure any reputable agent would have put a freeze on marketing literature.It's a nice area, bar the odd honour killing and possible haunted ghost. Could get a bargain.
:sharetaxi:
fido said:
hyphen said:
So anyone posting an 'Are you thinking of selling" letter through the door of the Kingston murder house?
It's a nice area, bar the odd honour killing and possible haunted ghost. Could get a bargain.
I'm sure any reputable agent would have put a freeze on marketing literature.It's a nice area, bar the odd honour killing and possible haunted ghost. Could get a bargain.
:sharetaxi:
- FIDO has been banned from the 'How far will house prices fall [volume 4] thread'
This is only anecdotal from friends and our own experience, but at least in our limited circle the London market seems to be full of flakes, dilettantes and the kind of people who'll let a £700k sale (on a house they bought for £300k) fall through for the sake of a cheap indemnity.
We're currently facing this problem with a seller. Tired, unfashionable house that's been on the market for ages, but we don't mind the style, there's a decent bit of potential and unlike most buyers at that level we don't have an existing family or incoming sprogs forcing us to buy something that's in turnkey condition.
The seller's spent the last three months farting around putting in a solitary joke offer on something once every few weeks, and acting surprised when it gets refused. I don't think they've looked at a single place that's actually in their budget, and of course nary a word about renting for the interim or moving in with relatives while they go fantasy shopping. Online estate agent too, so they have no real interest in chasing since they've already got their upfront fee.
Plenty of friends have ended up caught in long chains full of arguments about building regs and buyers getting fed up and walking away, but it's the first time I've heard of someone not even trying to create the chain in the first place. Currently I'd be very surprised if we didn't end up looking round something else once the summer lull is over and offering on that instead. (Adding yet another "buyer pulls out" statistic to the London market in the process).
We're currently facing this problem with a seller. Tired, unfashionable house that's been on the market for ages, but we don't mind the style, there's a decent bit of potential and unlike most buyers at that level we don't have an existing family or incoming sprogs forcing us to buy something that's in turnkey condition.
The seller's spent the last three months farting around putting in a solitary joke offer on something once every few weeks, and acting surprised when it gets refused. I don't think they've looked at a single place that's actually in their budget, and of course nary a word about renting for the interim or moving in with relatives while they go fantasy shopping. Online estate agent too, so they have no real interest in chasing since they've already got their upfront fee.
Plenty of friends have ended up caught in long chains full of arguments about building regs and buyers getting fed up and walking away, but it's the first time I've heard of someone not even trying to create the chain in the first place. Currently I'd be very surprised if we didn't end up looking round something else once the summer lull is over and offering on that instead. (Adding yet another "buyer pulls out" statistic to the London market in the process).
Timberwolf said:
Online estate agent too, so they have no real interest in chasing since they've already got their upfront fee.
I've heard people say they won't even look at houses if they're up with an online agent.Timberwolf said:
Plenty of friends have ended up caught in long chains full of arguments about building regs and buyers getting fed up and walking away, but it's the first time I've heard of someone not even trying to create the chain in the first place.
Is that anything new? Years ago when we last moved we had great concern that a a lot of people who had their houses on the market didn't really want to move.z4RRSchris said:
i just had someone try and gazump the day before exchange with an 11% over asking offer.
haven't seen that in a while.
Last gasp of a volatile market.haven't seen that in a while.
I recently got offered 5 new houses in a block sale in West London at 20%+ below recent market evidence, but I still wouldn't touch them with a 10ft barge pole.
The London market will be in for considerable pain in the next 18 months.
Sheepshanks said:
I've heard people say they won't even look at houses if they're up with an online agent.
Yes - when I put my place up I went with a local high-street agent; mostly because I can't be bothered showing people round when I could pay someone to do it, but also partly because I thought if I went with any of the online players I may as well just stick a big sign outside my house saying, "NOT SERIOUS".As it happens the local place were well worth the money. Their photographer was fantastic, we had in excess of 20 viewings without me having to put in any more effort than it takes to answer a phone call or e-mail with, "yeah, that's fine" and within a fortnight I had five proceedable offers starting at £18k above what I'd expected to get and going up from there.
stuckmojo said:
Estate Agents Foxtons and Countrywide are getting thrashed.
Surely to do with their business model too, but they're normally a bellweather of activity.
They aren't receiving much in the way of sympathy on the Guardian comment section Surely to do with their business model too, but they're normally a bellweather of activity.
https://www.theguardian.com/business/2017/jul/27/f...
FN2TypeR said:
They aren't receiving much in the way of sympathy on the Guardian comment section
https://www.theguardian.com/business/2017/jul/27/f...
https://www.theguardian.com/business/2017/jul/27/f...
Foxtons work well as a sellers agent as they have no morals, but only if you have them on an incentive fee to keep their interests aligned with yours.
anonymous said:
[redacted]
To be fair, there weren't online agents then.Perhaps it's just the British reserve thing of not wanting to appear desperate but one "new-on-the-market" house had photos taken in a different season. The 2 & 4yr old kids had objected to moving initially, apparently. But most others seemed to have no onward plan. We eventually bought a house that was already empty.
loafer123 said:
FN2TypeR said:
They aren't receiving much in the way of sympathy on the Guardian comment section
https://www.theguardian.com/business/2017/jul/27/f...
https://www.theguardian.com/business/2017/jul/27/f...
Foxtons work well as a sellers agent as they have no morals, but only if you have them on an incentive fee to keep their interests aligned with yours.
People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
FN2TypeR said:
I don't live in the area so I haven't had any dealings with them (seemingly thankfully) but that comment section is brilliant - not a single ounce of sympathy, this comment in particular made me chuckle:
People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
Good one People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
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