How far will house prices fall [volume 5]

[Sheepshanks]

z4RRSchris said:

too many people forget that the agent works for and is paid by the seller, treat them as the other side of the deal (which they are) and dont tell them anything that hurts your own position.

One of our potential buyers (who it turned out we knew) sent my wife a message complaining that the agent was trying to "control" things. Errrr...it was a probate sale and that's what we asked them to do.

I will say the agent did try and give everyone a chance, including extending the offer 'deadline' twice. The eventual buyer had offered asking early on, was cash, in rented (and on a dealine to get out) and said they wouldn't have a survey. Despite all that, the agent was still looking for other offers until we called a stop to it.

[soupdragon1]

A.J.M said:

Think the estate agents in the area I’m trying to buy in, have a side business in wedding pictures.

They certainly know how to make small rooms appear massive.

Viewed a house on Saturday, nice area, good garden, garage for the Land Rover, but tiny inside for 2 adults and 2 Labradors.

Another house has come up today, also in good area, I’ve walked past it many times, recently done up garden and some rooms.
Only £3,500 more than other house but 3 proper bedrooms instead of 2 bedrooms and a box room.

But no garage and highly debatable if I could get one built.

But nice to see the market is moving for good houses in budget.

You wouldn't be the 1st to pick up on this. Trickery or necessity?

I've seen some kitchens that you are like, if I removed the island, we could play 5 a side in that space! Then you see the dimensions and realise they've wide angled the pic

Funny enough, my new phone has a wide angle, and its brilliant in some situations.

Take these 2 examples. Its my living room - 11.5ft x 16ft plus bay window. Hard for me to be fooled into size but these 2 pics were taken from the same spot - 1 normal and 1 wide angle. Does the wide angle make it look bigger?

Normal


Wide


Now the wide angle is great for small spaces, so that you can get a better view. My downstairs loo area is tiny, so no space to back up and get a good pic. Which makes wide angle beneficial for the buyer, as they can see more.





Good example of how it can be useful.

But when EAs use it for all the shots on a house listing- is it just them being lazy, stupid or just downright deceitful?

[TameRacingDriver]

Slightly off topic but it's the same trick mainstream media use to show people crowding together in small places, only in reverse (they use zoom lenses to take pictures from afar that make people appear to be very close together).

[MX6]

soupdragon1 said:

You wouldn't be the 1st to pick up on this. Trickery or necessity?

I've seen some kitchens that you are like, if I removed the island, we could play 5 a side in that space! Then you see the dimensions and realise they've wide angled the pic

Funny enough, my new phone has a wide angle, and its brilliant in some situations.

Take these 2 examples. Its my living room - 11.5ft x 16ft plus bay window. Hard for me to be fooled into size but these 2 pics were taken from the same spot - 1 normal and 1 wide angle. Does the wide angle make it look bigger?

Normal


Wide


Now the wide angle is great for small spaces, so that you can get a better view. My downstairs loo area is tiny, so no space to back up and get a good pic. Which makes wide angle beneficial for the buyer, as they can see more.





Good example of how it can be useful.

But when EAs use it for all the shots on a house listing- is it just them being lazy, stupid or just downright deceitful?

To be honest I quite like the wide angle/fish eye lens, as can be seens in your pic's, that type of image provides a views of more of the room in one shot. You just have to mentally account for the distortion to the apparent size. I will always compare against the dimensions and floor plan area, it annoys me when some agents are economical with that information.

[anonymous-user]

Zoopla says not by much

https://www.hometrack.com/uk/insight/uk-house-pric...

[Fusion777]

Wouldn’t listen to any organisation involved in or linked to the industry.

[NickCQ]

Even by my low expectations, that 'analysis' from Zoopla is weak!

[Ari]

Coronavirus: Pent-up demand 'leading to quicker home sales'

https://www.bbc.co.uk/news/business-53919558

[NickCQ]

My (very) anecdotal sense as a keen market watcher in my area (London W6) is that sellers have now managed to catch up with buyers and the initial feeding frenzy has subsided a bit. Certainly in the last two weeks or so a lot of 'high quality' stuff has popped up on Rightmove and hasn't gone SSTC, as you might have expected in July.

[Leicester Loyal]

NickCQ said:

My (very) anecdotal sense as a keen market watcher in my area (London W6) is that sellers have now managed to catch up with buyers and the initial feeding frenzy has subsided a bit. Certainly in the last two weeks or so a lot of 'high quality' stuff has popped up on Rightmove and hasn't gone SSTC, as you might have expected in July.

Yeah I agree with this, stuff seems to be staying on the market now for a bit rather than selling within 48-72 hours.

[A.J.M]

That was quick.

House came up on Tuesday, We had viewing sorted for Monday night as that realistically the earliest we could see it.

It sold today for over asking.

Shame as it was ideal and house report had said there was space for a garage.

[okgo]

A.J.M said:

That was quick.

House came up on Tuesday, We had viewing sorted for Monday night as that realistically the earliest we could see it.

It sold today for over asking.

Shame as it was ideal and house report had said there was space for a garage.

Without wishing to be rude, if you're in market, and the house is good, letting a weekend go by is usually suicide!

[Sheepshanks]

okgo said:

A.J.M said:

That was quick.

House came up on Tuesday, We had viewing sorted for Monday night as that realistically the earliest we could see it.

It sold today for over asking.

Shame as it was ideal and house report had said there was space for a garage.

Without wishing to be rude, if you're in market, and the house is good, letting a weekend go by is usually suicide!

Reminds me of the leasing thread where people want to test drive and look at colours before comitting to a special offer deal and then they're miffed to find it's gone.

2.5 couples came to see the house we just sold the evening it was listed.

[A.J.M]

Sheepshanks said:

okgo said:

A.J.M said:

That was quick.

House came up on Tuesday, We had viewing sorted for Monday night as that realistically the earliest we could see it.

It sold today for over asking.

Shame as it was ideal and house report had said there was space for a garage.

Without wishing to be rude, if you're in market, and the house is good, letting a weekend go by is usually suicide!

2.5 couples came to see 'ours' the evening it was listed.

I know.
Sadly I work away from home and I’m covering a colleagues shift as well as my own so I’ve been away all week, I’m not home till this evening.
Then family matters for this weekend which need our attendance.

It came on the market the wrong week for us.
Which is a shame but that’s your luck at times.

[Sheepshanks]

A.J.M said:

I know.
Sadly I work away from home and I’m covering a colleagues shift as well as my own so I’ve been away all week, I’m not home till this evening.
Then family matters for this weekend which need our attendance.

It came on the market the wrong week for us.
Which is a shame but that’s your luck at times.

To be fair, all those viewers farted around to some extent, and another couple swept in a week later - cash buyers, offered asking price, no survey, sent all their proofs in. The EA left them hanging for several days until we found out, and instructed her to accept their offer.

I don't know where they'd been for that week, as they'd been in rented (locally) for nearly a year and were getting desperate.

Turned out we knew one of the orginal couples and the husband was trying to play it cool. His missus apparently went ape when they didn't get it.


It's just so random - colleague had 30 people around for an open day on a Saturday and was expecting to be swamped with offers. He was on a deadline to get another house. Didn't get the first offer until Wednesday and by then he'd have probably accepted almost anything! So it could have been good timing on your part.

[PrinceRupert]

Leicester Loyal said:

Yeah I agree with this, stuff seems to be staying on the market now for a bit rather than selling within 48-72 hours.

House on our street sold within a week, nothing particularly special, two bed mid terrace for 425k asking in Z4 SE London.

[red_slr]

okgo said:

A.J.M said:

That was quick.

House came up on Tuesday, We had viewing sorted for Monday night as that realistically the earliest we could see it.

It sold today for over asking.

Shame as it was ideal and house report had said there was space for a garage.

Without wishing to be rude, if you're in market, and the house is good, letting a weekend go by is usually suicide!

Yeah the way things are at the moment is you have to be ready to view pretty much the day the property comes onto the market. By that point the agent has already had the details for the property for a few days and you can be sure they have sent emails out to their core list of buyers who will get to see it before it comes on RM.

What I am seeing now is the stuff thats been on the market since 2019 is starting to get picked up. Seen several that seem overpriced or are in poor state selling this last week or so as stock levels are now at their lowest and 2019 prices look "good value"!. Down to 21 properties for sale now in the area I am looking. If you include SSTC its 62. Incredible shift IMHO.

[A.J.M]

If that’s the case it will be a case of timing and luck for what day it comes up on the market.

I work away every week for a few days so that throws a spanner in the timing.

Something will come up that meets our needs.
It’s early days yet so I’m not worried for houses for the moment.

[okgo]

A.J.M said:

If that’s the case it will be a case of timing and luck for what day it comes up on the market.

I work away every week for a few days so that throws a spanner in the timing.

Something will come up that meets our needs.
It’s early days yet so I’m not worried for houses for the moment.

If its great on the face of it, nothing to stop you offering after wife having seen it then asking for a second viewing when you get back.

[Leicester Loyal]

Got a house viewing sorted for Sunday. Property came onto the market this morning, ideally would like to go earlier, but I'm in self isolation so can't.