nickball75 Posted May 5, 2008 Share Posted May 5, 2008 Me and the missus are considering moving at the moment, but obviousley the s**t has hit the fan in the housing market. I was just wandering if anyone on here is selling or has sold recentley to get an idea as to wether people have actually stopped buying houses or if its all over hyped by the papers? we woud be trying to sell a 2 bed, which is obviousley more of a first time home. First time buyers are the ones that cant get mortgages. Anone on here a first time buyer that has been refused or has actually got a mortgage recentley? Just putting the feelers out really to see if this really would be a bad time to sell/buy. Cheers Nick Link to comment Share on other sites More sharing options...
tooquicktostop Posted May 5, 2008 Share Posted May 5, 2008 My parents have been on the market for over a year, they were on for £305,000 at first then dropped to £300K then down to £290K and now at offers around £279,995 but have had NO offers, it is in one of Soilhulls best post codes for schools and is a wonderful house, they are moving to Spain and the stress has really got to them, my feeling is that anyone selling right now will have a fair wait unless they have a real cheap deal Their house BTW http://www.rightmove.co.uk/viewdetails-7009431.rsp?pa_n=2&tr_t=buy Link to comment Share on other sites More sharing options...
Shadow Beast Posted May 5, 2008 Share Posted May 5, 2008 yes mate, we are TRYING to sell it the mo, house on for 182K no ones even looked and its been on for 10 weeks now, estate agents have said if we drop it 15k then it will sell! they wont drop there fees to match though! we would lose out on 15k + al the other fees and they would lose about 150 quid! if you could sell it without estate agents then i would go for that route, i've got no time time for them, as soon as we are out of contract we will be going else where. (we have also had a few problems with them aswell, not just the price drop). http://www.rightmove.co.uk/viewdetails-19949291.rsp?pa_n=1&tr_t=buy Ours if anyone intrested! richie Link to comment Share on other sites More sharing options...
grahamc Posted May 5, 2008 Share Posted May 5, 2008 My parents have been on the market for over a year, they were on for £305,000 at first then dropped to £300K then down to £290K and now at offers around £279,995 but have had NO offers, it is in one of Soilhulls best post codes for schools and is a wonderful house, they are moving to Spain and the stress has really got to them, my feeling is that anyone selling right now will have a fair wait unless they have a real cheap deal Their house BTW http://www.rightmove.co.uk/viewdetails-7009431.rsp?pa_n=2&tr_t=buy Thats a nice house, however I would get them to change the pink wallpaper in your old room Link to comment Share on other sites More sharing options...
tooquicktostop Posted May 5, 2008 Share Posted May 5, 2008 Thats a nice house, however I would get them to change the pink wallpaper in your old room That was my old room many many years ago, they converted it to an office within a week of me moving out, it is now a room for the two grand daughters to share when they visit Link to comment Share on other sites More sharing options...
carl0s Posted May 5, 2008 Share Posted May 5, 2008 Thing is, if you paid £75 grand for your house 10 years ago, and you've been told it's supposedly worth £200k now due to the absurd boom of the last decade or whatever, well if you want it to sell I think people should perhaps 'get real' and ignore what it's supposedly worth, and accept that any sort of profit is good. If there's no profit - i.e. you just bought, then unlucky/silly you. Something's only worth what somebody will pay for it, and it looks like nobody will pay what's being asked (finally!). IMO, houses at the current prices are just not a valuable proposition whatsoever. They're just not worth what the market is asking, in terms of real value. It's like a loaf of bread costing £10. I'd just stop eating bread, 'cause it ain't worth a tenner a loaf! Link to comment Share on other sites More sharing options...
jaymdee Posted May 5, 2008 Share Posted May 5, 2008 Also, If you're selling and buying then what's the issue? The house you were going to buy has also dropped. it's the PRICE TO CHANGE that's important, not what you get for yours Link to comment Share on other sites More sharing options...
Conrad Posted May 5, 2008 Share Posted May 5, 2008 Me and my Dad are in the property game and it's affecting everything now. Tradesman are getting laid off and sites are closing down as nobody is buying anymore. The big builders have just decided what's the point spending more money developing if nothing is going to sell. The Credit Crunch is mostly to blame, last year if you had a 5% deposit and good credit mortgage lenders were falling over themselves to give you money. Now you need 10% and even then it's difficult to get a mortgage, they just no longer have the money to lend. Link to comment Share on other sites More sharing options...
Homer Posted May 5, 2008 Share Posted May 5, 2008 In my road, there has been no change. 3 houses went up for sale in March, all are now sold, all within 1% of asking. The local estate agents said they've noticed no change in the market here, however these houses are on the lower end of the scale but in high demand. Link to comment Share on other sites More sharing options...
Chris Wilson Posted May 5, 2008 Share Posted May 5, 2008 If you are moving within the UK it matters not a jot what happens to prices, if your house is only worth 50 pence, so is an equivalent property. Getting people used to the market changes is the thing that slows the market, if people were realistic probably 70% of sales and purchases would proceed as normal. If you are liquidating a property portfolio, selling a second home, or moving abroad it's a different matter, of course. Link to comment Share on other sites More sharing options...
jaymdee Posted May 5, 2008 Share Posted May 5, 2008 Link to comment Share on other sites More sharing options...
Ewen Posted May 5, 2008 Share Posted May 5, 2008 We are just about to put ours on the market. Early days yet. We are at the stage of being buried in house details from three estate agents, and trying to get a handle on what we can expect for what we want to spend / borrow. Google Maps is very useful for this, you can get a feel for an area in the comfort of your own living room. Link to comment Share on other sites More sharing options...
Al Massey Posted May 5, 2008 Share Posted May 5, 2008 my and the wife sold our house 2 years backand had it for 3 years and are now looking to but, back then was easy to do and our morgage was ok, but we had a morgage advisor come round the other week and said with the current intrest rates we wil be paying over a grand a month on repayments so we may have to wait a while for them to go down Link to comment Share on other sites More sharing options...
nad300 Posted May 5, 2008 Share Posted May 5, 2008 How do you go about selling your house without a estate agent ?? is it just a matter of sticking a for sale sign/advertising & appointing a solicitor/licensed conveyancer ?? Link to comment Share on other sites More sharing options...
nickball75 Posted May 5, 2008 Author Share Posted May 5, 2008 I know that its all relative, if your house comes down so does the one you are buying, but the problem for me lies with the equity. for instance, if the house is worth £185,000, and we owed £160,000 on the mortgage, and we had to come down 15k to sell, we would lose our 15k's worth of equity, this in turn will reduce our loan to value decrasing our deposit making it harder to get a mortgage (does that make sense??). I know what you lose now you would gain when the market sorts itself out, but I think you can kinda see our predicement as far as equity is concearned. Link to comment Share on other sites More sharing options...
Fifty Posted May 5, 2008 Share Posted May 5, 2008 Mines up for sale - big price, big place, no luck yet but will keep fingers crossed I will drop several thou if necessary http://www.millerson.com/si.cmsx?itemID=1355&propertyID=567050&searchType=map Rich Link to comment Share on other sites More sharing options...
Shane Posted May 5, 2008 Share Posted May 5, 2008 Mine has been on the market for about 2 months now, had loads of people round at first but no one for about 3 weeks. I dropped at the request of the agent, but only because the house I am after also dropped in price. Find dealing with estate agents a real chore and partly why I have left it so long in moving, just that I have seen a house I really want and could virtually clear my mortgage if I get it. What amazes me is that they say that your house is probably the most expensive investment you will ever make so how come we entrust the sale of it to people who have no idea about anything and dont need any qualifications to sell it. Am about ready to pull it off the market and have told the agents that if the one I am after gets sold before mine does I will be staying here. Although the £400 I had to pay out for a HIP annoys me too and the thought of losing that as it only lasts 12 months makes me sick. http://www.rightmove.co.uk/viewdetails-20244356.rsp?pa_n=1&tr_t=buy Link to comment Share on other sites More sharing options...
Carl_S Posted May 5, 2008 Share Posted May 5, 2008 yes mate, we are TRYING to sell it the mo, house on for 182K no ones even looked and its been on for 10 weeks now, estate agents have said if we drop it 15k then it will sell! they wont drop there fees to match though! we would lose out on 15k + al the other fees and they would lose about 150 quid! if you could sell it without estate agents then i would go for that route, i've got no time time for them, as soon as we are out of contract we will be going else where. (we have also had a few problems with them aswell, not just the price drop). http://www.rightmove.co.uk/viewdetails-19949291.rsp?pa_n=1&tr_t=buy Ours if anyone intrested! richie Dude that's a beautiful house. Worth every penny. Where abouts in england is it? Link to comment Share on other sites More sharing options...
marbleapple Posted May 5, 2008 Share Posted May 5, 2008 I'm buying a new build in Menston (LS29) at the moment and the suggestion about house prices hasn't put me off. Looking at the number of houses on the site with 'sold' signs, I guess it hasn't put many other people in my area off either. Link to comment Share on other sites More sharing options...
Guest blockbuster Posted May 5, 2008 Share Posted May 5, 2008 I sold a 2 bedroom detached bungalow with garage just before the market went to shit, this was without advertising which was even more lucky. I reserved a new build this time last year expecting to make at least 20k before it's built...win some lose some. Link to comment Share on other sites More sharing options...
Guest blockbuster Posted May 5, 2008 Share Posted May 5, 2008 .. Link to comment Share on other sites More sharing options...
Aero-M Posted May 5, 2008 Share Posted May 5, 2008 havard is selling one for £100 at the moment, comes with a free ghost to! Link to comment Share on other sites More sharing options...
nickball75 Posted May 5, 2008 Author Share Posted May 5, 2008 Talking of estate agents, has anyone here ever sold privatley through rightmove?? The Thought of giving the smarmey bastards 2k for doing fook all nearly makes me boak. and half the time you have to show them around yourself!! Link to comment Share on other sites More sharing options...
Shadow Beast Posted May 5, 2008 Share Posted May 5, 2008 Dude that's a beautiful house. Worth every penny. Where abouts in england is it? Thankyou, we've put a fair bit of work into it, thats why i dont want to let it go for silly money, if needs be we will hang on till the market gets a bit better, i would be really annoyed if it went for a below asking price, then in 12-18 months time the market really picked up again. The house is in a village just outside northampton (Rushden) richie Link to comment Share on other sites More sharing options...
Shadow Beast Posted May 5, 2008 Share Posted May 5, 2008 Talking of estate agents, has anyone here ever sold privatley through rightmove?? The Thought of giving the smarmey bastards 2k for doing fook all nearly makes me boak. and half the time you have to show them around yourself!! Sorry cant do the multi quote thing, dont know how its done!! not sure how you go about it, weather the houses on right move are all through estate agents or not, maybe some where like ebay! surely as long as you have the correct paperwork and do it through solicters then it would be ok to do? like us, the one thing i hate is paying the estate agents there money for doing nothing, when we had a viewing, the cancelled it and left a message on an answer phone, didnt even have the common decency to ring one of the other 4 numbers to speak to either me or jen to inform us! our hips at the mo has cost us 99 quid and the rest on complition, thats a complete waste of money as well if you ask me, just to say how energy efficent your house is. things like how many energy saving light bulbs we are using, who gives a ****? more money in the coffers for the goverment me thinks! richie Link to comment Share on other sites More sharing options...
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