Asking prices...

[conned tractor]

Asking prices are not sale prices.

Trying to go through this at the moment as I would like to move. The agent that is advertising our house was straight, as they can be , with us that if we wanted to sell then we're looking at around 20% less (than 2008) with a view of possibly going lower. I'm ok with a 25% hit, there's no way house prices could stay that high forever.

Anyhow, the boss-lady has seen a house she likes, great location, 3 double beds, great bathroom, kitchen needs doing but ok in the short term. So, it doesn't tick all of the boxes (my wants are a bit extreme fo the type of house we're looking at - double garage/workshop in a 3 bed semi), but we could make do.

Turns out we sort of indirectly know the owner, and the house has been empty for 6 years (following a separation) , on the market for sale for over 2 years and not reduced in this time. So, by my thinking, and has mine has reduced in value by 20-25%, I thought an offer of 25% off asking was reasonable. Estate agent didn't even take my wifes name, but said she'd pass the offer on.

So, if we have some sellers prepared to sell at a reduced price and some that don't, what happens next?

[DimPrawn]

So, if we have some sellers prepared to sell at a reduced price and some that don't, what happens next?

We all end up living in Wandsworth?

[sasguru]

We all end up living in Wandsworth?

You couldn't. You'd have to fight off all the people who want to buy.
And they're all considerably richer than yau.

HTH

[sasguru]

So, if we have some sellers prepared to sell at a reduced price and some that don't, what happens next?

What we have now: stalemate.
Until people have to sell as happened in the last recession.
45% fall in 3 years.

[DimPrawn]

What we have now: stalemate.
Until people have to sell as happened in the last recession.
45% fall in 3 years.

Banks won't reposses, so no one has to sell. Paying your mortgage is optional and the banks don't care.

[d000hg]

£250K in the north will get you 4-5 bedrooms and a large enough garden to keep a horse in

You can certainly get a big semi with garden or a house in the country, but living in a town or nice village is still expensive....

[TimberWolf]

You can certainly get a big semi with garden or a house in the country, but living in a town or nice village is still expensive....

Oh-er.