Reply to: Desperate EA

[BrilloPad]

gf's Aunt & Uncle sold their house - the chap buying could not sell his existing place. So he is renting it for 2 years.

[Peoplesoft bloke]

In any case, whether it's shares/property/other investment my experience with working with some of the best traders
tells me that you should do the opposite of what the market does: buy when others are selling and sell when others are buying.

Yeah great, except this is not an investment it's where I live, and if I sell it I'll need another one.

[Peoplesoft bloke]

We're all property experts here, and by asking your question you appointed us by default

P.S. I recommend you drop your selling price further.

That's all fair comment except for one thing.

I didn't ask a question.

[TimberWolf]

...you should do the opposite of what the market does: buy when others are selling and sell when others are buying.

What if everyone does that though

[Dow Jones]

Lemming mentality

Price is immaterial. What counts is the UK house buyer mentality. They always fall into the trap of rising/falling prices, ie when prices are going up fast, they hurry to buy so that they don't miss out and when prices start falling, they wait until they fall even more - not really knowing the reasons why. My guess is that there is NOT going to be a wholesale collapse of the market, however newbies that bought from new in a 20-floor/100 flat block are going to pay the price. Serious investors in good central locations will not suffer much.
In any case, whether it's shares/property/other investment my experience with working with some of the best traders
tells me that you should do the opposite of what the market does: buy when others are selling and sell when others are buying.

[DiscoStu]

Have you tried dropping the price?

[Marina]

Oh FFS

I already did that - and yes I have a postcode. Who appointed you my property expert?

We're all property experts here, and by asking your question you appointed us by default

P.S. I recommend you drop your selling price further.

[Old Greg]

soon to be working for shell as a tanker driver

Congrats - got your increase as well. Say hi to sockpuppet if you see him.

[unemployed]

Are you still unemployed, Unemployed? (And I mean that in a nice way, not a mean-spirited way).

soon to be working for shell as a tanker driver

[sasguru]

Oh FFS

I already did that - and yes I have a postcode. Who appointed you my property expert?

Did you know you ought to lower the price of your property?

[Old Greg]

Are you still unemployed, Unemployed? (And I mean that in a nice way, not a mean-spirited way).

[Old Greg]

Oh genius!

1. I already have slightly more than the indices suggest prices have fallen.
2. It didn't help.

The problem lots of people are facing is the risk of 'chasing the market down'. Lots of small drops as the maeket falls. Might be better to put a bigger drop in now, providing you can get a new place for a similar discount (if that's your plan). Anyway, it's a difficult position and a difficult decision, so best of luck.

[unemployed]

Oh FFS

I already did that - and yes I have a postcode. Who appointed you my property expert?

[Peoplesoft bloke]

I would be more inclined to look at last land registry figures for your street.

Got a post code ?

Oh FFS

I already did that - and yes I have a postcode. Who appointed you my property expert?

[Pickle2]

Oh genius!

1. I already have slightly more than the indices suggest prices have fallen.
2. It didn't help.

The indicies are lagging indicators. The properties that sold a couple of months ago were probably the ones that stood out as bargains. This month the same property at the price would no longer stand out as such.

Lop 15%-20% off your place now, and get it shifted. Otherwise you will just chase the market all the way to the bottom.