Reply to: UK house prices 'to fall by 30%'

[shaunbhoy]

Why would anyone attach any credence to the opinions of a Banker in light of their recent performance in terms of sniffing the wind economically? Bunch of clueless barstewards most of them, and the rest of us are having to bail them out which is even worse!!

[AtW]

Probably saved myself about 150,000.

You leant a good lesson too - next time you bid make sure you bid xxx,151

[minestrone]

Put an offer in on a place in January for 495,000. Missed out by 150 quid. Been renting ever since.

A bullet well and truly dodged.

Probably saved myself about 150,000.

[Mich the Tester]

I think that even without a credit crunchie recession house prices would eventually have caved in. There comes a point where people see the price of a house and say ‘that’s bloody silly; I’m not paying umpty-hundred thousand pounds/dollars/euros for that’, and decide to rent something cheap or not bother ‘trading-up’.

[AlfredJPruffock]

All this talk of 30 per cent decline should be seen for what it is - scaremongering.

You only have to look at other nations experience of Defalation eg Tokyo where property fell by 85-90 per cent in the early 90's to get a realistic impression of what could be in store.

And property there STILL hasnt recovered 18 years later - so all those bargain basement buyers got their mits burnt as well.

Finally - you dont own a house - it owns you.

Dr Winston O'Boogie

[AtW]

The curse of deflation. It just doesn't stop because everyone is holding off. I don't really agree with this mindset with houses - unless you consider them as just an investment...or a line of credit.

realistic, sensible pricing

[Old Greg]

The curse of deflation. It just doesn't stop because everyone is holding off. I don't really agree with this mindset with houses - unless you consider them as just an investment...or a line of credit.

I view it as a place to live. But I don't want to pay more for it this year than I could next year. I don't particularly want deflation, but if that's what we're getting, I intend to position myself as best I can to get through it.

[lilelvis2000]

We sold in April and are now renting. We'll be waiting it out because any price that we can get now will be much better in 6 to 18 months time.

The curse of deflation. It just doesn't stop because everyone is holding off. I don't really agree with this mindset with houses - unless you consider them as just an investment...or a line of credit.

[Old Greg]

With morgage approvals falling such agencies were in trouble months ago.

There is no point buying house now - the prices will fall further and a lot of sellers will have to drop prices, right now they try to avoid selling and this constraints the falls in prices.

We sold in April and are now renting. We'll be waiting it out because any price that we can get now will be much better in 6 to 18 months time.

[AtW]

Quite a few estate agents make quite a bit out of money out of arranging the mortgage for the purchaser.

With morgage approvals falling such agencies were in trouble months ago.

There is no point buying house now - the prices will fall further and a lot of sellers will have to drop prices, right now they try to avoid selling and this constraints the falls in prices.

[Purple Dalek]

They were completely uninterested in me viewing as a cash buyer. Too many buyers chasing too few properties.

I knew CyberTory Street was popular, but......

Quite a few estate agents make quite a bit out of money out of arranging the mortgage for the purchaser.

These types of agencies are often identified by their complete lack of interest in cash buyers, even though they may offer a higher price.

It's a common enough, would of thought someone in property like you say, would have seen it before.

This type of agency often also sells houses of the recently deceased (vacant possession, no chain), but that's another story.

So, if you see them doing one, they generally are at it with the other.

You could try going around the agent to the owner, but I've found that route can lead to other difficulties, so if you're niave to all this, it's best to walk away.

[DimPrawn]

I thought you only had £500K in cash though, not $750K?

I've got £500K cash and about £250K available in equity I can release instantly on other properties I own that are mortgaged with a flexible mortgage (One Account).

[DimPrawn]

Quite possible that people from abroad with other currencies are taking advantage of the weak pound.

The house is the one with the quadruple garage block. It's one of the smallest houses/plot in that road.

http://maps.live.com/default.aspx?v=...cl=1&encType=1

[TimberWolf]

They were completely uninterested in me viewing as a cash buyer.

I thought you only had £500K in cash though, not $750K?

[Mich the Tester]

They were completely uninterested in me viewing as a cash buyer. Too many buyers chasing too few properties.

I knew CyberTory Street was popular, but......

Quite possible that people from abroad with other currencies are taking advantage of the weak pound.