House prices to fall 10%

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Mackem00 said:
People have watched too many episodes of Location Location and Homes under the Hammer and think they can offer daft bids in and not piss anybody off in the process. If I thought someone was trying to take the piss out of me in a house sale I'd fuck them off and refuse to deal with them. Ridiculous gambling over a couple of grand for your potential dream home like as you say.
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We did this, going in 12% under asking as the estate agent said it was preferable to no bid. Thankfully the bloke was fine in our case and we got the house on a second bid but not sure I’d do it again for the reasons you state.
 
NorthCountryBoy said:
We did this, going in 12% under asking as the estate agent said it was preferable to no bid. Thankfully the bloke was fine in our case and we got the house on a second bid but not sure I’d do it again for the reasons you state.
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(It's slightly different up here, however...)

Went in £1 over on our place to open conversations. They said no and lawyer suggested offering an extra £1k but should it would be a waste of time. Offered £3k more and got it. Still under valuation which is very uncommon up here.
 
Edinburgh Black Cat said:
(It's slightly different up here, however...)

Went in £1 over on our place to open conversations. They said no and lawyer suggested offering an extra £1k but should it would be a waste of time. Offered £3k more and got it. Still under valuation which is very uncommon up here.
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Are valuations not aspirational figures used by estate agents, as that’s always my assumption down here?
 
TheWanderer said:
I thought myself a bit of a barter man when buying my current kip after watching too many of these shows. I went in with a low bid to try get a bargain, was rejected, thought I’d increase the offer a little until the wife turned to me and said “I’ll rip your f***ing balls off if we miss out on this house because you’re being a tit”, offered asking price and bosh, accepted.
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Amazing that mind, who'd have thought it.
 
Mackem00 said:
People have watched too many episodes of Location Location and Homes under the Hammer and think they can offer daft bids in and not piss anybody off in the process. If I thought someone was trying to take the piss out of me in a house sale I'd fuck them off and refuse to deal with them. Ridiculous gambling over a couple of grand for your potential dream home like as you say.
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The problem with this view now as the weeks go on is the projections for the economy are getting worse. I would hardly call house prices dropping 12% etc if so ' a couple of grand'.

We're talking more than a years salary in property value.
 
NorthCountryBoy said:
Are valuations not aspirational figures used by estate agents, as that’s always my assumption down here?
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Not up here. Where there is a home report value of say £160k for example, it may be up for offers over £155k and go for £170k.

Fixed price or offers around are used as well like but you need an 'independent' valuation in the home report.
 
Mackem00 said:
People have watched too many episodes of Location Location and Homes under the Hammer and think they can offer daft bids in and not piss anybody off in the process. If I thought someone was trying to take the piss out of me in a house sale I'd fuck them off and refuse to deal with them. Ridiculous gambling over a couple of grand for your potential dream home like as you say.
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Just tell them from the first bid what you will accept, you're a bit of a tit if you could potentially miss out on a sale because someone has tried their arm a bit.
Quite happily pay estate agent fees though I bet?
 
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joemcdokes said:
Just tell them from the first bid what you will accept, you're a bit of a tit if you could potentially miss out on a sale because someone has tried their arm a bit.
Quite happily pay estate agent fees though I bet?
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Id do what Moo did. If they are going to be tits from the off there is a fair chance they will be in subsequent proceedings.
 
joemcdokes said:
When we were buying our house we'd put a bid in that got rejected, our lass phoned me and said that the offer had been accepted.
I said, 'What they changed their mind', she said, 'No, I put a higher bid in'. :lol:

She didn't even tell me she was upping it.
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I recon if I’d kept my cool and played the long game I could’ve eventually got a bargain, but women are a different very impatient breed!

To be fair we’d actually lost out on two houses by putting in the asking price, due to demand they both went considerably higher than what was being asked. I was feeling the pressure to find a place!
 
TheWanderer said:
I recon if I’d kept my cool and played the long game I could’ve eventually got a bargain, but women are a different very impatient breed!

To be fair we’d actually lost out on two houses by putting in the asking price, due to demand they both went considerably higher than what was being asked. I was feeling the pressure to find a place!
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This was over 25 years ago, a lad at work got around £10,000 above the asking price at the time when Northern Rock were idiots.
 
NorthCountryBoy said:
Are valuations not aspirational figures used by estate agents, as that’s always my assumption down here?
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Exactly this . It’s a business deal at the end of the day. If you get miffed by someone offering less money don’t take it personally..it’s not a slight on all that lovely diy you have done over the years . Some right fannies about.
 
joemcdokes said:
Just tell them from the first bid what you will accept, you're a bit of a tit if you could potentially miss out on a sale because someone has tried their arm a bit.
Quite happily pay estate agent fees though I bet?
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Not really a tit if it's your decision. Depends what you class as a tit I suppose. No idea what you are going on about with the estate agent fees bit.
 
MonkeyLove said:
Just been looking around and it seems the consensus view from ‘experts’ EY, Deloitte, Savills etc... is somewhere between a 5 and 15% fall.

I know a lot on here are in to property. If this happens would you be looking to do anything?

We have a 3 month old and 3 year old and am planning that we will need to upsize when the eldest reaches school. So it might benefit us. Anyone else be looking to move if it dips?
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Thankfully we moved to the "forever" home last year so I don't see me moving again until it's a long black car with space for a wooden box. Pain in the arse for anyone looking to buy/sell right now or for those with buy to let properties.
 
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