Offer 30% below asking

[CheekyFakers]

A number of valuations all arrived at the same marketing price.

Healthy number of viewings to begin with (though feedback notes didn’t quite match who came through the door, numbers wise) but no offers. To be fair, this was right in the mini-budget aftermath.

After pressing the agent, one chap came to view. Took a few days to come back with an offer 30% below asking on a £1.7m property.

Is this pure CFery? Is the market that bad? Or have agents been known to send associates round to view and make guaranteed ‘no, thanks’ offers?

If it’s pure CFery, I’ll be making a note to try this myself!

I think HotChoxs has some very valid points.

Trapping the next generation into a lifetime almost impossible debt slavery, just so the people who came before them can 'feel' richer is insane. It does nothing for society, and takes away choice. If your only option are paying extortionate rent or taking out an extortionate mortgage, then you'll spend 30+ years working like a debt just to afford to live. Want to be a stay at home Mum? Change careers? Take some time out to volunteer/travel? Nope, too bad, not an option for you. I'm angry at all governments worldwide that have hallowed this situation to develop. Its not right, and there needs to be reckoning.

The LOL situation is the fact you really wish I was DHB

@mjf981

There does but unfortunately people like the person I've been responding to still don't understand it even after the madness of the past couple of years. If they don't get it now, when will they?

Until people are willing to take a stand against this modern day feudalism there's just going to be more pain for the poor and destruction of the middle classes.

feudalism ... that's a coincidence it's a term that our old friend DHB uses. Don't generally hear people use that term unless they are history teachers.

You did say you're an academic but I don't think trolling on Mumsnet counts as an academic discipline.

Not a coincidence at all. People who are aware understand history.

Here's a coincidence, people like you always claim a house price crash is bad for the Country, yet never make seem to make any noises when house prices are inflating at a level that's going to cause a crash.

Why is that? Is it because you don't actually care about the Country, you just want the easy property gains to keep rolling in?

And by the way if all you can argue is that I'm another poster, you've lost the argument!

"people like me".... generalising like mad when you don't know me. In fact, I have not said that a house price crash is bad for the country. I can see it has advantages for first time buyers. My son for example has yet to buy a property and falling prices would benefit him and many like him.

What I have said is that I feel sorry for the individuals badly affected by the current market, recent home buyers who are anxious about high interest rates and negative equity. I wouldn't laugh off property prices falling because, while I see it as temporary and something I've experienced before in the late 80s (plus it doesn't affect me as I'm not buying or selling), it affects some people and is an anxious time for them. Not everyone sees these things as cyclical, which I do, having seen it all before.

You just come across as someone with an axe to grind against anyone who has made money through property. Who changes their username as often as they change their underwear just so you can agree with yourself.

Haha generalising when you don't know me, that's priceless coming form someone who keeps saying I'm another poster.

And you clearly don't want a house price crash, despite what you say. Your responses on this thread are pretty self evident.

I don't have an axe to grind, as I said some of us speak out, and some of us are on the wrong side of history.

At least I don't say "people like you" which is horribly stereotypical.

It's not that I "want" or "don't want" a house price crash. I see it as utterly outside my control and also something cyclical as I said. House prices fall and they rise, that is my experience and the same thing also affected my parents and grandparents. How much did my parents pay for their properties in London - about 20k. How much did my grandparents pay? Even less. The prices didn't rise every year in a linear fashion but still, they did rise over time. That's actual historical fact not a prediction into the future. They didn't do anything particularly smart and they didn't do anything selfish. Just chose to buy rather than rent forever which turned out to be a good decision.

I see, it's just the way it is.

Here's a historical fact for you as well, everything is just the way it is until people challenge it and it changes.

@Twiglets1

How many messages have you written to DBH criticising him?

How many letters have you written to your MP criticising them for facilitating house price booms and crashes?

How are you challenging it to change it? Didn't you just claim to own several properties at home and abroad? If that's true you are hardly challenging the system to change it. You're wallowing in the toxic system, as you see it.

I haven't written any letters to my MP. I already explained that I see house prices and falls as utterly outside my control. I feel philosophical about it like the market will decide when prices rise and when they fall, nothing my pathetic local MP can do about that.

@Twiglets1 speaking of change, the issue will be that social change makes the world unrecognisable from the days when parents for property for 20,000 in London. If you want to go back to when conditions and all the stars aligned for women to stay at home and be stay at her mothers, then you have to withdraw certain other aspects that we would be very keen not to lose. It’s never been an option for anybody with responsibilities for taking time off and travelling except the super rich so citing that as a possibility is ludicrous comparison.

Every generation sees change some will be for the better some will be for the worse economics of it are just part of that.

What about my personal situation then? My then bf and I bought our first flat in East London in 1988 for 62k, we sold it for 60k which felt bad at the time. That same flat sold this year for about 450k. We bought a house for 75k and sold it for 70k after 2 years, that wasn't great either.
I'm not super rich, I work in education and my husband works in the NHS. But we now have a property worth over a million despite being ordinary people juggling part time work with raising children when they were younger. House prices fell and then rose and over the long term, they rose a lot, especially in the South East. I hope my children can also make money from property and expect they will in the long term. It seems a safer gamble than advising them to put all their earnings into renting, which holds 0% chance of making their life more comfortable as they get older.

@Twiglets1 I agree with you and from my personal perspective. I literally don’t know anybody who earns less than 50 grand a year and we don’t live in London (40 mins away) so for me local house prices are perfectly affordable and actually if you go north where potentially the wages used to drop, now they dont. Whilst of course I can see the argument that the only people benefiting here are the money lenders and the government when they claim stamp duty but also the employers because people who own houses tend to do as they’re told at work and turn up every day. Overall I’m doing everything I can to help my children to just get on with it buying something. Pay it off as fast as you possibly can.
People miss a massive trick these days because they’re forced to have a repayment mortgage, where as actually using other investment vehicles, such as pensions and shares used to be far more effective.

They’ve stop that now because people couldn’t be trusted I guess and it’s another example of a few spoiling it for the many.

The issue has always been in my opinion for the last 20 years lack of wage inflation and the way we fix this is for that to catch up. Personally I’ve had 100% pay rise since 2018 and that doesn’t include little extras that have found their way to my pocket.

Mumsnet paints a picture of misery and bleakness and I think that’s because a lot of the posters would be poor No matter what the economic conditions, they just do not have for whatever reason health, mental health whatever the capability or the capacity to pull themselves out of the situations quite simply they were never going to own assets. So trying to drag down everybody else to their level, claiming it will help them to afford. It is just absolutely bollocks.

@nix31 well, there’s your issue right there, lack of reading comprehension. I’m not gonna fix it for you. I’ll wait for the penny to drop. 🙄

Gosh what an odd thread, it seems to have been taken over by someone going on about how financially savvy they are, 🤥

@nix31 again I will point to your complete lack of reading comprehension and I suspect that’s holding you back a lot more than everything else you’re attempting to site. Good luck

I just did by trying to get you to write to your MP.

That’s you challenging it to change it? Winding up some random person on Mumsnet. Not very effective I’m afraid.

Whatever I say you won't do anything about it because it suits you for people to suffer so long as you are ok.

I wasn't about to become one of your victims and am preparing to move Country as we speak leaving you to pick up the pieces. I sold most of my property last year.

The people without resources to pay utilities dont own property.

www.mumsnet.com/talk/am_i_being_unreasonable/4695252-i-woke-up-to-ice-inside-the-windows-this-morning?

Course you did.