Page 6 | No viewing on our house in two weeks!

Nataliemcm9 · 2023-09-01T17:14:14+00:00

I know the current market isn’t great, but we have had our house up for sale coming up to two weeks and not one single view. I’m starting to think maybe it’s up for too much? But we don’t want to reduce it yet. Is anyone else have the same issue with selling their home at the moment?

Boomboom22 · 03/02/2024 23:51

🤣 again, read and face value are the same. Hilarious.

CrashyTime · 04/02/2024 23:01

cupcakesarelife · 03/02/2024 12:21

I hope that’s good for you financially 🤞🏽
for a lot of people it’s still very high. It’s very high for me. You can check mortgage payments in rightmove directly. Under any house is a mortgage calculator.

Put a house price in, your deposit and interest rate and it’ll tell you the monthly payment. For a lot of people, buying a standard family home will cost a fortune at 4%. For some it’s £3k per month! It explains why London and more expensive areas are not selling well. But if you’re buying a one bed flat, monthly payments probably won’t hit you that bad. Depends on your income and what you’re buying. But most people who are stuck in the market are families - they can’t move or they can’t buy because they simply can’t afford it still.

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Thats good news, it means prices will have to come way down. The 4% rates are just part of the banks "debt sale" which is a panic reaction to demand for mortgage debt dropping off a cliff, I think the banks will be forced to raise their mortgage rates soon due to market forces, the cost of money is the cost of money, there isnt gong to be a massive global bail out this time.

CrashyTime · 04/02/2024 23:06

Brumhilda · 03/02/2024 14:27

Slow crashes don’t happen, firstly volumes drop then prices tank.

Yep, volumes have really tanked, so that means most people can`t get anywhere near the headline prices, then sentiment changes, and then it really starts to crash and no one, not even the most invested deluded VI can deny it. Happy happy days for UK society really if this monster bubble collapses.

Brumhilda · 05/02/2024 05:40

So you have any up to date figures on volumes @CrashyTime id be interested.

The real tell for me, is that houses where I live, Buckinghamshire are turning up in the auction room.

Unheard of that a house in Beaconsfield isn’t moving, even if it is a really shit one.

Brumhilda · 05/02/2024 05:43

Have you researched their Tier 1 capital ratios @CrashyTime ?

CrashyTime · 06/02/2024 16:45

Brumhilda · 05/02/2024 05:43

Have you researched their Tier 1 capital ratios @CrashyTime ?

Not recently no, I am more interested in how the mass psychology is changing as the cheap debt dries up, if a big bank goes pop you will hear about it and they will get freshly printed paper so you can get your cash out.

CrashyTime · 06/02/2024 16:47

Brumhilda · 05/02/2024 05:40

So you have any up to date figures on volumes @CrashyTime id be interested.

The real tell for me, is that houses where I live, Buckinghamshire are turning up in the auction room.

Unheard of that a house in Beaconsfield isn’t moving, even if it is a really shit one.

https://www.plumplot.co.uk/Buckinghamshire-property-transactions.html

Buckinghamshire property sales volumes in maps and graphs.

Between 1/2023-0/2023, there were 6.4k property sales and sales dropped by 44.3%. 131 properties, 2.0% were sales of a newly built property.

https://www.plumplot.co.uk/Buckinghamshire-property-transactions.html

Crikeyalmighty · 07/02/2024 12:15

@Brumhilda yep and a lot of probate houses are needing 'work'. Work that is now very expensive to do and hard to find reliable affordable people to do it. But many families hang on expecting a very nice and very large windfall , rather than price to offload it very quickly -

cupcakesarelife · 07/02/2024 12:33

Crikeyalmighty · 07/02/2024 12:15

@Brumhilda yep and a lot of probate houses are needing 'work'. Work that is now very expensive to do and hard to find reliable affordable people to do it. But many families hang on expecting a very nice and very large windfall , rather than price to offload it very quickly -

This is very true. I’m already going through a purchase but a different house I viewed was a probate. The pictures and description made it look and sound like only a cosmetic job required, but when we arrived there was evidence of damp everywhere, a massive crack going through the house from upstairs to downstairs, stairs felt loose and frightening to walk down, holes in the floors-ceiling, carpet had burnt patches!!! And it stank of urine Seriously. I was nauseous and needed to be in fresh air for hours after that. It’s price was £800k (only £50k) below other houses in good condition on the street or nearby. Only yesterday it was reduced by £40k, their first reduction after nearly 4 months on the market!! No one is going to buy that house still. Honestly, I dont know how anyone can leave their parent living like that before they pass. It was a massive no from us. Worth £0 to us.

CrashyTime · 07/02/2024 13:53

cupcakesarelife · 07/02/2024 12:33

This is very true. I’m already going through a purchase but a different house I viewed was a probate. The pictures and description made it look and sound like only a cosmetic job required, but when we arrived there was evidence of damp everywhere, a massive crack going through the house from upstairs to downstairs, stairs felt loose and frightening to walk down, holes in the floors-ceiling, carpet had burnt patches!!! And it stank of urine Seriously. I was nauseous and needed to be in fresh air for hours after that. It’s price was £800k (only £50k) below other houses in good condition on the street or nearby. Only yesterday it was reduced by £40k, their first reduction after nearly 4 months on the market!! No one is going to buy that house still. Honestly, I dont know how anyone can leave their parent living like that before they pass. It was a massive no from us. Worth £0 to us.

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No house is worth zero unless there was a chemical spill or something? Are you allowed to link to the house so we can follow their progress with PropertyLog?