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Flippin housing market what's going on at all.

Flippin housing market what's going on at all.

Old Jul 7th 2005, 3:31 pm
  #31  
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Default Re: Flippin housing market what's going on at all.

geez we are so in the same boat, we`ve had our visa`s since january. put house up for sale. blow me our neighbours put their`s up the week before we did ( and yes they knew when and why we wanted to sell) nice of them huh? we have just changed estate agents, ours went on in march too and only had 4 viewings, NO WAY are my kids goin back to school in september. i have booked my leaving party (end of july) we are going over first week in august and my husband gonna have to come back alone. not what we want but its gotta be done.
good luck with everything, maybe we will cya in brisbane very soon

jude
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Old Jul 7th 2005, 4:16 pm
  #32  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by pinkyjude
geez we are so in the same boat, we`ve had our visa`s since january. put house up for sale. blow me our neighbours put their`s up the week before we did ( and yes they knew when and why we wanted to sell) nice of them huh? we have just changed estate agents, ours went on in march too and only had 4 viewings, NO WAY are my kids goin back to school in september. i have booked my leaving party (end of july) we are going over first week in august and my husband gonna have to come back alone. not what we want but its gotta be done.
good luck with everything, maybe we will cya in brisbane very soon

jude
Hi!!

We can sympathise with the neighbours issue.......Ours put theirs up too ....after us though......Nightmare!!!!!
Sending you some Karma for luck!!!

Roni
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Old Jul 7th 2005, 7:09 pm
  #33  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by Phil-UK
How about offering to pay your buyers stamp duty ? or at least the extra 2% because your over the £250K threshold. You may get a better price and not have to drop as much that way.

Finding the stamp duty @ 3% can be very hard as it's usually available cash you need, not a mortgage, but it would be easier for the seller to fund as they will be recieving house sale funds.

Just a thought but maybe a nice incentive to a buyer struggling to get that 3% tax money and you may not have to drop as much !

Just a thought

Phil
We have thought about this but at the moment I have said to hubbie lets just get the validation trip over and done with a worry about what we are going to do when we get back. I think there is now nothing that we have not thought of. Even thought about when the kids are out playing they can wear carboard signs like the houseless wear but they can advertise our house.
I know we will get there but when. If they offered then maybe we can think about it but we are not getting any offers. Only one that needs to sell there house..
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Old Jul 7th 2005, 7:15 pm
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Default Re: Flippin housing market what's going on at all.

Originally Posted by Pauline
We have thought about this but at the moment I have said to hubbie lets just get the validation trip over and done with a worry about what we are going to do when we get back. I think there is now nothing that we have not thought of. Even thought about when the kids are out playing they can wear carboard signs like the houseless wear but they can advertise our house.
I know we will get there but when. If they offered then maybe we can think about it but we are not getting any offers. Only one that needs to sell there house..
Its all such a nightmare isnt it, ours is being readvertised in papers tomorrow lets hope it brings some more viewers.

Good luck to all selling
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Old Jul 7th 2005, 11:46 pm
  #35  
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Default Re: Flippin housing market what's going on at all.

was it really a 20k loss, or was the house overvalued by 20k?

really, if you sold the house for more than you bought it for taking into account inflation, then you haven't made a loss at all!

Originally Posted by teach
We also dropped the price a few times and then accepted an offer 5k under our final asking price, a 20k loss all told, but if it gets us on our merry way we can live with that.
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Old Jul 8th 2005, 8:18 am
  #36  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by Phil-UK
How about offering to pay your buyers stamp duty ? or at least the extra 2% because your over the £250K threshold. You may get a better price and not have to drop as much that way.

Finding the stamp duty @ 3% can be very hard as it's usually available cash you need, not a mortgage, but it would be easier for the seller to fund as they will be recieving house sale funds.

Just a thought but maybe a nice incentive to a buyer struggling to get that 3% tax money and you may not have to drop as much !

Just a thought

Phil
Hi Phil, and thanks.

Yeh we asked the estate agents what's best shall we offer to pay the stamp duty or drop the price the agent said drop the price, that always works best he said, so we took his advice and dropped the price, and we've even dropped the price since then, though since we've dropped it again we've had a lot more viewing's.

So like i say we've got everything crossed for the second viewing for Sunday.
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Old Jul 8th 2005, 8:24 am
  #37  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by pinkyjude
geez we are so in the same boat, we`ve had our visa`s since january. put house up for sale. blow me our neighbours put their`s up the week before we did ( and yes they knew when and why we wanted to sell) nice of them huh? we have just changed estate agents, ours went on in march too and only had 4 viewings, NO WAY are my kids goin back to school in september. i have booked my leaving party (end of july) we are going over first week in august and my husband gonna have to come back alone. not what we want but its gotta be done.
good luck with everything, maybe we will cya in brisbane very soon

jude
Hi Jude.

Good luck, yeh i hope we can all meet up on the other side, when we get there that is.

sorry im feeling a bit down today, i just keep thinking are we ever going to get there? a house round the corner from us just dropped the price yesterday by £25grand that's now the same price as ours and its bigger so guess who's house is going to sell 1st, we cant afford to drop ours any more.

Paula.
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Old Jul 8th 2005, 8:32 am
  #38  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by Pauline
We have thought about this but at the moment I have said to hubbie lets just get the validation trip over and done with a worry about what we are going to do when we get back. I think there is now nothing that we have not thought of. Even thought about when the kids are out playing they can wear carboard signs like the houseless wear but they can advertise our house.
I know we will get there but when. If they offered then maybe we can think about it but we are not getting any offers. Only one that needs to sell there house..
I feel the same as you, what can you do, we've only had the one offer so far and that was £45 grand less than the asking price and we'd only reduced it the day before by nearly £20 grand.

Good idea with the kids i tell you i'I'vehought of similar things, ehh ehh i think we are all desperate now arnt we.
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Old Jul 9th 2005, 5:25 pm
  #39  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by cantwait
I feel the same as you, what can you do, we've only had the one offer so far and that was £45 grand less than the asking price and we'd only reduced it the day before by nearly £20 grand.

Good idea with the kids i tell you i'I'vehought of similar things, ehh ehh i think we are all desperate now arnt we.

look at it this way...................
how much did you buy your house for?

personally i paid just 60k for mine, people are asking £105k for them now, but not selling.
i'll stick it up at 95k, it'll sell AND i've still made over 30K profit ;-)

if I put it up at 105k, it prolly wont sell for a year and thats 12 months of mortgage payments I wont get back. at £450 a month, thats nearly 5.5K down the drain.
selling at 95k, i'm actually only loosing 4.4K :-)

consider how much morgage you're paying out..........................
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Old Jul 9th 2005, 5:31 pm
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Default Re: Flippin housing market what's going on at all.

Originally Posted by bleugh
look at it this way...................
how much did you buy your house for?

personally i paid just 60k for mine, people are asking £105k for them now, but not selling.
i'll stick it up at 95k, it'll sell AND i've still made over 30K profit ;-)

if I put it up at 105k, it prolly wont sell for a year and thats 12 months of mortgage payments I wont get back. at £450 a month, thats nearly 5.5K down the drain.
selling at 95k, i'm actually only loosing 4.4K :-)

consider how much morgage you're paying out..........................
This is ok for a quick sell but what about when you get to Oz houses over there are not peanuts.
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Old Jul 9th 2005, 11:06 pm
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Default Re: Flippin housing market what's going on at all.

We have also had some difficulty selling our house in North London. We put it on the market last summer for £305,000 after having it valued by the local Estate Agent. He said that it would sell in a few weeks.

We had quite a few viewings in September and October, but the offers were around 15% less than the asking price. We decided that we would hold out for something closer to the asking price.

In January, we went multiple agents after speaking to our friends. 2% commission seemed like a small price to pay to get our sale and enabling us to move to Perth.

Virtually no viewings and in March, the agent recommended reducing the price to £290k, which we reluctantly did. No real interest - we have just been asked to reduce to £275k which we have done. Interest level has gone up, so we have our fingers crossed now.

Sending Karma to you, but please return it with some more, as we need to sell up by August ideally to make our move.
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Old Jul 9th 2005, 11:50 pm
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Default Re: Flippin housing market what's going on at all.

Originally Posted by Hughesjohn
Sending Karma to you, but please return it with some more, as we need to sell up by August ideally to make our move.
Lots of luck Hughesjohn Karma sent
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Old Jul 10th 2005, 10:59 am
  #43  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by cantwait
Hi everyone.

We really need some good luck Karma for Sunday, we've got a couple coming round for a second viewing, they came last Saturday and the agent rang yesterday to say they want to come back at the weekend he also said they looked at quite a lot of properties but said they liked our's the best, i cant help but get exited.

We put the house for sale 1st March, and the agent said at the time it should sell very quickly, good area, and we've got a really large plot, but over 4mths later and we are still hear, (with the visa in our hands waiting.)

Can't really bear the thought of the kids going back to school in September, my son said all the kids at school have been saying "are you not going to Australia now".

So last week we decided to drop the price not something we wanted to do but we thought it might help or save us a trip out to validate the visa at the end of the year, since we dropped it £18,000 we've had more viewing's.

The estate agent said nothing's really selling at the moment only the bargain's, last month a couple made an offer £45,000 grand under the asking price we told them were to stick the offer.


Any one else in the same boat??

Paula.
Warrington, Cheshire. Brisbane soooooon please.
It might be important to realise what is going on. Are we in for a property crash or not? From the perspective of someone who has been a property own er through three crashes - or corrections (1974, 1979, 1989) - call them what you will - it strikes me it is now a racing certainty we are heading for a crash.
But 'crash' is an emotive word and not a very accurate description for what happens.
What happens in a 'crash' is that it starts with a general feeling that property has become 'unaffordable' particularly for would be first time buyers. Unfortunately in this crash the unaffordability factor for first time buyers has been hidden for a few years by the number of buy to let landlords entering the market - replacing the first time buyer as the buyer of flats etc that get chains started.

Next properties start sticking on the market.

Then the market gradually becomes flooded with properties for sale (according to Rightmove there are over 450000 properties on the market at the moment - that's nearly half of the amount that normally sells in a boom year).

Volume decreases next. Number of houses sold is down a third on same period last year - but this, of course, masks regional variations. Where property is very highly priced transactions are down over 50% in some of these areas.

Slowly buyers start to realise we are in a market with falling prices. Who wants to take on a massive mortgage for their next house up, or their first time buy - if they are buying a depreciating asset.

Once this feeling becomes widespread the only sales that happen are forced sales - where vendors and buyers are really motivated to move i.e. they have to. Like you guys - you want to go to Australia and you need to sell your house.

Last time round I saw what was happening (1989) and got scared. I had a big mortgage and wanted to downsize - wife had just had first child - down to one salary. So I put my house on the market just as the chancellor removed the joint tax relief. Lots of interest at first - no sale. I then chased the market down over 2 years dropping the price to follow the market. On the way I rejected 2 offers I would have bitten their hands off for a few months later.

So, my advice to you is - drop your price and get a sale. Put it in an auction with a reserve - you often get a better price than you think at an auction. If you don't sell now, you'll chase the market down over the next 2 years and really regret it.
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Old Jul 10th 2005, 5:59 pm
  #44  
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Default Re: Flippin housing market what's going on at all.

Originally Posted by possoms
This is ok for a quick sell but what about when you get to Oz houses over there are not peanuts.


.............thats not the point.

by looking on the market at SOLD houses broadly similar to your own, you can see what you're likley to get.

IF your huose is on the market for 18 months, thats going to be 10-20k for some of you in mortgage payments.

drop that off the house now, then voila, quick sale :-)
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Old Jul 10th 2005, 7:46 pm
  #45  
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Default Re: Flippin housing market what's going on at all.

Hi
This is my first post on here,would've liked it to be a positive one but reading all these messages about selling houses is something I can really relate to so I can empathise with you all. We had our visa granted in March and put the house up in April.We've had about 10 viewings and two offers but practically everyone that comes hasn't even put their house on the market yet!! We had a second viewing from 1st time buyers on Friday who said they would email and let us know their decision the day after,we haven't heard a thing!

We're so incredibly stressed and fed up that we are seriously considering just selling it cheap to a company that buys houses for cash.We will still make a profit but won't have a decent amount of money left over for a deposit on a new house.It's a last resort,especially since we have offers in at the full asking price but we can't hang around forever waiting for them to sell theirs first. I really hope it's worth all this stress,our excitement is starting to dampen now.

Claire
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