Gail5

Hi Linzi,

Thanks for your reply - you're not too far away then!

I've been reading your other posts in Anyone want to sit it out with me ... so I'm going to jump over to that topic and join in, save repeating myself! I'll see you there . . .

Gail

danjones1

I am wondering if people waiting to sell their house are just being a little greedy and expecting a huge profit like it's some god given right?

I do sympathise with people who bought at the top of the market and are trying to recoup a similar amount, but I am guessing many have bought years ago and are still holding out with unrealistic prices?

Remember a house is only worth what someone is willing to pay for it.

Don't put your life on hold for a few extra thousand pounds. The housing market will only get worse before it gets better as there are simply not the buyers to match the supply.

Good luck anyway.

Gail5

Dan,

We've had our house on the market for, well it seems like forever. We have reduced it by £20,000 and we still can't sell. It's not a case of being greedy, you have to be realistic. Why should you give it away, no point in accepting a ridiculous price when most people need the money to buy their next house?

I think you'll get a few replies to your post, Dan, especially from those who've had their house on the market for a long time and have had to reduce the price by thousands and thousands!

Welcome to the forum!

Gail

p.s. I'm guessing your house isn't up for sale?

danjones1

No I don't own a house anymore.

So you dropped it by £20,000 - Do you understand that on its own its a meaningless figure unless we know how much you paid for it and when?

For all I know you could be sitting on a £600,000 house for which you paid £300,000 for back in 1999.

If that was the case I consider you pretty greedy.

Gail5

Now I'm wondering why I wasted my time to even bother to reply to your thread. I'm also hoping nobody else replies.

MOSO

steelblue: If I instruct a new agent and the new agent sells my home, am I still bound to pay the 'dead'/dying/ agent?

Steelblue - this is a tricky one! We have had the same problem, people who've recently offered on ours were first shown the property by our original agent who could in theory want their commission. It all boils down to what 'introducing' means. Our current agent is adamant it means 'introduced to the negotiations' not shown through the door. I can PM you a link to an email they sent with a test case where an agent took someone to court and lost and the court decided 'introduced' did mean 'introduced to the negotiations'. Fortunately we've had a new cash buyer come in so has saved us from these potential problems.

Good news today though, our buyers's surveyor came round today and said he has really seen business jump in the last month or so. Basically he's gone from no surveys to 4/5 a week which is a glimmer of hope for those still waiting. I know it is down to location as well as price as some areas seem to be picking up much faster than others. The surveyor put it down to 'Britain's Got Talent' and MPs expenses scandal stopping the news being so negative the whole time which is an interesting theory!

Good luck to everyone, and I hope the market picks up all over the country (especially in Teesside where we're trying to sell my Grandparents old house without a single viewing this year!).

danjones1

Gail, your responses and attitude to a sensible point I made about greed in the UK when it comes to housing here reminds me why I want to get away from this country. Thank you.

Bonniewoo

Wow, what is your problem? Our house was on the market for the best part of last year, and in the end my OH had to turn down his job offer because the house just wouldn't sale. It's alright saying, take the money and run and forget about the thousands you are going to lose, but in reality, if you're in your forties with two kids, a dog and a big mortgage here, chances are things will be the same in NZ, and if you're looking for a better way of life, struggling too much financially isn't a good start.

We are completely gutted that our plans went down the toilet and are hoping to one day try again, who knows what will happen.

It sounds to me like you've got a bit of the green eyed monster syndrome where owning your own home is concerned. Have you really looked into the housing market and mortgage rates in NZ as I think you will be in for a shock! If you can't afford it here, then unless you're going to earn a good salary or live out in the back of beyond then you probably won't be able to afford it over their either.

Good luck though

Bonniewoo

Sorry, the waffling on was for you 'danjones1'.

danjones1

Your house was on the market for the best part of a year because you and your greedy agent wouldn't price it sensibly. The market dictates the price. People that moan about their big mortgages only have themselves to blame.

I am not jealous. I sold my flat at the end of 2007 and it went quickly because I was realistic about how the market was changing.

Life is too short and I still cannot believe people will put such an important thing on hold as emigrating all because they want a few extra pounds from a house when they are already sitting on decent equity.

Bonniewoo

You're full of hot air and have no idea what you're talking about! I hope you're comments on other threads won't be so heartless. Don't suppose you're an estate agent by any chance?

BEVS

Whilst you are entitled to your opinion about the UK housing market , the tone of your posts to those that are gaining support from this thread needs a bit of thought. There is no need to lambast people in this way, especially as you cannot be certain of their individual circumstances.

Perhaps take the time to read the BE rules. In particular Rule 1

Quote:

Originally Posted by Be rule 1

BritishExpats.com is an interactive site, and everyone who participates is "in it together", please treat others the way you wish to be treated. Personal attacks will not be tolerated. Challenge others' points of view and opinions, but do so respectfully and thoughtfully ... without insult or personal attack.

Thank you

PHONEJUNKY

So what do you think a realistic proffet should be before it becomes greed in %.

chocolate cake

Well I don't agree with the attitude of the previous post, he has got valid point regarding evrything has got its value. A house is only worth what someone else is prepared to pay. Sure it was much more in late 07 than it is now, but even before the recession houses were out of kilter with incomes, and unaffordable.

FWIW I reduced mine substantially from what I first marketed it for, with hindsight I'd have priced it lower at the start and benefited from some interest on that money selling it straight away. I had a sale at asking price fall through straight after I put it up, but when that fell through - buyer went for another property just before signing papers - there was only one other interested (and they couldn't sell theirs) in nearly a year.

The might be more trading now, but houses have still to fall further they are simply still historically high relative to incomes.

danjones1

Sorry if I have upset anyone with my tone. Perhaps not that astute of me as I am new to BE and hope to gain a lot of info from this forum.

However I think it is fair to point out that if your house has been on the market for over a year you have to take a serious look at your asking price. If you were selling a car then you'd be dropping the price a lot faster to get a sale.

Prices are still way out of sync with wages too.

The housing market in the UK has a lot to answer for and has made people obsessed with prices, profit etc.

After all a house is just somewhere to live.