Asterix Posted April 6, 2009 Posted April 6, 2009 8 months ago, just before the credit really crunched and the house market plummeted, we accepted a reasonable offer on our house. Since then, the potential buyers have been from bank to bank, through a series of IFAs, searching for finance. Last week, finally, they got a deal from Natwest and the bank's valuer is coming round tomorrow (Tuesday 7/4). Though not financial in nature, there are significant reasons why we'd like this sale to happen sooner rather than later. Though we pitched the sale price low, my worry is that since last October, the market has fallen below the asking price. I'm not a religious bloke by a long shot, but if anyone out there wishes to cross whatever they have for us, then it's appreciated. Quote
Norman Verona Posted April 6, 2009 Posted April 6, 2009 As a non believer, Id better not pray for you. But you have a pm instead. Quote
chrisshorty Posted April 6, 2009 Posted April 6, 2009 housing market is picking up again if all fails. but good luck anyways Quote
samcooke Posted April 7, 2009 Posted April 7, 2009 QUOTE Though we pitched the sale price low, my worry is that since last October, the market has fallen below the asking price. Maybe, but chrisshorty is right - the last 18 months worth of pent up demand is currently being released and we're getting more money for stuff now than we were late last year, so hopefully the valuer won't have a problem with yours. If he does downvalue it and you need to remarket, get it sold before July - this little blip isn't likely to last beyond then. If in doubt, make the valuer poison tea and fake his signature on the forms. Quote
Buzz Billsberry Posted April 7, 2009 Posted April 7, 2009 housing market is picking up again if all fails. but good luck anyways Unfortunately it isn't. One of the banks reported last week that they'd seen an .09% increase but the truth from the markets is it isn't and continues to fall but not on the scale it was doing earlier. On saying that good luck and stick to your guns and say the price was adjusted accordingly and you've verbly agreed on a deal but don't loose the deal of a couple of K, but if they take the P**s say no Buzz Quote
Asterix Posted April 7, 2009 Author Posted April 7, 2009 He's just left. I asked him if he good give us an early view. Apart from being in awe of the property, he didn't think that the proposed valuation would be a problem. So, no champagne yet, but hopefully some soon. Thanks for all the good wishes. Quote
barney Posted April 7, 2009 Posted April 7, 2009 looking good,hope it all goes through ok mate... you got the bearded one on speed dial.. Quote
combatsapph Posted April 7, 2009 Posted April 7, 2009 QUOTE Unfortunately it isn't. One of the banks reported last week that they'd seen an .09% increase but the truth from the markets is it isn't and continues to fall but not on the scale it was doing earlier. Depends where you live and if that area is being badly hit and what the value of the house was to start. Been looking at remortgaging recently. House was valued in November - £140k. Revalued Jan - 140k. Revalued Last week £144k. Higher priced houses seem to be getting hit harder than what I would class as first time buyer properties, as ours is. Quote
oioi Posted April 7, 2009 Posted April 7, 2009 Unfortunately it isn't. One of the banks reported last week that they'd seen an .09% increase but the truth from the markets is it isn't and continues to fall but not on the scale it was doing earlier. and another one said it had fallen 1.9% truth of the matter is so few are being sold thats its diffcult to say, but the overall trend is still downward (yipeeeeee ) Quote
Mark (smokey mow) Posted April 7, 2009 Posted April 7, 2009 From my experience what's being reported in the media at the moment isn't a fair reflection of the housing market in all areas of the country. Whist it's true that there has been a fall in housing prices generally over the last year, certain areas are now showing signs of recovery. It's probably too early to say if these rises are the beginning of an upward trend or a small blip before another fall but the housing developers I've spoken to in suffolk are still selling property (in similar volumes to last year) and continuing to commmence on new plots. As a Building Inspector the volume of work I am dealing with is comparable to previous years and the early indications for the year look good, I would however add that I work in a fairly afluent area of the country (The Dedham Vale & Constable Country) and this may not necessarily be representative as a whole. Quote
Carl Posted April 7, 2009 Posted April 7, 2009 QUOTE Been looking at remortgaging recently. House was valued in November - £140k. Revalued Jan - 140k. Revalued Last week £144k. I never trust valuations for a mortgage. The true value is what someone will pay for it. I'm currently (trying to) move and most estate agents are saying "interest" is increasing but at the moment it's just that and not offer's / sales. Quote
samcooke Posted April 7, 2009 Posted April 7, 2009 QUOTE I'm currently (trying to) move and most estate agents are saying "interest" is increasing but at the moment it's just that and not offer's / sales. S'alright round here (east anglia) for now. Our 5 offices did an average of 28 deals in March, against 19 in Feb and 13 in Jan. 7 of these 142 sales were in excess of the guide, from a charming council house at £120k going to £138k (15 competitive offers) to a posh old terraced thing in Cambridge making £50k over its £1m guide. Price it right and choose an agent that's awake and you'll sell. Even scruffy's just bought a house. Quote
Scottish Bloke Posted April 7, 2009 Posted April 7, 2009 Can I uncross my fingers yet ......... OK still crossed Quote
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