House prices - monster doom....

[Wilmslow]

A year ago my house would have sold easily for £240K.

Now up for sale at £230K, estate agents advise £205K to have a chance of sale.

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

House I really want to buy is a lovely detached bungalow - one up the road (in much better interior condition) sold for £320K. The one I want to buy was £280K, now £260K meaning £250 with the stamp duty threshold.

Utter madness!

[Fred Bloggs]

A year ago my house would have sold easily for £240K.

Now up for sale at £230K, estate agents advise £205K to have a chance of sale.

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

House I really want to buy is a lovely detached bungalow - one up the road (in much better interior condition) sold for £320K. The one I want to buy was £280K, now £260K meaning £250 with the stamp duty threshold.

Utter madness!

Everything's fine as long as the cut goes all the way down the chain. Where's the issue? Maybe one day my kids will be able to buy a house as long as the price falls keep going.

[Cyberman]

Everything's fine as long as the cut goes all the way down the chain. Where's the issue? Maybe one day my kids will be able to buy a house as long as the price falls keep going.

If we wait another year we will be able to buy one and get one free!!

[stackpole]

Everything's fine as long as the cut goes all the way down the chain. Where's the issue? Maybe one day my kids will be able to buy a house as long as the price falls keep going.

Your main point is sound Fred - the bubble has to burst to put sense back into the market.

But there is an issue - the bigger the house, the more you lose.

A £100,000 hovel losing 20% will only cost you £20,000, but the £400,000 property you want to move up to reduced by the same would lose the vendors £80,000.

[Wilmslow]

Your main point is sound Fred - the bubble has to burst to put sense back into the market.

But there is an issue - the bigger the house, the more you lose.

A £100,000 hovel losing 20% will only cost you £20,000, but the £400,000 property you want to move up to reduced by the same would lose the vendors £80,000.

This is my issue.

I am wanting to upgrade - albeit by just £50K, but, will be a pinch should prices continue to plummet.

Saving grace is worst case mortgage at £130K, and buying for £250K, so would take a lot to get my into dire doo-dah. Then again, if prices were not plummeting I would not be looking at a detached in Wilmslow (no ex contractor turned permie humour, please!!)

Just a case of price crashing mine, and hoping I get the house I want!

[Bumfluff]

Mine is on the market, estate agent said put it up for £399k, but I don't recon I could even get £340k for it at the moment if that. A couple of houses down a young couple bought a place for £387500 last November, the house next door which is the same is now up for £320k !!! Another house round the corner was up for £469k in Feb they got £405k in the end !!!

[VectraMan]

One house up Altrincham road should be worth £250K, now up for sale at £200K, seller will take £180K!!!

Why should it be worth £250K? You're making that judgement on bubble prices. From the amount it's dropped, it probably should be worth £100K.

[Lockhouse]

Our house is going on the market in a couple of weeks - we're planning on selling up and going into rented for now. Not too worried about taking a hit as what we're planning to buy is also cheaper. I've also had a flat on the market since January - I'm going to pull that and re-let it as it's dead money empty and we've had no interest.

It's all relative - we sell for less but we buy for correspondingly less as well. Nothing's going to happen in the property market for a couple of years at least so our equity earning interest is a good move for us right now - as long as we can sell. It'll pay our rent and then some.

[ThomasSoerensen]

If we wait another year we will be able to buy one and get one free!!

already done

http://bigpicture.typepad.com/commen...ornia-buy.html

[BlasterBates]

This is my issue.

I am wanting to upgrade - albeit by just £50K, but, will be a pinch should prices continue to plummet.

Saving grace is worst case mortgage at £130K, and buying for £250K, so would take a lot to get my into dire doo-dah. Then again, if prices were not plummeting I would not be looking at a detached in Wilmslow (no ex contractor turned permie humour, please!!)

Just a case of price crashing mine, and hoping I get the house I want!

That's exactly it Wilmslow, if you buy the bigger house at the bottom of the cycle you then reap in a big profit quickly when the recovery starts, so evening out losses on your original house.