Rcession

[benmorg]

Jeremy Wrote:

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> Several places have sold recently in the area,

> including a place I was watching on Oakhurst

> Grove. It's just a question of pricing your

> property realistically. However, the agents

> presumably want to keep prices as high as they

> can, and seem to be marketing properties at prices

> which they will never possibly acheive.

Agents aren't responsible for setting unrealistic prices - it's the vendors. They look at similar properties on rightmove (inevitably browsing all the overpriced stuff that hasn't sold) and set their prices accordingly. Result: they end up stuck on the market as well. Only those vendors who undercut the competition are getting sales. Agents are now in the business of talking down prices in order to get things moving, as they're much more interested in maintaining volume of sales rather than prices. Though saying that, there are doubtless a few agents who encourage silly pricing in order to get the instruction, only to let the property languish on the market for six weeks or so before telling the vendor they need to cut the price by 10%.

Some places are selling at the moment, but only if they are priced low or the vendor has no choice about moving and has to accept a low offer. In a housing market crash, people keep buying all the way to the bottom of the cycle, but prices fall anyway because there isn't enough demand to erode the growing supply.

[macroban]

An educated friend tells me this is following the K?bler-Ross model.

[clive3300]

macroban Wrote:

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> An educated friend tells me this is following the

> K?bler-Ross model.

So paraphrased:

Denial:

Example - "It will be fine, the house will sell easily"

Anger:

Example - "Why me? Why couldnt the crunch have happened a few months later!"

Bargaining:

Example - "Just let the market hold long enough for it to sell at the right time"

Depression:

Example - "OMG I am going to lose so much that I didnt have to"

Acceptance:

Example - "Oh sod it, lets sell at any price"

[jollybaby]

So selling a house in 2008 is now comparable to facing death - maybe they should be offering counselling at Foxtons.

[Bellenden Belle]

Does anyone have any suggestions as to what kind of commission deal can currently be struck with estate agents in East Dulwich when selling houses ? An advisor on the radio last night was suggesting people should negotiate for 0.5% of selling price! Can this really be so?

About 1 per cent feels about right to me.

What do others think?

[snorky]

better to get 0.5 % than 0.0%

You dont have to be an Oxford grad to understand that.

Tell them this is what you want to pay & see what they say

[AcedOut]

I negotiated 0.75 for an exclusive deal.

[louisiana]

House for sale on Barry Rd with DV, @ 1.15 million: 'We are honoured to offer...'

[Mrs Iggy Pop]

I'd like to sell my 3 bedroomed house (+ a study), if anybody would like to buy it for ?650,000. It is very nice - even the Estate Agents said so.

A couple of weeks ago, we had 8 houses to sell on our road - all of which have been on the market for several months.

One of my neighbours has dropped theirs from ?750k to ?700k but still no-one is interested.

Estate Agents told us to gratefully accept an offer, or sit still for at least 2 years.

[Keef]

Tenner and a couple of pints?

[savage]

Mrs Iggy Pop Wrote:

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> I'd like to sell my 3 bedroomed house (+ a study),

> if anybody would like to buy it for ?650,000. It

> is very nice - even the Estate Agents said so.

>

> A couple of weeks ago, we had 8 houses to sell on

> our road - all of which have been on the market

> for several months.

>

> One of my neighbours has dropped theirs from ?750k

> to ?700k but still no-one is interested.

>

> Estate Agents told us to gratefully accept an

> offer, or sit still for at least 2 years.

hi, i've sent you a personal message

[Asset]

?650k for a three bedroomed house!!!!

What is it a Georgian effing grade one listed building in the heart of the Village. Having a laff aren't you?

[Asset]

Let's see some pics.

[macroban]

With the introduction of the Heritage Protection Bill 2008, "listed buildings" will soon be known as "Heritage Assets".

[Mrs Iggy Pop]

I have no idea what an effing grade one refers to, nor do I know whether I have had a laff or not. Perhaps you could enlighten me on both of these terms.

[*Bob*]

?650k isn't out of the question for a 3 bedder. But it would have to be a top of the pile, creme de la creme, absolute dogs nuts of 3-bedders. Otherwise..

[Jeremy]

Yeah... sounds like a lot to me in the "current climate", etc. There are some pretty nice looking 3 bed places on at around the 500k mark.

[macroban]

I've seen a Haart "SOLD" sign in Underhill Road.

[macroban]

Top tips for selling a property in East Dulwich.

[mamafeelgood]

wow, i am still staggered not at house prices ... but by the fact that people like kirsty and 'what's his face, not son of the rich family' are paid to tell people the bl**dy obvious about selling a house. keep it clean?? decorate?? look smart ... what is this a degree in estate agentology?

[lard]

What is more laughable is Kirsty and Phil's current crusade against stamp duty, using it as a reason people aren't buying at the moment.

What they fail to remember is that stamp duty didn't stop people buying last year when prices were just as high.

They argue a price fall is bad - when in reality the stamp duty of 1% can easily be "saved" by a price reduction of only 1%, so a 20% fall is much more beneficial for first time buyers than the scrapping of stamp duty.

If anything stamp duty should have been raised much higher 5 years ago to stop the ridiculous price growth.

Plus foreign nationals paying an additional 20% or suchlike in stamp duty.

Their maths is quite staggeringly upside down, and such a vested interest it shouldn't be allowed on television.

[SeanMacGabhann]

lard is new

I like lard

[Brendan]

Or doubling stamp duty on each additional property you buy, going up exponentially.

But that may have stood in the way of so many MPs and local councillors building up their little buy-to-let empires.

[*Bob*]

We did view a comedy house in ED before we bought. I almost laughed in their faces.

Bowls of pot pourris everywhere.

'Best of classical Music' playing (free with the Daily Mail, I suspect)

Scattercushions angled to perfection.

Mario Testino on the coffee table.

My favourite was a bowl of fruit - in the bedroom

[lard]

Brendan Wrote:

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> Or doubling stamp duty on each additional property

> you buy, going up exponentially.

>

> But that may have stood in the way of so many MPs

> and local councillors building up their little

> buy-to-let empires.

Exactly. There are so many ways that would be a fair stamp duty system which works on the basis that people only need one house to live in.

As you say, too many noses in too many troughs. Oink Oink.