Live: Answering your questions on house prices and negotiating tactics.
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- čas přidán 27. 04. 2024
- Catching up on your moving questions.
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Looking at the state of some of those homes in the uk, the asking price doesn’t only offend me, it deeply disturbs me 😂
Yep some really are in a state. Avocado bathrooms and all that...
i just went to view a bungalow that needs complete refurbishment and I mean complete refurbishment. I do not even know how they are living in that state @495k complete joke.
@@naeedaafzal3055 Offer them 70K. And remind the agent that they have a legal duty to pass that on to the vendor. It will at least sow seeds of doubt in their mind and they will slowly come back down to reality on the price.
Excellent insights and information 👏
People are saving ten's of thousands thanks to your advice Charlie. The market sentiment is changing big time people who are selling. Have started saying on viewings we're open to a offer 😉..😂
Over the next few months check out the data on people falling behind on paying their rent. The big problem for buy to let landlords at the moment is none payment of rent. This is running at over 10% of tenants for some small landlords. Two years ago the same landlords virtually hardly ever a had missed payment from their tenants. People are losing their jobs in London. Make of it what you want. By the way it's only a random sample of ten people I know who have 4 or 6 in London. All are suffering mortgage rates increases. And renters defaults going up at the same time. Interesting times ahead 🤔
Charlie is a busy person. Can't even wait for his tea to cook and too posh to drink from the saucer. He's certainly is giving a sense of urgency. Had six fall throughs on four properties including investors mainly over 12 months. A very jittery market.
* Tea to cool not cook.
I believe top to bottom will be around 40% never happened before. There's always a first time. You were the only one calling out what falls were coming. 2026 will be the bottom in my humble opinion.
I’m looking at 3 beds in the Oakham/Stamford/Oundle triangle. Many new listings immediately come on at £300k or thereabouts. Within a couple of weeks they drop. Some continue to fall over fairly quickly, others stick. One has been at the asking price since June 23. I’m still amazed that sellers (and EAs) are ignoring market conditions. It’s incredulous
The last bit was invaluable, cash buyers offers being ignored so that a mortgage can be sold to a buyer, just shared this with my boss whose cash buying at full price was rejected and he used a buying agent,eek!
Hello to everyone including Charlie. If anyone has any questions, I would be happy to answer.
We don’t know who you are or what you do Dar, can you tell us?
@@MovingHomewithCharlie Sure Charlie , I'm a economic geographical forecast researcher.
Sir,i have learned so much by just watching your videos...thanks mate!
My pleasure
Time to talk about how you're going to celebrate 20K subscribers, Charlie. 10K was a glass of champagne. I reckon 20K should be you and Alex reeling around out of your heads on spice. ;)
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😂🤣
Manchester Prices still going up in certain areas! It’s mental especially Didsbury, you can’t even get a viewing sometimes. Estate agent always do sealed bids, no negotiating.
It's ridiculously difficult in London at the minute, FTB here has two offers fall through as the seller/EA didn't declare accurate info about the leasehold details like service charge etc...
A lot selling at my budget £240-280k are BTL wanting to exit but they don't want to reduce their properties despite them needing a lot of work doing to them.
As that great philosopher Mick Jagger once sang " you can't always get what you want, but if you try sometime, you'll get what you need". I have probably made over a 100 offers on properties between 2004 and 2015 and succeeded 15 times. I viewed maybe 1000 properties. That's how you get to know a good price, know what you want and get those deals. It's sad to think about those near misses but the advice to get out and view is key. No bargain property will ever drop in your lap. That's not to say you have to get a bargain but there is a correlation between getting out and viewing and finding that perfect fit.
Great Videos and appreciate you as a content provider, but what I would love to see and I am sure many others is: a “what to do” step by step guide for a cash buyer … purchasing their very first property. I have been told and gather that this process is very much different from the people buying on mortgages. Charlie can you help please?? Many Thanks.
I recently bought a place with cash for my daughter. I do not think the process is very different. A few things I noticed:
1) Estate agents like you. I had no problem seeing every place I wanted to see.
2) If you want somewhere decent do not expect big discounts. Being a cash buyer does get you to the front of the queue but every low ball offer I made was rejected (and the property's in question did sell.) It is possible you can get big discounts on vacant crud that is not selling but that was not what I was looking for. And your area may be different from mine - even the beginning of Charlies 35% expected slide has not been in evidence where I live!
3) You can skip the stress of getting a mortgage and having mortgage valuations and downgrades but have to decide whether you want a survey (I did) and all of the searches as these become optional.
4) You have to get a large wad of cash to your solicitor. Sounds easy but what if you lose your bank card or phone the day before you transfer? I decided to transfer a week early - lost a fair chunk of interest but slept more easily.
The basics are exactly the same.
1) Get out and view. We saw lots of properties, You get to know the market well and become immune to the estate agent BS (In fact all but 1 EA I dealt with were absolutely fine. The 1 was a total dickhead and lied to my face but I enjoyed calling him out on it!) You will be shocked at how bad some properties with lovely photos are when you see them in person.
2) Try and avoid falling in love with the property before your offer is accepted. Really difficult for a first time buyer.
3) If you plan on living in the property (or any property) for a significant length of time do not get obsessed with price and value. If the right place comes along then will you really care if you "overpaid" by £5000 or so in 20 years time. Probably not - especially if you can afford to buy with cash.
Will do this soon.
@@MovingHomewithCharlie thank you ever so much
Trouble with being contract ready is that if you are in a chain not everyone else is. You can only move as fast as the slowest link .
Agreed, which is why selection of buyer is so important and what good agents do very well.
A really interesting case study in Derbyshire. A detached house we viewed in 2021 in a very sought after village. It completed in December 2021 at 410k ( zoopla). It's on at 475k unsold now. However, the work on it is extreme, an old person had let it go. We are talking quarter acre refenced, new kitchen, festering sheds demolished. On their site is brand new block paving for 6 cars. Derelict stable turned into 17' by 15' garage and workshop with roller door. They have created a new en suite to a bedroom, new internal doors, total redecoration, new bathroom. There is probably more.
Seriously I thought houses had gone up since 2021, but they must have spent over a 100k on it. Of course when this does sell, it will up the indicies even though the project looks like a gross loss to me.
I have seen similar in Cornwall. House purchased in Nov 21 for £410,000. Originally a three large bed (one downstairs as the old garage). Many decorative improvements and they've split one bedroom to make two (now making it a four bed). Garden sorted and over all a much nicer house. Back on last week at £410,000...... Ouch 😬
30k off asking in Bristol, that sounds good. In a part of Kent if offer under the asking price, agents laugh down the phone.
Last month got 25K off a 4 bed house in Kent. Loads of houses I looked at are reducing by 25K and still on the market
Some are some not, depends on area and promotion of that area. Seen 6 bed reduced today to 425k and it's a very nice house and area. If only others would follow to release the smaller houses to their market.
@@Abigail-sx8mt Where in Kent can you get a 6 bed for 425? Unless that's Bristol?. There's a lot of houses in Ashford where I was looking which are very over prices and no reductions for 6 months. Some are dropping by 20/25K and still not going.
Yeah that's called the East Kent effect, still sailing in the DFL pandemic market. Well this house sold today too. It's in Hawkinge Folkestone.
Let me just caveat that with can't usually get a house that cheap in that area, however maybe they've followed advice that Charlie gives, price it to sell, because they did still it.
Rates need to stay where they are…at normal levels.
Bloomberg TV are talking about 3 interest rate cuts in the US this year.
They’re also talking about rate hikes
@Jo Brown No, Annie's still waiting for that 35% price decrease, just like many of Charlie's subscribers. Imagine how disappointed she'll be if this expectation fails to materialise.
Anyone waiting is going directly against my advice. I realise that may be difficult for some people to understand 🤷🏻♂️
@@MovingHomewithCharlie That is because your advice is confusing. "Buy now BUT don't overpay" is your advice. If prices are going to slide 35% in the next few years how the hell do you avoid overpaying?
@@Leapops I have answered that question repeatedly in my videos. I know you’ve heard it. You’re being deliberately disingenuous now.
@@MovingHomewithCharlie Hey Charlie. I am not being disingenuous but I am genuinely curious. I really do not understand how someone who believes prices are going to fall 35% would even contemplate buying a property with borrowed money. It makes no sense to me at all.
You may think you have answered the question repeatedly but you have not answered it in a way that I can understand your logic. My logic (for someone buying with borrowed money) is if you really think prices are going to fall 35% nominal - so 50/60% real - then rent until they have fallen and then buy at the lower price in a couple of years time.
Clearly you are not a good listener. He actually did explain it. If you are in an area that is holding up better and you find a property that makes sense and you want to stay in it then it's not stupid to buy. It all depends on individual circumstances, area and the property itself. You cannot generalise. But in order to make the right decision you need to spend a lot of time researching and viewing.
Just change the channel to slurping tea with Charlie. Many more subscribers. To hell with house movers.