Ridiculously entitled baby-boomer complains that she can't sell her £1m home

[ScoTTyBEEE]

What's the point of paying to get a valuation done, then?

Nobody pays for a valuation. You phone up multiple estate agents, they come around, wander about and pull a figure from their arse. They then add 20% to this figure and your job is to sell your house with whoever quoted the highest.

This has worked, especially in London since around 2010. However, we're in a brave new world that anyone under the age of about 25 has never experienced (short of a couple of years of very small falls) and that's called houses FALLING in value.

On the continent estate agents will come around, measure all the rooms and work out the price per sq.ft and this gives you a good basis for the properties value in that area. In the UK it's just made up based upon whatever has sold recently in the area, higher prices just lead to higher prices and it keeps going until something snaps, then starts working in reverse. We're at that reverse, and estate agents will never have experienced this situation and won't know what to do.

Transactions have absolutely bombed. Far fewer people are moving home and estate agents have remained solvent with rentals and charging exorbitant fees for tenant checks. When these are abolished in the near future they will be relying far more on actually selling houses and instead of the old quoting at max +20% they will have to start being realistic as they will NEED those houses to sell.

 

[balky12]

Meanwhile both myself and girlfriend registered nurses can't afford a house, these entitled baby boomers really **** me off.

Not easy for first time buyers but do-able. Where you looking?

 

[dowie]

Meanwhile both myself and girlfriend registered nurses can't afford a house, these entitled baby boomers really **** me off.

Have you looked into any key worker schemes or just straight up affordable or shared ownership housing schemes? I remember a while ago when I first looked to buy, I found there were a bunch of really attractive schemes I wasn't eligible for, for example I remember seeing a ridiculous bargain at the time (2012), a brand new 1 bed flat at the old royal arsenal at Woolwich for like 180k plus they'd give you 10k towards the deposit. (obvs prices have changed a bit since then)

 

[Hotwired]

our inability to sell and move

Yet another example of why people should not be given direct votes on anything important.

Everyone has some selfish BS in their mind but is rarely held to account for it.

 

[Destination]

It's her pension of course she is going to want to maximise the sale, I would hope to be having similar complaints when I reach that part of my life as should anyone else rather than expect to be supported by the rest of the population in later life.

Or be partially supported by the contributions you have made for the duration of your working life, given that stat will be 68, 69 or 70 for many on here.
I'll be irked if some gimp of a politicians writes out my stat pension closer to my retirement. It won't be the main pension, but it will be a factor.

 

[200sols]

Yet another example of why people should not be given direct votes on anything important.

Everyone has some selfish BS in their mind but is rarely held to account for it.

********? What you mean is.... you don’t like it if people don’t agree with you.

 

[balky12]

Yet another example of why people should not be given direct votes on anything important.

Everyone has some selfish BS in their mind but is rarely held to account for it.

Surely everyone votes to better their personal lives? Why wouldn’t you?

 

[Luckystrike123]

I couldn't be bothered to read the whole article but it does make a good point about people pulling out and leaving you to pay fees.

This happened to me (as a buyer) but fortunately I had insurance. I think the law should be changed so that the party responsible for collapsing a chain is either fined or is liable for third party fees.

 

[Entropy]

I couldn't be bothered to read the whole article but it does make a good point about people pulling out and leaving you to pay fees.

This happened to me (as a buyer) but fortunately I had insurance. I think the law should be changed so that the party responsible for collapsing a chain is either fined or is liable for third party fees.

It would be difficult to police and could lead to people being in undue pressure to sell or purchase.

 

[ScoTTyBEEE]

It would be difficult to police and could lead to people being in undue pressure to sell or purchase.

Works in Scotland.

 

[D.P.]

Surely everyone votes to better their personal lives? Why wouldn’t you?

No, selfish people vote to better their own lives. Others vote for a better society, environment and future

 

[Sparky__H]

If you can afford a £1m+ house you can afford to be picky.

43,750 is less then 5% of a £1m house so I seriously doubt that's the problem.

If the house is not selling at £1m then its not worth £1m.

Also if we are going to start slapping £10k fines on people for pulling out then there needs to be a penality for "Chain Free" sales with chains a mile long.

No, selfish people vote to better their own lives. Others vote for a better society, environment and future

People will also vote to spite others. Even if it ends up hurting themselves.

 

[Hotwired]

What you mean is.... you don’t like it if people don’t agree with you.

Surely everyone votes to better their personal lives? Why wouldn’t you?

Whos going to vote for raising taxes or losing subsidies.

So who's going to raise the taxes and redistribute subsidies if it's not popular.

The way we generally do this is to vote in people to be responsible and accountable on our behalf.

A direct vote from the population leans heavily on whatever is popular and holding the population to account for incompetent decisions is farcical. As we can see.

 

[Spook187]

Another scam story that seems to be getting on his nerves because he can't afford to buy in London, move away then job done, you have a good deposit so use it elsewhere, we will still here when you're 55 still trying to buy in London because you can't afford it simple as.

 

[ttaskmaster]

NVM

 

[balky12]

No, selfish people vote to better their own lives. Others vote for a better society, environment and future

Let me guess, you have always voted to better society first, it just convieniently aligns with bettering your life, with no negatives?

 

[chrcoluk]

why didnt she pay the tax for the first buyer, or accept the second offer?

self inflicted wounds caused by greed.

 

[Scam]

I'm no expert, but house prices don't generally increase almost ninefold in about 5 years, without someone tarting them up...?

I don't know where you got ninefold in 5 years from? You've confused me to be honest. Her house almost doubled in 8 years right? And it's completely indicative of properties in the SE, flats anywhere in greater London have been going up £30k/year if you do the maths. It's not unusual.

Edit: Another example. Apparently house prices in Manchester reported the highest rises in the country for 12 months - June 2017 to June 2018. So if you're in a £250k property in Manchester that's £17.5k/year. Probably more than a lot of the population up there.

 

[mattyfez]

If you can't sell your house for a million quid, there's a very simple reason for that.

The reason is it's not worth a million quid.

It's called a free market.

A house (or anything) is only really worth what a real live buyer is prepared to pay for it.

 

[Amp34]

Hey, I totally agree and I understand the point she was (really badly) trying to make. I'd like see the abolition of council tax as well, and see a Land Value Tax come into force. Everyone pay a percentage of the value of their home. Would certainly help stop the boom and bust we've seen in our property market, would especially stop the massive bubbles.

It doesn’t work in other countries that do the sam, why do you think it would work in the UK?