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House Price Crash Forum


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About nicjamco

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    HPC Poster
  1. Thank you! Unfortunately the majority of estate agencies are large corporates, with a high turn over of under trained, over worked, misguided an under paid staff who are set ridiculous targets that they will never meet, subsequently the quality of service is appalling, you generally will have to chase them for the feedback from viewings, and updates on the progression of the sale...... others have a progressing team who get paid a fixed salary and though the viewings went smoothly and negotiations went well the sale can become extremely stressful having to chase some one who has no drive in getting the sale through quickly, and on time. Thats why we have a number of agents pulling out any trick to get the market rolling they have been bread like battery chickens and institutionalised. Again these are also those particular agencies who rip of old men and woman, and sadly this is the same the world over.
  2. Before I return an insult, do you have inside information about the property market Globally (i.e. have offices in different countries along with a portfolio of property, financial institutes set up.......)? Any stocks, shares..... basically any real clue other than what you have read? I can see exactly what is happening and have first hand knowledge, I am here to discuss matters which are important not to be insulted by idiots like yourself who have nothing better to do than talk dribble. Either get with the game plan, or bugger off is all I can say!
  3. We should arrange for them all to meet, there is also an accountant in North London called Ivor Stiff, two police officers in adjoining villages in surrey called PC Roger Shufflebottom and PC Dickie Day.
  4. Sadly the same cannot be said for surrey solicitor Hugh Gentry.
  5. Desperate is an under statement, there are far to many of us for a start, for example the area I work in back in the 80's had only three estate agencies and they all struggled then, now there are a minimum of 25 offices in the same area with god knows how many on the doorstep?
  6. Sounds like a good idea, the problem isn't lack of stock it's the lack of buyers (obviously), if you press all the right buttons EAs will hold on to you and treat you like a king, be hilarious.
  7. Evening, Good question but there is no real answer I'm afraid, the market is in more turmoil than possibly ever before, however it doesn't mean that the people who got us in to this mess won't get us on to the road to recovery, it is going to take a long time to correct, many people will suffer as a consequence, as expected. All I can suggest is to ride it out the best you can, if you are confident that the market has bottomed then you could consider buying but do realise you may have to sit on it for a number of years before it will become a sound investment, otherwise wait until prices pick up from the recession as you will know by then they won't be coming back down for sometime. I hope that helps.
  8. Hello All, As an EA myself I am disgusted at what you have told me! They are shocking! They can be reported to the OFT and NAEA if you can be bothered. The market as we are fully aware is in direr straights, worse I believe than back in the 70's and 80's at least people where not borrowing more than 2.5 to 3 times their earnings compared to an average of 8 times now, and where saving a minimum of 18% of their income compared to errrrr emmmmm, you get the picture. Other than that a good few million are about to leave their fixed rate mortgages over the next six months with an average MINIMUM borrowing of 150k at 4.5% which equates to £890 per month on an interest and repayment mortgage to find a 7% deal costing them roughly £1400 per month. F me.
  9. Good morning, Amazing to think only last year there where 850,000 buy to let properties purchased alone (which equates to roughly 70,800 per month), a similar amount of private purchases where also made totaling some 142,000, however in estate agency as in any business there are good months and bad and therefore most calculations are are based upon an average, therefore 142,000 would in real term be almost double that figure, October is generally the last of the busiest months. Now we would have thought that this is purely due to the fact people are seriously concerned about the state of the market, high intrest rates squeezing at our affordability........ But there is something not taken in to account which is hardly if at all publicized enough and that is most lenders cannot afford to lend, I have seen many people speak to their financial advisors, put in an offer on a property, the solicitor is instructed and survayor is booked, so a lot of money has already been spent. Eventually the survay in most cases comes back down valued by quite a substantial amount, now I'm not saying I don't agree that properties are hughly over valued, but based upon actual selling figures (still over the top) they are down up to 20% even though next door and opposite still achieved more only three weeks prior. The reason for this is lenders are afraid to seem to not be lending (therefore do a Northern Rock) though in most instances they cannot afford to anyway, also the majority of mortgage applications are too high risk for lenders, as fewer people have a deposit to put down and are generally already at a streatch. There have also been a growing number of mortgages which have been withdrawn by the lender days after exchange of contract which is pretty much unheard of, I don't know actual figures but I do know it's within 2 million over the last six months. What is to become of lenders if their money/resorces to fund has pretty much dried up. And how is it going to affect Joe public over the coming years?
  10. The name could be changed to: Who Represents? - www.whorepresents.co.uk Invulnerable People anywhere - www.ipanywhere.co.uk or Publics Tools - www.publicstools.co.uk
  11. Unless you are a cash buyer at the bottom end of the market coming out of reccession then there isn't ever a good time to buy, who wants a burden for at least the next 25yrs. People have to move for jobs, kids schooling......, the difference now is that we can not afford to be greedy, really we couldn't have afforded to be greedy from outset, thats why we are in this mess. We can just sit around and wait but life does go and people have to be places etc. the difference is they want a home for what it actually is a home not an investment (though one day it will be), people have to reasses their finances and weigh out what they need not what they want.
  12. Buy property its as safe as houses? I would say we are not even close to the middle as yet, wait and see what happens after Christmas with these Try to Leters along with the change of capitol gains tax on 6th April, and pretty much everything else which is starting to bite away at our incomes.
  13. I'm Fuzzy Bear. Fuzzy wuzzy was a bear, Fuzzy wuzzy had no hair, Fuzzy wasn't Fuzzy waz he?
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