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House Price Crash Forum


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Everything posted by yourfriendlyestateagent

  1. Mr Moon I cant take any thread of your seriously after your intellectual thrashing on the other post. All I am doing on here is offering an honest take on issues that some of the regulars may have no real understanding of. I have a vested interest in prices coming down as my children will be wanting to buy a house at a fair price at some point in the not too distant future. The fact remains that some agents will feel it is their duty to inform their vendors that they have a serial low offering 'buyer' on their hands, often to save wasting their clients time. You have to deal with reality
  2. Your reply is littered with errors and paranoia, I suggest you get out more.
  3. Ignore the dreamers that suggest silly offers, you will just make yourself look stupid and the agent wont want to work with you in future. The only possible reason the vendors would sell for less than they paid is if they HAVE TO. If their situation dictates this then they may take less, My experience tells me that the figure would be in the low thousands not the 10's of thousands. If you like the house then someone else no doubt will too, and that person may well be prepared to pay a fair price for it. Bear in mind whilst the overall market has dropped 10% good properties in good areas hav
  4. The only site that actually advertises repos is whitehotproperty.co.uk however it is limited to the stock of that firm (a packaging firm for repo's and p/ex on behalf of some lenders. The best advice is to get in with those agents that regularly sell repossessions (usually the corporate firms) and make sure they know you have funds available at the drop of a hat, and of course can view quickly (day time only - repos have no power). By the time cheaper properties have hit the internet they could well have sold as good agents will have a list of hot buyers that will be ready to view. Always bea
  5. It woiuld appear you have a strange way of looking at things, i too read the opening post in the same way as mildura. The agent was giving a choice, and any complaint would not get anywhere in this situation. Like a lot of corporate agents cw/be have a repossession division and palm out their clients repo properties to their local brances to sell, under a fairly strict criteria on the instructions of the bank. The banks always require the repo company to have a high level of checks on buyers. All the agent is doing is weeding out the chafe by getting this out the way at the outset. Most of
  6. This is absolutely not the case in most areas. Very few agents include 'ready willing and able purchaser' in their contracts these days. The press/authorities have over time ensured that this clause has been hounded out of agents agreements thus giving more vendors the ability to shaft buyers without any penalty. If you read up on this you will see that this clause was deemed to be unfair, unreasonable, and even potentially ripping off clients. Shame.
  7. Excactly - without exception. Where there is any form of charge over a property nothing can be done to transfer ownership until the persons/entities with the charge have been satisfied. We have seen a few occasions where sellers (some btl) have tried to sell at a loss, and the bank have prevented the sale as they will not recover the mortgage debt. In one case the subsequent repossession meant it eventually sold for over 15% less that it would have done, excluding costs etc.
  8. Why does the behaviour of one incompetent agent in one office suddenly merit all estate agents being labelled with your generalisations. Please see Lauras quote for the correct way to address this issue. You have one person who has failed in their duty, not a whole profession.
  9. Property in Gt Miss, put on at highest price for street, sold within a month. (400k+)
  10. The press likes to give the impression that those who use p's services are seedy and socially inadequate. Of the blokes I know/have known that indulge(d), they tend to be the more capable at attracting girls, indeed they are often people that see sex as very much a leisure activity like you or I might enjoy working out or going to the cinema. In Spain/Portugal they have a very relaxed attitude to this business. One can visit bars full of girls, where after a drink or two the couple slip off to one of the rooms laid on. This does however create problems as a lot of married men succumb to tempta
  11. That is a different matter. In a rising market this policy often paid dividends. Now most agents are torn between giving a correct valuation or being told were to go by unrealistic vendors. Some agents deliberately have a policy of going high to try and win instructions, and some genuinely make a mistake and give the wrong (high) price where there are no decent comps. For realistic valuers it is tough out there at the moment. A bugbear for agents like me is losing instructions purely on valuation. But even those agents that play the overvaluing game, know that their negs are going to have
  12. With all due respect I think you lot are guilty of overplaying the relevance of Propertybee to Estate agents. I doubt most use it or even know of it. Even those that do, care not whether the public follow prices, as most agents are spending their time trying to educate vendors as to the simple answer to the current property stalemate. Simply, agents play about with Rightmove to keep their competitors from knowing too much about what they are up to, rather than to confuse educated buyers/propertybee'ers. Some of you lot think there is a massive conspiracy to keep prices high out there. Agent
  13. I wont dispute there may be an element of truth in what you say, but you kind of invalidate your point by contradiction. How can your mate be 'in the property game', if he got out TOTALLY in 2007. I am IN the property game (pretty deeply) and I can say in my experience we are not all desperate, people are out there buying and prices may well stabilize this year, although if transaction levels continue to rise I have no problem with prices continuing to slip.
  14. Instead of your smarmy attitude to fees to enable you to profit from your wonderful projects, why not sell it yourself? The fact that you are wrong is beside the point, (it is the estate agent getting the houses to the largest market that creates the profit). Why else do the shrewd investors use the agent they assume to be the best irrespective of fee?
  15. If this were true why on earth do you think the banks are in such a mess now.
  16. wtf is the bloke doing the the viewing for in the first place? If its an enhanced service option then absolutely you should not be there. Agents, vendors and buyers in one place dont mix. Simple.
  17. Correction; $500 per month. Our benefits system is way to generous to allow this.
  18. You have the final quote the wrong way round imho. For every one seller that MUST sell there are 10 vendors that will not budge on price and will 'sit it out'. The amount of potential sellers I see, that, when hearing my valuation trot out classics such as 1) Well, were not in any hurry 2) We dont have to sell 3) We might as well wait then until the market gets better 4) The other agent(s) said 20k / 30k / 40k / 60k / 80k more... 5) That cant possilby be... 6) The one down the road is on for 70k more and is in worse, etc, etc. Believe me these idiots are the vast majority. The only prop
  19. Sub lease, yes, a while ago. Nice to hear of some come-uppance. I now summise that those behaving in this way are so very desperate because the alternative to their brutish behaviour is their own demise.
  20. I dont think so, I took on a lease assignment from them and had them as the enforcer in charge. Rent 2 weeks 'late', baillifs and threats. Smarmy idiots justified this behaviour because 'they could'.
  21. As predicted by yours truly, this is excellent news. Their bully boy tactics as a commercial landlord were always going to come back to haunt them. Brilliant.
  22. These figures do not reflect my experience. Might I suggest girly girly puts aside a few thousand pounds for the clawback when it occurs. Common sense/experience tells me you get the interest part of your mortgage at BEST. (and this is now capped). You certainly dont get more.
  23. In fairness to the above, this is being played out to some degree. We have recently dealt with repossessed houses that have sold for 30% and nearly 50% less than their purchased prices (in the last 3 years). Auction sales are up to 50% off. What we arent seeing are those sort of drops from the general public. Those people who have brought in the last 3 years and need to sell have been giving their houses back to the bank once they realised selling would equal a negative situation (2 recent examples). Those that have 'equity' (owned for more than 5 years) are generally holding out. In the
  24. Read properly it is quoting over 3 MONTHS. Thats 9.9 sales over 3 months ie 3.3 sales a month. This sounds realistic. If the companies stock is around 70 (small-medium in peterborough) then 9 in a month is good, but could be down to a number of factors, and one month really isnt worth taking any notice of. No doubt the rental is in a dive like goldhay, or new england? Any price above £200 a month isnt worth paying in Peterborough.
  25. There are a few factors to consider. Is it priced as a repo? I.e. does it look v.well priced when compared with the competition (usually around/at least 10% off - condition dependant)? If the price is already set fairly dont expect to take too much off, sensibly priced repos can often end up selling for more than asking. How long has the property been on the market? Usually repo's will work on timescales and very little discount is given in the first 4 weeks, as time goes on the price can be adjusted, or lower offers will be considered. If its been on a while make a cheeky offer, they will o
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