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House Price Crash Forum

bazzzer

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About bazzzer

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    HPC Newbie
  1. Home owner for many years. Have seen mega rising markets and housing recessions. Involved in property development.

  2. has not set their status

  3. what is the big deal here? it is the law of supply and demand - if you do not want to pay a particular price for something then DONT it is your choice
  4. " A true barometer" Utter tosh and drivel! This is just one individual's opinion on one individual property. As it happens the Nationwide and Leeds in particular have been told to downvalue on any mortgage valuations at the moment. Halifax and Abbey also did the same but have recently changed their policy. Anyone buying a property needs to do their own research to establish their own opinion, also are you in this to buy a home or to make money? The last house I bought albeit, 10 years ago, I paid what I knew was 10k more than it was worth. My view was "so what" I was buying the place as a home not a financial investment. I have sold many properties where one surveyor has down valued it and where we have paid the buyer's survey fee for another lender who has then valued it at the sold figure. I have been involved in property over the last 30 years and in any market at any time properties have been down valued by surveyors who offer a subjective opinion. Whilst the people are supposed to be professional I know from speaking to them that they as normal human beings, have their own idiosyncracies. Valuations are often clouded by factors which as a buyer or seller we have no control over or knowledge of. eg. unprofessional as it is i know surveyors who will downvalue a property to scupper a particular estate agent who he has had a disagreement with ona personal matter, I know others who have a particular downer on a specific development etc. What is obvious is that for many different reasons there is currently a shortgage of supply relative to demand. Prices fell and have now moved up to the same levels they were at before the falling price levels reached the bottom. I have personally recently sold 3 properties at prices no less and in 2 cases more than I would have achieved pre the price drops. As someone who deals in brand new rental and sales units I know that theer is ahuge pent up demand for property to buy and we are increasing our prices every month. If peopel want to sit and wait for prices to fall again they are welcome, but they have probably missed the boat and should have bought when prices were at the lowest about 15 months ago.
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