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House Price Crash Forum


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Everything posted by red

  1. It's the only means they've known for years - and most vendors, I'd imagine, would plump for the highest valuing agent. How are they now supposed to win an instruction? When I first sold a place, I negotiated the EAs commission down to 1% - maybe this is the carrot EAs can use to lure vendors as valuations fall...
  2. The EAs dilemma now is to give an initial valuation that will secure the instruction - during the bull-run it was easy...just do a Foxtons and add 10% to the current valuation. Now they're having to think a bit bearish...
  3. Hmm. Interesting anecdotal from the comments, here:
  4. I couldn't agree more. If only the students would consider protesting about the amount of debt they're going to have to take on in order to buy their first property, they might think twice about rioting over student fees - relative chicken feed.
  5. More forced sellers. Most likely from a rise in IRs, rise in mortgage provider rates (even without rise in base IR..) or rise in unemployment. In my area (London N2) many properties now taken off the market, proving they were not serious/forced sellers. They'll try again at silly prices in the new year but unless we see more forced sellers created by factors mentioned above, I fear I'll be waiting a few years before being able to buy around here. No 'crash in progress' yet, I'm afraid...
  6. he's put on a bit of timber since that pic!
  7. Agreed. But what angers me is that the 'impartial' BBC regularly trot out this supposed 'expert' to ramp up the market with bold statements and predictions, completely unopposed. The drip-drip effect on the sheeple is that the 'experts'' words are gospel, rather than make them think a bit with a balanced argument / viewpoint.
  8. Boulger - '...people's expectations are that we have lower prices for a while but then they will drift up next year...'
  9. A meaningless figure in many ways - mostly because of such low transactions - but crucially, it sends the message to the sheeple that prices are dropping. Sentiment and all that...
  10. Let me know when you find a bit of land anywhere remotely decent for a reasonable price and I'll join you...
  11. Unfortunately, there's a big difference between wanting and needing to sell. We need to see a lot more of the latter to get things going...
  12. Because he, like the other desperate muppets who have posted in that comments section, are petrified that their 'hard-earned' equity is going down the shltter.
  13. Oh dear. Bob the EA is getting a little hot under the collar with some of the goading! Lovely stuff.
  14. -0.2% Followed by +0.6 from Halifax as they atone for their huge fall two months back.
  15. Crush chaos at Ikea store opening Several people were hurt in the crush as thousands flocked to the midnight opening of Ikea's newest store. http://news.bbc.co.uk/1/hi/england/london/4252421.stm Ah, memories...
  16. Yes - the market can sort of function without FTBs for a while...as we're seeing. But it can't be supported from the top down - it ultimately needs a foundation (FTBs).
  18. nah - it's just that swap rates are higher than a few months back and they're pricing in for further rises. the cheapest deal I found was a 2.19% tracker with HSBC...that's now edged up to 2.39% (and that's 60% LTV!)
  19. Overheard a couple of EAs queuing in my local supermarket (N2 London) - they were suggesting that business is effectively over for the year and has been for several weeks. They both agreed that there had been more business throughout November last year but this year had been dead. I can confirm that very little is selling around here with little quality stock (that isn't absurdly priced). I suspect that many 'unforced' vendors have withdrawn from market, presumably in anticipation of attaining their absurd asking prices during Spring Bounce 2011©™
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