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Capitalise On House Price Falls

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An old article from 2008? Nope posted today.

With thanks to Brit1234 from MSE (whoever he is in here?)

http://www.lovemoney.com/news/make-good-property-decisions/house-prices/capitalise-on-house-price-falls-5215.aspx

House prices are predicted to fall for the rest of this year- so if you’re looking to buy, what should you do?

You can almost smell the fear.

Rightmove, the property search website, has predicted that all of the increases in house prices seen so far this year will be wiped out by the end of the year.

It claims to be registering more than 30,000 new properties each week at the moment – an increase of 45% on July last year – and says the number of unsold properties per agent rocketed by 25% in the first six months of 2010.

Surveyors are witnessing similar movements in the market, with 5% more surveyors reporting a fall rather than a rise in buyer enquiries in June, and 27% more surveyors reporting a rise rather than a fall in new instructions from sellers – the highest level since May 2007.

Could this be the start of a double-dip in house prices – or just evidence that speculative sellers are putting their homes on the market, following the abolition of home information packs?

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You capitalise on house price falls by not buying one

(at least until the the falls are tailing off)

Silly article as usual

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You capitalise on house price falls by not buying one

(at least until the the falls are tailing off)

Silly article as usual

I like the smell the fear bit though :)

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I like the smell the fear bit though :)

The talk has turned to accepting falling house prices. They WILL now fall. Mortgage restrictions will now see that they do the same as in 1991-4. It is 25%-40% down here we come.

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A little anecdotal... had a dental check-up yesterday, was talking to the 20-something receptionist and she mentioned she had her 2 up 2 down terrace house in a small village 1 hour 20 minutes north west of Swansea - former mining village.

Has had it on the market now for 170K - claims it was a wreck when they bought it for 140K, which is probably true in the village she lives in, and that she and her hubby have basically gutted it and modernised. Has had it on the market for 6 weeks and no interest at all.

Anyhow, with no mention from me of HPC or anything to do with housing, she said they were going to drop their asking price as they preferred a quick sale to get out sooner than later. I asked why and she told me that she has been reading financial article on various property buying sites about a big crash coming between November and January. She felt loads of people would be left with negative equity.

So, for a 20-something she pretty switched on. I wonder if the fear is beginning to become the norm rather than the denial.

She could not recall which websites she had read about a coming crash on other than they were property buying websites.

Edited by The Masked Tulip

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That's encouraging.

What surprises me though is how HIPs were used as the excuse for a falling market. How much did HIPs cost? It surely wasn't a lot. Not enough to stop someone buying a home they needed anyway.

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That article made me laugh.

"If the estate agent and seller think you are being reasonable or have justification for offering such a low price, then you stand a far greater chance of getting your offer accepted than if they think you are taking the mickey."

How about just offering whatever you want and to hell with the agent (he is just that, an agent and is not at all important), and also tough if the seller thinks you are taking the mickey. We seem to forget who is the buyer in these situations and the seller can decline an offer, but thinking someone is taking the mickey is emotional so they need to belt up. The buyer is in the driving seat, simple.

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That article made me laugh.

"If the estate agent and seller think you are being reasonable or have justification for offering such a low price, then you stand a far greater chance of getting your offer accepted than if they think you are taking the mickey."

How about just offering whatever you want and to hell with the agent (he is just that, an agent and is not at all important), and also tough if the seller thinks you are taking the mickey. We seem to forget who is the buyer in these situations and the seller can decline an offer, but thinking someone is taking the mickey is emotional so they need to belt up. The buyer is in the driving seat, simple.

I was told yesterday by some EAs that their boss refuses to drop his asking price valuations because it looks desperate.

To me this is akin to Sir Stuart Rose not letting me buy a M&S sarnie.

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  • 149 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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