izzy Posted August 11, 2010 Share Posted August 11, 2010 Phoned an estate agent today to inquire about a property. The first question she asked me was, "Are you a cash buyer?" Apparently, they are compiling a list of "premier buyers" who have provided proof of capital. They are given first notice of repossession properties. She went on to say the mortgage market was dead. Bit of a change in sentiment since they last time I looked. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted August 11, 2010 Share Posted August 11, 2010 Phoned an estate agent today to inquire about a property. The first question she asked me was, "Are you a cash buyer?" Apparently, they are compiling a list of "premier buyers" who have provided proof of capital. They are given first notice of repossession properties. She went on to say the mortgage market was dead. Bit of a change in sentiment since they last time I looked. The mortgage market is dead once liar loans are off the menu? What a surprise. Wonder how much money will have to be stolen from others to bail out the liar loaners of the last two years, ont top of those from the bulk of the previous decade. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 11, 2010 Share Posted August 11, 2010 BBC Business site has a headline of mortgage lending up. Did the EA mention the possibility of price drops. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 11, 2010 Share Posted August 11, 2010 The mortgage market is dead once liar loans are off the menu? What a surprise. Wonder how much money will have to be stolen from others to bail out the liar loaners of the last two years, ont top of those from the bulk of the previous decade. silly boy..not LIAR loans...Mis-sold loans. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted August 11, 2010 Share Posted August 11, 2010 silly boy..not LIAR loans...Mis-sold loans. Maybe I was talking about the banks - they have lied all along about their duplicity in encouraging shit through their books onto other peoples' books and then on to the taxpayer - all under the eyes of the FSA BOE Quote Link to comment Share on other sites More sharing options...
izzy Posted August 11, 2010 Author Share Posted August 11, 2010 BBC Business site has a headline of mortgage lending up. Did the EA mention the possibility of price drops. When she asked what my budget was, the answer I gave her was about 30% below the asking price of the property I'd inquired about. She didn't skip a beat. Repossession properties going to cash buyers for 'highest acceptable offers' was how she put it. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 11, 2010 Share Posted August 11, 2010 Maybe I was talking about the banks - they have lied all along about their duplicity in encouraging shit through their books onto other peoples' books and then on to the taxpayer - all under the eyes of the FSA BOE Sorry, wasnt a dig at you....was meant to describe how the "victims" will be spinning how they were entitled to compo for taking on a mortgage beyond their means/ Quote Link to comment Share on other sites More sharing options...
bricor mortis Posted August 11, 2010 Share Posted August 11, 2010 When she asked what my budget was, the answer I gave her was about 30% below the asking price of the property I'd inquired about. She didn't skip a beat. Repossession properties going to cash buyers for 'highest acceptable offers' was how she put it. Well it would be nice if you could state the area and estate agency. Many thanks. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 11, 2010 Share Posted August 11, 2010 When she asked what my budget was, the answer I gave her was about 30% below the asking price of the property I'd inquired about. She didn't skip a beat. Repossession properties going to cash buyers for 'highest acceptable offers' was how she put it. Sounds like desperation... good stuff. Your area would be useful as we can gauge what the market is like - thanks. Quote Link to comment Share on other sites More sharing options...
shindigger Posted August 11, 2010 Share Posted August 11, 2010 You have my attention. Rough geography please. Anywhere near London? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 11, 2010 Share Posted August 11, 2010 Judging by izzy's other posts her expertise appears to lie in London leaseholds and spit-roasting I assume this EA is in the London area. Quote Link to comment Share on other sites More sharing options...
izzy Posted August 11, 2010 Author Share Posted August 11, 2010 Well it would be nice if you could state the area and estate agency. Many thanks. Don't want to state the agency but the area is central Essex. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted August 11, 2010 Share Posted August 11, 2010 Don't want to state the agency but the area is central Essex. Lovely! My area, not spoke to any estate agents recently though. Which town if you don't mind me asking? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 11, 2010 Share Posted August 11, 2010 Lovely! My area, not spoke to any estate agents recently though. Which town if you don't mind me asking? Why don't you two take this off-line? Quote Link to comment Share on other sites More sharing options...
buzzardo Posted August 11, 2010 Share Posted August 11, 2010 BBC Business shite has a headline of mortgage lending up. There. Fixed for you B Quote Link to comment Share on other sites More sharing options...
luigi Posted August 11, 2010 Share Posted August 11, 2010 (edited) Don't want to state the agency but the area is central Essex. Music to my ears, it's retirees from Essex that have been holding up the market in my local Norfolk town for the past year. I'm sure the conversation went something like this: "Look Doreen, ain't it cheap, that would be 'undred grand more back in Wickford" "Yeah Bill, if we get 5 grand off, we'll have bagged ourselves a real bargain, leaves us some money over to get a couple of stone lions either side of the front door and one of those lovely greek statue water features for the front garden, doncha fink?" Edited August 11, 2010 by luigi Quote Link to comment Share on other sites More sharing options...
New_Renter Posted August 11, 2010 Share Posted August 11, 2010 I have had the same sort of conversation this week with an EA. They called me to say they had Two repo's coming on the market in my search area. I said ok i will look at them one needs work and one is quite small. I mentioned that was interested in the run down one that needed some work but would make a low offer once they release the price. They came back with "I have plenty of investors looking at this property this week". I felt like picking up her computer and throwing at her head, i cannot stand that word, INvestor, investor, investor. I told her in a calm manner that this country would not be in this state if people treated their homes like homes and not investment. She then told me they price them 10% below market value so peopel can bid on them to which i responded with i wont be getting involved in any bidding. Its either lies or some rich people are very very stupid indeed. Quote Link to comment Share on other sites More sharing options...
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