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Friends currently putting their place on the market. Had visit from estate agent last week. This EA has 30% market share in my city. The assessor was one of the partners in the business so I've a little more confidence in believing the numbers (not that I wholly trust what EA's have to say!).

She said that house sales were as follows.

3 Aug

3 Sep

17 Oct

5 Nov (to date)

Maybe quieter until government spending review? Seems that things may have picked up a little recently or maybe the people who were holding off have now taken the plunge hence the spike. Many of the property sold was apparently very similar to my friends place. 3-bed semi or 4-bed detached in leafy suburb.

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Friends currently putting their place on the market. Had visit from estate agent last week. This EA has 30% market share in my city. The assessor was one of the partners in the business so I've a little more confidence in believing the numbers (not that I wholly trust what EA's have to say!).

She said that house sales were as follows.

3 Aug

3 Sep

17 Oct

5 Nov (to date)

Maybe quieter until government spending review? Seems that things may have picked up a little recently or maybe the people who were holding off have now taken the plunge hence the spike. Many of the property sold was apparently very similar to my friends place. 3-bed semi or 4-bed detached in leafy suburb.

Hi SM.

Did you miss some numbers off there (as in are they reporting periods or something, so p/e 3 August was x number of sales, p/e 3 Sep y number of sales (can't get the 17 Oct in that case,)) or are you saying they sold one house on 3 August, another on 3 September and so on?*

If it's the latter, I'm intrigued to know why they / you would describe one sale per month as a "spike." Unless the city of which you speak is St Davids :lol:

B

* And if it is the latter, do they mean "completed on that date," or one or more of the more esoteric ways that EA's tend to boast of their success (such as "Under Offer" "SSTC" "Got one of my mates to do a viewing, and make nice noises" etc etc)

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Great news, our young friends have SOLD their house.

they have also found a place to go to.

Sadly, they are taking the 6 times joint mortgage offer to do it.

I knew they would...they were terrified at first, but the draw of the better home and future profits is irresistable.

EDIT

Purely as an aside, and I suspect no motive on the part of the EA, but there never was a FOR SALE board on the property...but the DAY the thing was SSTC, a Board magically appeared. They were apparently too busy to put a board up.

Edited by Bloo Loo

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....Many of the property sold was apparently very similar to my friends place. 3-bed semi or 4-bed detached in leafy suburb.

And I'm sure the vendors of flat they visited next were told that many of the pick up in sales they've had were 1 bed city centre flats!

I think you're friends have read too much into EA salesman spiel.

The proof of the pudding is in the eating. See how long it takes too sell. I give it 50/50 they begging to change agents after 8 weeks. (unless it's realistically and competitively priced in which case there sales figures may be close to the truth)

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And I'm sure the vendors of flat they visited next were told that many of the pick up in sales they've had were 1 bed city centre flats!

I think you're friends have read too much into EA salesman spiel.

The proof of the pudding is in the eating. See how long it takes too sell. I give it 50/50 they begging to change agents after 8 weeks. (unless it's realistically and competitively priced in which case there sales figures may be close to the truth)

I totally agree. Interestingly they had the place priced up in early 2007. No prizes for guessing how much the EA is recommending that they market it for now in 2010! :lol:

I’m keeping a close eye on this one.

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To clarify, these are the EA's own sales figures.

x3 houses sstc in Aug

x3 houses sstc in Sep

x17 houses sstc in Oct

x5 houses sstc in Nov (to date)

(apparently)

Ahhhh...so how many have they actually sold in these months...SSTC mean nothing at the mo.

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To clarify, these are the EA's own sales figures.

x3 houses sstc in Aug

x3 houses sstc in Sep

x17 houses sstc in Oct

x5 houses sstc in Nov (to date)

(apparently)

Cheers - I clearly need more coffee before I try to read!!!! Sorry... :(

As you say (now I get my head round it,) that seems like quite a spike in October.

Interestingly, we're seeing a similar thing around here in Farnham - much more stuff went SSTC in October and early November - but unless it's actually completed and on the Land Registry, I'm afraid I tend not to believe it. EAs around here seem to use SSTC and Under Offer interchangeably, so to me SSTC no longer appears to mean it's a done deal.

Things are hanging around an extraordinary long time here, before coming back on as available. For example, you'd imagine something that "went SSTC" in April would have been on the LR by now - but lo and behold, back it comes on the market again as Available, on Friday.

latchwood.PNG

Also, Warren Powell Richards seem to have listed a load of stuff on Rightmove, straight on last week as "SSTC," and whilst Strutting Plonker have had a bunch of stuff also go "Sale Agreed" in the last few days, I happen to know one of the vendors personally who is "really disappointed" with the figure they've agreed on, and will likely pull out at the first sign of any delay or last-minute shenanigans by the buyer.

So, to me SSTC means nowt until it's on the LR - and there's plenty allegedly SSTC around here which are nowhere near that yet.

B

PS, yes I know the LR lags by three months at least - but the example above is just one of a number around here, that are coming back on as available after much more than that period of time.

post-13228-0-29644200-1289123610_thumb.png

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Great news, our young friends have SOLD their house.

they have also found a place to go to.

Sadly, they are taking the 6 times joint mortgage offer to do it.

I knew they would...they were terrified at first, but the draw of the better home and future profits is irresistable.

EDIT

Purely as an aside, and I suspect no motive on the part of the EA, but there never was a FOR SALE board on the property...but the DAY the thing was SSTC, a Board magically appeared. They were apparently too busy to put a board up.

6x - they are mad. at 4x you can get by on one salary and still manage but 6x you are dead in the water if one person loses their job.

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6x - they are mad. at 4x you can get by on one salary and still manage but 6x you are dead in the water if one person loses their job.

Is that on IO or repayment and at what interest rates?

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Is that on IO or repayment and at what interest rates?

I dont know the details....I was told by Mrs Loo they were told they could get £170K....She (Our friend) said at the time it was totally ridiculous....it would take all their money.

Seems though, that once proffered, and seeing a few places, the temptation for the "lifestyle" is just too much.

The EA had overvalued the home above current mouseprice results for the area.

If I find out more Ill let you know.

As another point of interest, a place 400 yeards from us sold a few weeks ago for £50K more than the 2008 sales price. It has a builders fence around and planning for two dwellings.

I expect demolition soon.

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I totally agree. Interestingly they had the place priced up in early 2007. No prizes for guessing how much the EA is recommending that they market it for now in 2010! :lol:

Come on

tell us!

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A friend of mine works for the local authority in Herts carrying out searches. Last week she told me that she is innundated at present and run off her feet.

So houses are selling, ready for occupancy at Xmas but it tells nothing about price.

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A friend of mine works for the local authority in Herts carrying out searches. Last week she told me that she is innundated at present and run off her feet.

So houses are selling, ready for occupancy at Xmas but it tells nothing about price.

wow, thats the first time in recorded history Ive EVER heard that from a public sector employee.

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Yep I always use houseprices.co.uk. Also, the only thing I monitor is the total available properties fitting my criteria on RM as all that matters to me is the supply overhang ie not how many are going sstc (as even more new instructions could be being added or vice-versa).

Over the past 12 months, this figure has risen almost 50% :-)

(Somerset btw)

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Purely as an aside, and I suspect no motive on the part of the EA, but there never was a FOR SALE board on the property...but the DAY the thing was SSTC, a Board magically appeared. They were apparently too busy to put a board up.

A lot of times, sellers ask that a board NOT be put up until after the place has sold (wanting to keep it quiet for neighbours, or not wanting people to know how long it's been on the market). In a way, it's also free advertising for the agent so you can ask for a reduction in the agents fee if they put one up. Once it's sold, the agent wants to trumpet that they are good at selling to get other properties on their books.

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  • 153 Brexit, House prices and Summer 2020

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      • down 5% +
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