Roost Posted December 13, 2010 Share Posted December 13, 2010 ARTICLE Interesting to read quote from EA comments "Personally I'd rather sell 20 houses at 25% off than 5 houses at full asking wouldn't you?" Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted December 13, 2010 Share Posted December 13, 2010 Some say the 'yawning gap' between RM asking prices and sales prices is because of the high amount of cash buyers not showing up in Hali-Wide figures. I dont buy it, the land reg figs are the same as Hali-Wides, not RM. The fact is about 25-30% of the houses on RM will NEVER sell unless they knock 40%+ off their prices, thats why asking prices are so distorted, not because of top end cash buyers. Quote Link to comment Share on other sites More sharing options...
Reck B Posted December 13, 2010 Share Posted December 13, 2010 ARTICLE Interesting to read quote from EA comments "Personally I'd rather sell 20 houses at 25% off than 5 houses at full asking wouldn't you?" With thinking like that, he's wasted in that industry. He should get a job teaching maths to 5 year olds instead. Quote Link to comment Share on other sites More sharing options...
darwin Posted December 13, 2010 Share Posted December 13, 2010 With thinking like that, he's wasted in that industry. He should get a job teaching maths to 5 year olds instead. Quote Link to comment Share on other sites More sharing options...
ManorHouseOwner Posted December 13, 2010 Share Posted December 13, 2010 Some say the 'yawning gap' between RM asking prices and sales prices is because of the high amount of cash buyers not showing up in Hali-Wide figures. I dont buy it, the land reg figs are the same as Hali-Wides, not RM. The fact is about 25-30% of the houses on RM will NEVER sell unless they knock 40%+ off their prices, thats why asking prices are so distorted, not because of top end cash buyers. you are right to not buy it. who are these "some" clutching at such heinous straws. 100% cash buyers tend to be crooked car dealers or Russians who I dont suppose are more likely than purchasers taking out mortgages to pay over the odds. I would have thought if its 100% your money you are as tight fisted as anyone. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted December 13, 2010 Share Posted December 13, 2010 ARTICLE Interesting to read quote from EA comments "Personally I'd rather sell 20 houses at 25% off than 5 houses at full asking wouldn't you?" It was probably posted by an HPCer pretending to be an estate agent, estate agents haven't had the sense to see it for three years now so what makes today any different? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted December 13, 2010 Share Posted December 13, 2010 Some say the 'yawning gap' between RM asking prices and sales prices is because of the high amount of cash buyers not showing up in Hali-Wide figures. I dont buy it, the land reg figs are the same as Hali-Wides, not RM. The fact is about 25-30% of the houses on RM will NEVER sell unless they knock 40%+ off their prices, thats why asking prices are so distorted, not because of top end cash buyers. Some...are talking out their a**e. If you were a cash buyer would you not be paying less than everyone else ? These magical cash buyers don't exist in any great numbers. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted December 13, 2010 Share Posted December 13, 2010 (edited) It was probably posted by an HPCer pretending to be an estate agent, estate agents haven't had the sense to see it for three years now so what makes today any different? Some might recall the old classic film "Gorn with the Wind." I can always remember one phrase spoken by Rhett Buter when confronted by the new order over the demise of the South. Mr. Butler responded by saying there is more money to be made when everything is crashing around you than when times are good. EAs should take note. Pile 'em high and sell 'em CHEAP! If we get some bad employment numbers I am reverting to uber-bear status. Edited December 13, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
ManorHouseOwner Posted December 13, 2010 Share Posted December 13, 2010 Some...are talking out their a**e. If you were a cash buyer would you not be paying less than everyone else ? These magical cash buyers don't exist in any great numbers. indeed. only cash buyers i know are parents buying boltholes for tarquin, or drug dealers money laundering in the North West. both at the bottom scraping end of the market. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted December 13, 2010 Share Posted December 13, 2010 If we get some bad employment numbers I am reverting to uber-bear status. Nothing has changed in the last few weeks and the prognosis for next year is dire. I think you are just having a wobbly moment. Quote Link to comment Share on other sites More sharing options...
scappers Posted December 13, 2010 Share Posted December 13, 2010 indeed. only cash buyers i know are parents buying boltholes for tarquin, or drug dealers money laundering in the North West. both at the bottom scraping end of the market. Yeah, I guess if you were looking to launder you'd pay asking price. Quote Link to comment Share on other sites More sharing options...
Redcellar Posted December 13, 2010 Share Posted December 13, 2010 Yeah, I guess if you were looking to launder you'd pay asking price. But then you would sell a few months later at well below average, just to get the cash out quick. If it were money laundering the figures would be distorted downwards too because of this. Makes no sense at all why figures are so bullish. Other than they aren't, they are made up. Quote Link to comment Share on other sites More sharing options...
flatnose Posted December 13, 2010 Share Posted December 13, 2010 (edited) If we get some bad employment numbers I am reverting to uber-bear status. Please don't. I was getting hopeful of a crash when I heard you had turned bull! (When the last bear turns bull....etc.) Edited December 13, 2010 by flatnose Quote Link to comment Share on other sites More sharing options...
Roost Posted December 13, 2010 Author Share Posted December 13, 2010 It was probably posted by an HPCer pretending to be an estate agent, estate agents haven't had the sense to see it for three years now so what makes today any different? Or an estate agent pretending to be an HPCer pretending to be an estate agent.... I genuinely don't believe you can stereotype an entire profession, don't get sucked in to far by HPC groupthink Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted December 13, 2010 Share Posted December 13, 2010 Or an estate agent pretending to be an HPCer pretending to be an estate agent.... I genuinely don't believe you can stereotype an entire profession, don't get sucked in to far by HPC groupthink I will try not to Roost, thanks for that. Quote Link to comment Share on other sites More sharing options...
Fawkandles Posted December 13, 2010 Share Posted December 13, 2010 I may get flamed for this but i dont really get the hatred of estate agents on here. When the market is rising, they accelerate it, when the market is falling they accelerate it. I see agents as an ally now tbh, and the media is courting these 'experts' on the news. On tonights news they had one saying sellers need to lower their prices to realistic levels - surely good news? Quote Link to comment Share on other sites More sharing options...
schmunk Posted December 13, 2010 Share Posted December 13, 2010 Older people trading down? There must be quite a few of these. My wife's granny bought a £400k house with cash. indeed. only cash buyers i know are parents buying boltholes for tarquin, or drug dealers money laundering in the North West. both at the bottom scraping end of the market. Quote Link to comment Share on other sites More sharing options...
buzzardo Posted December 13, 2010 Share Posted December 13, 2010 I may get flamed for this but i dont really get the hatred of estate agents on here. When the market is rising, they accelerate it, when the market is falling they accelerate it. I see agents as an ally now tbh, and the media is courting these 'experts' on the news. On tonights news they had one saying sellers need to lower their prices to realistic levels - surely good news? Naah.... They are lying b@stards, and every lie trips off their lips as a matter of habit and conditioning. Only when they "get" the new reality, and understand the implications, will they survive. But if they were bright enough to get it, then they'd be doing a proper job already. Estate agency is pretty much the only "profession" in life where you can be as thick as pigsh!t, but still make more money than your punters.... So.... don't hold your breath. B Quote Link to comment Share on other sites More sharing options...
PbroAgent Posted December 13, 2010 Share Posted December 13, 2010 Some say the 'yawning gap' between RM asking prices and sales prices is because of the high amount of cash buyers not showing up in Hali-Wide figures. I dont buy it, the land reg figs are the same as Hali-Wides, not RM. The fact is about 25-30% of the houses on RM will NEVER sell unless they knock 40%+ off their prices, thats why asking prices are so distorted, not because of top end cash buyers. +1 There's a huge number of vendors living in la la land who will never sell and ignore every thing the agent says when they ask for our advice. I'd always rather just have motivated vendors who understand the market and will accept a decent price but it rarely ever happens that way. Quote Link to comment Share on other sites More sharing options...
exiges Posted December 13, 2010 Share Posted December 13, 2010 100% cash buyers tend to be crooked car dealers or Russians who I dont suppose are more likely than purchasers taking out mortgages to pay over the odds. Or those who bought in 1994 for tuppence and sold in the last couple of years when they'd magicked "90% equity" through house inflation. Lucky money, not clever money. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.