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Estate Agent Lets Slip!

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I went to veiw a propertie this morning. A beautiful 1930's semi. This is exactly the type of house we told the agent we wanted last summer. When we told her our budget she almost fell about laughing even though we are FTB's and hence chain free. In the months that followed we were sent details of one awful propertie after another. Now this, It's perfect and in our budget.

Are we buying? NO!

We now know we can get what we want with the funds we have. Plenty more fish and prices are falling futher still, along with confidence in the market.

. Quote from the agent "It's a great time to buy despite what EVERYONE is saying" :lol:

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I went to veiw a propertie this morning. A beautiful 1930's semi. This is exactly the type of house we told the agent we wanted last summer. When we told her our budget she almost fell about laughing even though we are FTB's and hence chain free. In the months that followed we were sent details of one awful propertie after another. Now this, It's perfect and in our budget.

Are we buying? NO!

We now know we can get what we want with the funds we have. Plenty more fish and prices are falling futher still, along with confidence in the market.

. Quote from the agent "It's a great time to buy despite what EVERYONE is saying" :lol:

Toward the bottom of the last major crash - majority could skip first timer flats (which crashed even further) and buy 3 bedroom semis or detached :o

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I don't think we'll see some kind of rapid crash. Rather Japan style slow price decline over 10-15 years. Same effect though, just different timing. I've lost my faith. Banks, EA's and gov won't let it happen. Just look at statistics, -0.1, -0,3, -0.1, -0.4...and get use to it. I've decided not buy too, but for other reasons than yours.

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I went to veiw a propertie this morning. A beautiful 1930's semi. This is exactly the type of house we told the agent we wanted last summer. When we told her our budget she almost fell about laughing even though we are FTB's and hence chain free. In the months that followed we were sent details of one awful propertie after another. Now this, It's perfect and in our budget.

Are we buying? NO!

We now know we can get what we want with the funds we have. Plenty more fish and prices are falling futher still, along with confidence in the market.

. Quote from the agent "It's a great time to buy despite what EVERYONE is saying" :lol:

Looked at four houses today one repo three out of the for were going into rented one couple were in there late 60s! ,Think they all know somethings gonna happen soon .Ps wont be offering on any of them either. :)

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Estate agents, bless em.

Our viewing was at 10:15 and another couple turned up to view at 10:30.

Quick said the wife, put in an offer before they grab it! :o

OH NO SHE DIDN'T. :P

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This appears to be the new modus operandi. In the past week I have viewed 2 different properties and on each occasion another couple have already been viewing when I pitched up. Also, the duration for viewing was 1/4 hour both times.

Pathetic attempt by EA's trying to apply pressure!

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I don't think we'll see some kind of rapid crash. Rather Japan style slow price decline over 10-15 years.

I thought the same as you for a long time, but in the end I reckon we can't do a Japan. Japan was until recently the world's second biggest economy - an astonishing accomplishment given it's size, and with an extraordinary level of household savings to offset it's public debt. The kind of stimulus programmes they were able to juggle for a decade, we can manage for only a couple. And we live in inflationary times in a way they did not in the 1990's. If you can protect your nest egg from inflation, you'll get your house price crash.

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This appears to be the new modus operandi. In the past week I have viewed 2 different properties and on each occasion another couple have already been viewing when I pitched up. Also, the duration for viewing was 1/4 hour both times.

Pathetic attempt by EA's trying to apply pressure!

Not a reasonable attempt not to have the guy making wasteful journeys then.

Sorry, if there really are two sets of people viewing on the same day it makes every sense to schedule them at the same time.

tim

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Sorry, if there really are two sets of people viewing on the same day it makes every sense to schedule them at the same time.

tim

Yes there really were another couple. Hard to believe in this climate I know. Our viewing was only half way through when they turned up. This is not the first time it's happened. Last month we asked on a friday for a saturday viewing and were invited in on another persons. Two birds with one stone but highly unproffesional as the other party had no idea we would be there.

Edited by Bear in mind

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I don't think we'll see some kind of rapid crash. Rather Japan style slow price decline over 10-15 years. Same effect though, just different timing. I've lost my faith. Banks, EA's and gov won't let it happen. Just look at statistics, -0.1, -0,3, -0.1, -0.4...and get use to it. I've decided not buy too, but for other reasons than yours.

+1

the bell-weather is the fact that rentals are very good value, suggesting house prices have a very long way to fall, can only happen slowly

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+1

the bell-weather is the fact that rentals are very good value, suggesting house prices have a very long way to fall, can only happen slowly

What the Japanese had was very low inflation and very low interest rates. For international reasons, we get high inflation and low interest rates. High inflation acts in exactly the same way as high interest rates though in terms of putting households underwater. That's to say nothing of the impact of a double dip recession and the possibility that the BoE will also raise interest rates.

Japan was a good comparison for a while but I don't think it is anymore.

Edited by tpbeta

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I woke up this morning and my heart was seriously considering putting an offer on this house. :rolleyes:

My head said get yourself on HPC and come back to reality! :angry:

Half hour later and talk of 20 - 30% drops to come in the mainline media. :D

Head has now put heart firmly back in place. B)

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I woke up this morning and my heart was seriously considering putting an offer on this house. :rolleyes:

My head said get yourself on HPC and come back to reality! :angry:

Half hour later and talk of 20 - 30% drops to come in the mainline media. :D

Head has now put heart firmly back in place. B)

Nothing wrong with making an offer, just making 30% below asking. B)

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I went to veiw a propertie this morning. A beautiful 1930's semi. This is exactly the type of house we told the agent we wanted last summer. When we told her our budget she almost fell about laughing even though we are FTB's and hence chain free. In the months that followed we were sent details of one awful propertie after another. Now this, It's perfect and in our budget.

Are we buying? NO!

We now know we can get what we want with the funds we have. Plenty more fish and prices are falling futher still, along with confidence in the market.

. Quote from the agent "It's a great time to buy despite what EVERYONE is saying" :lol:

The thing is though if you want somewhere to live then you have to buit the bullet sooner or later. Do you really want to deny your self your perfect house on the back of the fact that the market is going to crash in the near future? If all you are concerned with is getting a property for next to nowt then you are in danger of becoming esentially a slave to exactly the same thing that motivates the compulsive MEWE'R and rampant speculator - greed! The fact that you are refusing to buy a property which you openly admit is "...perfect and in our budget" tends to suggest that.

It's like the gamblers fallacy - "It's been red ten times in a row so I'll chuck even more money on because it just has to be black next". Unfortunately it doesn't though, it can very easily be red until you run out of money. Same here "We've been waiting so long for the crash to get going it has to come soon". Sorry, wrong again, it may take years or even never happen.

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I don't think we'll see some kind of rapid crash. Rather Japan style slow price decline over 10-15 years. Same effect though, just different timing. I've lost my faith. Banks, EA's and gov won't let it happen. Just look at statistics, -0.1, -0,3, -0.1, -0.4...and get use to it. I've decided not buy too, but for other reasons than yours.

I tend to agree. No, I'm no sort of financial expert but I'm just not seing it to be honest. Prices probably won't move much, or at all, over the next decade but I'm not seeing much reason to believe that they are going to crash. There's really only one thing which can cause that and that is lots of forced sales and I don't see much evidence of that happening. Interest rates are still low, people are, by and large, paying down debt and taking out less new debt, mortgagee's have little incentive to repo properties as they are in the lending game, not the property selling game.

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I woke up this morning and my heart was seriously considering putting an offer on this house. :rolleyes:

My head said get yourself on HPC and come back to reality! :angry:

Half hour later and talk of 20 - 30% drops to come in the mainline media. :D

Head has now put heart firmly back in place. B)

Yeah, yeah, and we've been reading headlines saying this for years and the next month they will say something different. It sounds very like you don't have the faith of your convictions and need a sermon at the altar of HPC to reinforce your faith. This imminent crash is starting to look very "faith" based to be honest. Why are people on here automatically right? I mean, they haven't been to date. Four years since the banks started going tits-up (largely on the back of irresponsible mortgage lending) and this alleged crash still isn't here. How many more years do you let your self go on beliving that before you decide it's not going to happen.

When I started posting here the tone was very much one of "People who constantly talk about the value of their houses are sad individuals - all I want is an afordable house for my family." It seems to be rapidly becoming one of "I want to get my dream home for fvck all because I think I deserve it for having to wait so long due to lots of greedy b@stards" without actually realising that that attitude may actually make you a greedy *******.

You have found your ideal house which is within your budget, how many more years are you prepared to keep denying your self and your family what you want or need on the basis of wanting to get it for nowt? Give it another year or so of turning down "perfect" houses on the basis of what is basically greed and then consider how your wife/family is going to be feeling.

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You have found your ideal house which is within your budget, how many more years are you prepared to keep denying your self and your family what you want or need on the basis of wanting to get it for nowt? Give it another year or so of turning down "perfect" houses on the basis of what is basically greed and then consider how your wife/family is going to be feeling.

What prevents me from buying?

Fear.

Buying a house is a huge financial decision. The sums just don't add up in my head. Until they do I won't buy. Simple.

I did suggest to the agent that I may have more interest in this house at around 170k considering I am chain free. She laughed and I asked to be taken off their books.

Patience is a virtue and the best things come to those who wait.

I still believe!

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What prevents me from buying?

Fear.

Buying a house is a huge financial decision. The sums just don't add up in my head. Until they do I won't buy. Simple.

I did suggest to the agent that I may have more interest in this house at around 170k considering I am chain free. She laughed and I asked to be taken off their books.

Patience is a virtue and the best things come to those who wait.

I still believe!

But you said it was within your budget.

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But you said it was within your budget.

Just because its within my budget does not mean I should buy.

This house is at the upper end of what I would be comfortable paying and I don't want to struggle in the future.

When the long term average multiple of salary is 3.5x and now stands at well over 6x. That does not add up.

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  • 284 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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