Jump to content
House Price Crash Forum
Sign in to follow this  
Mustard_Jones

Email Conversation With An Ea

Recommended Posts

Hi all,

Below is part of an email exchange between an EA and myself, (identifying inormation etc deleted). I was enquiring about a house recently posted on rightmove. I can't believe the EA has the audacity to maintain an 'everything is fine' attitude.

Comments are welcome !

------------------------------

Hi

This is a serious and sincere mail from my side, not just a rant, honest.

Are these guys serious ? They bought it for 153k in April 2010 and today want 215k !!.

Prices have dropped year on year over the last 12 months, the market is tanking daily, sales volumes are tiny, houses are on the market for ages now before being sold, mortgage approvals are at an all time low, austerity measures and new taxes are just kicking in, fixed rate deals are evaporating, inflation is rocketing eroding our spare cash, interest rates can only go up, houses prices don’t always go up....blah blah we both know the score here

I’m not having a go at you here, this is a serious question from my side. I do want to cash buy somewhere ASAP and I feel that certain sellers either have no idea what is going on in reality or are deliberately overpricing their houses so buyers can get a perceived ‘great deal’ when negotiating a discount.

If these owners are serious about selling at a reasonable market price then I’m serious about looking at this place and if I like it getting into discussion with them

I’d appreciate any feedback you have and also if you could provide my feedback (in a tactful way) to these guys

Thanks

---------------------------

The present owner purchased the property in 2010 and have spent a lot of money doing it up, it was a complete mess, Kitchen, bathroom, central heating, windows, they converted the garage, re decoration,etc.

I would imagine they will sell it for around £200,000.

We are finding the market just normal, I have been in this job since 1972 through boom and bust markets, just a traditional market really, sales levels around the normal amount we would expect, don't believe all you see in the press.

Kind Regards

Share this post


Link to post
Share on other sites

Have you been to look at the house?

If they have put in a new kitchen, bathroom, double glazing, central heating, converted a garage, that's almost a reasonable explanation as that must be a £30k+ proposition.

Obviously a bit of standard delusion going on here, but there are more annoying examples of 'twigs in vase' syndrome.

Share this post


Link to post
Share on other sites

The present owner purchased the property in 2010 and have spent a lot of money doing it up, it was a complete mess, Kitchen, bathroom, central heating, windows, they converted the garage, re decoration,etc.

I would imagine they will sell it for around £200,000.

We are finding the market just normal, I have been in this job since 1972 through boom and bust markets, just a traditional market really, sales levels around the normal amount we would expect, don't believe all you see in the press.

Kind Regards

I think there are two things going on here:

1) The sellers expectations given the money they spent on the place - which may or may not account for the increased price. Are they flippers or people who moved in intending to stay and have now become distressed sellers?

2) The EA's, 'everything is fine' attitude. During my last visit to a local EA, when she told me "it's never been a better time to buy", I told her that I have been told this same thing by every EA over the last couple of years. It can't always be the best time to buy and with the changes ahead, now is certainly not going to be the best time to buy. It's funny that your EA told you not to believe the press - I bet they didn't say that when the media were reporting house price rises!

Try to not let it get to you. Things are moving in the right direction and your EA will be proved wrong. As they say, revenge is a dish best served cold.

Share this post


Link to post
Share on other sites

Have avoided going into EAs recently but 6 months ago, the ones I spoke to were pretty clear that it was a buyer's market.

I wouldn't worry if an EA had his/her head in the sand. It's frustratingly slow but there can be only one result. Just keep putting in low offers.

Share this post


Link to post
Share on other sites

if you want to offer on it - offer on it what it is worth to YOU.

Only you can see exactly what work has actually been done and the standard to which it has been done and finished off etc. Only you know what your feelings are to living on this street/road rather than another one - maybe nearby? All those emotional factors and many many more will/do have a little bearing in the overall price YOU are willing to pay.

We can recite a similar experience last week when we viewed a property that someone bought in mid-2010 and paid 220K for, (asking then was 204K and we did actually view it 12month ago). The new owner has had to deal with a bit of shrinkage around doorframes and ceilings. They have redecorated and dealt with some of this but not all. They now seem to think that they are instantly worth 240+ again. The identical layout property to them next door has been on market for over 2 years priced at 255-250 and now 245 (been at 245 since mid-Nov-2010) and still that gets no takers!) .... The agent handling the next door property admitted to us 6 weeks ago that it was still "rather optimistically priced in current market" ... .. I think that says it all for both of these properties in our area.

Share this post


Link to post
Share on other sites

I can't believe the EA has the audacity to maintain an 'everything is fine' attitude.

They have to to be successful in sales. Its why I couldn't be a salesman, my natural cynicism would have me turning to anti-depressants within a year. I actually admire them for it. I've been viewing houses and putting in low offers for three years now, and I expect all the local estate agents really hate me - but they still maintain a friendly, cheerful, positive manner around me. Good on them, I say.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 309 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.