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pajd

An Estate Agents Way Of Thinking?

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Viewed a house lastnight. It was on for 140k. It was very dated inside and the guy selling it (it was his fathers house but he passed away last year) told me it would need 20k spent on it. It needs double glazing for a start. Whole place needs painted, new carpets, new bathroom and a new kitchen.

The funny thing is though about 2 months ago i also viewed a house directly across the street. This would only need a lick of paint and nothing else. Its on for the same price and had been sitting for months!!!

Did the estate agent selling the house i viewed lastnight not do his homework? I mean ffs! Whats with the asking price?

The vendor could have set the price buy judging by this particluar estate agents other valuations i think thats unlikely.

Edited by pajd

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Viewed a house lastnight. It was on for 140k. It was very dated inside and the guy selling it (it was his fathers house but he passed away last year) told me it would need 20k spent on it. It needs double glazing for a start. Whole place needs painted, new carpets, new bathroom and a new kitchen.

The funny thing is though about 2 months ago i also viewed a house directly across the street. This would only need a lick of paint and nothing else. Its on for the same price and had been sitting for months!!!

Did the estate agent selling the house i viewed lastnight not do his homework? I mean ffs! Whats with the asking price?

The vendor could have set the price buy judging by this particluar estate agents other valuations i think thats unlikely.

some of the asking prices in derry at the minute are just plain stupid.

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Did the estate agent selling the house i viewed lastnight not do his homework? I mean ffs! Whats with the asking price?

The vendor could have set the price buy judging by this particluar estate agents other valuations i think thats unlikely.

I think the phrase you may be looking for is "Kite flying", but therearen't too many getting snagged at that height. . . . .

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Pajd,

A whole heap of Derry properties went sale agreed from what I can see on property pal. Must have been a bumper Easter in Derry.

There must be some people in Derry who are doing well for themselves.

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Ergo they are stupid people

Most people on here have been sitting waiting for years now for a crash that is always around the corner. Maybe by sitting on the sidelines and not getting on with our lives, could it possibly be us who are the stupid ones?

Have we failed to see the Gov's resolve to keep prices flat/rising? Maybe they view the outcome of a property price crash as more of a concern than the impact of forcing a false floor in the market until things pick up again.

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Pajd,

A whole heap of Derry properties went sale agreed from what I can see on property pal. Must have been a bumper Easter in Derry.

There must be some people in Derry who are doing well for themselves.

I searched but cant see many at all?

Here is the past 2 weeks (10 in total)

http://www.propertypal.com/search?pt=residential&st=sale&beds=1&age=14&min=20000&max=900000&sta=3&sty=1&sty=2&sty=3&sty=10&sty=4&sty=5&sty=6&sty=7&sty=8&sty=9&=&q=Derry+City+Area&radius=0

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Most people on here have been sitting waiting for years now for a crash that is always around the corner. Maybe by sitting on the sidelines and not getting on with our lives, could it possibly be us who are the stupid ones?

Have we failed to see the Gov's resolve to keep prices flat/rising? Maybe they view the outcome of a property price crash as more of a concern than the impact of forcing a false floor in the market until things pick up again.

... but, but, but house prices in Northern Ireland have fallen by nearly 50% nominal in the last 3 1/2 years and are still falling at a rate of more than 10% annualized. Was it really stupid to wait? How much money have you yourself saved by waiting? I know that the place I wanted to buy in 2007 has fallen by £180,000. So glad I found this website and followed the advice of other bears here.

Edited by Belfast Boy

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I've also sat on the sidelines renting a very nice house for much less money than I was prepared buy a lower end house. In the mean time my circumstances changed and I didn't get paid for nearly a year. Ok I've lost some savings (<25%), but if I used them to put a deposit down (at any point not just 2007) and bought I would have nothing now and be bankrupt.

I don't think we expected interest rates to hold so long, but given enough time the economy will compensate. My main worry though is that my savings will devalue significantly due to real inflation so I am hoping to spend them on some useful business development.

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Ha! You could have been looking at the same one I viewed a few weeks ago. Also on for 140 and needed 20k of work.

I stuck in an offer of 110k and the first words out of the EA's mouth were. "It's worth more than that". So like a red rag to a bull I took the hump and an argument started.

The arrogant sod belives that a dump is worth more than a finished house.

They do no homework. I know this for a fact because 2 years ago a house 2 doors down from the one I viewed sold for just over 150k (say 155 I can't remember exactly).

It needed no work doing to it at all but these muppets still think they are ****-of-the-hoop and don't research anything. Why would they? That involves work.

155 - 20% (for the 2 years of falls) = 124.

124 - 20 (for the work that needs doing) = 104.

110k was a VERY reasonable offer I thought.

He came back within a minute to say that vendor had rejected the offer. There's no way he even wasted his valuable job hunting time ringing the vendor coz I'm sure the dirth of comsission from non-existant house sales isn't going down too well with the bank manager who's demnading mortgage payments from him.

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I have noticed a trend by Estate Agents that seems to happen more often than before ...

They manage somehow to get properties that are already on the market to the top of the list on the 'recently added' sections on property news. They must be taking them off and relisting them?

I could list several offenders ... one in particular that operates in the Greater Belfast, Newtownabbey and Antrim area is Country Estates, they seem to be at it more than most.

EA's please note ... buyers will not fall for this nonsense.

Its not a good sign for your business if you are resorting to this.

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I have noticed a trend by Estate Agents that seems to happen more often than before ...

They manage somehow to get properties that are already on the market to the top of the list on the 'recently added' sections on property news. They must be taking them off and relisting them?

I could list several offenders ... one in particular that operates in the Greater Belfast, Newtownabbey and Antrim area is Country Estates, they seem to be at it more than most.

EA's please note ... buyers will not fall for this nonsense.

Its not a good sign for your business if you are resorting to this.

I'll give you a bit of insight into this practice. If a property price is changed on Propertynews it will send the property back to the top of the recently added list. Some agents have taken advantage of this by reducing a price by a tiny amount, say £5 to 129,995 and then the next week putting it back up to £130,000. Each time a change takes place the property moves back up to the top. I want to state that I have never used this tactic as it smacks of desperation and most of the public can see through it. People who watch particular properties will see that nothing has changed and the agent is playing games. The EA doesnt have to take the property off and then put it back on as this would cost money so some of them see this as a free way of keeping certain properties in the limelight.

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I'll give you a bit of insight into this practice. If a property price is changed on Propertynews it will send the property back to the top of the recently added list. Some agents have taken advantage of this by reducing a price by a tiny amount, say £5 to 129,995 and then the next week putting it back up to £130,000. Each time a change takes place the property moves back up to the top. I want to state that I have never used this tactic as it smacks of desperation and most of the public can see through it. People who watch particular properties will see that nothing has changed and the agent is playing games. The EA doesnt have to take the property off and then put it back on as this would cost money so some of them see this as a free way of keeping certain properties in the limelight.

Correct ... and it achieves nothing except to put a potential buyer off.

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I'll give you a bit of insight into this practice. If a property price is changed on Propertynews it will send the property back to the top of the recently added list. Some agents have taken advantage of this by reducing a price by a tiny amount, say £5 to 129,995 and then the next week putting it back up to £130,000. Each time a change takes place the property moves back up to the top. I want to state that I have never used this tactic as it smacks of desperation and most of the public can see through it. People who watch particular properties will see that nothing has changed and the agent is playing games. The EA doesnt have to take the property off and then put it back on as this would cost money so some of them see this as a free way of keeping certain properties in the limelight.

My understanding is you can pay PN to place your particular ad on the first page of particular searched. Google do this all the time. I guess it was just a matter of time before PN followed suit. I think you book it for a 2 week or 4 week spell.

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  • 312 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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