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zsuzsanna

I Cannot Believe It.

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I have a lovely couple next door. The hubby is an EA (nice guy) and the wife fosters carer.They have 2 children.

They are moving into a larger property and taking on an enourmous mortgage because the hubby says that house prices will never drop. Talked to the wife that I am still renting and staying put because things are looking bad (economy wise). She got a bit worried and I think she can see sense but EA hubby cannot. I am worried for them genuinly.

UPDATE>>>UPDATE>>>UPDATE>>>

Edited by zsuzsanna

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I have a lovely couple next door. The hubby is an EA (nice guy) and the wife fosters carer.They have 2 children.

They are moving into a larger property and taking on an enourmous mortgage because the hubby says that house prices will never drop. Talked to the wife that I am still renting and staying put because things are looking bad (economy wise). She got a bit worried and I think she can see sense but EA hubby cannot. I am worried for them genuinly.

I'm not.

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I'm not.

It just shows you how naive and ill-informed the EA's are. They cannot see it comming at all. No wonder that they will rip people of if they think that those prices are reasonable.

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It just shows you how naive and ill-informed the EA's are. They cannot see it comming at all. No wonder that they will rip people of if they think that those prices are reasonable.

When I said I'm not worried I meant it two ways.

1) If this guy is an EA and knows the area well and is good at his job then the risk should be minimal to his family. He'll be fine.

2) If he is doing this out of "blind faith" then he is clearly not very good at his job and is precisely the kind of EA we can do without because he will be mis-advising vendors and buyers and multiplying his haphazard greed.

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When I said I'm not worried I meant it two ways.

1) If this guy is an EA and knows the area well and is good at his job then the risk should be minimal to his family. He'll be fine.

2) If he is doing this out of "blind faith" then he is clearly not very good at his job and is precisely the kind of EA we can do without because he will be mis-advising vendors and buyers and multiplying his haphazard greed.

I think is No 2. But I think he has been brainwashed by the company he works for. The prices here are ridiculos. I do not think he is nasty at all just naive and that is the type of person the Estate Agents need.

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I think is No 2. But I think he has been brainwashed by the company he works for. The prices here are ridiculos. I do not think he is nasty at all just naive and that is the type of person the Estate Agents need.

I suppose it benefits Estate Agencies to have their employees depending on commission in order to pay their own mortages. Practice what you preach and all that...

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I suppose it benefits Estate Agencies to have their employees depending on commission in order to pay their own mortages. Practice what you preach and all that...

But can you imagine how many of them think the same way. It is frightening that people do not look or think deeper.

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But can you imagine how many of them think the same way. It is frightening that people do not look or think deeper.

Absolutely right, I am genuinely mistified as to how the human race ever got this far! Most of us have no common sense at all! Amazing!

It is this lack of independent thought that allows economic cycles, bacause if everyone thought about in any depth as soon as a bubble started to form everyone would move to counter it!

Edited by FTBagain

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Update.

I live next door to this couple, I am a tenant. My rent is 475.00 a month, about avarage for the type of property in our area.

There is a house for sale for £134 000.00 in the street. It is exactly the same as ours. They are all the same. It has been up sale for months. (a sold sign appeared 1 week ago).

So my neighbours have put up they house for sale.....watch it.......for £149 500.00.

My jaw has dropped when I saw that.

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Its gets worse, some of my friends purposely made a trip to the Estate Agents to find out why the value of their property has not increase. They bought about 18, months ago, and in this time their house haven't increase in value.

All this in the property hotspot that is South-Wales.

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Guest Bart of Darkness
Its gets worse, some of my friends purposely made a trip to the Estate Agents to find out why the value of their property has not increase.

As if their houses were somehow "faulty"?

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Update.

I live next door to this couple, I am a tenant. My rent is 475.00 a month, about avarage for the type of property in our area.

There is a house for sale for £134 000.00 in the street. It is exactly the same as ours. They are all the same. It has been up sale for months. (a sold sign appeared 1 week ago).

So my neighbours have put up they house for sale.....watch it.......for £149 500.00.

My jaw has dropped when I saw that.

The potential yield on that is 3.8% per year before maintenance and tax if your rent is representative. Obviously overpriced.

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Update.

I live next door to this couple, I am a tenant. My rent is 475.00 a month, about avarage for the type of property in our area.

There is a house for sale for £134 000.00 in the street. It is exactly the same as ours. They are all the same. It has been up sale for months. (a sold sign appeared 1 week ago).

So my neighbours have put up they house for sale.....watch it.......for £149 500.00.

My jaw has dropped when I saw that.

Yes but dont forget the price increase is because they have a porch and laminate floor oh its well decorated to... therefore it is worth an exra 10K-15k.

p.s this is what i have from some guy at work, and with exagerated hand gestures he proclaims (oh yes its a proclaimation) that he WILL NOT drop price anything more than 1k on his 131,950 2 up 2 down.

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p.s this is what i have from some guy at work, and with exagerated hand gestures he proclaims (oh yes its a proclaimation) that he WILL NOT drop price anything more than 1k on his 131,950 2 up 2 down.

Fine, as long as he is happy to stay there for many years. Still, he might get lucky, there are still plenty of mugs around.

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As if their houses were somehow "faulty"?

haha, there does now seem to be this horrible expectance that people put on houses. Everyone expects a free rise of 20% in a year on the price of their house, dumb..

Edited by sllabres

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Yes but dont forget the price increase is because they have a porch and laminate floor oh its well decorated to... therefore it is worth an exra 10K-15k.

p.s this is what i have from some guy at work, and with exagerated hand gestures he proclaims (oh yes its a proclaimation) that he WILL NOT drop price anything more than 1k on his 131,950 2 up 2 down.

Hee WHAT A ******!

Hope he enjoys his retirement in that home.

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I have heard it said that salesmen are the easiest people to sell to.

To put it another way, if you believe your own hype, you are vulnerable to a big fall.

frugalista

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Hee WHAT A ******!

Hope he enjoys his retirement in that home.

Wait until his next door neighbour does so - then courtesy of nethouseprices he is b*ggered.

Actually, he is stuffed anyway - noone is going to pay him £130k if the market is turning when the stamp duty threshold is £120k and when average selling price is 93% of asking!

Is it for sale? Can you tell us where - I'd contemplate trolling the estate agent with a low offer just for fun

Edited by Tempest

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I have a lovely couple next door. The hubby is an EA (nice guy) and the wife fosters carer.They have 2 children.

They are moving into a larger property and taking on an enourmous mortgage because the hubby says that house prices will never drop. Talked to the wife that I am still renting and staying put because things are looking bad (economy wise). She got a bit worried and I think she can see sense but EA hubby cannot. I am worried for them genuinly.

UPDATE>>>UPDATE>>>UPDATE>>>

I go on a money / debt forum because I like to learn new things about the economy and such and it amazes me some of the stories on there.

1) girl on there this week saying her and her boyfriend want to buy a house because they are sick of renting as it is dead money. They can manage a joint mortgage of £85,000 which will buy her nothing, have NO deposit saved up and was asking where she could get an inflated income mortgage. I tried to offer advice by saying about the economy and housing situation at the moment, that renting is not dead money at the moment if your rent is cheaper than what mortgage payments would be on the same property and the only difference is that renting you cannot paint and carpet it how you wish and by mortgaging a house is the banks property anyway til it is fully repaid, so that is no different to renting in the short term. Her reply "I'm getting fed up with renting as the landlord keeps getting people to value it for a possible re-mortgage but you don't know for sure she may say she's selling it later on so it's annoying strangers coming into our home (if thats what you can call it) and I dont like the agengies doing 3 monthly checks on us and yes it does make a big difference if you can decorate it to your taste otherwise you can't make it your own. My boyfriend works for **** so he is going to see just how much we can get"... silly moo. Just wouldn't hear reasoning. Go ahead love, don't say you weren't warned.

2) A woman asking people whether bankrupcy was an option as her and her husband are in so much debt that they have run out of ideas. She was like 'ok I'll lose my house, but we can buy a smaller one when the bankrupcy ends and then buy a flat to rent out to make us money'. She also wanted to know whether they could keep both cars AND also wanted to know if they could still get credit after being made bankrupt!!! She thought bankrupcy only last 3 years then the slate was wiped clean and could start afresh to rack up even more debt (on top of their 25 years secured loan tacked onto their 30 year mortgage) and when she didn't like some of the replies her retaliation was that all of these companies on TV advertising credit to people with CCJs or Bankrupcies must be falsely advertising. GET A LIFE!!

Do people not learn? I get so fed up with hearing these idiots bleating on and just not grasping the fact that the sh!t is going to hit the fan / do not learn their lesson by asking about getting credit after filing bankrupcy. Aarrrgghh.

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I have heard it said that salesmen are the easiest people to sell to.

I find that suprising, I have spent some time in sales, so i can see the BS coming a mile off.

I would say i'm virtually impossible to"sell" to, as I usually know what I want, and what I want to pay for it before I even go into a shop or showroom, and if I cant find what I want at the right price I do without it.

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I have a lovely couple next door. The hubby is an EA (nice guy) and the wife fosters carer.They have 2 children.

They are moving into a larger property and taking on an enourmous mortgage because the hubby says that house prices will never drop. Talked to the wife that I am still renting and staying put because things are looking bad (economy wise). She got a bit worried and I think she can see sense but EA hubby cannot. I am worried for them genuinly.

UPDATE>>>UPDATE>>>UPDATE>>>

Obviously they have more self confidence than you and believe they have the ability and the skills to secure their financial future where you clearly feel at the "mercy" of and a "victim" of the "economy".

PG

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I think is No 2. But I think he has been brainwashed by the company he works for. The prices here are ridiculos. I do not think he is nasty at all just naive and that is the type of person the Estate Agents need.

another chinless public school cretin who cannot get a real job ? Maybe he should work for Michael Page.

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  • 341 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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