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nordiclad

No Change In Ea's After 19 Years

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Another new boy (Very late 50 something) on the block here, and first thanks for all the very interesting and entertaining posts that I’ve followed over the past year. So now I am in to HPC.

Now for the first time in 19 years I have to deal with EA’s again (looking to move back to the dark side and purchase), which after being ripped off by an EA with an endowment mortgage (which fell far short) in ‘87, left me thinking they are low life. Strange, but after all this time, most of them do not seem to have changed, even here in Devon.

Prices are falling all over the place, been tracking in several areas, but EA’s are still in denial. 6 months ago, found a cottage priced at 360K offered 320K – EA told me client would not take less than 345K and that I was not in the real world – today it is still on the market, with another EA for 315K.

EA, west of Exeter has 180+ properties on their books. This agent is telling me the market is very active, but seems to be collecting properties by overvaluing.

Unbelievably, I walked into another EA in the same town, and he was very willing to assist me (OK, cash in bank) and admitted outright that prices are already negative YOY in the region!!!

Maybe I should follow all the advice given on HPC and carry on renting.

Spotted on advert for new flats (South Devon) with the builder willing to pay up to 10% of the purchase price back to clients, if it falls over the next 3 years. Agree Exeter prices heading south fast.

Following all the West Country posts with interest.

I might be everything some of you hate. Sold out July ’04, paid off everything, and have a bolthole in one of the Nordic countries, (which I am going to if Mr Brown makes it), paid off my 2 daughters uni’ fees and loans, plus gave them a deposit for their own homes.

Here’s to HPC and the older ones amongst us – but then I have to think of my pension tied up in the stock market, I am no Dr B.

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Prices are falling all over the place, been tracking in several areas, but EA’s are still in denial. 6 months ago, found a cottage priced at 360K offered 320K – EA told me client would not take less than 345K and that I was not in the real world – today it is still on the market, with another EA for 315K.

EA, west of Exeter has 180+ properties on their books. This agent is telling me the market is very active, but seems to be collecting properties by overvaluing.

Unbelievably, I walked into another EA in the same town, and he was very willing to assist me (OK, cash in bank) and admitted outright that prices are already negative YOY in the region!!!

Maybe I should follow all the advice given on HPC and carry on renting.

...

Damn right you should carry on renting - with anecdotes like this to support your decision!

Good luck to you, sir, in your Nordic bolthole... ;)

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If Brown makes it to PM it won't peolpe leaving the UK, watch the rush for the exit by a lot fo the remaining companies.

Watch the SE for an indication of where the SW market is going, the differentials are hugely less than they were, it is funny watching London evacuees getting mild attack of stocker shock, it takes a huge amount of money filter from (mainly) the SE to keep SW prices up. OK there is the retirement move and the rump of the boomers to come along, but that is a little while yet and the SW having a large elderly population also means that there are quite a few market "leavers". It also seems that the SW economy has once again shot itself in the foot, plenty of businesses cannot function any more due to costs, just the same as last time.

Good luck, seeems like the first agent did you a favour - "not in the real world" :lol:

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I might be everything some of you hate. Sold out July ’04, paid off everything, and have a bolthole in one of the Nordic countries, (which I am going to if Mr Brown makes it), paid off my 2 daughters uni’ fees and loans, plus gave them a deposit for their own homes.

Yeah, something like that.

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  • 302 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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