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nordiclad

For Sales Signs Going Up In January ?

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OK, I know I am looking to move over to the dark side, wife pushing after we have been in rented for over a year, but….two EA’s (miles apart in Mid Devon) this week have told me the same story.

Once the holiday season is over, please come back to see us in January, as they have been instructed to value and place an “unusually high” number of houses onto the market for that month, compared to other years.

Anyone else had this feedback, maybe the Snowball IS about to start rolling ???. :rolleyes:

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OK, I know I am looking to move over to the dark side, wife pushing after we have been in rented for over a year, but….two EA's (miles apart in Mid Devon) this week have told me the same story.

Once the holiday season is over, please come back to see us in January, as they have been instructed to value and place an "unusually high" number of houses onto the market for that month, compared to other years.

Anyone else had this feedback, maybe the Snowball IS about to start rolling ???. :rolleyes:

Bank/B.S. repo's?

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Yes but it is not purely a question of how many properties go onto the market, it is a question of whether the number is matched by the number of buyers...

(sorry for stating the blindingly obvious but...) B)

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...maybe the Snowball IS about to start rolling ???

The snowball's been rolling for over a year. The slope's now about to steepen and as the snowball accumulates more snow it will gather momentum.

Edited by Jeff Ross

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aaahh,but!!!

The much maligned EA is about to become our new best buddy.

you see,they are very short on transactions,so in order to get their own commission they will be downdgrading their valuations to get sales.

there may be a kind of unspoken gentlemans agreement between them to reduce,as the ones that are stuck on are clearly not going to sell,and the vendor will find it insulting if the EA tells them to drop the price.

....so better to do it to new clients.

....but make no mistake about it,these guys will be tearing each other to shreds for business too.

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I was told the same thing by an EA recently. They said that when couples split up , especially if there are children involved, they wait until after Christmas to put the house on the market. They said they already had the details of many houses and where just waiting to put them up after the holidays.

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We could be in for a spring bounce although with the amount of propeties hitting the market i will grin for about a month if it ends up high volume on reducing prices.

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Well it certainly hasn't happened in the area's i'm looking at, the same overpriced tat that they were peddling last year, no reductions really.

However there is a lovely house I have my eye on that is for sale for £450k or for rent of £1200pm, guess which option I'm considering :)

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A house was on the market here a year ago for £595,000 last year. It disapeared pretty quickly, but has just popped back on, and went to see it yesterday - it's now £565,000. Sounds like they discovered wife was pregnant, hence taking it off the market, but now they have no. 3, there's even more need to move.

They paid £450K 3 years ago, and he told us they have basically just repainted and re-done the ensuite shower. We think it's stili over-priced, as though it's a nice, solid Victorian job, it's not on a particularly good road, and the parking's a nightmare - but it may appeal to the people moving out of London, as it has a London 'feel'. I shall be interested to watch its progress.

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Here is part of the follow up I posted on the 11th Jan..................

""Well, yesterday after visiting 8 EA’s, 7 told me it looks like I could be very lucky, “as they are taking on, and out doing valuations on a record number of properties for Januaryâ€, they had never seen anything like it before.

But one of the EA’s who had sold through the last “crash†said that it was beginning to look like history repeating itself. She had seen this sort of build up before in 1990 and was strangely looking forward to it – reason, she was saying that all the other EA’s in town had “young kids selling†who did not have a clue what was happening or how to handle a “downturnâ€. The only point she wondered about was interest rates now as against back in 1990 and its effect.

At the end of the day, she expected a flat, but busy Q1 with discounting, but after that, get your tin hat out, it could get interesting as it goes down hill.

I am NO economy guru, but I’ll leave that to you guys to pick the bones out of the comments I heard – does it mean anything ?? ""

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aaahh,but!!!

The much maligned EA is about to become our new best buddy.

you see,they are very short on transactions,so in order to get their own commission they will be downdgrading their valuations to get sales.

there may be a kind of unspoken gentlemans agreement between them to reduce,as the ones that are stuck on are clearly not going to sell,and the vendor will find it insulting if the EA tells them to drop the price.

....so better to do it to new clients.

....but make no mistake about it,these guys will be tearing each other to shreds for business too.

All very true! The same thing is happening in North Wales. This weeks local paper had an advertisement from the largest local EA requesting FTB homes needed, as they were going to have a BIG First Time Buyer campaign ????? Whatever ever that means!

I can only presume that they will indeed be correcting their new valuations on these new to the market properties in order to achieve quick sales and resume some turnover.

We have many many stale properties that have been for sale for over 2 years with various agents but no reductions.

Incidentally If anyone out there is need of a "Brand New Executive Apartment" then we have far far more than can ever be occupied, other than by ex city sheltered housing scheme relocated outcasts in the future....

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  • 301 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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