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ARENAPUA

Are house sellers being unrealistic?

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If UK houses were the stock market they would already be down a lot. Things like future banking regulations to be phased in would be already priced in. You'd have to "man up" and sell at whatever the price was at the time or wait.

In the case of housing however waiting might be a lot longer because the housing market is not easily adaptable or liquid such as a company that can reshape itself or f*** off abroad. Also the demographics and politics may be changing. What if you sell at a price that shifts but can't afford to buy elsewhere because prices are so high? There's a fear.

The smart money is offloading now in my opinion. I'd not look back and regret, if I sold something at 20% but could have sold at 50% just before an almighty crash had I waited I don't mind, it's still calculated winning bets and I didn't lose (I have nothing to do with housing, I use stock market) Estate agent priced a place in my town at 600k when other similar place were at 750k he knew the score.

property market is still rediculouos, in reality the place should have been no more than 200k if not for banking / low IR / QE ponzi.

Edited by Arpeggio

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Do ursine creatures defecate in the copice?

I saw a house yesterday. They wanted £105,000 for it. It's next to a capped landfill. It has no gas either.

In June 2016 it had sold for £53,000.

What on earth justified the £52,000 increase? Nothing, there had been no improvements whatsoever.

 

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3 minutes ago, Morganite said:

Do ursine creatures defecate in the copice?

I saw a house yesterday. They wanted £105,000 for it. It's next to a capped landfill. It has no gas either.

In June 2016 it had sold for £53,000.

What on earth justified the £52,000 increase? Nothing, there had been no improvements whatsoever.

They thought "Well this is next to a landfill site and had no gas but is otherwise relatively cheap so if I bogart it now, knowing there's a lack of affordable housing, someone who has a job and is struggling will be desperate enough to buy it at a profit for me. All is fair in c***s and poor"

In reality I think people who sold it to them for £53,000 might have been the ones laughing.

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3 minutes ago, Arpeggio said:

They thought "Well this is next to a landfill site and had no gas but is otherwise relatively cheap so if I bogart it now, knowing there's a lack of affordable housing, someone who has a job and is struggling will be desperate enough to buy it at a profit for me. All is fair in c***s and poor"

In reality I think people who sold it to them for £53,000 might have been the ones laughing.

The odd thing is was that it was an open house type viewing. A bored young estate agent who sat in a corner playing with his phone.

The other 5 people who were there at the same time were ALL BTLers. Apparently S24 hasn't sunk in yet.

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4 hours ago, ARENAPUA said:

I am reading the article in that the first tranche of BTL castoff is hitting the market.  Little to do with previous props,  just chancer BTL douchebags hoping to bag a mug

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11 minutes ago, Morganite said:

The other 5 people who were there at the same time were ALL BTLers. Apparently S24 hasn't sunk in yet.

You could have pretended to be one as well and build the place up saying things like "lovely place really, would be good for X amount of rooms for tenants with a good yield, I might put in a cheeky offer".

11 minutes ago, Morganite said:

The odd thing is was that it was an open house type viewing. A bored young estate agent who sat in a corner playing with his phone.

Highly talented line of work that.

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