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Estate agents to open first to boost economy


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57 minutes ago, longgone said:

it`s safe to say this thing is going to be around for the rest of the year at least

Or like the common cold - also a coronavirus - perhaps for ever. You get one strain - it stays hidden almost like herpes or the shingles - and comes back again and again when you are run down or weakened. Or you get immunity from one strain but another mutation gets you in future.

After 4 months I think the world's medical professionals still don't really fully know what they are dealing with here or what its long term impact will be. Nature did very well to invent something so ingenious!!

Edited by MARTINX9
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16 hours ago, crumblingcon said:

Just wondering on the 1st day back for estate agents

1. Will there be a version of panic stockpiling we witnessed, but panic property selling

2. Will estate agents suggest that sellers don't act stupid trying to get top or peak prices pre virus and suggest they take a 10% minimum haircut

3. What will those first months of property price indicies be like

4. How has this effected the mind set of the seller

 

I hope they open the doors of the Estate  agents asap, this is going to be fascinating

Round this way you will see a lot of properties coming off the market.

When they give them the bad news vendors will change agents.

Volumes will collapse

Then once the probate system and banks crank back into life you will see the impact..... some months later probably winter

The rates are just too low and too much in in stasis for example in my trade (hospitality) often but not always a silly asking price is consistent with a business in trouble the reason being is the poor buggers are so much in debt they need x otherwise just let it go into admin.  Good businesses make profits that are provable they show x and get y. 

The banks play along as they dont want to loose everything and its cheaper to keep the old owners in there looking after the place as a closed place is worth even less.  This zombie state can  go on for years until finally it goes under the bank take over the listing disappears for a few months and then re appears with a serious commercial agent with  offers over x by deadline and the realistic process of selling it can begin. 

In a disaster owners cannot adjust their prices they are unable and unwilling auctions and genuine probates will be where the prices will be reflective of the new conditions.  It needs a third party with no emotional tie to it to get if shifted dealing with administrators is so much more pragmatic than homeowners.   

Unless priced near what you want I would not bother with any current listings chances are sellers of most of them will hunker down, their dreams of retiring to Tuscany on the proceeds from a run down 60s detached dump shattered.

Edited by Fromage Frais
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1 hour ago, crumblingcon said:

Like Eastbourne don't a lot of pensioners retire there?

Not any more, which is a massive problem for towns that were previously popular with retirees.

People are having to work longer. Few get well paid early retirement deals.

Cheap travel means it makes sense to downsize and go to Spain/Portugal out of season No -Mar rather than upstick to the UK coast.

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On 17/04/2020 at 10:04, richmondtw said:

Heard all that just before the last election

I guess we will be hearing the same thing for another 5 years now

zzzzzzzzzzzzz

loud snore

Agreed a lot - not all - people like to socialise- to me I cannot be bothered with all the zoom rubbish that is not socialising

The minute places are o[pen people will flood top them

Same - in all this I miss the banter and socialising in a pub the most 

I expect pubs and clubs will be amongst the last allowed to open - beyond perhaps for a few hours in daytime for food and a drink or two.  At least with restaurants you can space tables etc.

Drunks are far less likely to follow the social distancing rules - and the police and ambulance service might be better deployed than wasting time on carting them off to Casualty. Also a bit hard to drink while wearing a mask if that becomes essentially obligatory in London to get on public transport etc!

As for politics - well Boris is a lot more engaging that Keir from Camden Town. One thing we might learn is that relying on China and other countries etc to make the things you need might not be such a great idea. If only we had more people trained to make masks and gowns than make grande flat white mocha frappucinos with Almond milk and cinnamon on top we might be a bit better off!

Edited by MARTINX9
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2 hours ago, MARTINX9 said:

The 5 year fixed rate on a 85% LTV with First Direct is only 2.3%. They are very picky though!

Lets wait and see how low house prices get, it would not be the worst idea in the world for government to sell mortgages to those that have been on HB for years/decades, even pay the monthly mortgage if prices get worryingly low

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1 hour ago, Spirit said:

Oh the irony of this response from an Estate Agent.....

 

 

Whilst its not totally untrue Mr Pryor does not get paid if the deal does not get done I presume.

With that considered he both needs to pull the price down and the bid up to meet at a point where he can make some money if either party are being unrealistic.  

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On 4/16/2020 at 10:56 PM, Trump Invective said:

Ho hi! Who is gonna visit them!? Who is gonna put their house on the market? 

We're about to put our house on the Market, just waiting for the lockdown to end, so the sooner estate agents open up the better as far as we're concerned.  

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Anyone want to play some fun with EA's.  Call up saying that you are now a cash buyer, due to Great Aunt passing away from C19, and you are looking for a 'long term investment'

The first set of houses they show will be kite flying cr*p from RM

The second set will be their BTL mates wanting to exit out quick - you can string them along or make an offer.  A few weeks later, pull out the deal saying you know a BTL 'investor' who is selling their portfolio at 10%.  If they are desperate to sell, you may get some useful info on how far their own sellers will go. 

If not, you have some names to report to HMRC.

Anyone else have ideas to create some market mischief?

 

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On 17/04/2020 at 09:23, spyguy said:

I want pubs to open first.

Im missing going for a pint.

I normally social distance as just sit in a corner, reading.

 

For a minute I read your comment as:

I normally social distance as just sit in a corner of Reading :)

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14 hours ago, Wurzel Of Highbridge said:

If everyone could borrow 500k for a house, then the minimum price would be 500k

The minimum price has always been and will always be a lot lower than the amount people can borrow. Undesirable properties will always be very cheap. 

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14 hours ago, stuckmojo said:

This. One million times. PUBS

It's funny, but the only thing I'm REALLY pee'd off about is that pubs are shut. I'm a serial night-out'er. I asked on another forum when people thought pubs would reopen, and the first comment was a woman who snipped at me "is that your primary concern is it?" I sat for what must have been 5 minutes staring into space reflecting on my answer. So I answered her: yes. 

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12 minutes ago, Orb said:

It's funny, but the only thing I'm REALLY pee'd off about is that pubs are shut. I'm a serial night-out'er. I asked on another forum when people thought pubs would reopen, and the first comment was a woman who snipped at me "is that your primary concern is it?" I sat for what must have been 5 minutes staring into space reflecting on my answer. So I answered her: yes. 

Will it's healthy to be honest about your feelings and if that's the way you're wired, then that's the way you're wired.

 

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59 minutes ago, Orb said:

It's funny, but the only thing I'm REALLY pee'd off about is that pubs are shut. I'm a serial night-out'er. I asked on another forum when people thought pubs would reopen, and the first comment was a woman who snipped at me "is that your primary concern is it?" I sat for what must have been 5 minutes staring into space reflecting on my answer. So I answered her: yes. 

??? feel your pain. Just worries me they’ll be the last thing to open. Just being allowed a beer with my mates on a park bench would be a start for now. Not an alcoholic, honest. 

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4 hours ago, Orb said:

It's funny, but the only thing I'm REALLY pee'd off about is that pubs are shut. I'm a serial night-out'er. I asked on another forum when people thought pubs would reopen, and the first comment was a woman who snipped at me "is that your primary concern is it?" I sat for what must have been 5 minutes staring into space reflecting on my answer. So I answered her: yes. 

This had me chuckling.

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On 18/04/2020 at 11:36, MARTINX9 said:

Or like the common cold - also a coronavirus - perhaps for ever. You get one strain - it stays hidden almost like herpes or the shingles - and comes back again and again when you are run down or weakened. Or you get immunity from one strain but another mutation gets you in future.

After 4 months I think the world's medical professionals still don't really fully know what they are dealing with here or what its long term impact will be. Nature did very well to invent something so ingenious!!

nature always gets its own back. in a billion years we will be gone and all traces of us turned to dust it will go back to the woods again. 

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Had not looked at Rightmove listings for quite a long time, but really couldn't be bothered trying so hard to  constantly  keep busy in this lockdown, so was a bit of a coach potato this weekend and just vegged out online, Netflix, Better call Saul and Ozark(recommend) inbetween checking out properties in  Orkney, Shetland and Northumberland. Because of the virus have they taken a lot of the property off?, seemed much lower volume than a while back

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22 hours ago, Orb said:

It's funny, but the only thing I'm REALLY pee'd off about is that pubs are shut. I'm a serial night-out'er. I asked on another forum when people thought pubs would reopen, and the first comment was a woman who snipped at me "is that your primary concern is it?" I sat for what must have been 5 minutes staring into space reflecting on my answer. So I answered her: yes. 

Maybe don't go on mumsnet too much in future. It's unhealthy!

She had something that was fundamentally good, something that cannot be argued against by anyone unless they were mentally deficient, and that she would be happy to die for no mater what. Like religious people do. I guess it would be 'my babies', and that's fine, but to me "the pub" is more important than her too.

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On ‎18‎/‎04‎/‎2020 at 08:50, Wurzel Of Highbridge said:

First direct offering 5 year fixed at 1.64%. all it would take is the now to change affordability rules (due to Corona virus) and you'll have a crack up housing boom on your hands.

They've been that low for years.

Not sure about other banks but Barclays have pulled all the high LTV mortgages - only 60% left - pretty much eradicates all first time buyers for the moment.

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Daily Excess jumping on that bandwagon now.

https://www.express.co.uk/life-style/property/1271409/uk-property-prices-property-market-coronavirus-crisis-lockdown-restrictions-lifted

They are not price reductions they are 'bargains'.   and 'Estate Agency bosses are hoping to get the green light'  in other words they are desperate for commissions. 

Mr Shipside gets it at last when he says '“You do not have a functioning market when buyers can’t buy and sellers can’t sell.”, it was pretty much like that before CV19 anyway, think the pandemic has improved it if anything.

More shoddy reporting from the Daily Excess,  think John Cooper Clarke had the best view of this rag.  I look at it for amusement every now and then. 

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On 20/04/2020 at 11:17, Andy T said:

Not sure about other banks but Barclays have pulled all the high LTV mortgages - only 60% left - pretty much eradicates all first time buyers for the moment.

A lot did it but some are starting to reintroduce high LTV mortgages.

13 hours ago, Timbuk3 said:

They are not price reductions they are 'bargains'. 

Of course they are ? All depends on your point of view.

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For as long as they keep estate agents doors closed the longer we are technically in a period where house prices are NOW at there highest ever. I am pretty certain that the within months of them opening we are going to get a trickle of falling prices that will then build into worry, fear then panic, and that point my friends we have the big one, reversed sentiment on the down side, that has not been experienced in the UK for around 25 years now, and yes I am including the financial crisis in that time frame.

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