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Torygraph gives best advice ever - don’t buy now!


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As I and many others have been saying, we are postponing our search till January. Sunak has bought forward demand from the dumb, and that is all. You won’t gain anything by buying now, and as this article suggests you will likely lose out in the long run. Great to see this kind of thinking in the MSM and worthy of its own thread as a result.

If you are on the fence...get off it now. If you afraid, fear not, because winter is coming and since we are smart bears and not dumb sheep we are well prepared. Saving 0-3% on SD now may mean losing out on 15% savings in January.

Smarter to shun stamp duty holiday

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As a result of these market dynamics it’s even more important to do your sums carefully. It may be better for your finances to skip the stamp duty cut and wait for the market frenzy to die down, especially if the property is in a particularly popular area.

 

Edited by HovelinHove
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Small mercies in life come in strange packages.

Two people I know, absolute pain in the preverbials, always digging at those they're jealous of, but of course they own the best car on the street, yaddayadda.

Well, last week they bought a house.

I could not wish that wonderful gift, at this perfect moment in time, upon anyone else more deserving than they.

Today is that little bit brighter.

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2 minutes ago, Blink said:

Small mercies in life come in strange packages.

Two people I know, absolute pain in the preverbials, always digging at those they're jealous of, but of course they own the best car on the street, yaddayadda.

Well, last week they bought a house.

I could not wish that wonderful gift, at this perfect moment in time, upon anyone else more deserving than they.

Today is that little bit brighter.

Yep, time to stand by and let others be the greater fools. Rightmove has proven that greedy seller are intent on grabbing the benefit of the SD holiday, and if for no other reason, I will not grant them that satisfaction. January will feel very different. Winter is coming.

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Nothing to say to this news other than BRILLIANT.  I keep trying to be optimistic but a couple where I live who have been trying to sell their (overpriced) house for nearly two years have had two viewings recently that I know of.  Stories in the media like this just might unsettle a few potential buyers and start the slide in prices sooner.

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19 minutes ago, dougless said:

Nothing to say to this news other than BRILLIANT.

The current hubristic attitude of potential vendors will go into reverse with MMR,  the ending of blanket furlough, the destruction of Zombie companies, and increasing unemployment.  STC bounce will increase with the cold wake up call of reality.

 

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I got called by a well know estate agent firm yesterday because I expressed an interest in an online auction property about 6 weeks ago.  I quote him...

"To be honest, it is a buyers' market and a sellers' market at the moment because (pause).....of the stamp duty.  Have you heard about the massive tax savings in buying a property now?" 

I was trying to fathom how the market could be both when the next pearl of wisdom came...

"Now is the best time for years to buy because prices are on a definite incline"

Well I was keen to rush in then with this guy being so sincere in his efforts to help me and all, but then he got my name wrong and I am afraid that blew his credibility and made me feel like just one of a long list of potential suckers.

 

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31 minutes ago, JB1973 said:

I got called by a well know estate agent firm yesterday because I expressed an interest in an online auction property about 6 weeks ago.  I quote him...

"To be honest, it is a buyers' market and a sellers' market at the moment because (pause).....of the stamp duty.  Have you heard about the massive tax savings in buying a property now?" 

I was trying to fathom how the market could be both when the next pearl of wisdom came...

"Now is the best time for years to buy because prices are on a definite incline"

Well I was keen to rush in then with this guy being so sincere in his efforts to help me and all, but then he got my name wrong and I am afraid that blew his credibility and made me feel like just one of a long list of potential suckers.

 

Houses are on an incline, he is facing the wrong direction and will be trampled

 

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Don't buy another one........since most people that will benefit from freedom of SD will have to have a buyer in order to buy.....will all be down to what is selling and how long takes to sell if it sells.;)

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2 hours ago, HovelinHove said:

As I and many others have been saying, we are postponing our search till January.

Suits me fine! My siblings and I will be putting out late parents' house on the market in the next few months.

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1 hour ago, JB1973 said:

I got called by a well know estate agent firm yesterday because I expressed an interest in an online auction property about 6 weeks ago.  I quote him...

"To be honest, it is a buyers' market and a sellers' market at the moment because (pause).....of the stamp duty.  Have you heard about the massive tax savings in buying a property now?" 

I was trying to fathom how the market could be both when the next pearl of wisdom came...

"Now is the best time for years to buy because prices are on a definite incline"

Well I was keen to rush in then with this guy being so sincere in his efforts to help me and all, but then he got my name wrong and I am afraid that blew his credibility and made me feel like just one of a long list of potential suckers.

 

No.

Its a ;person who can get a mortgage' market.

The house down the road - 'Sold in 2 days!!!!!, W nker EA, card thru door - Do you want to sell your house? We have loads of buyers  waiting .... etc etc etc. Sat with Sold sign on for ~3 months. ..... Jungle drums ok local gossip, found out that buyer cannot get finance.

 

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28 minutes ago, PeanutButter said:

Lots of estates coming on.

Large number of towns have the housing market driven by probates.

Assuming we'll get wave after of covid or similar every year then its going to be fun.

Thats the problem with the over 60s pricing out the under 40s from housing.

MMR ate my bungalow....

 

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1 minute ago, 24gray24 said:

From what I've heard, the market is still running at about 40% (of the 50% it was running at post 2008).

Where's that honest EA who used to post on here? 

IIRC he fell off his bike and died from a heart attack.

And Im being honest about that.

 

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14 minutes ago, spyguy said:

IIRC he fell off his bike and died from a heart attack.

And Im being honest about that.

 

Sorry to hear that.....is there any more honesty about?;)

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52 minutes ago, PeanutButter said:

Lots of estates coming on.

Piece of advice...price to sell. I have been watching a couple of "Executor sales" and they start optimistic then because they are usually very old fashioned inside, don't sell...then panic sets in and repeated price drops follow as the various beneficiaries of the estate argue about either getting the money ASAP as they have spent it on a new Merc and 200in telly, while other can wait it out. You don't want to be these guys...

 

executor sale.jpg

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  • 417 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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