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Bearfacts

Meanwhile Back In The Real World

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In VI land house prices are booming and the future is bright for the property speculators. Money grows on trees and is heaped upon those who borrow beyond their means. But back in the real world ………… comes a true story to warm even the most Bullish of hearts on a fine summers evening…

Bumped into a lady I used to work with this afternoon. Hadn’t seen her for a year. Before she left we had been talking / moaning about house prices and I mentioned this site to her and advised her to investigate the market and not jump straight into buying when she moved to Rutland. Turns out she took my advice and in the light of the information she found on HPC decided not to buy straight away.

So she bided her time and watched and waited , she spotted a house she thought would do for her family and watched as the price came down from £485,000 to £385,000. She put an offer in at £325,000 and it has been accepted. Now had she listened to the VI bullsh*t machine she might have been tempted to offer the full asking price but thanks to HPC she was informed and waited and negotiated and has now saved herself the tidy sum of £160,000.

She has just had the house surveyed and found a few problems and is now planning to reduce her offer to cover the costs of repairs to £285,000. If this is accepted that would be a saving of £200,000 , achieved by being well informed as opposed to gullible and believing the VI spin machine.

So if you are reading this Mrs KK .. please let us know how it pans out and good luck !

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That's all very good, but wiping out £200k of speculative excess cannot really be defined as a 'saving'.

Agree with your comment about speculative excess but from where I am sitting it is still a saving.

Forgot to mention ...... Mrs B has been sounding out EAs and Developers down in Kent ... on the coast ... won't say where as I don't want to start a goldrush to a new upcoming property hotspot!.

Now Mrs B is very good a getting the real story from people and the word is that although property at the lower end is still moving the middle to upper ends of the market are dead with nothing moving. EA commented that ' it seems like people are waiting for something' ! ...... I wonder what, IR rises maybe ?!

She was talking to a developer who has been trying to flog a tarted up property for 18 months now with no success, inspite of hacking about £100k of his original asking price ! He was really surprised/ shocked when Mrs B said she knew exactly how much he had paid for it and how much profit he was therefore after ... dont think he was too bright ... bless.

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Mrs B has been sounding out EAs and Developers down in Kent ... on the coast ... won't say where as I don't want to start a goldrush to a new upcoming property hotspot!.

Folkestone?

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Now Mrs B is very good a getting the real story from people and the word is that although property at the lower end is still moving the middle to upper ends of the market are dead with nothing moving. EA commented that ' it seems like people are waiting for something' ! ...... I wonder what, IR rises maybe ?!

Probably a lottery win!

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Agree with your comment about speculative excess but from where I am sitting it is still a saving.

Forgot to mention ...... Mrs B has been sounding out EAs and Developers down in Kent ... on the coast ... won't say where as I don't want to start a goldrush to a new upcoming property hotspot!.

Now Mrs B is very good a getting the real story from people and the word is that although property at the lower end is still moving the middle to upper ends of the market are dead with nothing moving. EA commented that ' it seems like people are waiting for something' ! ...... I wonder what, IR rises maybe ?!

She was talking to a developer who has been trying to flog a tarted up property for 18 months now with no success, inspite of hacking about £100k of his original asking price ! He was really surprised/ shocked when Mrs B said she knew exactly how much he had paid for it and how much profit he was therefore after ... dont think he was too bright ... bless.

"the word is that although property at the lower end is still moving the middle to upper ends of the market are dead with nothing moving"

Unfortunately, Bearfacts, as a would be ftb...the lower end of the market is all that applies to me. It must be luxury to even consider the middle to upper end markets! Well done anyway for advising the lady..

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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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