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music man

Repossessions Are Distorting The Facts

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I wrote a similar piece on the forum but believe this topic is worth your comment alone.

http://www.housepricecrash.co.uk/forum/ind...c=33892&hl=

I was in an Estate Agency last week in Thetford and was told by the EA that they had 8 reposessions in 3 weeks and have put them up above market value. This is just one Estate Agency.

This influences Rightmove and the usual suspects (Halliwide etc.) statistical analysis as they don't record the drop in asking prices.

It's a bloody scam and it's reported as truth in all the mass hysteria / sorry mass media.

Once more we are lied to and I wondered how people feel and what knowledge we have of national repossessions. If we can assume the total amount of repossessions were put on at 5% above market value and sold at 15% off market value we can state a fairer depiction of the market place.

I think it would knock the sh1zen out of the officially obtuse stats we have without too much conjecture.

I'm sure we could also analyse the actual difference in these asking and selling prices in time - but stats are good - and can be helpful if the right info is put in.

It just isn't the case that info is true to life with this countries housing industry cartel.

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discounts on new builds also distort the figures........free furniture , cashback deals etc make it seem house has gone for higher than the true ''de facto '' price....eg developer sells BTL flat saying he'll pay first two years' rent ...This is a defacto 10% price cut but will not appear in the Halifax and LR figures as the official selling price remains at the higher level...

Edited by Michael

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Guest muttley

.

This influences Rightmove and the usual suspects (Halliwide etc.) statistical analysis as they don't record the drop in asking prices.

I don't understand your point. The EAs are not forced to market repossesions at lower prices. They will ask whatever they think they will get.

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I was told Estate Agents ask above market price for the repossessed house on the initial asking price and then in time lower that value - I don't know / haven't found out what the time scale and what the % drops are.

This distorts Rightmoves figures for instance because they do not record and reassess their stats when a lowering in asking price occurs.

It's a scam.

I can sell you any product for a pound, if we haggle. But if I have it for sale at £10 ten I can record the stats as a 1000% increse if I was rightmove I infact would.

It appears to be misusing the details to portray what one wishes.

And it happens all the time.

It gets me down at times (which is a really important psychological issue that influences markets) yet also reminds me how bad it must be for all the tricks to have to come out of the propaganda bag.

You guys taught me this in many ways and with a psychology degree that never mentioned Edward Bernaise I have no psychology degree.

It's just a scam - the most important psychologist in the last 100 years is not taught in a psychology degree.

http://www.archive.org/details/AdaCurtisCenturyoftheSelf_0 and you'l see how the wording for nazi propaganda is now the wording for public relations in Western society.

It's all about image - Tony once said to me.

Edited by music man

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Guest muttley

I was told Estate Agents ask above market price for the repossessed house on the initial asking price and then in time lower that value - I don't know / haven't found out what the time scale and what the % drops are.

This distorts Rightmoves figures for instance because they do not record and reassess their stats when a lowering in asking price occurs.

It's a scam.

Aah, I understand your point now. Yes, this would affect the Rightmove figures, but I believe the Halifax and Nationwide figures are based on mortgage approvals, so would not be affected.

There's a huge pinned thread devoted to Rightmove price calculations on this forum.

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Aah, I understand your point now. Yes, this would affect the Rightmove figures, but I believe the Halifax and Nationwide figures are based on mortgage approvals, so would not be affected.

And Mortgage approvals do not measure house prices which is my point.

What are they measuring? - everything but house prices so the headline that states that house prices are going up have no way of knowing it.

It's a scam.

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Guest muttley

And Mortgage approvals do not measure house prices which is my point.

What are they measuring? - everything but house prices so the headline that states that house prices are going up have no way of knowing it.

It's a scam.

Land Registry figures show house prices are going up too. Those are calculated from actual resale figures.

I know it's frustrating, but it's not a scam.The fact that you do not trust blindly the statistics fed from the national press is probably a good thing, but don't expect any help from rightmove or Haliwide. Look at the figures and decide what is best for you.

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Guest muttley

Cheers Mutley - you know the obvious 911 cover up has caused a lot of false media that confuses us all.

I don't know who to believe anymore.

911 cover up. Yikes!

Journalists are not necessarily dishonest, just lazy enough to print any story that someone else is prepared to write for them.

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911 cover up. Yikes!

Journalists are not necessarily dishonest, just lazy enough to print any story that someone else is prepared to write for them.

a.k.a. public relations a.k.a. propaganda.

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911 cover up. Yikes!

Journalists are not necessarily dishonest, just lazy enough to print any story that someone else is prepared to write for them.

When Tony first came to power they took over the Dome project in London which was getting soem bad publicity. The first thing labour spin doctors did was employ some wannabe young journalists who would write upbeat stories. These stories would get recycled by lazy papers who couldn't be bothered to find their own story. Thats what Tony has done consistently with every other issue. Spin it for all its worth and then spin some more for good luck.

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Cheers Mutley - you know the obvious 911 cover up has caused a lot of false media that confuses us all.

I don't know who to believe anymore.

That comment has massively helped your credibility on the forum. I will take you seriously from now on.

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I was in an Estate Agency last week in Thetford and was told by the EA that they had 8 reposessions in 3 weeks and have put them up above market value. This is just one Estate Agency.

When a house is reposessed it's usually because the owner has defaulted on a mortgage and the creditor wants to recover as much of their money as possible, but also as quickly as possible so they can then lend the money out to someone else.

If the housing market is still very active, and an estate agent tells them they could shift the house at full market price within a few weeks, then they would obviously agree to this.

Right now, this would still be the case.

If house prices start to fall, then they will look to sell the property as quickly as possible to recover as much as they can.

When the crash finally begins in the next few months, the rate of reposessions will soar.

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MusicMan,

DO NOT take any notice of Rightmoves figures. The press started dismissing them when they floated on the SM. We know that their methodology is so open to abuse that its as accurate as anything you or I might make up!!! We know that the RM figures are based on what the EA's put into the system (VI's) so its NOT AN INDEPENDENT SURVEY so dont lose sleep over it.

Its like me doing a review of a Liverpool vs Manchester United game. Think I will give a fair assessment?????

DOUBT IT!!! ;)

TB

Edited by teddyboy

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If the housing market is still very active, and an estate agent tells them they could shift the house at full market price within a few weeks, then they would obviously agree to this.

In fact, they'd be legally obliged to do so.

(Not that I totally believe the detail of the original posting.)

p

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The market isn't very good and they do go bmv from the EA's wording.

He mentioned that the game begins when one considers how much they will let it drop and getting in at that right price, many would buy it if was put on sale at the diminished sale price.

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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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