To "do-up" Or Not: On The Bbc Breakfast Couch

[Sledgehead]

Well, the truth finally came out on BBC Breakfast. According to an EA and a Prop TV presenter, who supposedly agree...

All that developing means nothing WITHOUT a rising market ... BUT ... the market has stalled ... so doing up a place HELPS ... but 50% of newbuilds in the North & NE are vacant .... AND

Really revealing piece in which the TV presenter basically tried to shore up her view ratings whilst the EA told us developing was not for amateurs and most devs went Pete Tong.

But they still supposedly agreed. LOL!

So what was so revealing? Prior to the couch discusion we saw a clip of the silly TV presenter "in action". Breasing about a property with potential investors in tow, she was all knock this through, seal off that, pitch roof the other, bish-bash-bosh. When the peeps with the cheque book had the temerity to ask how much it would cost, her answer was a resolute, "I can't say exactly, but whatever it costs you won't lose money."

In the studio two seconds later, sat next to a grey-haired EA she suddenly looks a lot less confident. "I hope I'm not going to have to eat my words now" she says. Yeah love, think of your loss of reputation (you had none), but let's not spare even a nano-second of passing thought for the countless suckers you've persuaded to ditch careers to chase the dream you and your sort have peddled.

Edited June 26, 2007 by Sledgehead

[rollercoaster]

A tide turning moment - beeb allowing negative views of property porn to surface!

I liked the bit where they were speculating if in a rising market money was earned by the effort made by the property investor or the fact that the market was rising anyway .... "I suspect the latter" she replied. Also the recognition that doing up a place to rent may not be as easy as it would seem, and no promise of easy money!

[Saving For a Space Ship]

Well, the truth finally came out on BBC Breakfast.

All that developing means nothing WITHOUT a rising market ... BUT ... the market has stalled ... so doing up a place HELPS ... but 50% of newbuilds in the North & NE are vacant .... AND

Really revealing piece in which the TV presenter basically tried to shore up her view ratings whilst the EA told us developing was not for amateurs and most devs went Pete Tong

Yes, I thought that piece was going to be the usual old tripe with 2 jabba VI's on the couch, but no....

A few excerts... BBC woman presenter said 'we're all mortgaged up the hilt'

Vi's .....'Glut of rental properties'.........'sticky market'.......

.new buyers have no money left when buying a place so want a blank canvas they can afford to move into straight away (at no extra expense)..

Trevor Kent EA was full of warnings, saying doing up a propery was not easy etc.

EDIT: Appears Trev Kent is a big Anti-hips campaigner http://www.trevorkent.com/

(assuming he's same guy) beeb said he was former head of NAEA

Edited June 26, 2007 by Saving For a Space Ship

[PricedOutNative]

I've noticed my local Homebase is quieter these days...

[Sledgehead]

If the Beeb had any integrity they'd have grilled her on why her tone had moved from cocaine-high confidence on the prog to deferential doubter when faced with a grey haired EA with conflicting opinions (but let's not forget they were in "agreement" LOL)

[Sledgehead]

Okay, here's as much transcript as I can manage (I missed the first part, BUT what is said is VERY revealing as it shows how the so called experts contradict themselves. In other words their certainty is based ENTIRELY on the last idea they had (think Blair).

The EA will be known as E, the Presenter as P, beeb couch anchors as M (male - Dermott), and F (female - Sian):

E : " ... and they'll very often pay more to an EA for a house that needs doing up than for one that's already done up."

F : "2The the words needs modernisation can be a good thing/"

E : " Absolutely, that's why we put it in the ads so often. If you've got a lot of cash to sink into a project, you are looking for one that hasn't had it spent on it already."

M : "So is it thecase that you could just buy a wreck and in a rising market just sit on it?. You don't have to spend any money at all, you don't have to expend any effort, the price will go up(?)"

P : "Well, you said it there Dermott: 'in a rising market'. We've been very fortunate over the past years as the prices have scampered up by themselves.You genuinely haven't had to do anything. Peopel have spent money and made money over the past few years. Is it because of what they have done or because of the rising market? Well the answer is probably the latter....."

off camera E : "Yes."

P : "... but the point is when its a bit sticky and it's not a rising market, you do have to make a bit of effort. And although Trevor was saying that people do want to go in and buy something they can do up, the point is now that interest rates are rising we've got tp spend more of our diisposable income already, and a lot of people buying, especially the lower part of the market, haven't the money to spend on the property, so tey want something that they can move into, that they are not goung to have to do things to right away."

F : "[strident] that's a good point isn't it because we are all mortgaged up to the hilt... [realises what she's said, now sotto voce]... I suspect ...[to be in debt AND for it to hurt: the sin which dare not speak its name - LOL!] ..."

E : "... Yes, yes..."

F : " .. and don't have the money for improvements."

E : "... and if you are buying a house, doing it up and planning to rent it that's yet another risk, because we've an oversupply of properties available for rent at the moment, so you could spend twenty thousand doing up a property fro rent, stick it on th emarket and it won't go, so then yo are paying your mortgage, your having no income, you're in big trouble. [stares into eyes of beeb anchors with gravitas]It's not a game for amateurs. You've really got to be very careful."

M : "Well you agree with that Sarah?"

F : "Well there is an oversupply, but there is an oversupply in terms of quantity, not necessarily in terms of quality, so if you are renting your property, I think you do have to make th eeffort, because you need to be top of the pile. There is a lot of choice out there and you need to give people a reason [smiling at EA, almost pleading with him to concede ground here] to go for your property, not someone elses [smiles]."

E : "In the Midlands and the North there are 50% of brand new flats vacant, [emphasis] unlet, so condition itself doesn't win you the tenant all the time [stern]."

F : "I think we you you could go on and on arguing about this ..."

E : "We're not arguing ... "

F : "... discusing ...."

E : " ... we agree! [laughs]"

F : "Yes [doubtful]. Thank you very much the bothe of you for coiming in, very interesting."

[Fancypants]

Damn - missed it.

Thanks for taking the time to transcribe though Sledge!

[Saving For a Space Ship]

Ditto,

cheers sledge, you are a star.

As a bonus

Just caught a bit of 'Homes under the Hammer' and a couple who bought a property at auction, say they failed to read the auction contract & did not come up with the balance in time as their mortgage was not ready.

They had to pay another £20K extra or loose their £29K 10% deposit!

'Fines under the hammer' 'Btl'er beware'

Edited June 26, 2007 by Saving For a Space Ship

[Realistbear]

Can you feel a gentle breeze coming from the West? Its the headwinds of Great Crash 2.

[joey]

Ditto,

cheers sledge, you are a star.

As a bonus

Just caught a bit of 'Homes under the Hammer' and a couple who bought a property at auction, say they failed to read the auction contract & did not come up with the balance in time as their mortgage was not ready.

They had to pay another £20K extra or loose their £29K 10% deposit!

'Fines under the hammer' 'Btl'er beware'

Now they definetly earn the name Muppet.