jimchayts Posted February 6, 2009 Share Posted February 6, 2009 Thanks that's cleared that up.Looked at rightmove today no reductions in Hove for a while, one chancer has even put the price up. This Halifax survey will give some vendors fresh hope so they will be even more bullish about reducing their prices and of course it is the amunition that the likes of Avards and others will use to try and convince buyers (ones that don't know this site) that now is the time to get on that ladder. You're absolutely right. This tiny rise will set us buyers back a few months as the vendors continue to cling to false hope of prices rising again. I think housepricecrash should make a neat 1 page PDF that summarizes the whole situation - then people could print it off and post it through the doors of vendors that we are interested in buying from. Direct action may be the only way of bursting the bubble of ignorance. Quote Link to comment Share on other sites More sharing options...
UndercoverElephant Posted February 6, 2009 Share Posted February 6, 2009 (edited) You're absolutely right. This tiny rise will set us buyers back a few months as the vendors continue to cling to false hope of prices rising again. I'm not sure this is true. If it uniformly affected all vendors then it would be true, but given there is such a small volume of sales I think it won't matter. Sure, quite a few vendors will react in this way, but that just means they are destined to join the large number of people who have no hope of selling their house. Provided there are still a few forced sales and a few vendors who aren't fooled by the statistics, prices will go on falling and the rate will probably increase. People trying to sell houses are in a race to grab the attention of the tiny pool of people who are seriously thinking about buying. All this statistic will do is stretch the field between the cutting edge of the market where sales are actually happening and the larger body of vendors-in-denial. Edited February 6, 2009 by UndercoverElephant Quote Link to comment Share on other sites More sharing options...
shell Posted February 7, 2009 Share Posted February 7, 2009 You're absolutely right. This tiny rise will set us buyers back a few months as the vendors continue to cling to false hope of prices rising again.I think housepricecrash should make a neat 1 page PDF that summarizes the whole situation - then people could print it off and post it through the doors of vendors that we are interested in buying from. Direct action may be the only way of bursting the bubble of ignorance. Agree need bit of direct action. HPC all talk no trousers. Would have thought average FTB might be up for a bit of witty, publicity generating protest. Look at the publicity generated by the anti airport brigade and the recent protests in France. Re Halifax rise, I think general public are so scared re economy / jobs / banks they won't be rushing out to buy. Rents are going down, too, so not that much motivation. Brighton house / rent prices definitely going down in Hove. Poets Corner noticeably so. Haha! Quote Link to comment Share on other sites More sharing options...
jimchayts Posted February 7, 2009 Share Posted February 7, 2009 Agree need bit of direct action. HPC all talk no trousers. Would have thought average FTB might be up for a bit of witty, publicity generating protest. Look at the publicity generated by the anti airport brigade and the recent protests in France. Absolutely. Like I said, a standard well laid out letter which starts 'Dear Homeowner, We are interesting in your house but thought it appropriate to inform you of some of the thinking behind our offer: Some Graphs showing rise and fall. Article about predicted fall and REASONS FOR IT including the potential length of the downturn. Some checkable URL's to follow up. and finally... 'in light of this we have offered x amount for your property which as you will see is x% less than peak price, but far from the projected fall of y. We hope that you will be able to make your own investigations and seriously consider our offer. Quote Link to comment Share on other sites More sharing options...
tigsrenting Posted February 7, 2009 Share Posted February 7, 2009 Absolutely. Like I said, a standard well laid out letter which starts 'Dear Homeowner, We are interesting in your house but thought it appropriate to inform you of some of the thinking behind our offer: Some Graphs showing rise and fall. Article about predicted fall and REASONS FOR IT including the potential length of the downturn. Some checkable URL's to follow up. and finally... 'in light of this we have offered x amount for your property which as you will see is x% less than peak price, but far from the projected fall of y. We hope that you will be able to make your own investigations and seriously consider our offer. I prefer this strategy. http://www.housepricecrash.co.uk/forum/ind...howtopic=103900 Quote Link to comment Share on other sites More sharing options...
gersuk Posted February 10, 2009 Share Posted February 10, 2009 According to The Argus....."House hunters returning to market" http://www.theargus.co.uk/uk_national_news...ning_to_market/ Looks like the comments has been disabled Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted February 10, 2009 Share Posted February 10, 2009 According to The Argus....."House hunters returning to market"http://www.theargus.co.uk/uk_national_news...ning_to_market/ Looks like the comments has been disabled Yep, I bet they are all rushing in to grab a bargain like this : http://www.rightmove.co.uk/property-for-sa...sSinceAdded%3D1 600K for a two bed flat, with one reception room. PMSL!!! Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted February 10, 2009 Share Posted February 10, 2009 (edited) or you could go for the cheapest option in the block - only 500K.... Edited February 10, 2009 by lorna1999 Quote Link to comment Share on other sites More sharing options...
The Conveyancer Posted February 10, 2009 Share Posted February 10, 2009 Yep, I bet they are all rushing in to grab a bargain like this : http://www.rightmove.co.uk/property-for-sa...sSinceAdded%3D1 600K for a two bed flat, with one reception room. PMSL!!! But its got a sun terrace, that itself must be worth half a mil in Brighton Quote Link to comment Share on other sites More sharing options...
hausfrau Posted February 10, 2009 Share Posted February 10, 2009 Yep, I bet they are all rushing in to grab a bargain like this : http://www.rightmove.co.uk/property-for-sa...sSinceAdded%3D1 600K for a two bed flat, with one reception room. PMSL!!! OMG....what???? Who exactly would even contemplate spending that much for a flat nowhere near anything at all? I want whatever drugs those people are on Quote Link to comment Share on other sites More sharing options...
hausfrau Posted February 10, 2009 Share Posted February 10, 2009 Oh.. and stupid question time...what does PMSL mean? And while we are at it.. MEW? Quote Link to comment Share on other sites More sharing options...
lorna1999 Posted February 10, 2009 Share Posted February 10, 2009 Oh.. and stupid question time...what does PMSL mean? And while we are at it.. MEW? Ahem, P*ss MySelf Laughing and Mortgage Equity Withdrawal... Don't fancy the flat then?! Quote Link to comment Share on other sites More sharing options...
LiveAndLetBuy Posted February 11, 2009 Share Posted February 11, 2009 The 10 towns where house prices will bounce back first: http://timesbusiness.typepad.com/money_web...ial-buyers.html BN3 comes out top, BN2 third. Where do they get the stats from? They asked Rightmove for the most searched for postcodes in the first 2 weeks of January. They then use Rightmove asking price figures to show that prices in Brighton & Hove have actually gone up in the last few months, when all other data shows they have fallen. This is just a pathetic manipulation of statistics - trying to spin everything in a positive light rather than telling it as it is. I think it could be worth leaving a few comments at the bottom of the article, and perhaps it could also be worth searching by place name rather than postcode on Rightmove in the future, so it might not show up in their stats. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted February 11, 2009 Share Posted February 11, 2009 Halifax (Estate Agency) in St George's Road Kemptown closed; I wonder when? What price the spring bounce?! Quote Link to comment Share on other sites More sharing options...
tigsrenting Posted February 11, 2009 Share Posted February 11, 2009 I heard another agent in the number one top of the list place BN3 area had gone bust yesterday, but as the place is still trading will try and find out more. Something else apparently the council are still selling off council stock with this right to buy scheme. I thought all that finished years ago. Beggars belief :angry: Quote Link to comment Share on other sites More sharing options...
hausfrau Posted February 11, 2009 Share Posted February 11, 2009 In this weeks Latest Homes (which is again stapled yipee)... Fox and Sons Public Notice stating they have an offer of £175K for Flat 2, 8 postcode BN2 1AP....last sold 2 May 07 for £250K Quote Link to comment Share on other sites More sharing options...
CviewUK Posted February 11, 2009 Share Posted February 11, 2009 Some B&H lots in the Fox & Sons auction on 19th February: http://www.foxandsonsauctions-brighton.co.uk/ Quote Link to comment Share on other sites More sharing options...
CviewUK Posted February 12, 2009 Share Posted February 12, 2009 From The Times link: Bargain property: Varndean Road, Brighton, East Sussex, BN1. Four bedrooms and three reception rooms with seperate stable block and coach house. Price reduced from £1.75 million to £1.1 million From Property-Bee: History date event 17 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old grooms groom’s cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by i wanna house] 15 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old groom’s grooms cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by andyo] 13 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old grooms groom’s cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by i wanna house] 12 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old groom’s grooms cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. 05 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old grooms groom’s cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by i wanna house] 04 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old groom’s grooms cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by lorna1999] 01 January 2009 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old groom’s grooms cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by robin_reid] * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old grooms groom’s cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by i wanna house] 31 December 2008 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old grooms groom’s cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by drummone] 06 December 2008 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old groom’s grooms cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by Gaspode] 05 December 2008 * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old groom’s grooms cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. * Subtitle changed: from '4 bedroom detached' to '4 bedroom detached house ' * Brief Description changed: An unusual and spacious, detached mid-Victorian property rich in history and offering unique character and architecture. Originally the old grooms groom’s cottage, stable block and coach house belonging to Withdeane Lodge, the property is now fully restored and extended & provides spacious accommodation. [Found by i wanna house] 04 September 2008 * Price changed: from '£1,250,000' to '£1,100,000' [Found by monkeymagic] 12 August 2008 * Price changed: from '£1,275,000' to '£1,250,000' [Found by peterure] 01 July 2008 * Price changed: from 'POA' to '£1,275,000' 22 April 2008 * Price changed: from '£1,600,000' to 'POA' [Found by renewable] 13 February 2008 * Price changed: from '£1,750,000' to '£1,600,000' [Found by mdtarzi] 05 January 2008 * Initial entry found. [Found by THEUKCRASH] Quote Link to comment Share on other sites More sharing options...
jimchayts Posted February 13, 2009 Share Posted February 13, 2009 So now I'm told by the EA that this recession is very different from the 90's, when there were loads of signs up on every street. The lack of instructions is keeping prices stable (apparently), although the same old sh#t is still hanging around on rightmove like a pile of overpriced dung that needs to be cleared out. No-one selling and no-one buying! Quote Link to comment Share on other sites More sharing options...
shell Posted February 13, 2009 Share Posted February 13, 2009 No-one selling and no-one buying! On the other hand, that latecomer to the Brighton boom scene, Zillis . . . has shut! Boom-years businesses going bust. It's only a matter of time . . . Quote Link to comment Share on other sites More sharing options...
tigsrenting Posted February 13, 2009 Share Posted February 13, 2009 There were lots more for sale signs in the 90's but the Council stopped all that in many conservation areas. How old was the Ea? Quote Link to comment Share on other sites More sharing options...
podwell Posted February 14, 2009 Share Posted February 14, 2009 Hi All, First post so be gentle.. Am living in Hove but looking to buy, am keeping my flat but have a deposit saved and mortgage agreed. Looking in the region of £500k - £800k, a large range as a bargain would be nice! Have been looking at all the posts, makes good reading and I agree with the frustrations of dealing with deluded EA's and Vendors. Did a bit of detective work on this quote from Mishon Mackay posted by tigsrenting on Feb 2 2009, it is from Latest Homes, well, at least we all thought it was! Check this out... "If history repeats itself it could be 2324 before interest rates are as low again. This rather suggests that now is as good a time as any to take advantage of these rates and enter the property market. With prices back to 2003 levels - when there was huge activity in the market - this makes even more sense". Do a google search on the above and you hit this: Source: http://www.samuelwood.co.uk/index.php?page=press 1694 Anthony Wood of Samuel Wood & Co reflects on the latest interest rate news and comments on the great opportunities offered in the current property market. Interest rates have now been cut to 1.5 per cent. The last time they were as low as this was 1694 when the Bank of England was established to manage mounting debts. Nothing changes. In England at that time William III was on the throne, it was the beginning of the William and Mary period. Peter the Great was the Russian Czar. Handel and Bach were young music prodigies, and Isaac Newton was greatly influencing scientific thought. Following the Pilgrim Fathers, British and Dutch settlers were continuing to colonise North America, where two years before 19 women were hung in the Salem Witch Trials in Massachusetts. If history repeats itself it could be 2324 before interest rates are as low again. This rather suggests that now is as good a time as any to take advantage of these rates and enter the property market. With prices back to 2003 levels - when there was huge activity in the market - this makes even more sense. When prices are high the media delight in charting the plight of key public sector workers in nursing, the police, the fire brigade and other essential services who are unable to climb on the housing ladder close to their work. Well, now is the chance to end that. Sadly many people are being placed into negative equity by the price downturn - with all the attendant problems this brings. But for the many hundreds of thousands of people waiting for the opportunity to move out of rented property or their parents homes this could be the perfect moment. Yet a large hurdle remains, securing a mortgage. Mortgages are available, but deposit demands from the lenders remain high. Wouldn't it be sensible for the government and the lenders to recognise the opportunity this price correction brings, and to start helping first time buyers now through easing mortgage demands or a Stamp Duty moratorium, or preferably both. This would create the best opportunity to kick-start the housing market and, through the knock-on effect, a significant portion of the service and retail economy. Date: 8/01/2009 Thoughts?? Quote Link to comment Share on other sites More sharing options...
shell Posted February 14, 2009 Share Posted February 14, 2009 But for the many hundreds of thousands of people waiting for the opportunity to move out of rented property or their parents homes this could be the perfect moment. Could be the perfect moment. But when prices go down to 1995 levels, it'll be a better than perfect moment. Quote Link to comment Share on other sites More sharing options...
LiveAndLetBuy Posted February 14, 2009 Share Posted February 14, 2009 (edited) All things being equal, it is better to buy when rates are high, not when they are low. Property tends to be cheaper when rates are high because mortgages are less affordable. Then when rates do come down you find yourself in a win-win situation: the price of your property increases while your mortgage payments decrease. This is precisely what happened to those who bought when interest rates were relatively high back in the 90s. Conning people into buying because "rates are low" was perhaps the most repulsive of all tricks played by the mortgage lenders during the housing boom. Edited February 14, 2009 by LiveAndLetBuy Quote Link to comment Share on other sites More sharing options...
jimchayts Posted February 16, 2009 Share Posted February 16, 2009 I'm wondering if we should jack in Brighton altogether and look towards Shoreham. Perhaps the vendors there are more realistic! Quote Link to comment Share on other sites More sharing options...
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