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Change Of Tune For Brighton's E As

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A couple of weeks ago, Brighton & Hove's 'Latest Homes' mag (weekly glossy full of estate agents' ads and property ramping advertorials) had a letters page with various agents scoffing at the idea of a market slowdown and implying that the serious investor should buy now before prices lurch up again (I wish I could find my copy, but I think it's been thrown away - anyone else have one they could scan)?

This week the tune has definitely changed - see attached scan. Mishon Mackay is probably the B&H equivalent of Foxtons. I think the guy running it has his head screwed on.

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A couple of weeks ago, Brighton & Hove's 'Latest Homes' mag (weekly glossy full of estate agents' ads and property ramping advertorials) had a letters page with various agents scoffing at the idea of a market slowdown and implying that the serious investor should buy now before prices lurch up again (I wish I could find my copy, but I think it's been thrown away - anyone else have one they could scan)?

This week the tune has definitely changed - see attached scan. Mishon Mackay is probably the B&H equivalent of Foxtons. I think the guy running it has his head screwed on.

Mishon Mackay are postioning themselves to be the EA of choice in Brighton by stating the bleeding obvious, 6 months too late.

I thought the doughnuts letter afterwards was funny, and it seems to imply that Estate Agents know much more about the property market in Brighton and don't need to look at credit availability to price a house at all. :lol:

Edit to add:

I would say that it is significant that the EA is saying there are more viewings per property in order to get a sale. That may well account for the increased "interest" that EAs are reporting, and also possibly that buyers are forcing prices down by not buying if there is no deal to be had. It means as well that "green" EAs are having to offset much more carbon to get a sale. ;)

Edited by bobthe~

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A couple of weeks ago, Brighton & Hove's 'Latest Homes' mag (weekly glossy full of estate agents' ads and property ramping advertorials) had a letters page with various agents scoffing at the idea of a market slowdown and implying that the serious investor should buy now before prices lurch up again (I wish I could find my copy, but I think it's been thrown away - anyone else have one they could scan)?

This week the tune has definitely changed - see attached scan. Mishon Mackay is probably the B&H equivalent of Foxtons. I think the guy running it has his head screwed on.

Latest Homes letters page was supposed to give others a chance to reply (see Brighton thread). I suppose they want to hang on to their advertising revenue a bit longer. I threw my copy also but you may be able to find it online.

Mishon McKay is made up of Glen Mishon and Alex McKay and I was told by another EA a third silent partner. They are favoured by the Hove Park residents so must be having a hell of a time trying to shift any of it especially when you come up against the Hove Park attitude. MishonMcKay have quite a few branches so costs must be crippling. OP on Brighton thread mentioned they didn't sell one property at their Preston Park branch during December.

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I must say, that Barrie Alderton talks alot of sense.

I've never thought about correlation factors between residential and jam doughnuts before, but now he mentions it....!

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Can anyone tell me what happened in the US market regarding this house price stand off we have in Britain right now? Did the same thing happen in the states? Who was it that got the ball rolling in terms of reductions?

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I must say, that Barrie Alderton talks alot of sense.

To paraphrase:

Sold prices are falling. Sales volumes are falling. The amount of work we have to do to get a sale is increasing. We are reducing staff, advertising and other costs. A couple of our competitor's offices have closed down.

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About time some of them were honest.I sold my flat last year and am renting for reasons of health not greed! Every house i viewed in the last 9 months is still for sale and none have dropped their prices bar one which went from 279 to 264 ????????? This will give the other agents who wrote to the argus in fury wrt to the housing market food for thought and probably won't do Mishons any harm either as buyers and sellers see them as the face of sanity in the madness of the Brighton property market

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King Stromba,

Yes, talked all the way up to the top with the same drivel and then............

http://www.nytimes.com/2007/08/26/business...agewanted=print

Top government officials were more circumspect but still doubted that the prices would decline nationally. Alan Greenspan, the former Fed chairman, said the housing market was not susceptible to bubbles, in part because every local market is different.

In 2005, Ben S. Bernanke, then an adviser to President Bush and now the Fed chairman, said “strong fundamentals” were the main force behind the rise in prices. “We’ve never had a decline in housing prices on a nationwide basis,” he added.

...

Perhaps the most prominent housing booster was David Lereah, the chief economist at the National Association of Realtors until April. In 2005, he published a book titled, “Are You Missing the Real Estate Boom?” In 2006, it was updated and rereleased as “Why the Real Estate Boom Will Not Bust.” This year, Mr. Lereah published a new book, “All Real Estate Is Local.”

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King Stromba,

Yes, talked all the way up to the top with the same drivel and then............

http://www.nytimes.com/2007/08/26/business...agewanted=print

Top government officials were more circumspect but still doubted that the prices would decline nationally. Alan Greenspan, the former Fed chairman, said the housing market was not susceptible to bubbles, in part because every local market is different.

In 2005, Ben S. Bernanke, then an adviser to President Bush and now the Fed chairman, said “strong fundamentals” were the main force behind the rise in prices. “We’ve never had a decline in housing prices on a nationwide basis,” he added.

...

Perhaps the most prominent housing booster was David Lereah, the chief economist at the National Association of Realtors until April. In 2005, he published a book titled, “Are You Missing the Real Estate Boom?” In 2006, it was updated and rereleased as “Why the Real Estate Boom Will Not Bust.” This year, Mr. Lereah published a new book, “All Real Estate Is Local.”

Thanks for the info.

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Barrie Alderton is an absolute legend - great guy and a damn good estate agent.

I remember years ago having trouble selling my flat. I went to see him and we agreed that he could sell it, I drove home and by the time I got home he phoned and said 'I have the flat sold.'

Bloody genius I thought, easy £900 commission (the good old days of flat prices) and then on further reflection thought it may have been underpriced.

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Can anyone tell me what happened in the US market regarding this house price stand off we have in Britain right now? Did the same thing happen in the states? Who was it that got the ball rolling in terms of reductions?

1. New build discounts

2. Reposession levels that fed knock down auction prices

3. Debt levels--OOs had to sell or file bankruptcy

4. Job losses (yet to hit in the US)

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About time some of them were honest.

There are no doubt some honest ones , the real problem imo for most EA'S is the sheer DENIAL of whats happening in there beloved housing market , they just can't accept that 6 months ago everything was OK although they were selling less properties , enough was selling at high prices to keep the market going .

Now there selling nothing and there business running costs are really hurting them :D , and they can't see any improvement in the near future......................shame :lol:

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  • 295 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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