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Peregrine

Don't Buy Until The End Of The Year - Estate Agent Recommends

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I have been househunting for a couple of months now, but have been reluctant to make any serious offers as the current media speculation is wavering between 'prices remain stable' and 'House crash imminent' headlines.

I am so fed up with being kept in the dark, that I decided that on my last property viewing, I would ask the agent showing me the property for an honest opinion (I wasn't expecting one!).

He was gob-smackingly honest in his reply and told me that

'I know I shouldn't be telling you this, but don't buy anything until September if you can help it.House prices have dropped 10% already since December and our vendors are desperate, they are knocking 40 to 50 Grand off their prices if you offer that to them.I reckon that as much as 30% could come off the prices.The market is in a s**t state.To be honest, I'm worried about my job.If you are in a rental than my advice is to stay there, if you don't have to move, then don't.Nobody is buying or selling unless they have to, normally at this time of year we have loads of people coming on to our books.Right now nobody is moving because nobody knows whats' happening'.

Blimey, straight from the horses mouth exactly what I needed to hear.Happily, my doubts are cleared up.I'm staying put and will rent until the end of the summer, bulk up my deposit and decide what to do then

Edited by Peregrine

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Hello and welcome. Interesting anecdote. Could you let us know what area you are in county would do.

edit for spelling

Edited by tigsrenting

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It will all be over by Xmas then.

2012 that is.

That's a very bearish post for a bull. ;)

Oh, and welcome to the forum. Nice anecdotal.

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oh I'm definitely a bull,

a very tethered one straining to buy a new home, and not wanting to believe the fluff and hype of the media.........

but my bearish friends, relatives - and now estate agent - are telling me to pause for a while before charging ahead to buy ;)

Thanks for the welcome :lol:

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oh I'm definitely a bull,

a very tethered one straining to buy a new home, and not wanting to believe the fluff and hype of the media.........

but my bearish friends, relatives - and now estate agent - are telling me to pause for a while before charging ahead to buy ;)

Thanks for the welcome :lol:

Welcome on board,

This reminds me of when watching a football match and someone handballs and 40,000 people shout Handball and the only person who does not agree is the ref.. :lol:

I think the advice to wait is good advice and I also think that if you do wait and get to September you may even decide to wait a bit longer, it could make a huge difference to your life.

Maybe you will go from a Bull :( to a neither :unsure: to a bear :lol:

Anyway lots of us are mad on this site and I wish you the best of luck and keep contributing.

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oh I'm definitely a bull,

a very tethered one straining to buy a new home, and not wanting to believe the fluff and hype of the media........

If prices come down, as is generally expected, you'll get a cheaper new home in a few months.

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Welcome,

Hope you have sharp horns to repel attacks by the hords of Bears...

Good luck with finding somewhere to live. My firm manages lots of BTL in Watford. It's very hard to get them to pay for service charges and lots are getting repo'd.

Start reading MoneyWeek...here's the editor sepaking a few month ago.

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oh I'm definitely a bull,

a very tethered one straining to buy a new home, and not wanting to believe the fluff and hype of the media.........

but my bearish friends, relatives - and now estate agent - are telling me to pause for a while before charging ahead to buy ;)

Thanks for the welcome :lol:

Welcome. Those are some smart friends and rellies you have there. How did you get that type? Mine are all the other type, sadly.

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Well, now I've heard everything... The odd EA does actually seem, finally, to be coming clean. Maybe they've got religion or something?

Most of the EA's in South Farnham are still full of the "no problem" "just a small correction" "plenty of interest around" BS.

BUT..... this morning someone from John D Wood told my mate's wife - when she said they weren't thinking of moving out of their rented place until Q4 2008 EARLIEST - that it was "very likely a prudent move..."

EA's not furiously ramping the market in the leafy lanes of Surrey? Whatever next? I hope they don't start a witch hunt for the poor chap, because he won't last five minutes if he's caught not BS'ing his ears off to anyone who will listen :ph34r:

The trickle's starting - slowly - to turn into a torrent. I can't wait to see where it ends up.... :blink:

Take care one and all.

B.

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He was gob-smackingly honest in his reply

Call me a massive cynic if you like but I'd imagine he was calculatingly giving the appearance of being honest to raise his credibility with you so that when he rings you up in a few weeks with a property that's "priced so competitively it's worth buying even in the current market" you might believe him and go for it, after all he was so honest with you earlier.

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Not totally surprised by this . In August my girlfriend and I were looking at a house . We went to see a financial advisor(based at the EA) before deciding what offer to put in . He said to us ,as we were leaving his office "don't forget , it's a buyers market , but don't tell that lot out there (meaning the EA's) that I told you that !

We have since been unable to go ahead with the purchase , due to divorce issues (long story ) but the house has since been re possesed and is still on the market !

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Call me a massive cynic if you like but I'd imagine he was calculatingly giving the appearance of being honest to raise his credibility with you so that when he rings you up in a few weeks with a property that's "priced so competitively it's worth buying even in the current market" you might believe him and go for it, after all he was so honest with you earlier.

Cheers for the tip, I'm sure these young shiny-suited snakes will employ all the tactics at their disposal once it gets really desperate.

They will all be signing up for Derren Brown NLP mind control classes next ........

jungle_book5.jpg

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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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