Tuesday, June 19, 2007

you will soon need a chit for a sh……t

Sellers rush to beat delayed home packs

Homeowners continued to rush to put their property on the market in June to avoid home information packs, despite the delay to their launch. Sellers rushing to beat the launch of home information packs brought 10% more property onto the market

Posted by out of control speculators @ 09:25 PM (466 views)
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5 thoughts on “you will soon need a chit for a sh……t

  • Hahahahaha! Who is buying this crap? Nothing to do with people cashing in on the biggest bubble in recent history of course, it’s all those pesky HIPs causing the flood and the eventual crash.

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  • “Ironically those that sought to save a few hundred pounds by avoiding Hips have contributed to a glut of property on the market which will actually cost them money as they will have to discount their prices to sell.’

    do you really believe this???

    if the article link does not work, try this

    http://www.dailymail.co.uk/pages/dmstandard/frame.html?in_bottom=http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=421443&in_page_id=57

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  • Spoke to 3 agents today on this subject. They all said that they had never been so busy with new instructions during the weeks prior to 1st June. This would seem to be verified by the increase in number of ‘for sale’ boards on display in the area. These particular agents are of the opinion that the market is cooling, but I am not convinced as we have not (as yet) seen any reduction in the number of daily valuations we undertake, and the sale prices achieved also seem to be just as silly. One property I saw last week was put on the market recently at £199,950 and sold in days for £199K. The strange thing is that the house had been on the market for nearly 2 years with another agent at £195K and had been withdrawn in January having generated no interest whatsoever.

    At the other end of the scale, I know of 2 houses that have recently sold in this area for £1.3 million and £1.9 million respectively. The £1.3 million one went over the asking price due to competing bids. The other had been on the market for 2 years with limited interest.

    I suppose the feedback I get from the agents I see tomorrow will totally contradict todays views. I’ll only believe it when they all consistently sing the same song. Same goes for the media reporting, which is either bull or bear depending on the paper concerned (and the day of the week, apparently).

    Keep the sheeple confused!!!

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  • Planning4acrash says:

    P.d off, wait a bit, the last rate rises haven’t fed through yet and the market is only just getting used to higher bond yields over the past few weeks. Give it time. Once things have fed through, and pressures keep rising, expect a change of sentiment. It is unlikely that such a change will be gradual. A grossly overvalued market suddenly goes into freefall, the exact timing taking everybody by surprise once there is a consensus that the fundamentals are flawed. The thing is, that it is easy to predict that there will be a consensus, but it is impossible to determine the precise moment when a critical mass of investors and buyers decide that a correction or crash is required to unwind a market to a new equilibrium.

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  • Planning4acrash says:

    This is interesting. Just read the article, there appears to be a ‘consensus’ that this upturn in available properties is all about HIPS. Sure, they are one factor, but it is easy to treat the government as a scapegoat and I find the characterisation of the additional sellers by the author simplistic to say the least. The most poignant point made is that those looking for a quick sale will need to reduce prices. I suspect that more people have cottoned on that rate rises and higher bond yields will precipitate a crash and are flooding onto the market to take advantage of prices that won’t be reached again for at least another decade. Ironically, this lemming like rush for riches will precipitate a crash, eventually, if it continues all summer. I think that the flood of properties co-incided better with the rise to 5.5%. Expect more of the same after a rise to 5.75%.

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