Friday, July 4, 2008

Today’s WTF award goes to…

Buyer's market

Andrew Elson, independent financial advisor said: "Now couldn't be a better time to buy for first time buyers. There are some real bargains to be had out there because people who do want to sell are worried about a downturn in prices, so they'll be prepared to drop their prices from the start for fear they'll drop even further. "My only warning is that if you're going to get a bargain get it now because if prices do continue to drop then what you'll see is people refusing to sell at all. "Now is the perfect time to buy"

Posted by little professor @ 05:21 PM (1338 views)
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11 thoughts on “Today’s WTF award goes to…

  • It will take some wierdness to beat this guy to the WTF award.

    ” if prices do continue to drop then what you’ll see is people refusing to sell at all.”

    Ummmmmm. If people refuse to sell, then there are no sales, therefore no price drops will be recorded, so prices won’t have dropped, so… my head hurts.

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  • Waiting To Buy says:

    Look out David Smith! this guy seems to have what it takes to get a job on The Times!!!

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  • Beartil2010 says:

    These people are criminals! So it’s a good time to buy in an upward overheated market – and it’s a good time to buy in a market starting to deflate – so I take it the only bad time to buy is when the market has crashed and you can buy a property for 30% less than it was last year? Or is that a good time too mr expert (in the article) – meaning there are NO bad times to buy?

    Morons!

    Q How do you earn your living?
    A ‘I get commission form house sales’.
    Q Ok then I’ll ignore your opinion on housing.

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  • uncle chris says:

    Well, it’s a new angle on “buy now before it’s too late”. Apparently this guy thinks this tack will work when prices are going up AND when they are coming down. At least there is acknowledgement that prices are falling, but if he was acting in the interests of buyers then by all rights he should advise them to wait. His comments suggest, however, that he is acting in his own interests.

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  • Some Mothers Do ‘Ave ‘Em

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  • What kind of advice is this? ………… FSA where are you ?

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  • I don’t understand. Now is the right time?

    Well in 6 months… ?

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  • Let me get this straight. Somebody is prepared to sell his house for £150k now. But you have to dive in now because six months from now if he hasn’t sold it he will have taken the house off the market because he’s afraid that it won’t make the £150k that he’s looking for. So it has become unavailable. But if somebody offered the £150k at that time the owner would quickly make it available again. But buyers can’t get a mortgage or can’t stump up a deposit, so nobody will offer the £150k, so it will be unavailable. But then the reason for no sale will be that the buyer can’t get a mortgage, not that the owner has taken the house off the market.
    And then another expert says that the bargains will be around for the next year or two and you don’t have to dive in now.
    That’s good, because right now I need to lie down.

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  • it_is_going_with_a_bang says:

    “In fact, experts say now is a great time to buy.”

    Oh really? Which experts are these then???
    We are about to experience a huge correction downwards in house pricing and some ‘expert’ is going to advise a FTB to buy now?

    Ah yes sorry… the expert views of a financial advisor and an estate agent.

    Excuse me while I clear my throat ..

    ….Im not even going to start using the language thats coming into my head. Im far too polite for that.

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  • crash bandicoot says:

    Don’t these guys watch the news? House prices are falling – not static. If you haven’t sold your house in six months then it will have lost value, so you’ll have to cut the price by even more. Get over it!

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  • It’s fair to say that I won’t be seeking financial advice from this particularly numpty boy (Andrew Elson).

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