Monday, Oct 05, 2009

Awards for the worst ramping ever

Kent On Sunday: Don't Miss the Boat

This add by an EA in a local rag must go for the worst ramping award.
Perhaps we should get a wall if infamy to publish this rubbish for posterity
This link may not work on everyones computer

Posted by the number cruncher @ 10:37 AM (2036 views)
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1. Frontier said...

and the name of the boat is...


Monday, October 5, 2009 10:42AM Report Comment

2. alan said...

Excellent post, number cruncher,

It gave me a really big smile on a wet monday morning!

Monday, October 5, 2009 10:47AM Report Comment

3. mrflibble said...

Desperation comes in many forms...

Is this so called boat anvil shaped by any chance?

Monday, October 5, 2009 10:57AM Report Comment

4. uncle tom said...

Is this so called boat anvil shaped by any chance?

More Titanic shaped I think..

Monday, October 5, 2009 11:05AM Report Comment

5. japanese uncle said...

Classic! Priceless!

Monday, October 5, 2009 11:09AM Report Comment

6. mark wadsworth said...

I quite like the 4-bed in Hawkings for £249,995. If only it were near where I lived ... it would cost twice that.

Monday, October 5, 2009 11:34AM Report Comment

7. jack c said...

Excellent post - brightened up a dull Monday morning

The Girl in the ad looks to me like she will have at least £20K worth of student debt - no doubt she's in a hurry to get to court on time for her bankruptcy hearing !

Monday, October 5, 2009 11:53AM Report Comment

8. smugdog said...

Yes, agreed Mark @ 6, some of the properties look surprisingly good value!

Monday, October 5, 2009 12:01PM Report Comment

9. krustyatemyhamster said...

Only the owners of a money printing press would think house prices are good value at the moment.
So that'll be the BoE then.

Monday, October 5, 2009 12:08PM Report Comment

10. smugdog said...

Ah Krusty, you see, people do not necessarily look at value or good value, they are driven by fear of losing out on the window of opportunity that they (rightly or wrongly) believe existing at this moment. So you don't necessarily have to have a printing press in the basement.

Monday, October 5, 2009 12:15PM Report Comment

11. the number cruncher said...

Mark@6 - Location, location location...
There is a reason for the relative value, but I would hate to cast dispersions on the picturesque village of Hawkinge... The area has excellent facilities such as the Lidl in the middle of the housing estate or nearby links to some stunning 1950's ex council properties. Also your would-be neighbours would be very helpful if you ever locked the keys in your car, as I am sure many are practised in assisting in such matters.

Monday, October 5, 2009 12:18PM Report Comment

12. happy mondays said...

Has anybody here been to Kent, i am a Kentish man or a man of Kent (no preference) some of these towns are like woop woop, crappy little places on the sea, or some where like faversham which is a pants town only good for it's brewery..I am surprised Margate is not on there with inflated prices because it has a theme park..

Monday, October 5, 2009 12:21PM Report Comment

13. the number cruncher said...

I live about 5 miles from Hawkinge - Check out the prices on yourmove as they are MUCH cheaper than surrounding areas. They are doing some horrendous new 6 bedroom places for less than 300K. But I am not tempted.

Monday, October 5, 2009 12:28PM Report Comment

14. happy mondays said...

@ 12, no disrespect for Kent, i loved growing up there & it has some nice places, so not out to offend anybody (Back peddle back peddle)

Monday, October 5, 2009 12:36PM Report Comment

15. Zebbedee said...

The girl in the ad looks like she's running across the road to get to her new home she couldn't miss the boat for and is caught in the headlights of the juggernaut of hpc bearing down on her

Monday, October 5, 2009 12:50PM Report Comment

16. Smips said...

Has anybody noticed how small the " Subject to Contract" part of "Sold"(sic) EA,s Boards are. Almost invisible.
Surely this is as least misleading,and perhaps fraudulent.
Its like reading an saying "Dentist" with the very small print underneath saying "Or I will be when, and if ,I qualify".

Monday, October 5, 2009 01:30PM Report Comment

17. mark wadsworth said...

@ Number Cruncher, 11.

Exactly. So "the markets" are indifferent whether you pay £250k for that house of £500k for a similar house round my way, the difference is £250k additional location value, so if you want to live in West Essex, you pay an extra £15k for location value (i.e. £250k larger mortgage @ 6% interest).

So why not slap the property round my way with a £15k land value tax so that it's purchase price falls to £250k as well? A home mover would still be indifferent between the two.

Monday, October 5, 2009 02:02PM Report Comment

18. mark wadsworth said...

To clarify my last comment, £15k is the annual figure.

Monday, October 5, 2009 02:19PM Report Comment

19. tenant super said...

I'm looking to buy in Galway, as I am feeling claustrophobic after 13 years in London and have given up on the UK market. I'm keeping an eye on the prices there.

This kind of ramping reminds me of an article published in the local rag in Galway earlier this year.

Uses the same scare tactics to get people to avoid 'missing the boat'. Thing with Ireland is that they have no housing shortage myth and know they built far more houses than they need so it isn't working. Unfortunately, the recent rise in prices in the UK has led people to think it is all over. Sentiment is certainly up and if people could get finance easily, we'd surely be back in the insanity. I had many heated discussions with the bullish Mr. Tenant Super early this year and he's now very much in 'told you so' mode. It is very annoying. I hate being wrong when I am wrong but now I feel I am deemed to be wrong even though I am probably not (and this crash is not yet over).

Monday, October 5, 2009 02:29PM Report Comment

20. mystie010 said...

To smugdog @ 10 - I believe that you are absolutely right about this, indeed the whole thing is about fear of losing out, and missing a bargain. I was speaking with a very young friend of mine who is in the process of securing her mortgage with HSBC. I suggested that she wait until after Christmas to see what happens to prices. Her reply was simple - "We have got a lot of house for our money and I don't think we will find a bargain like it and people are getting more credit now so we need ot move quickly before prices shoot back up again."

I just think that the people ramping this market should be shot! - after speaking to her, the words lamb and slaughter came to mind, but she is very young and I think absorbing all of the rubbish that is being peddled at the moment. But what a financially hard lesson in life to learn in terms of being saddled with all that debt?

Monday, October 5, 2009 04:10PM Report Comment

21. Chilli said...

#20 - The way people are being mislead is criminal. Couldn't agree more.

Prices are not going anywhere; When they shot up, we didn't have recent historical evidence to suggest any danger. If it goes up again, I can only conclude that the british public collectively has the memory of a fish.

My real concern is just how cowardly or mis managed our nation seems to be. The rest of the world has taken their 'medicine'. But it seems we are acting like a 5 year old and wailing for the party to continue.

Monday, October 5, 2009 07:30PM Report Comment

22. fallingbuzzard said...

It will be interesting to see how debt deflation plays out. I am sure there will be a temptation at some stage for the next government to generate some form of debt write-off for overindebted households. I am not sure it will happen here though but I'd bet on it happening in the US.

Monday, October 5, 2009 09:26PM Report Comment

23. tenyearstogetmymoneyback said...


I've often been tempted to suggest that everyone know that property operates in an eighteen year cycle.
The problem is that people in their early twenties don't and that just reinforces the cycle.

Monday, October 5, 2009 09:36PM Report Comment

24. Hiccup said...

Hawkinge was blighted because a lot of the houses there were built on Asbestos. Old air base you see it was laying all over the place.
The link to the KOS wont load for me.

Tuesday, October 6, 2009 02:08AM Report Comment

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