Monday, October 5, 2009

Awards for the worst ramping ever

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 (2076 views)
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24 thoughts on “Awards for the worst ramping ever

  • and the name of the boat is…

    Titanic!

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  • Excellent post, number cruncher,

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

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  • Desperation comes in many forms…

    Is this so called boat anvil shaped by any chance?

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  • Is this so called boat anvil shaped by any chance?

    More Titanic shaped I think..

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  • japanese uncle says:

    Classic! Priceless!

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  • mark wadsworth says:

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

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  • 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 !

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

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  • krustyatemyhamster says:

    @sumgdog
    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.

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  • 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.

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  • the number cruncher says:

    [email protected] – 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.

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  • happy mondays says:

    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..

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  • the number cruncher says:

    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.

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  • happy mondays says:

    @ 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)

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  • 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

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  • 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”.

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  • mark wadsworth says:

    @ 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.

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  • mark wadsworth says:

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

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  • tenant super says:

    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.
    http://www.galwayindependent.com/local-news/local-news/house-prices-as-low-as-they-will-go/

    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).

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  • 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?

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  • #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.

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  • fallingbuzzard says:

    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.

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  • tenyearstogetmymoneyback says:

    mystie010

    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.

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  • 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.

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