Saturday, July 3, 2010

No point handing around

Homebuyers decide in 20 minutes

So there you have it. The biggest financial decision of your life, one that can bankrupt you or enrich you. 20 minutes. The market can stay irrational for longer than you can live.

Posted by chrisch @ 10:14 AM (1412 views)
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9 thoughts on “No point handing around

  • righttoleech says:

    Filth and Krusty’s advice………compromise, don’t hang about….these quarter of a million pound slaveboxes are going like hotcakes. The rampers are winning.

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  • This has always been Krusty and Phil’s jobs – bullying potential buyers and making sellers appear to have the upper hand and in the driving seat.

    This falsehood is even more important now that the complete opposite is true.

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  • So a TV buyer takes 284m to choose, a homebuyer 20m?

    It’s a stupid nonsensical comparison.

    A TV buyer doesn’t spend 284 minutes physically examining the particular TV he plans to buy. He probably spends 20seconds doing that. The other 283.7 minutes are spent doing background research, looking at models he doesn’t choose, etc.

    How long does a housebuyer take when you include those tasks? A hell of a lot more than 20 minutes.

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  • mark wadsworth says:

    People make up their minds in twenty minutes because that’s what they learn off the telly. Sixty minute show minus ad breaks, two couples, two purchases.

    From my own experience I think twenty minutes is about right. I once bought a house without even seeing it (I let my sister choose). I have rented four or five places in my life, and bought two houses and four flats (and I viewed maybe three times as many) and I can’t remember ever taking more than ten minutes to ‘accept’ or ‘reject’. There is only one over which I am still kicking myself – particularly as it was blindingly obvious what was wrong but I had a senior moment and pretended the issue didn’t exist (oh and the freeholder was a total and utter sh1t, which I only found out later when I took him to court and he just lied and got away with it).

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  • 3. mark wadsworth I would have expected you to know better. No freehold, no sale. PEOPLE LIKE TO OWN WHAT THEY PAY FOR.

    I have a horse to sell but I want to keep the head. No, I want a horse not dog meat. There’s a difference to me.

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  • Another rubbishy news story which is basically designed to get a bit of free publicity (in this case for for ING direct).
    There was one the other day about how street names affect the value of value of houses – this one was for a company called zoopla. Newspapers will print anything. Perhaps housepricecrash.co.uk should do a survey…?

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  • @3 mw

    Though I support your key push for LVT on here, the more you post – the more I learn. I fear that you are the very Home Ownerist that you claim to so despise. You’ll have to argue well, if you disagree, because you’ve so clearly made good from it. Anyone under 25 would find you a hypocrite, Sir.

    (rc: adelphia comprehensive) – good while it lasted.

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  • Iron Bidder says:

    This story is only as reliable as the data it’s based on. If you ask 1,000 home buyers you’ve got no connection with how long they spent looking at the house they bought they’ll just give you the first answer that enters their head (if they answer at all). The methodology is rubbish, the results are rubbish, the market is rubbish.

    Hold on to your hats were going down. . .

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  • Financiers
    Government
    Property Traders (STR?)
    Home owners
    Benefits cheats
    Serfs
    ?

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