Recession

[Uncle Spielberg]

I have heard of the 100 year mortgage, Labour with the lenders mooted over it here a couple of years ago but blew it out. Not sure ints interest only though. You can get 40-50 year mortgages here but only if young as most lenders want the term to finish by the retirement age.

 

[Uncle Spielberg]

Spielberg you are about the only person who ever speaks sense (apart from your tips). How stupid must you be if you seriously think estate agents bumped up the prices?

Plus does everyone who hates estate agents seem to think they are earning a mint. I am a senior neg at a top estate agents, and trust me, the money isn't great, even at the peak of the market, we wernt rolling in it. So i work 8:30 til 6:30 and 6 days a week but apparently cant be included in the harfd working day to day category.

adrian29uk - u cock - why do you not like estate agents. Is it that you lost out on a house because someone bidded more and you, so just had to blame the estate agents.

I worked within estate agents for 10 years as a mortgage broker, they work ridiculously long hours 50-60 hours a week and the only people who were making good money were the branch managers and directors, the negs are on a low basic plus commission, very few negs would be in the 40% tax bracket

 

[Alex Alex Dawson oo! oo!]

............................they do a heck of a lot of work on a property transaction and some of it is vital .............................

Such as? Vital?
Can't say I've seen ANY evidence of these as buyer or seller in the 27 years we've owned a house (5 house moves btw).

 

[cjd]

I don't know where this 60% fall in the USA and 35% average has come from but it is Daily Mail/Express headline reporting to cause more hysterical and not based on fact at all. Prices fell 11% across the USA in the last 12 months. My best hunch at the moment is this is going to be a short sharp shock. I think the upturn will happen next Summer and happen FAST, in the meantime prices will fall 15-20% tops. The thing is to time your move right as when it turns prices could go up 15-20% just as fast. I predict property prices will be higher than they are now in 2 years time.

As one of these dreadful people who own a few properties, I have read most posts on here with predictions of gloom and despair with little interest. I have neither got excited because their values have risen over the last 15 or so years, or despaired when their values fall.
However..................your prediction of everything looking rosy in 2010, coupled with your betting history, has finally alarmed me....!
I,m off to end it all now...........

 

[bhafc99]

I don't feel any sympathy for People that own streets of houses.

I wonder how these cnuts are feeling now?

2 x maths teachers + 700 houses = 1 x 240m buy-to-let empire | Money | The Guardian

 

[Uncle Spielberg]

Such as? Vital?
Can't say I've seen ANY evidence of these as buyer or seller in the 27 years we've owned a house (5 house moves btw).

solicitors

 

[Uncle Spielberg]

As one of these dreadful people who own a few properties, I have read most posts on here with predictions of gloom and despair with little interest. I have neither got excited because their values have risen over the last 15 or so years, or despaired when their values fall.
However..................your prediction of everything looking rosy in 2010, coupled with your betting history, has finally alarmed me....!
I,m off to end it all now...........

 

[lighthouse]

what do you call it then when estate agents go round towns and villages leafleting everyone that the prices in their street are up 10, 20, 30 % on last year to drum up business, somtimes even when there hasnt been a sale on the road? .

Marketing. Every business has to do.

Do you believe everything in the adverts?

 

[cjd]

I wonder how these cnuts are feeling now?

2 x maths teachers + 700 houses = 1 x 240m buy-to-let empire | Money | The Guardian

I remember watching this couple on TV two or three years ago. I imagine that their equity in their properties is considerable, and will be well able to withstand any downturn in the market. As the article said, they really were two of the most "ordinary" people you could meet.The only thing I didn,t like about her was her statement at the end of the programme..........."it,s become a bit like collecting stamps...! "

 

[Alex Alex Dawson oo! oo!]

solicitors

Apologies G, mis-read your original post.

 

[Southover Street Seagull]

Marketing. Every business has to do.

Do you believe everything in the adverts?

I would imagine some people getting taken in by the marketing that estate agents have done.

 

[lighthouse]

I would imagine some people getting taken in by the marketing that estate agents have done.

Thats why they do it. Just the same as cosmetics companies use the worlds most beautiful women to advertise their products. If only they could make my wife look like that!!

The decision to buy (or sell) and at what price still rests with the consumer.

 

[beorhthelm]

Marketing. Every business has to do.

Do you believe everything in the adverts?

people do.

yes its marketing, for a product they dont actually own or make.

 

[Uncle Spielberg]

I am not an estate agent spokesman and feel they will only get respect if they are regulated but people blaming UK estate agents for the shit we are in now are barking up the wrong tree. Try looking West and look for about 3000 miles and you will then see the people responsible for this doo doo were are in.

 

[User removed 4]

I am not an estate agent spokesman and feel they will only get respect if they are regulated but people blaming UK estate agents for the shit we are in now are barking up the wrong tree. Try looking West and look for about 3000 miles and you will then see the people responsible for this doo doo were are in.

not just the yanks mate , they were all ( us ,the swiss the germans , everyone ) at it.

 

[Chicken Run]

people do.

yes its marketing, for a product they dont actually own or make.

Agreed but, are instructed to sell, or indeed have been asked to find.

 

[Buttinhams]

All this house price crash hysteria is bollocks. It's all about supply and demand. The media / government scaremongering has frightened people into thinking that if they buy now the price of their property will fall and they will lose money and/or be in negative equity. So they make ridiculous offers that no-one will accept. My experience from looking at Rightmove in my area is that prices may be dropping slightly for houses that need to be sold, but predominately people are taking their properties off the market until such time as the hysteria dies down. As fewer properties reach the market the demand will increase and things will level out. It is the new housing sector that is really suffering as they have to sell properties to finance works in progress, they do not have the facility to withdraw their properties from the market.

 

[Uncle Spielberg]

All this house price crash hysteria is bollocks. It's all about supply and demand. The media / government scaremongering has frightened people into thinking that if they buy now the price of their property will fall and they will lose money and/or be in negative equity. So they make ridiculous offers that no-one will accept. My experience from looking at Rightmove in my area is that prices may be dropping slightly for houses that need to be sold, but predominately people are taking their properties off the market until such time as the hysteria dies down. As fewer properties reach the market the demand will increase and things will level out. It is the new housing sector that is really suffering as they have to sell properties to finance works in progress, they do not have the facility to withdraw their properties from the market.

Spot on.

 

[Uncle Spielberg]

The Great British public love buying houses, they want to own their own property, 70% of peol,e buy rather than rent, that will not change and if prices fall 15-20% by next Summer and mortgage funds become available with better rates you will not be able to keep up with the rush to buy. The upturn will be swift and decisivive.

 

[lighthouse]

people do.

yes its marketing, for a product they dont actually own or make.

What you say is quite correct, but if we start down that line we really are in trouble. The British economy is largely based on service industry. As a country we don't own or make very much at all. If we start denegrating and undermining 'service industries' then we really are shooting ourselves in the foot!