Property crash, just maybe it really is different this time

[HousePriceMania]

 

[Noallegiance]

On 24/05/2022 at 15:12, Bus Stop Boxer said:

Its ground to a halt in Dorset North. Solds coming back on (at same money), and not much shifting at all.

One place listed 13 days ago at £265 had £15k knocked off today. That's a a defo zero viewings so far listing there.

Now back to you in the studio.

I'm beginning to see houses dropping in asking price after having done the EA merry-go-round.

£15-£25k common on £500-£700k decent family home.

Essex.

It's a start. One another £300k to go.

[HousePriceMania]

46 minutes ago, Noallegiance said:

I'm beginning to see houses dropping in asking price after having done the EA merry-go-round.

£15-£25k common on £500-£700k decent family home.

Essex.

It's a start. One another £300k to go.

Offered 25% off a house yesterday, EA went mental, like i'd stuck my finger up my arse and stirred her tea.

Was a sight to behold.  I wouldn't have done it but from what she was saying the market has turned.

I dont even think 25% off would save me from losing money.

Edited May 25, 2022 by HousePriceMania

[With a crooked smile]

26 minutes ago, HousePriceMania said:

EA went mental, like i'd stuck my finger up my arse and stirred her tea.

Was a sight to behold.  I wouldn't have done it but from what she was saying the market has turned.

Sorry but this sounds like the made up fantasy stuff we heard for years on ToS.

Why would the EA go mental? It makes no significant difference to them if you buy it or not and as professional negotiators this would be a weird way to behave. Also an EA will never admit the market is operating against the interest of the person they are representing. 

Sorry just sounds like made up fantasy stuff.

Edited May 25, 2022 by With a crooked smile

[Axeman123]

6 minutes ago, With a crooked smile said:

Why would the EA go mental?

I can't comment about someone else's anecdote, but I can tell you something I was once told to say after making a lowball offer: "you wouldn't be this angry if you weren't thinking of accepting it!"

[HousePriceMania]

9 minutes ago, With a crooked smile said:

Sorry but this sounds like the made up fantasy stuff we heard for years on ToS.

Why would the EA go mental? It makes no significant difference to them if you buy it or not and as professional negotiators this would be a weird way to behave. Also an EA will never admit the market is operating against the interest of the person they are representing. 

Sorry just sounds like made up fantasy stuff.

Ok.

[Bobthebuilder]

2 hours ago, With a crooked smile said:

Sorry but this sounds like the made up fantasy stuff we heard for years on ToS.

Why would the EA go mental? It makes no significant difference to them if you buy it or not and as professional negotiators this would be a weird way to behave. Also an EA will never admit the market is operating against the interest of the person they are representing. 

Sorry just sounds like made up fantasy stuff.

I am guessing that you have about a million in mortgage debt.

[With a crooked smile]

10 minutes ago, Bobthebuilder said:

I am guessing that you have about a million in mortgage debt.

Overall I'm on about 55% LTV, with nothing fixed for less than 4 years.

[Bobthebuilder]

 

1 minute ago, With a crooked smile said:

Overall I'm on about 55% LTV, with nothing fixed for less than 4 years.

Good luck. Would not suit me sir.

[With a crooked smile]

1 minute ago, Bobthebuilder said:

 

Good luck. Would not suit me sir.

I'm pretty chilled about any risks. I think many here are v v risk adverse and that's not really ever been my style. Even at work I've often been the first one to do a new type of project that could go sideways easily.

I'm also a bit mental. If I lost my job and needed income to pay some of those mortgages I probably would do something like by a van for a year and rent my main residence out. I've always been a bit extreme.

[Democorruptcy]

2 hours ago, With a crooked smile said:

Sorry but this sounds like the made up fantasy stuff we heard for years on ToS.

Why would the EA go mental? It makes no significant difference to them if you buy it or not and as professional negotiators this would be a weird way to behave. Also an EA will never admit the market is operating against the interest of the person they are representing. 

Sorry just sounds like made up fantasy stuff.

If a low ball offer had coincided with their worries about the market turning down it could seem more significant to them than just one sale. It might mean reduced sales and commissions going forward.

EA's represent their own interests. If they need some sales and know a property is now priced too high to sell, they will do whatever it takes. Also if you think they wouldn't favour a friend or relative over a vendor, you are being naive.

[Bobthebuilder]

4 minutes ago, With a crooked smile said:

I'm also a bit mental.

No you are not, you are a pussy cat.

[With a crooked smile]

5 minutes ago, Democorruptcy said:

If a low ball offer had coincided with their worries about the market turning down it could seem more significant to them than just one sale. It might mean reduced sales and commissions going forward.

EA's represent their own interests. If they need some sales and know a property is now priced too high to sell, they will do whatever it takes. Also if you think they wouldn't favour a friend or relative over a vendor, you are being naive.

Perhaps and I've known someone bribe an EA with a free weekend at his apartment in Spain but there's to much paranoid thinking about EAs on here. Most transactions are pretty run of the mill. I've never done anything iffy during a sale or purchase and never had the impression anyone else wasn't playing with straight dice.

Edited May 25, 2022 by With a crooked smile

[A_P]

I suspect an EA might go a bit mental if the deal was some way through the process and then there was a risk of it falling through for whatever reason.

Someone offering 25% less than asking is hardly a cause for losing it unless they were a bit unstable.

They pass the offer a long. Easy to misread people though. Someone's mental is another man's raised eyebrow or smirk.

[HousePriceMania]

20 minutes ago, Democorruptcy said:

If a low ball offer had coincided with their worries about the market turning down it could seem more significant to them than just one sale. It might mean reduced sales and commissions going forward.

EA's represent their own interests. If they need some sales and know a property is now priced too high to sell, they will do whatever it takes. Also if you think they wouldn't favour a friend or relative over a vendor, you are being naive.

Im not a liar despite what my stalker says. My mate le  con has an anecdote where he offered 10% less on a house in Sept 2007 and the agent went mental. 6 months later the same agent was crying on a doorstep begging him to buy a house. 

Take from thar what you will 

[With a crooked smile]

22 minutes ago, HousePriceMania said:

despite what my stalker says

Interesting. When was the last time I commented on one of your posts or interacted with you? Must be some considerable time ago.

Stalker, VI, accusations of multiple accounts almost sounds like someone we've all heard before..

[wherebee]

2 hours ago, With a crooked smile said:

Perhaps and I've known someone bribe an EA with a free weekend at his apartment in Spain but there's to much paranoid thinking about EAs on here. Most transactions are pretty run of the mill. I've never done anything iffy during a sale or purchase and never had the impression anyone else wasn't playing with straight dice.

Would you like a game of high stakes poker?

[With a crooked smile]

5 hours ago, wherebee said:

Would you like a game of high stakes poker?

What do they say? Over time the house always wins..

[haroldshand]

Does anyone else log on to their Local Nextdoor  local Newsletter, they are usually for the local community with  plenty of advice  and recommendations etc and local gossip and are usually very civil and the local Vicar sometimes joins in.

One Woman is looking for a new rented Village home after a £300 monthly increase on her present place and she is pissed off. I have never seen such an open bad tempered argument with so many openly getting involved about the rights and wrongs of BTL, the word parasite has been used a few times now and I personally know a few of the BTL's who are fighting back.

Dying to join in but a few of the BTL's in this area are my customers(not BTL work though) and plus I don't want locals knowing I am friendly with them 

[With a crooked smile]

53 minutes ago, haroldshand said:

Does anyone else log on to their Local Nextdoor  local Newsletter, they are usually for the local community with  plenty of advice  and recommendations etc and local gossip and are usually very civil and the local Vicar sometimes joins in.

One Woman is looking for a new rented Village home after a £300 monthly increase on her present place and she is pissed off. I have never seen such an open bad tempered argument with so many openly getting involved about the rights and wrongs of BTL, the word parasite has been used a few times now and I personally know a few of the BTL's who are fighting back.

Dying to join in but a few of the BTL's in this area are my customers(not BTL work though) and plus I don't want locals knowing I am friendly with them 

Whats the demographic of next door like? When I used it before it was a bit boring and mainly pensioners that might have been due to where I was living. I didn't get much out of it.

[haroldshand]

1 hour ago, With a crooked smile said:

Whats the demographic of next door like? When I used it before it was a bit boring and mainly pensioners that might have been due to where I was living. I didn't get much out of it.

The Villages I am in living in  Cambridgeshire it's very popular and yes quite a few nosey  pensioner types use it and many of the snobs, and boy do we have a lot of those around here whose kids all go to private school. There is a few of them who see everyone coming in and out of the Village as a threat, endless messages of "did anyone else notice that dodgy person" when their only crime was having a white van or tattoos, it's a job not taking the piss out of them but they all know me around here

[Inque]

44 minutes ago, haroldshand said:

The Villages I am in living in  Cambridgeshire it's very popular and yes quite a few nosey  pensioner types use it and many of the snobs, and boy do we have a lot of those around here whose kids all go to private school. There is a few of them who see everyone coming in and out of the Village as a threat, endless messages of "did anyone else notice that dodgy person" when their only crime was having a white van or tattoos, it's a job not taking the piss out of them but they all know me around here

Do you get complaining of the bird scarers, muck spreading or early start and late nights when farmers trying to get the harvest in too? Always makes me chuckle 

[Wight Flight]

3 hours ago, Inque said:

Do you get complaining of the bird scarers, muck spreading or early start and late nights when farmers trying to get the harvest in too? Always makes me chuckle 

We had moans about the cows making sad noises because the male calves had been taken away from them.

Probably the same people that won't eat veal but love spring lamb.

[Inque]

https://www.examinerlive.co.uk/news/uk-world-news/martin-lewis-issues-ticking-timebomb-24052927?fbclid=IwAR0ui08y6jvL025maFUVZmelklPx9Jlpgli6Yw0TAM8GgH3x8RiOzkEEGc4

He issued a stark warning to everyone who already has a mortgage - and those looking to get one - that things are going to get more expensive and it will also be more difficult to get a new mortgage deal when your current one expires - all thanks to the good old cost of living crisis.

"But we're in the midst of a cost of living crisis. So everyone has less room than they did before because other costs have gone up. So my great fear is we've seen interest rates go up but more people aren't going to be accepted when they apply for a mortgage because more are going to fail affordability checks.
 

 

[wherebee]

11 hours ago, haroldshand said:

Does anyone else log on to their Local Nextdoor  local Newsletter, they are usually for the local community with  plenty of advice  and recommendations etc and local gossip and are usually very civil and the local Vicar sometimes joins in.

One Woman is looking for a new rented Village home after a £300 monthly increase on her present place and she is pissed off. I have never seen such an open bad tempered argument with so many openly getting involved about the rights and wrongs of BTL, the word parasite has been used a few times now and I personally know a few of the BTL's who are fighting back.

Dying to join in but a few of the BTL's in this area are my customers(not BTL work though) and plus I don't want locals knowing I am friendly with them 

do what I do.  just point out that they cannot be in support of immigration or refugee take ins, and then complain about lack of housing.

 

for some reason everyone always loses their shit