Estate agent told me prices were on the verge of going up again

carolt

hethmar wrote: »

Well I think Cat's ea was being honest - Ive known a local EA for over 20 years and he was saying to me that he is telling ftbs to hang on til after Christmas when he reckons the prices will be at a low. He also said he expects the market to be poor until the end of next year but there will be bargains to be had in the meantime.

Yes - but he would say that, wouldn't he?

He might even believe it - people do have a tendency to desperately believe things, however unlikely, that will benefit themselves. Presumably, if he thought his business was going down the toilet, and was convinced of this, he'd get out now and get a proper job.

But that doesn't mean his business isn't going down the toilet.

And it really doesn't mean 'it'll all be over by Christmas'.

I think we've all heard that one before - and tragically, it wasn't true then either.

confused31_2

carolt wrote: »

He might even believe it - people do have a tendency to desperately believe things, however unlikely, that will benefit themselves.

You are right ive noticed it on here first time buyers reckon houses are going to fall 50%, not happened yet and round by me the most a first time buyer property as dropped which is a flat is about 12%, mind you these are properties under 123,000 pound.

What makes me really laugh is when people post luxury flat gone for 15,000 pound, 88% drop and the place looks like some ones living room as been cut in half and it looks a righ shxt hole, would you live there?

First time buyers also the banks interest rates are going to drop as this will also benefit them, but yet again this is yet to happen, the rates may have dropped but the banks have not passed it on,, but most first time buyers think it is going to happen.

This is what people say who are first time buyers, and then you have the people who have savings, have just paid a high fee for a long term fixed mortgage, or have bought a house in the last 2 years.

House prices arent falling that much, interest rates are going to go up as the banks need to recoup their money theyve lost so they can make profits on people who currently have mortgages(not that they are going to earn a loads of interest oin their savings!!!!).

And you always get someone who has just paid a massive fee for a fixed rate posting, i cant see interest rates going down as they cant stand the fact that within 6 months they may have paid out a extra 4000 pounds with fees and they are stuck in a long term deal.

And then you have people who are selling their houses who are in denial thet their house is loosing value and refuse to lower the price, simple answer to this is they wont sell.

We all have our own opinions and usually the opinion we have does benefit ourselves, but we will all have to wait and see what the future brings.

now i am confused

confused

ad44downey

hethmar wrote: »

Well I think Cat's ea was being honest - Ive known a local EA for over 20 years and he was saying to me that he is telling ftbs to hang on til after Christmas when he reckons the prices will be at a low. He also said he expects the market to be poor until the end of next year but there will be bargains to be had in the meantime.

Who's going to lend the FTBers the mortgage money? Not the Estate agency that's for sure. EA's are only intereted in one thing- saving their own scrawny necks.

carolt

confused31 wrote: »

You are right ive noticed it on here first time buyers reckon houses are going to fall 50%, not happened yet and round by me the most a first time buyer property as dropped which is a flat is about 12%, mind you these are properties under 123,000 pound.

What makes me really laugh is when people post luxury flat gone for 15,000 pound, 88% drop and the place looks like some ones living room as been cut in half and it looks a righ shxt hole, would you live there?

First time buyers also the banks interest rates are going to drop as this will also benefit them, but yet again this is yet to happen, the rates may have dropped but the banks have not passed it on,, but most first time buyers think it is going to happen.

This is what people say who are first time buyers, and then you have the people who have savings, have just paid a high fee for a long term fixed mortgage, or have bought a house in the last 2 years.

House prices arent falling that much, interest rates are going to go up as the banks need to recoup their money theyve lost so they can make profits on people who currently have mortgages(not that they are going to earn a loads of interest oin their savings!!!!).

And you always get someone who has just paid a massive fee for a fixed rate posting, i cant see interest rates going down as they cant stand the fact that within 6 months they may have paid out a extra 4000 pounds with fees and they are stuck in a long term deal.

And then you have people who are selling their houses who are in denial thet their house is loosing value and refuse to lower the price, simple answer to this is they wont sell.

We all have our own opinions and usually the opinion we have does benefit ourselves, but we will all have to wait and see what the future brings.

now i am confused

confused

Ah - so prices haven't fallen 50% in a year! What a surprise. They've 'only' fallen 13%. So that proves they're not going to fall 50%.

Oh hang on - it doesn't prove that at all, does it?

Maybe the fact that houses are an extremely illiquid investment means it will take longer than a year?

If anyone - FTB or not - seriously thinks that in the current financial mess the world, let alone, the |British economy is in, house prices are going to go up straight after Xmas, needs their heads seeing to. What on earth would support the current inflated level of prices, let alone allow for rises, just as we enter recession?

Like I said - if anyone wants to buy, despite all the evidence that prices will continue to fall, then that is their lookout.

Caveat emptor. :eek:

Davesnave

Cat695 wrote: »

Yes that makes lots of sense......the only person on this planet I would ever trust is another soldier. whether I knew them or not

Yeah, I feel the same about other members of a certain organisation I'd better not name here..... It's only the bulk of the general population you have to watch out for.

IveSeenTheLight

ad9898 wrote: »

No housing downturn in history as been over and done with in 12 months, the last one in the 90's took over 6 years before there was even a slight upward pressure on prices.
.

Don't fall into the trap of looking at "UK Average House prices"

Yes, I agree on average it shows house prices took 6 years to start climbing, however I know some areas that recovered within a year and had a decent HPI in those 6 years

In my thread Understanding Regional Variances and Historic House Prices I showed a link to HBOS Statistics .
In this link between 1990 and 1996, Aberdeen rose 21.71% and Edinburgh rose 28.06%
So while the UK dropped circa 37.5% between 1990 and 1996, some area rose during the same period

Look at the link for your specific area and see how it faired historically.

P.S. Interestingly, I found a link to Nationwide house prices going back to 1952

confused31_2

carolt wrote: »

Ah - so prices haven't fallen 50% in a year! What a surprise. They've 'only' fallen 13%. So that proves they're not going to fall 50%.

Oh hang on - it doesn't prove that at all, does it?

Maybe the fact that houses are an extremely illiquid investment means it will take longer than a year?

If anyone - FTB or not - seriously thinks that in the current financial mess the world, let alone, the |British economy is in, house prices are going to go up straight after Xmas, needs their heads seeing to. What on earth would support the current inflated level of prices, let alone allow for rises, just as we enter recession?

Like I said - if anyone wants to buy, despite all the evidence that prices will continue to fall, then that is their lookout.

Caveat emptor. :eek:

Im hoping they do go down 50% im hoping to move up, but i think a lot of its wishful thinking , my post code is b76 and there havent been many 50% drops, especially on first time buyer property,im just stating whats happening by me.

you said it" people do have a tendency to desperately believe things, however unlikely, that will benefit themselves":p

So I take it your a first time buyer? I hope your right about all your post's about 50% drops but you know some people do tend to believe things that will benefit themselves, i just hope you right this time as if in 12 months the house prices havent fell 50% your going to look very silly.:eek:

I take it your always right then???????:rotfl:

Im not saying your wrong, but to be honest everything you say does benefit yourself doesnt it??

Pot calling kettle black!!!, its your way or the highway hehehehehee!!!



confused:T

hethmar

carolt wrote: »

Yes - but he would say that, wouldn't he?

He might even believe it - people do have a tendency to desperately believe things, however unlikely, that will benefit themselves. Presumably, if he thought his business was going down the toilet, and was convinced of this, he'd get out now and get a proper job.

But that doesn't mean his business isn't going down the toilet.

And it really doesn't mean 'it'll all be over by Christmas'.

I think we've all heard that one before - and tragically, it wasn't true then either.

Carolt, I was just agreeing that Cats friend is probably being honest in his assessment of the situation, as is the guy Ive known for decades - Im not buying or selling - there was no reason for him to big up the market to me and he is very obviously not in dire straits.

Nor do I say he said that the drops would be all over by Christmas, only that he was telling ftbs to hold back from entering the market until after Christmas. I guess someone who was desperate wouldnt be telling people to hang back from buying now.

I do think some people are so biased on here re desperate for an all out crash that they are unable to weigh up information reasonably - hence the rush for some on here to say prices were dropping 9% a month when clearly the article said 9% over 12 months.

riapr

kai666 wrote: »

Had an email today from an estate agent who said property prices are just about to start going up, and that we can trust her on that (her words)

Does anyone here believe this, or is it a ploy to get me through the door?

how would an estate agent know that house prices are going to go up??? Remember that estate agents want to sell you something so of course they're going to say that!!!!!! She want to you to buy something - that's how she earns her money.

fatpig_2

Don't let an Estate Agent near your granny, he'll rob her blind