Lets list those categories that HAVE to sell, ie, those that set the market price.

StevieJ

Conrad wrote: »

Well I'm in the real world and deal day in day out (between posts) with these matters.

See Kenny's summary above and add in rising unemployment, desperate developers, and people unable to remoartge out of high variable rates, particularly those with sub prime lenders.

I think the truth is you may or may not be a mortgage advisor, but your primary focus on here is to spread the negative with the view to picking up some cheap BTL's for the future. The Mortgage Advisor bit will obviously add a sense of authority on the subject Not that I believe that the views spread around here have any influence on the market at all.

Really2

StevieJ wrote: »

I think the truth is you may or may not be a mortgage advisor, but your primary focus on here is to spread the negative with the view to picking up some cheap BTL's for the future. The Mortgage Advisor bit will obviously add a sense of authority on the subject Not that I believe that the views spread around here have any influence on the market at all.

Funny how he does not go on about how most good deals only being available direct now. As a broker I would of thought he would be more worried about the problem of selling mortgages than wanting a BTL.
He could drop a nice bombshell about only supplying 4 mortgages this year but then everyone would question how the hell he was going to afford a BTL.;)

StevieJ

Really2 wrote: »

Funny how he does not go on about how most good deals only being available direct now. As a broker I would of thought he would be more worried about the problem of selling mortgages than wanting a BTL.
He could drop a nice bombshell about only supplying 4 mortgages this year but then everyone would question how the hell he was going to afford a BTL.;)

Judging by the fact that he can only get mortgages for people based on a distressed sale valuation of the property they want to buy, maybe he needs another outlet:D

Really2

StevieJ wrote: »

Judging by the fact that he can only get mortgages for people based on a distressed sale valuation of the property they want to buy, maybe he needs another outlet:D

Instead of "liar Loans" its "loans liar":rotfl:

ad9898_3

Conrad wrote: »

In a bear market, those that have to sell are the key particpants that drive the price curve. For us to get a feel for where this market is going, we need to attempt to throw some illumination upon the matter. Just who are these motivated participants?

I thought it would add value to list all the categories that HAVE to sell, so I'll make a start here;


+ Arrears cases

+ Landlords with non paying tenants

+ Those that vastly overpaid in the last 2 years and just want to stop loss

+ Poorer people with property falling into disrepair

+ Inherited property sitting empty and falling into disrepair

+ Growing family stuck in unsuitable property

+ Job movers

Kerry Katona

chrisandanne

Anthea and Grant.

StevieJ

A link that I posted on another thread that may be useful here on the effect of repos and cash sales, thanks to KingOfKnowhere.

http://www.economicsuk.com/discussion/viewtopic.php?t=300

Jorgan_2

Conrad wrote: »

People caught in a NE trap, often with a flat they dont even libe in would often rather just walk away and stick head in sand that keep paying the debt on a falling asset, and drastically falling at that.
Seriously this is absolutely common place, your EA family member must be in some parallel universe.:rotfl:

I am dealing with a number of voluntary repo's at present, the only reason I know they are voluntary is because I have met the previous owners when they have given the keys back. Sometimes they even tell you the reason they are handing the keys back, not all have mew'ed their equity away.

Really2, ask your family member if he/she has any repo's that they do not have to attend, the keys just get dropped off by someone, owner/locksmith, quite often these are voluntary rather than enforced repo's.

Really2

Jorgan wrote: »

I am dealing with a number of voluntary repo's at present, the only reason I know they are voluntary is because I have met the previous owners when they have given the keys back. Sometimes they even tell you the reason they are handing the keys back, not all have mew'ed their equity away.

Really2, ask your family member if he/she has any repo's that they do not have to attend, the keys just get dropped off by someone, owner/locksmith, quite often these are voluntary rather than enforced repo's.

He as but not because they are in NE and can afford the mortgage.

A voluntary repo is a last resort for someone who is going to loose it any way usualy.

Conrad

StevieJ wrote: »

but your primary focus on here is to spread the negative with the view to picking up some cheap BTL's for the future.

Of course why didn't I think of that cunning plan to wrest control of the market single handedly with these little ole post of mine:cool: