Gazumping is back

Dan:_4

Yakubu22 wrote: »

For people who understand (just a little bit) the market, the economy and what a recession means. Just sit back and laugh, at a blatant wind up merchant

Not many of those people around here Yak. If it's a laugh you want then just read back at some of the predictions made on this very board 12 months ago.

System

Yakubu22 wrote: »

I do worry when i read cr_@p like this. Not for me, but for someone else who may actually accept this rubbish as gospel and genuinely feel they've missed the proverbial boat.

For people who understand (just a little bit) the market, the economy and what a recession means. Just sit back and laugh, at a blatant wind up merchant

Or, ignore the bile splashed onto the page and just read the article. I can't help but notice that all this abuse directed at the OP is a nice little diversion from the article in question, which no one has commented on.

Out,_Vile_Jelly

I think we will see gazumping and rising prices in a certain sector of the market- those select properties which are unquestionably "nice" and are in nice areas- a much smaller fraction of the market than estate agents would ever admit to. This enhanced interest will cause many to infer that a frenzied boom is returning, and is probably responsible for a fair amount of recent sales figures. IMO this will be in stark contrast to other areas of the market; I reckon many properties will see further price reductions as people realise they really aren't worth that much. There is an awful lot of flimsy, overpriced !!!!!! in grim areas, especially in London and the SE.

Essentially I think the market is going to become much more fragmented, and just having 4 walls and a roof is no longer some sort of guarantee of price.

StevieJ

Yakubu22 wrote: »

I do worry when i read cr_@p like this. Not for me, but for someone else who may actually accept this rubbish as gospel and genuinely feel they've missed the proverbial boat.

For people who understand (just a little bit) the market, the economy and what a recession means. Just sit back and laugh, at a blatant wind up merchant

Not a good ending, but I hope you enjoyed the day anyway.

Yakubu22

Joeskeppi wrote: »

Or, ignore the bile splashed onto the page and just read the article. I can't help but notice that all this abuse directed at the OP is a nice little diversion from the article in question, which no one has commented on.

I've read the article and it's total sensationalism. I'm sure there are some properties that are excellent buys and if there happens to be several bidders, who are desperate to buy that one great property. Then yes you may see "gazumping".
HOWEVER to insinuate that it's a return to the days of 2006 to 2007. Which is what this article is implying, is grossly incorrect, and totally unrepresentative of the current market.
In my opinion unless you're bidding on the house of your dreams, at this moment in time you shouldnt even contemplate such "gazumping" activity.

that was my beef...I'm not denying that maybe somewhere, some bidders are stitching each other up.

Alan_Cross

Still, of course, the essential point is uncomfortable, eh?

Sooner or later, the market will turn again, if not now then further along the line, for sure... rising population, static housing stock... basic supply and demand economics...

... and you can bet your bottom dollar that the people most likely to be caught out by the event will include the 'I'm-a-bear-and-proud-of-its' in evidence hereabouts...

Yakubu22

Alan_Cross wrote: »

Still, of course, the essential point is uncomfortable, eh?

Sooner or later, the market will turn again, if not now then further along the line, for sure... rising population, static housing stock... basic supply and demand economics...

... and you can bet your bottom dollar that the people most likely to be caught out by the event will include the 'I'm-a-bear-and-proud-of-its' in evidence hereabouts...

Sure the market will improve and so will prices -at some point. I disregard articles like this in the same way I disregard articles claming another crash is due of 30%, before Xmas. I dont have a crystal ball but I can make a reasonable argument for what I believe may happen. I like to think I know when an article has been written to grab attention rather than to actually have any informative value. This article is definitely NOT one of the latter.

Wookster

siliconbits wrote: »

Gazumping is DEFINITELY back... Just been Gazumped on the phone by the estate agent who told me how high I could go on a property which is apparently under offer (but not on their website)

Estate agents are, have been and always will be unethical slimeballs I'd take anything they say with a pinch of salt. No 3 pinches of salt.

If, for no other reason than see them suffer, I hope the HPC lives on way longer.

As to the OP: And they all lived happily ever after in their gazumped houses... NOT.

Alan_Cross

Yakubu22 wrote: »

Sure the market will improve and so will prices -at some point. I disregard articles like this in the same way I disregard articles claming another crash is due of 30%, before Xmas. I dont have a crystal ball but I can make a reasonable argument for what I believe may happen. I like to think I know when an article has been written to grab attention rather than to actually have any informative value. This article is definitely NOT one of the latter.

And then again, when the market does start to turn, how many 'articles written to grab attention' will it take for certain people to have their attention grabbed..?

... or will they congratulate themselves on their astute powers of journalism categorising while studiously trying to ignore the rent rise letter from the landlord and the soaring property prices around them..?

mewbie_2

Alan_Cross wrote: »

And then again, when the market does start to turn, how many 'articles written to grab attention' will it take for certain people to have their attention grabbed..?

Good point. When do you think it will start to take a turn for the worse? My reckoning is after this little blip, but as the bots are fond of saying - who knows?