Hilarious! People in my area are increasing their asking price!

IveSeenTheLight

Doctor_Gloom wrote: »

Hold on a minute. The only person likely to get banned is the one breaking the rules, not the person reporting the breaking of the rules.

I'm not saying he should be banned, but I do liken him to "the boy who cried wolf"

LydiaJ

Doctor_Gloom wrote: »

Hold on a minute. The only person likely to get banned is the one breaking the rules, not the person reporting the breaking of the rules.

But Nutrisse frequently reports posts that aren't breaking any rules.

dopester

Harry_Powell wrote: »

When would you have people buy their houses Dopester, during a boom when everyone is jumping on the bandwaggon and prices are sky high and when everyone thinks the good times will never end, or do they do what I did and buy in the depth of a recession when houseprices are low and when people are more careful and realistic about their income and therefore less likely to overextend themselves financially when they buy?

Harry_Powell wrote: »

Clearly your advice is based on your own fears, not on anything to do with Lydia's situation, finances, life aims & goal or indeed anything else, which was pretty much my whole point about the way you dole out your frightening posts as 'advice', when they are anything but.

Yes. Delaying buying before the General Election and continuing to rent for just 12 months to see what consequences come after the General Election doesn't seem such a zany strategy to me.

Although I guess it depends on the price someone like Lydia is planning to buy at. It might be less of a strategy if you're planning to buy a £100K home, rather than a £300K-£500K, but there are a whole host of other variables.. not least the employment/pay opportunities in an area you'd be buying in, both before and after the General Election..

I put my case to Lydia, she read it, accepted some points of reason, but has made up her mind on the positive for buying now outweighing the negatives. That is fine. At least I had the courage to put an alternative view across.

I'm not the only one to be having fears Harry. It would seem many a homeowner increasingly has fears, with more coming to market to try and sell, many with concerns to what the future holds after the election. We'll see how it affects house prices and whether you've really 'bought at the bottom of the market' like you believe you have.

I could of course be wrong. A future government may be able to pull off some mega-miracle to keep house prices supported, the job market and pay all really sweet for years to come. Attack the prudent and savers even harder, by lowering interest rates to 0% or other measures.

Homeowners in a hurry to sell before the election fallout

By Becky Barrow
Last updated at 12:02 AM on 13th April 2010



The number of homeowners putting up For Sale signs has shot to its highest level for nearly three years

Homeowners are rushing to sell their properties before the election, a report will reveal today.

The Royal Institution of Chartered Surveyors said the 'dash for cash' was being fuelled by the extreme levels of 'uncertainty' about the future.

People fear that - whoever wins on May 6 - the impact on the housing market could be bleak. They are worried about the lethal mixture of massive job cuts, particularly in the public sector, rising interest rates and tax hikes crippling workers' ability to buy.

Continues: http://www.dailymail.co.uk/news/article-1265537/Homeowners-hurry-sell-election-fallout.html

BBC News
OTHER TOP STORIES
House sellers 'outnumber buyers

House-seller numbers 'outweighing buyers'

The number of people trying to sell their homes has hit its highest level since May 2007, the Royal Institution of Chartered Surveyors (Rics) said.

Rics said new instructions from sellers in March outstripped enquiries from would-be buyers for the third month in a row.

Continues: http://news.bbc.co.uk/1/hi/business/8615105.stm

Running_Horse

Yeah, I saw the Daily Mail headline, but can't agree with their conclusions. For months now buyers have been moaning there are no decent properties on the market. A lot of sellers have been waiting for prices to rise and the market to quicken before moving. I doubt many of them have done so in a panic over the election; apart from anything else it takes months from instructing an EA to completion. I have seen a lot of boards going up in my area. Most are probably just taking advantage of a good moment to sell. What happens to prices after the election is anybody's guess, but history suggests most on this board are only good at prediciting rises or falls after the event.

Woby_Tide

Missed a lot of this thread but the OP is in the same area as me from previous conversations. Just realised a house has gone on market in our street this week, sold for £250k in late 2007, they've done some structural work in that time and decorated. Now for some reason they think that their 3 bed bungalow(well 4 bed in marketing speak as long as you regard a kitchen/lounge as enough living space) is now 'worth' £350k. So it appears prices have risen 40% even since the highs of 2007....breaks the street record(another 2007 sale) by over £60k if they do sell..... wonders never cease

Harry_Powell

Running_Horse wrote: »

Yeah, I saw the Daily Mail headline, but can't agree with their conclusions. For months now buyers have been moaning there are no decent properties on the market. A lot of sellers have been waiting for prices to rise and the market to quicken before moving. I doubt many of them have done so in a panic over the election; apart from anything else it takes months from instructing an EA to completion. I have seen a lot of boards going up in my area. Most are probably just taking advantage of a good moment to sell. What happens to prices after the election is anybody's guess, but history suggests most on this board are only good at prediciting rises or falls after the event.

Can't say this any better, Dopester. As a scientist, I know that you can make any observation fit your theory if you're fanatical enough about it, but it still doesn't mean it's right. Even Einstein fell for that one, so don't feel bad.

All we can do is wait and see, and history will prove one of us right. The trouble is that you won't admit it - just as you didn't when you were completely wrong about your rampant deflation theory.

dopester

The appliance of science. I like it Harry, and agree with your about how many people are capable of making observations fit their own theories, to their own ends.

Not completely wrong about deflation Harry. I wouldn't be too quick to assume it's inflation from here. Deflation forces are still very much in play.

All the extra debt, rescues and political expedients to stop the necessary market correction only has the effect of increasing the strength of the impulse making for contraction.

Rising debt levels (including bailing out banks/companies who are failing/mortgage rescues/8 kid benefit layabouts) creates economic feedback that forces deflationary reaction. Debt cannot indefinitely compound faster than income.

Inflation at Latin American levels is possible but the weight of probabilities favours a deflationary solution in the end - although given how addicted to HPI/credit Government is, and the how extreme the boom was.. it's possible they'll go for the inflationary self-destruct.

Deflation is a rising risk for developed economies

The world's developed economies face a rising threat of deflation as central banks around the world withdraw their stimulus programmes, according to PIMCO, the world's biggest bond fund manager.

Published: 8:12AM BST 13 Apr 2010

http://www.telegraph.co.uk/finance/economics/7584745/Deflation-is-a-rising-risk-for-developed-economies.html

System

Are people still trying to ruin peoples lives with awful "advice" in the homebuying forum?

Harry_Powell

Harry_Powell wrote: »

The trouble is that you won't admit it - just as you didn't when you were completely wrong about your rampant deflation theory.

Thanks for proving my point Dopester. How long a time frame on your deflation and HPC assertions? Weeks, years, decades? Even a stopped clock is right twice a day I suppose. With a long enough timeframe anything is possible.

Anyway, just as it did on the other thread that you followed me from, this is getting a little personal for me, so I'll bow out.

Bonne Chance.

dopester

Harry_Powell wrote: »

Anyway, just as it did on the other thread that you followed me from, this is getting a little personal for me, so I'll bow out.

Bonne Chance.

I don't open every thread, and on the thread I think you're referring to I made a post in advance of yours on the thread.

In fact I had to bite my lip quite a bit. The girl needs to be at least £15,000 (and possibly a lot more) under her neighbour's superior home asking price, not £500 over - in my opinion.

Suggestions she not consider lowing her asking price and to "Hold your ground, don't give away your home"- might not work in her favour. Holding out might see her not be able to get what she could from the market now, for a very long time - if in her own lifetime. (Again, in my opinion).