increases expectations that house prices will drop

robmatic

geneer wrote: »

In his wee cottage, no doubt.
Sadly failed to cash in on the biggest bubble ever.
Oh well. All about timing innit.

I'm starting to think that you don't really understand how the whole long-term buying a property thing works.

IveSeenTheLight

fellwalker09 wrote: »

Doesn't really matter what one thinks their home is worth -it's worth what someone will pay for it and it's a buyers market.

I would agree, it is a buyers market, however the true value of a property is what the buyer and seller mutually agree upon.

See below I'll expand further

Graham_Devon wrote: »

I can go and sell my car for 10k if I want. But as it is, it's only worth 6k. If I want to sell it, I have to accept an offer at some point.

That's a poor anology as your effectively saying your marketing the car at 67% above its valuation.
Your then inferring if you get an offer at value you'd accept.

I'll give you a recent example of mine.

A property was marketed at offers over the same home valuation report valuation.

As it is a buyers market, I went in with a real cheeky offer of 12.5% below the valuation (87.5% of the valuation).

There were some circumstances and knowledge on the property that provoked the cheeky offer (property was empty, the owners lived abroad and the property was a previous BTL, having been bought intially in 1995 (6 weeks void in 8 years)

When this was knocked back, I left it for a month (having guidance on if there were other noted interests / viewing) and then upped my offer to 92.5% of the valuation and instructed that if it wasn't accepted I would be withdrawing my offer.

I did also stipulate that this would be for a BTL and that there were a few factors that needed addressing to bring the property up to a standard I would re-let at.

They were left in no incertain terms that if the offer was not accepted that I had other opportunities to follow up on.

Did I get a bargain (under valuation)?
or
did I get the true value of the property (plus any upgrade expenses)?

I personally expect I have received a bargain as the RY is calculated to be 6.49% with the return on my investment after mortgage interest deductions being 12.05%

Not a bad deal in my opinion and certainly available because of the credit crunch and it being a buyers market.

IveSeenTheLight

geneer wrote: »

He bought a big ol' house weeks before the crash hit.

You just don;t see the woods for the trees do you.

It's been shown time and again that in his VI area, prices have not crashed, indeed they have trended upwards since 2007.

It would be good if you spoke of things as they are instead of inferring something that quite clearly is not.

geneer

robmatic wrote: »

I'm starting to think that you don't really understand how the whole long-term buying a property thing works.

Of course I do rob.

2005. House prices can only go up.
2006. House prices can only go up.
2007. House prices can only go up....long term.

geneer

IveSeenTheLight wrote: »

You just don;t see the woods for the trees do you.

It's been shown time and again that in his VI area, prices have not crashed, indeed they have trended upwards since 2007.

It would be good if you spoke of things as they are instead of inferring something that quite clearly is not.

:rotfl::rotfl::rotfl:You do like to blur the wood with the trees dontcha light.
Doesn't matter how you spin it Light.
Mr "its all about timing" chose to buy weeks before global economic collapse, and a House Price Crash every bit as significant as the last one. And indeed still going on.

If this hasn't significantly impacted him this can can only be put down to dumb luck.

Or is it that case that he somehow decided that the crash he utterly failed to see coming,
and the emergency measures he would never have contemplated, wouldn;t effect his "VI area".


Which is your "VI area" isn't it?

IveSeenTheLight

geneer wrote: »

Doesn't matter how you spin it Light.

It's not spin.
It's statistics and facts which show the contrary to your claims.

Conrad

People who make these big socio / economic predictions such as house prices will crash - are almost always wrong and yet they persist indefintely and say all they got wrong was the timing.

One of the most famous cases concerns the world famous predictions made in The Population Bomb - a best-selling book written by Paul R. Ehrlich and his wife, Anne Ehrlich (who was uncredited), in 1968.[1] It warned of the mass starvation of humans in the 1970s and 1980s due to overpopulation, as well as other major societal upheavals such as an American civil war which he said was all but certain.



TO THIS VERY DAY HE CONTINUES TO PREACH THE SAME DIRE WARNINGS, YEAR ON YEAR SAYING HIS TIMING WAS A BIT OUT BUT NEXT TIME HE'LL BE PROVEN RIGHT.

The uberbears on this forum will remain this way for life, they are immune to evidence as they cannot accept thier very core world view was wrong all along.

geneer

IveSeenTheLight wrote: »

It's not spin.
It's statistics and facts which show the contrary to your claims.

So you keep asserting Light.
Though it turns out that your the one who keeps making "my" claims for me.

IveSeenTheLight

geneer wrote: »

So you keep asserting Light.
Though it turns out that your the one who keeps making "my" claims for me.

Well you said he bought a house before the crash hit yet his area has statistically shown an increase since 2007.

Nevermind, were well versed in your spurious "facts"

robmatic

geneer wrote: »

Of course I do rob.

2005. House prices can only go up.
2006. House prices can only go up.
2007. House prices can only go up....long term.

If you can only frame financial decisions in terms of debates you had with internet randoms in 2006 you must lead a very strange life.