London Estate Agent staff ordered to overvalue by 30%

Sibley

They only hike the value 30% so that the HPC gang think they are getting a bargain.

chucky

brit1234 wrote: »

I think the london market is going to end in tears. With this 30% thing and Chinese investrs being ripped off buying UK builders these greedy companies deserve what is coming to them. I reckon the London property market will start going down the toilet Oct/Nov 2012.

Ok then, if you say so.

I'm still waiting for your 2009, 2010, 2011 predictions to come even remotely true. I've learnt that any prediction from Brit being reality is like seeing an Aberdeen Angus flying.

For a little entertainment, here is your last thread about Foxtons with your usual grinning smiley.

brit1234 wrote: »

Foxtons Estate agent going under

https://forums.moneysavingexpert.com/discussion/2191047
You got it wrong (again) and so did the usual suspects despite me trying to explain it to you (again).

Out,_Vile_Jelly

Pretty much everyone I know who's ever rented in London has been shafted by a chain of agents whose name starts with the same letter as the words "fawning", "fraudulent" and "f-ers". None of these renters would ever sign up with them as buyers. It's quite impressive how they're still in business with such a poor reputation.

The-Joker

Loopgames wrote: »

If this 'rumour' gets out then everyone in the know will automatically reduce offers by at least 30%. Hence damaging the property stagnation further.

As if people are putting in offers for 30% overvalued property in the first place? The smart buyers are waiting for the benefit caps to come in next year, then see property fall off a cliff in London.

FTBFun

Although I have my doubts about the veracity of anything from Twitter, as a buyer in 2010 I felt a particular estate agents with green Minis (not naming any names) was over-valuing some of the property on its books, nor realising that under 80 yrs on a leasehold wasn't "fine".

I wouldn't say its endemic across the London market tbh. Brit would though, obviously.

nollag2006

chucky wrote: »

chucky is himself, I can say what I need to say on one user name.

Sadly brit can't, which is why Negative Equity, and other brit sockies, get banned

chucky wrote: »

The reason you would put me on ignore is because you know I'm right and you can't handle the truth or can't back your facts up like a few others on here.

Seemingly, I am also on the great one's ignore list, but strangely he keeps responding to my posts.

Perhaps brit / NegativeEquity hasn't figured out what "Ignore" means yet

chucky wrote: »

Why don't you try and discuss the fact you were wrong about Foxtons?

He still hasn't yet come to terms with the veracity of his claim that house prices would be down 50% by Christmas 2009.

Little things like Foxtons going bankrupt pale in comparison with that clanger.

Sampong

Who is the Estate Agent then?

*Edit, nevermind, I got it...... sorry, not a Londoner...

chucky

nollag2006 wrote: »

He still hasn't yet come to terms with the veracity of his claim that house prices would be down 50% by Christmas 2009.

Poor woman, she struggles. This is the latest prediction from this thread.

brit1234 wrote: »

I think the london market is going to end in tears. With this 30% thing and Chinese investrs being ripped off buying UK builders these greedy companies deserve what is coming to them. I reckon the London property market will start going down the toilet Oct/Nov 2012.

Let's just wait and see for these massive price drops by October/November 2012. 30% in less than 6 months I don't think so.

Pete111

Foxtons are well known for massively overpricing. They do it to get properties signed up but it doesn't always work out for them.

Last year when we sold our flat there was a similar 2 bed property on the same road selling via them. It was on for 10k more than ours but was a touch smaller with no garden...they did have funky wallpaper in the hallway though (!)

We sold ours (for roughly 2007 peak price) but theirs never budged. I kept an eye on it and within 2 weeks of ours being announced as 'Sold STC' they had moved to our estate agents and dropped 25k off the price. Low and behold, it then sold.

So to reiterate, I can't believe Foxtons overpricing property is 'news' to anyone who has taken an interest in the London property market in the last 10 years As such I suspect the overall impact of these 'revalations' will be...Ziltch.

nollag2006

chucky wrote: »

Let's just wait and see for these massive price drops by October/November 2012. 30% in less than 6 months I don't think so.

Oh dear, so has brit given up on the 50% drop by June 9th? If brit is getting less pessimistic, this is not a good sign!

I may have to sell my family and buy little yellow coins