Steaming mad with our Estate Agent

seabiscuit_2

thanks all again

we now have the for sale board up and at least the website has the new photos including internal shots - we now await to see if threatening the ea has made them pull their finger out or not

meanmachine - i see what you mean as although the house we are selling has increased in value, so has all the other properties which means we will have to greatly downsize to be able to afford anything, but house prices are sadly never going to fall to any large extent i.e 100k

meanmachine_2

John_M_Business wrote:

What I mean is that you use just about every post to mention that:
a) Prices are inflated
b) They are all going to slump
c) You're not going to buy
Even when that's actually not what the OP is asking about.

But, taking your points from another perspective:
a) Prices have stabilised at a high level than we're used to
b) Falls are very slight and regional
c) You've never had any experience of actually buying or selling property

As for market conditions, what I was referring to is:
- we're in recession
- there's a horribly weak retail market
- we're carrying high levels of personal debt
That's the economy conditions, but this doesn't seem to be upsetting the marketplace.

As for your preference of borrowing levels, that is purely speculative, because you're not buying, right? However if you want a 12% mortgage, then I'm sure I can find one for you

Beg pardon? Why would you want to sell me anything? What are selling? Don't tell me you're ANOTHER vested interest trying to talk UP the market.

Recession? what recession? I define a recession as a decline in consumer spending and a sharp rise in unemployment. In fact economic conditions are incredibly benign.

meanmachine_2

seabiscuit wrote:

thanks all again

we now have the for sale board up and at least the website has the new photos including internal shots - we now await to see if threatening the ea has made them pull their finger out or not

meanmachine - i see what you mean as although the house we are selling has increased in value, so has all the other properties which means we will have to greatly downsize to be able to afford anything, but house prices are sadly never going to fall to any large extent i.e 100k

Apologies for hijacking your thread, and good luck to you. Please do keep us updated. For all the talk of national stats and figures, it's always interesting to know what is happening in the field.

No I agree that it's unlikely prices will fall by 100K on a property like yours. But if they do, it'll only take them back to their historical trend. So we'll see.

However, I know someone with a house originally on the market @ £400K, and that's already down to £350K, so....

John_M_Business

My offer was about as serious as your mortgage rate comparison. I am a property owner with experience of buying and selling properties (my own, I hasten to add).

Unfortunately, your definition of a recession is different from THE definitition of a recession.

Just as your views on the market are different from what is ACTUALLY happening in the marketplace.

meanmachine_2

John_M_Business wrote:

My offer was about as serious as your mortgage rate comparison. I am a property owner with experience of buying and selling properties (my own, I hasten to add).

Unfortunately, your definition of a recession is different from THE definitition of a recession.

Just as your views on the market are different from what is ACTUALLY happening in the marketplace.

Now you're getting personal.

Technically we're in a manufacturing recession, but have been for many years. More generally we're heading for 2.5% growth this coming year. Sounds good, but this is well short of the treasury's predictions and will only result in high taxes.

Please tell me what your definition of a recession is, since I'm clearly so ignorant. Oh, and if you can find an average property affordable on average wages (the historical norm) I'd be eternally grateful.

John_M_Business

meanmachine wrote:

Now you're getting personal.

Yes, I'm afraid I am. I don't mind a property expert to offer their predictions for the future - but someone who's yet to even trade a property?! It should come with a health warning - and if you aren't prepared to give it... Also, as I said, I really don't think you should see every post on this board as an opportunity to vent your frustrations.

meanmachine wrote:

Technically we're in a manufacturing recession, but have been for many years. More generally we're heading for 2.5% growth this coming year. Sounds good, but this is well short of the treasury's predictions and will only result in high taxes.

Yes we are in a manufacturing recession, and this will continue even in the 'good times' because manufacturing in this country is uncompetitive (as is farming, but manufacturing is not ridiculously subsidised), but until someone 'modernises' the definition of a recession, we are in one, a very mild one at that!

The 2.5% growth figure was given before the General Election so that the Chancellor could put taxes on hold and 'balance the books' - however it is still very likely that there will be some growth this year. Taxes will go up in small doses, which will be palatable to most people. Property prices will probably drift a little at worst, or be static at best - which, in comparison to inflation and / or growth means that they will fall in NET value. However we are not going to see a slump - the economy is too stable for that.

meanmachine wrote:

Oh, and if you can find an average property affordable on average wages (the historical norm) I'd be eternally grateful.

Yes, this is the unfortunate state of affairs given your own circumstances. But please don't make the mistake that because you face this situation, everyone else does. There are five main ways in which you can alleviate this - which most FTBs use:
- Inherit / ask for a deposit from parents (/relations)
- Marry / move in with someone who can share the mortgage
- Save money (i.e. ditch the D&Gs for Primark)
- Increase your own personal income
- Buy a place where you can rent room(s)
That's how FTBs start on the ladder!

bridiej

Please can we remember to be nice to other board members and not to make personal remarks, all points of view are valid.

Also please keep on topic as there are other threads available on the board to discuss the state of the housing market and FTBs.

Thank you.

Bridiej

meanmachine_2

** Boardguide note: edited for personal remarks - please see post above **

Interesting that property experts are able to post on here about where the market is going, whereas in fact if you look at their forecasts in 1989, you'd see that 90% were predicting a stabilising or "stagnant" market.

You paint me as an ignorant FTBer when you know NOTHING about me. In reality I'm a very clued up FTBer who has looked at all the available data, has read articles from both 1989 and today, and many years inbetween and have come to the conclusion that now is the very worst time to buy.

And yes of course, the fact that 92% of towns are out of the reach to FTBers is because we buy D&G and don't go to Primark.

I haven't had a holiday since I was thirteen, haven't bought new clothes at all this year

meanmachine_2

John_M_Business wrote:

The 2.5% growth figure was given before the General Election so that the Chancellor could put taxes on hold and 'balance the books' - however it is still very likely that there will be some growth this year.

What are you talking about?!!

Brown is predicting growth of 3.5% and the BoE are predicting growth of just 2.5%. Today, now, based on current figures.

I think someone should do a little more reading my friend.

bridiej

I'm closing the thread and referring to Abcon for their opinion.

Bridiej