Buying A House? Would you pay £20k for a £5k car?

Jorgan_2

Rover wrote: »

So am I to presume you are now reconsidering your original statement which prompted my first contribution to this lengthy thread?

Please clarify, then if I have time, I'll consider planet Jorgan.

Quote:
Originally Posted by Jorgan
Sorry for not posting earlier, I haven't been on here since Wednesday.
March '07 Sales Agreed 13
March '08 Sales Agreed 12

March '07 Completions 9
March '08 Completions 11
The next six months may well be different.

Non-sense old chap. The price/sales/completions entirely depend on that micro bargaining process you're so good at. Nothing to do with available money/credit that has inflated the housing market so artificailly.

http://business.timesonline.co.uk/tol/busi...icle3740127.ece

The TimesApril 14, 2008

Caught in the crunch – 4,000 estate agents could be forced to close

Philip Webster, Political Editor, Christine Seib and Judith Heywood

Mortgage lenders are to be told to pass on interest-rate cuts to their customers in return for easier and longer loans from the Bank of England as it tries to restore order to the housing market, The Times has learnt.

..../

The intervention of Mr Brown and the Bank’s move underlined the fears about a collapse in the market. The Times has learnt of a huge slump of confidence among estate agents. Of the estimated 12,000 agents, at least 4,000 will close by next year, according to predictions by the biggest network of independent estate agencies.

Robin King, director of Movewithus, who described the closures as “massive”, said that sales made within his network had dropped by between 30 and 50 per cent since last year.

One estate agency, the Property Shop, based in Norfolk, shut nine of its ten offices this month, with the loss of about 30 jobs, just before its parent company, the Alexander Partnership went into administration.

..../

Recent figures from the National Association of Estate Agents showed that the number of housebuyers on agents’ books dropped to the lowest yet recorded in February, from an average of 276 per agent in January to 243. The number of properties for sale fell from 83 to 74 between January and February this year. At the same time, Justitia, a credit management agency, said that the number of cases it handled from borrowers struggling with debt had increased by 30 per cent in the last six months.

I've put the posts I was referring to up in full, at the start of your, in which you quoted my previous post, you said 'Non-sense old chap.' I have asked you to clarify which part of what I posted was nonsense. It seems quite simple to me.

Rover

Touche Jorgan. But your original post prompted my first response. Do you stand by it?
Planet Jorgan is safe, it will not be hindered by mere economics. But by reference to earth stats YOUR ORIGINAL STATEMENT can be shown to be tosh. Do you stand by it.

Simple question.............

Edit. the office on planet Jorgan is obviously very busy.

Conrad

I've been in financial services 20 years and met quite a few E A hapy - clappy all is rosy types in my time.

The most memorable was one in the last crash that used to claim he'd even done several deals in the pub, so busy was he, and claimed to be selling 30 homes per month.

A couple of years into the last crash and he'd lost absolutely everything and was living in a room over a pub.

I've come to realise that a lot of people can convince even themselves of thier bull, they simply filter out anything negative.

Lets not forget all those big chains that downsized in the last downturn, the like of GA Property (Genral Accident Ins), Halifax Property, Cornerstone (Abbey) and many more. I bet most of thier staff had the blinkers on too.


100% of cash for property
minus 40% of that cash (40% removed by lenders, no longer available)

= ?

Whats the answer Jorgan?


100 - 40 =

Rover

Planet Jorgan may well be in Hong Kong though.....
somehow I doubt it.

Best of luck old chap.... don't let facts, economics and enivitability get you down.

Jorgan_2

Conrad wrote: »

100% of cash for property
minus 40% of that cash (40% removed by lenders, no longer available)

= ?

Whats the answer Jorgan?


100 - 40 =

60.

Don't for one moment think I've got blinkers on, I worked through the last housing recession.

Rover

Well done Jorgs

God loves a sinner, repented :rotfl: .

Jorgan_2

Rover wrote: »

Well done Jorgs

God loves a sinner, repented :rotfl: .

Does that mean we actually agree on something then?:D

Conrad

Jorgan, I just dont buy this 'we're not affected, we're an island of profit detatched from the rest of the economy' stuff.

In the town here only 1 agent survived the last down turn, yet now there are 7 again and sure enough a couple of them are reporting they are immune as are thier vendors prices. Its like thier brains have been zombiefied or something, they actually really belive prices are'nt falling FOR THEM!

BTman

Jorgan wrote: »

60.

Don't for one moment think I've got blinkers on, I worked through the last housing recession.

Housing recession? Couldn't you bring yourself to say the "C" word? :eek:

Jorgan_2

Conrad wrote: »

Jorgan, I just dont buy this 'we're not affected, we're an island of profit detatched from the rest of the economy' stuff.

In the town here only 1 agent survived the last down turn, yet now there are 7 again and sure enough a couple of them are reporting they are immune as are thier vendors prices. Its like thier brains have been zombiefied or something, they actually really belive prices are'nt falling FOR THEM!

I don't think I have ever said that I or my area is not affected by what is happening in the rest of the economy. Some people will always want to purchase properties, for a number of reasons they may not wish to rent. If the properties are priced correctly, they will sell. If the vendors and the agents are not realisitic, then the properties won't sell.

I have also come across people who feel they are immune to falling prices, a friend of mine honestly believes her property has increased in value by £15k, since September, because she has decorated it and has put it on the market for £15k more than she paid for it.

When I started in 1991 there were 15 agents in the town I was working in. Most were still open in 1995, but by 1997 when I moved to another town, there were only 8 left, still trying to figure that one out.