Reply to: Btl - R.i.p

[oracleslave]

wait for BOE's statement to work its magic...

Don't hold your breath.

[neilawuk]

wait for BOE's statement to work its magic...remember stats are collated over a defined period based on sales in the previous period...I bet there flatline very very soon...PS - I am not advocating buying on the basis it will drop....my whole crystal ball analogy is that they wont fall any further, and guess what BOE's statement yesterday partially backs that up! who am I to argue with MR King!

[tim123]

read this for a balanced view:

http://news.bbc.co.uk/1/hi/business/7375069.stm

It says that house prices are going to go down.

So why are you advocating buying now?

You seem to be argueing that it is OK to buy now just because you can still make a profit in the long term at that price. But if you wait you will get the asset even cheaper and thus make even more money.

ISTM that buying now, in a market where you accept that the cost of the item you are buying will be lower in the short term, is a decision that no savvy businessman would take.

And please don't reply saying that you are getting in now in order to be ready to move quickly when the market turn upwards. If you do this, I will wager you will lose more money in the "waiting" period than you can ever gain from the "moving quickly". And that's before you factor in the risk that there will be no quick upturn in property, which there wasn't after the 1989 crash!)

tim

[tim123]

Tim....once again (I feel like a broken record) IF

Tim, I didnt get it cos of market conditions, I got it cos I am an investor with no chain

Utter twaddle. You do not get 20% off because you have no chain.

and its needs rennovating...
:

It needed renovating when the agent priced it at 215. It didn't magically need renovating becuse you came along with a silly offer.

my god how arrogant can you be to say you know why something happened without any knowledge of the paramteres in which something happened, its laughable.... So tell me do you think its worth less or more than I paid for it as you have obviously seen it and know it intimately from a valuation perspective?

Insulting the person you are having a discussion with wins the arguement, how precisely?

I do not need to see the condition of the property to determine the logistical relationship between the price asked and the price paid. You told me that.

The logic is: The value of the property needing renovation was 215 because when renovated it will be worth 240. But you got it for 185. This is most likley because there are no takers at 215.

Thus it is a FACT that the EA HAS got the unrenovated value wrong and therfore it is a racing certainty that he got the renovated value wrong as well.

tim

[neilawuk]

bagpuss even Im not stupid enough to pay another company for something I could do....Idont actually know what their business model is, how did their business model work (sorry fail!)

[Bagpuss]

Neil you work for inside track and I claim my £5 of equity

oops no, they went bust

[neilawuk]

damned lisp.....

[bogeyman]

bogeyman, I know u can always twish words and quotes, particularly those with "....." in them

as long as you take a balanced view then read away....not saying I believe it all by any stretch, interesting read tho

I never twish words old boy...

[neilawuk]

bogeyman, I know u can always twist words and quotes, particularly those with "....." in them

as long as you take a balanced view then read away....not saying I believe it all by any stretch, interesting read tho

[neilawuk]

look at this just out:

http://news.bbc.co.uk/1/hi/business/7375881.stm

BOE saying crash is overstated and its becoming a self fulfiling prophecy...what have I said all along....NOW STOP ALL THIS STUPID DOOM TALK FOR GODS SAKE!!!!!!

[bogeyman]

only on the basis they have a few comments from economists, its not their view

How touching.

Just imagine that BBC editors: -

a) did not elicit quotes from their stable of tame economists

b) did not edit the quotes to fit the agenda of their paymasters

Bloody hell Neil, you don't know much about journalism do you?

[neilawuk]

only on the basis they have a few comments from economists, its not their view

[bogeyman]

read this for a balanced view:

http://news.bbc.co.uk/1/hi/business/7375069.stm

Reading the BBC for a 'balanced view' - now that's a novel way of thinking.

[neilawuk]

read this for a balanced view:

http://news.bbc.co.uk/1/hi/business/7375069.stm

[neilawuk]

The UK's property auction market will remain strong, according to one expert.

The UK's property auction market will remain strong, according to one expert.

Despite the global credit crunch and a recent downturn in the number of properties being sold at auction, Savills is confident that the auction market will remain.

A recent report from the Essential Information Group showed that the number of properties sold in this way fell by 9.9 per cent annually in February.

However, Chris Coleman-Smith, auctioneer director at Savills, said that he believes there will always be a market for property auctions, particularly as the market can adjust so quickly.

"We've been through these [times before]. You go back to '89-'91 and think 'God, how the hell did we sell anything then?' But we did," he commented.

"Auctions are here and they always will be; good or bad times there's always a market there.

"I think auctioneers have to adjust quicker because if they don't adjust they're not going to sell the stuff," continued Mr Coleman-Smith.