Abandon All Fear

What nobody else seems to be saying…

[Housing Market] Don’t Get Fooled Again…

Posted by Lex Fear on October 18, 2008

So far I’ve resisted the urge to do an “I told you so…” post when it comes to the property market but I still get the distinct feeling that the general populace still hasn’t ‘got it’ when it comes to booms and busts – despite the fact there is now more information in the public domain than ever before – so much so that we should never be screwed over by an estate agent or indeed any salesman ever again!

I know that the past has always shown a trend of cycles, booms and busts, whatever you want to call them, it’s called the market – some win (those that do their research) some lose (everyone else). What the future holds, I don’t know. If enough people get hold of the information which is free and out there, I know it can change significantly, if enough people would only accept reasonably prices for housing, for example, there would be no booms. Imagine if people simply logged onto HPC or Property Snake, whilst having a gander at Our Property and the land registry prices for a street before bidding on a house… then maybe we could have a real truthful stable economy.. or at least stable housing market. Might even get fairer council taxes too…

For those of you that like a bit of schadenfreude (since no-one can get a mortgage or in their right mind would be buying now) I found a new tool the other day, Property Bee, which works as an extension to Firefox. What Property Bee does is collect data from users browsing a number of different property sites (eg. Rightmove) then inject it into the webpage as you surf to show you changes to the advertised details including prices. It also works for rentals.

What Property Bee does well is expose the dodgy underhand practices, reduction in asking prices and length of time a property has lay stagnant on the market. Property Bee gives power to the buyer and if enough people adopt this tool then it could really make difference for the future.

Check out this advertisement for example. £99,975 shared ownership, £199,950 original price… really? Install Property Bee and check out the history.

The tools are there, for free, when property passes the despair/blow off stage and begins to climb (and we have a few years yet) the there will ben no reasons left to fall for an estate agents claptrap again, ever.

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