15.08.08 by Andrew Montlake

Mortgage Valuations Increase!

Ok so the title of this random piece of prose is not strictly correct, but artistic license is allowed and there have been some interesting little changes that have been noted where valuations are concerned which is another sign of those famous "green shoots".

What brought this on is that yesterday I had a valuation back that had been "Up-Valued”! Yep, that's right the valuation came back at £15k more than we thought it would which is great news.

I have also heard that valuers are reporting less and less down-valuations as the weeks go by which altogether could mean several things.

Although everyone berates the press for the doom and gloom stories that leave us all not wanting to get out of bed in the morning, the effect of this could be a positive thing. This is because it actually brings the downturn along quicker and sharper, changing peoples way of thinking more quickly and enabling the market to find the balancing point quicker as well.

This means the bottom of the market could be very close at hand or actually things are not as bad as people have made out. If Darling the Decisive ever gets round to making some kind of announcement over stamp duty people may well start looking to buy again earlier than expected.

Anyway, it’s Friday so I am looking forward to a weekend of Football, Olympics and Nappies!

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