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SILVER LININGWhat's going to happen to the value of property? This question comes up time and time again during the course of an estate agents week. In more steady markets, it is easy to say that with time, the value of their home will rise, particularly if the owner makes some improvements to the property. In July 2007, the consensus was that property prices would continue their meteoric rise. How wrong we all were, but the change started on July 31st when Bear Stearns, one of the worlds biggest investment banks stops clients from withdrawing cash from a fund which has lost billions of dollars and sets alarm bells ringing. Along with plenty of other jargon the term 'credit crisis' has quickly become a household term as have names such as Fannie Mae, Freddie Mac, AIG and Lehman Brothers etc. The question posed above can only ever be answered with a crystal ball but we can say that properties are about 15% cheaper now than they were a year ago. Many people are aiming to buy at the bottom of the market (whenever that is) and as soon as the market is perceived to have bottomed out, there will be competition to buy properties. The trick is to know when the market is going to bottom out and buy before that point however, Lurot Brand have more sales agreed now than at any time during the last year and the consensus among those buyers seems to be that they are buying at a good time. The short term future looks bleak, but property should always be seen as a long term investment. People of many nationalities feel a strong pull towards London and with space at a premium, the fall in values is bound to grind to a halt before too long and more steady and comforting conditions will return. |
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MORE MEWS STYLE ARRIVEFollowing on from the excellent response we got from people who received our Lurot Brand Limited Edition reprint of Sebastian Deckkers book “Mews Style”, we can confirm that the next batch of over 3000 copies was delivered early in January. The shippers were clearly instructed to deliver the books (almost 3 tons in weight) in a lorry with a tail lift, but guess what, it arrived with no tail lift!. Various members of Lurot Brand were conscripted in to shift all 157 boxes! All that aside, over the next couple of months we will be delivering to all the mews in London that did not get a copy from the first batch. We hope you enjoy it. As the books are quite large, they don’t fit through many letterboxes so we have been leaning them against peoples front doors. If you know that we have delivered to your mews and for some reason you don’t appear to have got one, please send an e-mail with your contact information to: info@lurotbrand.co.uk |
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