Doctor Gloom

I thought it would be nice to keep everyone informed from start to finish on this one. Firstly it doesn't worry us as tenants as we are about to purchase our first house blah blah etc and will be gone anyway. However as timing has it our landlords want to sell, and sell quick. They have found their dream home and want to sell this one asap, I thought I would report since their over enthusiasm and market niaivity is comical. Let the fun commence. Firstly they have probably chosen the worst time of year to 'try' and sell, the winter months rapidly approaching etc. Secondly the property is a chalet bungalow so not suited to families nor retired people looking for a one level bungalow, you still have to go upstairs to bed. Thirdly is the price, £190 - £200k for a bungalow which in our valuation should be around the £165k as an upper value. Fourthly the fact that there is a major damp problem in the downstairs bedroom, the landlord is coming to to a paint over job. The cause is an oak tree about 4 foot from the house causing ground heave on that corner and dodgy past building work has failed to see any proper damp course laid down. Fifthly the boiler is knackered. (3k off straight away) Sixthy the garden is old woody shubs, massively overgrown and is very, very had work to maintain so would been major work also. Seventhly the Estate Agents are so poor in communication and bull sh*t, that they have already indicated to the landlord that there is a 'couple' who might be interested. (You know just to get them on their books.) Eightly, they are in competition with hundreds of other 'better' priced properties. Other than that it will fly off the shelf, i.e their dream will lay in tatters, it will be double boarded by Christmas and back up for let by April next year. A little prediction of mine.

The waste in local councils is immense, I fully support cutbacks in these sectors. As an example the top 33 Isle of Wight Council workers cost us £3 million before huge management consultancy fees.

Can I have another go in it?

Nice to see more millions are going to be written off in the falling market. Next is banks balance sheets.

Does this mean we will get the same old nonsensical reports that there is a huge housing shortage Pop into your local estate agents and join the vast waiting lists, yeah right, or is it a ploy to allow stuggling housebuilding to build more homes hence selling to 'dream' to niaive young people who will be saddled with a life of debt to live in total crap. Barratts anyone?

Looking at her photo, I think she was probably a troublesome neighbour with a grudge against life. Nothing to do with her being English i'd say. Just plain miserable.

The Japanese Gov guy was probably unaware that a 9.0 magnitute earthquake was due to strike. So many experts AFTER it happens! I blame the people who decided it was right and proper to build it on the east coast facing a huge tectonic fault line and facing a vast expanse of water. I don't think there is anyone to sue for this.

One 'expert' said that the explosion only blew the cladding off! Seems to be bit more serious than that, but i'm no 'expert'. Had to laugh, just like the financial crisis, there are only experts after the event has happened.

It is in the landlords interest to keep rents reasonable. No doubt they will do there best to force the costs down to the tenants. When prices realign to *normal* levels it will only make the tenants buy or 'get out' sooner, leaving landlords high and dry quicker, thus helping the increased levels of landlord insolvancies we will see in the near furture. When I say landlords I mean the wannabee gravy train jumpers we have seen towards the peak of the market. Good luck to 'em I say, they are going to need it.

Denial will cost people the most in this bust.

The Isle of Wight Council, famous for its regular mentionings in the private eye, has decided to give details of all spending on items over £500. http://www.iwight.com/council/transparency/ If this doesn't work. http://www.iwcp.co.uk/news/news/council-spending-revealed-36890.aspx Interesting to browse through all expendature, a lot is nonsensical and unneccessary. On page 83 of the Jul to Sept 2010, it interesting to see that Brighstone Landscaping is being paid huge sums over the 3 month snippet of spending. Something unemployed people could do for free to earn their dole money perhaps.

Our local Estate Agent announced that there was a sale on briefly just after Xmas.

Thats the usual high level mark on calm days. During rough times I think that house would be engulfed by wash.

I know a boomer at work who pays over £2k a month in mortgage payments. He thinks that after 3 years of developing a bungalow in Sandown Isle of Wight, that he will be able to sell it for a vast profit and run. I suggested that selling a bunglow in one of the roughest towns on the Island for more than peak price wouldn't happen. Hence the reason he never speaks of houses and money in the same sentence to me anymore.

I bet the two on the railway pump action thing are implied to be a young couple nestled with a huge debt at a low rate...... I predict a riot