Jump to content
House Price Crash Forum

Hull Thread


Recommended Posts

0
HOLA441

Well it's definately off. He has decided to market it with the EA who valued it at £30k above what we thought it was worth. I can't blame him for trying, although he agreed with our valuation until the EA got involved!

Simon

Link to comment
Share on other sites

  • Replies 72
  • Created
  • Last Reply

Top Posters In This Topic

1
HOLA442

Well it's definately off. He has decided to market it with the EA who valued it at £30k above what we thought it was worth. I can't blame him for trying, although he agreed with our valuation until the EA got involved!

Simon

Care to point it out to us? I imagine not but I'm intrigued!

Our deal is in the hands of the financial advisor who is dealing with our mortgage provider as we're looking to port the deal we've got currently.

We got lucky - this one isnt on the market either and we're buying from a family contact.

JG.

Link to comment
Share on other sites

2
HOLA443

Hi JG,

I'll gladly point it out to you when it appears on Rightmove, then I'll eat my hat when it sells for asking price a few days later!!

A new one came on the market today so we are going to view tomorrow night, got to keep on going!

Good luck with yours. When you say you have been lucky, do you mean pricewise or just the right house for what you have been looking for?

Simon

Link to comment
Share on other sites

3
HOLA444

Hi JG,

I'll gladly point it out to you when it appears on Rightmove, then I'll eat my hat when it sells for asking price a few days later!!

A new one came on the market today so we are going to view tomorrow night, got to keep on going!

Good luck with yours. When you say you have been lucky, do you mean pricewise or just the right house for what you have been looking for?

Simon

We got lucky in so far as it's all about timing - right house for us (4 beds, although there is a bedroom downstairs and above the garage - the vendor is a builder!), at a price we're happy with and a timescale which suits. About as spot on as it gets really. Just about financing the deal efficiently now.

One on Thornwick being the new one?

Link to comment
Share on other sites

4
HOLA445

Hi JG,

Sounds good, I hope it all goes well for you.

Yes, Thornwick is the new one. Looks like a builder has had it and he didn't pay much for it in Dec '09. It looks very nice from the photos but we will see what the viewing brings.

Simon

Link to comment
Share on other sites

5
HOLA446

Hi JG,

Sounds good, I hope it all goes well for you.

Yes, Thornwick is the new one. Looks like a builder has had it and he didn't pay much for it in Dec '09. It looks very nice from the photos but we will see what the viewing brings.

Simon

How did it go?

Ours is only round the corner from that one.....

Link to comment
Share on other sites

6
HOLA447

Hi JG,

It went very well, the house is gorgeous. It's been extended and totally refurbished from top to bottom.

We have put an offer in, just waiting for them to get back to us.

Can you give me any clues about where yours is?

Simon

Link to comment
Share on other sites

7
HOLA448

Hi JG,

It went very well, the house is gorgeous. It's been extended and totally refurbished from top to bottom.

We have put an offer in, just waiting for them to get back to us.

Can you give me any clues about where yours is?

Simon

It's not on the market but it's on the front, on King. Rd.

Not the one that has a sold sign up!

Good luck with the offer!

Link to comment
Share on other sites

8
HOLA449

Well, offer accepted!! Just trying to find a decent conveyancing solicitor.

Still can't quite believe it. The mortgage we need is 2 .25x joint salary so shouldn't be a problem, even with the chance of public sector pay cuts (we are both public sector workers).

The Kingston Rd one isn't the one that sold through W H Browns a few months ago for renovation is it? It sold before we could even get round to view it!

Simon

Link to comment
Share on other sites

9
HOLA4410
10
HOLA4411
11
HOLA4412

Well, offer accepted!! Just trying to find a decent conveyancing solicitor.

Still can't quite believe it. The mortgage we need is 2 .25x joint salary so shouldn't be a problem, even with the chance of public sector pay cuts (we are both public sector workers).

The Kingston Rd one isn't the one that sold through W H Browns a few months ago for renovation is it? It sold before we could even get round to view it!

Simon

No, not that one. This one has been in the hands of the current vendor for 20+ years.

Glad you're sorted though - sounds like a pretty good mortgage you've got.....

JG

Link to comment
Share on other sites

12
HOLA4413
13
HOLA4414

Thanks Popgun,

It all seems to be going through at present.

I am worried about prices dropping, although I probably aren't as pessamistic as some on the main forum on here! I can see the one we are buying dropping by about 10-15% over the next few years (it is about 8% from peak at the price we paid) . I can take some solice in the fact that we have put down just short of 25% in deposit and we still have some significant savings left over.

The time just seems to be right for us and I have already spent too much of my time worrying about something that I can't accurately predict and have no control over.

Si

Link to comment
Share on other sites

14
HOLA4415

Thanks Popgun,

It all seems to be going through at present.

I am worried about prices dropping, although I probably aren't as pessamistic as some on the main forum on here! I can see the one we are buying dropping by about 10-15% over the next few years (it is about 8% from peak at the price we paid) . I can take some solice in the fact that we have put down just short of 25% in deposit and we still have some significant savings left over.

The time just seems to be right for us and I have already spent too much of my time worrying about something that I can't accurately predict and have no control over.

Si

I'm with you Simon - you've got to live your life rather than living life worrying about tomorrow.

We'll be in it for 20 years, it's affordable, it's a desirable area with limited properties available. All in all, it's as safe a purchase as I can find right now - more importantly, it's what my family needs. I'm not, and never have been, one to rent.....

Protect yourself as much as you can (sensible deposits etc), buy something which is a home rather than a house and it'll all be fine I'm sure.....

(And yes, I'm expecting to see a dip in the value too)

JG.

Link to comment
Share on other sites

  • 1 month later...
15
HOLA4416

Hi guys,

Just thought I would check in and see how everyone is getting on. We moved into our new home a week ago and so far everything is going great. Moving was easy as we didn't have that much stuff to shift. I hired a luton van and four of us shifted everything in less than a day. I took a week off and have already been demolishing garden walls and rearranging things. The house itself is lovely, brand new kitchen, bathroom, windows, flooring and rear extension, it just needs a new front door, living room and hallway decorating and a new fire place. It's a great feeling knowing that we can do what we want to it and also feeling like we have a "family" home. The neighbours have all been out with cards and offers of lending tools/wheelbarrows etc.

All in all, very happy. How are you all getting on?

Simon

Edited to add: Watching the news and current economic state unfold day by day I am now more convinced than ever that prices are set to fall for quite some time, but somehow I don't really seem to care like I did before. I know we currently have a good level of equity and some savings left over and that will all help. I actually feel like I am getting on with my life for the first time in 6 years.

Edited by simon813
Link to comment
Share on other sites

16
HOLA4417

Hi Simon,

I was thinking of switching the light off on this thread as everyone else on it seems to have bought now. :(

Was thinking of reporting you all the HPC disciplinary committee. :lol:

Seriously, good news that the purchase went ok and good to hear that you are both settling in.

I'm trying to keep the HPC faith but it’s getting a bit tedious at the moment as I'm getting impatient. Will probably capitulate nearer the end of the year as the rent versus mortgage will be a similar cost (I'm looking at a 5 year mortgage).

All the best for the future. (I'm assuming that you won't be around this site much more?)

Westbury.

Link to comment
Share on other sites

17
HOLA4418

Hi Westbury,

I have been renting in Hedon for the last 2 years, after moving from Norfolk.

I STR in 2008 and I am looking to buy in the East Hull villages when the time is right. We are not in a rush, as our rental property is allowing us to save and we are happy here.

We are looking for a property requiring improvement with some land, probably via auction.

I'm glad Simon found some where that he is happy. He is right about the property market falling.

I'm not expecting to buy until at least Q2 2011. I expect HPC to be deep in fear phase territory around Q2 / 3. The coalition will not allow a crash perse, but neither will they actively support HPI, as Brown did.

Patience pays, but don't let waiting make you unhappy. Then again, it's a shame to wait so long and then buy just before the fun starts.

Good Luck,

FD

Link to comment
Share on other sites

  • 6 months later...
18
HOLA4419
  • 2 weeks later...
19
HOLA4420

Anybody left in here?

Simon

Yep!

Price impasse.

Houses I'm looking at still on rightmove for sale (a couple for over a year now), but still not budging on price it seems.

It isn't even down to affordability any more, as we could afford something around the £200k mark. I just refuse to pay these silly prices, especially with so much uncertainty around the job market.

All settled in now Simon?

Link to comment
Share on other sites

20
HOLA4421

Hi Popgun,

Yes we are all settled in now thanks. We did quite a lot to the house over the first 3 months then had a rest over the winter. I'm just starting to get round to listing this years projects! I'm still glad we bought, although i have no doubt that the value of the house will have dropped since we bought. There are two more identical houses for sale down our street that are priced at the same as ours was advertised at last June (we paid a bit less) and they don't seem to be selling!

We are working hard to overpay each month and the mortgage should be significantly less by the time the dreaded remortgage is needed in 2.5 years time!

We had a baby boy 6 weeks ago so I still stand by my decision to buy a family home when we did, however I know that I now have to live with the consequences of paying over the odds for it for the next 25 years!!

Hope you get sorted, I'm not following the HPC news very much anymore but I still look at Rightmove and notice that everything is sitting unsold from last summer....I suspect prices can only go one way. I'm a public sector worker so my wage and pension is about to get hammered aswell, good job I'm good at saving!

Simon

Link to comment
Share on other sites

21
HOLA4422

Hi Popgun,

Yes we are all settled in now thanks. We did quite a lot to the house over the first 3 months then had a rest over the winter. I'm just starting to get round to listing this years projects! I'm still glad we bought, although i have no doubt that the value of the house will have dropped since we bought. There are two more identical houses for sale down our street that are priced at the same as ours was advertised at last June (we paid a bit less) and they don't seem to be selling!

We are working hard to overpay each month and the mortgage should be significantly less by the time the dreaded remortgage is needed in 2.5 years time!

We had a baby boy 6 weeks ago so I still stand by my decision to buy a family home when we did, however I know that I now have to live with the consequences of paying over the odds for it for the next 25 years!!

Hope you get sorted, I'm not following the HPC news very much anymore but I still look at Rightmove and notice that everything is sitting unsold from last summer....I suspect prices can only go one way. I'm a public sector worker so my wage and pension is about to get hammered aswell, good job I'm good at saving!

Simon

Congrats, you did the right thing. You can't wait for ever, especially with a familly. I'm glad I took the plunge in 03 despite fearing the worst. I'm PS too, but the wife isn't, so we're thinking of changing tactics and look to upgrading somewhere nearer to her work instead. Although I'm still watching a few in Anlaby/Hessle to be honest.

Good luck and keep us up to date with price movements.

Edited by PopGun
Link to comment
Share on other sites

22
HOLA4423

Hi Simon,

Just to echo Popgun's comments. Congratulations etc. Glad it’s working out for you.

We are still in rented. I hope to get out this year. I’m noticing more houses coming onto Rightmove over the last couple of weeks. Now just need the prices to drop.

If they don't I'll have to bite the bullet and purchase. But I'm feeling a bit more optimistic (but only a bit!) but I shall still wait and see what the next 3 to 4 months bring.

Westbury

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information