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#7441 2buyornot2buy

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Posted 27 September 2011 - 04:15 PM

i'm starting to see some real bargains now

Bargains p.p? Really?

#7442 p.p.

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Posted 27 September 2011 - 04:34 PM

Bargains p.p? Really?


well, i haven't looked at the finer detail, but was surprised at the price of the below (for example) as i haven't been looking at property prices in a while now.......

http://www.propertyn...164849831/Page1

http://www.propertyn...164849831/Page2

http://www.propertyn...164849831/Page1

the 2nd/3rd are in good areas, i think the first is as well

edit - OK, not so sure about the first......

Edited by p.p., 27 September 2011 - 04:39 PM.

even a stopped clock gives the right time twice a day

When they come a wull staun ma groon, Staun ma groon al nae be afraid
Thoughts awe hame tak awa ma fear, Sweat an bluid hide ma veil awe tears

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#7443 2buyornot2buy

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Posted 28 September 2011 - 08:38 AM

Did you read the agents comments on the third one?

"Contrary to media coverage, houses are still selling,
including the ones which would require some work to be
completed. So our advice is to make your enquiries now."

Oh the desperation. Thank you for that Mcartney and Crawford however looking at some of the properties you have around Ballymena and Antrim on your books for years, I’d say not much is selling for you full stop.

One looks like a repo so will set the level of others on the street. I’m not seeing many if any “bargains” in my area yet. I am seeing lots of properties in BT9 at RV and 10% below and still not selling. It is all encouraging.

#7444 Belfast Boy

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Posted 21 January 2012 - 06:59 PM

An article from September 2011. The whole thing is worth reading. It gives a good explaination of where all the cheap credit comes from, why it won't last and what the consequences will be for the UK.

The worldwide bond bubble will burst, and Britain is not prepared

How many Brits would be comfortable if their mortgage interest rates went back to 6 per cent, which was normal, even cheap, for so much of our recent history? Or 10 per cent? Trillions of pounds' worth of pension and insurance money is invested in bonds, so when they crash it will destroy wealth on a massive scale. Stock markets will fall, in some cases severely, while the great property boom will give way to a crash — as the cost of mortgages climbs permanently higher.


Edit to add: The article does not mention 'quantitative easing'. Before interest rates rise the UK will print more money to buy UK bonds. Effectively a default on our bonds by currency debasement. It is the easy way out for our politicos.

Edited by Belfast Boy, 21 January 2012 - 07:22 PM.

"There will never be another period, in our lifetime, when property changes hands for the multiples of salary that we reached recently. The one-off credit event that we have witnessed, over the last ten years, is gone and it is not coming back!" Dances with Sheeple

"The mistake I think lots of people are making, is that they are assuming the real estate market, in a few years time, will exist in the same economic conditons that exist today." VedantaTrader

#7445 2buyornot2buy

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Posted 22 June 2012 - 07:50 AM

If anyone gets a minute and is interested in the housing market here from the Establishment perspective I would take a look at these minutes from the Committee for Social Development on the Housing Executive Review.

http://www.niassembl...sing-Executive/

Great information on co-ownership, waiting lists, and hosuing stock.

There's also insight into why the HE can't really support low house prices. The plan is to leverage existing stock with a £1 billion loan to pay for "upgrading" existing stock. The current stock value is estimated at £2.5 billion. They want to do this commercially as opposed to using public funds. Lower house prices = lower collateral = higher rates = Less money for HE non-jobs.

You can also see (which I think is a fairly typical attitude in NI) a complete reluctance to cutting Housing Benefit levels (as this comes direct from West Minister so why should we care and just spend it. Legal Aid anyone...). The Housing Executives cash flow (which the loans above will be paid from) is around £280 MILLION with the vast majority (especially post crazy) coming from HB.

#7446 Shotoflight

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Posted 23 June 2012 - 12:17 PM

If anyone gets a minute and is interested in the housing market here from the Establishment perspective I would take a look at these minutes from the Committee for Social Development on the Housing Executive Review.

http://www.niassembl...sing-Executive/

Great information on co-ownership, waiting lists, and hosuing stock.

There's also insight into why the HE can't really support low house prices. The plan is to leverage existing stock with a £1 billion loan to pay for "upgrading" existing stock. The current stock value is estimated at £2.5 billion. They want to do this commercially as opposed to using public funds. Lower house prices = lower collateral = higher rates = Less money for HE non-jobs.

You can also see (which I think is a fairly typical attitude in NI) a complete reluctance to cutting Housing Benefit levels (as this comes direct from West Minister so why should we care and just spend it. Legal Aid anyone...). The Housing Executives cash flow (which the loans above will be paid from) is around £280 MILLION with the vast majority (especially post crazy) coming from HB.


Interesting. Thanks for posting. Some nuggets below.


Secondly, we think that we would be able to sell housing management services to landlords privately, because one of the most common complaints that we get in our district office is about non-responsive private sector landlords in our estates. The complaints are to do with private tenants who do not behave well and landlords who do not act responsibly. We believe that, as an experienced housing landlord, we could sell a housing management service to private landlords, manage those private tenants on their behalf and address a number of the issues that our residents are already facing.

Thirdly, as a large social enterprise, we think that we could work in partnership with others to create a microfinance agency to address the scourge of predatory lending that exists in our estates. Time and time again, we hear about doorstep and payday lenders who approach our tenants and charge exorbitant interest rates of 3,000% or 4,000% for short-term loans. The people who pay those sorts of interest rates cannot pay their rent, and we believe that, as a social enterprise, we should be in that space and squeeze those predatory lenders out of the market. As an NDPB and a public body, we cannot do it, but, as a social enterprise, we could.

Lastly, the other thing that we are very conscious of is that the Housing Executive is a big landlord, and four in five of our tenants live in households where no one is in paid employment. Personally, I think that that is a disaster of public service in Northern Ireland.


We are also concerned about that because, with the proposed changes in welfare reform and universal credit, one of the big issues is that you may not — it depends on what happens — get direct rent payments to the landlord. If the benefit payments for all sources go directly to the household, it is going to work for some of them, there is no doubt about it, and I am sure it will be a good thing for a lot of people, but, equally, there will be a large number of people who will find that very difficult. Our conservative estimates are that our rent arrears are likely to go up by between £10 million and £15 million a year in that sort of scenario, so we would need to look for ways in which we can help tenants to better manage their resources.

Mr F McCann: Chair, I will be brief. It was certainly interesting to listen to your presentation, Stewart. The information that was coming through yesterday about slipping back into recession will have a knock-on effect on house prices. You spoke about the average price, but, certainly in the area that I live in and represent, a former Housing Executive flat is going for £20,000. Three-bedroom houses that were going for £160,000 are now going for £40,000, so there has been a huge drop that has forced quite a number of people into negative equity right across the board.


Dr McPeake: I will briefly comment. One of the things that is unusual about the current recession compared with the previous housing market collapse in the UK is that repossession levels have been relatively low. So, a lot of lenders, because of the seriousness of the issue and the sheer numbers that are involved, have realised that it is in their interests to allow people to remain in their homes and that repossession should be an absolute last resort.

Also, we have been asked to carry out some research by the Department. Something we are particularly interested in is the whole question of mortgage rescue. Clearly that is a policy issue to be taken forward, if it is deemed appropriate, by the Minister and DSD.

Those sorts of initiatives to deal with people who are in serious negative equity usually involve some form of tenure transformation. There are a couple of examples in Scotland that our colleagues in the Department have been looking at, there have been a couple in England and there is an interesting example down South. I know colleagues in DSD are looking at those issues. Very few of the interventions are costless; they usually involve some form of public help. It is just symptomatic of the fact that there are more needs and challenges than there is resource available.

#7447 headmelter

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Posted 30 September 2012 - 02:06 PM

I have now bought a house so thought it appropriate to post a note in the original thread...... Nearly 6 years, 549 pages, 8,228 posts and 661,720 views....... It's been a blast. :wacko: :P :D
Insanity is hereditary .......you get it from your kids.!

GREEN & GOLD UNTIL WE'RE SOLD.

#7448 p.p.

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Posted 23 October 2012 - 08:17 AM

I have now bought a house so thought it appropriate to post a note in the original thread...... Nearly 6 years, 549 pages, 8,228 posts and 661,720 views....... It's been a blast. :wacko: :P :D


nice one

just for you (enjoy)

http://www.youtube.com/watch?v=eCD_MjTwP_Y
even a stopped clock gives the right time twice a day

When they come a wull staun ma groon, Staun ma groon al nae be afraid
Thoughts awe hame tak awa ma fear, Sweat an bluid hide ma veil awe tears

my blog

#7449 macbeth79

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Posted 07 February 2014 - 07:37 PM

I have now bought a house so thought it appropriate to post a note in the original thread...... Nearly 6 years, 549 pages, 8,228 posts and 661,720 views....... It's been a blast. :wacko: :P :D


How much did you buy it for, and how much was it worth in 2007.




#7450 headmelter

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Posted 18 March 2014 - 09:48 AM

How much did you buy it for, and how much was it worth in 2007.




I'm on a flying visit so I'll be brief...
To give you some idea the house I bought was only 'worth' what I was prepared to pay for it. But I paid approximately 48% less than someone else was prepared to pay for it in 2007.;)
I wouldn't say I got a bargain but I believe I got value for money... It works out cheaper than renting and the current mortgage deals, if you have a decent deposit, means a fix is possible for 5-10years. So if you're 'financially aware', planning or have a family and are prepared to set down roots, my opinion is, now is a good a time as any.
Don't forget a house is a home...not an investment.... This is the view I took anyway. B)
Insanity is hereditary .......you get it from your kids.!

GREEN & GOLD UNTIL WE'RE SOLD.




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