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I have been following a "typical" detached bungalow in a nice area (east of Brighton). On the market for ages at 285 and I just received an email offering it for 260k. Anyone buying now will only offer 250k to get below the tax threshold. In reality it won't shift right now for over 250. This is a big drop and right at around 10% for mid year. 20% down by Crimbo looks like a dead cert IMO.
I am feeling most bouyant.
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Bellwether Property Near Me Drops 25K
Looks like 10% down so far this year
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#1
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Posted 29 July 2010 - 12:21 PM
Predictions for 2010 (forecast on Crimbo 2009)
1. The HPC will gather pace by early Spring sending house prices down by at least another 15-20% with further joy to come in 2011 as prices continue to fall. The year will be characterised by the collapse and fall of BTL as negative equity and rising IR forces the majority out. The crash will have its 50-60% off before it is satisfied. [As of 19th May, 2010 Sterling is back below 1.50 and the Euro is having a bad year.]
2. Brown will be gone long before the June deadline with Cameron in with a majority of around 44 seats.[Cameron won and with the Coalition does seem to have a decent working majority]
3. Gold will crash as deflation spreads accross the globe. Sterling will be back below 1.50 to the $ and the Euro will not have a good year. [As of 19th May the clock still ticks for the next to last bubble that formed in the Brown years--the other is UK housing]
1. The HPC will gather pace by early Spring sending house prices down by at least another 15-20% with further joy to come in 2011 as prices continue to fall. The year will be characterised by the collapse and fall of BTL as negative equity and rising IR forces the majority out. The crash will have its 50-60% off before it is satisfied. [As of 19th May, 2010 Sterling is back below 1.50 and the Euro is having a bad year.]
2. Brown will be gone long before the June deadline with Cameron in with a majority of around 44 seats.[Cameron won and with the Coalition does seem to have a decent working majority]
3. Gold will crash as deflation spreads accross the globe. Sterling will be back below 1.50 to the $ and the Euro will not have a good year. [As of 19th May the clock still ticks for the next to last bubble that formed in the Brown years--the other is UK housing]
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#2
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Posted 29 July 2010 - 12:30 PM
Realistbear, on 29 July 2010 - 01:21 PM, said:
I have been following a "typical" detached bungalow in a nice area (east of Brighton). On the market for ages at 285 and I just received an email offering it for 260k. Anyone buying now will only offer 250k to get below the tax threshold. In reality it won't shift right now for over 250. This is a big drop and right at around 10% for mid year. 20% down by Crimbo looks like a dead cert IMO.
I am feeling most bouyant.
I am feeling most bouyant.
I'm going to put my house on at £1 million and then drop the asking price to £500K next week. That's a 50% drop in a week, by Christmas people will be paying other people to have take their houses off their hands. Hooray!
#3
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Posted 29 July 2010 - 12:30 PM
Realistbear, on 29 July 2010 - 01:21 PM, said:
I have been following a "typical" detached bungalow in a nice area (east of Brighton). On the market for ages at 285 and I just received an email offering it for 260k. Anyone buying now will only offer 250k to get below the tax threshold. In reality it won't shift right now for over 250. This is a big drop and right at around 10% for mid year. 20% down by Crimbo looks like a dead cert IMO.
I am feeling most bouyant.
I am feeling most bouyant.
THe RB index.......sample one bungalow............based on asking prices.............as much use as a chocolate teapot!!!!!!!!
Get real RB....if you want to claim your 20% off by the end of the year you will have to hope for actual falls on the main indices (Haliwide and LR). The Nationwide fell by 0.5% today.....so only 19.5% drops required in 5 months!
A big call from RB on June 4th 2010......Let us see how he does:
"The market is sick, its dying and it is going to drop another 20% this year and more in 2011"
May indeces:
Halifax £167,570
Nationwide £169,162
"The market is sick, its dying and it is going to drop another 20% this year and more in 2011"
May indeces:
Halifax £167,570
Nationwide £169,162
#4
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Posted 29 July 2010 - 12:31 PM
Realistbear, on 29 July 2010 - 01:21 PM, said:
I have been following a "typical" detached bungalow in a nice area (east of Brighton). On the market for ages at 285 and I just received an email offering it for 260k. Anyone buying now will only offer 250k to get below the tax threshold. In reality it won't shift right now for over 250. This is a big drop and right at around 10% for mid year. 20% down by Crimbo looks like a dead cert IMO.
I am feeling most bouyant.
I am feeling most bouyant.
Let me know where it is and I will gazump you!
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.
The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.
The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.
The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.
The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.
#5
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Posted 29 July 2010 - 12:36 PM
Realistbear, on 29 July 2010 - 01:21 PM, said:
I have been following a "typical" detached bungalow in a nice area (east of Brighton). On the market for ages at 285 and I just received an email offering it for 260k. Anyone buying now will only offer 250k to get below the tax threshold. In reality it won't shift right now for over 250. This is a big drop and right at around 10% for mid year. 20% down by Crimbo looks like a dead cert IMO.
I am feeling most bouyant.
I am feeling most bouyant.
I hope that you find somewhere you like soon so that you can enjoy some peace.
Elections are an advance auction on the sale of stolen goods.
All previous attempts to base money solely on intangibles such as credit or government edict or fiat have ended in inflationary panic and disaster. -- Winston Churchill
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.
–Thomas Jefferson
All previous attempts to base money solely on intangibles such as credit or government edict or fiat have ended in inflationary panic and disaster. -- Winston Churchill
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.
–Thomas Jefferson
#6
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Posted 29 July 2010 - 12:39 PM
I have bought a newish (5 years) house in November 2006. I talked the vendor down 30% off peak 2004 price am am paying less than the 2002 price. I feel prices will continue to drop down to the 2001 price but saving for 5 years hopefully means i wont be stung. The price i am paying isn't much above the price the vendor paid for the place when it was new in 2000. However some idiot is trying to flog an identical house on my road for 55k above the price i paid, one month later!?!?! The housing market is frothy, no-one ever knows what the value of a house is, the value is what someone is willing to pay, make sure you pay alot less than the asking price.
Free to collect, like ebay but you dont pay, you just have to collect
QUOTE (sledgehead)If you make a living from something, you are a professional something: it is your profession. You could bake dog turds and flog them as ornaments. If that's how you make your living, you ARE a professional dog-turd baker. Period
QUOTE (Rolling Stone 13th July 2000)The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
QUOTE (Soon Not a Chain Retailer @ Aug 30 2009, 01:03 AM) Society should provide trampolines not safety nets.
QUOTE (GordonBrown Jan 27 2008 (warning about the coming inflation?))if you don't get the skills you wont get a job
if you get the skills you will earn ALOT of money
Free to collect, like ebay but you dont pay, you just have to collect
QUOTE (sledgehead)If you make a living from something, you are a professional something: it is your profession. You could bake dog turds and flog them as ornaments. If that's how you make your living, you ARE a professional dog-turd baker. Period
QUOTE (Rolling Stone 13th July 2000)The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
QUOTE (Soon Not a Chain Retailer @ Aug 30 2009, 01:03 AM) Society should provide trampolines not safety nets.
QUOTE (GordonBrown Jan 27 2008 (warning about the coming inflation?))if you don't get the skills you wont get a job
if you get the skills you will earn ALOT of money
#7 Guest_Noodle_*
Posted 29 July 2010 - 12:40 PM
Minos, on 29 July 2010 - 12:36 PM, said:
I hope that you find somewhere you like soon so that you can enjoy some peace.
I guess RB's got Grandkids in the UK thus he stays. For a tenth of the price of that bungalow there are many much bigger bungalows available in other countries. Sat in one right now.
How big is it RB, the bungalow?
#8
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Posted 29 July 2010 - 12:51 PM
Maybe they just decided that they actually want to sell it.
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Posted 29 July 2010 - 04:09 PM
catmandu, on 29 July 2010 - 08:51 AM, said:
Maybe they just decided that they actually want to sell it.
+1
Exactly-unless they follow all the indices day by day and know what Present Value means (and stuff like that). Errrr? No I don't think so.
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Posted 29 July 2010 - 05:25 PM
Realistbear, on 29 July 2010 - 02:21 PM, said:
I have been following a "typical" detached bungalow in a nice area (east of Brighton). ....
There are no nice areas east of Brighton.
Prices are falling in that area due to the big sh1t processing plant that is being built in Peacehaven and the incinerator in Newhaven.
Anyway it will be full of immigrants soon won't it RB?
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