Exchanged Contracts Today

[Realistbear]

Exchanged contracts at around 16:50 today.

We sold our last house in 2003 due to a job move back in the UK. Its been a hellish 8 years watching prices rise and then fall. I have seen prices drop about 20% over the course of the last 18 monts or so and accept the probablility that prices will probably drop another 10-20% in my area (mosty retired, quite cheap compared with neighbouring Brighton). In the last 3 years we have had to move twice due to landlords wanting to sell.

Tired of waiting.

Reasons others might want to buy now rather than waiting:

1. Tired of waiting and its a strain on life generally

2. The market locally is mostly retired so any drops will be at the lower end of the range (10-20% down)

3. Rents are very high locally (in my area £1k pcm for a 2 bedroom bungalow)

4. There is a possibility, and I put it no higher than that, we have seen the best of the drop and the rest will be a long drawn out decline of maybe 10% this year, 5% the next, flat the next, up 1% the next, down 3% the next................ and being settled is more important than the gamble.

5. Mrs. Bear has had enough.

What would I recommend others to do if they are not tired of waiting?

Wait, the chnaces of property going up in the next 3-5 years are probably zero. Chances of a 10-20% drop are very good. If, which seems unlikely, we get serious inflation buying sooner rather than later makes sense. If you, like me, see LT deflation buying does not make sense unless you are tired of waiting.

[Pent Up]

Congratulations. Does this mean you will not be posting multiple news articles on here anymore?

[Killer Bunny]

If, which seems unlikely, we get serious inflation buying sooner rather than later makes sense. If you, like me, see LT deflation buying does not make sense unless you are tired of waiting.

S'funny, I would've thought with inflation comes higher and higher interest rates, eventually. I doubt prices will be any higher in 2020 than today.

[exiges]

RB Contra Indicator alert.. sell sell sell

[RentingForever]

Congratulations - I've enjoyed your posts.

Retiring to the great waiting room of Shoreham-to-Worthing?

[Democorruptcy]

I hope you are happy there.

[Realistbear]

Congratulations - I've enjoyed your posts.

Retiring to the great waiting room of Shoreham-to-Worthing?

Not quite--10 more years of work but yes, in the East of Brighton coastal 'burbs. Worthing to Shoreham side is nicer but I want to cut my commute down and deprive the oil companies of a bit of revenue. Properties under £250k, if nice, sell quickly around here but anything much above are dead in the water and due for some heftier drops.

Edited June 15, 2011 by Realistbear

[Deckard]

5. Mrs. Bear has had enough.

I feel your pain. Funny/scary how many important financial decisions in life hinge on the Her Indoors Factor

Edited June 15, 2011 by Greener Pastures

[Realistbear]

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html

Realistbear Exchanges Contracts

By Daily Mail Reporter

Last updated at 5:27 PM on 15th June 2011

Comments (0) Add to My Stories Share

Realistbear takes the plunge after 8 years of waiting

Hoursepricecrash.co.uk's is one of the leading advocates of a serious house price crash and one of their most accurate forecasters has stated that he is "tired of waiting" for the market to correct further.../

Read more:

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html' rel="external nofollow">

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html' rel="external nofollow">

UN-believable!!!!

[inflating]

Chances of a 10-20% drop are very good.

Sigh, I may well have to take this as a signal prices are about to recover strongly.

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html

Realistbear Exchanges Contracts

By Daily Mail Reporter

Last updated at 5:27 PM on 15th June 2011

Comments (0) Add to My Stories Share

Realistbear takes the plunge after 8 years of waiting

Hoursepricecrash.co.uk's is one of the leading advocates of a serious house price crash and

one of their most accurate forecasters

has stated that he is "tired of waiting" for the market to correct further.../

Read more:

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html' rel="external nofollow">

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html' rel="external nofollow">

UN-believable!!!!

sigh

[gf3]

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html

Realistbear Exchanges Contracts

By Daily Mail Reporter

Last updated at 5:27 PM on 15th June 2011

Comments (0) Add to My Stories Share

Realistbear takes the plunge after 8 years of waiting

Hoursepricecrash.co.uk's is one of the leading advocates of a serious house price crash and one of their most accurate forecasters has stated that he is "tired of waiting" for the market to correct further.../

Read more:

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html' rel="external nofollow">

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html

http://www.dailymail.co.uk/news/article-2003819/HPC.co.ukRealistbearExchnagesContracts.html' rel="external nofollow">

UN-believable!!!!

Are you going to invite us all to the house worming party

Edited June 15, 2011 by gf3

[LiveAndLetBuy]

As Eddie Izzard once said: people move to Eastbourne to retire, and then they die. And then they move to Bexhill.

[Realistbear]

Somewhat annoying that the £ has started to collapse.

I tell ye, its going to be a rough year from here on in. All the poisons that have been lurking in the mud are going to start hatching out again after a brief 2 year respite.

Will keep postig onhere every now and then because I have a feeling in my bones that this is the year that which has been doing well for a few years is about to crash. Its a question of doing the best you can amidst the carnage. Keeping a foot in the door with US investments as the rest of the world is about to get pneumonia whereas the states are already into their flu season.

[winkie]

Exchanged contracts at around 16:50 today.

We sold our last house in 2003 due to a job move back in the UK. Its been a hellish 8 years watching prices rise and then fall. I have seen prices drop about 20% over the course of the last 18 monts or so and accept the probablility that prices will probably drop another 10-20% in my area (mosty retired, quite cheap compared with neighbouring Brighton). In the last 3 years we have had to move twice due to landlords wanting to sell.

Tired of waiting.

Reasons others might want to buy now rather than waiting:

1. Tired of waiting and its a strain on life generally

2. The market locally is mostly retired so any drops will be at the lower end of the range (10-20% down)

3. Rents are very high locally (in my area £1k pcm for a 2 bedroom bungalow)

4. There is a possibility, and I put it no higher than that, we have seen the best of the drop and the rest will be a long drawn out decline of maybe 10% this year, 5% the next, flat the next, up 1% the next, down 3% the next................ and being settled is more important than the gamble.

5. Mrs. Bear has had enough.

What would I recommend others to do if they are not tired of waiting?

Wait, the chnaces of property going up in the next 3-5 years are probably zero. Chances of a 10-20% drop are very good. If, which seems unlikely, we get serious inflation buying sooner rather than later makes sense. If you, like me, see LT deflation buying does not make sense unless you are tired of waiting.

All the best to both of you....but why bring the Mrs into it as if you are trying to justify your reasons as to why you are doing something you are not 100% at ease with.

[Realistbear]

All the best to both of you....but why bring the Mrs into it as if you are trying to justify your reasons as to why you are doing something you are not 100% at ease with.

One has to live with the Mrs. It is really hard renting and moving every 6 months or so. From an investment point of view, buying now is not a good idea. But from a human perspective, having a roof over t' head and being settled is worth a lot. The sellers undersold the property by about 10% due to ignorance of the local market so I am probably only going to lose 10-15% if the market has a reasonable drop.

[Blue Nose Bear]

Exchanged contracts at around 16:50 today.

We sold our last house in 2003 due to a job move back in the UK. Its been a hellish 8 years watching prices rise and then fall. I have seen prices drop about 20% over the course of the last 18 monts or so and accept the probablility that prices will probably drop another 10-20% in my area (mosty retired, quite cheap compared with neighbouring Brighton). In the last 3 years we have had to move twice due to landlords wanting to sell.

Tired of waiting.

Reasons others might want to buy now rather than waiting:

1. Tired of waiting and its a strain on life generally

2. The market locally is mostly retired so any drops will be at the lower end of the range (10-20% down)

3. Rents are very high locally (in my area £1k pcm for a 2 bedroom bungalow)

4. There is a possibility, and I put it no higher than that, we have seen the best of the drop and the rest will be a long drawn out decline of maybe 10% this year, 5% the next, flat the next, up 1% the next, down 3% the next................ and being settled is more important than the gamble.

5. Mrs. Bear has had enough.

What would I recommend others to do if they are not tired of waiting?

Wait, the chnaces of property going up in the next 3-5 years are probably zero. Chances of a 10-20% drop are very good. If, which seems unlikely, we get serious inflation buying sooner rather than later makes sense. If you, like me, see LT deflation buying does not make sense unless you are tired of waiting.

Well done RB hope you and Mrs RB are very happy in your new home. Enjoy and keep away from this site.

That's it then folks, crash cruise speed + within 2 months YEHAAAAAAAAAAAAAAAAAA!!!!!

Sorry Rb couldn't resist

[mercsl]

Well done RB......better to get on with your life at some point and enjoy things

Only visited Eastbourne recently ....quite a nice well looked after town without the tatty seafront. Even

Soverign Harbour looked fairly nice and tempted by some flats directly overlooking the sea. Of course every place gets some chavs it seems but wasn't too bad.

Had not factored in % of retired people making house prices sticky in an area , especially if it is keenly sought after like seaside places. To some degree recession proof.

[scottbeard]

One has to live with the Mrs. It is really hard renting and moving every 6 months or so. From an investment point of view, buying now is not a good idea. But from a human perspective, having a roof over t' head and being settled is worth a lot. The sellers undersold the property by about 10% due to ignorance of the local market so I am probably only going to lose 10-15% if the market has a reasonable drop.

Good luck - don't forget us!!

Totally agree, the worst aspect of renting is being forced to move.

[19 year mortgage 8itch]

RB Contra Indicator alert.. sell sell sell

I do hope so

[winkie]

One has to live with the Mrs. It is really hard renting and moving every 6 months or so. From an investment point of view, buying now is not a good idea. But from a human perspective, having a roof over t' head and being settled is worth a lot. The sellers undersold the property by about 10% due to ignorance of the local market so I am probably only going to lose 10-15% if the market has a reasonable drop.

No I am only being pedantic....you have made your decision, you have done your homework, you have got your discount, you have waited long enough, you know where you stand and most importantly you are undertaking a long term commitment that you can enjoy and can afford to enjoy....keep posting, joint the few home buyers that are still wishing for further house price corrections.

[Bruce Banner]

Well done RB......better to get on with your life at some point and enjoy things

Ah yes, that old chestnut "You can't enjoy life unless you own a house" .

How many Buy to Lets do you have?

[“Nasty Piece of work”]

What a load of guff to suggest if you do not buy somewhere you life is on "hold". Usually I would have to watch Krusty to hear that rubbish, I do not as I do not like projectile vomiting.

[Bruce Banner]

What a load of guff to suggest if you do not buy somewhere you life is on "hold". Usually I would have to watch Krusty to hear that rubbish, I do not as I do not like projectile vomiting.

It's a favourite line trotted out by those whose "wealth" is tied up in illiquid, depreciating, over leveraged "assets" .

[mfp123]

dont mean to sound harsh but you seem to have bought for the reasons you generally advocate against

your reasons are almost a carbon copy of the reasons other people have bought over the years too and got slated for on here.

if i was going to be really harsh id say you encouraged a lot of people not to buy and they maybe missed out/put themselves on hold. and then you go and buy yourself for the reasons youd advise not to....

Edited June 15, 2011 by mfp123

[Gigantic Purple Slug]

Congratulations.

If you see a place you like at a price you're willing to pay why not buy ?

Presently I'm crapping myself that my assets will become worthless before I can trade them for a pile of bricks, but still don't see anything near me that remotely fills the price/specification criteria.

I need to see price falls of at least another 10%.