[pussnboots]

Hey all........l been lurking for a while and have enjoyed the info and knowledge from posters.....

i'm thinking of taking the plunge and have now put a bid in for a house, it supposely has another bidder and i went 2k more and now waiting to see what happens now,......im sure the owners and estate agent will be biting my fingers in glee of having a couple of offers in a "downturn"........ ...........

The house in question which ticks all my boxes ......., cheaper when looking at nationwide quartly reports 2003 and also the RV is same price that took place in 2005...........so house has drop 50%+ from peak.......i know i should wait for further drops,but when paying 6k a year in rent it looks good and i am putting a large deposit down and have a fairly secure job at lowly wage but still have a few bob from my str fund for a rainy day left over......maybe i will try a bit of gazundering as i got gazumping before at the peak....

am i mad ????

[Si1]

pussnboots, on 25 February 2012 - 10:53 AM, said:

it supposely has another bidder

[Asheron]

pussnboots, on 25 February 2012 - 10:53 AM, said:

Hey all........l been lurking for a while and have enjoyed the info and knowledge from posters.....

i'm thinking of taking the plunge and have now put a bid in for a house, it supposely has another bidder and i went 2k more and now waiting to see what happens now,......im sure the owners and estate agent will be biting my fingers in glee of having a couple of offers in a "downturn"........ ...........

The house in question which ticks all my boxes ......., cheaper when looking at nationwide quartly reports 2003 and also the RV is same price that took place in 2005...........so house has drop 50%+ from peak.......i know i should wait for further drops,but when paying 6k a year in rent it looks good and i am putting a large deposit down and have a fairly secure job at lowly wage but still have a few bob from my str fund for a rainy day left over......maybe i will try a bit of gazundering as i got gazumping before at the peak....

am i mad ????

Please wait 2 more years. I beg you. Do not buy a house at peak prices. They have another 40% to drop minimum

[Si1]

Asheron, on 25 February 2012 - 11:18 AM, said:

Please wait 2 more years. I beg you. Do not buy a house at peak prices. They have another 40% to drop minimum

this post needs more smileys!

;)B)B)

[Asheron]

Don't be suckered into buying a house.

It's a suckers market right now.

You have to think about the 95% mortgages, how they will make everyone renting buy a New House, and how land lords will be forced to sell their 2nd or 3rd houses because No one wants to pay rent when they can get a 95% mortgage.

The government knows a crash is coming, so what do they do? sucker as many idiots in as possible before the Crash.

The aim of the game is to turn you into a Debt Slave.

So you either take my advice or go along with the rest of the sheep.

This post has been edited by Asheron: 25 February 2012 - 11:25 AM

[shifty_FTB]

pussnboots, on 25 February 2012 - 10:53 AM, said:

Hey all........l been lurking for a while and have enjoyed the info and knowledge from posters.....

i'm thinking of taking the plunge and have now put a bid in for a house, it supposely has another bidder and i went 2k more and now waiting to see what happens now,......im sure the owners and estate agent will be biting my fingers in glee of having a couple of offers in a "downturn"........ ...........

The house in question which ticks all my boxes ......., cheaper when looking at nationwide quartly reports 2003 and also the RV is same price that took place in 2005...........so house has drop 50%+ from peak.......i know i should wait for further drops,but when paying 6k a year in rent it looks good and i am putting a large deposit down and have a fairly secure job at lowly wage but still have a few bob from my str fund for a rainy day left over......maybe i will try a bit of gazundering as i got gazumping before at the peak....

am i mad ????

what area are you looking at?

[talksalot81]

I think we are all deluded because every time I hear from an EA, the property has offers in and is going fast. Hmmm.

[peter_2008]

pussnboots, on 25 February 2012 - 10:53 AM, said:

Hey all........l been lurking for a while and have enjoyed the info and knowledge from posters.....

i'm thinking of taking the plunge and have now put a bid in for a house, it supposely has another bidder and i went 2k more and now waiting to see what happens now,......im sure the owners and estate agent will be biting my fingers in glee of having a couple of offers in a "downturn"........ ...........

The house in question which ticks all my boxes ......., cheaper when looking at nationwide quartly reports 2003 and also the RV is same price that took place in 2005...........so house has drop 50%+ from peak.......i know i should wait for further drops,but when paying 6k a year in rent it looks good and i am putting a large deposit down and have a fairly secure job at lowly wage but still have a few bob from my str fund for a rainy day left over......maybe i will try a bit of gazundering as i got gazumping before at the peak....

am i mad ????

I would advise to wait until it drops to 2002/2003 price level. Have you checked local price history? I found most UK post codes saw a big jump somwhere around 2002/2003 which seems to be the bulk of bubble. The reason for this target is that property price around that time reflected what people can afford, if they need to pay 25% deposite and borrow only up to 3 times salary, so it's last time we saw FAIR prices.

[Ausdave]

pussnboots, on 25 February 2012 - 10:53 AM, said:

Hey all........l been lurking for a while and have enjoyed the info and knowledge from posters.....

i'm thinking of taking the plunge and have now put a bid in for a house, it supposely has another bidder and i went 2k more and now waiting to see what happens now,......im sure the owners and estate agent will be biting my fingers in glee of having a couple of offers in a "downturn"........ ...........

The house in question which ticks all my boxes ......., cheaper when looking at nationwide quartly reports 2003 and also the RV is same price that took place in 2005...........so house has drop 50%+ from peak.......i know i should wait for further drops,but when paying 6k a year in rent it looks good and i am putting a large deposit down and have a fairly secure job at lowly wage but still have a few bob from my str fund for a rainy day left over......maybe i will try a bit of gazundering as i got gazumping before at the peak....

am i mad ????

Ultimately you need to make the best decision for you and your family.
I don't believe there will be and all out crash but there probably will be further falls in the market.
Saying that in many areas prices are at 2003 levels or below and many properties are significantly below RV.
If you find the right house, you have a secure job and decent deposit - buy and get on with enjoying life.

Good luck.

[2buyornot2buy]

Ausdave, on 25 February 2012 - 02:44 PM, said:

Ultimately you need to make the best decision for you and your family.
I don't believe there will be and all out crash but there probably will be further falls in the market.
Saying that in many areas prices are at 2003 levels or below and many properties are significantly below RV.
If you find the right house, you have a secure job and decent deposit - buy and get on with enjoying life.

Good luck.

Emm all out? Prices are down 50% from peak, 11% in the last 12 months. We are also bang in the middle of an all out crash. Look left, look right nothing is going to improve anytime soon.

[Ausdave]

2buyornot2buy, on 25 February 2012 - 02:58 PM, said:

Emm all out? Prices are down 50% from peak, 11% in the last 12 months. We are also bang in the middle of an all out crash. Look left, look right nothing is going to improve anytime soon.

You obviously disagree - but that's what's great about life and forums.
Do people want a cheap house or an affordable home?
If you've got a job, a deposit and are happy with the price on finding a home why not buy?
If not, wait it out for a future that no one can really predict and hope for a cheap house to appear.

And wait...

[2buyornot2buy]

Ausdave, on 25 February 2012 - 03:06 PM, said:

You obviously disagree - but that's what's great about life and forums.
Do people want a cheap house or an affordable home?
If you've got a job, a deposit and are happy with the price on finding a home why not buy?
If not, wait it out for a future that no one can really predict and hope for a cheap house to appear.

And wait...

I disagree with your definition of "all out". Yes.

[Ausdave]

[quote name='doccyboy' timestamp='1330182535' post='3270595']
(including signing on here as members all innocence and butter wouldn't melt in their mouths.)
Directed towards me?
If so disappointed - and totally incorrect.
If not I apologise for my sensitivity and reading too much into things.

[Bruce Banner]

What is it with Australian posters on this forum, have they all got rings through their noses?

[pmf170170]

pussnboots, on 25 February 2012 - 10:53 AM, said:

Hey all........l been lurking for a while and have enjoyed the info and knowledge from posters.....

i'm thinking of taking the plunge and have now put a bid in for a house, it supposely has another bidder and i went 2k more and now waiting to see what happens now,......im sure the owners and estate agent will be biting my fingers in glee of having a couple of offers in a "downturn"........ ...........

The house in question which ticks all my boxes ......., cheaper when looking at nationwide quartly reports 2003 and also the RV is same price that took place in 2005...........so house has drop 50%+ from peak.......i know i should wait for further drops,but when paying 6k a year in rent it looks good and i am putting a large deposit down and have a fairly secure job at lowly wage but still have a few bob from my str fund for a rainy day left over......maybe i will try a bit of gazundering as i got gazumping before at the peak....

am i mad ????

The reference to RV makes me think that Pussnboots is based in N Ireland, hence the diveregence of opinions as to the extent of the correction. A very different market to the mainland UK.