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Wendyhouse

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About Wendyhouse

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  1. I have witnessed over the last couple of weeks a house go down by 5 grand and then this week go up by 5 grand!!
  2. Hi, I would most definitely not pay over the odds for a house even if I loved it. It has happened and it will happen again I am sure. Houses first of all are over priced still in my opinion and secondly in today’s economy who can afford to pay more than the real market value for a house. Especially when the future is so uncertain and everything is getting more expensive and people have less surplus money to spend. The bottom line is how much would you still love this house that you bought, if it ended up keeping you awake at night working out how you are going to pay the morgage, say if prices for food and fuel and stuff keep going up, or an unexpected thing occurs where you need to pay out extra money , or if interest rates go up. No, not worth it.
  3. Thought I would put up some RV comparisons, for house in the area. First figure is the asking price / second figure is the RV. 199/ 160 195/160 155/135 144/120 194/130 189/150 189/210 215/240
  4. Thanks for all of your insight. It is good to get other perspectives on these things!. It is hard to know what alot of properties are actually going for. I have to say that I loved the Upper Cavehill road house. However got it got it for a good price. I thought that when this house went sale agreed at its lower price tht the other houses in this street might have come down a bit. but they have not. I believe that 170 is too much for a semi in North Belfast.
  5. Yes I would have to agree with this. But I am from the mindset that if I am going to buy a house I would like to pay off as much as possible up front with the deposit. So I am borrowing less. In order to have a lesser burden in the long run.
  6. Hi! It is a detached house, 4 beds, 2 recetions. As I had mentioned already I think that this was a quick sale and the price had come down steeply and quickly. It is a lovely house postioned beauitfully as well.
  7. 3-bed semi anything from 120,000 to 135,000 - now this would be for the ones I am actually looking at. Outside this bracket they could be as low as 100,000 and as high as say 140,000.
  8. Thanks. No not at all. North Belfast, Cavehill area with a radius of 1 mile to 1.5 miles. I am trying, to view another house but to be honest it is 24,000 above the RV at present. Not sure how realistic the seller is......... The house can only be viewed during business hours. When I look again a lot of the houses have stayed at the same price for two years or more! When is the penny going to drop.
  9. Thought I would chip in with my experience since 2buyornottobuy was asking for other peoples experiences on what has been happening. I have been a lurker for a long while and have got so much help from this forum. I have spent the last number of years trying to build up a deposit for a house that I would like to buy one day for a more realistic price. I am a FTB. I have started looking again at houses since the summer. And I must say in my experience a lot of the properties I haver been interested in I feel are over-priced and very sticky in terms of the price coming down. - Maybe this is just in the area I have been looking in. (Although some ones that have been on for a couple of years have suddenly come down a bit). I feel that the house prices do not reflect the realities of the day. When I have tried to book viewings I have to say that the estate agents are not too eager in trying to get me an appointment to view a property. For example a lot will not do a viewing after 5:30pm or weekend viewings. Which I find a bit strange as in order to buy a house you need to be working and these are normally the hours of work. So I do question when times are tough why not more is being done to get potential buyers in the door to view houses. Again this is just my experience. The house that I last put an offer on was on a house that was £20,000 above the houses RV. My offer, which was a little cheeky but not completely unrealistic, was rejected outright. The asking price of this house, a semi, btw was the same price as a house round the corner in a much better area, which is double fronted, bigger and detached, ( this bigger house had come down quickly I think for a quick sale). I went to see another house in the autumn last year that was on for 195000, it went in the end for 150000 if the estate agent is to be believed. I found this out because the estate agent got an offer on this house and phoned me to ask if I would like to offer more. Might I state here that my offer for this house was lower previously. I also went to see another house that was being sold on behalf of a bank for offers around 110000, which was previously sold for 120000 in 2005. The house was in poor condition. I think sellers fail to remember that when an offer is made on a house that a huge amount of money is required up front in order to get a decent morgage. Maybe I am stating the obvious here. I also believe because of my experience that prices have not bottomed out yet and will not for a long while yet in my opinion. Wages are not going up. Petrol amd fuel are going up etc. Not sure if any of this is any use, but it is a start. Thanks
  10. Hi saw this, and thought it would be of interest. This is from the Times on-line. But this was also reported on Teletext this morning. New figures suggest the housing downturn is gathering pace as unsold properties build up and surveyors' confidence fallsGr�inne Gilmore and Gary Duncan Falls in house prices across the country may now be at their most severe since the property slump of the early Nineties, according to bleak figures today suggesting that Britain's housing downturn is gathering pace. A highly influential barometer of housing market conditions reports this morning that 49.1 per cent more surveyors found that house prices fell last month than saw them rise. The gloomy result is the worst since November 1992 in the closely watched poll carried out by the Royal Institution of Chartered Surveyors (RICS), when this “negative balance” fell as far as minus 60.1 per cent. December's figure compares with a negative balance of 40.6 per cent of surveyors who reported that prices were on the slide in November. With virtually every other reliable indicator of the housing market also pointing to grim conditions and falling prices, today's RICS report will deepen already intense gloom over prospects for homeowners this year. Related Links A sharp housing shock may be best Home economics - January's shock house price stats Buy-to-let Paragon resorts to crisis funding The RICS finds that confidence among surveyors in the outlook for both sales and prices fell last month to their lowest levels in a decade. House prices are seen to be falling in every area of England and Wales - although the results suggest that they rose slightly in Scotland. The heaviest falls appear to be taking place in the West Midlands and East Anglia, according to the survey's findings. Anxieties are being heightened by a growing build-up of unsold properties on estate agents' books, with stocks of homes up by a further 7.1 per cent in December, on the heels of a 9.1 per cent leap in the previous month, according to the RICS data. The survey's findings suggest that this increase in stocks - which threatens to act as a drag on house prices - may get worse, with December bringing a rise in new instructions by would-be sellers putting their homes on their market at the same time as demand remains seriously subdued. The number of new instructions to sell properties climbed last month, with a net 4 per cent more surveyors reporting that these rose rather than fell, the RICS reports. That compares with a balance of minus 7 per cent in November. There were scant signs of improvement in demand from potential buyers, with 25 per cent more surveyors saying than buyer inquiries fell last month than said they had risen. The surveyors' body said that the overall balance of supply and demand last month indicates the loosest market conditions since August 2005, during the last serious setback for the property market. Demand from buyers may be being sapped by the toll from the credit squeeze, as mortgage lenders toughen their criteria for making home loans and reduce the amounts they are willing to allow housebuyers to borrow. Ian Perry, a spokesman for the RICS, said: “The housing market is clearly feeling the pinch from the credit crunch and the round of interest rate hikes in 2007.” However, he argued that while sentiment “appears to have reached it lowest ebb” economic conditions now were vastly different from those that aggravated the housing downturn at the start of the last decade. Simon Rubinsohn, the RICS chief economist, drew some comfort from the survey's finding that demand in the market, although still falling, was not declining as sharply as previous results suggested. “It doesn't mean that we are over the worst - but we may at least be finding a floor,” he said.
  11. What type of house would you like to purchase? A three Bedroom house, semi detached and a garden. What can you afford? ie without going X4+ of income/3.25+ of joint income I have a small deposit that I am adding to. At this monet in time, I could probably go to £120,000 What drop in % terms do you need before it becomes affordable?40 -50% drop would be really nice. If you can afford to buy but are not willing to, how long are you willing to wait until you buy. I am willing at this monet in time to wait as long as it takes. But it would nice to buy somewhere within the next 2 years.
  12. Hi everyone, I was speaking to my sister yesterday and she was telling me that her friend bid on a house that was going for £167,000, but bid £30,000 below the asking price and got it. Also, a collegue, is trying to sell her house at the moment and finding she is not getting any viewings at all. She spoke to the EA and was told that they are just not shifting anything from their stock, and that she may have to consider lowering her price!
  13. Hi All, I read here earlier, on this forum the advice given to a member who was not sure whether to purchase a house that they had a bid on, and someone had replied that maybe they should rent and save their money instead. Well I came across this article in the Money section on MSN. I know it refers to house prices in England rather than here, but a few paragraphs in it says, that it is better to invest your money in a savings account rather than property. Now, I would love to be a FTB, but at the moment, the valuation price of a property in Belfast is far to wide a gap from the asking price, so I do not think i will be buying anytime soon. So for FTBs saving is the better option in my mind. House prices stalled By James Andrews October 01 2007 House prices are stalled and have not increased for two months in a row, new figures show. And after two months of zero growth, the average property value in England and Wales stands just 5% higher than in the same month last year, according to the latest data from housing research firm Hometrack. This is the smallest annual rise in house prices since October last year and the fifth drop in annual growth in a row. Currently you would be better off investing your money in a good savings account than in the property market. Hometrack, which looks at house price data from estate agents in every part of England and Wales, found demand from buyers fell in September along with the number of houses coming on to the market. The number of people looking to buy dropped 4.5% - the third monthly drop in a row and the longest sustained fall in interest since the second half of 2004. The only places in the UK to see any rise in values were London and the south-east of England - where prices rose a modest 0.1%. In September just 8.6% of postcode areas witnessed house price rises, the fewest number since November 2005. Higher mortgage rates and uncertainty over the financial markets were seen as responsible for the lack of confidence in property. But house prices are not yet falling, with sellers pulling their homes from the market and this lack of available properties supporting property values. "If anything there appears to be a tightening in supply in the face of greater uncertainty," said Hometrack director of research Richard Donnell. "While demand and sales volumes look set to remain weak over the rest of the year, a lack of saleable properties look likely to support achievable prices. "In contrast weaker demand is likely to impact most on asking prices which tend to bear the brunt of any decline in confidence." The average value of a home in England and Wales over September was £176,300.
  14. Saw the following on the BBC news website this afternoon and thought it may be of interest. Maybe the EA's should read it also. Mortgage lending slows, says Bank There are fewer buyers around for houses, new or old The property market is going through a clear slowdown, according to figures from the Bank of England. The number of mortgages approved for house purchase fell in August to 109,000, down from 120,000 a year ago. The increase in net mortgage lending in August was also down by 11% on the same month last year. The Bank's analysis makes it clear that mortgage lending has been slowing down since the start of the year, as higher interest rates have taken effect. Downturn The number of new mortgages approved for house buying - a good indicator of future trends in the property market - touched a recent peak of 128,000 in November 2006. We expect... a further fall in activity levels in the housing market over the coming months Simon Rubinsohn, RICS Although the figures are erratic from month to month, the trend since then has been downward, with the monthly average for the past six months now standing at 112,000. The Bank of England has raised interest rates five times since the summer of 2006, and the latest figures add to the growing evidence that this is at last having a dampening effect on the UK property market, outside London. Last week one of the UK's biggest mortgage lenders, the Nationwide building society, reported that annual house price inflation had fallen for the third month in a row, to stand at just 9%. Earlier in September, the Royal Institution of Chartered Surveyors said that in August slightly more of its members had seen house prices fall locally than saw them rise. That was the first time this had happened since October 2005. "This data predates the latest round of turmoil in credit markets, the Northern Rock saga and subsequent hikes in some tracker mortgage rates," said the RICS chief economist Simon Rubinsohn. "RICS' monthly housing market survey is showing a sharp drop in new buyer enquiries and we expect this to be reflected in a further fall in activity levels in the housing market over the coming months," he added. Housing equity Other figures from the Bank also showed a drop in home owners' enthusiasm for cashing in on the increased value of their properties. Mortgage slowdown? 109,000 new approvals Net lending down 11% Equity withdrawal drops to £10bn Source: Bank of England Housing equity withdrawal, where owners take out bigger mortgages to spend on things other than their homes, fell from £13.1bn in the first quarter of the year to £10bn in the second quarter. It was the third quarter in a row that this sort of borrowing has dropped and probably reflects the higher cost of borrowing seen since the middle of 2006. Since the start of 2000, UK home owners have borrowed £287bn, providing a very significant boost to peoples' incomes. In the second quarter of this year, housing equity withdrawal increased the after-tax income of all UK households by 4.5%.
  15. Yes there is. I think it is near City Hall somewhere. Maybe I will go have a look.
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