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Smash Reckitt

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About Smash Reckitt

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  1. Reeds Rains office on the Cregagh Road seem to handle a reasonable amount of repo traffic. This is one of theirs which I know is a repo: http://www.propertynews.com/brochure.php?r=1&c=2&s=120903702&i=1&p=5526RR200307716&fp=1&sort=h2l Actually a pretty nice, spacious house, with good sized garden in a decent area. It's been on the market for several months, maybe a year now, but having viewed it, I think i can see whats putting people off. Firstly, it's directly facing the old Lisnasharragh High School which has been boarded up for two years; a large derelict site across the road isn't too appealing. Second, all the rooms have urinal blocks on the window sills as if to mask an unpleasant odour. That seemed a bit odd. But overall, I reckon at a price of say, 110k, this would be half decent value for someone who didn't mind the unknown quantity across the road.
  2. I had an appointmant with a Halifax mortgage advisor during the week to get the lie of the land. Wanted to know are banks still lending, if so, how much, and on what terms etc to me as a FTB. I got an illustration on a loan amount of 140K: 60% LTV 4.69% £790 pm (repayment mortgage) 75% LTV 4.79% £798 pm 85% LTV 6.44% £935 pm 90% LTV 7.09% £992 pm Hopefully this info is useful; this is actual up-to-date data from a major high street name. The conclusion I took from it was, you need a 25% deposit to get a half decent deal. Even a 15% deposit (hefty enough in my view) gets you a crap rate. This tells me all I need to know about where the Halifax sees house prices going in the near future... Interestingly, the maximum they were prepered to lend was still 5x salary. In my view still too much. And most amazingly, they didn't ask for one shred of evidence that my claimed salary was true! Maybe they do this further along in the process if you apply?
  3. From Bangor meself Mr Slump. Know what you mean, have dealt with Ballyholme Halifax myself, and found them to be a bit better than most EA's in terms of treatment. (Also found this with Ballyhackamore Halifax, not sure if they're still in business.) Probably its because they're backed by a major national chain they don't need to resort to cowboy tactics etc. Incidentally, one of the worst I found for the aforementioned tactics/ill treatment is Neill's in Bangor. Walked in about 15 months ago, explained that I was a first time buyer looking for something around 120k or less. The girl fought hard to supress a smirk, and told me she couldn'd remember the last time they'd sold something for that little. Made me feel like a right tool...
  4. Your BLTs? You in the sandwich business too?
  5. Think this one is just on the market. http://www.propertynews.com/brochure.php?p=PWCPWC1431 For me, this type of house coming on at this price is significant. Admittedly, it's one bed (which is weird because I thought these houses were 2 bed as standard), but at peak these east Belfast terraces were commanding 150k easily, close to 200k in some cases. The whole lower Cregagh/Castlereagh area was BTL mecca, and even rough "do-up" jobs were going for big money. It'll be very interesting to see where the prices end up in this area, where investors represented a sizeable chunk, dare I say it, the majority of purchasing activity during the boom. Without that propping the market up, I think prices could go very low indeed.
  6. WRT the "no gloating/anti-glee" sentiment expressed in recent posts; absolutely agree. I wouldn't wish ill on regular punters & families who stand to lose from any crash in values. As for the "investors" and get rich quick merchants, drop the trousers, bend over and take what's coming to you... Anyway, just a thought, but with multiple job losses being announced on newsline, and NI not making the Euro finals, does anyone else sense a kind of feel-bad factor descending on Northern Ireland at the moment? They say that sentiment is what drives markets...
  7. @ CBW, Good piece. Gets the point across in no uncertain terms without veering into fanatic territory. What's your strategy for distribution? Is this going to friends etc, or a wider audience i.e. general public? If so, how?
  8. Reduction http://www.estatemate.com/property/sale/49...;search=belfast http://www.propertynews.com/brochure.php?r...amp;p=PNC186339 30K off and it's still too dear. A mate of mine bought one across the road June 06 for 160K. These aren't bad houses though. An offer of 25% under asking (150K) might be worth a go. Anybody think he'd bite?
  9. http://www.propertynews.com/brochure.php?r...mp;p=PWBPWB0646 I'm starting to see more of this type of sales pitch. Not only admitting the drop, but quite open about the amount. (I'm assuming the agent isn't lying and overstating the reduction). Can you afford to wait any longer? Well yes, If the price continues on its current trajectory!
  10. Developers getting the wobbles? http://news.bbc.co.uk/2/hi/uk_news/norther...and/7027953.stm
  11. Have a look at the first line of the description on this one. http://www.propertynews.com/brochure.php?r...amp;p=PNC246261 "Derive significant delight"??? Wow. Didn't realise selling houses was this much fun. Especially in this Market...
  12. Hi All, First time posting, but have been following the HPC site in general and this thread in particular for many months now. It is clear by now to anyone following the Northern Ireland market that prices have in real terms dropped and are continuing to do so. For example small terraces in Belfast that were asking 180K and selling for more at the height of the frenzy (pre Easter this year) are now not doing so. The reality of the situation is that any given house sold today in NI will likely change hands for less cash than it would have in say, February this year. A price drop. With this in mind I find it funny how the media refers to the negative equity issue. They always refer to "the looming spectre of the return of negative equity" or something similar, reluctantly acknowledging that it may have existed once, but seemingly unable to grasp the possibility that it may exist here in NI in 2007. Given that the market is softening, there must be people out there right now who are caught in a negative equity situation. How long until these horror stories begin to filter through in the BBC NI news or Tele property supplement. Or will they at all? Is negative equity taboo to NI mainstream media who have fallen in love with the feelgood factor of rocketing house prices? Cheers
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