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House Price Crash Forum


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About jps

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  1. Hi, I've been watching a number of houses in my local area very carefully. There were several nice three bedroom houses that came on the market at 275k then fell to 250k and sold. Also a new build for 365k that was cut to 310k then two identical ones came back on the market because people dropped out and then all three sold within the week for about 310k. I'm pleased to see prices falling so nicely but it's a shame that so many houses were suddenly sold together. I thought the prices could fall further before people would cave. There are now very few on the market in the small village I am watching. I wonder if it's just not the season now to start the selling process? Jen
  2. Hi, My friends and I are staying in a shared rented house, though all in our 30s. We figure when prices fall we'll be in a perfect position. Also we have such a great house for the money as the market is saturated with lovely rented houses. J
  3. Have you seen this? http://*******.com/29nxpe Anecdotal evidence of prices in Cambridge. J
  4. It seems to me from what I'm reading that the bottom is already falling out of the market but that people are not realizing and lowering prices. I wonder how we persuade them to do that. It is just beginning now so those who have the sense to lower prices and sell before their houses go back down to the their original purchase value will do fine. I wonder why they don't realize that. J
  5. Hi, There is a studio flat that I looked at buying in Cambridge about 3 or 4 years ago. At that time it was advertised at 90k and went for 100k. In the last few weeks I have seen it advertised for 117k but this week it is reduced to 109k. Is anybody else out there tracking individual properties like this to their prices rise and fall? I find that sort of data particularly useful, as I thought 100k hugely excessive three years ago on this house (room really). It just shows how far prices still have to fall. Bizarrely, I just noticed that although prices are clearly falling in the Cambridge property newspaper over consecutive weeks, there are also several rental properties with their rents reduced. Weird. J
  6. The next Cambridge property auction is on Dec 12th. We Cambridge bears should go along and steadfastly refuse to bid (like we have any money anyway). http://www.cheffins.co.uk/events.asp?depar...ropertyauctions J
  7. Hi, Has anybody noticed any repossessions in their local area? I found a house round the corner recently that had been repossessed, and then last week in the Cambridge property news there was a repossessed property advertised. Although in principle we know that repossessions have to happen if prices fall, it always seems quite shocking to see these things happening to real individuals in your own neighbourhood. (Though I guess some people are also shocked that we still live in a shared rented house when all four of us are over thirty. They wouldn't be if they knew how much money we save by doing it.) The repossessed house round the corner had a sort of threatening note in the window that said something like 'Occupants are requested to remove their chattels within a 14 day period.' It seemed very blunt. I had no idea that it happened like that. J
  8. I've also noticed a phenomenal number of 'new' and 'new price' houses in the cambridge property magazine. Not just the dozen or so new properties it use to be but 90% of all properties labelled one or the other. Also I have made a detailed comparison of the magazine from one week to the other. Estate agents claim that it contains all properties but I can tell that some are missing. Those that say 'new price' this week were not in it last week, and so on. This makes me think there must be a lot of stock. Has anybody else noticed this? J
  9. Yes I see. I hadn't thought about it that way. At the time I was still a teenager living in the north and wondering why people in the south had spent such a lot of money to buy houses anyway. All I knew about it was when the BBC news showed all those streets full of for sale signs and people all sad saying they were in negative equity, which first time buyers jumped up and down in glee at just having bought huge houses for 1/4 the normal price (or whatever, I don't remember the numbers). The thing that sticks in my mind though it that the couple I saw interviewed said that they had bought their mansion of a 3 bed 1970s mid-terrace for 120k and they'd scrimped and saved to buy it and now they were in negative equity. But if I think now about what I could buy for 120k in this neck of the woods (nothing), it really brings it home to me how much house prices have gone up even since the last peak. From the graph on the home page of housepricecrash it seems that just because we have gone up further than last time doesn't mean that we can't go down just as far as last time. That would be quite some drop wouldn't it? Thanks, J
  10. By the way, where do we find those halifax stats? I'd like be able to have them to hand to show people who don't believe me. :-) J
  11. Fabulous! Thanks to both of you. :-) J
  12. Hi, Were you in Cambridge for the last crash then? I know a lot of people who own houses in Cambridge and when I say to them that I won't buy yet as house prices are about to fall, they say 'Of course prices will never fall in Cambridge though.' as if Cambridge is just too posh to be affected by such a silly thing as the economy. It's incredibly frustrating as I don't actually know anyone in Cambridge who was there for the last crash, so we have no way of settling the argument about whether Cambridge was actually affected last time round. Any more anecdotal evidence would be much appreciated. J
  13. Hi, I bought a copy of the Cambridge property news last week and it is absolutely full of houses labelled 'new' or 'new instruction' or 'new price'. Many many of the pages have all of the properties labelled in this way. I bought a few copies of this about two years ago and at that time very few would be labelled 'new' or 'new price'. I wondered if this might mean that many more houses were coming on the market and staying there until the had to drop in price? I am not very up on house prices in this area but it seemed to me that many of that properties were smallish with 1 or 2 bedrooms, which is what I would expect if buy-to-let people were offloading properties. Is anybody out there keeping an eye on Cambridge property prices and if so do you interpret this in the same way? Thanks, J
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