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House Price Crash Forum


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About jimvarney

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    HPC Newbie

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  1. Anyone checked out the south? Maybe am crazy but, i think the south may recover quicker! Anyway, i have been an invester for bout 5 yrs in N.I. fortunately, not so badly of, quittin while i was ahead. Looking for site in south as maybe holiday home. Put an offer on 2 sites together, 135 euro's, each site 67.5euro's! (£54k) Build costs will be approx 100euro's each leaving them 167euro's or £135k for 2200sq ft houses on 1/2 acre with sea views. Does that sound good or am i crazy doing this... Am thinkin rent should near enough cover the mortgage and if things do get better, then all good. ps, redcastle donegal area
  2. Wouldn't worry about the market reviving in spring.......lol Well maybe spring 2010
  3. My last piece of property fell through today, damnnnnn that! Anyone interested in a cheap house limavady????? Any takers... http://www.propertynews.com/results.php?c=...ummond&st=q PRICE VERY NEGOTIABLE .......
  4. And for anyone sittin back sayin prices haven't fallen, what planet are you on. If a house goes on the market some people still say,''it has to be worth that''.........lol But the real 'value' of something or 'price' is only what people are willing to pay..
  5. class...more of the same please Give ir 6 months til builders run out of money, and need to sell. Hopefully see banks steppin in and auctioning of whole developments. One other thing, i am toying with the idea of starting into property auctions.. Good or bad idea? Big in england, but could be big here, with the market currently??
  6. To all: Out of curiousity, who wants the prices to fall in N.Ireland? Obviously ftb's, and well me as an invester who has left the market.. But what are the implications of this hpc happening? I already know of hundreds out of work, who have mortgages to pay, builders yards, concrete yards, quarries etc layin of workers. Not sure about everyone else, but most of my friends have invested heavily in property and if things go the way i believe they will go, they are in deep s***.. But overall, what are the effects in the whole economy? And as for the government, lets face it, they will not help.. ARE WE heading for a full scale recession, or am i off the mark?
  7. Don't mean to be the bearer of bad news, but i believe oneestate agent in COLERAINE has checked into Gransha.. But don't quote me..
  8. Just my 2 pence worth for information! Remind a few people that a 20% fall isn't the same as a 20% rise. House at £100K RISES TO £120K BUT THEN FALLS 20% TO £96K Interesting fact... AND IF THAT WAS 50% THEN 100-150K AND THEN DOWN 150K TO 75k
  9. THE WORST STREETS IN NORTHERN IRELAND??? Mount street in Coleraine? A mass of investers bought these, now even the birds can't fly up the street.. It would be worth taking anyone who doubts we are heading for a crash down to mount street, Coleraine. So much for sale. I compare it to las vegas and the red light district of amsterdam, you wouldn't believe it to you see it. Type it into propertynews. Any other streets as bad??
  10. Went round coleraine today, round the estate agents. My friend wants to sell a 3 bed detached bungalow, really good order, totally gutted the house at the start of year with the intention of selling in april. Anyhow, mcafee e/a is a total ghost town. So many properties i spent 20mins looking round. Only one phonecall, another person trying to sell. The estate agent basically talked the person out of putting it on market unless they were willing to take a big hit.. All the other agents were just as bad, but they at least tried to put a brave face on. After leaving mcafee's i felt a shiver down me spine..
  11. Cheers folks.. Will get my local e/a out and see what happens. One thing for sure no matter what price, its gotta go. lol
  12. Advice please urgently before i pull my hair out and possibly lose my shirt!! Have a 3 bed semi detached house. Bought in march, £15k below market value at time. (paid £185,000) Contracted in, but completed in End June. A develop has listed new ones for £180 turnkey and many resales for 190k odd. I WANT TO SELL What do i do? Willing to take a hit but will it sell at any price. I see things getting worse so i wanna jump ship. Was thinking £179,000 and will pay purchaser's stamp duty? How does it sound, or am i coming across as to desperate. One other thing developer isn't advertising prices, so not sure how many knows about them. And i am an invester, well was an invester, got rid of most of my stuff about 9 months ago? SUGGESTIONS PLEASE??
  13. Wasn't quite sure what 'bull' or 'bear' meant..
  14. Have you a link to the property? £5K discount, doesn't seem a lot in todaysmarket..
  15. Chattin to a few colleagues and friends, who seem so misled, or of course it could be me who is misled? They beleive in the theory sit tight, and ride out the storm. Prices will be ok in about two years time when interest rates drop...?? NO CHANCE I TELL THEM In my area 1 estate agency is about to close. 1 BIG OVER-RATED ESTATE AGENCY with red signs and soo many awards is 're-structuring' and laying of 50 employee's, almost half their staff.. LOL 2 large builders are closing sites completely, 200 laid of work. Another 10 or so builders due to close at end of week.. All this unemployment in construction means tradesmen will be cheaper, if anyone happens to be doing self build! (£30/day labour might not be so faraway) On tv the other day there was some mention our former chancellor had been 'fixing inflation'.. imagine that! Could spell interest rate rises?? So overall i think we headin for a disaster, but please dis-agree if you may! Also i know a friend with some cheap property for sale... lol
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