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TheCountOfNowhere

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Everything posted by TheCountOfNowhere

  1. Well, 1) they must have spent all the money they made the last few years and 2) they've ramped prices. That's greed in my book. Corby is one of the poorest areas in the east midlands but the house prices dont reflect that. The agents who run their businesses professionally and havent spanked their cash on fast cars and suits from burtons should be able to weather the storm.
  2. This has really made me laugh: http://www.northantset.co.uk/news/Estate-a...o-be.3871896.jp "Raven and Steel, in Rockingham Road, is set to shut its doors. Owners say it has been a casualty of the credit crunch." "We got to a point where we weren't advertising and we owed more than was coming in." "We owed the Inland Revenue and have debts of up to £50,000." "Mr Seaby said: "It was about December when we thought 'hang on we could be in a bit of trouble here'."" "We thought January would be a better month but things got worse." ""However, as we have not been in this situation before we are not totally sure of the way forward, but will now be looking into whether anyone else wants to buy the business." - I almost pi**ed myself at that classic. "Of course we never wanted any of this to happen and I imagine my partner and I will now part ways." "Raven and Steel's demise comes after Rothwell-based Cream estate agents went under last summer. Camerons estate agents in Montagu Street, Kettering, also went into liquidation last year with debts of more than £230,000 and leaving many customers out of pocket." Im sure we'll see plenty more of this...maybe none so comical though.
  3. Another agent bites the dust: http://www.northantset.co.uk/news/Estate-a...o-be.3871896.jp "A CORBY estate agent on the verge of administration is blaming the market slowdown for its demise. Raven and Steel, in Rockingham Road, is set to shut its doors. Owners say it has been a casualty of the credit crunch. Director Richard Seaby, who opened the agency in 2003 with partner Shane Balmer, said the company had consulted lawyers about going into receivership. He said: "We had a meeting with shareholders on Monday and we will have to go into administration. "We got to a point where we weren't advertising and we owed more than was coming in. "We owed the Inland Revenue and have debts of up to £50,000."" Shouldn't they blame their own greed and the over-priced housing market rather than peoples ability to borrow massive sums of money pay over inflated prices for their problems ?
  4. When I read one of these (possible troll) posts the phrase "a fool and his money are soon parted" springs to mind. If a FTB is thinking of buying, even if they could, dont.
  5. Hi Reaper. Still only seeing small drops, of up to 5%. Doesnt look like any much is shifting though after they've dropped the price. Last week was quite significant though as I had 2 agents call me and say they have two people who are desperate ( as in respossesion desperate ) to sell and would take 10% below asking. Both places are on a £300K+. I viewed both but wasnt interested, its hard to commit to a purchase in a falling market Another thing I've noticed this week with property-bee are several houses status changing from Sold STC to Available in the £250K+ level. Ive seen 6 or 7 so far this week. Also, i've seen 2 or 3 developers knocking £35 to £50K off new builds !!!! Also, the Alsop residential auction has 6 places listed for Northampton, i've followed Allsops for 2 years now and ive only ever seen 2 at most. And this handy website: http://www.eigroup.co.uk/public/searchresults.asp?src=Search has 11 lots listed for Northampton, again, unprecedented. Ancedotally, A previously bullish friend of mine called me yesterday, he asked if I had bought a place yet, I said no, he said "well, the market has a long way to go before it bottoms out so I'd not bother for a while". This fella was adamant till 2 months ago houses were a good investment. The tide has truely turned.
  6. Property snake for Northamptonshire today scrapped onto 50 pages of reductions today, beating the Feb record of 48 !!!! http://www.propertysnake.co.uk/site/locati...dated_date_desc They only list up to 50 pages of reductions so this is about as high as it can ever get !!!! I had a sneaking suspicion that this might happen as we reached march and everyone realised that they couldnt see their house. You can hear the conversation now "No viewings, its not selling, house prices dropping, yes dear, we'll drop the price and catch the easter rush" Who runs property-snake ? Can they increase the list number from 50 to 100 so we can see what happens next month !!! The spring bounce is happening....yes, the house prices are bouncing down a BIG hill.
  7. Property snake for Northamptonshire today scrapped onto 50 pages of reductions, beating the Feb record of 48 !!!! http://www.propertysnake.co.uk/site/locati...dated_date_desc They only list up to 50 pages of reductions so this is about as high as it can ever get !!!! I had a sneaking suspicion that this might happen as we reached march and everyone realised that they couldnt see their house. Who runs property-snake ? Can they increase the list number from 50 to 100 so we can see what happens next month The spring bounce is happening....the house prices are bouncing down a BIG hill. EDIT: Breaking news: Developer realises price too high: http://www.rightmove.co.uk/viewdetails-166...39&tr_t=buy 13rd Mar 2008 * Price changed: from 'From £449,995' to 'From £399,995' * Brief Description changed: 5 bedroom Detached house from £449,995 £399,995 I bet you're glad you didnt buy one of them 6 months ago
  8. 10% then two years of 0% will be 22% in real terms including inflation, I'd be more than happy with that. More likely 10% over next 2 years, then 5 years of 0 %, i.e. 30-40% real term drops. I'm waiting for the 10% drop then looking at getting a distressed seller so that I reduce the impact of the 5 years of stagnation. "Its becoming like a hobby for me now (I'm sad)! " - Me too. I need to get my life back :-) The sooner I become the TheCountOfSomewhere, the better EDIT: here's a great example of what I have seen this week 3/4 times: Nice house in woottion: http://www.rightmove.co.uk/viewdetails-191...08&tr_t=buy Today, according to property bee: 12nd Mar 2008 * Status changed: from 'Under offer' to 'Available its in Wootton, good location, family home, backing onto fields. I spoke to the agent about it when it first came on, was priced to sell, he said it was a bargain, I pointed out it was less square footage than another house that was for sale on that estate for £299K, so was no bargain. It sold pretty quickly...has come back on pretty quickly too :-) EDIT: Another one today: http://www.rightmove.co.uk/viewdetails-160...=8&tr_t=buy 12nd Mar 2008 * Status changed: from 'Sold STC' to 'Available' Thats 5 ive seen this week so far...
  9. Dont forget to add on 4% RPI for inflation. That makes your prediction 14% in one year. 14% in on year is a crash in my book. When figures like that are reported would you buy or wait for more falls ? This is exactly the reason I'm not buying at the moment. I think we are at the start of drops from a massive bubble, i.e. Not far below the peak, which makes it psychologically impossible for me commit to buying somewhere. Everyone who is not on the ladder is starting to see this, i.e. no first time buyers or BTLs, making it difficult for people on the ladder to sell. The sheeple are talking about it now, and not much else.
  10. Taxi for (new) labour. Next crap government please... Vote for the HPC party. Anyone want to form an online political party ? I'd quite happily loose my depsoit money, though if we came to power I'd expect become The Count Of Somewhere...London would do.
  11. No crash yet, no, but I get the feeling there is a certain momentum behind the price drops and it will keep going. for NN4, on property snake we have 15 pages of reductions ( 5 pages of recent changes, thats 50 houses): http://www.propertysnake.co.uk/site/postco...dated_date_desc Ive been lookinf at wooton, lots of drops now, 2 expensive places back on the market and an agent calling me to tell me someone selling over 300K is desperate ( reposession desperate ) and will accept 10% off immediately. I said I had no confidence in the market so was going to wait
  12. I graduated in 1991 and it was a struggle to get a job that year. In 1990 graduates from my university/course were getting 3/4 job offers. It was a couple of years again till it picked up.
  13. Just had a look on property snake for oxfordshire: http://www.propertysnake.co.uk/site/locati...dated_date_desc there's 200 price drops in the last week for you. Nowhere is immune from the great HPC. If it shot up, it will shoot down.
  14. Might be worth going to view just so you can see what a crazy fool looks like.
  15. Hi Crabb, great post. Welcome to HPC. I think you might well have found your spirtual home :-) You've hit the nail on the head with your post. If a couple who earn £85K between them cant afford a nice place to live then something is well out of kilter. I'm a high earner myself and until recently it was quite depressing looking at how much a nice home would cost me. I dont want to have 25 years of a crippling debt just to get a roof over my head. :-)
  16. One word....not a f**king hope in hell will the sell for those prices....sorry, got carried away I wonder what idiot paid 200K for a flat in Northampton ? You can just about get a four bed detatched with a double garage for that now :-)
  17. Just finished reading that thread. Quite entertaining. The best thing about it is that they all know, or agree, the housing market is falling !!! I've viewed lots of houses over the last 6 months and i've come across a couple of people who are selling to emigrate. Those propertys were all on at top whack and they are still on the market!!! I guess they were trying to maximise their profit before jumping ship. One is now vacant and has been for several months, its dropped 25K so far...I rekon they will take a seriously low offer to get shot of it. When I view I make a point of asking why they are selling, as soon as they say, "we're emigrating", I think to myself "not off my f**king back you're not".
  18. They've run out of houses to burn !!! Anyone that's bought one of these recently will have been burnt too: http://www.rightmove.co.uk/viewdetails-196...43&tr_t=buy 10th Mar 2008 * Price changed: from '£289,950' to '£260,000' !!!! TIMBER !!!!
  19. propertysnake website for northamptonshire shot up to 35 pages of reductions today. It was down as 14 pages last week.
  20. Mr Bush, comes to power (2001)...oil below $40 a barrel. Mr Bush...tenure as most powerful man in the world, ends (2008)...oil above $104 a barrel. Mr Bush...owns an oil well.... Am I just cynical or did this tosser create the OPI ( Oil Price Increase ) just to make more money out of his oil well ? The OPI is now much bigger/worse then the HPI !!!! It cost me 5 quid tonight to drive to my friends out 16 miles away !!!! I blame the royal family, she started this wealthy, land ownership, money, wars, big eared, stupid, *******, children thing. Next poll, to follow shortly: Is??? Harry Windor ( war hero ) the son of big ear (son of war mongering family) charlie Windsor or That ginger army bloke off the telly that looks like his dad Too much wine...need drugs....
  21. Allsop propertys auction catalogue out today: http://www.allsop.co.uk/ 6 places in Northampton up for auction. There's usually 1 or 2. Ive been monitoring this auction website for the last 2 years so this really is a jump !!! One in Northampton house: Guide Price £60,000+ Northampton 212 Northampton House, Wellington Street, Northamptonshire NN1 3NA I think that could be the first on to go for <£50k.
  22. true, but 30% say no!!!! I'd be interested in some posts from someone who voted no to see why they think it's noy started.
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