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House Price Crash Forum

rettah

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Everything posted by rettah

  1. Here's one in sunny stevenage: http://www.rightmove.co.uk/viewdetails-173...=2&tr_t=buy A real lovely I think you'll agree........
  2. I grew up in Stotfold which was a village on the herts/beds border and is now more of a small town. There was an old psychiatric hospital up the road called fairfield which as kids we use to call the loony bin. Over the last 2 years this has been redeveloped with the main hospital building being converted into flats (executive apartments ) and hundreds of houses being built on the grounds. The development has been done quite well but at the end of the day it is just a big housing estate with few amenities. From time to time I check on the prices and was amazed to see the below properties for sale at these asking prices: This one is on sale for £730,000 http://www.rightmove.co.uk/viewdetails-204...=1&tr_t=buy http://www.rightmove.co.uk/viewdetails-173...=1&tr_t=buy Which is amazing as the highest selling price for a place in that road was £558,000 in sept 07 (Nethouseprices) Another property is on the market for £659.995 http://www.rightmove.co.uk/viewdetails-204...=1&tr_t=buy This property sold for £570,000 in june 07 - scroll down on the below link: http://www.nethouseprices.com/index.php?co...&incode=4FW How these people think they are going to get this amount is beyond me especially as you can still buy a brand new similar 5 bed house for £589,996 http://www.rightmove.co.uk/viewdetails-173...=1&tr_t=buy So it seems to me that things have come full circle and once again the lunatics have taken over the asylum!
  3. Max lending criteria: For self cert: For sub prime: Over and out......
  4. Having a quick look through those products the cheapest rate (once the fees are added) is around 8%!!
  5. It's not difficult, they tell you how much it's going to cost a year - It's called the APR. All of the mortgages on the link have an APR of 5.9% or above.
  6. Why didn't they see it coming? Because they were blinded by greed.
  7. anyone know how much seasoning has been added to this figure? I'm guessing the actual figure is -1% or more.
  8. What's this all about then: That's over 10% excluded!?
  9. There is another huge problem with rental income that the BTL brigade seem to forget (Or ignor) and that's the difference between the gross rent and the net rent that you actually see in your pocket once the letting agent has taken their slice. As an example a friend of mine lets a place for £650 but actually only gets £575 after agents fees. The whole thing is bust.
  10. http://www.guardian.co.uk/money/2008/mar/2...investmentfunds
  11. What's this stock market boom people seem to think we've had. The performance over the last 10 years has been apalling and the FTSE is currently lower than in 1998. Stock values are incredibly cheap at the moment.
  12. Except that the stock market is lower now than it was 10 years ago.........
  13. This is another case of "it's my pension". Unfortunately the EA's are saying the price is going up. They have also MEW'd it to get the deposit on the place they now live in - Which is also still "going up in value". In terms of pensions I realy can't understand why anyone especially a higher rate tax payer wouldn't have a pension as you are effectively getting 20-40% of free money.
  14. Was talking to a friend of mine who owns a place in the midlands that he lets out. He told me that he was getting £650 a month for it........but only sees £575 after the agents fees. I guess when looking at the foolishness of some BTL "investments" taking the headline letting income is not sufficient and the likely returns are somewhat less than this. Oh and buy the way his mortgage payments are £750 a month! But he's had it valued recently and the price is going up so it's OK.
  15. Steve Parish the old motorbike rider has got (or at least had) PEN1S
  16. Surely this is the banks pricing in a 10% fall in prices and just protecting their equity stake?
  17. Sep-07 £184,723 Oct-07 £186,044 Nov-07 £184,099 Dec-07 £182,080 Jan-08 £180,473 Feb-08 £179,358 So prices are down 3.6% from their peak in Oct-07. Nice!
  18. Or maybe house prices should half instead..........
  19. "A well-placed property source has told the Evening Times one investor bought 40 flats at Kingston Quay, pocketing up to £200,000 - £5000 cashback from every property - from builders Barratt. It's claimed the investor has since failed to pay a penny to factors or mortgage lenders." Really? 40 flats? What size loss is this "wise investor" sitting on?!
  20. Looks like the going rate for the flats in that Thamesmead block is £170k - £180k although there are still a few listed at over £250k and a 2 bed penthouse at £360k!!!! To live on what looks like a council estate.
  21. Crikey. Looks like even the guy buying the place for £75,000 paid well over the odds as you can get a 4 bed flat for £69,000!!
  22. Reading the 4homes website on this property is a great laugh. I love this closing paragraph: "The boys were pushed over budget by £40,000, which of course is no small sum of money. Fortunately for them, the only thing rising faster than their budget is the local housing market. The estate agents loved this home and valued it at a top price of £575,000, but this didn't stop these shrewd businessmen rejecting a bid at this upper valuation. With prices in Greenwich set to maintain their recent explosion, there's no reason why Darryl and Peter should rush to sell" Shrewd indeed. LOL!!!
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