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House Price Crash Forum


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About poppyseedbagel

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  1. What the Revenue don't publicise is that there is a 1.5% fee for using a credit card.
  2. I am told by my property accounts colleague that this is allowed under international accounting standards - but not under UK GAAP - you are right that under UK GAAP, increases in values of any investment properties go through reserves. This is obviosly a mixed property trading/investment company - hard to know how any property investments increased in value in that period though...
  3. Not many boards up of any sort in Reigate/Redhill but our local Savills has a window full of 'SSTC' properties - except that they exchanged and completed months ago... Do they think we're stupid?
  4. Even the Daily Smug has hit hard times - that article is copyright The Independent, and I can remember reading it in the Indie about 2 months ago. Nice to read it again though.
  5. In the Times 14.10.08 - Knight Frank predict fall to 2003 prices http://business.timesonline.co.uk/tol/busi...icle4940149.ece Make up your minds guys!
  6. I was just chatting to someone who reckons Ireland's houseprices are down 40 - 50% already
  7. There are significant falls around us in East Surrey at all levels - 10% is quite common, and I have seen 17% before a house sold. There are also those who, having reduced from 550K to 450K, and still didn't sell now say 'open to offers'. Prices did go particularly mad in 2007 of course (thank you Savills in particular), but there are a lot of City workers round there, so I am expecting further drops.
  8. Most of the City types I know who work for quoted co's get half cash half shares in the form of a zero cost option with a 3 year vesting period for the shares, and hurdles to meet to avoid zero cost options over shares lapsing - keeps them with "skin in the game" as they say across the pond. I'm an accountant with a lot of clients earning between £800K & £9m, and I agree they were in this sort of position. Even one who worked for Bear Stearns was not working for free. As soon as they could they sold their shares.
  9. Didn't Gordon claim he'd been saying all along that there should be more regulation? Funny that Angela can't remember it...
  10. Unless it's really special, it'll pop back on the market in a short while (based on my experience in a commuter town in SE England) - particularly after the events, and woeful comments of the past few days. Once the mortgage application has to be made, the penny will drop. (Editted to say) a friend is trying to sell her mother's house in York - 3 bed semi for £150K. No takers - but she'll have to sell to pay care home fees, so she'll eventually have to lower the price.
  11. I got this graph from a Well-Known Private Client adviser, and I thought it worthy of publishing here House_prices_and_growth_since_1958.doc House_prices_and_growth_since_1958.doc
  12. Just been talking to an acquaintance with a London BTL - she now has to lind a new tenant, and the agent told her that rents are not going up "because people can't afford their mortgages so are letting their 'big' property and moving into somewhere smaller. I couldn't see that this would have anything other than a positive impact on her small flat's rents, but didn't feel like asking that. Anyway the story is that rents aren't going up in London despite what you read in the papers...
  13. A foavourite of mine in Reigate: 08 July 2008 04:16:53 * Status changed: from 'Under offer' to 'Available' [Found by poppyseedbagel] 12 June 2008 11:51:24 * Status changed: from 'Available' to 'Under offer' 05 June 2008 15:57:03 * Price changed: from '£875,000' to '£825,000' 09 April 2008 15:38:09 * Price changed: from '£899,500' to '£875,000' 15 February 2008 23:03:20 * Price changed: from '£950,000' to '£899,500' * Status found: Available 06 January 2008 00:00:00 * Price found: £950,000 [Found by newuser]
  14. That was really good - Mr PSB is now convinced! Ms Savills did herself no favours by not making any sense, so she gave the impression she really actually agreed with what the other two said, and was obfuscating. However the fact that Savills are saying there will be such big falls over such a short period, is hugely significant. Savills obviously have to show turnover for the SE, so round us they are cutting prices more than anyone, and showing this clearly on Rightmove in some cases.
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