KingGorilla
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Posts posted by KingGorilla
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I've been lurking on here for years and this site saved me from purchasing in the middle of 2007 just to get on the ladder. I've read all manner of posts since then, some predicting things which happened, some predicting things which never happened. However, I agree with @scottbeard in that everyones "circumstances" are different so the right time to buy will be different for people as well. Mrs KG and I have just bought a 1960's 3 bed detached bungalow in a secluded spot with some land with 25% deposit. The reasons being
1). Its near friends and family who live in the same village.
2). Its in a secluded plot with no neighbours to spy on our every move.
3). As its a bungalow we could knock out some internal walls and renovate it completely to how we wanted it.
4). There's enough land so in the future we can extend upwards/outwards if need be and be fairly self sufficient with vegetables etc.
5). Due to the above, theoretically we do not need to move again so are effectively out of the market.
6). Its well built and not a small new build on an estate.
We love our house and if i'd been sticking to the "we're not buying until prices drop 30% or more mantra" then we would have passed over this opportunity and still been living in our old pokey flat. However, if we'd have to obtained a 95-100% mortgage then I would have thought about it hard but our "circumstances" meant that we could do it. You do not want to be so engrained in 1 way of thinking that you become blinkered.
I'm open to abuse
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I live in GKs home town of Bury St Edmunds and they recently made redundancies in the brewery\yard side of the business.... a lot of the "redundant" positions are now filled by agency staff, who cost more, but dont have the overheads associated with full time staff. So i think this is just headline grabbing and a vast majority of these 3000 jobs will be contract/agency or part time/low paid. Personally, if i was one of the people recently made redundant by GK i'd be furious to see a headline like this....
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Nope. It just makes it a really badly designed database with inadequate security. There's no need to hold people's credit card information on any database (PCI DSS standards apply), and any personal data should be properly encrypted so that it can only be accessed using the keys which were designed to be used with it - any industry-standard database Oracle/IBM/SQL Server has this functionality. Anyone who designed a database without including these basic security features probably built a site open to SQL injection.
"Sheer volume" of cliches - should this 'security expert' be presenting traffic reports on the M25.
http://www.bestwestern.com/select * from tblAllClientData
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I think, and please correct me if this is a bit too tin foil hattish, that this is a further example of what is, actual and real socialism being implemented. They always said Gordon was a real socialist.
We already have the situation where it doesn't matter what you earn, or don't earn, as with the myriad of tax credits and benefits systems, from pikey single mums to graduates, they will all approximately get the same amount of money in their pockets.
I think it was 2 or 3 children and on the dole, and it's equivalent to a 20k job or something with all taxes, rents etc taken into account. Can't recall the exact numbers but it gave credance to the stories you hear of people being worse off through work etc.
Comrade Blair and Brown have allowed a massive expansion in flat building. Hackney looks like East Germany with a bit more colour to the buildings. Same principle, everyone is kept in their slave boxes near to where they work.
So, extending this new fuel rebate up into the 'middle classes' is drawing another echelon of society into tasting the nectar of dependance from the State.
Where will it end? I suppose when the taxes and systems are completely intertwined and economically wrecked so that all people require their books balancing by state handout of one sort or another, then we have complete socialism?? And everyone on about the same money except for those who are 'more equal.'
We're getting the Police state needed for socialism, the interference and surveillance, the posters asking citizens to report others for whatever crime it is, the allowing society to break down so more and more freedoms can be restricted etc.
Ok, ramble over, back to the day's work....
TFH
TFH
I like a good tin foil hat moment myself and i'm starting to come round to exactly the situation you are outlining....
Add in ID cards and also the current trend of "cloud" computing (where data is stored cheaply on a few large providers, i.e Amazon S3, rather than hosted by companies themselves) which makes it even easier for governments to access data on you then you start to see where could be heading...
KG
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Under 'board settings', I've de-selected auto correct DST an then ticked the box saying "daylight saving time is in effect".
Let's see if that works.
Edited to say: Nope, still 1 hour behind.
The db could be storing the UTC date rather than the current datetime...
or i could be talking rubbish
KG
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The guy who is buying this 3 bed semi in Newark said to me that even with a mortgage rate of 6.5% on a 90% LTV (value confirmed by valuer by the way) it is cheaper for him to buy than rent a similar property. He is also buying at 15% below the highs seen last year and his view is that he intends to live there for 10 years as it has all the space he needs so he doesn't care if prices drop a little further, it is the home he wants for a price he can afford!
I could understand his logic if he'd had a 50% LTV but not 90%. Say prices fall another 15% at best(i think it'll be closer to 50% but thats my opinion) he'd still effectively be in negative equity with a mortgage more than the house cost. Personally, I hate overpaying for anything let alone for a mortgage! I wonder if he'll think like that when his mortgage is more than his house value...
I'm renting until this whole saga unfolds more... I have no maintenance costs, can up and leave with short notice if need be and do not have to worry about being involved in property. I may be overpaying on what a mortgage would be costing me by about £50-100 but that's fine with me as I get flexibility and will also recoup this money when i eventually by in at a lower price.
KG
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My guess would be that it has already been repossessed and the bank has set in the price in line with EA advice and how much equity was left so they can get their money back.
In this case, I think you would be told to attend the auction.
I've made written offers as you suggest. I expect to be turned down but maybe get a call one day.
My Uncle did this on a property he used to own. He wanted to buy it back after a messy divorce meant he was forced to sell. He got the call 15 years later!! Admittedly, that's a long time to wait....
VMR.
Ahh ok, i had wondered if there was some colusion between the banks and EAs to set a price after repossesion. At least I now know
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I'd consider offering 70% of the latest price...
Tbh if I was serious about buying at the mo i'd go in at 50% of the latest price. I have no doubt it would be turned down but i'd leave my contact details and tell them to call me before it went to auction. It'd give them 2 months to think about it before taking chances at an auction....
This is only hypothetical tho as i'm keeping my cash safely tucked up and away from property for the foreseeable future.
KG
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Happy unlurking. Can you post the link, I only saw up to July 2008 catalogues on the site.
My Mrs has just been for a walk with the kids this morning and went past the house. The road is closed for the removal van to get down which is now parked outsite. Distress sale indeed.
VMR (your HPC reporter from the front line).
Thank you. I thought it was about time I actually started posting
Here is the link...
http://www87.vebra.com/cgi-win/vebra.cgi?d...amp;prop=146262
enjoy...
KG
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This is my 1st post despite lurking for a quite while
If you follow the link to cheffins brochure the 1st paragraph states
"For sale by public auction on 1st October 2008 (unless sold prior)"
so poss an element of distressed selling going on there..... It's about time these added some petrol to the flames of HPI.
KG
Easy Lending
in All about buying, selling and mortgages
Posted
I was expecting to get abuse for saying i'd bought a house.