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House Price Crash Forum


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About Dada

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  1. Ohh wait a minute who am I kidding. Property only raises and goes up in value anything else is a dellusion and my inability to invest for the long term. These news papers are the same ones who ran specials with headlines like "How I dropped out of school and made millions by refurbishing investment properties" etc. etc. Look at Halifax still caliming that only the inflation has gone down by a marginal amount but prices are still higher as compared to ...... Absolutely tosh and irresponsible analysis As they say "You cannot hide an elephant or the truth with just a hand kerchief" Dada
  2. 1st Email ******************************************************************************** Dear Investor As you will no doubt be aware, the Chancellor announced changes to Capital Gains Tax (CGT) in the October 2007 Pre Budget Report, confirming there will be a single 18% rate and cease taper relief from 5th April 2008. Since then, in January 2008, he announced there will be a 10% rate on gains of up to £1m to help entrepreneurs. We are now the only major Central London Auction House with an auction this financial year that is still open for entries. It will be held on 19th March and ideally we require confirmation of entries by close of business Monday 18th February. If you are thinking of disposing of a property before these changes come into effect we would be delighted to hear from you. Please contact... ******************************************************************************** 2nd Email ******************************************************************************** Dear Investor, Despite the Bank of England's downbeat assessment of the British economy issued yesterday, and the media talking down the sector, Day 1 got off to a fantastic start. In front of one of the largest rooms ever, with over 500 people at any one time, and an estimated 1,000 people on the day, the Residential Auction team knocked down over £44m of property, with a success rate of 86%. There were both regular investors in the room, as well as first time buyers. Although there has clearly been a market correction, a number of bidders were surprised by some extremely keen prices being paid. Notable lots included: ******************************************************************************** So there is/has/was/onging/maybe/ a market correction. But But I thought according to Kristy Property only Went up and up and up and up and up ............ Me thinks that April is going to be interesting. Dada
  3. Hi, Thanks for the comments. I have now decided to hang in there till June and see what gives. I might look at Hitchin or Letchworth ( Out of budget right now but with some much due correction who knows) Dada
  4. Wait a minute ..................... So for a gain of 1000 at .4% the actual price was 250000.00 So at the begining of Dec the house is selling for that So the price of the house was 250000.00 So it must have been 251762.33 at the begining of Nov Which fell by .7% to give Dec starting value of 250000.00 Now the final selling price after the humongous gain of .4% is 251000.00 So overall decrease(can I say decrease or will the express people sue me for misleading house owners) loss of 726.33 From this it is clear that the Editors got their degree from McDonalds ( A levels) So just in case the good folks at the paper are reading this. House Price on 1st of Nov == 251762.33 Now a .7% decrease in Nov Means == -1762.33 House Price on 1st of Dec == 250000.00 Now a .4% increase means == +1000.00 --------------- Total loss == -762.33.00 So net result "HOUSE PRICES ARE INCREASING THE DOOMSAYERS ARE ALL WRONG. CALL ASSETZ NOW" Dada Fell by 0.7% last month ( where were the headlines then HOUSE PRICES FALL BY
  5. Hi, Unfortunately while I agree with you some family considerations are making lean towards to this. However my time frame is a lot flexible. I just wanted to know what the area was like from any HPC'ers out here. Dada
  6. Hi, ITV has a new program called Repossesion Repossesion Repossesion By Jeff Randall Dada Repossession Program on ITV
  7. Hi, FTB looking to buy in Stevenage looking to share experiences from other HPC members. Dada
  8. Update Muppets came back and said their Bank (Agency) is not expecting anything less then 210K So I told them "forged aboudit" Dada
  9. Hi, Update. Taking the advice given to me 1) I went along and played the almost deer in the head lights bit. 2) EA tried telling me that their FA can get me a better Deal and said Barclays was big and bad and ugly 3) They positively insisted that I had to come in to a meeting. Sending the Barclays pre-approved letter was not enough. BTW the EA kept telling me that the offer of 185K on a property listed at 221,995 was extremely low. I told him "Wait a few weeks and I will withdraw my offer and re-submit one for 175K" He tried telling that the BOE will cut interests etc. etc. (Little does he know the Missus is a Economics Guru in London) So all in all a wasted hour. They were extremely disappointed that I declined their offer for a mortgage but they have now put forward the Bid to the owner. (Agency) Dada
  10. Over the weekend I was listening to Virgin Radio on a drive from North London into Corydon. It seems that there was at an average 2 ads per hour for some organisation called "Property Investment xxxxxxx" who promised that they had amassed a portfolio of nearly 130Million for their existing customers and would like to do the same to you. They even claimed that some investors made profits in the range of 100,000GBP in Equity on their portfolio. (Yes they used the word equity as if it were cash) They claimed that they had secrets that they only knew and nobody else was privy to. I was half expectnig to hear an evil chuckle a la thriller style and claims of alchemy and touch stones. They did stop short of that Nearly changed stations but Hey I like the music they play. Me thinks they are getting desperate for victims ahem I mean sorry customers ahem investors. So I have decided to give up all my wordly possessions and subject myself to their mindless drivel I mean sales pitch. Maybe I will see maxdiver yawning in the corner. And if they do reveal to me the secret of who killed Kennedy ( this must be easy compared to how to make money on property ) I am not sharing. Dada
  11. Hi, Following the advise received here I found out the following. 1) Got the landregistry documents ( Interesting read 2003 the house was sold for 83K from the council ) (They want 221,995) 2) The current bank is not really a bank but an asset management company ( Maybe they bought the debt from the bank) 3) There seems to be a restriction since it is bordering a conversation area (This might change since I saw a public notice from the council ) I have researched and found the contact information for the company that has trusted this house to the local EA. I will be calling them on Monday and asking them 1) Do they need potential buyers to get a Mortgage from the EA 2) Is the letter fro Barclays good enough 3) Can I make an offer to them directly. Thanks all for taking the time to respond. Just to clarify the alarm bells started going off when the EA said "No we do not care if you have a pre-approved loan we still need you to come talk to us". Had he said "Fine bring the letter and alls well " It would have been different. Dada
  12. Hi, Thanks for that I thought so too. But EA is insiting that I need to visit their financial consultant. ( I like the title) Troll1 : What do you do for a living? Troll2: I am a financial consultant who adivses people that they can afford a house that is 8.5x their earnings Troll1: Wow House owner: But you told me that the value of my assetz will keep going up? Troll1: Yes he did say the value of "My assetz will keep going up" not yours :-) I am going to take your advice and just send in a copy of the letter. Let us see how they react. I will update this thread with more information. Dada.
  13. Hi, Recently a house in Stevenage came up for sale. During the viewing we were told that the house was being repossessed. Due to the various reasons and the state of the house we made a 185K offer on a house that was listed at 225K. I think even that offer might be high. However the EA has come back to tell us that to even consider our offer they need to get us to come in for a finance check. Is this true? He is claiming that this is the case for any repossessed property. I do not mind going in. I also have a pre-approved Mortgage offer from Barclays (That I took recently to check and see what I could qualify for.) There is a letter from them stating what I can afford. (325K), should not this be enough? When I offered the EA to bring this letter in he said that it does not matter. Me thinks he is pulling a fast one. Anyone one here who can advise me on what gives? Dada
  14. Heavy Profit booking in Gold and Gilts There seems to be a serious move towards profit booking. 881.00 as compared to yerstadays London AM fix of 904.75 a Drop in 2.62% Gold might see modest falls. Also Gold Futures seem to be a bit more realistic now. Today is a red letter day. Now with Bush Begging OPEC to increase production which will drive Oil prices down which will reduce pressure on Gold and Gilts. FTSE will take a tanking today. Dada
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