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House Price Crash Forum


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About elaine16

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    HPC Newbie
  1. I know there`s a buy or rent thread but this question is a bit different. Have made an offer for a part share in a 2 bed bungalow. We StrED around a year ago due to health reasons and intended to settle in rented accommodation as we are both in late 50s. However the flat we are renting is not suitable for various reasons and the bungalow we have applied is perfect for our needs. The original asking price for these properties was 140k in 2006. However looking on the Land Registry they only sold for 99,950 ie quarter share £ 24,375 . We have had an offer accepted of 29.5k for quarter share which will be paid cash. Just getting last minute cold feet as to whether we should renegotiate price at this stage <just waiting for contract and lease > This price seems high compared to original and any advice would be welcome. The bungalows are 2 bed built 2 years ago and in a reasonable area. Over 55`s only.
  2. Good point, 80k would be great, the way things are going would not be surprised if prices hit below 100k in next year. Heres hoping !!
  3. A definite downward trend, with drops of 5k-10k on lower priced property. ie original price 150k -160k. Hope this continues as I STR last year, not because of HPC.......... just wanted to take time choosing right property. Hope to buy again eventually for cash, but have no idea of best time. Just keep looking and watching prices fall week by week.
  4. Anyone having problems with Rightmove this morning. Search just brings up an error page each time. Does anyone know when the PropertyBee 2.00 will be available for current users on original system?
  5. I have around 100k in a 3 year term deposit with Lloyds TSB paying 6.25% interest which I receive monthly. When I started this term deposit last May was not goin to open a fixed term account as this was a deposit on any property I may want to buy at any time. However was persuaded to open this account with the understanding that if I wanted the cash to buy a property could withdraw at any time. With the 35k compensation limit < which I was not aware of at that time > I would feel a lot easier if it was in different accounts. Any advice as to how I can get around this ...... ie has anyone managed to close a term account before the due date or am I 100% stuck with it til the end, presuming I do not buy a house prior to that .
  6. Wait for a few months at least, especially as you are buying a flat which are expected to show a marked drop in price.
  7. In reply to Teddybear, the house was in Shipley West Yorkshire and we are looking in this general area, including Aire Wharfe ie Otley, Ilkley
  8. Just had an email from a local estate agent with the heading " Spring Sale " Book Immediate Viewing. Must be getting desperate. Have been looking to buy for some months now after selling home in July 2007 at asking pricing .Due to relocation we are renting short term, but not in a rush. Watching prices dropping daily on Property Bee in my area. My sister put her house on the market a month after ours in August 2007 and despite two reductions still not sold.
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