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House Price Crash Forum

hostman

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Posts posted by hostman

  1. Hello,

    Bought a house last year, 1988 two bed semi. It was in good nick, double glazing fitted in 2001, conservatory etc. Minor improvements made by us, mainly decorative, but nothing major.

    Based on previous sold prices, we bought at -15% from peak and I believe we were probably ahead of the curve at the time, by around -5%.

    We have now sold the same house (exchanged this week, completion next week), less than a year on for slightly more than we paid. It now works out at -12.5% from peak. Believe this if you will, but the house was on the market less than a day before we had a viewing. A 2nd viewing by the same person was conducted the next day, an offer was made that afternoon, the offer was 1.5% below asking price. Not being greedy and well aware of the market conditions, we got the offer increased by £500 and accepted that day. Including us, it's a three buyer chain.

    Sold due to job relocation, buying a nice big house up north for a fiver (OK not a fiver, but significantly less than the same size in the south, 90k less in fact).

    So, this fits in well with what we're hearing regarding the direction of house prices this year. But it has to be priced accordingly and there is a danger of any recovery stalling when people, as usual with houses, become too greedy.

    Personally, I am amazed there is any up tick, with the scale of unemployment.

  2. I see no problem being asked for ID when buying booze. From the shops point of view, if they get caught selling to youngsters under age they face large fines. I also believe the shop assistant serving the customer is responsible and can be fined.

  3. Interestingly I read a sci-fi book last year which uses this idea. The citizens of the space stations could vote on everything, votes happened many 100's of times a day.

    Their civilisation was almost wiped out, as they voted against arming their police force to counter a threat (turned out to be a sentient computer virus).

  4. If there's no company pension scheme yet on offer for you, try and make the most of the ISA limit. Interest rates aren't going to stay as low as they now are for too long.

    However, once you have completed your studies and entered your chosen career then that is the time to start a pension. Sooner rather than later, even with uncertainty in the system, as you could always have it all in cash for now and then opt for riskier investments once the global economy has stabilised in a handful of years.

    I am lucky and my company contributes monthly to my pension, I can opt to make further contributions.

  5. The criticism of our military does baffle me some times.

    It IS a fantastic career to be involved with but of course is not right for everyone, just like any other job. If you join the military, you know you may possibly end up in a war. Their not saying "Join the army, its great, the world is such a safe place you'll never need to do anything dangerous".

  6. HBOS will not go bust.

    IF they did, the debt will be sold on to another lender in a fire sale and he will continue with the current agreement.

    IF this happens and in his terms with the lender they are allowed to increase the rate at any time (i.e. variable rate, as opposed to fixed) its possible they may increase the rate, to a level he can't afford, resulting in a repossession.

    Lots of IF's - I'd not worry about it at this stage.

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