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House Price Crash Forum


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Everything posted by bigj

  1. Mobile version is effectively not useable because of this. There is previous reply and next buttons with what looks like plenty of space for first and last. Please please address this problem. It seems a recent 'upgrade' now defaults threads to first page (or perhaps first unread). Pretty sure it used to be last page, which wasn't so bad. Please just try using mobile version for a minute and the deficiency becomes obvious very quickly. To the degree that I can't believe it would be released like this.
  2. Sigh. You've ignored what I wrote - go back and see if you can spot how many assumptions you've made. I'll go back to lurking - it's less frustrating and more ammusing being a spectator.
  3. See my post above - at the moment there are very few people that can proceed even when prices are lowered. It's not usually the price that is a sticking point. We are asking -30% of peak. We could drop it further - hey if we asked £0 perhaps we'd sell it But sellers - even realistic ones - have to balance probabilites of further falls versus chance of improving market liquidity versus chance of finding that one available buyer etc etc. (fact is NO ONE right now knows with 100% certainty what market value is.) To Elizabeth who said "a lot of people have become very hard nosed about their dead parents assets". I'd say don't be too quick to judge - my wife watched her parents work damn hard their whole lives for themselves and for her - and the net accumulation of that is left usually in the house. It's actually quite sad that all that is left is a pile of bricks. But that is it - what they worked for - why wouldn't my wife want to at least see a fair* price for it? *that's the only thing worth arguing about here as far as I can see. I'm a bear - and happy to see prices correct themselves - but I'd urge people to actually put themselves in some peoples position before rushing to judgment.
  4. Wife's mother sadly died last year - we have inherited her retirement flat. It's up for very good price round here - priced to sell. Got interest from several parties but no one procedable....! There are restrictions (age) on who can live there. We are soon due to pay council tax. Also service charge. Just put on to rent since any contribution is welcome - didn't want to, since in this market most rentors will want a long term agreement; and/or we wouldn't be happy kicking out an oap down the line to sell the flat. We are being gouged to rent. Icing on cake? We have been trying to sell our *own* house to move for about a year. So now have 2 props on market. Got to be philisophical though - we are looking to trade up, so on the whole the price drops are welcome. Just we have very practical reasons for wanting to move, and waiting is getting frustrating.
  5. you should go to the opticians and get your eyes checked
  6. Yes Yes - for me this sums up the problem. Bankers, Large PPF companies etc - they're so close to the source it is easy to skim a few million here a few million there. Parasites. It works the same at all levels. I worked for a video games developer a few years back -- the credits in the game manual were effectively listed in earnings =>pecking order. It went something like publisher ceo, legal, accounts, advertising followed at the end by programmers and artists. This after the team worked solid for two years- to be trumped by the sodding accountant. But this has always been the way - it is what unions and collective bartering is for...
  7. so is NR now a more safe or less safe haven for STR fund? ?
  8. This is an interesting thread. Here is my situation: Want to trade up house for more space. Put house on market May time. Was reading this forum so was aware of situation. But now events have overtaken us. Had half-dozen viewings in first fortnight, none since. Just dropped asking price 10%. Persuaded wife that if we get offer we should rent. (Still not seen perfect house - and why would we accept less than perfect since it is depreciating?) Thing is, we aren't desperate to move - have approx 40% LTV (peak) So, while I am prepared to lower asking price 10-15%, I probably won't go lower until I see the market respond likewise. Too much exposure. Would probably just sit out and wait the 3 - 5 years for it all to resolve. It's further complicated by the fact that we've got an agreed 5.99% 5 year fixed deal ready to start 1st Sept. If we get a sale we'd need to cancel that and go onto SVR to avoid the early exit fee of the fixed rate deal.... but of course sale might fall through; then in tough situation (having choice) of being exposed to SVR versus biting bullet and *really* going for a sale. Anyway, the purpose of my post was to give some insight into how a current seller (me) is thinking.
  9. They earn't the *same in real terms*. i,e, they *have* been getting pay rises in line with inflation, They question is, are they striking now because real inflation is suddenly much higher, or because they are strongly unionised and as greedy as their paymasters.
  10. Sure - my point was addressing the "no increase since 1992" - which actual should read "earning exactly that same since 1992". i.e. it's a meaningless statement. If the argument is that cost of living is increasing - then 'they' should make that argument. If they have, then I've not heard it. What I don't know is how this came into being. Did Shell outsource this part of their operation? Is this a shell (pun) company? Do the drivers operate other contracts for other producers? Perhaps, for all intent and purposes they might as well be working for Shell.
  11. I kept hearing/reading how their wages have not increased in real terms since 1992. This *sounds* like a terrible thing - but it actually means that they have kept pace with inflation. Let's ignore question of how inflation is measured. My point is that their salaries have probably stayed in line with most everyones.They are not being offered a below inflation increase. It's really a meaningless headline statement. If you listen to their actual argument, it sounds like they want a greater share of shell's increasing profit. i.e. I'm not sure the pressure for increased pay is inflationary so much as the drivers see Shell reaping huge profits and want a piece of the action. btw. In another thread someone pointed out that the £35K+figure was for 60hrs; basic is nearer mid 20K.
  12. bigj

    Desperate Eas

    My partner got a phone call today from one local EA - they said they were having a one month only special reduction on their properties (shurly their customers properties?) Are they calling the bottom...(!?) What next - buy one get one free ?
  13. Another question! (you can tell I'm green can't you) Is there any reason not to use the same EA to sell our house? Thought I'd try and get a deal - since it seems to me they should go for this since they'd get the double payday - and of course from our pov be more motivated to sell ours! Or have I missed a good reason why this would be a real bad idea? Any EAs read this want to comment on whether they like or hate this scenario?
  14. Thanks to those that offered their thoughts - much appreciated. Need to discuss with wife and and decide what a reasonable offer would be in falling market... The people living there are nice, get impression this is an equity/retirement withdrawal for them - on one hand it feels harsh to offer too much under, on the other hand if I do and then lose it to a higher bidder then I'd say fair play and be happy for them... strange to be dealing with such large sums of money - albeit notional I guess. Must feel like monopoly money after a while to those 'investors' with large property portfolios...
  15. Hello, been reading forums for the last few weeks - certainly all very interesting... My wife and I have been looking to move since the new year. Haven't found anywhere right yet, but with what I've read I'm thinking we should just wait anyway. Since our kids are growing up (getting bigger!) we were looking to trade up 200K to 300K (3 bed semi to 4 bed detached in our area.) Current mortgage only 80K. I'd persuaded my wife that we should wait a few months; but we have still been looking at some properties - just in case something right came up. This last day or so we viewed a nice modest house on at around 240K - it's still 3 bed semi, but it's ex-council, more space overall, has large garden and scope for extending. So, do make this modest jump now - after all in principal were not taking on that much more debt. We can cover the new mortgage quite easily - and would probably fix for 5 years to be sure. (Of course I understand all this is dependent on finding a buyer for our current house!) Not sure we can wait 3 years+ for the market to bottom out... could extend our current property, but it would still be cramped and then wouldn't be much if any cheaper than buying this new one we've seen. Much is said about how FTB shouldn't buy now - how BTL are scr*wed - about STR - etc etc - but I've not read much here about families already on ladder that have practical reasons for moving. I'd welcome any thoughts.
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