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House Price Crash Forum

Now or never

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Everything posted by Now or never

  1. It'll be a positive 0% - 0.9%, followed by negatives of between 3% to 5% everymonth for a decade!
  2. When I want to view a property that I have my eye on I always phone the LA listing and ask if there are any available properties within a certain radius because of job/school/friends, making sure the property I want to see is just outside of that radius as the LA is guaranteed to offer that property, which puts you in a great bartering positioning as the LA believes they are trying to sell you something you dont want. I managed to get 15% of my current rental and have never had less than a 10% reduction!! Explain that you must have something within that radius but you are willing to view and make comprimises if you like the look of the place. After viewing tell them the only compromise is a nice big chunk off the rent!!
  3. Whohoo - that's it; confirmed 'normailty' from an an auctioneer, i feel now is the time to convert.
  4. Not true - I know somebody who owes nothing and contributes nothing but will be receiving at least £22,667.11 next year and every year for at least 16 years!
  5. Simple answer - buyers. Simple problem - Over priced sh it by hopeful sellers. I know somebody currently selling house for £165K and has been trying for over a year. Only dropped £5K off orginal asking price since listing. There's no way the house is worth that much, but after refurb, that's how much it's worth to them when they consider the purchased price, refurb costs and their valuable property development time. This is also reinforced by the fact that they cannot afford to sell lower than that price, because they will be in real negative equity - not paper negative equity! So what do they do? They hope for a buyer and continue to pay the mortgage, because this is the only way they're not losing. What makes it even more laughable is the fact that a house on the same road, pretty much same house was listed two moths ago for £145K; and guess what? Still not sold! This highlights that these unrealistic sellers are not really out to sell; they see what's coming and don't want to lose what they thought they'd gained.
  6. I just have to ask one question...Who are these people wanting to take a punt on rental property? What an incredibly stupid broken nation Britain is. The answer to your question:- Cash rich people who think that because house prices only ever go up, eventually they will regain their capital and then onwards to a profit. And as their capital investment is subsidised by rent they're never really paying out of their pocket. I have a collegue in work who's 50 years old and about to receive a pension payout now as a lump sum rather than a higher pension at retirement, he plans to BTL with the whole lot and believes he will make money at the end of the day regardless. He is willing to take his chances with future drops but i don't think he fully understands how much they're going to fall and for how long they will take to rise again. When I suggested banking the money for a few more months and save some money on falling house prices he responded "They won't go down much more, they can't". Says it all really!
  7. I remember a radio interview back in 2003 (can't remember who with) where it was suggested that these new builds are only suitable for couples and if building these dwelling types continued there would have to be a point where they would have to be converted in to maisonettes by reposition internal walls and installing internal staircases; maybe that could be a solution; local conuncils could get involved with all those half built apartment blocks now and actually make them suitable for social tenants/families. Another thing that hasn't been mentioned, running costs have to be kept to a minimum and achieve a high SAP rating to be accepted by local authorites for obvious reasons; how do you achieve this when all the apartments are fitted with electric panel heaters and water heaters probably running on an on peak tariff!
  8. I stand corrected on her quote; however, I interpreted the "think of a number" as an asking price otherwise you might as well just 'think of a percentage' aswell. My point to the scottish troll was that she may be buying, but it won't be at today's asking prices. Can't be arseb to get involve with where the actual bottom may, could or will be; just that we're not there yet!
  9. Was told today that there's no pay rise, not that I'm bothered, but was good to see everbody's face when we told, it's as if the recession has become real all of a sudden. Alot of people re going to get a freeze, a cut or lose their job completely; only one direction for house prices!
  10. That's right, and as she said when she was aked how much she would offer considering falls of 20% already; "another 20% less than the asking" - that's where your bottom is; she's good eh?
  11. Ignore the troll, anyone with half a brain cell could see that MSW was excellent with every response, the way she delivered and justifications/explanations provided; she was outstanding. How she managed to keep her cool, if she was a VI is beyond me - I know I couldn't.
  12. Deny any knowledge of the paperwork you signed and demand an eviction notice, he's sold the house now, that's all he needed to get the sell through which has happened so he doesn't care any more. This becomes the new owners problem, let them wait! The LL should have given you the eviction notice from the outset instead of leaving you in the sh;t!
  13. The only time I would only ask for a reduction in rent is after I've verbally agreed a cheaper rent for another property somewhere else; this leaves you in an ideal position to justify a reduction or fault your current LL's property to get a reduction without the concern of being turfed out. When viewing properties as a backup, tell the LA/LL it's a nice property but you're getting more for less at your current property and that you're only viewing this property because of it's location (work, school, etc.); give them time and they will come back if there's no take up quickly, and believe me, the chances are high as the number of good/able tenants available out there are reducing dramatically at the moment. You'll end up playing both LLs to get the best possible deal. Just make sure you never leave yourself exposed to either of them and never worrying about letting them down after verbally agreeing a rent; just dont sign or make any payments obvioulsy.
  14. Yes, I agree, being sensible about bringing kids into the world is one thing, but as your OP stated; these people chose to spend money on themselves, nothing to do with being in bad situation to do so. As i said, these type of people are probably not in a position to have kids regardless of their finances, it's just easier to say it's a money thing rather than we can't have kids, or we're trying but no luck, or I'm too ugly to get a partner to go halves on one with.
  15. Anybody who claims they would never have kids because of financial reasons are probably in a position not to have kids anyway, nothing to do with finances!
  16. To come back within 10 minutes with higher offers (offers - not a higher offer) and yours being the lowest (assumed); something doesn't seem right.
  17. Agree, though it did look promising when he started the conversation with... "the housing market has crashed"; it's the first time i've looked up from the laptop to watch the same thinig as the missus!
  18. 91% is a high percentage, not to be confused with a lot of mortgage approvals.
  19. I've noticed this too; been keeping my eye on somebody's property who I know who's house has been on the market now for 18 months, price reduced by on £5K over that period. Today, property added on rightmove for £20K less on the same street; pretty much same standard. The market is fukked, but if you know Fibley you'll be fine!
  20. Hey, it's ginger pubes; back on the case with his remarkable analysis of the whole situaution. Why is it all your 'mates' and 'people you work with' are the only people buying right now? Me thinks Sibley is tellng Fibley's! Three words Sibers - you're a deluded mistake. Oops, that's four words; your not the only one getting all the numbers wrong! Love you Sibles, mwaaaah
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