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colonel faulkner

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Everything posted by colonel faulkner

  1. I've often wondered if this is true or not. Surely a lack of money will affect all houses in roughly the same way? I hope you're right, as I'm completing on a 6-bed Georgian country house, 2.5 acres of land & excellent school catchment. Add in proximity to a lovely village as a bonus.....BUT I fully expect that if/when the downturn hits, I'll lose roughly as much in % terms as most others. Having said that, I got a hefty discount on the A.P. AND 20 grand of remedial work thrown in, so I'm comfortable with my decision.
  2. RK, I agree with your post entirely BUT it's been my experience that changing environments DOES upset the little uns. Sure, once they're used to it, they don't care if it's a flat or a mansion, but the moving process itself can be a little traumatic for them.
  3. Allwright : "Rich people make better neighbours than poor...." <END> Did he actually say that? He should be one of the 2000 who get the chop, tw*t.
  4. "I'm sorry, I really can't believe that people are telling you to buy a house in the current housing market" :angry: 1) Nobody here is TELLING him to do anything 2) I understand why you're advising him to wait. Do you understand why others are not? They are giving him this adivce because their experiences are different to yours.
  5. James, here is my opinion FWIW. Incidentally, I'm in a similar position to you, right down to the age of our daughters! I've also negotiated a 12% reduction vs asking price, very similar to yourself. The best advice I think I've ever seen on this forum is to try to imagine which of the possible outcomes of your decision would make you feel worse. If you buy and house prices fall substantially would you feel worse than if you didn't buy and they carried on rising? For me the answer is no. I am buy on a low earnings multiple, so more IR rises and/or HP falls will not put me on the street. I pla
  6. I work for a mfg company (yes, there are some left) and the industrial staff pay award was 4.7% this year.
  7. Gooner, read your post with interest. Can I PM you for some advice.....I am 'in negotiation' taking the advice of a CFA. The vendor has made some odd moves which I can't really interpret and I'd like an informed opinion. Would that be OK?
  8. Can someone C&P the regional figures pls.......I get a corrupt file error. I can't believe West Mids is + 6%!!!!!
  9. Nice result. I put in an offer 20% below asking and was rebuffed, not very politely! House is still for sale,now 50K MORE than it was when I made my offer!!!
  10. Excellent point, which had escaped me completely. However, even though I have no more money to play with, it's the effect on the figures I'm interested in. If 5 of every 100 wages are 'falling' (but not really) by 3%, then offset by a 4% pay rise and the rest are simply rising by 4%, then this might be calcuated as an average rise of: ((5*1.01)+(95*1.04)) = 103.85/100 = 3.85% when, in fact, wages areactually rising by 4%
  11. Choose life. Choose a job. Choose a career. Choose a family. Choose a ******* big television, Choose washing machines, cars, compact disc players, and electrical tin openers. Choose good health, low cholesterol and dental insurance. Choose fixed- interest mortgage repayments. Choose a starter home. Choose your friends. Choose leisure wear and matching luggage. Choose a three piece suite on hire purchase in a range of ******* fabrics. Choose DIY and wondering who you are on a Sunday morning. Choose sitting on that couch watching mind-numbing sprit- crushing game shows, stuffing ******* junk foo
  12. The company I work for has just adopted a pay scheme which reduces NI contributions for both the employees AND the company. Basically, there is a negligible increase in take-home pay (actually, my take-home will increase by 90p per month.....wooohooo!) but the company reduces the employees gross salary and makes equivalent pension contributions on their behalf. I have just seen calculations that show my gross salary falling by 3.5% (with an equivalent increase in the pension contribution benefit). I wondered if anyone else has seen this and how widespread the change could be. Also, and more i
  13. Alternatively, you can club together with 3 mates who have weak pulses to buy a house.
  14. Had a chat with a mortgage broker last night. One comment he made in passing "The BoE wants to kill the market stone dead and they won't be happy 'til they've done so." I began composing an explanatory response covering money supply, CPI vs RPI, 2-year time-lags etc. Then I thought "Bu44er it, I can't be bothered". Bed made, lie.
  15. There's an interesting comment in the BoE's latest prediction, saying that the MPC have assumed a further 10% fall in utility prices even after the current round has worked through into the calculations. Then there is further comment that effectively says "However, we are only guessing". This sheds a little light on the fan charts....for me, it's still not clear enough how they are arrived at.
  16. In my neck of the woods (Staffs), something appears to be going on. Everything was going pretty mental until about a month ago. I looked in the local EA windows last night and about 25% of the properties have had new prices crudely pasted over the older ones. A month ago, a few (perhaps 5% of total) reductions were evident. The most extreme example I've seen is a barn conversion on at 625K 2 months ago now at 575K (3 stickers on that one, very crude and smacking of desperation). A financial adviser I know says that, in his opinion (and he has a lot of clients in the property industries), a re
  17. Also, did you notice the 'Countdown to Rate Rise: 21 days' graphic? This is clearly becoming SO much more prominent that of recent months/years.
  18. Dubsie, you just became my favourite HPC poster. I reached the same conclusion (in bold above) and have consequently made an offer that is 82% of asking price on a house that I really, really like, and has lots of potential for fututre improvements through TLC. I probably won't get it, but to me, that's what it's actually worth. The vendor is a property developer who's done a lot of cosmetic work using his trade contacts. I've guesstimated what he's paid, added it onto the nethouseprice purchase price (God bless the internet!) and bumped up for a return well in excess of bank rates, and I STIL
  19. As soon as I saw the first couple going into Mamas & Papas I knew the 'figures' were dodgy. I reckon my 4-year-old has cost about one third of the amount that program predicts so far. All I've done is buy stuff from places like Asda & Tesco, where the prices and quality more than are decent, not places like M&P which are a 'designer' rip-off.
  20. Can some of the 'older' forum members recall a research paper published approx. 18 months ago (maybe even longer) where some academic had attempted to model the housing market in the UK and other countries. I remember reading it during the 'slowdown' of 2005, and he/she had predicted a pick-up in prices over the next few years, followed by an almighty crash. It seems that the first part of their prediction is spot on, and I'd like to find the paper again to re-read it.......can anyone help me out? I've had no luck with searches. Thanks in anticipation, CF
  21. I used to have a mortgage with Abbey. I got myself into the position where I was able to overpay quite aggresively, and I'll never forget the experience of going into my local branch & trying to make an overpayment. Always the same. Of the 8 counter staff, there was only one who knew how to process a capital repayment...the rest had no idea what it even meant. In the end I used to wait in the queue until that particular staff member was free. I'm sure Little Britain got their 'Computer Says No' character inspiration from Abbey.............
  22. Don't get too excited about the 'last 24 hrs' search results. I ran it for my area.....at least 1/3 of the property showing has been on the market a lot longer than 24 hrs. EA tricks to get hits, or multiple listings perhaps. Whatever the case, the number can't be trusted unless there's historical data to compare it to.
  23. With those qualifications you could join the MPC...................
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