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House Price Crash Forum


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About klee

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    HPC Newbie
  1. You really think if you or someone stopped paying rent the landlord wouldn't be able to pay the mortgage? You don't know how much the landlords mortgage even is, all you can probably be sure off is that the landlord is happily making money from all off his tenant's each month.
  2. The renter would get evicted by the landlord. What the point in this pointless topic?
  3. Like I said before, how does the buyer know this is an identical property in terms of it's condition to the one that sold for £70k? They can only guess that this property was in bad condition reflecting in it's price of £70k and not £100k like the rest in the same st. If it was sold privately by the distressed seller, there is not any record of it's condition via an estate agent.
  4. Many are on high rate repayment mortgages, high rate secured and unsecured loans. They sell their house, get a lump sum to pay off all their debt and be left with a lump sum to start a fresh. The will only have their rent to pay now, the rent will be much less than thier original mortgage payment as it be on a lower rate and it will be based on interest only, they have no more high monthly payments to make on their secured and unsecured loans.
  5. Say no 5 has sold for £70k and no 1 to 50 have all sold for £100k. The buyer will not know why it sold for £70k, it may have been failing to bits hence the cheap price. If the others have all sold for £100k then the buyer isn't going to think it is now worth £70k based on one sale. How many people do you think are distressed in that same st and willing to sell for £70k, probably none. Because one property has sold much cheaper, that does not set the market value on that st. The surveyor will not value that house at £70k if all the rest have sold for £100k.
  6. The story is true, we deal with the Kepplestone service apartments and they have confirmed it's true. However the story has grown several arms and legs. There was a hole made (about a shoe size). Any stories about restricting certain number of people allowed in one room at a time or the ceiling caving in is rubbish.
  7. The important word here is 'could', it doesn't say 'is'.
  8. Probably sourcing out properties with good cashflow, should the property value take a downturn then he will have enough cashflow from the property to cover the lenders SVR. Capital appreication will take care off itself in the long run.
  9. Can't comment on the houses but the flats I can, 1 and 2 beds are still high in demand, especially 1 beds, they won't sit on the market for more than a week or two. 2 beds take a little longer to go but demand is still high. You can call any letting agent in Aberdeen and they will confirm the same. I have 2 x 1 beds on Broomhill Road, both gone within 1 week and rent £575. If that flat is still empty then I can only guess that they are charging silly rent which is putting off renters. You don't know the circumstances of the empty properties, I have a friend who's 1 bed flat has been empty for 5 years on Holburn Road, he moved out in to a bigger place and just kept that one without even renting it out, he could afford to do this as his mortgage on his 1st property is so low. With your back of the fag calc and the £8k figure, your only guessing, you don't know what the purchaser has put down on that property and what his payments (if any) are.
  10. I wouldn't be surprised if they were empty, who in the right mind would pay £320k for a 2 bedroom flat?
  11. Of course it's sold prices, sound like your just trying to find any reason that his report is wrong! Yes some properties are going for under the fixed price, that's the ones which are way over priced in the 1st place. Remember the 2% increase is the 'average' of Aberdeen meaning some prices have risen and some have fallen.
  12. If 173k is correct then I feel sorry for whoever paid that for a 1 bed, they must have money to burn! The 2 beds in strawberry bank are valued at 170 - 180k. Don't even know if people are willing to pay 180k for them now with all the doom and gloom news. Same as Bloomfield Court, theres a fixed priced 2 bed for around £175k and it's sat there are a few weeks now, that would ahve been snapped up last summer very quickly.
  13. Aurora luxury flats for £350k with a luxury view of Aberdeen prison! Classic!
  14. My friend just sold his 2 bed self contained flat in union grove for £260k, it's the highest priced 2 bed in Union Grove now, even ahead of the cala flats. Although it sold for £260k, it's market value will be much less. I guess there are still some crazy people out there. Remember every market is different, even though most of the English housing market is dipping, Scotland and Aberdeen is a different market.
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