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About bmsky

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  1. bmsky

    Made An Offer

    QUICK UPDATE: house has sold, not sure what for but checked website and it has been taken off. Have been keeping an eye out generally around leeds, especially terraces. They DO seem to be selling right now - at auctions, a lot are going for well above guide price (not sure how significant that is?) Spoken to quite a few friendly estate agents when been shown around houses in south leeds area and all tell me that viewings and interest significantly up since early January (young lasses showing me around and im quite sure they werent trying to ******** me).
  2. bmsky

    Made An Offer

    just checked estate agent website again and it is saying the place has an offer of 76k on it and people are encouraged to bid higher - or words to that effect, gonna watch and see what happens - will keep posted more generally around leeds, been monitoring auctions and houses going through at good prices still (or rather well above guide price)
  3. bmsky

    Made An Offer

    Oh, just one more thing: houses on same street were going for 120-130 at peak (07). The house adjoining it went for 125 in 07. This makes me think (or, rather, guess) the bank is prepared to take big a hit on it and just wants shut, hence, low cash offer.
  4. bmsky

    Made An Offer

    thanks - some great advice here. I was chatting to the next door neighbour when I went to view the house and was told it was a couple who'd split up - ended quite messily he told me. The house has been 'under offer' a few times in recent months but each time has fallen through - the estate agent girl who showed me round told me this. She said finance kept being the stumbling block. Re myself, I have the cash in the bank so not an issue (the estate agent asked for documental proof when I submitted my offer and I gave here it). I was hoping that would put me in strong position. One more thing: checked Zoopla and couldnt find a last sold price for the house. Anywhere else I could check? cheers
  5. bmsky

    Made An Offer

    Just wanted some feedback on what to do next. Made an offer on a 3-bed semi. It is a repo, has been on market around 8 months and had its price lowered steadily to 79,000. It is up with 2 estate agents, one of whom tells me they have an offer on it. I offered £65,000 cash in writing over the weekend and the agent came back today and told me the vendor (ie bank) had turned the offer down. They asked would I like to raise my offer. I said that was highly unlikely as that was all I had. Just wondering what to do next? Should I give it a week and raise it a couple of K (I can go higher financially)? Not sure what offer is on table or whether it is a solid one or not. Any thoughts greatly appreciated...
  6. Thanks for all of this advice. Nothing, it would seem, is that straight forward although I am coming to the conclusion that sticking is better for the time being. One interesting anecdote which partly explains my caution in any case re the housing market generally. In 1999 I bought a house in the North East with an ex (while working up there). It was a reposession, 3-bed detatched, 50k, and pretty nice. Long story short, we split up in 2003 and at a similar time I got a job in a different part of the country. I agreed to let her buy me out as I felt the market had more or less peaked. In order to value the house we put it up for sale. Best offer was 90k. So basically the ex paid me the difference (20k or so). Anyway, she ended up selling 2 years later for 155k (I kid you not). I was bit miffed when I heard this but at the same time philosophical - after all, hindsight is a wonderful thing and all that. What this made me think was, I was certain the market HAD to fall at that time - but it did the opposite. So what do I know eh? Another interesting thing: I know of two sets of friends who have jumped on buy-to-let bandwaggon in the past 18 months (and tried to encourage me and my partner to do likewise but I have to say I really find buy-to-letters - especially the smug couple types - v v irritating - dont know why). Both paid way over the odds for shite second homes which they let out and which will plummet if this board is anything to go by. Both may get their fingers burnt and, although friends, I will be first to tell them that they would have been much better letting a 1st time buyer get on the ladder rather than trying to think they are entrepreneurs (yeh, right) or whatever. All in all, I would say these are very interesting times we are living in...
  7. Gilf thank you for taking the time to reply. So i guess renting for two years and hoping house prices plummet is the only way to benefit from this situation? If it helps at all by disclosing more details, our current mortgage is paid off (please forgive me if that sounds smug). I'm not looking to make a financial killing in the current situation - just to move somewhere different without getting my fingers burnt in the current uncertainty, I guess. Anyway, I'll keep an eye on this forum, which seem very negative as far as house prices go. I have one more question which relates to this and which I suppose is influencing my thinking. I've always assumed that the big factor that would cause houses prices to drop would be redundancies (and consequent house re-possessions). With low levels of unemployment, will we not just see in the current situation loads of houses on the market that won't sell? As opposed to big price falls? That seems to be the case near where I live - I've seen houses that have been on the market for almost a year and the sellers have hardly budged their price (they look stupidly over-priced for what it's worth). Anyway, interested to hear anybody's thoughts.
  8. Not sure if this is the right place for this post but anyway... I chanced upon this site - which I think is great btw - when looking at house prices in my area (Yorkshire) generally. My situation is that me and the missis have been thinking of moving for some time - we live in 3 bed at moment but 2 of bedrooms v small and we want somewhere bigger. Child on the way too. My question is, is now a good time to move given the state of the market? I've seen loads of houses near me that just arent shifting, many falling in price. I'm worried that the same thing will happen with us. At the same time I'm trying to balance this with being able haggle aggresively on price when we find somewhere we like. Everybody on here seems so clued up so any advice much on what they might do in such a scenario much appreciated.
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