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About CountryBoy

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  1. I have noticed the same thing in the car park of my local railway station - it might be to do with the fact that grasping NCP have taken over control of the car park and massively increased car parking fees - but it is defintely quieter - at least a third down in number of cars parked, and I first noticed this reduction happening a year ago until now when it is at least a third down.
  2. Thanks for the advice everyone, I'm now looking into the life assurance policies - we only have 2 because we didn't cancel the previous house life assurance! And yes, after looking around it does seem a bit excessive. Our mortgage is for £250,000 over 23 years and our house is worth about £550,000, we are 34 and 37 and my thinking is that we only have 1 earner at mo, so once I'm bringing in some dough things will look brighter for us. Don't you agree? I'd feel more in control if we only have the mortgage, be it a massive one, rather than a massive mortgage and lots of loans/cc's. It gets even worse now - back in February on another thread she confirmed the above details - it suggests that when it came to re-mortgage in July they increased the mortgage from £250k to £390k then. Also even she and hubby had to accept in the meantime the value of their house in less than a year has dropped from £550k down to £450k - yet they still got many other debts - apart from perhaps paying off one or two loans. This suggests the origin of the £2k she said they were using from elsewhere and yet this is now running out. £140k blown in less than a year just to keep standing and spending!!! They are finished IMHO and to be bankrupted is really their only option now it seems.
  3. What I am surprised no-one seems to have picked up on yet is that she is (if I am right) Esther Rantzen's daughter (with daddy's surname) - didn't anyone pick up the mother/daughter appearance?? So like mother, like daughter into the same profession...... Personally I found the programme was pitched right for all the 'Wayne's World' types now running into serious debts without a clue how they achieved this! I know there are some stupid people out there, but that girl with her 29% off response caused a serious injury to my jaw as it hit the floor in shock HORROR................
  4. Here is a link to the most stupid and wishful pricing of a 'beach property'..................... I am speechless, it doesn't need any explanation from me! http://www.primelocation.com/uk-property-f...d/HCRB999000132 For £65K more you can have a Grade II timber framed house with half acre and 5-6 bedrooms with potential for annexe a mile or so inland
  5. Not this area, but over in NE Essex, just to show how the city banking crisis is beginning to hit in all areas, a neighbour of my parents told them this week that he was made redundant Tuesday having worked there 18 years and was one of their better performers too, recently getting a good bonus etc. It was brutal as you can imagine, into work, directed at once into office to be told was redundant, escorted to his desk to get his personal things, where his boss was already rifling through his personal stuff out of his desk drawers! Got a old farmhouse which recently had major refurbishment works, hopes to get another job quite quickly and had had feelers come his way, but let's hope so soon, because of his mortage etc.
  6. That flat was acutally up for sale by auction recently in April - one of the London auction houses Allsops? From memory think its guide price then was at least £80k or £100K Maybe someone can double check?
  7. Another one noticed recently by monitoring rightmove - village between Colchester/Clacton - a 4 bed house on a reasonable plot was up about a month ago for £440k. Now reduced to £389,995!!! A drop of £50k or 11.4% - it's a start............... A couple of years ago (I think from memory) it was unsuccessfully on the market for a while at £360-375k or thereabouts.
  8. It was quite interesting comparing the prices now accepted on the results' list with the original guide prices given at the auction, for the unsold properties. It is clear most sellers are still blind to the reality (or are still desperate to get their money back at least), most keeping their acceptable prices at the bottom or within the original guide price range. A smaller number have dropped £5-10k below the guide prices. Conversely some have actually increased, showing where their real reserve price was set at! The following small number of lots have dropped down significantly (more or less) below the original guidelines: Lot 9: 65 from 80 Lot 11: 350 from 400-450 Lot 12: 87 from 100 Lot 30: 310 from 300-350 Lot 47: 480 from 500 Lot 49: 200 from 250 Lot 71: 230 from 250
  9. Not really sure if it should be here or the East Anglia forum, but anyway just a bit of an observation on a typical midding flat saga developing in Colchester: Just seen a final offer advertised for £100k on a probable 2 bed flat (No 157) at the Claremont Heights. This is a flat complex right next to the railway station, so fertile ground for FTBs and BTLs no doubt over the last few years. Lots of new flat developments and hence competition in that area now. Its history is: 18 Aug 2000 £60k (not new build) 15 April 2005 £120k By comparison No 142 went for £129k on 13 Jul 2007 Now another 2 bed flat is being advertised on the market at £109,995 (very generous about the fiver they are!)
  10. Hi folks Following on from my post on 22 April I have now seen the results on Essex Team Auctions and they are v v bad! There were 17 lots and only 2 sold, one of which was prior to auction, so only a 6% success rate in the auction itself! The property I referred to was unsold.....surprise, surprise.........the guy enacting the auction must have had a busy time plucking bids out of the air!
  11. Hi Moonriver Yes I can give one good example of that - it was a property that Essex Team Auction put up for sale last summer at auction. It was a listed timber framed property in poor condition internally with awkward layout, no garden, just courtyard that could be, and been splitted into two separate dwellings, in old Harwich, trying to milk association being the former home of the Mayflower's ship captain, etc, etc. I reckoned it needed at least £100K to put back into an appriopriate condition. The guide price was either £300 or 330K from memory! And the bidding went up to £290-295K before remaining unsold. Now it was in auction again the other week by Essex Team at £250K guide. Probably unsold amongst other lots? Because it is significant the Team Essex have yet to put the results up on their website after several days now..................
  12. Mine is at 27% on my net pay, on a fixed rate. Then there the wife's part time jobs to take into account for our standard of living, plus no kids. This is the third and biggest place yet.
  13. That is a brilliant illustration of what is so wrong with this housing market now - somehow that image remains stuck in my mind for evermore.............
  14. What concerns me and is confirmed by this post is that on top of Gordon's incomprehension about the current state of affairs, he and his aides are sh*****g themselves over the potential impacts on the Labour party fortunes come May and the general election two years hence. Never mind if the measures they put in meanwhile bankrupts the country and taxpayers, so long as the seats are saved :angry: !
  15. Hi to all here - I am off sick at the moment but as a result came accross HPC and have really enjoyed reading all the variety of opinions and experiences, getting addicted to reading all the postings. It saves me getting brain damage having to watch the day time TV..... Like many other people who have come on the site I have enjoyed reading about 'real life' facts and thoughts as opposed to the vapourings poured out through the media etc. Again like many others here I used to think it was only me who could see where the BTLs and over extended house buyers were heading for (over a cliff) especially over the last few years. The maths and risks weren't adding up! My background is as a building surveyor so as you can imagine I am aware what property renovation entails. This meant serious injury as I watched the likes of Property Ladder and my jaw would crash against the coffee table as I saw yet another brain dead 'property developer' sleep walk through potential disaster and only get reprieved through the joys of HPIs, despite ignoring dear old Sarah's advice - and yes she was one of the better things about the programme. To give some light on my housing experiences, I first entered in 1986 buying an ex council house (4 bed) for £33,000 selling it a year later for £49,000. Then in Feb 1988 I brought a 2 year old 3 bed detached house on a nice new estate with woods and a country park nearby for £82,000 (you will see where this is heading) and thus suffered negative equality through the 90s'. I sold this in 2002 as by then I was married and the OH wanted 'our' property - this was sold for £145,000 with £10k remaining on the mortgage. The new property was a 5 bed 2 bath detached 18 yr old house which was sound but had been neglected and was absolutely dirty and decked out in typical faded 1980s decs and fittings. The garden hadn't been mowed for years (yes, years!). This was brought also in 2002 for £225,000 with a £100k mortgage. I paid the full asking price as it had already been discounted to reflect its condition, was sound and there was naturally some competition for it, including over the asking price, but fortunately the vendor stuck with us. Probably because she liked us as we hadn't turned up our noses at the condition the place was in (does pay to be nice no matter what) unlike the other person we suspect. I have no idea what its current value is in this unstable market, but have seen similar 4 bed detached houses on sale locally between £425-440k to give you some idea. BTW I can't see them selling at these prices, and suspect a more realistic figure is in the order of £350-385k if they wish to actually sell now. I fully expect a market correction to take place over the next couple of years or so, so am thankful that I have some equity leeway in the house for this (as an aside I know there are pros and cons, but in view of the present circumstances am grateful I went for a 10 year fixed mortgage at the time so don't need to worry about re-mortgaging right now!). We also have savings for the rainy day and opportunities. I believe I have been fairly conservative and realistic about the amount of risk and debt in relation to our incomes etc, simply because I lived through the last GC1 and know one must be prepared for the unexpected. Hence my amazement at others always assuming the sun would shine, house values would always go up, tenants be found and rents always achieved and paid, no jobs be lost, the economy will keep booming, and MEWing will keep paying for the holidays, cars and flat screen TVs......... My ramblings simply serve to illustrate my main interest with this site which is that as always with the benefit of hindsight I wished I could have brought up the row of houses at the bottom of the last crash to reap the benefits by selling just before the top of the recent market. I do not trust the Government to keep its side of the bargain with pensions etc over the next 20-30 years, and do have a property background. Thus being older, wiser, and hopefully with some more resources, I can take the opportunity of the expected market correction to achieve this aim over the new few years. However, this will only be if the maths and risks work out likewise, taking opportunities in a local area that I know well, through auctions or other routes. Otherwise I will keep out. I would welcome others' views and debate on this worthy aim of mine.
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