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House Price Crash Forum


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Everything posted by Ride_on

  1. I think the elephant in the room is that we haven't triggered article 50 yet. We havn't left and I predict that we won't. Why?? for the doom and gloom mentioned above, expanded many times in every area and no politician wants to do it.
  2. Isn't it just, "economy getting jitters from brexit, bank property reducing in value, create house price boom by expanding debt" as per the 2000 deregulation triggered boom?
  3. Vision came back with the lowest offer <£1000 all in, but unfortunately the ex seems to think that the that fact the more expensive EAs 'know the market' and therefore add more value. Of course they don't offer a higher price nor make any promises so I struggle to see this value or how 'knowing the market' helps them make a private sale. Do they know where a secret stash of buyers is hiding perhaps? This is the same meaningless crp pedaled by the EAs when I phoned up for quotes. thejaksie, did you sell a N.Ireland property in housenetwork.co.uk, it does seem to accept NI postcodes for agent search. I think we don't have any on-line sales access at the moment. Still at the end of the day we can't access PN without them and need them to take the bids honestly.
  4. Hi everyone, long time no posting. I've been, and will continue to rent for the time being but after various legal issues with ex, now has come the time to sell my property and I'm wondering about EA fees. Seems the standard rate is £150-£200 registration that covers the setup and advertising then they want 1% of the selling price. Vision are offering £1140 which seems to be the lowest but I would not be surprised if there are hidden charges. After adding everything up and adding vat its just under £2000 for a property of £140,000. Doesn't seem to be much competition in the market and they are not exactly biting my arm off for the business. Anyone know of any EA looking for easy money at a lower price? Fundamentally all I really need is the Propertynews advert, why does that cost £2000?
  5. Well the upturn is definately in there and some are saying its all over. I am still sceptical and hopeful that prices will continue down to a more sustainable level. I feel the economic requirements have been put off in NI. Another crash anyone? NI dependancy on Public sector - This is being slowly adjusted, fairly quietly IMO, but rightly so in many areas. Redundancy payments have cushioned the economic effects for now. Will be more pressure in future. NI Benefits reform - Been put off a few more years, will hit LLs NI Water charges - Still on the table (more public sector jobs?) FTB age - Still in 30's probably increasing, renting culture increasing Energy costs - oil price low, long term increase.
  6. http://www.bbc.co.uk/news/business-28361778 Good to see the right words but does this mean anything moe than tinkering at the edges to satify bloodlust for banks? They think bank charges would be better for competition to encourage people to move. Certainly would make comparision easier. I think the main problem with competition problem is barrier to entry, in that, for reasons I can't fully understand, small banks are not allowed.
  7. Is this a 'household' salary rule, meaning it is miles away from the 3.5x main earner+ 1x 2nd earner sustanable average.
  8. It does seem unusual to me, but it doesn't say the tenant is liable for all the rent for the year. If this is a get out of contract clause it is a generous one. Others want guarantors who are liable for the whole term. I would also hold back your knowledge cards, these could come in useful if you need out of the contract early. Often just mentioning rent books is enough to send most ll scurrying.
  9. If you want to go the debt forgiveness, you need to play the bankruptcy game with the bank, they would probably rather not make a total loss on the negative equity. But if they think you will never go bankrupt they will not fogive the debt, you need to give them a reason. If you can agree some profit for them rather than bankruptcy they might accept a reasonable figure. You need to be prepared to go for it and lay it on the table to the bank, then you have something to negotiate with. And you need to stick with it, they may only back down once they realise you are serious. Other than that I would also recommend renting, stability is not a good reason, you are ruining your current stability by moving out of choice. Stop being a rental snob! Being chucked out is rare, LL's prefer a long term tennant, especially in a decent house. Even if you do get chucked out, renting is easy in easy out, and still cheaper for a decent house.
  10. My sister who always pays her bills, has a working partner, is 40 and been renting houses since outgrowing their purchased house in the last 6 years or so, still apparently needs a guarantor who works and owns a property. Is this normal, I've never needed one.
  11. By your various reference to housing ladder, equity and investment I would be concerned that you have not read this forum for very long. It is dangerous to consider a home as an investment and you really should reconsider your attitude unless you intend to do this for a living. If you intend on moving again in a few years then it is likely you will be better off continuing to rent. £700 will rent you a very nice house in East/South Belfast or North Down which would be considered a lesser location downgrade from Malone, balanced by an upgrade in property. Drastically downgrading just so you can buy could well lead to problems later. Granted paramilitary activity has reduced but the people and mindsets havn't gone away you know ;-) Why don't you rent in Carrick for a year?
  12. I still maintain that in a 'buyers market' there are more sellers than buyers, therefore no need to bid. Its another debate if it has swung back to sellers, although I personally don't think it has. I might also sit on the side line waiting for a bid, but I am actually waiting a 'period' for the seller to get more desparate for my bid. If another bid arises I will walk away.
  13. A rental agreement goes through within days, 2 weeks tops. If you are looking at a family home, you will be able to afford much more renting than you could buying. Get somewhere really nice and enjoy it while you get a good deal buying. Renting is easy in easy out, just move quickly once you have settled on somewhere. Always offer £100/month or 10% off the monthly asking for a quick agreement.
  14. I've a similar story, offered a lower price after ghost buyer dissappeared, was accepted :-) 1990 Simple rule : In a buyers market NEVER raise your bid, and NEVER bid against someone, be prepared to walk away.
  15. The reports and accuracy are less important than the message they send. Even if we used a proper measurement system (which would not be that hard) there would still be inaccuracies and imperfections. They encourage the improvement of properties and make people think about efficiency, in theory. I'd say we'd get more benefit from policing the requirement to have one advertised with the property than to improve the accuracy.
  16. Newer houses are apparently more expensive to build than older houses, increase in material costs, legislation, insulation and so on. The price sounds quite reasonable for now, but I do expect prices to drop further, so in answer to your question I would not offer anything. I'm happy throwing away money on rent, as it is much less than I would be throwing at a bank for buying same place.
  17. If you have already fallen in love with the property, and/or are limiting you area of choice you are already sacrificing your ability to negotiate. If the sellers refuse to sell at a low price you will have no choice but to increase.
  18. There are loads of properties, do not chase vendors, if they are not interested walk away, look somewhere else. If you chase you are desparate and will pay too much. You are a buyer, a rare commodity you are important to sellers, make them fight for you.
  19. On the religion issue, there is plenty of evidence that most people in N.Ireland are not religious. You need to ask the right question, and most surveys come with a religious focus 'what is your background' for fair employment legislations (which is world leading BTW). If you also give the 'non-religious' option this is what most people select if you have ever used a dating site (so I've been told>>).
  20. I think the premise is to make some money while prices 'return to normal', but 'normal' is defined as the biggest price they once heard for their property. Prices are returning to normal, but that IMO is pre-ceasefire price-to-wage (main earner) ratio. In my case this was 2.7x in 1990. This means about half the current values. Prices here were once similar to greater London, they were the biggest price-to-wage ratio in the UK at the time, utter madness and totally unsustainable.
  21. The market up that end is still stuck artifically high IMO, I am renting rather than buying. Many sellers have dug their heels in and are simply just not selling. It also been demonstrated that this is not because they are locked-in to a mortgage in Neg-equity. They tend to leave houses empty or rent them out (at a loss making level once they pay tax on the income). At the upper end renting is significantly cheaper by an order or 3 or 4, just on rent vs repayment mortgage. Its does not include rates (say £200/month included in rent), maintenance, deposit etc. Rent will get you a fantastic house while you look around. I recommend spending as much as you can, say £1000/month. Even if you spend your equity from your current house it will be cheaper than buying a house that is losing value at a higher rate. The market here is screwed, today the Ulster bank reveilled a huge loss because of crystaling losses on the sale of land intended for development, turns out they were wrong about the value until today. The banking lies have still to be exposed, we are heavily dependant on public sector wages, average salaries going down, employment dropping, rental support dropping, no rates holiday for empty homes etc. The crash hasn't happened yet. Renting is easy, low risk, get a 6 month contract no problem. Go with the flow, everyone wants to sell at a stupid price and would rather rent it out at a loss, just let them do it, don't fight them.
  22. http://www.bbc.co.uk/news/uk-northern-ireland-21615789 Good old Ulster Bank. Apparently they only need to adjust book value when an asset is sold, they just keep it at the value they paid for it. Brilliant that means my 17 year old car is still worth £4,000. This is why they 'still' making losses. Its a pity other industries are not allowed such creative accounting.
  23. I've noticed that debates such as 'US gun control' and 'the environment' also take such forms. People say guns should be controlled, the gun lobby says they are expecting no guns. Environmentalist says fuel should be more expensive to discourage its use, the oil industry says they want petrol at £10 a litre. It seem to be human nature to extremise the others argument and make it unreasonable. I remember when I was a teenager and I told my mum I hated her (while flopping arms around etc lol), she later said that I had wanted her dead. We made up. The answer to such human nature is civilised debate quoting figures and such, and we do get that here alot, lets try not to resort to misrepresenting each other, or provoking such reactions by insulting remarks.
  24. Rents are much more closely tied to affordability as you generally can't borrow to pay rent, but you have to take into account the full costs and additional risk of ownership; Maintenance and repairs Rates cost of moving to a new home for change of circumstances Risk of buying a lemon, or someone setting up an industrial waste disposal near you Risk of negative equity and you not being able to sell on change of circumstances
  25. I have to take issue the concept that the south east of England creates wealth. Gov't consume wealth, sometimes for the greater good, sometimes as a general overhead, their ability to create wealth is more of a faciliting role. The majority of the south's 'wealth' comes from banking, which for most scientists and engineers is money and not wealth, they merely control the rules for money and are able to move money from the rest of us to a small number of individuals. Without the rest of actually creating wealth they would be pennyless. I would of course prefer a system where wealth was earned and spread more fairly but that doesn't come easily with central control. I might be generallising a bit, I'm sure that are many companies in the south that are creating wealth, I just take issue with including banks in that.
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