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House Price Crash Forum


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About mattycee

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  1. Lot 37 sold 136k This last sold for 270k in 2005, so a 50% drop from 05 price. Was thinking of bidding on it myself but thought it would end up going for more than the guide price so didn't take my interest any further than viewing. Starting to think I should have!
  2. I am looking in a different area, Peterborough/Oakham, but have found you can get subsantial discounts on new builds now. I first viewed a 3 bed semi on the market at 179,950, this was eventually reduced to 159,950 over a period of around 3 months, May to August. At this point I made an offer of 139k, this was rejected and I was told they would accept 149k. I decided against this and decided to wait. In early October I received a phone call saying they would now accepy mt offer of 139, I asked to think about it for a few days and came back with an offer of 129k. This was rejected and the asking price was reduced to 149,950. The last plot was sold last week and I am told it went for around 140, will have to wait for the land registry figures to confirm this though. So in summary I first viewed in May at 179,950, which is the price that the first few plots went for, have checked on land registry website. And by October I could have completed for 139,000. A drop of almost 25% in less than 6 months.
  3. From what I have found the average wage in Rutland is 28k. 3.5 times this 98k, dont think the builders will be willing to go that low if i'm honest. Anyone on here been offered any good deals on new builds recently? am unsure of what to do at the moment, have been told that £250 will hold the house for us once we have agreed a price, but is anyone aware of how long it will hold it for. I am hoping to reserve it and then wait patiently while watching none of the other properties sell and more house price crash stories to make the papers and then go to the vendor and say I am pulling out unless offered a bigger reduction. Any thoughts or advice would be greatly appreciated
  4. Thanks for your help guys, have recently found the house that we want. Is a new build and have been to view it a couple of times and am now at the stage of negotiating with the vendor. Was wondering if anyone has any recent experience of how much they are willing to reduce new builds by to get a sale. The house is up for 159,950 but reduced to 155 with there offer(to pay £200 a month for 2 years). I know they are not selling well at all, since we started looking over 4 weeks ago none have sold on the development and one has been up for rent for over 4 months(having been bought for 180k by someone a bit late onto the btl bandwagon). Any advice would be greatly appreciated as we really like the house but feel there is a lot of discount to be had on the asking price. Thanks http://www.rightmove.co.uk/viewdetails-172...=1&tr_t=buy
  5. Hi, I have been renting in Rutland for around a year now while keeping an eye on what prices are doing. Have viewed many houses and have put in offers on 3, all offers around 20% bmv. Each time this has been swiftly rejected and i have been given a speech by the EA that prices in this area will not go down. Was wondering if anyone else was looking around here and what their thoughts are on where prices will go. Thanks
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