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House Price Crash Forum


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  1. It appears you have an exit strategy which is great! however when I was working in London and I would say have to go to the south coast and be at waterloo station at 6.15am and see hundreds of 50+years olds in their suits coming off the overground and onto the tube makes me wonder what kind of life they are having. Don't lose sight of the end goal and beware chasing the salary( easily done in London) and you should make it out of the circus in one piece!
  2. Don't agreee mate. Everyone has choices in life. There are tow types of people. Those that the enviroment control them and the others that control the enviroment. Zombies in London really have no life and they should think whether this is worth the extra £
  3. This is a message for all Londoners! Just stop for a minute! Get a life and stop wasting your money and your time on commuting in crammed conditions so you can buy an overpriced box! Why pay over £4,000 year and c1.5- 3 hours a day standing on zombie trains. There really is more to life. I lived in London for 10 years and ended up leaving after my office moved and I had to take the tube for 20 minutes to the offices. I couldn't stand it. Previously I could walk to work - 20 mins as lived in zone one and although paid more in rent, didn't have to pay for a season ticket and saved the time
  4. That's exactly right. The asking price was £435,000 but had been on the market for a year and was empty (Ex BTL property). my frst offer was £360,000, EA/vendor said no. Next and "final offer" of £375,000 with furnishing ( Kitchen appliances, small bits of furniture etc) after explaining all its faults e.g Lounge is a little small for that asking price etc. EA asked how quickly I could move, I said very quickly .i.e 4 weeks. EA phoned back and confimed the sale to be done in 4 weeks. Surveyor went in 2 days later and no major issues. I phone EA to say all was fine and that I was wanti
  5. My logic is a house is only worth what someone is willing to pay for it. Me and the Mrs had put in several "cheeky offers" to several other properties which had all been declined, until this one. Once we had our original offer accepted the Estate agent said they wanted it sold ASAP and we were to move quickly. On probing further the EA said they were in financial difficulties having other BTL properties and were heavily leveraged and needed to raise cash. I knew that they had bought this property for £225,000 in 2001 and have been renting it out since and so they had done pretty well from t
  6. I confess, I am a bear and completed last week on a 4 bed detached house, nice rural location and garden - This was done for two reasons. 1) I have a young family, and another one on the way ...the MRS was nagging and we have never owned a home becuase I would always have sad for the last 7/8 years....."wait till prices have come down 40%" and " prices have to come down, they are way too expensive"...... I still believe this, but money isn't everything. 2) I was concerned about the cash balances in the bank account and risk of further financial implosion and thus losing everything......alth
  7. Nope but it has a MacDonalds!! Still nothing selling and more and more coming onto the market. Prices edging down slowly! ( but not quick enough for my liking!)
  8. The problem with your plan of "only Saturday Viewings" is do you really want to leave your pad every saturday which happens to be the most popular day for viewings, and not get a sleep in, lounge around the TV etc. As part of our agreement we did ban Saturday viewings as well, but was happy to let them in midweek ( but not after 5pm) after they gave the rent concession. I do sympathise as I was also well p*ssed off, but unfortunately that comes with renting. If the LL is a good bloke then I recon you will be able to come to an agreement that suits both parties. If it is a good proper
  9. This happened to me about 2 years ago. Landlord put flat on property 2 weeks after I moved in! I was fuming as moved from previous property for same reason. Basically, legally, unless it is in your contract to show the property to buyers then the landlord has to get your agreement otherwise he can't show the property to potential buyers and will have to wait till your contract expires. Your rental agreement will say something about having to let him in for maintenance and to check the upkeep, but it doesn't mean he can show people round and therefore would be breaching contract if he did.
  10. I have recently moved to the Island and there is a huge oversupply of property for sale on the Isle of Man. 2010 sales are again down from 2009 and that was a very slow year. Flats – in short there are too many of them and with the annual maintenance charges etc buyers are really put off buying these. Flats sellers are really struggling to sell Houses in general are on the market at over inflated prices. Good priced property is selling the rest is just stagnant – Some property has been on the market for over 2 years with not a hope in selling. Also some property is soo overly priced I wou
  11. From what I hear, the housing market does appear to have held up OK but there has been a marginal decline in prices, with sellers having to accept offers to complete with a sale. The top end of the market is strong as those looking to protect their milllions but the lower to mid range is just stagnant. I have been following some IOM estate agents sites and there does appear to be a lot of property available. would anyone agree or disagree? Even if there is over supply I don't see prices going down much nor do I see them racing away in the next couple of years. Decent deposits are still req
  12. I went to UCL....and am disgusted Cambridge and Oxford nerds even think they can compete!! Mummy and Daddies boys!! p00fters!
  13. Does anyone have a template of a letter. I know it has to say "subject to contract". can you put a timescale on it for them to think about? Anyother important stuff that needs to be included. DONTDOITMAN
  14. Just to clarify as think there is a bit of confusion. House was valued at £350,000 in estate agents window, property Bee said it is reduced from £430,000. I put in offer of £250,000. Estate agents said seller wouldn't accept it for another 4-6 months. What I took from that was that if it doesn't sell in the spring bounce then they may consider the £250,000. I recon they would accept £325,000 in current market today, which would account for a 75K(c20%) drop in 6 months if we got it for £250,000. Will keep you all posted.
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