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FTBelfast

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About FTBelfast

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  1. FTBelfast

    Ea Tactics

    I have a silmar story - we made an offer on a house of £140K for a house on the market at £180k - it was refused and the EA phone us back to say that if you uped the offer to £170k they'ed push for a sale - needless to say we told them that £140k was our final offer. The house stayed on the market and my wife phone about it about 2 months later - asked if there where any offers on it and was told there had been none at all !!!! When she asked about our offer the EA paniced a bit and said Yes they did have our offer but that was a while back. EA's just lie, lie and lie some more - could they be reported for doing this? I would guess they could, but can anyone be bothered !!!
  2. Just looking for some opinions on what is an Average House in Northern Ireland. Loads of reports come out stating that the Average House Price is X amount (I think the last one I seen stated £203k), but what do they class as the average house? From what I can tell it’s a 3 bedroom Semi Detached. But this is a bit general – surly a 3 bed Semi in Belfast will be worth more than a 3 bed Semi in Strabane (no offence to Strabane). Is the average somewhere between these prices 3 bed Semi in Belfast will be above the average price and 3 bed Semi in Strabane will be below average. Anyone with information on what different institutions used to determine an Average House and then state what that the average house price is, would be helpful.
  3. Very interesting on the yield for renting to tenants on Housing benefit - this would have some impact on how low the housing market may fall (and quite possible set the bottom level) But I think you're mortgage costs are a little out - 90,000 - 13,500 (15% deposit) = £76,500 @ 5.89% over 25 years = £487.76 / month, £5,853.11 for the year For the figures your quoting the interest rate would need to be around 3.25% which may have been possible 5-6 years ago but not now. Still with the figures above the landlord would be about breaking even so if the market did drop to around this level then we may see more offers and sales to BTL investors.
  4. Now that Stamp Duty is exempt from properties costing 175k or less has anyone made any offers???? I know this isn't much of a saving (£1,750) but I was wondering is anyone considering offering this on a property that is currently on the market around the 200k+ and would the seller accept?? I currently keeping an eye on the price of properties and if any will reduce the asking price to just below the 175k market to try and get a sale. I know most posters on here expect the market to reduce further but surely there have to be sellers out there with properties worth 175k willing to accept.
  5. Three-way split on rate decision - http://news.bbc.co.uk/2/hi/business/7521032.stm
  6. Looks like a new 3 bed semi, somewhere in Northern Ireland. Could be worth anything or nothing depending on where it is located. If it's located on the Malone Road in Belfast (doubt it is) then I'll would probably be worth around 200k. If it's located on a clif edge with the sea eroding away the land between the house and the sea - then (as happened to a house in England) it's worth nothing (banks won't lend you any money to buy it). Hope this helps
  7. Although not surprising a hold in interest rates doesn't really have any affect on anything - basically the BoE have sat on there hands. I get the feeling the rest of the year will be the same - no change, base rate will stay at 5% I can't see anything that will force the BoE to increase or decrease the base rate - many people will be hoping on a decrease but I think the BoE is trying to play the long game and hope that everything levels itself out. We're in for a bumpy 12-18 months me thinks!!!!
  8. Interesting to see that no one as of yet has gone for a cut (apart from some dangling legs - and within minutes the legs have crossed over to rise!!!). I do think the BoE is really between a 'Rock and a very Hard place' but whatever they don't see much change in the forth coming months - house prices will continue to fall and jobs will go (particularly anything linked to construction and retail) On a side note getting a mortgage is not getting any easier - has there been any money lender relaxing there position on lending money and are realistic on what a person can afford? Are there any mortgages available with an APR of 5.5% or there abouts for a LTV of 90% or even 80%. I remember getting a mortgage in 2003 with an APR of 4.5% - them were the days!!!!!
  9. The Bank of England has an interesting decision to make tomorrow. With inflation rising because of the price of food and oil an increase in the base rate would look the most likely. But with house prices falling, job losses and serious pressure on the retail market can the BoE let these get worse even though a base rate rise will probably have no affect on the soaring price of food and oil? By prediction is that they will increase the base rate to 5.25% and things will get worse for home sellers and people on the breadline. Agree - Disagree what do you think?????
  10. I think rate value is a good guide - some properties will even in the current market be worth slightly more than the rate value but these will be the ones that the area has improve since 2005 - or have luckily become more desirable because of good local schools or improved commuter routes. GetDoom - the houes in BT9 is quite interesting, I love the comment 'In need of slight modernisation' and then no internal pictures. But I agree provided it is Slight Modernisation, I too would be interest at the rates value. Not that I'm trying to start a bidding War!!! (those days are over) but there are buyers out there the price is the problem with houses not selling !!!
  11. Was talking to an Estate Agent in South Belfast (one of the very few that seems to understand the market) I've been looking at a number of house that he has on the market and when he asks me if I want to put in an offer I've stated that I didn't want to waste both our times putting in a silly offer of 50k below the asking price - he tells me that in the current climate there isn't such a thing as a silly offer. In his dealings there have been a number of offers but to venders 40-50k below asking, none of these have been accepted, but he did say that in the last veiw months offers 25-30k below asking have been accepted on house with an asking price around 200k - he went on to say that there hasn't bee much activity in the market so there may have only been 2-3 properties sold in the last 2 months.
  12. Thanks for the comments - I'm in agreement as well, we're currently going to sit it out and see what happens. From what I've read on various websites it looks like EA are still reluctant to reduce prices. Indeed in my own experience one house that I viewed which (in my opinion) need a lot of work (had been rented out) was on the market for £205k - I stated to the EA that about £20k would need to be spent on the property before I'd be prepared to move in - which got the reply that the seller knew this and the property had been priced accordingly. The EA then had the never to tell me they had reduced the price on lots of properties but this didn't help we getting buyers so 'they' as an EA had decided not to reduce anymore prices as this wasn't attracting more buyers!!! could hardly believe my ears. This all happened in about a 10-15 minute viewing of one house - we left with the EA in no doubt that an offer wasn't going to be put on the market. The view happened in late April 08, so it was not as if he didn't know there was a credit crunch - and currently that property that was on for £205k is now on for £185k - and not 2 month before I'd be assured that the price wasn't going to be dropped. I've been out to view other properties with the same EA and he was more helpful on these occasions - they keep telling us that the house we're viewing has been price for the current climate - I don't think they realize that they have a website that we've been keeping an eye on and have seen no price change since late 07. I feel I'm starting to rank a bit and as you can guess I'm no big fan of EA - could go on but not sure who would want to read it !!!
  13. I've currently moved to befast and am looking to buy a property in the S/Belfast area, we've been looking around the Finaghy area and have view a number of house in Erinvale (there are quite a few on the market at the minute). We're looking for a Semi or End Terrace 3 bedroom, off-street parking and a garden. There are a few on the market that match this but what are they worth in the current market.
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