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sell low buy hi

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About sell low buy hi

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    HPC Newbie
  1. I was sent details of this house...http://www.rightmove.co.uk/property-for-sale/property-38351552.html one month ago. I was mildly interested but saw there had been an offer of 102K! Now its up to 105. What the hell is going on? It's like an auction and people are prepared to pay way over asking price. This is the 3rd one I've seengo way over asking price from the same Estate Agent.
  2. This is the worst thread I've read on the forum in the 5 years I've followed it. HPC has been devalued by it. The lady involved has come out with dignity after horrible personal attacks and good luck to her and the purchase. But, do offer at least 20k less IMO.
  3. I've just put in an offer on a house at 22 per cent off peak price and its been accepted! I'm very tempted to go for it. I'm in the West Midlands and it seems there are people here who need to sell. Its only the S.E. thats keeping HPI afloat.
  4. Yeah it's a life of milk and honey as a boomer! Until I was 11 we had an outside toilet and bathed in the kitchen sink with water warmed up from a ketttle. Ice on the inside windows in winter as central heating was an impossible expense. Secondhand toys and clothes. Lucky to get one holiday a year to Yarmouth in crap caravan. No pocket money, so I had to do an early morning paperround at 13. Uni! No chance, parents couldn't afford it. No foreign travel 'till my late 20's. Owned a motorbike (couldn't afford to run a car). Scrapped together a deposit for a one bedroom starter home (in my late 20's), Repayments 40pc of our combined income. And we were lucky! I think I had a wonderful childhood. My parents had a much harder time of it growing up. The boomers you're blaming for causing this situation are going to pay for it in the next few years anyway. But it's not all of us.
  5. I'd be worried if I had a large mortgage now. At 0.5pc IR, most mortgages are 4, 5, 6pc. With the recession ending!!! IR going up to a modest 2 or 3pc could take mortgages to 7, 8 or 9pc. When I got my first mortgage 25 years ago, I was paying 11pc IR while a bank worker friend was paying 7pc. Don't think that mortgage rates won't rise when the Bof E IR rise, the banks need all the profit they can make to survive the cr@p that's coming!
  6. 10 of us (middle aged middle class) at a dinner party this week, I did a quick survey as towards our views on house prices. A staggering 7/10 thought prices are going to crash, quoting VI media ramping idiots for recent rises. 2 estate agents I spoke to last week told me that they wished the media would shut up so their customers wouldn't expect higher than market value prices! The only property they can sell (I'm in Herefordshire) are ones that are priced correctly around 10-15pc off peak.
  7. Wait for early signs of an IR rise. Then you'll have 2 or 3 months before prices start to drop, giving you plenty of time to sell to some sucker!
  8. I'm a neither but I'll be changing to bear as soon as there is evidence of IR rise. We're in the middle of a plastic bubble which is harder to pop but there seems to be no end to the stupidity of people who are again pushing themselves into massive mortgage debt. When it does go pop the reults will be much more devistating than they were last year /earlier this year. It will happen quickly too. No doubt these clever people will spout the lines.." never saw that coming/ no one could have predicted that!!"
  9. I MO the most important thing your friend should do before even concidering a house purchase, is get a pre-nup sorted out with his GF and then see if she's still so keen to buy.
  10. You are panicing at the 1200 pounds mortgage. Where do you think IR will be in 2 years time? How many other 'boat missers' are doing this now hoping!! that interest rates won't rise? Row with care.
  11. Why the confusion for these bankers? Diluting the Pound with QE was bound to weaken it against other currencys!
  12. Good answer. You could also put the 200k in a bond for a year, by then the 200k house could be worth 170k and you'll be 'quids in'. Money is real and has true value when its been earned and saved, as apposed to pretend borrowed money. Don't waste it.
  13. I've found that sellers have become unrealisticley bullish in the last couple of months and are holding out for close to asking prices. I think you'll be wasting your time trying to get a good price right now. Wait another 6 months at least. I am!
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