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Pie Eater

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Everything posted by Pie Eater

  1. I don't think there's anything sinister going on. We bought a house in 2005 and it never showed up on the house price websites. We sold it last year, and again, the sale has not shown up on the websites. God knows why, but it must just happen from time to time. We used the same solicitors in both cases - maybe something to do with the conveyancing process?
  2. Is it really relevant that's he's an FTB vis a vis the amount he borrows? More relevant what his salary is surely? Many FTBs earn low wages as they are typically starting out in their career, so generally we can say FTBs should borrow less then other buyers. However, given this individual's salary, he is not a typical FTB, therefore the fact he is an FTB is not relevant.
  3. TBH, we are going into this expecting prices to fall further by maybe another 10% (which we are comfortable with as we have already gained by not buying immediately after selling 8 months ago) although the less the better obviously. I just can't see falls of a much greater magnitude than this materialising, although I recognise I could be totally wrong. I'm so sick of renting!!
  4. Unfortunately I'm not comfortable posting a link. Yes, we earn more than some people in the town, and less than others. The point is, we can now afford the type of house that I believe we shoud be able to afford at 2.5x our salary (following the 23% drop). It then follows that if there was a 23% drop across the board in the town (and we are getting there according to PB), then there would be houses at all price points affordable to low, average and high earners. For example, it is now possible to buy a 1 bed flat or 2 bed terrace in the town for £45-60k - affordable for a couple with a joint income of £20-25kpa. It has been argued on this site that home ownership is a privilege, not a right, and as such, anyone earning below this (very low wage) should probably be renting anyway. Just my thoughts.
  5. Me and my husband live in a northern working class town. We both earn above the national average wage, combined income of £70k ish. We have found a good sized, 4 bed detached house in a nice area of the town, backing onto woods/fields. This house is perfect for us, and best of all, with a 15% depsoit we would only need to borrow 2.5x our income to purchase it, which is pretty standard by historical standards I believe. This house is priced at c. 23% off peak. So...does this house have much further to fall, or is it possible that our town doesn't have as far to fall as, say, London on the basis that maybe it hasn't seen the same kind of growth over recent years?
  6. Hi Midnight Rider, Out of interest, is it possible to train as a social worker whilst keeping one's current full time job? I earn similar money at the moment, but am uninspired by my job. I think I might enjoy Social Work, but have never really looked into it, as I had always assumed it was low paid. I'd never be able to fund myself through 2-3 years of full-time education though. Thanks
  7. Surely it's all down to region, condition, area, etc so it's difficult to specify what an average house is. The fact is, it will be those houses that are now currently valued at the current average price (c. £160k) that come down to the new average price. This may include say, some 1930s semis, some 1 bed flats, some terraces, some 4 bed detached, etc - wholly dependent on the variables above.
  8. Just done a quick search on Rightmove and that agent has only 5 our of the 72 new listings in the last 14 days. Seems low to me, as I would have said they were one of the most popular agents. Perhaps they are giving a similar message to other sellers, causing them to list with other less honest/informed agents?
  9. Interesting, I'm sure you have said previously that you are in the same town as me. By Mr B&B I presume you are referring to one of our local agents, so it's good to know that they at least (if not others) are being realistic. (I used to have a Saturday job with them incidentally!) Which area in particular are your parents in, as that sounds like a hell of a drop from an already low-ish price? Seeing some 20% drops in the ares I'm looking in, nothing more than that at this stage, but finding it really difficult to gauge whether new listings are priced in line with the drops already seen or whether agents are still pricing at 2007 levels (without the house nos it's difficult to check sold prices.) I noticed the BBC recently reported our town as the 3rd best performing in terms of house prices, apparently only having dropped 1.9% in 12 months. Anecdotally I can confirm the BBC stats are not a reflection of reality.
  10. Yes but let's be fair, you are offering on a house that needs a major amount of work doing to it, whereas my offer was on a house that has been refurbed to a high standard already. Although I agree that 20% may not cover the total slump, my opinion is that not all properties will fall by the same amount - renovation jobs always fall by more, relatively, than comparable 'finished' properties.
  11. Offer declined. They "can't afford" to take any less than a sum which is just 7-8% down from advertised price.
  12. I'm putting an offer in tomorrow, 20% off advertised price, think it came on market 6 months ago, so poss more than 20% off peak, depending on how realistic the agents were when first setting the price. No comparable sales nearby unfortunately. We shall see how it is viewed!!!
  13. Are 20-25% off offers being accepted at the moment? Any views?
  14. I hear what everyone is saying, and agree that lenders requiring higher deposits is a positive thing. However, try not to be so harsh on FTBs who are saving for their first deposit now. As is the point of this site, a 10% deposit is much more difficult to achieve these days than it was for first time buyers, say 8 years ago, given the rate at which HPI has outstripped wage inflation. Hopefully, this will correct itself in time.
  15. But he IS too old for a flat. I really don’t understand why FTB = flat/small house. The reason flats are associated with FTBs is that historically many FTBs are on small wages relative to what they may earn later in their lives due to their young age. They then later trade up to bigger and better properties as they get older and their earning power increases. However, if an FTB is in their 30s and not just starting out career-wise then there is no real reason why they should necessarily start off on the first rung of the ladder, surely! As long as they can afford a sensible deposit (5-10%) and their salary can support the mortgage payments, then of course an FTB can look at semi-detached and detached properties. If the point you are making is that your friend is not disciplined enough to save for a deposit even on his good wage so cannot be responsible for a mortgage, then I can go along with this. It's just the implication that ALL FTBs should start out small that annoys me a bit.
  16. Pie Eater

    Child Care

    Sounds a bit like us with our dogs, somehow went from 1 to 3 seamlessly (see avatar!)* I always said I'd have my first at 30, give or take a year, and I'm still comfortable with that idea. Good luck with your friend and the egg donation. *Hubby works shifts so they are rarely left alone (this to satisfy anyone who might take exception to dog ownership by the employed as I have seen happen on other forums)
  17. Pie Eater

    Child Care

    OK, hang on a minute now. I'm not really clear on what is so wrong with wanting to make sure that I can provide a financially stable environment in which to bring up my children when I choose to have them. I'm only 27, so don't particularly feel ready for children yet anyway, regardless of my domestic situation, so it's easy for me to vaguely say I'm waiting until a time in the future when everything's clearer. I guess I always just assumed that we would be settled in our long term home with a good idea of the associated outgoings before having our first child. If I get seriously broody before we buy, then maybe I'll have to revisit my long-held assumptions. And in terms of moving up the ladder, we have already bought and sold our first 'starter' home - a two bed terrace with the original intention of working our way up the ladder, but the economic climate has put paid to that for now, so don't imagine that I am one of these FTBs with an overdeveloped sense of entitlement prepared to skint myself in order to skip the bottom rungs of the ladder. Sorry to the OP, bit off topic…
  18. Pie Eater

    Child Care

    Wow, quite extraordinary when I think of some of the posts that I'm up against!!
  19. Pie Eater

    Child Care

    Yes, I'm sure that's true. One of the reasons I don't have kids yet is because we're postponing it until that magical day when we are settled into our forever home and have enjoyed a couple of nice hols...
  20. Pie Eater

    Child Care

    OK go on then, I’ll humour you! Firstly, I agree that mothers should concentrate on their natural duties and bring up their children properly, but I believe the same applies to both parents. Not sure why it necessarily has to be the mum who stays at home, both parens play an important role in bringing up their children. I don’t have children but I would love nothing more when I do to be a stay at home mum. Unfortunately for me, I was born with the wish to live in a nice house and take a nice holiday every year when I grew up and it was obvious from an early age that the achievement of those simple goals would require a dual income household. I now find myself in a position where my husband and I are in our mid 20s and earn a reasonable amount between us (£60-70kpa). We’re not rich or well off by any means, but we should be comfortable. Unfortunately because of the frustrating HPI we’ve seen, my dream of a nice house and nice holidays remains a dream for now. (And we only live in Wigan!) But I digress…! The point is, I earn over 50% of our household income, as do many other women I know, and probably so do many of the women on HPC, so I do resent the tone of your post which seems to suggest that we ‘little ladies’ are playing at a man’s game and are out of our depth. However, I’m fairly certain your comments were made tongue in cheek and mainly to provoke a response, so I’ll leave it there, and here is your response!! (Incidentally I do agree that children not being brought up properly is one of the main causes of many of the issues that we face in Britain today. I would argue however that it is those families with no working parents rather than both parents working that are causing the problems).
  21. Speaking of Property Bee, can anyone explain why it doesn't work for me any more now that the new version of Rightmove has gone live. Do I need to re-install it?
  22. I am female. My husband and I STRd a few months back. Yes, women can have a nesting instinct, but so can some men. My husband is the one who feels the need to buy again more urgently. I would really REALLY love a house of my own once again, but am level-headed enough not to let my heart rule my head. I won’t risk buying too early and missing out on possibly the greatest opportunity we’ve ever had. I am no economist, and therefore find this site very useful and informative in helping me to gauge whether it’s the time to buy (or not). Yes some posters' views on women are a little bit misguided. There are women who are shallow, dense, emotional, dependent, but there are many women who are not. Similarly, the same could be said for men. Stereotypes can be useful, amusing, comforting even - but are often wildly inaccurate.
  23. In my experience (very limited - STR 3 months ago, never rented before) about 20% of landlords will consider pets. I drew up a huge list of houses that I was interested in viewing, then called each letting agent and explained that we had three dogs and understood that this would limit the extent to which we had free choice from the properties available. We then ran through the list and arranged viewings on the properties where pets were permitted. In the end we viewed approx 10 properties, and amazingly ended up in a shiny new build on the condition only that we get the carpets cleaned at the end of our tenancy. So, unless things are different where you are, you should be ok.
  24. Compton mo' fo' my hubbie is a paramedic, it's quite annoying having to plan Xmas around his shifts!! Meanwhile I work for a really big defence company, but we always pay for (and arrange) our Xmas do - maybe I should have a word!!
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