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Everything posted by midnight_caller

  1. In a word: insane. Don't touch with a barge-pole. I wouldn't even dignify these vendors/agents by arranging a viewing. I've given up the chase of buying; I've found a 4 bed flat in the heart of the west end of Glasgow to rent for just over £600 (former HMO that's had its licence revoked). Bigger than anything I could afford to buy. Why bother buying anyway? You'll still be a tenant, with the Bank being your landlord. AVOID AVOID AVOID
  2. You are of course correct. If I liked it I would be looking to offer approx £115k for it. The pain in the @r$e is that, unless the seller is needing a quick sale, they're not going to entertain such an offer... and sadly this attitude doesn't look like changing anytime soon. I think that any offer I may submit to the scumbag EA should be accompanied by some chat on my financial standing and letting them know I'm not in a chain.
  3. Okay, so I've stumbled across a 1 bed flat in Novar Drive that's on at "guide price" £130k. Good condition, traditional 1 bed with original kitchen (not the shoddy converted kitchen with no windows). I'm viewing it this weekend and may think about taking the leap (at a sensible price, of course). Question 1: am I mad? Question 2: I'm assuming "guide price" means the same as "offers over" these days? If so, what do you reckon is a decent offer to put in? MC
  4. Office for National Statistics, release 12 August 2009
  5. I'm nearing 30 and have yet to buy my first place. I have enough to buy now, but I'm conscious that my employment status for the foreseeable future isn't certain, so I'd be insane to buy. Coupled with the still extortionate price of property these days, I'm in no hurry to part with my cash. I'll wait until I pay off my only loan (I've got about £3k left on that, which will take another year) before I even think of looking at the market. I'm looking for salary multipliers re: house prices to settle back to 3.5
  6. Can anyone tell me how much is a decent price for a 1 bed flat in the Southside (Cartvale Road) that needs modernisation (ie., new kitchen and bog)? My friend's just bought one for £100k and I think it's a rip-off
  7. EAs will usually distance themselves from answering that question directly - they will point you in the direction of the seller's solicitor and ask you to go through the usual diligence procedures in negotiating missives. Standard wording in an offer to purchase would give you plenty of 'get-out' clauses should one of the property searches/coal mining report/property enquiry certificate disclose an entry materially adverse to the purchaser's interest in the property. In the current climate, where bartering is expected, I'd advise renegotiation, but this would of course depend largely on the problem identified.
  8. A really useful précis on the truth behind the spin - thanks, Cozza. I've taken the liberty of posting the unemployment/HP graph on the "Post Your Favourite Chart" thread.
  9. Thanks for that. I'm mindful to keep positive and just accept that I'm going to have to swallow the usual corporate shit sandwich.
  10. Thanks, everyone, for responding. I'm very low in the hierarchy, so my bargaining power is restricted. However I am useful in that my charge-out rate to clients is accordingly very low. I can do the work at a reduced cost, and I'm the only person of my level left in Scotland (the rest having been made redundant). I think my best bet is to eat humble pie and accept the cut.
  11. I'm due to have a group discussion with my bosses about a pay cut that's been proposed, and am looking for some advice on how to (tactfully) approach this. My department is the only one targeted for the pay cut, having been subjected to several redundancy procedures and a previous pay cut in the recent past. Other departments are undergoing redundancy at the moment, but trail in our wake. Pointers/advice would be helpful, as I don't want to give my employers an excuse to give me the chop in the near future!
  12. My salary is extremely modest, so a 30% cut is a bit of a killer. Thankfully I'm only repaying a loan I took out for graduate tuiton fees a number of years ago, and I should be able to have that paid off within a year. Had I "invested" in a property, I don't know what I'd do. I've been lucky - surviving 2 redundancy procedures in the past 8 months. My sector (legal) is one of the vanguard taking the brunt of the financial downturn, so there are absolutely no other jobs out there. I'm clinging to my job for dear life!
  13. I remember seeing this graph alongside another showing actual house price figures - with the two overlapping almost perfectly. Can anyone direct me to the other graph? Thanks
  14. Absolutely. Being a potential FTB who has gone from working full-time to now 3.5 day weeks, I'm not going to touch the property market until such time as I'm back to full pay (which may never occur) and house prices fall dramatically. The "green shoots" bile that's churned out by the media every other day is sickening. Miles Shipside should be held accountable for lying through his teeth.
  15. Thanks for the information, curious1. That's an awful lot to pay for a 1 bed flat in the west end. Whomever bought it at £172k deserves the inevitable negative equity that's coming to them. I've gone off the idea of the Airlie Street area - the flats are pretty much devoid of character. They're all much the same - the only variation being the converted interior kitchen. Having seen some other properties in the west end, I don't think I'd be tempted to live off Clarence Drive unless it was a really substantial property. Can anyone recommend a non GSPC listed estate agency? Thanks
  16. Not unexpectedly, my firm (solicitors) have just announced that they're cutting 20 people from Banking and Commercial Property. I've already survived 2 redundancy procedures in the past 6 months and am working 4 day weeks. Can't say I'm shocked at the figures released today. What are the estimates for the end of year? 3.5m unemployed?
  17. Still no seismic shifts in the Glasgow west end property market. The delusion remains... For example, this small conversion on Huntley Gardens is on the market at fixed price £145k, despite the exterior looking utterly run-down and the bedroom being horribly pokey. If sellers/estate agents still believe that 1 bedroom flats are expected to fetch around £150k, they're mistaken. It just seems that they're utterly oblivious to reality. What, if anything, will provide the reality check they need?
  18. Saw this 1 bed flat on Elie Street, Dowanhill on the market for o/o £99,995. The Home Report valuation is £125k. The property requires modernisation throughout, and of course the school directly across the road will be demolished before the end of 2010. Still grossly over-valued, all factors considered.
  19. MURRAY COULD SERVE UP PROPERTY MARKET RECOVERY The fate of the property market could rest on the shoulders of Scots tennis star Andy Murray, according to a new study which shows that sporting success is a clear indicator of house prices. The report, by estate agency Rettie and Co points to several historic sporting achievements are their relationship with housing market performance. The pattern, until now missed by economic experts, shows a clear relationship between sporting success and failure and housing market peaks and troughs. The property company's weekly market report on the worldwide property market suggests reasons for real optimism should British number one Murray triumph at Wimbledon. Rettie and Co. researcher Andrew Meehan said: "In 1934 Fred Perry, the last British player to win at Wimbledon won his first title and this was also the year during the Great Depression when house prices hit their nadir, having dropped 15 per cent in value. "In-depth historic economic analysis shows that after Fred Perry's first victory in 1934 the housing market saw a 2.9 per cent annual increase by 1935, and after his second win there was a 3.7 per cent annual increase. "This year also saw a British woman, Dorothy Round, takes the ladies championship. "This relationship between the market nadir and a dual British victory, while disturbing, have a potential upside - with Rafael Nadal out of the running at this year's Wimbledon, housing market improvement is looking ever more hopeful. "This suggests a pattern that has, until now, been missed by mainstream economic analysis - British sporting success as an indicator of housing market downturn." While Mr Meehan agreed economic forecasting by tennis results alone is not to be relied upon, his research has also uncovered some other irrefutable correlations between British sporting success and housing market performance. He said: "If you consider the 1990's housing market hit its lowest point in the last quarter of 1992, the year Nigel Mansell was crowned F1 Champion for the first time, I am sure you will agree the evidence starts to become irrefutable that British sporting success equals house market turmoil." The home nations' failure to qualify for last year's European football championships also coincided with the beginning of the credit crunch. However, Mr Meehan added: "On the upside, the success of Lewis Hamilton last year and Jenson Button's strong form this year must confirm the fact we are reaching the base of this economic slump and can look forward to market improvement. "To those property buyers or sellers currently considering their options this summer I would recommend watching the results of Messer's Button and Murray very closely. "Historic economic analysis conclusively proves that with every victory we are getting closer to market recovery." edited by Mod to provide link http://www.insidehousing.co.uk/story.aspx?storycode=6505265
  20. It is a proper 2 bed, which is probably why the valuation is high, however you're right - the area is a bit run-down... and the block is 90% student lets. Also, there's no security door from the back garden and the stonework shows signs of water damage. All things considered, I would've though a valuation of around £150k would've been reasonable just now, but never £170k. Can anyone recommend property agencies that are not part of the GSPC? Reading S1homes.com, Rightmove and GSPC gets monotonous after a while.
  21. Here's another current listing that harks back to the halcyon days of "offers over" madness: 2 bed, Havelock Street, Glasgow on at: offers over £139k valued at: £170k Ho hum.
  22. Good point, snickers. There's a sinking feeling whenever I enquire about a property without Home Report advertised, as I just know that the seller will be one of the infamous West end ostriches, resistant to moving on their unrealistic expectations. The bottom-feeders at Clyde Property now advise that Home Reports for their properties can be downloaded from OneSurvey.org - but at cost. Farcical. Seems like everyone's out to squeeze money from Joe Public.
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