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mdt103

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Everything posted by mdt103

  1. An awful lot of money for a wee flat in Partick imo. Haven't been keeping up to date, but I'm sure I saw flats in Fergus Drive / Oban Drive goind for around this a few months back and in Hyndland for more like £150k i.e. you can probably get flat in a nicer place for same / similar money if you are intent on buying. There are some not great pubs pretty near that flat.
  2. mdt103

    Glasgow

    No doubt school catchment area an issue here - ditto re Jordanhill in the West. Imo.
  3. mdt103

    Glasgow

    I know someone who paid £60k circa 2004 for a one bedroom In Lochleven Road in 2004 needing modernisation, so £100k seems on high side.
  4. mdt103

    Glasgow

    It's also wrong side of Highburgh Road to be Dowanhill and is in Partick but let's ignore that.
  5. From the floor plan looks like a classic conversion to me. Kitchen would have been original bathroom. Back bedroom would have been the kitchen. Bathroom would have been an internal store. That's the best way to do them. The ones I don't like are when they retain the bathroom and do the internal galley kitchen. It's the same size as the Dudley / Airlie ones - I used to live in one exactly the same. Hence overvalued imo.
  6. Valuation might be a mite on the high side if you look at some recent selling prices for e.g. Dudley Drive / Airlie Street in Hyndland which are similar sized flats, but imo, in a bit nicer place.
  7. Bought in September (completed October) 1. Sold (fluked) at about 5% off peak in May 2008. 2. Was looking in a very narrow area (2 streets). Had dismissed the adjoining street I actually bought in as too expensive. 3. Bought at less than "offers over" price in West End of Glasgow. That was unheard of in an area where 30-50% over the "offers over" price was the peak norm. 4. Price was 40% discounted from peak (2007) price for exactly the same type of property elsewhere in street (well, 39.9 something percent). I envisaged buying later this year when I thought chunky drops would have started to bite, but when the chance came up thought "why not"? 5. Equivalent places currently advertised at about 10-15% off peak. Not selling. 6. T'lady wanted to do it. She was actually the one egging me on with the low offers. 7. Little chap needed more space. 8 Was not a wreck. Needed rejuvenated, but was eminently habitable from the outset. 9. I like it and wanted to live here. 10. I can see us staying here for 10-20 years. 11. Mortgage is 3x salary so hopefully have not been too stupid.
  8. 250k offer accepted on 416.5k peak in Sep 08 in Glasgow. Chance your arm and see what people say. The first few told me to get lost.
  9. mdt103

    Glasgow

    ^ All true. I think sentiment took a real turn for the worse between last summer and autumn. I sold in May (concluded in August) and that was 10% off peak. I think if it had gone much longer I would have taken a tanking.
  10. Peak was £416k for what seems to be a 3 bed from outside (autumn 2007). Latest 3 bed sale is £250k.
  11. Check the latest sold prices for the street.
  12. mdt103

    Glasgow

    Iceblink - where in Partick? I can think of nice big tenements near cricket pitch and also around White / Lawrence St, but other houses which were 230k in Partick are likely to be newbuilds - Hayburn St? Bottom of Byres Road?
  13. blobby Apologies for posting in open forum. You asked me to contact you a month or so ago. For some reason I cannot PM you. If you want to PM me I will see if I can reply.
  14. Don't mind at all - Glasgow, West End.
  15. The time purchases take to feed through into the figures and until sales are registered is a big factor. I fully expect to be jumped on, but I have just bought a place. I paid my mid-2009 target price. When I saw the comparables on the valuation report for the mortgage company, the price I have paid is 39% down on peak price paid in September 2007 in the same street. My purchase will become part of the Spring 2009 statistics. Things are falling hard and fast. Denial will last until these types of figures filter through and become known.
  16. mdt103

    Glasgow

    Still a big drop though.
  17. mdt103

    Glasgow

    Ouch. I think that's along near the high flats near the big roundabout so not really nice Newlands at all.
  18. I got grief above for agreeing with a 50% national drop, mentioning that I thought the area I'm buying in would only drop 40% therefore making buying at a 34% drop a not ridiculous move.
  19. Seemed like a reasonable discussion regarding degrees of bearishness and timing until I realised that espousing a position slightly more bearish than Roger Bootle now gives rise to accusation of being a hidden estate agent
  20. ok, according to nethouseprice two most recent flat sales in the same street are £369k and £390k from July 2008. Taking a median, that gives recent price (due to Scottish registration system these would be transactions done around April / May) of £379.5k. Price I'm paying is 66% of recent median. I didnt' want to start a debate about my particular situation, just to make the point that this represents a 34% drop on recent actuall prices in a good area and there are starting to be some reasonable deals around. None of what is happening atm will come out in statistics until next year. There is going to be a degree of fluidity around this. It will not be a matter of a decision to buy being entirely wrong one day and entirely correct the next day. I had set myself a target price of £250k for the type of property I wanted. I did not expect to be able to get it at this level until late spring / early summer of next year. I mentioned my bearish thoughts to colleagues and was told not to be so ridiculous, property never falls, far less in that area etc etc. It has just come about a lot quicker than I thought. A lot depends on position of seller and how keen they are to shift the place. Most will sit in denial for quite a few months more.
  21. Sorry, it is 3 bedrooms. Should have said.
  22. Turn of the century (19th/20th) place. Quite a bit bigger than your average 3 bedroom semi.
  23. Relationship with previous sale prices is the interesting thing. I'm in the process of buying a flat (Edwardian, not new build before you ask) for £250k which is the cheapest price paid in the street since 2003. The flat across the landing sold in Dec 06 for £345k, and some have sold in the same street last year for up to £380k. The deluded consensus amongst vendors still seems to be that flats in the street are going to fetch at least £350k and that giving £5k off represents a good deal. The surveyor's reaction when I told him was "Oh my God." I've bought at 30% or more below previous sale prices. An idiot? I think there will be some flats in the area that will sell for less what I am paying in due course. I'm assuming that prices may fall by up to 50% nationally from peak, but for various reasons (not just blind optimism) I do not think that the area I am buying in will fall by more than 40% from peak. However, it is exactly what I want and where I want. I know I'll be shot down here for doing this, but just wanted to make the point that there are starting to be a very small amount of good deals to be had out there.
  24. There is a far higher than usual proportion of fixed price property, very little of it appears to be moving and there are minor ongoing reductions (to no effect). This is based on my daily overview of what's happening in West End and nicer bits of South Side of Glasgow. IF you look at selected streets on nethouseprices, you can see that some people are starting to bite the bullet and sell - I have seen some larger West End flats that a year ago would have gone for around £330k selling for £280k or just above. That is all based on May/June registrations btw.
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