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south_side_sceptic

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About south_side_sceptic

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  1. south_side_sceptic

    Advise - New Property - Glasgow City Centre

    Ok I realise everyone has different tastes and preferences but I cannot understand why you would want to pay that much for a 1 bed. 2 things, aside from the very obvious issue about price, I would suggest you give serious consideration to- 1. Build quality - friends of mine recently moved into a "penthouse" in a new build development in the South Side. Rent is heehaw and it's brand new so it works great for them. However, my old boy is a surveyor and was happy to state the properties won't still be there in 25 years given the poor quality of build. 2. Have you considered who your neighbours will be? My friend is studying and works part time. He is not loaded but the rent is low enough for him to live in this "penthouse". The vasy majority of flats are empty and across from them in another "penthouse" every night is party night. On one occassion they witnessed someone having a slash off the juliet balcony. A number of these developments are struggling (understatement). Means parking will be easy but you might find that you have students (or worse) living next door to you. The factor might not bother spending any money on it since they aren't getting anything in (see the Morrison Street disaster). As a general point I can't understand for the life of me why someone (who I assume has a bit of cash given the numbers you mentioned) would entertain the notion of living in a new build property in a city blessed with some of the fantastic buildings Glasgow has.
  2. south_side_sceptic

    Home Report Survey Value

    Offers over seems pretty much to have disappeared. Things are either "offers around" or "in the region of" - this will either be a touch below survey value or dead on. Alternatively it will be fixed price - this seems to be either exactly or above the survey value
  3. south_side_sceptic

    Home Report Survey Value

    I was wondering what peoples views were about the survey value in the home report? The last two flats I've been interested in the vendor has wanted more than this value. I can't get my head round this and in one instance I offered the survey value but was turned down! Given the value is often a few months out of date and by the time you complete may be say 6 months out of date what is driving this madness? Even the estate agents seem to agree with me they vendors are out of order. Is this purely a hangover from the offers over system with the expectation you should "offer a little more to make sure you get it" still being stuck in people's heads?
  4. south_side_sceptic

    Glasgow

    Do you think estate agents pay attention to sites like this or the feedback they get from people like us? Are theyu totally detatched from reality? Seriously there seem loads of people on here interested in buying if the price is fair. Instead we're getting fixed price over the HR valuation! Can't they see a greater volume of transactions benefits them?
  5. south_side_sceptic

    Glasgow

    Mate the closing game is a nonsense. I've lost out twice recently and my emphasising finance was in place and that I wasn't in a chain didn't seem very relevant. People are greedy and even for the sake of a couple of K will go with the higher bid. Offered on somewhere a couple of weeks back. Offered them the survey price but got told it was going to close. They called me yesterday to say close is tomorrow. Frankly they can go f#ck themselves if they think in the current climate they deserve any more than the survey. There's clearly more of an immediate need in your case but I would say stick to your guns on what you offer and don't allow yourself to get dragged up.
  6. south_side_sceptic

    Glasgow

    I offered a little over the odds but it was a stunning flat and I wanted it. There will come a point for me when the potential for another 10% off prices is less important than getting somewhere I fell I will be happy living for 5 years or so. You're right it ain't the end of the world. What depressed me though was that somebody bid so high. All this talk of people coming back into the market makes me worry the irrationality of people (yes including me to a lesser extent) is returning big style and we're going to have any further falls delayed.
  7. south_side_sceptic

    Glasgow

    Missed out on a 3 bed tennement in Dennistoun yesterday. Pissed off. I offered above the survey price of £130k but still didn't get close. It apparently went for over 10% above the survey value Don't know if people are buying into this "green shoots" hype or I'm just coming up against a lot of competition on the types of property that interest me
  8. south_side_sceptic

    Dennistoun

    Go to www.nethouseprices.com mate. Be careful though that you are comparing like with like e.g. many streets in Glasgow have different types of flat on the same street and even in the same block a corner flat will be the most expensive. Southside and West End are my preference. That said Dennistoun has some amazing properties and some really nice little pockets. The Merchants (from the nearby Merchant City) were the intended inhabitants and initally were. The building of factories changed the area and the middle classes headed West/South and out the city. The legacy is some fantastic flats and houses, while the area is (slowly) improving. The Commonwealth Games in 2012 can also only be a positive. There endeth the history lecture. Don't write it off entirely though.
  9. south_side_sceptic

    Dennistoun

    If anyone is interested this is the flat that really got my attention - link They have had 5 notes of interest but no offer. Going to close. Having seen it I really like the flat but given peak for the street is £168k in June 08 (which I'd assume was in good condition) and this needs everything done (kitchen, bathroom, central heating installed, rewired) I can't see how paying anything round the £130k mark works.
  10. south_side_sceptic

    First Time Buyers Account Of Current Goings On

    Good post matey. I think you've hit the nail on the head regarding expectations. Like you I've saved hard (you can see the penny drop when discussing the housing market with friends/family as to how much when I tell them 25% deposits aren't a problem and no I'm not going to Bank of Mum & Dad) and I also earn a good wage. I'm not prepared to live in a crappy new build with the kitchen bolted onto the back wall of my lounge. Stick to your guns mate. You've called it correct so far and even if, as we suspect prices, don't fall more than 10% from where we are we'll still be winners out all this. I'm still looking and if the right property comes along will bid. If it takes 3 months or 3 years I'll still have a better outcome than if I'd bought into the HPI mania of the last 5 years.
  11. south_side_sceptic

    Dennistoun

    Thanks for the info. From people I've spoken to those who don't know the Dennistoun all go "Dennistoun? The East End? Why?" and those who do instantly recognise the street and are full of praise for the immediate area. It's a big old chunk of tennement that I'm interested in. It also fits my criteria of needing done up. I went for a quick look round the immediate area at the weekend and my first impression was the streets near by were great, lovely buildings, well maintained, nice front gardens and a good quality of car sat outside. But, my overall impression of the Dennistoun as a whole is that there are nice pockets in amongst at best an average area. I'm hopefully going to view the flat this week and if I can get comfortable there is a pub, decent cafe (I stopped at Coias and hear Tibo is good) and shops in walking distance then I may put in a cheeky bid.
  12. south_side_sceptic

    Dennistoun

    Been having a look round the GSPC and come across a few properties that interest me out East. What are the views on Dennistoun in general and in particular the streets round Alexandra Park? What's the area like for bars, cafes etc?
  13. south_side_sceptic

    First Time Buyers Account Of Current Goings On

    Only just found this thread. Most interesting. This is possibly a bit Scotland specific but here is my experience from the last 18 months or so- December 2007 After the end of a long term relationship and, having seen the writing on the wall for the economy, I decide the "glamour" of City life was no longer for me so I washed up back in Glasgow. Everyone and their aunt assumed I would buy myself a flat within 5 minutes of arriving. If informed prices would soon be heading downwards I was met with the mantra "Scotland is different". February 2008 I started looking and view around a dozen properties around the South Side of Glasgow. This does involve signing up with estate agents who as we all know are determined to show you new builds when you specifiy only old tenements, who clog your inbox with emails on properties above your budget and who generally know the square root of f#ck all about f#ck all. However, this did allow me to understand the standard lay out of a Glasgow tenement and get familiar with how "developers" are able to "add value" by moving walls, installing MFI kitchens, removing period features and generally vandalising every available square foot with laminate flooring. I offer on the first flat that significantly interests me. I offer 12% above the offers over price. In my view anything below the standard 20% above was a win for me and this was a starting negotiation point. EA tells me this is "ridiculous" (she knew my budget/deposit so I think as stated above she was at it) and that the vendors are looking for 25% over. I tell her that is nice but she should put my offer to them. The greedy bar stewards come back saying actually they want 30% over. I tell the EA to inform the vendor they need to get real and if they do call me back. Imagine my surprise 6 months later when she calls out of the blue to see if I'm still looking to buy somewhere. Times getting tough love? April 2008 I offered on another property. They massively low balled on the offers over price to drum up interest. Fair play it worked. I offered 30% above the offers over price (and a few thousand above what it had surveyed at). I lost and my solicitor was informed that I "wasn't even at the races". A few months later I discovered it went for 49% above the offers over. Those people made an instant loss the moment they bought and must be tens of thousands down now. Having encountered greedy vendors, ignorant EAs and mug buyers for competition I decided to bow out the rapidly declining property market. I do nothing but watch prices on line and am pleased to see that though less notable than the UK average Scotland is not in fact "different". Who'd have thought? May 2009 Returning from a month's flashpacking (the recession does have some advantages in terms of time off work) I stumble across a flat that ticks all my boxes and, even allowing for a lot of internal work, could be bought and still have a bit of a cushion against inevitable further price falls. I miss out again on it going to close. For the first time I am actually annoyed at not getting a property. Conclusion You do need to see a variety of properties and put up with a degree of EA's nonsense to focus on what you like Coming on this site has kept me sane (probably apply that to the last 5 years as it provided me with some evidence I wasn't a freak or in danger of being "left behind") The financial climate is night and day from when I initially thought of looking. The need for a minimum deposit of 20% for a mortgage can only have a deflationary impact on prices as can the glut of new build tat sitting empty in Glasgow (and any other major city for that matter) The bottom line though is that I now know exactly the type, condition and location of flat I want. I also know that even if prices only fall for another 6 months they will then be stagnant for a few years - there is no rush and, provided like me you are in the fortunate/prudent position of being able to go to a 25% mortgage, then it is a great moment to be a first time buyer. I've also been living in the most fantastic rented flat which I will be very sorry to leave one day By waiting 18 months I know that I will now buy a 2 bed rather than a 1 bed, it will be in a better street, have bigger rooms and I will be paying less. People talk about all sorts of huge % falls on this site but that alone is good enough for me
  14. south_side_sceptic

    Glasgow

    It's gone up in recent times but don't think it is any more than £2.50. If I remember I'll take a mental note when I pass it tomorrow.
  15. south_side_sceptic

    Going To Close

    I just think it has taken everyone so long to accept that, gasp, prices in Scotland have actually fallen. 18 months back people were saying it'd never happen. Now they're saying things have hit the bottom and they'll rise again. Ask them why and they have no answer. All this does is ensure the stand off will continue between sellers and buyers a while yet. There will be no positive change to the fundamentals of the mortgage market or to the employment situation in the next few years. The bounce everyone is talking up will be gone by the end of the summer and things will slide again.
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