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House Price Crash Forum


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About TylerDurden

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  1. Let you go?? The petrol station employee has no way of keeping you there. It's happened twice to me. Once I just forgot to pay, had a call from the local policeman telling me to get my ass back there to clear things up. Popped round, had a giggle with the staff about it and settled up. The other time I'd driven from Cardiff to Manchester then realised as my fuel light came on that id left my wallet at home. I was heading off for a weekend with some friends and was so furious with myself and situation. Id heard about them sometimes asking for your phone or watch and didn't fancy that so I just filled up to the brim and drove off. After my weekend I rang them up and offered to pay over the phone. They said they would prefer a cheque so I sent one off in the post. I swear they didnt bank the cheque for about 4 months.
  2. Definitely a glut of flats, But the bay is in no way isolated. there's all sorts of shops, bars and restaurants. It's a short walk or a bus ride to town, a couple of quid in a taxi. You can ride the Taff trail into Cardiff centre in less than 5 minutes. The bay certainly has its problems and it's possibly the last place on earth I'd consider buying a flat. But isolated?
  3. Amazing. How do the banks work out the yield. There seems to be plenty of different ways where people like to leave all types of costs out the equation. Do banks allow for void periods and damage or is it purely on cost of loan to monthly income.
  4. Just logged in to see what's happening in The Wales forum. I used to follow it closely but dropped out and bought a repo in January. I rented for 10 years and loved all aspects of renting. Pressures from the wife when she fell pregnant meant it was the right time for us to buy. Put 50% down and borrowed the rest at 3.24%. A crap deal at the time but the ea's own mortgage advisor was a total runt. He tried tucking me up to a huge fee which luckily I spotted. I ended up finding him the mortgage and making him get it for me. The mortgage is exactly half the amount I was paying in rent so I was probably a bit lax at sorting things out properly. Be very wary of EA's and their own lending and legal bods. I do try and keep an eye on the market. I've seen some very good deals. houses in areas that aren't particularly desirable are I believe falling this year. The chap I work with is in the process of buying a 3 bedder in tremorfa for 74k. It's a BTL. Now, in 2007 he bought his first BTL on the same street, that was 120k and it's a 2 bedder!!!! He reckoned 3 bedders were 150k at peak. I havn't checked the zoopla figures to confirm but that would make a 50% drop! Also the area I bought in gabalfa/mynachdy have also started to show some bargains. When I bought mine in January It was an incredible bargain. Looking around now it already looks less "bargain of the century" more just "fair price". Unfortunately the areas I'm looking to move up to ( not for at least 2 years) don't seem to be falling. Whitchurch and the Heath are areas I really Id like to buy in. They don't see to be dropping, the odd good deal but not actually dropping. Surely this is just a matter of time? As for big falls in the future, well there's going to have to be some shift in interest rates I would have thought. Doesn't seem likely in the near future. it just depends on your situation. If your able to save a decent amount each month towards a deposit and can wait a few years then time I would imagine will serve you well. Unfortunately I ran out of time. I did however save myself a lifetime a bad debt from the info and attitudes I found on HPC.
  5. It's the fee's that scare me. People just add them to the mortgage, I did it with mine, worked out at around 500 quid. I remember it taking about a year to pay off that 500 quid from the capital. When people are adding nearly 2k in fees every time they move product, I can't believe they are ever going to pay off the mortgage. I just hope people are paying for the fee's with a bit of savings or a credit card. My mortgage is only 40k and is fixed at 2% above base. I'm taking my chances and sticking as A. I dont want to pay a grand in fees, and B. Even the good deals are still leaving you with around 4% over base at the end of the term. Forcing you to take a product with another fee.
  6. I did a bit of work on that house. Going back about 12 years. The location is wonderful, I remember I would have been around 17 at the time and the view on a good day blew me away. There would have been a time when a retired city boy would have snapped it up for that price but that time has passed. Property is looking very reasonable indeed down that way. Newport has always carried an "idylic move from the city" type scene tax. Much more expensive just because it's Newport. There are some great pubs and restaurants there. Off the back of the said scene tax.
  7. You really need to explain this logic to save looking like a total bell end. Whoops, too late.
  8. Yes, Write to your MP, get everyone you know to do it. May add pressure and help the cause. Serious question? Really?? It doesn't take very long to pick holes in it to be fair.
  9. Yes we could all just work. All the while the government are judging us, seeing how we take it, judging and munipulating public support. We could just let the government wipe the floor with us. Or we could take a stand at each stage and try and make a difference for everyone. We struggle to pay for the elderly in the UK as it is. The Tory's dont care wether we rock up at 75 and die within 2 years because we cant afford to heat our homes. Yes you will be working when I have a nice day off. But I wont be getting paid so surely thats fair enough? Just like when you have a day off i'll still be out there working hard for the community. If you do as you say graft, yet can't put aside for the future then you of all people must see theres something wrong in the system? I don't know what the answers are for you personaly, but I don't want to be in that position so no, I wont just go to work on Wednesday.
  10. I'm on strike on Wednesday. No pickett line for me i'm afraid. I'll be using my much needed time off to get the wifes car serviced, winterise the bike and pop down the beach for a quick surf. I think the wife has a day off so probably grab a pub dinner. Absolutely no point wasting a perfectly good day just because public sympathy is lacking.
  11. Thats a bit of a contradiction though isn't it? On one hand you say Swansea is going into meltdown. Then go on to say houses are selling for record highs. You can't really have both. In Cardiff we have neither it seems. Just stagnation with the odd lunatic asking way too much. The problem is sometimes they get it. I'm almost convinced there will be no significant house price crash in Cardiff. Not without Higher interest rates. Which i think is very unlikely after Camerons decision to back house prices indefinately.
  12. I've had a long standing problem with EA's. I need a bit of advice as to what i'm doing wrong. The problem is they don't give me any time, they seem to disregard everything I say and just answer me as if, well to be honest, as if i'm just wasting their time. I'm in a position where I want to buy a house very soon, Before Xmas if possible. I'm not in a chain and have a 40% deposit. I know I can get a Mortgage and am in a secure job. i'm willing to move fast for the right house. These are the aspects that I always presume put me in a good position and therefore a good bet for an EA. So why when I explain my position do 100% of them seem totaly put out by the time i'm asking of them. I'll be as honest as I can be about my downsides to an EA. I dont always dress smartly, usually in a hoody and jeans, allthough lately I've been making an effort in a hope they will take me more seriously. I am picky, I Know what I want and I want it at a good but not unreasonable price. (what I have seen similar houses sell for). I dont really speak in EA language. They talk the talk which makes me cringe, but I am trying to be more accepting. I ask a few questions but I've been a tradesman for 15 years so I probably know more than them about the things I may have questions about. I tend not to ask in these cases as two people shooting the shit about things neither are knowledgeable on is a waste of time. Apart from the above I cant see what else the problem can be. I should point out that I have always had similar issues with car dealers. But in these cases it's always possible to sit down and just talk buisness, show the cash, or find another car, houses are more specific. As an EA is a go between you really do have to engage with them and show your interest. I'm not willing to pay asking prices as the houses are selling well under. So how do I make them take me or my offers seriously. If there are any EA's here, what do you look for in a costomer? Iv'e just been to see a local EA about a house. The house is back on the market at £175k after falling through at £172k due to the buyer unable to get finance. It is over priced. £160k would be a fair price and I've shown my interest at £155k to which the EA just wasnt interested in even engaging with me. The way I see it is the seller have found a house they want to buy. So they need to sell. its been on the market for 4 months. Is it not up to the EA to go and tell them they have an offer of 155 and try and get a sale going? The seller may not like this, but then they can try and negotiate on there new house. Instead the EA just said "No they wont be interested at that price, It wont be long before there's much more interest per property, i'm not sure when but it will be soon." However it works. It doesnt seem to be working for me.
  13. sorry. They would be stamped coins and 1 ounce bars.
  14. Am I correct to think that when I sell my gold I will only get the Non trade scrap value. This seems to be no where near what I can buy gold for. Any better ways of selling?
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